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The Canadian dollar collapsed by more than 1.4% against the US dollar after Trump threatened to impose new 25% tariffs on goods from Mexico and Canada and to increase tariffs on China by 10% immediately after taking office. Following the announcement, USDCAD jumped to 1.4170, a high since 23 April 2020. The context is interesting […]

The post Loonie’s Turbulent Times Have Just Begun appeared first on Action Forex.

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Australian Dollar Under Pressure, CPI Next

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AUDCAD Rebounds from Near Key Uptrend Line

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08/06/2024

Weekly Focus – ECB in No Rush to Commit to Further Ccuts

The ECB delivered the widely anticipated first 25bp rate cut but kept its forward-looking guidance vague. Lagarde noted there was a ‘strong likelihood’ the ECB would dial back the restrictiveness of their monetary policy going forward but was not ready to pre-commit or even discuss the possible timing of the next cut. The updated economic […]
15/10/2024

USDJPY Wave Analysis

USDJPY broke resistance zone Likely to rise to resistance level 152.00 USDJPY currency pair recently broke through resistance zone located between the key resistance level 149.30 (former top of wave b from the middle of August) and the 61.8% Fibonacci correction of the downward impulse wave from July. The breakout of this resistance zone continues […]
09/08/2024

USDCAD Bears Take a Break But Are Not Done Yet

USDCAD experiences worst week of the year Selling pressure might persist; eyes on 1.3730 Canadian employment figures due at 12:30 GMT Since reaching a 22-month high of 1.3945, USDCAD has been steadily dropping towards its 50-day SMA at 1.3730, making it the worst-performing week of the year. The broken resistance trendline drawn from April’s peak is […]