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Gold prices surged past $2700/oz fueled by expectations of global rate cuts and escalating geopolitical tensions in the Middle East. The London Bullion Market Association’s bullish prediction of $2941/oz gold price in 12 months. Technically, gold is overbought, but the threat of an Israeli strike on Iran could limit downside risks. Gold prices advanced further […]

The post Gold (XAU/USD) Price Smashes Through $2700/oz – Further Gains Ahead? appeared first on Action Forex.

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13/09/2024

Industrial Production and Inflation Expectations in the Spotlight

In focus today In the US, the University of Michigan’s preliminary consumer sentiment survey for September is due. With underlying inflation moderating and short-term market-based inflation expectations declining with global oil prices it will be interesting to see if the reading reflects these trends. In August, 1y and 5y inflation expectations stood at 2.8% and […]
16/07/2024

Trump Trade, China Trade, Reflation Trade, AI Trade

There are a few stories developing at the same time: The Trump trade consists of going long Bitcoin and equities (especially gunmakers, oil producers) and short the long term treasuries on expectation of exploding US debt with tax cuts, higher spending and growth supportive Trump policies. The yield on 30-year Treasuries yesterday surpassed the rate […]
11/01/2024

Technical Outlook and Review

DXY: The DXY chart currently exhibits a bearish overall momentum, indicating a weakened US Dollar. In this scenario, there’s potential for a bearish continuation towards the 1st support level. The 1st support at 101.77 is significant for several reasons. It is categorized as an overlap support and coincides with the 50% Fibonacci Retracement level, making […]