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The Bank of Canada maintained the overnight rate at 5.0%, while stating that it will continue with Quantitative Tightening (QT). The Bank highlighted the slowing in economic momentum, stating that growth “remained weak and below potential”, while emphasizing that “final domestic demand contracted with a large decline in business investment”. It also stated that “employment […]

The post Bank of Canada Maintains Interest Rate, No New Guidance on Cuts appeared first on Action Forex.

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16/01/2024

British Pound Slips as Wage Growth Slides

UK wages ease to 6.5% GBP/USD falls UK to release inflation on Wednesday The British pound is sharply lower on Tuesday after a solid UK employment report. In the European session, GBP/USD is trading at 1.2641, down 0.68%. UK wage growth falls sharply The UK employment report indicated that the labour market remains solid while […]
25/01/2024

Gold Not Out of the Woods Yet

Gold below key barriers ahead of next week’s FOMC policy announcement Technical signals cannot promise a meaningful rally Gold has been in a tight range within the 2,016-2,030 region so far this week, struggling to find enough buyers to close successfully above its exponential moving averages (EMAs) on the four-hour chart and the broken support trendline from […]
17/05/2024

The Elephant in the Room

All major US indices advanced to fresh ATH yesterday; the S&P500 and Nasdaq 100 traded at the uncharted territory, while the Dow Jones Industrial index hit the 40’000 mark for the first time – sparking the good, old discussions about ‘how long did it take the Dow Jones to walk the last 10’000 points’. It […]