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The Bottom Line: The BoC made the leap to cut the overnight rate by 50 bps today, amid accumulating evidence that the economy and labour markets are weakening by more than what is necessary to achieve the 2% inflation target. The reduction won’t be the last one. The level of the overnight rate is still […]

The post BoC Accelerates Pace of Rate Cuts appeared first on Action Forex.

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US Elections Update: The Race to White House Tightens

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08/04/2024

Will German Industry Continue to Look Weak

In focus today Today, we look out for German industrial production data for February, which will give more information on the state of the German industry that is still very weak. The first round of the central wage settlement in Norway is now underway. The framework for the settlement in the manufacturing sector is stated […]
19/04/2024

GBPJPY Range Trading Continues

GBPJPY is in the red today, not far from its recent high It continues to hover inside a rectangle structure Momentum indicators are in waiting mode for the next key events GBPJPY is trading lower today as the market is digesting the latest developments in the Middle East and the lower Japanese inflation prints, and […]
02/12/2024

XAG/USD Analysis: Silver Price Balances at Key Support

As reflected in the XAG/USD chart, the price of silver this morning is trading near $30.2, just above a critical support zone formed by: → The psychological level of $30.00; → The lower boundary of the ascending channel. As indicated by the blue arrows, this lower boundary has consistently provided support, enabling bullish reversals in […]