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The Canadian economy grew by 0.2% month-on-month (m/m) in July after June’s flat reading. This print landed ahead of Statistics Canada’s advanced guidance and consensus expectations. Early guidance from Statistics Canada points to no growth in August. May’s reading was broad-based, with output expanding in 13 of 20 industries. Growth in services-producing industries (0.2% m/m) […]

The post Canada’s Economy Advanced in July, Growth Stalled in August appeared first on Action Forex.

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21/02/2024

WTI Crude Oil Wave Analysis

WTI crude oil reversed from resistance level 78.20 Likely to fall to support level 76.00 WTI crude oil recently reversed down from the key resistance level 78.20 (former support from August, which has been reversing the price from the start of November). The resistance level 78.20 was strengthened by the 38.2% Fibonacci correction of the […]
02/12/2024

The French Theme Will Keep Yields and Euro in a Tight Spot

Markets The front end of the European yield curve outperformed going into the weekend. Rates dropped almost 5 bps in the 2-yr German tenor, enough to lose the symbolical 2% barrier to close at a 2-year low. It followed European inflation numbers coming in at the expected 2.3% headline, which prompted ECB’s de Guindos and […]
26/03/2024

XAUUSD: Markets Slow Down Ahead of NFP

Gold prices rose on Monday as the US Dollar weakened amidst speculation about potential Federal Reserve rate cuts starting in June. This weakened Dollar was partly due to improved risk sentiment pushing US Treasury yields lower. Despite facing challenges from declining yields, gold prices recovered to nearly $2,170 per troy ounce, driven by the Dollar’s […]