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US equity indices declined in the first five trading sessions of January. This dynamic promises a challenging year for the stock market, according to the old “first five days” rule. Identifying a defining trend would have been an easy task if not for stabilisation on the day of the NFP release on January 5 and […]

The post ‘First Five Days’ Rule Points to a Challenging Year appeared first on Action Forex.

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11/04/2024

Bank of Canada Upgrades Outlook for Economy, Remains Silent on Rate Cuts

The Bank of Canada maintained the overnight rate at 5.0%, while stating that it will continue with Quantitative Tightening (QT). In its quarterly Monetary Policy Report (MPR), the Bank upgraded its economic growth forecast, stating “this largely reflects both strong population growth and a recovery in spending by households. Residential investment is strengthening, responding to […]
26/04/2024

USD/JPY Volatile After Inflation, BoJ Meeting

The Japanese yen is swinging sharply on Friday. In the European session, USD/JPY is trading at 156.46, up 0.52%. It has been a busy Friday in Japan. Japanese inflation data, which was released just before the end of the Bank of Japan meeting, was much lower than expected. Tokyo Core CPI, which was overshadowed by […]
08/08/2024

Gold Outlook: Bounces as Bulls Regain Traction After Recent Fall

Gold regained traction and bounced on Thursday, following a sharp fall in past few days. Fresh strength signals that the situation is stabilizing after a turbulent period and broader bulls are about to re-take control. The yellow metal benefited from growing signals that the Fed will start cutting interest rates as from September, with US […]