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Canadian Highlights The Fall Economic Statement (FES) was delivered amid a chaotic week for the federal government. Larger deficits and modest stimulus were features, although the FES is unlikely to change the Bank of Canada’s thinking on policy. Data on the real economy was mixed, with gains in home sales and starts in November, but […]

The post The Weekly Bottom Line: Fed Signals a More Cautionary Stance on Rate Cuts Next Year appeared first on Action Forex.

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08/05/2024

Persisting Pressure on Crypto

Market picture The crypto market has lost 2% of its capitalisation over the last 24 hours to $2.29 trillion. Bitcoin is losing 1.8%, Ethereum – 1.7%. Among the top altcoins, Solana is experiencing the biggest decline of 4%, while BNB has lost the least, just 0.5%. Bitcoin is drawing its fourth consecutive declining candle on […]
18/04/2024

WTI: Oil Prices Fall Further on Rising Demand Concerns

WTI oil price dips further in early Thursday, in extension of previous day’s 3% drop (the second biggest daily loss in 2024) and hit new three-week low. Stronger than expected rise in US crude inventories (EIA report) further raised concerns about oil demand, while fears about escalation of the conflict in the Middle East faded, […]
06/08/2024

Nikkei 225 Wave Analysis

Nikkei 225 reversed from support level 30600.00 Likely to rise to resistance level 35000.00 Nikkei 225 index recently reversed up from the key support level 30600.00, former support from the end of 2023. The support level 30600.00 was strengthened by the nearby 61,8% Fibonacci correction of the previous weekly uptrend from the start of 2023. […]