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Market Picture Gold lost over 3% in value on the day the presidential election results were tallied. Cumulatively, from the peak in late October to the recent low, the losses exceed 5%. So far, it does not look like a tragedy. On Thursday, the price added 2.5% from the lows to the high intraday, recovering […]

The post Prospects for Gold Correction appeared first on Action Forex.

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Markets Weekly Outlook – Attention Shifts Back to Data, US CPI in Focus

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15/03/2024

Fed preview – Taking Stock on QT and Data

We do not expect the Fed to make monetary policy changes in its March meeting, as broadly anticipated by both markets and consensus. Besides the obvious focus on rate cut timing cues, we will keep an eye on the updated rate and economic projections as well as more detailed discussion on QT. We think the […]
02/01/2024

Australian Dollar Edges Higher After Chinese Data

China Caixin Manufacturing posts slight growth The Australian dollar is in positive territory on Tuesday. In the European session, AUD/USD is trading at 0.6826, up 0.22%. The week between Christmas and New Year’s was subdued in the currency markets. Still, the Australian dollar hit a six-month high on Christmas Day, rising to 0.6871. The Aussie […]
13/04/2024

Canadian Inflation to Tick Higher as BoC Considers Rate Cuts

The Bank of Canada will be focused on the March Canadian consumer price index report next Tuesday after another upward surprise in U.S. price growth created doubt about the U.S. Federal Reserve’s rate-cutting plans this year. Slower price growth in Canada in recent months and a sharply underperforming Canadian economy have “increased confidence” among BoC […]