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U.S. Highlights The Federal Reserve Senior Loan Officer Opinion Survey showed that most banks tightened lending standards further in the first quarter, with demand for loans falling in concert. Growth in U.S. consumer credit slowed materially in March as the upward trend in rates through the first quarter weighed on volumes. Federal Reserve officials reiterated […]

The post The Weekly Bottom Line: Canada – Jobs Surge Delays Rate Cut Bets appeared first on Action Forex.

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05/07/2024

XAU/USD Outlook: Gold Price Remains at the Front Foot Ahead of US NFP Report

Gold price rose further on Friday morning and pressuring important technical barriers ahead of release of key US NFP report. The metal rose around 1.7% for the week so far, benefiting from weaker dollar on soft US macroeconomic data, which point to a slowing US economy and boost bets for possible Fed rate cut in […]
20/08/2024

Canadian Inflation Eases Further Towards BoC’s Target

Headline CPI inflation edged lower in July to 2.5% year-on-year (y/y), right on consensus expectations. This was the lowest reading since March 2021. The deceleration was driven by base year effects (lower price growth relative to last July) for items like travel tours (-2.8% y/y), passenger vehicles (-1.4% y/y) and electricity (-0.8% y/y). Offsetting this […]
29/05/2024

Accelerating German Inflation Supports Euro on the Downturn

German inflation confirmed an acceleration. Harmonised CPI rose to 2.8% vs 2.4% a month earlier and 2.3% in March. This is positive news for the Euro, which is lagging behind the Pound and relatively weak against the Dollar, based on expectations of a looser ECB monetary policy against rivals. A fresh batch of data from […]