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Softer inflation in Canada in June provided a small relief after an upside surprise in May, and set the Bank of Canada up for another 25-basis point interest rate cut on Wednesday to build on its first cut in June. Similar to the June meeting, we think the central bank will highlight a weakening economic […]

The post Another Cut from BoC Will Bring Benchmark Interest Rate to 4.5% appeared first on Action Forex.

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30/01/2024

Euro Steady Despite German GDP Decline

The euro has edged higher on Tuesday. In the European session, EUR/USD is trading at 1.0850, up 0.16%. German GDP declines by 0.2% Germany, the largest economy in the eurozone, continues to weigh on the bloc with its weak economy. Germany’s GDP declined by 0.3% q/q in the fourth quarter, matching the consensus estimate. Third-quarter […]
31/01/2024

Gold Price and Crude Oil Price Eye Additional Gains

Gold price started a decent increase above the $2,025 resistance level. Crude oil prices are gaining bullish momentum and might rise toward $82.00. Important Takeaways for Gold and Oil Prices Analysis Today Gold price started a decent increase from the $2,025 zone against the US Dollar. A connecting bullish trend line is forming with support […]
26/06/2024

AUD/USD Surges on Inflation News in Australia

This morning, the Consumer Price Index (CPI) figures for Australia were released – according to ForexFactory, the annual CPI stood at 4.0% (expected = 3.8%, previous = 3.6%). As Bloomberg reports: → Rent was the main driver of inflation due to a housing shortage. → The spike in inflation increases the risk of an RBA […]