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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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17/09/2024

USD Easing Ahead of Fed Rate Decision

In focus today We receive the German ZEW data for September today. The assessment of the current situation has been stuck at very low levels the past year and the expectations component has fallen in the past two months following a strong rebound. As risk sentiment in markets in September has been sour, we expect […]
12/01/2024

USDCAD Bears Show Up Near Key Resistance

USDCAD pauses rebound near key resistance trendline Market sentiment remains fragile below 1.3440 USDCAD could not climb into the 1.3400 zone despite the slight positive surprise in the US CPI inflation numbers on Thursday, staying below the ascending trendline drawn from November 22. The pair also seems to be trapped between the upper 2021 ascending […]
19/07/2024

Another Cut from BoC Will Bring Benchmark Interest Rate to 4.5%

Softer inflation in Canada in June provided a small relief after an upside surprise in May, and set the Bank of Canada up for another 25-basis point interest rate cut on Wednesday to build on its first cut in June. Similar to the June meeting, we think the central bank will highlight a weakening economic […]