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The Canadian dollar has steadied on Friday after a roller-coaster week. In the European session, USD/CAD is trading at 1.3889 at the time of writing, up 0.22% on the day. Canada’s job growth expected to slow With the tough battle against inflation largely won, the Bank of Canada has been a leader in the easing […]

The post USD/CAD Eyes Canadian Jobs Report appeared first on Action Forex.

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USDCAD Retains Bullish Bias Above 20-day SMA

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26/04/2024

Fed Preview – Cuts Still in the Horizon

The Fed is widely expected to maintain the Fed Funds Rate unchanged next week by both markets and analyst consensus. The Fed could announce upcoming tapering of the QT pace already next week, but we would not expect it to have a significant impact on financial conditions. With no new projections, the market will have […]
09/05/2024

WTI Crude Oil Wave Analysis

WTI crude oil reversed from support area Likely to rise to resistance level 80.00 WTI crude oil recently reversed up with the daily Hammer from the support area lying between the pivotal support level 77.00 (which has been reversing the price from February), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward […]
13/12/2023

WTI Oil: Hits the Lowest Levels in Nearly Six Months Ahead of FOMC Decision

WTI oil price hit new multi-month low on Wednesday morning, in extension of Tuesday’s nearly 4% drop which fully reversed recovery of past three days. Larger bears regained full control after limited correction and signal continuation of broader downtrend from 2023 peak ($95.00, posted on Sep 28). Higher than expected US inflation numbers for November […]