Logo-color Logo-white

Gold (XAU/USD) has traded in a tight range of 2% in the past two weeks after it printed a fresh all-time high of US$2,195 on 8 March. The biggest risk event for today will be the latest Fed FOMC’s dot plot projection on the trajectory of its Fed funds rate; a reduction to two cuts […]

The post Gold Technical: A Potential Minor Corrective Pull-back in Play as FOMC Looms appeared first on Action Forex.

previous

EUR/USD Dips Again, USD/JPY Rallies Above 151

next

Will JP 225 Index Continue Its Record Rally?

Read More

02/01/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently shows an overall bearish momentum. However, there is a potential for price to make a bullish rise towards the 1st resistance. The 1st resistance level at 101.46 is identified as an overlap resistance that aligns with the 23.60% Fibonacci retracement level. Higher up, the 2nd resistance level […]
20/12/2023

Euro Lower on German PPI Decline

German PPI eases to 7.9% German GfK Consumer Confidence index improves slightly The euro has dropped in Wednesday’s trade. In the European session, EUR/USD is trading at 1.0939, down 0.38%. German PPI declines by 7.9% Germany’s producer price index fell by 7.9% y/y in November, another sharp decline after the October reading of -11%. This […]
06/12/2023

Slowing Economy Keeps Bank of Canada On Hold in December  

The Bank of Canada maintained the overnight rate at 5.0%, while stating that it will continue with Quantitative Tightening (QT). The Bank highlighted the slowing in economic momentum stating, “economic growth stalled through the middle quarters of 2023 (and that) higher interest rates are clearly restraining spending”. The Bank also noted that the labour market […]