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Oil prices slide after OPEC+ alliance delays meeting But recent headlines point to consensus Oil prices could gain, but any recovery may prove limited The meeting was postponed from Sunday to this Thursday OPEC+ delays decision on lack of consensus Oil prices tumbled after OPEC and other major oil producing nations, known as the OPEC+ […]

The post Will Deeper OPEC+ Output Cuts Matter for Oil Prices? appeared first on Action Forex.

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30/07/2024

AUD/USD Outlook: Holds in Extended Consolidation Above Strong Supports

AUDUSD remains in extended consolidation around the base of thick daily cloud (0.6538), and above pivotal Fibo support at 0.6528 (61.8% of 0.6362/0.6798), following a steep fall in past nine days. Bears are taking a breather on stretched daily studies, but remain in play (strong negative momentum, MA’s in full bearish configuration and creating a […]
28/05/2024

Euro Area Inflation Unlikely to Change ECB’s Outlook

ECB June rate move looks like a done deal May inflation could open the door to a July rate cut Euro could benefit from a stronger CPI print German CPI on Wednesday, eurozone report on Friday at 09:00 GMT Busy calendar, inflation stands out With the market counting down to next week’s ECB meeting, the […]
10/04/2024

Crypto Market Looking for Triggers

Market picture The cryptocurrency market did not find the strength to accelerate and rolled back almost 2.3% on the day to $2.6 trillion, but that is still a gain of 3.5% in seven days. In other words, the market is holding on to its uptrend but needs drivers for further movement. The US CPI report, […]