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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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06/02/2025

GBP/USD Technical: BoE’s Hawkish Cut Priced In, But GBP Bulls Now Approaching Key Resistance

GBP/USD has rallied by 2.1% from Monday, 3 February swing low. The 2-year yield premium shrinkage between UK sovereign fixed income over the US Treasury Note may trigger a bearish reversal on the GBP/USD. Watch the key medium-term resistance of 1.2610 on the GBP/USD. Since its swing low of 1.2249 printed on Monday, 3 February, […]
16/04/2024

AUDJPY Elliott Wave: Forecasting the Path

Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of AUDJPY Forex pair, published in members area of the website. As our members know we have been favoring the long side in YEN pairs. Recently we got a pull back that has made a clear […]
11/01/2024

US: Core Inflation Inches Down to 3.9% in December 

The Consumer Price Index (CPI) rose 0.3% month-on-month (m/m) in December, ahead of the consensus forecast calling for a more modest gain of 0.1% m/m. CPI rose 3.4% on a year-over-year basis – up from 3.1% in November. After having declined in each of the two months prior, energy prices inched higher by 0.4% m/m […]