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The pull-back in GDP in Q3 (-1.1% annualized) was substantially softer than expected, although following an upwardly revised 1.4% gain (previously -0.2%) in Q2. Still, the details of the Q3 data were soft – GDP would have declined a larger 3% in the quarter without a 7.3% jump in government spending. Business investment pulled back […]

The post Canadian GDP declined in Q3 appeared first on Action Forex.

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05/08/2024

Could Data Open the Door to RBNZ Cut Next Week?

Market in crisis mode after Friday’s US labour report An RNBZ rate cut could be on the cards if data weakens China’s problems hamper progress in the region Kiwi in desperate need of good data prints Markets in disarray With the market digesting last week’s events, especially Friday’s US labour market report that triggered discussions […]
08/03/2024

ECB Review: June Cut is Coming

Today, the ECB decided to keep policy rates unchanged, as unanimously expected by markets and analysts. The new staff projections saw a downward revision of the 2024 projection across growth, headline and core inflation. For 2025, the ECB revised down the projections for 2025 by 0.1pp and 0.2pp for headline and core respectively. Core inflation […]
16/01/2024

EUR/USD: Euro Loses Ground, Key Supports Under Increased Pressure

The Euro accelerated lower in Europe, shifting near term focus to the downside after a double failure at psychological 1.10 barrier. Fresh bears pressure pivotal Fibo support at 1.0875 (38.2% retracement of 1.0448/1.1139, reinforced by rising 55DMA), with firm break here to signal an end of extended consolidation, completion of a double-top (1.10) and further […]