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U.S. Highlights The Federal Reserve started its easing cycle with a bang, reducing the policy rate by 50 basis points (bps), bringing the target range to 4.75%-5.0%. Futures markets are pricing an additional 75 bps of cuts by year-end, slightly more than the updated median FOMC forecast, which shows another 50 bps of cuts. Economic […]

The post The Weekly Bottom Line: Canada – Inflation Hits the Mark appeared first on Action Forex.

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15/12/2023

ETHUSD Attempts to Erase Recent Pullback

Ethereum posts 19-month peak before retracing lower But the bulls regain control and recoup some losses Momentum indicators point at more gains ahead ETHUSD (Ethereum) has experienced a strong rally since late October, which propelled the price to a fresh 19-month peak of 2,403 on December 9. Although the latest high was followed by a mild […]
17/06/2024

EUR/USD Could Recover If It Clears This Resistance

Key Highlights EUR/USD seems to be finding bids near the 1.0675 level. A connecting bearish trend line is forming with resistance at 1.0760 on the 4-hour chart. GBP/USD trimmed gains and tested the 1.2660 support zone. USD/JPY spiked above 158.00 before correcting lower. EUR/USD Technical Analysis The Euro started a fresh decline from well above […]
13/01/2024

Canadian Inflation Likely Ticked Up in December But Easing Trend to Continue

December inflation numbers and the Bank of Canada’s own business and consumer surveys will headline a slew of Canadian indicators ahead of the central bank’s next interest rate decision later this month. Canadian headline CPI growth is expected to tick slightly higher (+3.4% year-over-year) from November’s 3.1% increase, but with the gain largely coming from […]