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EURUSD is losing 1.9% from Wednesday’s peak to a five-month low at 1.0650. US inflation data and ECB comments highlight the divergence of Fed and ECB monetary policy. Wednesday’s US inflation report appears to have set the trend for the dollar, taking it out of a more than four-month wander around its 200-day moving average. […]

The post EURUSD Has Bucked the Trend, Threatening to Fall Below Parity appeared first on Action Forex.

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NZ Dollar Slips as Manufacturing Softens

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The Weekly Bottom Line: One Hundred Days into 2024, Rate Cuts Remain on the Horizon

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24/04/2024

Stubbornly High Inflation Doesn’t Allow RBA to Cut Interest Rates Anytime Soon

Markets Disappointing April US PMI’s triggered some short covering in US Treasuries. The composite PMI declined from 52.1 to 50.9 (vs 52 consensus) with both manufacturing (49.9 from 51.9) and services (50.9 from 51.7) contributing. Details showed inflows for new business falling for the first time in six months and firms’ future output expectation slipping […]
19/03/2024

Brent Oil Prices Continue to Surge, Reaching New Peaks

Brent crude oil continues its rally, reaching peak values since early November 2023, with prices around USD 87.00 per barrel. Investor concerns over commodity supply, particularly due to tensions in several oil-producing countries, significantly influence quotes by incorporating potential supply disruptions. Iraq has announced a reduction in crude oil exports to 3.300 million barrels per […]
19/08/2024

Gold Price Surpasses $2500 for the First Time

We noted bullish sentiment in the gold market six days ago: → The price is moving within an ascending channel (shown in blue); → Bulls may attempt to set a historic record amid the release of economic news. As today’s XAU/USD chart shows, the gold price has risen above the psychological level of $2500. This […]