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The Canadian dollar is slightly lower on Wednesday. In the European session, USD/CAD is trading at 1.3559, down 0.09%. Bank of Canada expected to stay pat The Bank of Canada is widely expected to hold the cash rate at 5.0% at today’s meeting. The BoC’s rate policy has been “higher for longer”, with policy makers […]

The post Canadian Dollar Calm Ahead of BoC Decision appeared first on Action Forex.

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AUDCAD Rebounds Strongly from Uptrend Line

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05/12/2023

RBA Gives Itself Time to Assess

As we expected, the RBA Board kept rates on hold following its December meeting. Information received since the previous meeting in early November was considered ‘broadly in line’ with their expectations. The Governor’s decision statement emphasised that inflation continues to moderate, driven by the goods sector. Ahead of its meeting in February 2024, the Board […]

US 30 Cash Index Battles With Key Trendline

US 30 index in the red after recording a new 22-month high Aggressive move higher from the October lows Some early signs of rally exhaustion from the momentum indicators The US 30 cash index is trying to record its second consecutive red candle after registering a new 22-month high, 12% higher from the late October […]
02/09/2024

CADJPY Wave Analysis

CADJPY reversed from key support level 105.00 Likely to rise to resistance level 110.00 CADJPY currency pair recently reversed up with the weekly Hammer from the key support level 105.00 (which has been reversing the price from the middle of 2023). The support level 105.00 was strengthened by the lower weekly Bollinger Band and by […]