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Oil prices are currently stable, but OPEC+ is likely to extend oil output cuts into Q1 2025 due to weaker global demand. China’s oil demand may have peaked due to a decline in transport fuel demand and the rise of electric vehicles. Upcoming API and EIA oil inventory data releases will provide insights into U.S. […]

The post OPEC+ Meeting in Focus: Will Oil Production Cuts Continue Through March 2025? appeared first on Action Forex.

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AUDUSD Trapped in a Bearish Formation

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Swiss CPI Declines in November

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09/11/2024

The Weekly Bottom Line: Trump Victory Likely to Bring Big Policy Changes

Canadian Highlights Donald Trump’s election victory means heightened macroeconomic uncertainty north of the border. Canada’s labour market put in a decent showing in October as the unemployment rate steadied, while job creation continues. A hefty increase in preliminary housing sales data for October may be proof that interest rate cuts are beginning to boost housing […]
04/12/2024

USD/JPY Technical Analysis: Is a Short-Term Pullback Imminent Despite USD/JPYs Slide?

USD/JPY continues its decline, with a fresh low around 148.797. Bank of Japan (BoJ) Governor Ueda’s hawkish rhetoric suggests a potential rate hike sooner than later. Technical analysis indicates a potential short-term pullback towards 150.00, despite the overall downward trend. USD/JPY has continued its decline today having displayed some resilience with a brief pullback in […]
20/05/2024

Gold Hits New Record High

On Monday, a troy ounce of gold set a new price peak of 3438.00 USD. This surge was fuelled by renewed speculation about potential interest rate cuts by the US Federal Reserve, vigorous gold purchases by banks globally, and strong investor demand for safe-haven assets. Recent statistics indicating a slowdown in consumer inflation in the […]