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Headline CPI inflation edged lower in August to 2.0% year-on-year (y/y), versus 2.5% y/y in July, and just below consensus expectations of 2.1% y/y. Goods prices have fallen into deflation at -0.7% y/y, with gasoline prices down 5.1% y/y. Additionally, Statcan noted greater discounting on clothing and footwear during the back-to-school shopping period. Services prices […]

The post Canadian Headline Inflation Hits the Target appeared first on Action Forex.

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12/04/2024

Australian Dollar Struggles Amid Robust US Economic Data

The AUD/USD pair remains under pressure, hovering around 0.6528 on Friday. Earlier this week, the Australian dollar faced significant challenges, with a sharp decline against the USD. Efforts to stabilise the exchange rate have seen limited success thus far. The stronger-than-expected economic data from the US has dampened hopes for extensive interest rate cuts by […]
03/05/2024

Cliff Notes: Confidence Over Inflation Requires More Time

Key insights from the week that was. In Australia, partial updates on consumption came in on the softer side. Growth in nominal retail sales turned negative in March, down –0.4% (0.8%yr), the decline broad-based across sectors, with food retailing the only segment to record a gain. Downward revisions to prior months also weighed on Q1’s […]
24/04/2024

Elliott Wave Calling for FTSE to Extend Higher

Short Term Elliott Wave view on FTSE suggests that rally from 8.18.2023 low is unfolding as a 5 waves impulse. Up from 8.18.2023 low, wave 1 ended at 7745.82 and pullback in wave 2 ended at 7279.86. Up from there, wave ((i)) ended at 7764.37 and wave ((ii)) pullback ended at 7404.08. The Index then […]