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Markets In the absence of important eco data and no new market moving political developments (in France or elsewhere), European market enjoyed a brief pauze after recent swings. European traders simply joined the countdown to the US payrolls which, alongside the November CPI data scheduled for next week, were supposed to provide last key input […]

The post Sunset Market Commentary appeared first on Action Forex.

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26/12/2023

Canadian Dollar Posts Another Strong Week

Canadian GDP remains flat for a second straight month PCE Price Index eases The Canadian dollar is showing limited movement on Tuesday. In the European session, USD/CAD is trading at 1.3248, down 0.14%. Canadian banks are closed for a holiday, which means it should remain an uneventful day for the Canadian dollar. As there are […]
05/09/2024

Loss of Interest Rate Support Weighed on Dollar

Markets Yesterday’s JOLTS report was yet another perfect illustration of market’s high sensitivity to the labour market since Fed chair Powell bombarded it to the single most important theme for policy. July Job openings in the US tumbled from a downwardly revised 7.94 mln to 7.67 mln, undershooting consensus by about 400k. Resisting the urge […]
24/04/2024

USDCAD Wave Analysis

USDCAD reversed from long-term resistance level 1.3840 Likely to fall to support level 1.3600 USDCAD currency pair continues to fall after the pair reversed down with the weekly Shooting Star from the major long-term resistance level 1.3840, which has been reversing the pair from 2022. The resistance level 1.3840 was strengthened by the upper weekly […]