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The Bank of Canada is widely expected to hold the overnight rate steady at 5% in the first policy decision of 2024 – extending a pause that started following the last hike in July. The statement and press conference that follows will be watched closely for hints about how much longer the central bank expects […]

The post BoC to Hold Interest Rates Steady Again Next Week appeared first on Action Forex.

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02/08/2024

Bank of England Joins Central Bank Rate Cut Club

Summary The Bank of England (BoE) joined the growing group of G10 central banks that have eased monetary policy, by delivering an initial 25 bps policy rate cut to 5.00% at today’s monetary policy announcement. The guidance from the BoE’s announcement was also somewhat cautious, for now likely arguing against a steady series of rate […]
10/01/2024

GBP/USD: Near-Term Action Lacks Clearer Direction Signal But Overall Still Bullishly Aligned

Cable is holding around 1.2700 mark in early Wednesday, following a triple upside rejection at 1.2770 zone. Larger picture shows the pair trading below the middle of the range (1.2610/1.2827) which extends into fourth consecutive week and capped by 200WMA (1.2837). Daily studies are mixed as MA’s remain bullishly aligned, but momentum is turning negative, […]
07/06/2024

USDCAD Wave Analysis

USDCAD reversed from resistance level 1.3740 Likely to fall to support level 1.3600 USDCAD currency pair recently reversed down from the key resistance level 1.3740 (upper boundary of the narrow sideways price range inside which the pair has been moving from the start of May). The resistance level 1.3740 was strengthened by the upper daily […]