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Summary United States: The Machine of a Dream Nonfarm payrolls increased 199K in November, and the unemployment rate fell 0.2 percentage points to 3.7%. The decline in the already historically low unemployment rate suggests that while the labor market is cooling, it remains exceptionally tight. Next week: Consumer Price Index (Tue.), Retail Sales (Thu.), Industrial […]

The post Weekly Economic & Financial Commentary: Global Central Banks Holding Steady appeared first on Action Forex.

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26/06/2024

Gold: Third Time Lucky for the Bears?

Gold has been under moderate pressure since last Friday, when the price reversed sharply from above $2360. This is an important signal from the bears that they retain control of the market, forming a trend of lower local highs. On Wednesday morning, the price temporarily dipped below $2310, returning to the support area of the […]
13/12/2023

Crude Oil Price Resumes Slide, Fed Rate Decision Up Next

Key Highlights Crude oil prices declined heavily below the $73.50 support. A connecting bearish trend line is forming with resistance near $71.45 on the 4-hour chart. Gold prices also declined and traded below the $2,000 support. The Fed interest rate decision is scheduled today (forecast 5.5%, versus 5.5% previous). Crude Oil Price Technical Analysis In […]
07/06/2024

USDCHF Posts More Than 2-month Low

USDCHF finds strong obstacle at 200-day SMA MACD endorses negative momentum; RSI near oversold region USDCHF plunged to a new more than two-month low of 0.8879 today but has found support at the 200-day simple moving average (SMA) in the 0.8895 area.   The pair is currently in a bearish retracement with the 20- and the 50-day SMAs […]