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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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07/06/2024

USD/JPY Steady Despite Soft Household Spending

The Japanese yen is calm on Friday. In the European session, USD/JPY is trading at 155.50, down 0.06% on the day at the time of writing. Japan’s household spending slips Japan’s economic activity has been sluggish and household spending, a key driver of economic growth, declined by 1.2% m/m in April. This followed a 1.2% […]
26/09/2024

Short Term Elliott Wave Impulse in GBPJPY Favors Higher

Cycle from 8.5.2024 low in GBPJPY is in progress as a double three Elliott Wave structure. Up from 8.5.2024 low, wave (W) ended at 193.48 and pullback in wave (X) ended at 183.67. Internal subdivision of wave (X) unfolded as a zigzag. Down from wave (W), wave A ended at 187.23 and wave B ended […]
30/01/2024

Could BoE Maintain Its Hawkish Stance?

The BoE meets on Thursday but low expectations for significant announcements Quarterly projections could support market expectations for rate cuts Pound would benefit against the US dollar from a hawkish BoE meeting First rate-setting meeting for 2024 The Bank of England holds its first gathering for 2024 on Thursday at 12:00 GMT, a day after […]