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USDCAD falls sharply, accelerating prevailing retreat Both the RSI and the MACD detect bearish momentum A break below 1.3425 could extend the fall towards 1.3350 For the outlook to brighten, a rebound above 1.3645 may be needed USDCAD fell sharply on Tuesday, extending the retreat that started on Thursday after the pair hit resistance at […]

The post USDCAD Tumbles and Hits Support Near 1.3425 appeared first on Action Forex.

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07/03/2024

Bank of Canada Maintains Interest Rate, No New Guidance on Cuts

The Bank of Canada maintained the overnight rate at 5.0%, while stating that it will continue with Quantitative Tightening (QT). The Bank highlighted the slowing in economic momentum, stating that growth “remained weak and below potential”, while emphasizing that “final domestic demand contracted with a large decline in business investment”. It also stated that “employment […]
25/11/2024

Weak Euro Area PMIs Raise Concerns Over Growth Outlook

In focus today Today, in Germany we receive the Ifo growth indicator for November. After the decline in German PMIs on Friday, the stage is set for a decrease in Ifo as well. Consensus suggests a decrease to 86 in November compared to 86.5 in October, still suggesting a German economy in weak condition. ECB’s […]
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Cliff Notes: 50 Proves the Magic Number

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