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The Bank of Canada held the overnight rate unchanged for a fifth consecutive meeting, extending a pause that started after the last hike in July last year. Softer inflation data in January made sure that no hiking bias (dropped in January) would reappear. BoC’s key messaging remains that we’re on the right path to target […]

The post BoC Holds Rates Steady in March With Dovish Lean appeared first on Action Forex.

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03/05/2024

Week Ahead – BoE and RBA Decisions Headline a Calm Week

Bank of England meets on Thursday, unlikely to signal rate cuts Reserve Bank of Australia could maintain a higher-for-longer stance Elsewhere, Bank of Japan releases summary of opinions BoE – No rate cuts yet Britain’s economy seems to have escaped the shallow recession it fell into last year, and has finally entered the recovery phase. […]
22/04/2024

EURJPY Rallies Ahead of Key Market Events

EURJPY is preparing to test the recent 165.34 high The growing intervention threat is limiting the aggressive bullish appetite Momentum indicators maintain some degree of bullish tendency EURJPY is edging higher today with the bulls apparently preparing to challenge the recent 165.34 high following another false attempt by the bears to push this pair below […]
31/07/2024

Gold Eyes New Gains: Will It Sparkle Again?

Key Highlights Gold is attempting a fresh increase from the $2,350 support zone. It cleared a connecting bearish trend line with resistance at $2,388 on the 4-hour chart. Oil prices extended losses and traded below $75.50. The US ADP employment could change by 150K in July 2024. Gold Price Technical Analysis Gold prices found support […]