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The Canadian economy grew for a second consecutive month, up by 0.2% month-on-month (m/m). This print landed ahead of Statistics Canada’s advanced guidance and market expectations of a 0.1% m/m gain. The flash estimate for June points to a 0.1% m/m gain. May’s reading was broad-based, with output expanding in 15 of 20 industries. Goods-producing […]

The post Canada’s Economy Advanced in May, Modest Growth Expected in June appeared first on Action Forex.

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18/12/2023

Gold Retraces Lower after Hitting Crucial Ascending Trendline

Gold manages to halt the pullback from its recent record high But rebound meets strong resistance at important ascending trendline Momentum indicators suggest that positive momentum is fading Gold had been in a steep uptrend since November 10, recording a fresh all-time high of 2,144 before experiencing a solid correction. Although the bulls attempted to erase this […]
04/01/2024

NZD/USD Price Analysis: Improves to Near 0.6280, Focus on US Jobs Data

NZD/USD could face challenges on risk-off market sentiment. A break above 0.6300 could support the pair to approach the weekly high at 0.6329. The lagging indicator MACD could give confirmation of the downward trend. NZD/USD retraces its recent losses, trading higher around 0.6280 during the European session on Thursday. However, the NZD/USD pair faced challenges […]
28/12/2023

USD/JPY Price Analysis: Declines to five-month low, trades near 140.80

USD/JPY moves below the 141.00 psychological level on the back of the subdued US Dollar. A firm break above the 142.00 level could lead the pair to reach a nine-day EMA at 142.41. Technical indicators suggest a bearish sentiment to test the major support at 140.50. USD/JPY extends its losses as the US Dollar (USD) […]