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We expect another 25-bps cut to the overnight rate (to 4.25%) from the BoC meeting next week to build on cuts already delivered in each of the prior two meetings in June and July. Comments from Governor Macklem will likely again err on the dovish side, continuing to emphasize a softening economic backdrop that makes […]

The post BoC to Cut Rates Again Ahead of Pivotal U.S. Employment Report appeared first on Action Forex.

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08/08/2024

Aussie Jumps as RBA Says Rates Could Rise

The Australian dollar has had a busy week and is showing strong gains on Thursday. In the European session, AUD/USD is trading at 0.6550, up 0.50% at the time of writing. RBA’s Bullock says rate hikes still on table Two days after the Reserve Bank of Australia held the cash rate, Governor Bullock reinforced her […]
05/09/2024

EUR/USD Eyes Fresh Increase, USD/JPY Trims Gains

EUR/USD started a fresh decline from 1.1200. USD/JPY is correcting gains and might test the 144.15 support in the near term. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro started a fresh decline below the 1.1150 support. There is a key bearish trend line forming with resistance at 1.1055 on the hourly chart […]
03/07/2024

Sunset Market Commentary

Markets European markets today enjoyed some kind of a risk-on catch up move. A record close of the US S&P 500 above the 5500 mark yesterday apparently also inspired European investors (Eurostoxx 50 +1.3%). On French/intra-EMU bond markets, the risk premia also narrowed slightly further. The French 10-y spread over Bunds eased to 68 bps […]