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Canadian economic growth stalled in August after modest GDP growth in July. This print landed in line of Statistics Canada’s advanced guidance and consensus expectations. Early estimates from Statistics Canada point to decent growth in September (0.3% m/m). August’s reading was broad-based, with output expanding in 12 of 20 industries. A 0.1% m/m gain in […]

The post Canada’s Economy Flatlined in August, With a Pickup Expected in September appeared first on Action Forex.

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29/07/2024

Natural Gas Finds Support. But for How Long?

On 21 June, we wrote that the trend in the market was weakening, noting that: → Forecasts of a hotter summer, published during April-May, led to a sustained bullish trend in the natural gas market. → According to the technical analysis of the 4-hour XNG/USD chart and the signs of weakness that have formed on […]
30/07/2024

NZD/USD Sinks to Three-Month Minimum, Driven by Rate Speculation and Strengthening USD

The NZD/USD pair plummeted to 0.5892, marking a significant three-month low. The New Zealand dollar remains under pressure as the US dollar gains strength due to the start of the Federal Reserve’s two-day meeting. The Fed is expected to leave the interest rate in the target range of 5.25-5.50% this time. At the same time, […]
14/06/2024

XTIUSD: Bearish and Bullish Scenarios, Key Levels, and Market Insights

Bearish Scenario: Sell below 77.50/77.81 with TP1: 77.36, TP2: 76.91, TP3: 76.26, and TP4: 76.00, with S.L. above 78.53 or at least 1% of account capital. Bullish Scenario: Buy above 78.70 with TP1: 79.00 and TP2: 79.90, with S.L. below 78.00 or at least 1% of account capital. Apply trailing stop. Fundamental Analysis: The price […]