Logo-color Logo-white

USDCAD experiences worst week of the year Selling pressure might persist; eyes on 1.3730 Canadian employment figures due at 12:30 GMT Since reaching a 22-month high of 1.3945, USDCAD has been steadily dropping towards its 50-day SMA at 1.3730, making it the worst-performing week of the year. The broken resistance trendline drawn from April’s peak is […]

The post USDCAD Bears Take a Break But Are Not Done Yet appeared first on Action Forex.

previous

GBPJPY Climb Continues

next

EUR/USD Stabilises Amid Fed Speculation and Absence of Major Economic Data

Read More

23/01/2024

JPY: Bulls Eagerly Await the BOJ’s Move

The yen has experienced significant fluctuations in recent weeks, initially gaining ground against the weakening US dollar in December but subsequently losing those gains as the dollar rebounded in January. USD/JPY reached 148.80 on Friday, the highest level since November 28, prompting concerns that if the yen continues to depreciate, the Ministry of Finance might […]
06/07/2024

The Week Ahead – Will US Inflation Data Derail Market Optimism?

Soft US economic data, including lower-than-expected job growth, has increased market expectations for a September rate cut. The week ahead features important data releases, including US inflation figures and Chinese inflation data. US Inflation holds the key to a September rate cut. A decline in inflation could see significant changes to rate cut probabilities. Chart […]
05/03/2024

Will Bank of Canada Pave the Way for a Rate Cut after CPI Drop?

Bank of Canada kicks off March round of central bank meetings Dovish tilt is possible after CPI drops back below 3.0% Wednesday’s decision, due 14:45 GMT, may deepen loonie’s losses Progress on inflation The Bank of Canada heads towards its second policy meeting of the year with some good news on the inflation front. The […]