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Republican president nominee Donald Trump prospect of winning the White House has increased in the past week based on data from betting markets. Resurgence of “Trump Trade” narrative has triggered a positive feedback loop into Gold (XAU/USD). An increase in tail-risk hedging activities also led to higher demand for Gold (XAU/USD). Watch the US$2,590 key […]

The post Gold Technical: Bullish Acceleration in Progress Reinforced by “Trump Trade” appeared first on Action Forex.

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24/01/2024

Sunset Market Commentary

Markets The main ‘news’ for (global) trading was already available from the BoJ policy decision early this morning. However, the impact especially on global bond markets was close to non-existent. The Bank left the parameters of its policy (-0.1% policy rate, 0.0% target for the 10-y yield with an allowed deviation of 1.0%), unchanged. The […]
08/11/2024

The Red Fork in the Road

We were already expecting loose US fiscal policy and higher interest rates across the curve on average than pre-pandemic. This week’s US election results push our view further in that direction. It is the nature of event risk that, when it is finally realised, it closes off some potential futures and narrows down the remaining […]
04/12/2024

EUR/USD Hugs 1.0500 Ahead of French No-Confidence Vote, Breakout Incoming?

EUR/USD hovers near 1.0500 as traders await the outcome of the French no-confidence vote. ECB policymakers suggest a 25 bps rate cut is likely in December. Technical analysis indicates key support and resistance levels for EUR/USD. The 1.0500 continues to serve as a magnet for EUR/USD with the pair moving higher or lower for brief […]