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The barrel of US crude tumbled almost 4% to nearly $65pb level, as Brent crude slipped below the $70pb mark after OPEC – which is normally optimistic – lowered its demand forecast for the second time in two months. The API data also showed that the US oil inventories fell by another 2.79 mio barrels […]

The post Brent Slips Below $70pb – Focus on US CPI appeared first on Action Forex.

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29/05/2024

AUD/USD Rises After Retail Sales Tick Higher

The Australian dollar has edged higher on Tuesday. AUD/USD is trading at 0.6667, up 0.25% on the day at the time of writing. Australia’s retail sales rise 0.1%, CPI next Australian consumers remain frugal and cautious, as retail sales rose just 0.1% m/m April. This was a rebound from the 0.4% decline in March and […]
11/06/2024

Gold: Bears Taking a Breather ahead of US CPI Data – FOMC Policy Decision

Gold price edged lower in early trading on Tuesday, following Monday’s limited consolidation of nearly 4% drop on Friday. Near-term outlook remains bearishly aligned after a massive loss last Friday, sparked by strong US jobs data and reports that China’s central bank paused gold purchases in May. Markets shift focus towards this week’s key events, […]
01/05/2024

ADP Hints at Another Strong NFP on Friday

The monthly ADP labour market report showed that America created 192K new jobs in April, above the forecasted 179K and following +208K in March (revised from 184K). Overall, there was a slight slowdown in wage growth to 5% y/y from 5.1% a month earlier, which is still quite high because of high employment and the […]