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On Thursday 6 June, the ECB is widely expected to deliver a 25bp rate cut, largely because the governing council members have stated as much. The updated June staff projection is expected to suggest that the prevailing economic and monetary policy narrative stays broadly unchanged and we expect the rate cut to be formulated as […]

The post ECB Preview – A Political Rate Cut in June, and No Cut in September appeared first on Action Forex.

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Canadian GDP Per Capita Likely Shrunk for Seventh Consecutive Quarter in Q1

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The Weekly Bottom Line: FOMC Continues to Preach Patience

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11/01/2024

Is Oil Headed for Another Supply War?

Oil prices remain under pressure despite Middle East crisis Risk of another supply war between US and OPEC is rising Outlook for oil seems negative as supply outpaces demand Oil unable to capitalize on geopolitical tensions Oil prices have taken a beating in recent months, falling by around 23% since late September despite a series […]
02/02/2024

WTI Wave Analysis

WTI reversed from resistance level 83.50 Likely to fall to support level 76.00 WTI crude oil falling after the price reversed down from the pivotal resistance level 83.50 (former strong support from October), which has been reversing the price from November. The resistance level 83.50 was strengthened by the upper daily Bollinger Band and by […]
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 […]