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Gold has been on a winning streak, rising for seven straight months and gaining 21% so far this year. The key question now is whether this momentum will continue in September or if the metal will take a break. The future of gold prices will largely depend on upcoming U.S. economic data and interest rate […]

The post XAUUSD: Weekly Outlook appeared first on Action Forex.

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22/04/2024

SPX 500: How Low Can the Correction Go?

The S&P 500 has recorded three consecutive weekly losses since its recent all-time high level of 5,265 printed on 28 March 2024. Last week’s decline of -3.05% was its worst weekly performance since early March 2023. A clear break below its upward-sloping 50-day moving average put its medium-term uptrend phase in jeopardy. The current multi-week […]
16/07/2024

Trump Trade, China Trade, Reflation Trade, AI Trade

There are a few stories developing at the same time: The Trump trade consists of going long Bitcoin and equities (especially gunmakers, oil producers) and short the long term treasuries on expectation of exploding US debt with tax cuts, higher spending and growth supportive Trump policies. The yield on 30-year Treasuries yesterday surpassed the rate […]
16/08/2024

AUD/USD Climbs as RBA Maintains Firm Stance on Interest Rates

The Australian dollar (AUD) is witnessing a rise against the US dollar (USD) for the second consecutive day, reaching 0.6629. This upward movement is bolstered by the Reserve Bank of Australia’s (RBA) current policy stance. RBA Governor Michelle Bullock emphasized today that discussions on interest rate cuts are premature despite some easing in inflationary pressures. […]