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The Canadian labour market came back down to earth in February, adding just 1.1k positions, compared to a gain of 76k in January. Full-time positions declined (-19.7k), offset by gains in part-time (+20.8k). The unemployment rate held at 6.6%, as the labour force contracted for the first time in seven months. Easing population flows were […]

The post Canada’s Jobs Market Gets Buried in Snow in February appeared first on Action Forex.

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31/07/2024

USD/JPY Technical: JPY Strength Halted Right at 151.70 Support as BoJ Hiked Interest Rate. What’s Next for JPY?

BoJ hiked its overnight interest rate to 0.25% and announced its “Quantitative Tightening” plan, without much major surprises. USD/JPY sold off but still hovering above its 151.70 key short-term support. Cannot rule out the possibility of another minor mean reversion rebound in USD/JPY before a bearish impulsive down move sequence unfolds with next medium-term support […]
10/01/2024

EUR/USD Revisits Support While USD/CHF Aims Higher

EUR/USD started a fresh decline below the 1.0980 support. USD/CHF is rising and might aim a move toward the 0.8620 resistance. Important Takeaways for EUR/USD and USD/CHF Analysis Today The Euro struggled to clear the 1.1000 resistance and declined against the US Dollar. There is a major bearish trend line forming with resistance near 1.0945 […]
24/01/2025

USD/JPY Increase on Hold: Here’s Why The Pair Could Struggle

Key Highlights USD/JPY started a fresh increase above the 155.80 resistance. It cleared a connecting bearish trend line with resistance at 156.35 on the 4-hour chart. EUR/USD started a consolidation phase below the 1.0465 resistance. GBP/USD could face hurdles near the 1.2400 and 1.2420 levels. USD/JPY Technical Analysis The US Dollar found support at 154.80 […]