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Financial market participants expect an easing of the Fed’s monetary policy. The prospect of lower rates puts pressure on the value of the dollar, which in turn pushes up dollar-denominated assets. This contributed to the setting of record highs: → The price of BTC/USD exceeded 70k dollars per bitcoin → The price of XAU/USD exceeded […]

The post A Weak Dollar Is the Driver of Price Records for NASDAQ-100, BTC/USD, XAU/USD appeared first on Action Forex.

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16/09/2024

New Zealand Dollar Jumps as Services PMI Accelerates

The New Zealand dollar has started the new trading week with strong gains. NZD/USD is up 0.55% today, trading at 0.6191 in the European session at the time of writing. NZ Services PMI improves New Zealand’s services sector hasn’t shown growth in sixth months but there was a bit of positive news today as the […]
31/07/2024

USD/JPY Plummets as Bank of Japan Tightens Policy

The USD/JPY pair has experienced a sharp decline, currently at 152.79, following decisive monetary policy adjustments by the Bank of Japan (BoJ). In a significant shift, the BoJ raised its interest rate to 0.25% per annum and unveiled plans to scale back monthly bond purchases to approximately 3 trillion yen by Q1 2026. Further interest […]
05/07/2024

XAU/USD Outlook: Gold Price Remains at the Front Foot Ahead of US NFP Report

Gold price rose further on Friday morning and pressuring important technical barriers ahead of release of key US NFP report. The metal rose around 1.7% for the week so far, benefiting from weaker dollar on soft US macroeconomic data, which point to a slowing US economy and boost bets for possible Fed rate cut in […]