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Brent crude oil has reached $85.40, marking a continued increase over two consecutive sessions. This upward trend is primarily supported by recent US energy inventory statistics, which showed a significant decrease of 4.87 million barrels against an anticipated decline of 0.8 million barrels. This marks the longest stretch of inventory reductions since last September, underscoring […]

The post Brent Oil Price Trends Upward Amid Positive Market Signals appeared first on Action Forex.

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20/03/2024

EURGBP Struggles to Surpass 23.6% Fibo

EURGBP remains in sideways channel Technical oscillators lose steam EURGBP is finding another strong obstacle to surpass within the medium-term trading range of 0.8497 to 0.8578. Specifically, the 23.6% Fibonacci retracement level of the down leg from 0.8765 to 0.8497 at 0.8560. The pair is also flirting with the 20- and the 50-day simple moving averages […]
06/05/2024

AUD/USD Hits One-month High, RBA Decision Next

The Australian dollar has started the week with modest gains. AUD/USD is up 0.25%, trading at 0.6624 in the European session at the time of writing. The Aussie is coming off a strong week, having gained 1.19%. RBA widely expected to pause The Reserve Bank of Australia meets on Tuesday and is widely expected to […]
27/06/2024

Will Core PCE Inflation Persuade Fed to Cut Rates?

US core PCE inflation index could resume downtrend Fed may ask more evidence before cutting interest rates EURUSD trades near key support zone. Is it time for an upside reversal? Inflation could hit a new low in May Friday will see the release of the Fed’s favorite core PCE inflation measure at 12:30 GMT as the […]