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We expect the Bank of Canada interest rate decision on Wednesday will be a very close call as our base case forecast assumes it will forego a rate cut for the first time since April 2024, but U.S. trade risks could still easily tilt odds towards a seventh consecutive cut. Outside of tariff risks, backward […]

The post Bank of Canada’s Interest Rate Decision Will be a Tough Call appeared first on Action Forex.

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31/01/2024

GBP/USD Eyes Fresh Increase, Fed Rate Decision Next

Key Highlights GBP/USD is holding the 1.2620 and 1.2600 support levels. A key declining channel is forming with resistance near 1.2700 on the 4-hour chart. EUR/USD extended losses toward 1.0800 and remains at risk of more downsides. The Fed interest rate decision is scheduled today (forecast 5.5%, versus 5.5% previous). GBP/USD Technical Analysis The British […]
13/08/2024

GBP/USD Eyes Recovery: Key Hurdles In The Way

Key Highlights GBP/USD started a recovery wave from the 1.2665 zone. It broke a major bearish trend line with resistance at 1.2750 on the 4-hour chart. Gold prices could again aim for a move above the $2,500 resistance. The UK Claimant count could change by 14.5K in July 2024. GBP/USD Technical Analysis The British Pound […]
27/08/2024

Gold’s Price Prospects Amid Middle East Tensions and Fed Policies

Gold prices have recently dipped to 2507 USD per troy ounce but are poised for a potential rebound due to increased demand for safe-haven assets amid escalating conflict in the Middle East. Additionally, anticipations of monetary policy easing by the US Federal Reserve in September further bolster gold’s outlook. Monetary Policy and Market Dynamics Last […]