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The Canadian dollar is showing little movement on Friday, but that could change with the release of Canadian GDP and the US PCE Price index later today. USD/CAD is trading at 1.3660 in the European session, down 0.15% on the day. Canada’s economy expected to have flatlined in March Canada’s economy is expected to have […]

The post Canadian Dollar Eyes Canadian GDP appeared first on Action Forex.

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26/04/2024

USD/JPY: Surges Above 156.00 as BoJ Holds Rates

USDJPY surged to new 34-year high on Friday after the Bank of Japan kept its ultra-low interest rates unchanged and lacked to provide clearer signals about the timing of next rate hike, which further deflated yen. Fresh bullish acceleration on Friday surged through 156.00 barrier, hitting the highest since 1990 (156.82 so far), after surpassing […]
02/01/2024

GBPJPY Wave Analysis

GBPJPY reversed from support level 179.40 Likely to rise to resistance level 182.00 GBPJPY currency pair recently reversed up from the multi-month support level 179.40 (which has steadily reversed the pair from the start of July). The support level 179.40 was further strengthened by the lower daily Bollinger Band. Given the strength of the support […]
21/05/2024

Fed Rate Expectations Whipsawed by Fed Speakers and US CPI

It has been a rollercoaster period for Fed rate cut expectations Sticky US inflation is keeping the market on its toes Numerous Fed speakers this week; market sensitive to hawkish comments Dollar’s 2024 gains dented despite divergent monetary policy outlooks The year started with the market firmly believing that the Fed would deliver six rate […]