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AUDUSD rose to one week high on Tuesday morning, after the RBA kept interest rates steady at 12-year high and kept hawkish stance on persisting upside inflation risk, although remains ready to act if economy weakens more. Near-term action is holding within a recovery leg from 0.6587 (Oct 30 low) and was boosted by Monday’s […]

The post AUD/USD Outlook: Hawkish RBA Lifts Aussie Dollar Towards Key Resistance Zone appeared first on Action Forex.

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07/03/2024

Canada’s Trade Accounts Register a $496 Million Surplus in January

Canada’s merchandise trade balance flipped back into black ink after December’s deficit, which was revised downward to $863 million. January’s surplus was modest at $496 million, as exports fell less than imports. Exports fell by 1.7% month-on-month (m/m) in January, a third consecutive pull back. The contribution was broad-based, with 8 of 11 sectors posting […]
05/01/2024

EUR/USD Slips, Eurozone Inflation Rises

Eurozone inflation rises, core rate dips US nonfarm payrolls expected to drop to 177,000 The euro is in negative territory on Friday. In the European session, EUR/USD is trading at 1.0908, down 0.33%. Eurozone inflation rises to 2.9% Eurozone inflation has been falling and dropped to 2.4% y/y in November, within striking distance of the […]
10/05/2024

Gold Price Regains Strength While Crude Oil Price Recovers

Gold price started a fresh increase above $2,320. Crude oil is recovering and might rise toward the $81.20 resistance zone. Important Takeaways for Gold and Oil Price Analysis Today Gold price started a decent increase from the $2,300 zone against the US Dollar. It broke a key descending channel with resistance at $2,315 on the […]