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Canadian economic growth jumped 0.3% month-on-month (m/m) in October, ahead of Statistics Canada’s advanced guidance and consensus expectations. Early estimates from Statistics Canada point to a slight pullback in November GDP (-0.1% m/m). October’s reading was broad-based, with output expanding in 12 of 20 industries. The goods sector grew by a hefty 0.8% m/m, while […]

The post Canada’s Economy Beats Growth Expectations in October, Pullback Expected in November appeared first on Action Forex.

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17/06/2024

For EUR/USD, Further Decline to 1.06 Support the Path of Least Resistance

Markets The French/Macron-driven risk-off continued to rage across European markets last Friday. European risk premia again leaped aggressively higher. After a protracted period of underperformance against swap, German Bunds fully picked-up their traditional safe haven role. German yields declined between 10.7 bps (5-y) and 14.1 bps (30-y), a move that is difficult to link to […]

Nikkei Index Falls Below 38,000 Points This Month for First Time

According to today’s Nikkei 225 (Japan 225 on FXOpen) chart, the index quote dropped below 38,000 points at Monday’s low, followed by a recovery (shown by an arrow). One of the drivers of the decline was the automotive sector, whose shares led during the downturn. In particular, according to Reuters, Toyota Motors’ shares fell by […]
05/03/2024

EURJPY Recovers from Mild Pullback

EURJPY storms back higher towards 2024 peaks Momentum indicators weaken but remain positive EURJPY has been in a steady advance since December 2023, peaking at the 2024 high of 163.70 on February 27. Despite experiencing a pullback in the past week, the pair found its feet and rotated back higher towards its recently registered three-month peak. Given […]