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Brent crude oil prices climbed above 74 USD per barrel following OPEC+’s announcement to delay its production increase originally scheduled for December. This decision marks the second postponement by OPEC+ amid persistent global economic challenges and aims to avoid potential market oversupply. Demand prospects remain subdued with Europe’s slow economic recovery and Asia’s lacklustre performance, […]

The post Brent Crude Rises as OPEC+ Delays Production Increase appeared first on Action Forex.

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12/06/2024

Market Analysis: EUR/USD Dives While USD/JPY Continues To Rise

EUR/USD gained bearish momentum below the 1.0810 support. USD/JPY is rising and might take out the 157.40 resistance. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro started a fresh decline below the 1.0810 support zone. There is a connecting bearish trend line forming with resistance at 1.0760 on the hourly chart of EUR/USD […]
12/01/2024

US CPI Bounce Goes Unheard, Focus on Bank Earnings

Yesterday’s US inflation report wasn’t exactly ideal. The headline inflation rose more than expected to 3.4% from 3.1% printed a month earlier. Shelter, electricity, and food prices drove the overall CPI index higher in December. Especially, the shelter costs increased by more than 6%. But if you don’t count food and energy price inflation, core […]
02/05/2024

USD/JPY Calm Ahead of Fed Decision

Japanese yen is trading quietly on Wednesday. USD/JPY is trading at 157.68, down 0.07% at the time of writing. Fed expected to hold rates The Federal Reserve meets later today and is widely expected to keep rates unchanged for a sixth straight time. The target range for the benchmark rate of 5.25% to 5.5% hasn’t […]