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The Federal Reserve is widely expected to cut interest rates soon, which has boosted the appeal of gold. However, Daniel Ghali, a Senior Commodity Strategist at TDS, warns that a potential correction in gold prices is becoming more likely. Current investor positioning in gold has reached levels last seen during the pandemic, which often signals […]

The post Gold: Long-Term Bullish, Short-Term Correction appeared first on Action Forex.

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25/03/2024

Australian Dollar Stabilizes, Consumer Sentiment Next

The Australian dollar has started the week with slight gains, after sliding 0.86% on Friday. In the European session, AUD/USD is trading at 0.6530, up 0.24%. PBoC move sends Aussie sharply lower The Australian dollar ended the week with sharp losses after China’s central bank set the daily fixing of the Chinese yuan lower than […]
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Gold Nears Record High as Fed Rate Cut Looms

Gold prices have surged, reaching $2430 per troy ounce on Tuesday, flirting with historic highs. The recent spike in gold prices is largely attributed to comments made by Federal Reserve Chairman Jerome Powell, which have bolstered expectations of an impending interest rate cut. In his latest address, Powell highlighted that recent U.S. economic indicators are […]
25/03/2024

Canada’s January GDP to Edge Higher on Recovery from Quebec Strike

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