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BoC is expected to cut rates by 50 bps, the fourth one in a row Policymakers may give some hints about the December meeting Loonie looks strongly bearish Decision comes out on Wednesday at 13:45 GMT Fall in inflation confirms the rate cut It is widely expected that the Bank of Canada (BoC) will announce a substantial interest rate cut on Wednesday, particularly […]

The post BoC Policy Meeting: A Rate Cut and Clues for the Next One appeared first on Action Forex.

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14/10/2024

GBPUSD Wave Analysis

 GBPUSD reversed from support zone Likely to rise to resistance level 1.3200 GBPUSD currency pair recently reversed up from the support zone located between the pivotal support level 1.3030 (former monthly high from July), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from August. The upward reversal from this support […]
04/06/2024

WTI Wave Analysis

WTI broke key support level 76.70 Likely to fall to support level 72.00 WTI crude oil recently broke the key support level 76.70 (which has been steadily reversing the price from the middle of February). The breakout of the support level 76.70 coincided with the breakout of the 61.8% Fibonacci correction of the previous upward […]
06/08/2024

Gold (XAU/USD) Steadies After Volatile Monday; DXY Bounces Back

Gold prices rebounded above $2,400/oz after a dip to $2,364/oz, showing resilience despite a strengthening US Dollar. Gold benefits from expectations of more aggressive rate cuts and its safe-haven status. Geopolitical and economic risks in the second half of 2024, along with anticipated rate cuts, should theoretically support the gold rally, but a Middle East […]