Canada’s economy contracted 1.6% annualized in Q2 2023, surprising analysts who expected growth. Weak consumer spending, falling exports, and lower business investment highlight mounting recession risks. This downturn intensifies pressure on the Bank of Canada to reconsider interest rate hikes amid a slowing economy.
Weekly Forex Analysis by Haresh Menghani: EUR/USD faces downward pressure amid strong US data and cautious ECB outlook, with support near 1.0650 and resistance around 1.0800. GBP/USD remains capped due to UK growth concerns and BoE policy uncertainty. AUD/USD shows resilience supported by commodity prices but remains sensitive to global risk sentiment. Stay tuned for detailed technical insights and key economic releases shaping these pairs in the coming days.
The latest Weekly Economic and Financial Commentary highlights cautious optimism amid mixed global data. The US shows resilience with a cooling labor market and persistent inflation. Europe faces uneven growth and inflation challenges, while Asia’s recovery remains uneven, with China grappling with structural issues. Central banks maintain vigilance as markets navigate uncertainty and tightening financial conditions. The US dollar remains supported by rate differentials and safe-haven demand.
US dollar faces pressure as Fed signals possible rate cuts ahead of key PCE inflation data. Powell’s dovish tone fuels speculation of easing, prompting caution among investors. Upcoming PCE release will be critical in shaping the Fed’s next moves and the Greenback’s trajectory against EUR and GBP.
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Canada’s economy contracted by 1.6% annualized in Q2 2024, surprising economists and fueling recession fears. Weaker consumer spending, a cooling housing market, and inventory drawdowns drove the decline. The Bank of Canada may delay rate hikes or consider cuts as growth stalls and inflation remains a concern.
Weekly Forex Analysis: EUR/USD faces resistance near 1.0940 with downside risk below 1.0720 amid cautious momentum and ECB-US policy divergence. GBP/USD remains sensitive to UK data and US trends, while AUD/USD contends with global growth concerns. USD volatility persists as markets digest Fed outlook and inflation updates. Comprehensive insights from FXStreet, DailyFX, and Investing.com highlight a balanced but cautious outlook for major USD pairs this week.
European markets close with the dollar steady and stocks easing as traders await key US PCE inflation data and month-end flows. Markets remain cautious ahead of Federal Reserve guidance, with currency pairs holding tight ranges and volatility expected heading into June.
EUR/USD maintains key support near 1.0800 but bullish momentum is fading as RSI rolls over and volume weakens. The pair faces resistance around 1.0880–1.0900, with a rising wedge pattern signaling potential reversal. Further gains depend on stronger data or shifts in market sentiment.
Elliott Wave analysis of USDJPY as of Sept 1, 2025 shows a completed five-wave impulse and a corrective phase underway. A double zig-zag correction suggests short-term rallies may mislead before bearish potential unfolds. Key support near 145 and 141.75 likely targets ahead. #Forex #USDJPY #ElliottWave
