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USD/CAD surges as oil prices decline and US Dollar rises. Market anticipates less rate cuts in 2025 due to Trump’s return, impacting interest rate differentials. Potential US tariffs add headwinds for the Canadian Dollar. USD/CAD has been on a tear since the back end of September, rising some 550 pips over the past 6 weeks. […]

The post USD/CAD Outlook: 1.4000 Remains Elusive as US CPI Fails to Inspire Breakout appeared first on Action Forex.

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07/02/2024

Technical Outlook and Reviews

DXY: The DXY chart currently exhibits a bearish overall momentum, indicating a downward trend. The price could potentially make a bearish continuation towards the 1st support. The 1st support level at 103.73 is identified as a pullback support, reinforced by the presence of the 50% and 23.60% Fibonacci Retracement levels, indicating Fibonacci confluence. There is […]
06/12/2024

Canada’s Labour Market Shows Underlying Momentum in November

The Canadian labour market gained 50.5k positions in November. Most of them were full-time jobs, which rose 54.2k, while part-time employment fell 3.6k. The unemployment rate rose 0.3 percentage points to 6.8% as more people joined the labour force (+138k). The labour force participation rate rebounded 0.3 percentage points to 65.1% after two months of […]
13/11/2024

GBP/USD Outlook: Bears Take a Breather After Sharp Three-Day Fall

Cable is holding within a narrow consolidation in early Wednesday’s trading as bears started to run out of steam after steep fall (down 1.85%) in past three days. Tuesday’s break and close well below pivotal supports at 1.2846 (Fibo 76.4% of 1.2664/1.3434 / former base) and 1.2817 (200DMA) generated strong bearish signal. Markets await release […]