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USDCAD brings key resistance in focus after rebound Technical signals are encouraging, but a bullish outlook expected above 1.3600 USDCAD made a strong comeback on Thursday, surpassing its simple moving averages (SMAs) and breaching the 1.3500 level after encountering fresh buying around the familiar long-term line from November 2022. The 50% Fibonacci retracement of the […]

The post Is USDCAD Poised for Another Bullish Round? appeared first on Action Forex.

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Yen Weakens Despite Japan’s Deflation Exit

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25/07/2024

Analysis of USD/JPY: Yen Strengthens by 5.5% Against US Dollar in 2 Weeks

On Thursday, 11 July, the USD/JPY exchange rate was above 161, and today it is below 153. According to Reuters, this could be attributed to effective intervention by the Bank of Japan. While intervention was anticipated when the yen weakened to extreme levels not seen since 1983, Tokyo authorities were cryptic in their comments, maintaining […]
18/01/2024

Lagarde Pushes Back Against a Springtime Cut

In focus today Today focus in the euro area will be on minutes from the December ECB meeting. As for data releases Thursday looks rather light, however in the US the Philly Fed Manufacturing Index comes out. Consensus expects an improvement. A few central bankers are scheduled to speak today with SNB chairman Jordan speaking […]
18/04/2024

Australian Dollar Shrugs Off Soft Job Numbers

The Australian dollar is steady on Thursday. In the European session, AUD/USD is trading at 0.6442, up 0.12%. Australia’s employment declines Australia’s job growth hit the breaks in March and fell by 6,600. This missed the market estimate of a gain of 7,700 and follows a blowout gain of 116,500 in February. Still, the drop […]