USD/CAD to move downward to 1.255 by year-end – BofA
Share: Will USD/CAD eventually fall in 2023? Economists at Bank of America Global Research expect the pair to dive towards 1.25 by the end of the year. USD/CAD Q1 forecast remains at 1.32 “We maintain our downtrend USD/CAD forecast for the year despite the Bank of Canada rate hike pause.” “We believe the […]
Caution triggers as global growth encounters a downward revision
Asian stocks are expected to remain cautionary as global growth has encountered a downward revision. Global markets are likely to remain on tenterhooks ahead of the US GDP release. Oil price has dropped below $80.50 as the US recession fears are still solid. Markets in the Asian domain are showing signs of caution amid the […]
XAU/USD could make a downward correction in the short term
Gold has climbed above $1,900 for the first time in seven months ahead of the weekend. But the technical outlook suggests XAU/USD eyes correction before extending rally, FXStreet’s Eren Sengezer reports. $1,880 aligns as initial support “XAU/USD’s near-term technical outlook points to overbought conditions with the pair trading slightly above the ascending regression channel coming […]