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US jobs report (NFP) is highly anticipated, with market expectations for a 200k payroll figure. The unemployment rate is also a key focus, with a potential slight uptick to 4.2%. A print in line with expectations could lead to short-lived US Dollar reactions. Gold prices are currently range-bound between $2600-$2660, with the 2655-2660 zone being […]

The post US Jobs Report Preview: Implications for DXY and Gold (XAU/USD) appeared first on Action Forex.

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11/12/2023

Gold Feels the Blues After Record Rally

Gold starts a new bearish wave after record high A consolidation phase is likely; support at 1,970-1,990 Despite its rocket rally to a new record high of 2,144 last Monday, gold could not successfully remain above the pandemic-era 2,070 bar, which caused a negative trend reversal in 2022 and 2023. The precious metal has been […]
01/12/2023

USD/CAD Eyes Canadian Job Data, US PMI

Canada’s job growth expected to expand by 15,000 US ISM Manufacturing PMI projected to accelerate to 47.6 The Canadian dollar continues to gain ground against a slumping US dollar. In the European session, USD/CAD is trading at 1.3529, down 0.23%. The Canadian currency is poised to post a third straight winning week against the greenback […]
21/12/2023

CHFJPY Pulls Back From Record Highs

CHFJPY has lost some ground over the last month Yet, overall picture remains overwhelmingly positive Decisive break below 160 level needed to change that CHFJPY suffered a minor retreat in recent weeks, after hitting a record high back in November. That said, the structure of higher highs and higher lows remains in force, which suggests […]