Not really seeing downward momentum in underlying inflation

Share: Bank of Canada Governor Tiff Macklem said on Friday that they were concerned because they were not really seeing a downward momentum in inflation, per Reuters. Key quotes “Bank of Canada is not expecting a recession in Canada.” “When bank releases economic projections on October 25, we’re not going to be forecasting

AUD/USD, AUD/JPY Soar but is There Enough Momentum to Sustain?

Australian Dollar, AUD/USD, AUD/JPY – Near-Term Technical Update: Recommended by Daniel Dubrovsky How to Trade AUD/USD AUD/USD – Daily Chart Recent performance in the Australian Dollar against the US Dollar and Japanese Yen is setting up an interesting technical landscape. On the daily chart below, AUD/USD surged on Thursday, leaving behind a Bullish Engulfing candlestick

Bitcoin Posts a Fresh Three-Week High as Momentum Builds, Ethereum Underperforms

Bitcoin (BTC) and Ethereum (ETH) Prices, Charts, and Analysis: Bitcoin is rallying ahead of Wednesday’s FOMC meeting. Open interest is moving higher. Learn How toTrade Cryptocurrencies Recommended by Nick Cawley Get Your Free Introduction To Cryptocurrency Trading Bitcoin is back above $27k today as open interest in the largest cryptocurrency by market cap continues to

Kiwi stuck near 0.5900 as bullish momentum proves fickle

Share: Kiwi holding near the middle, set to finish Friday near where it started. Market flows are firmly in the hands of the US Dollar. Risk sentiment getting limited knock-on positive support from upbeat China outlook. The NZD/USD is set to finish Friday on a slight downstep, trading into the 0.5900 level and unable

AUD/USD Momentum Fading, AUD/JPY Triangle Breakout Next?

Australian Dollar, AUD/USD, AUD/JPY, Symmetrical Triangle – Technical Update: Recommended by Daniel Dubrovsky Get Your Free AUD Forecast The Australian Dollar is hovering just above key support against the US Dollar, which is the 78.6% Fibonacci retracement level at 0.6382. Meanwhile, as prices struggled to break lower, positive RSI divergence emerged, showing that downside momentum

Bullish Momentum Faces Stern Resistance

USD/CAD Analysis Slowing Economy Weighs on Future Monetary Policy Guidance The surprise economic contraction experienced in Q2 reflects the tightening of financial conditions in Canada as a result of historically fast acceleration in the benchmark interest rate. Q2 revealed declining growth which, when annualized as a percentage, represents a yearly decline of 0.2%. However, the

USD/JPY Momentum Fading, EUR/JPY Rising Wedge in Focus

Japanese Yen, USD/JPY, EUR/JPY – Technical Update: Will the Japanese Yen hold its ground at resistance? USD/JPY is struggling as momentum is fading EUR/JPY eyeing imminent Rising Wedge breakout Recommended by Daniel Dubrovsky Get Your Free JPY Forecast The US Dollar continues struggling to make further upside progress against the Japanese Yen. Resistance has been

USD/CAD Uptrend Losing Momentum, Hanging Man Eyed

Canadian Dollar, USD/CAD, Hanging Man – Technical Update: Recommended by Daniel Dubrovsky Get Your Free USD Forecast The Canadian Dollar has been losing ground to the US Dollar of late, but a closer look at USD/CAD shows that the near-term uptrend might be losing momentum. On the daily chart below, we can see that as