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Gold prices have recently dipped to 2507 USD per troy ounce but are poised for a potential rebound due to increased demand for safe-haven assets amid escalating conflict in the Middle East. Additionally, anticipations of monetary policy easing by the US Federal Reserve in September further bolster gold’s outlook. Monetary Policy and Market Dynamics Last […]

The post Gold’s Price Prospects Amid Middle East Tensions and Fed Policies appeared first on Action Forex.

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British Pound (GBP) Price Action Ideas: Sterling Set for Correction? GBP/USD, EUR/GBP and GBP/JPY

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08/02/2024

AUD/USD Outlook: Dips After Soft China CPI Data

AUDUSD eased below 0.6500 mark (cracked Fibo 61.8% of 0.6270/0.6871 rally) on Thursday, deflated by softer than expected China inflation data. Fresh weakness emerged after recovery attempts from 0.6468 (new 2024 low, posted on Feb 5) were repeatedly capped by 100DMA (0.6530), keeping the larger bearish technical picture intact. Daily moving averages remain in full […]
10/08/2024

U.S. Inflation Likely Held Steady in July

All eyes will be on Wednesday’s U.S. inflation print after a larger-than-expected increase in the unemployment rate and softening in the manufacturing sector a week ago heightened concerns that the Federal Reserve may need to respond with more aggressive interest rate cuts than previously thought. Economic data since then have somewhat calmed concerns with the […]
29/11/2023

GBP/USD Eyes Additional Gains, US GDP Next

Key Highlights GBP/USD is aiming for more gains above 1.2750. A key bullish trend line is forming with support at 1.2600 on the 4-hour chart. Gold prices are accelerating higher above the $2,025 resistance. The US GDP could grow 5% in Q3 2023 (Preliminary), up from 4.9%. GBP/USD Technical Analysis The British Pound started a […]