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Gold turns up again after brutal downfall Short-term risk is positive, but caution required near 2,430-2,438 US S&P Global PMIs could generate fresh volatility at 13:45 GMT Gold found fresh buying interest after its aggressive pullback from a record high of 2,483 paused at 2,383. The precious metal is currently looking to gain more ground following its close […]

The post Gold Seeks New Buyers to Trim Rapid Downfall appeared first on Action Forex.

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30/07/2024

Uncertainty Looms Ahead of Mag7 Earnings, Rate Decisions

The week kicked off on a mixed note. Equities in Europe fell, the major US indices were near flat, slightly positive for the S&P500 and Nasdaq, and slightly negative for the Dow Jones, as technology stocks extended a rebound into a second day while oil stocks retreated on a further selloff in crude oil. US […]
02/08/2024

RBA Meets as Rate Hike Odds Fade, Aussie Sinks after CPI Data

RBA set to keep rates on hold despite elevated inflation But latest CPI report raises hope that price pressures are easing A dovish pivot on Tuesday (07:30 GMT) could further devastate the aussie Lack of progress The Reserve Bank of Australia has barely made any progress on getting inflation down in 2024, with the monthly […]
05/01/2024

USD/JPY Technical: Countertrend USD Rebound Remains Intact Ahead of US NFP

The US dollar is the top performer against the JPY on a 5-day rolling basis (+3%). A monthly US NFP jobs gain of between +240K to +260K may ignite another bout of US dollar rally. Bullish momentum is supporting a potential extension of the ongoing countertrend rebound in USD/JPY. Watch the next intermediate resistance at […]