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Oil prices remain subdued due to recession fears and demand concerns. US stockpiles unexpectedly increased, adding to the bearish sentiment, EIA data out later today. Geopolitical tensions in the Middle East and China’s economic outlook are also contributing factors. Oil prices continued to struggle yesterday as increasing recession fears kept bullish investors at bay. The […]

The post Oil Prices Near Recent Lows: Demand Concerns Keep Bulls at Bay appeared first on Action Forex.

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29/11/2023

Australia October Monthly CPI Indicator

Government policies are holding down inflation but electricity prices are starting to rise as rebates come to an end. The Monthly CPI Indicator rose 4.9% in the year to October, down from 5.6%yr in September and the recent peak of 8.4%yr at December 2022. This was meaningfully less than Westpac’s forecast of 5.3%yr, and the […]
23/04/2024

Japanese Yen Isn’t Impressed This Morning by Yet Another Verbal Intervention Warning

Markets German and EU swap rates yesterday tested YTD highs in absence of strong market drivers. These technical resistance levels stood their ground with rebounding stock markets (Nasdaq +1.1%) offering some counterweight as well. Unlike yesterday, today’s agenda could be an inspiring one both in EMU and in the US. April PMI confidence indicators are […]
29/03/2024

GBP/USD: Cable Moves Within Extended Range Ahead of Key US Data

Cable remains in extended sideways mode, with a narrow range on holiday-thinned markets on Good Friday. Near-term action is ranging between 200DMA (1.2588) and thin daily cloud (spanned between 1.2634 and 1.2663), with predominantly bearish daily studies keeping the downside at risk, although the pair is still looking for stronger direction signal. Markets await release […]