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The Bank of Canada will be closely watching September’s consumer price index report, August’s retail sales data as well as its own Q3 Business Outlook Survey in the coming week ahead of an interest rate decision on Oct. 29. It is unlikely that policymakers cut rates in September expecting that just one 25 basis point […]

The post Forward Guidance: Inflation and Retail Data to Guide Next BoC Interest Rate Move appeared first on Action Forex.

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29/04/2024

EUR/USD Eyes Recovery But Faces Uphill Task

Key Highlights EUR/USD started a recovery wave from the 1.0600 zone. A key bullish trend line is forming with support at 1.0680 on the 4-hour chart. GBP/USD is eyeing an upside break above the 1.2550 resistance zone. Gold prices are consolidating near the $2,320 zone. EUR/USD Technical Analysis The Euro extended its decline below the […]
08/12/2023

Cliff Notes: Policy’s Effect Being Felt

Key insights from the week that was. Q3 GDP for Australia surprised to the downside, printing 0.2% (2.1%yr). Relative to expectations, the key disappointment in the quarter was consumer spending, unchanged in Q3 after just a 0.1% gain in Q2. Per capita consumption growth is in the realm of –2.0%yr, second only to the GFC […]
13/03/2025

Gold: Price Nears New Record High as Growing Uncertainty Continues to Fuel Safe Haven Demand

Gold price rose further on Thursday and pressure all-time high $2956 (Feb 24) after fresh post-US CPI acceleration took out last significant barriers at $2926/30. Growing fears of economic slowdown on escalating trade war that contributes to scenario of more Fed rate cuts, along with lower than expected US inflation in February, further boosted demand […]