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Gold remains at the front foot and edges higher in early Monday, extending recovery into third straight day. The yellow metal regained ground after last week’s sharp fall, boosted by growing signals that the Fed may opt for 50 basis points rate hike in September. Weak US economic data warn of worse than expected scenario, […]

The post XAU/USD Outlook: Bulls Hold Grip Ahead of Key US Inflation Data appeared first on Action Forex.

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06/06/2024

GBP/USD Shows Signs of Strength, 1.3000 Next?

Key Highlights GBP/USD gained pace for a move above the 1.2800 resistance. A major bullish trend line is forming with support at 1.2750 on the 4-hour chart. Gold prices are gaining pace above the $2,350 resistance zone. EUR/USD is aiming for a move toward the 1.0950 level. GBP/USD Technical Analysis The British Pound remained in […]
18/09/2024

Markets Will Finally Get the Fed Verdict Today

Markets August US retail sales were supposed to provide final input yesterday as investors concluded their positioning going into today’s Fed policy decision. Overall the report was marginally stronger than expected (headline sales +0.1% vs -0.2% expected after a strong upwardly revised 1.1% in July, core control group sales 0.3% M/M as expected but July […]
11/07/2024

June CPI: September Rate Cut Incoming

Summary This morning’s CPI report was arguably the most encouraging one the FOMC has received since it began its inflation fight nearly two and a half years ago. Consumer prices declined by 0.1%, led lower by a drop in energy prices and a modest increase in food prices. Excluding food and energy, the core CPI […]