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Direction was mixed yesterday, as Tuesday’s hotter-than-expected US CPI print gave cold feet to investors regarding the Federal Reserve’s (Fed) ability to cut interest rates as soon as in June. The S&P 500 and Nasdaq consolidated near record, energy stocks helped tempering losses in the S&P500 as technology stocks traded down. The dollar index rebounded […]

The post Crude Oil Prices Rise as Ukraine Hits Russian Refineries appeared first on Action Forex.

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05/07/2024

EUR/USD Advances, DXY Eyes Trendline Break – Jobs Data Up Next

EUR/USD rises above 1.0800 due to weak US economic data and a weaker USD. Market anticipates a 71.6% chance of a rate cut in September. DXY is at a psychological support level ahead of US jobs data release. EUR/USD continued its upward momentum on US Independence Day, capitalizing on a weaker USD and low market […]
02/07/2024

USD/JPY Rises Up After GDP Downgrade

The Japanese yen has dropped below the 161 line on Monday. The yen is trading at 161.39 early in the North American session, down 0.35% on the day. Japan’s GDP revised sharply lower Japan revised its first-quarter GDP report to -2.9%, y/y, sharply lower than the initial reading of -1.8%. On a quarterly basis, GDP […]
24/04/2024

Gold Price Corrects Gains While Oil Price Regains Strength

Gold price rallied above $2,400 before correcting lower. Crude oil price is rising and it could climb further higher toward the $85.50 resistance. Important Takeaways for Gold and Oil Prices Analysis Today Gold price rallied significantly above $2,400 and recently corrected lower against the US Dollar. It cleared a key bearish trend line with resistance […]