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Gold prices are holding steady near $2,650 in Asian trading on Monday, despite positive market sentiment from China’s new stimulus measures. Traders are hesitant to make any big moves before the speech from US Federal Reserve (Fed) Chairman Jerome Powell later today. Powell didn’t touch on the economy or monetary policy in his last speech, […]

The post How is Gold Prepping for NFP? appeared first on Action Forex.

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WTI Crude Oil Dips Once More: Is More Weakness Ahead?

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29/04/2024

USD/JPY 160 the Line in Sand for (Hhidden) Interventions?

Markets Japanese markets were closed for Showa day today. Still, despite (or maybe due to) holiday thinned market conditions, the yen moved sharply up and down this morning. At first, Friday’s post BoJ yen weakening due to persistent policy divergence between the BoJ and colleagues from other developed countries continued and even accelerated. USD/JPY briefly […]
27/08/2024

EUR/GBP Outlook: Steep Bear-Leg May Take A Breather Above Daily Cloud Base Support

EURGBP cracked Fibo support at 0.8439 (76.4% of 0.8382/0.8624 rally) and pressuring strong support at 0.8424 (base of thick daily cloud) in extension of five-day steep bear-leg off 0.8544 (Aug 21 lower top). Technical picture on daily chart remains firmly bearish (strong negative momentum / multiple MA’s bear crosses), but oversold conditions and long tails […]
12/09/2024

NZ Dollar Drifting Ahead of Manufacturing Data

The New Zealand dollar is showing little movement on Thursday. NZD/USD is trading at 0.6139 at the time of writing, up 0.05% on the day. New Zealand’s Manufacturing PMI expected to improve New Zealand’s manufacturing sector has been in the doldrums, as the manufacturing PMI has posted 17 consecutive declines. Friday’s PMI is expected to […]