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The Bank of Canada is expected to accelerate the pace of interest rate cuts with a 50-basis point reduction to the overnight rate to 3.75% from 4.25% on Wednesday. An underperforming Canadian economy had already pushed the BoC to lower interest rates earlier than most advanced economy central banks. Three consecutive 25 bps cuts that […]

The post BoC to Do Its Own Jumbo 50 Basis Point Interest Rate Cut appeared first on Action Forex.

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USDJPY Adjusts Amid Mixed Signals from Japan’s Economic Data

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The Weekly Bottom Line: Canadian Inflation Drops Below Target

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03/09/2024

AUD/USD Sinks Ahead of GDP

The Australian dollar is sharply lower on Tuesday. AUD/USD is trading at 0.6732 in the European session, down 0.88% today at the time of writing. Australian GDP expected to remain soft Australia’s economy has been sputtering and the markets aren’t expecting much change from second-quarter GDP on Wednesday. GDP is expected to trickle lower to […]
25/03/2024

Hang Seng Index: Potential Currency War May Kick Start Another Bearish Leg

A less dovish Fed with a surprise cut by SNB has triggered a bout of US dollar strength since last Thursday, 21 March. China’s central bank, PBoC responded with a lower-than-expected daily fixing on the onshore yuan (CNY) last Friday, 22 March which led the offshore yuan (CNH) to plunge by -0.8% against the US […]
18/12/2023

EUR/USD: Regains Traction But Recovery Faces Strong Headwinds

EURUSD found a footstep and firmed on Monday after 0.9% drop last Friday, following a double failure at psychological 1.10 barrier. However, recovery is unlikely to extend much as near-term action is weighed by much weaker-than-expected German Ifo data and rising bearish momentum on daily chart. Also, long upper shadow on last week’s candlestick and […]