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USD/CAD is in recovery mode but not out of the woods. Resistance within short distance at 1.4430-1.4465. Bank of Canada expected to lower interest rates. USDCAD has been in a gradual recovery phase over the past week, resuming its sideways structure from mid-December after a temporary drop to 1.4259. With the clock ticking down to […]

The post USD/CAD Holds Steady as BoC Decision Looms appeared first on Action Forex.

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05/01/2024

China’s Rise To The World’s Largest Economy Is Delayed

Summary The U.S. economy remains the largest economy in the world. But, will the U.S. be able to maintain that status forever? In our view, the answer is no. We believe China is on a path to eventually overtake the U.S. and become the world’s largest economy. However, China’s structural challenges and vulnerabilities combined with […]
16/07/2024

China Q2 2024: Diverging Sectors and Risks

China’s Q2 activity data again highlighted disparate conditions across the economy. New industry continues to surge ahead, but the consumer is being left behind. China GDP disappointed in Q2, gaining 0.7% after a 1.6% increase in Q1. Year-to-date at June, growth of 5.0% is down from 5.3% in March, but still consistent with authorities ambitions […]
14/11/2024

US PPI and Euro Area GDP Data on Today’s Menu

In focus today From the US, October PPI is due for release today. Yesterday’s CPI print was largely in line with expectations (see more in section below) hence it will be interesting to see if October PPI data mirrors this. In the evening, the Fed chair Powell will be on the wires. In the euro […]