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Next week’s Bank of Canada interest rate decision itself is unlikely to be a surprise. The BoC is widely expected to hold the overnight rate steady at 5% for the third meeting in a row. But the statement will be watched closely for signs that a slowing economy and easing inflation pressures are shifting future […]

The post BoC to Deliver ‘Dovish Hold’ Next Week appeared first on Action Forex.

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06/06/2024

AUDJPY Wave Analysis

AUDJPY reversed from support level 103.00 Likely to rise to resistance level 104.50 AUDJPY currency pair recently reversed up from the key support level 103.00 (which has been reversing the price from the middle of May). The support level 103.00 was strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of […]
22/12/2023

GBP: Retail Sales Likely to Calm GBP

The Bank of England (BoE) is facing criticism for being slow to respond to the marked decline in UK price growth. The latest official data revealed a significant drop in consumer price growth to 3.9% in November, down from 6.7% in September. This unexpected decrease has prompted market reactions, with investors betting that the BoE […]
02/04/2024

Consolidation Not Going According to Plan

Market picture The crypto market lost 4% in 24 hours, falling to a capitalisation of $2.53 trillion. Bitcoin (-3.7%), Ethereum (-4.5%) and BNB (-3.5%) are all down by the same amount. Solana (-6.4%) and Doge (-7.9%) are lagging the market, not to mention the systematically weak Avalanche (-7% for the day and -17% for 7 […]