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USDCAD is making a pretty strong rise after the Bank of Canada lowered rates by 25 basis points as expected last week. The price is now testing the major trend line resistance of this triangle on the daily chart, and we are wondering if we can see a breakout, which is certainly possible in a […]

The post USD/CAD: Bullish Impulse Calling for Breakout appeared first on Action Forex.

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AUD/USD Gains Amid Anticipation for Key Economic Data

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21/02/2024

Canadian January CPI Growth Edged into BoC’s Target Range

CPI growth decelerated to 2.9% year-over-year from 3.4% in December – back under the top end of the Bank of Canada’s (BoC) 1% to 3% target range for the first time since June 2023. Energy and food price growth continued to slow, but the Bank of Canada’s preferred ‘core’ measures of broader inflation pressures also […]
11/06/2024

ECB’s Lagarde Clearly Stated One Should Not Expect Rate Cuts at Predetermined Pace

Markets It’s telling that core bonds do not gain when markets are in risk-off. German bunds underperformed US Treasuries yesterday with a political risk premium boosting yields between 0.2 (2-yr) and 6.8 bps (30-yr) higher. Far-right advanced (sharply) in the European parliamentary elections in many countries including Germany, Italy and France. In a direct consequence, […]
26/04/2024

US Economy: Slower Growth With Stronger Inflation

The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast. Disappointment increased given that exceeding forecasts has become the norm. GDP growth for the […]