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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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18/11/2024

New Zealand Dollar Slips to One-Year Low on Weak Services PSI

The New Zealand dollar has started the trading week with losses. In the European session, NZD/USD is trading at 0.5837, down 0.50% on the day. This is the New Zealand dollar’s lowest level since November 2023. New Zealand Services PMI stuck in contraction mode New Zealand Services PMI inched upwards in October but remains in […]
07/02/2024

XBRUSD: Corrects Towards Supply Zone With Expected Further Downside Towards 75.70

Bearish Scenario: Sales below 78.99 with TP1: 77.93, TP2: 77.45, and upon its breakout TP3: 76.56 and TP4: 75.70. It is recommended to place a stop loss above 79.50, at least 1% of the account capital**. A trailing stop can be used. Bullish Scenario: Purchases above 78.00 (wait for a pullback to this area) with […]
28/11/2024

EURUSD Wave Analysis

EURUSD reversed from support area Likely to rise to resistance level 1.0620 EURUSD currency pair recently reversed up from support area located at the intersection of the long-term support level 1.0455 (previous yearly low from 2023) and the lower weekly Bollinger Band. The upward reversal from the support level 1.0455 will form the weekly Bullish […]