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The Canadian economy grew by 1.7% quarter/quarter annualized (q/q) in 2024 Q1, while 2023 Q4 was revised lower (+0.1% q/q from +1.0%). Furthermore, the flash estimate for April showed a +0.3% monthly increase. Stripping out external factors, final domestic demand came in at a very strong 2.9% q/q. Consumer spending supported growth, rising by +3.0% […]

The post Canada’s Economic Growth Rebound Misses Expectations in the First Quarter  appeared first on Action Forex.

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13/05/2024

Gold Loses Some Ground But Still Bullish

Gold loses momentum after reaching a two-week high Short-term risk remains skewed to the upside above 2,325 The week began with gold losing ground and giving up the gains it made on Friday when it reached a two-week high of 2,378. Technically, the bounce back above the resistance line from March and the 20-day simple […]
11/04/2024

GBPUSD Wave Analysis

GBPUSD reversed from support level 1.2535 Likely to rise to resistance level 1.2700 GBPUSD currency pair recently reversed up from the key support level 1.2535, which has been steadily reversing the price from the start of December. The support level 1.2535, was strengthened by the lower daily Bollinger Band and by the 50% Fibonacci correction […]
19/08/2024

Gold Price Surpasses $2500 for the First Time

We noted bullish sentiment in the gold market six days ago: → The price is moving within an ascending channel (shown in blue); → Bulls may attempt to set a historic record amid the release of economic news. As today’s XAU/USD chart shows, the gold price has risen above the psychological level of $2500. This […]