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The Canadian dollar is unchanged on Tuesday. In the European session, USD/CAD is trading at 1.3831 at the time of writing. The Canadian dollar is under pressure and is having a miserable October, down 2.2%. BoC expected to chop rates by 50 bps The Bank of Canada makes its next interest rate decision on Wednesday […]

The post Canadian Dollar Flat, BoC Poised to Cut Rates appeared first on Action Forex.

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03/01/2024

EUR/USD Edges Down to Near 1.0940 after German Employment Data, Focus Shifts to US Data

EUR/USD gains ground amid upbeat US Dollar. German Unemployment Change reduced to 5K from 22K prior. The seasonally adjusted Unemployment Rate remained consistent at 5.9%. The improved US Treasury yields are reinforcing the strength of the Greenback. EUR/USD struggles to retrace its recent losses registered in the previous session, trading near 1.0940 during the European session […]
05/07/2024

WTI Wave Analysis

WTI broke resistance level 81.10 Likely to rise to resistance level 86.00 WTI crude oil recently broke the resistance level 81.10 (former top of the minor correction (b) from the end of May). The breakout of the resistance level 81.10 coincided with the breakout of the 61.8% Fibonacci correction of the previous sharp ABC correction […]
29/03/2024

Japanese Yen Steady as Tokyo Core CPI Ticks Lower

The Japanese yen continues to have a quiet week and is unchanged in the European session at 151.17. Tokyo Core CPI inches lower to 2.4% Tokyo Core CPI, which excludes fresh food, eased to 2.4% y/y in March, a drop lower than the 2.5% gain in February and matching expectations. This inflation indicator is closely […]