Logo-color Logo-white

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.

previous

USDJPY Adjusts Amid Mixed Signals from Japan’s Economic Data

next

The Weekly Bottom Line: Canadian Inflation Drops Below Target

Read More

01/07/2024

Euro, European Equities Rally, But French Election Tempest Far From Over

Yes, Mesdames et Messieurs, the first round of the French legislative election went totally according to the plan for Marine Le Pen’s Nationally Rally which secured one vote over three and became the first far-right party to top the legislative elections in France. The New Popular Front – the alliance of left and greens – […]
07/03/2024

USD/JPY Outlook: Japanese Yen Accelerates Dains vs Dollar on Growing Signals of BoJ Policy Shift

Bears accelerate on Thursday (USDJPY was down 1% in Asian / European session) extending steep fall into third straight day. Fresh weakness broke below initial Fibo support at 148.37 (23.6% of 140.25/150.88 rally, reinforced by daily Kijun-sen) generating initial reversal signal and warning of deeper drop. Bears cracked 100DMA (147.81) which produced some headwinds, with […]
01/11/2024

US: Payrolls Disappoint in October, But Unemployment Rate Holds Steady at 4.1% 

Non-farm employment rose a meager 12k in October, well below the consensus forecast calling for a gain of 100k. Job gains over the two prior months were revised lower by 112k. The Bureau of Labor Statistics noted that Hurricane’s Helene and Milton “likely” affected estimates in some industries, though did not provide any point estimates. […]