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Ongoing hostilities in the Middle East region and the Red Sea shipping route have put a potential “floor” in oil prices due to the increasing risk of supply disruptions. The demand side has remained weak as China’s top policymakers have signalled a less forceful approach in enacting stimulus measures after PBoC left its 1-year MLF […]

The post WTI Oil Technical: Sideways Within a Potential Minor Bottoming Configuration appeared first on Action Forex.

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26/08/2024

Powell Gives the All-Clear

‘The time has come for policy to adjust, and the direction of the travel is clear’ said Federal Reserve (Fed) Chair Jerome Powell at his Jackson Hole speech on Friday. He didn’t give any guidance regarding the size of the coming rate cut despite speculation of at least one jumbo rate cut before the end […]
15/08/2024

Gold (XAU/USD) Bounces Back After US CPI, DXY Faces Challenges

Gold prices rebounded after a post-CPI selloff, aided by a struggling US Dollar Index. A sustained move above $2500/oz for gold may require an additional catalyst, like geopolitical risks. The DXY faces challenges and is likely to remain subdued, with technical indicators suggesting a potential retracement. Will it Materialize? Gold prices rebounded after a post-CPI […]
12/09/2024

ECB to Cut Rates by 25bp

In focus today Today, the ECB is widely expected by both analysts and markets to deliver a 25bp rate cut. The moderation in the labour market and economic activity since the June meeting should lead to a further increase in the confidence of the disinflationary process being on track, in particular given the slowdown in […]