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Gold price remains in red for the third straight day and fell to the lowest since May 15 during early European session on Thursday, in extension of Wednesday’s 1.75% drop. Fed minutes, released late Wednesday, showed that the US central bank believes that inflation will cool further over the time, but left the door open […]

The post Gold: Hawkish Fed Minutes Further Weaken Near-Term Sentiment appeared first on Action Forex.

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12/03/2024

US CPI in the Limelight

In focus today The most important release of the day will be the US February CPI. We look for both headline and core CPI to come out at +0.3% m/m SA, slightly below consensus forecast. Markets will focus on non-housing services inflation, which surprised to the upside in January, cooling expectations of rapid rate cuts. […]
16/08/2024

XAUUSD: Formation of Bullish Pattern: Signs of Trend Continuation

Bearish Scenario: Sell positions below 2470 with TP1: 2463, TP2: 2460, TP3: 2456 intraday, with a stop loss above 2473 or at least 1% of the account capital. Bullish Scenario: Buy positions after a pullback above 2460 with TP1: 2470, TP2: 2480, and TP3: 2490 in extension. Stop loss below 2450 or at least 1% […]
18/07/2024

Australian Shrugs on Mixed Employment Data

The Australian dollar is showing limited movement on Thursday. AUD/USD is trading at 0.6736 in the European session, up 0.10% on the day, up 0.1% at the time of writing. Job growth shines but unemployment rises Australia’s employment report for June was a mix, leaving investors scratching the heads. The Australian dollar didn’t show much […]