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The Canadian dollar posted its fourth straight losing week, declining about 1%. In Monday’s European session, USD/CAD is trading at 1.4397, up 0.16% at the time of writing. Canada’s GDP expected to remain at 0.1% The market is keeping expectations low for today’s GDP report, with a forecast of 0.1% m/m for October after a […]

The post Canadian Dollar Eyes GDP appeared first on Action Forex.

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30/04/2024

GBPUSD Battles With 200-Day SMA

GBPUSD rebounds strongly from a 5-month bottom But meets strong resistance at 200-day SMA Momentum indicators improve but remain neutral-to-negative GBPUSD experienced a vast decline after posting a fresh 2024 high of 1.2892, generating a clear structure of lower highs and lower lows. Although the pair has been attempting a recovery in the past few sessions following […]
06/03/2024

Trump Big Winner on Super Tuesday

In focus today In the U.K. Chancellor of the Exchequer Jeremy Hunt will deliver his spring budget. With the general election looming the chancellor is expected to present a range of expansionary measures, namely tax cuts. In the US we get both JOLTs for January as well as ADP employment numbers for February. FOMC chairman […]
23/09/2024

The Crypto Market Bullish Pause

Market Picture The cryptocurrency market paused growth early in the day on Monday after last week’s resounding close, stabilising at $2.23 trillion (+8.8% in 7 days), which is near the previous peak. This means that further gains will be an important second signal for breaking the multi-month trend of lower local highs. Prior to this, […]