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We think Friday’s Canadian employment report should tell a familiar story—that the labour market has continued to weaken in October amid slowing hiring demand. Employment is still expected to increase, but not by much. We expect 15,000 jobs were added, but that would again undershoot growth in the labour force and population, and push the […]

The post Hiring Demand to Weigh on Canadian Jobs Data, U.S. Fed to Cut Again appeared first on Action Forex.

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02/07/2024

EUR/USD: Euro Bulls Should Not be Complacent after French Election

Sovereign credit risk remains elevated in France despite yesterday’s rallies seen in the EUR/USD, CAC 40 & DAX ex-post first round of the French legislative election. Speculative net capital outflows & bearish sentiment in CAC 40 & DAX may trigger a negative feedback loop into the EUR/USD. EUR/USD at risk of breaking down below 1.0656 […]
22/04/2024

GBPUSD Wave Analysis

GBPUSD broke key support level 1.2535 Likely to fall to support level 1.2335 GBPUSD currency pair continues to fall strongly after breaking the key support level 1.2535, which has been steadily reversing the price from December. The breakout of the support level 1.2535 coincided with true breakout of the 38.2% Fibonacci correction of the previous […]
03/01/2024

GBP/USD Dips Again, 200 SMA Is The Key To Fresh Increase

Key Highlights GBP/USD started a downside correction from the 1.2825 resistance. It traded below a key bullish trend line with support at 1.2715 on the 4-hour chart. EUR/USD also corrected lower below the 1.1020 support zone. The US ISM Manufacturing Index could increase slightly from 46.7 to 47.1 in Dec 2023. GBP/USD Technical Analysis The […]