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Headline CPI inflation cooled more than expected in January, stepping down half a point to 2.9% year-on-year (y/y). Energy prices, and more specifically gasoline prices, were a key part of lower inflation, with gasoline prices down 4% versus a year ago. But even ex-gasoline headline CPI inflation slowed from 3.5% y/y in December to 3.2% […]

The post Canada: Inflation Sees Some Welcomed Cooling in January appeared first on Action Forex.

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11/07/2024

Market Analysis: EUR/USD Jumps, USD/JPY Bulls Seem Unstoppable

EUR/USD is climbing higher above the 1.0800 level. USD/JPY surged above the 160.00 and 161.40 resistance levels. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro started a decent increase above the 1.0780 pivot level. There is a key bullish trend line forming with support near 1.0820 on the hourly chart of EUR/USD at […]
25/07/2024

Stock Routs Undermine the Image of Ethereum ETF Launch

Market picture The pressure on financial markets has spread to cryptocurrencies – the flip side of the long-desired easing of institutional access to the crypto market. The launch of the Ethereum ETF coincided with the most powerful drop in the Nasdaq index in months. The cryptocurrency market lost 3.5% in the last 24 hours, pulling […]
07/03/2024

USD/JPY Outlook: Japanese Yen Accelerates Dains vs Dollar on Growing Signals of BoJ Policy Shift

Bears accelerate on Thursday (USDJPY was down 1% in Asian / European session) extending steep fall into third straight day. Fresh weakness broke below initial Fibo support at 148.37 (23.6% of 140.25/150.88 rally, reinforced by daily Kijun-sen) generating initial reversal signal and warning of deeper drop. Bears cracked 100DMA (147.81) which produced some headwinds, with […]