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Gold prices have dropped due to increased US Treasury yields, profit-taking, and the anticipation of a less dovish Fed outlook for 2025. The upcoming Fed meeting and its economic projections, especially regarding rate cuts, will significantly impact gold prices. India’s gold imports are expected to decline in December due to a lack of festivals and […]

The post Gold (XAU/USD) Traders Await Fed Meeting: Will Prices Rally or Fall? appeared first on Action Forex.

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Canadian Inflation Cools Slightly in November

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We May See Kneejerk Downleg in US (front-end) Yields and Dollar After Dot Plot Release

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23/10/2024

BoC Accelerates Pace of Rate Cuts

The Bottom Line: The BoC made the leap to cut the overnight rate by 50 bps today, amid accumulating evidence that the economy and labour markets are weakening by more than what is necessary to achieve the 2% inflation target. The reduction won’t be the last one. The level of the overnight rate is still […]
08/11/2024

USD/JPY Rebounds With New Traction: Can It Sustain Rise?

Key Highlights USD/JPY started a fresh increase above the 153.50 resistance zone. A connecting bullish trend line is forming with support at 152.20 on the 4-hour chart. EUR/USD is attempting a recovery wave from the 1.0700 zone. Bitcoin rallied to a new record high above $76,000 before it saw a consolidation phase. USD/JPY Technical Analysis […]
10/08/2024

Is the US Data that Bad to Justify a Rate Cut?

The recent acute market reaction occurred due to increased recession fears Surprise indices point to a more balanced US economic situation Recessions tend to be caused by one-off major events The recent market drop has been attributed to higher chances of a US recession It has been a very volatile period in markets. The recent […]