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Gold pulls back after hitting record high near $2430 Retreat remains short-lived as geopolitical risks escalate But demand from China seems to be slowing Yet, the chances for fresh advances remain elevated Geopolitics among the main drivers After hitting a record high at around $2,430 on April 12, gold entered a corrective phase due to […]

The post Can Gold Climb to a New Record High? appeared first on Action Forex.

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Preview of RBNZ: Persistent Inflation to Keep the Champagne Stoppered

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02/08/2024

WTI Crude Oil Hovers Beneath 200-day SMA

WTI trades within symmetrical triangle 20- and 50-day SMAs are ready for bearish cross WTI crude oil is moving back and forth from the 200-day simple moving average (SMA), with a strong resistance area near the potential bearish crossover between the 20- and 50-day SMAs. The price is developing within a symmetrical triangle in the medium-term […]
12/06/2024

A Meli-Melo of Politics and Economics

We have different moods on different continents this week. The European equities remained under the pressure of heating French political tensions on Tuesday, as the Republican President Ciotto suggested that his party should consider teaming up with Le Pen’s party – a limit that many Republicans still consider as being a thick red line that […]
26/07/2024

Fed Preview: Opening the Door But Not Pre-committing

We expect the Federal Reserve to maintain its monetary policy unchanged next week. Focus will be on upcoming rate cuts, which we expect to begin in September. The two latest CPI prints have built significant confidence in inflation remaining en route to target, but with the economy still on a stable footing, we doubt Powell […]