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The Bank of Canada is widely expected to maintain the overnight rate steady again at its meeting on Wednesday. An announcement on the ending of quantitative tightening is unlikely but we expect that to follow later in April. Over past meetings, the BoC has been gradually and cautiously moving towards a more dovish stance. Language […]

The post BoC to Deliver Another Dovish Hold, Unemployment Rate to Tick Higher appeared first on Action Forex.

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14/12/2023

Bank of England Hawks Extend the Pound’s Rally

The Fed’s dovish attitude, for now, hasn’t extended too far into Europe. The Bank of England kept its key rate unchanged at 5.25%, with three of the nine members voting in favour of a quarter-point hike. In a commentary on the decision, the Bank of England emphasised that it is not yet certain that inflation […]
28/12/2023

USD/JPY Price Analysis: Declines to five-month low, trades near 140.80

USD/JPY moves below the 141.00 psychological level on the back of the subdued US Dollar. A firm break above the 142.00 level could lead the pair to reach a nine-day EMA at 142.41. Technical indicators suggest a bearish sentiment to test the major support at 140.50. USD/JPY extends its losses as the US Dollar (USD) […]
30/01/2024

JP 225 Stock Index Eyes 161.8% Fibo After Pullback from 34-year High

Japan’s benchmark index attempts to regain positive footing 37,000 level is still in sight But bullish momentum may not be strong enough The Japan 225 stock market index (cash) edged up on Monday, heading towards the 161.8% Fibonacci extension of the June-October 2023 downtrend at 36,247. Overcoming this barrier is crucial to being able to […]