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In focus today Today the Bank of Canada announces its October monetary policy decision. Both markets and analysts are leaning towards a 50bp rate cut to 3.75% although it is a close call. Our base case is for a slight hawkish surprise as we pencil in a dovish 25bp cut to 4.0%. Focus in the […]

The post Investors Eye Asset Havens Amidst Continued Unrest in the Middle East appeared first on Action Forex.

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17/08/2024

Week Ahead – Jackson Hole and PMIs Enter the Spotlight

As recession fears ease, investors lock gaze on Jackson Hole Eurozone and UK PMIs to affect ECB and BoE expectations Canadian inflation could back third consecutive BoC cut Japan’s Nationwide CPI data also on the agenda Jackson Hole to test overly dovish Fed cut bets Following the unjustified panic triggered by the weaker-than-expected NFP report […]
30/01/2024

XAUUSD: Consolidated with Bearish Outlook Below 2040

Bullish Scenario: Consider buying above 2028.50 with TP1: 2033, TP2: 2036, and TP3: 3039 on extension. It is recommended to set a stop loss (S.L.) below 2024.5 or at least 1% of the account capital**. Bearish Scenario: Look for sales below 2024 with TP1: 2000, TP2: 2016, and upon breakout TP3: 2013. It is advisable […]
09/05/2024

NZDUSD Bulls Face Strong Resistance

NZDUSD is under pressure following a strong rally from the 2024 lows It has met strong resistance at both the 200-day SMA and a key trendline Momentum indicators are mixed; a bearish divergence is developing After testing the 2024 low at 0.5851 and recording a sizeable rally, NZDUSD is now hovering a tad below the […]