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Fundamental Analysis The Canadian dollar (CAD) is under significant pressure due to the drop in Canada’s annual inflation rate, which fell to 1.6% in September 2024, well below the Bank of Canada’s (BoC) 2% target. This price slowdown, primarily driven by the decline in gasoline and transportation costs, has fueled expectations of a 50-basis-point rate […]

The post USDCAD Eyes 1.39: Bullish Momentum Builds in Linear Regression Channel appeared first on Action Forex.

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12/04/2024

Will US Retail Sales Add Juice to the Dollar’s Rally?

US retail sales will hit the markets at 12:30 GMT Monday Early Easter holiday likely boosted consumer spending Another solid dataset could put more wind in the dollar’s sails US economy outperforms By most indications, the US economy finished the first quarter on a high note. Incoming data point to a robust labor market, which […]
02/01/2024

Could Euro Area CPIs Unsettle ECB Rate Cut Expectations?

New year starts with the December inflation report testing ECB’s hawkishness Market looks for a sizeable pickup in CPI, creating doubt about the rate cuts priced in German CPI figure released on Thursday; the euro area aggregate on Friday 10:00 GMT The new year starts on a rather high note With market participants recovering from […]
07/12/2023

Gold Price Trims Gains, Can This Key Support Hold?

Key Highlights Gold prices rallied toward $2,150 before a downside correction. It broke a key bullish trend line with support near $2,035 on the 4-hour chart. Crude oil prices extended losses and traded below the $72.00 support. EUR/USD failed to stay above the key 1.0820 support. Gold Price Technical Analysis Gold rallied above the $2,000 […]