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Gold prices, stable above $2,000 per ounce, commenced the week on an uptrend driven by a rallying US dollar and anticipation surrounding the upcoming Federal Reserve meeting. Analysts highlight that the market is keen on the Fed’s signals for the coming months rather than immediate announcements. Gold touched $2,037 per ounce, holding near this level […]

The post XAUUSD: Review of Recent Price Action appeared first on Action Forex.

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25/04/2024

Yen in Search of New Lows, Commodity Currencies at a Low Start

In recent trading sessions, the dollar has been trading quite differently to leading currencies. Thus, the yen is reaching historical lows, European currencies have managed to correct, and the Australian and Canadian dollars are testing strategic supports. USD/JPY The absence of currency interventions from the Bank of Japan and strong macroeconomic data from the United […]
18/07/2024

Change of Heart from Fed Governor Waller Significant

Markets We’ve given Fed governor Waller plenty of attention this year. He’s been the voice of the large minority inside the Fed who from the beginning of the year has been pushing to keep policy rates at their peak levels for longer. Markets had to gradually retrace from huge easing bets at the beginning of […]
02/08/2024

USDCAD Hits 8-Month High, But It’s Not a Victory Yet

USDCAD marks new higher high after disappointing ISM manufacturing PMI A close above 1.3880-1.3900 is needed to postpone profit-taking US nonfarm payrolls eagerly awaited at 12:30 GMT USDCAD began the month on a positive note, swiftly recovering from its recent setback and reaching an eight-month high of 1.3877, slightly above April’s peak of 1.3844. The […]