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Canadian Highlights The threat of a 25% tariff on Canadian goods by President-elect Trump earlier this week impacted financial markets – pressuring the loonie lower by about 1.5%. It currently sits at 71 cents U.S. If implemented, the tariffs would result in a significant drag on the Canadian economy. GDP growth was soft in the […]

The post The Weekly Bottom Line: Turkey with a Side of Trade Uncertainty appeared first on Action Forex.

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Canada’s Labour Market Underperformance to Continue Ahead of BoC, Fed Meetings

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28/05/2024

Oil Gains on Mounting Mid-East Tensions, China Support

Yesterday was a slow Monday. The US and the UK markets were closed, the news flow was light and the trading volumes were thin. The barrel of US crude trades a touch below its 100-DMA. The tense geopolitical setup is supportive of further gains along with the rising US demand into summer and OPEC’s restrictive […]
20/06/2024

GBP Awaits Bank of England Verdict: Volatility Ahead?

GBP/USD In the first half of the current trading week, the GBP/USD pair has confidently stayed above the significant range of 1.2700-1.2650, continuously attempting to resume its upward trend. Today, everything could change. Depending on the outcome of the Bank of England meeting and the market’s reaction to the officials’ decision, the pair could either […]
17/12/2024

Recovering PMIs

In focus today In the afternoon, US November retail sales and industrial production are due for release. Leading soft indicators gave very conflicting signals in November, so the Fed will closely follow hard data releases for stronger conviction on the direction of the economy. In Germany, we receive two growth and sentiment indicators from Ifo […]