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Canadian economic growth started 2025 on strong footing, growing by 0.4% month-on-month (m/m). This was a tick above Statistics Canada’s and consensus expectations for a 0.3% m/m gain. In February, Statistics Canada estimates that the Canadian economy held flat. January’s reading was broad-based, with output expanding in 13 of 20 industries. Growth in goods industries […]

The post Canada’s Economy Surged in January, But Near-Term Growth Poised to Cool appeared first on Action Forex.

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31/10/2024

Brent Crude Oil Wave Analysis

Brent crude oil reversed from long-term support level 70.00  Likely to rise to resistance level 75.00 Brent crude oil recently reversed up from the major long-term support level 70.00 (which has been reversing the price from the end of 2021). The support zone near the support level 70.00 was strengthened by the lower daily and […]
20/02/2024

EURJPY on the Rise Above 162.00, But for How Long?

EURJPY posts new 3-month high Momentum indicators are gaining ground Positive structure remains intact above short- and long-term diagonal lines EURJPY is skyrocketing above the 162.00 round number, recording a fresh three-month high. The market is completing a strong bullish rally after the bounce off the 158.90 support level, posting the tenth consecutive green day. […]
19/11/2024

GBPUSD Gains Traction Near Familiar Support Area

GBPUSD bulls step in after six-month low near 1.2600 Price near oversold area, but bullish area is above 1.3000 GBPUSD returned to gains after a six-day decline squeezed it to a six-month low of 1.2595. The pair rebounded near an important trendline from October 2023, and indicators like the RSI and stochastic oscillator suggest the […]