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The US dollar’s gains stalled last week, and on Tuesday, it lost a third of a cent against a basket of major currencies to 105.4 from a peak of 106.3 the week before. Yesterday’s pullback more closely resembles the start of broader profit-taking than a reversal of the dollar’s upward trend since early March. The […]

The post Dollar Pullback from Overbought Territory Boosts Appeal appeared first on Action Forex.

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26/06/2024

Gold Prices Under Pressure as Dollar Index (DXY), US Yields Rise

Gold continues its decline with $2300/oz firmly back in sight. US Dollar index and US 10Y yield continue to rise, US 10Y now at 4.275%. PCE inflation data could be the catalyst needed for gold prices to find some direction. Fundamental Overview Gold prices remain under pressure this morning as rising US yields and a […]
22/03/2024

SNB First G10 Bank to Cut Rates

In focus today It should be a quiet finish to a very busy week for macro news. Today we will get the second wage tally from the Japanese “spring wage offensive”. It will be interesting to see if the solid pay hike in big business has rubbed off more broadly. Today we also look out […]
16/01/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently exhibits a neutral overall momentum, suggesting a lack of a clear directional bias in the US Dollar. Price could potentially fluctuate between the 1st support and 1st resistance levels. Here are the identified support and resistance levels: 1st support at 101.90 is identified as an overlap support, […]