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Gold spiked to new record high above $2100 in early Monday, in reaction to the comments from Fed Chair Powell on Friday, who said that current level of interest rates is sufficient to complete the task in putting inflation under control and pushing it towards 2% target. Although the job was not done yet and […]

The post XAU/USD: Gold Hit New All-time High, Bullish Bias Above $2000 appeared first on Action Forex.

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26/01/2024

Sunset Market Commentary

Markets The key events to watch today were the ECB policy decision and important US data. The main conclusion of the latter is that they, once again, underscore the resilience of the world’s largest economy. Quarterly growth in the last three months of 2023 came in at 3.3%, easily beating a 2% estimate. Beneath the […]
20/03/2024

NZDUSD in the Red Again Ahead of Fed

NZD remains on the back foot against USD NZDUSD has finally broken below its one-year-long rectangle Momentum indicators acknowledge the current bearish move NZDUSD is recording another red candle today and it is trading below the lower boundary of the one-year-old rectangle and the busy 0.6060-0.6092 area. It has actually registered a new 2024 low […]
26/01/2024

US: Economic Resilience Remains on Full Display in Q4 GDP Data 

Real GDP expanded by 3.3% quarter-over-quarter (q/q, annualized) in the fourth quarter of 2023 – well ahead of the consensus forecast calling for a more modest gain of 2%. For the year, real GDP grew by an impressive 2.5%. Consumer spending remained hot, rising 2.8% – a very modest deceleration from the 3.1% gain recorded […]