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Gold price rose further in early Tuesday following more dovish tones from Fed Powell in his speech on Monday, which contributes to growing expectations that the Fed may soon decide to start cutting interest rates. Powell pointed to the recent inflation data which boost optimism that inflation remains on track towards 2% target, fueling hopes […]

The post XAU/USD: Gold Advances Further on Powell’s Dovish Stance appeared first on Action Forex.

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11/06/2024

Instrument of the Week (June 10—14): GBPJPY Insight

The GBPJPY pair reflects the exchange rate between the British Pound and the Japanese Yen, influenced by the economic conditions and monetary policies in the United Kingdom and Japan. The British Pound is affected by UK economic indicators, political events, and the Bank of England decisions. On the other hand, the Japanese Yen is impacted […]
03/01/2024

Gold Begins 2024 on a Weak Note

Gold has a cautious start to the new year Technical signals weaken but need confirmation Gold opened the new year with mild losses after its bullish attempts to close above the May 2023 bar of 2,079 proved fruitless in the last week of December. The price is currently trading muted slightly below the 23.6% Fibonacci […]
09/09/2024

USDJPY Pauses, But This is Temporary

The USDJPY pair halted its decline around 142.98 on Monday. However, this pause in the yen’s rally should not be misleading, as it comes amid uncertainty surrounding the extent of the anticipated monetary policy easing by the US Federal Reserve. The latest US employment report provided little information for adjusting forecasts of the Fed’s interest […]