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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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28/08/2024

NZD/USD Reaches Annual High Amid USD Weakness

The NZD/USD pair has climbed to the highest level since 15 January 2024, continuing its trajectory within an ascending channel towards a target of 0.6233. The New Zealand dollar’s growth is primarily fuelled by the weakening US dollar, mirroring trends observed with other currencies such as the AUD and CAD. Investor sentiment is buoyed by […]
26/07/2024

Elliott Wave Intraday Analysis: CHFJPY Bouncing Higher from Support Zone

Short Term Elliott Wave view in CHFJPY suggests the decline from 7.11.2024 high unfolded as a zigzag structure. Down from 7.11.2024 high, wave A ended at 175.84 and rally in wave B ended at 177.64. The pair then extended lower in wave C with internal subdivision as an impulse. Down from wave B, wave ((i)) […]
10/04/2024

All Eyes Turn to US March CPI Today

Markets The payrolls-effect on core bond yields faded ahead of the important US CPI figures scheduled for release today. US Treasuries recovered, pushing yields between 4.7 and 6.2 bps lower. German rates dropped 3.9 (2y) to 7 bps (30y) with the ECB’s Bank Lending Survey strengthening the case for a June rate cut. That said, […]