Canadian GDP likely declined in May – in line with the 0.2% drop in Statistics Canada’s preliminary estimate a month ago. We do not expect another drop in June. Auto production bounced back after another round of factory shutdowns in May. Activity in the oil & gas sector has increased on higher global energy prices. […]
The post Forward Guidance: GDP Growth Slowing as Capacity Constraints Bind appeared first on Action Forex.
EUR/USD edged higher to 1.1494 last week but lost momentum again. Initial bias stays neutral this week first. Price actions from 1.1572 are seen as a corrective pattern to rally from 1.0716. While rebound from Read more…
USD/JPY was still bounded in established range last week. Initial bias stays neutral this week first. On the upside, above 146.27 resistance will argue that price actions from 148.64 has completed as a corrective pattern. Read more…
GBP/USD edged higher to 1.3615 last week but quickly lost momentum again. Initial bias stays neutral first. Further rise will remain in favor as long as 1.3414 support holds. Above 1.3615 will target 100% projection Read more…