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US nonfarm payrolls expected to drop to 180,000 The week wraps up with the US nonfarm payroll report later today. The ADP employment report, which was released on Wednesday, fell from 158,000 to 107,000. The ADP report isn’t considered a reliable guide for nonfarm payrolls, but investors still attach significance to it as they hunt […]

The post Canadian Dollar Eyes US Nonfarm Payrolls appeared first on Action Forex.

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The Weekly Bottom Line: Resilient Labor Demand and A Patient Fed

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25/03/2024

Canada’s January GDP to Edge Higher on Recovery from Quebec Strike

Canadian gross domestic product for January is expected to show modest growth on Thursday, while employment data will highlight whether weakness in job vacancies and wage growth still persists ahead of the Easter long weekend. We expect the Canadian economy to edge up 0.2% after a flat reading in December—and below the 0.4% increase forecasted […]
10/04/2024

EUR/USD Holds Steady Ahead of Key Economic Updates

The EUR/USD pair is maintaining a neutral stance, trading around 1.0851 on Wednesday, as the market anticipates crucial updates, including the US inflation data for March and the outcome of the European Central Bank (ECB) meeting on Thursday. Given the significant events on the horizon, investors are exhibiting caution. The US inflation rate for March […]
31/01/2024

GBP/USD Eyes Fresh Increase, Fed Rate Decision Next

Key Highlights GBP/USD is holding the 1.2620 and 1.2600 support levels. A key declining channel is forming with resistance near 1.2700 on the 4-hour chart. EUR/USD extended losses toward 1.0800 and remains at risk of more downsides. The Fed interest rate decision is scheduled today (forecast 5.5%, versus 5.5% previous). GBP/USD Technical Analysis The British […]