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Gold started the week with a decisive renewal of all-time highs, reaching the maximum spot price of $2531 per troy ounce. However, the bulls failed to seize the initiative finally, and on Thursday, gold lost more than 1%, falling back to the depths of the upward trend established in April. We also pay attention to […]

The post Gold Struggles After Reaching New Highs appeared first on Action Forex.

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21/06/2024

Focus Turns to June PMIs After Central Bank Bonanza

In focus today After yesterday’s hawkish surprise from Norges Bank, we revise our call for the first rate cut to come in March 2025 rather than September this year, see more below. This morning at 8.00 CET we get UK retail sales for May and later in the day June PMIs where consensus is for […]

Happy Triple Witching Day

The Swiss National Bank (SNB) cut its rate by another 25bp yesterday. The latest uptick in inflation didn’t bother the Swiss policymakers who considered that inflation remains in check in Switzerland. They preferred to give the economy – especially the Swiss exporter and families with mortgages – the additional support they needed. The market reaction […]
10/08/2024

Markets Weekly Outlook – US CPI to Test Markets Following Tumultuous Week

US equities rebounded from a selloff earlier in the week, ending slightly higher. However, caution remains due to upcoming economic data releases. The Japanese Yen is heading for its first losing week in six, impacted by a peak in short-position unwinding and dovish BoJ comments. The upcoming week features significant data releases, including US and […]