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USDCAD battles with 200-day SMA Holds above downtrend line But momentum indicators show weak signals USDCAD is holding above the medium-term ascending trend line and is moving back and forth from the flat 200-day simple moving average (SMA) at 1.3483. The technical indicators are still located in the bullish area, with the MACD stretching slightly […]

The post USDCAD Looks Ready for Bearish Retracement appeared first on Action Forex.

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03/04/2024

Stars Aligned for Dollar Yesterday, But Greenback Succumbed

Markets German Bunds opened softer yesterday in a catch-up move with the US Treasury sell-off on (Easter) Monday. Selling pressure remained until the start of US trading despite lower-than-expected German CPI data and a slight fall in short-term (1-yr) inflation expectations in an ECB Survey. Both cement the case for a (discounted) June ECB rate […]
14/12/2023

December FOMC: Dipping Dots – The Monetary Policy of the Future

Summary The doves won the day at the last FOMC meeting of 2023. The Federal Reserve left its policy rate unchanged at its December 12-13 meeting, a move that was widely anticipated. More important were the changes to the post-meeting statement and the latest Summary of Economic Projections (SEP). The new statement noted that inflation […]
13/09/2024

Back to the (Slow) Grind?

Rising taxation has dragged on household incomes and spending. Even with expanding public demand, this has helped to lower the growth outlook for the next couple of years. This week we released our refreshed forecasts in our September Market Outlook (PDF 2MB) publication. While the short-run outlook is broadly the same, the balance of risks […]