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The price of crude oil fell by 6% on Monday to $67 a barrel for WTI and $71 for Brent. This return to the lows of the last two months is due to Israel’s attack on Iran’s oil capacity. The aftermath and retaliatory rhetoric from politicians in both countries have fuelled speculation that both sides […]

The post Oil Nears to September Lows; May Crash to $30 appeared first on Action Forex.

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November Flashlight for the FOMC Blackout Period

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06/05/2024

How Low Can USDJPY Go?

USDJPY was slipping below 153 on Friday morning, a three-week low and having lost over 4.5% from a peak of 160.2 at the start of trading on Monday. Behind the pair’s rise is a long-term fundamental factor: a huge and widening interest rate differential with a shrinking trade surplus. Currency interventions of the Japanese Ministry […]
21/11/2024

EUR/USD Outlook: Continues to Move Within Extended Consolidation Range, But Larger Bears Hold Grip

EUR/USD remains biased lower as near term action stays within extended consolidation range above 13-month low (1.0495), with the upside being capped by solid barriers at 1.0600 zone (former low of Apr 16 / Fibo 23.6% of 1.0936/1.0495 / falling 10 DMA). Negative 14-d momentum and daily MA’s in full bearish setup support scenario, with […]
02/12/2023

Weekly Focus – Disinflation Continues

This week, inflation came in below expectations in the euro area and the US. In the euro area, headline inflation fell much more than expected to 2.4% y/y (consensus: 2.7% y/y) in November from 2.9% in October. The decline was broad-based as core inflation ticked down to 3.6% from 4.2%. Remarkably, the monthly change in […]