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Brent crude oil continues its rally, reaching peak values since early November 2023, with prices around USD 87.00 per barrel. Investor concerns over commodity supply, particularly due to tensions in several oil-producing countries, significantly influence quotes by incorporating potential supply disruptions. Iraq has announced a reduction in crude oil exports to 3.300 million barrels per […]

The post Brent Oil Prices Continue to Surge, Reaching New Peaks appeared first on Action Forex.

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08/04/2024

XAU/USD: Gold Hits New Record High Above $2,300

Gold continues to trend higher and posted new record high ($2354) in early Monday trading, in extension of last week’s 4% advance, which generated strong bullish signal on weekly close above psychological $2300 barrier. The metal remains well supported by strong safe-haven demand, as well as expectations that the Fed will cut rates (as early […]
08/06/2024

Weekly Focus – ECB in No Rush to Commit to Further Ccuts

The ECB delivered the widely anticipated first 25bp rate cut but kept its forward-looking guidance vague. Lagarde noted there was a ‘strong likelihood’ the ECB would dial back the restrictiveness of their monetary policy going forward but was not ready to pre-commit or even discuss the possible timing of the next cut. The updated economic […]
17/12/2023

Forex and Cryptocurrencies Forecast

EUR/USD: Dovish Fed Reversal The fate of EUR/USD was determined by two events last week: the FOMC (Federal Open Market Committee) meeting of the US Federal Reserve and the meeting of the Governing Council of the European Central Bank (ECB), which took place a day later. As a result, the euro emerged victorious: for the […]