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Canada’s gross domestic product report for July next Friday will be closely watched to see if cooling in the economy in late Q2 extended into Q3. Early reports are pointing to a 0.1% increase in July GDP that would be slightly higher than the advance estimate for an unchanged reading a month ago but would […]

The post Canadian GDP to Show Modest Growth in July But Below BoC Forecast appeared first on Action Forex.

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22/06/2024

Weekly Economic & Financial Commentary: Global Central Bank Decisions Galore

Summary United States: Economic Data More Rice & Beans than Steak & Eggs Markets chewed on an array of economic data this week, and what was served was mostly gristle. A weak retail sales print suggests that consumers may finally be feeling some spending fatigue. Markets also received a three-course housing market update which painted […]
09/01/2024

Dow Futures (YM) Doing Elliott Wave Corrective Pullback

Short-term Elliott Wave View in Dow Futures (YM) suggests that the rally to $38115 high has ended the cycle from the 10.27.2023 low in wave (3) as 5 wave impulse structure. Down from there, the index is doing a corrective pullback in wave (4) against the October 2023 low cycle. And is expected to find […]
09/05/2024

US Indices Heading Towards Highs

US indices have been gaining daily since the beginning of May. They have found strength amid relatively weak job reports and quite upbeat quarterly earnings. The S&P500 and Nasdaq100 indices are just 1.5% below the all-time highs set in March. The market downturn in the first three weeks of April has whetted bargain hunters’ appetite. […]