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This week has been quiet in terms of global macro data and events. In this final Weekly Focus before the summer break, we will thus mainly highlight key data and events to watch until the Weekly Focus returns on Friday, 16 August. This week’s data releases included June inflation figures from France, Spain, and Italy, […]

The post Weekly Focus – A Summer Full of Data and Central Bank Meetings appeared first on Action Forex.

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04/04/2024

WTI Futures Surge to a 5-month High

WTI futures in a steady advance since early December Posted a fresh 5-month peak before paring some gains Oscillators point to overbought conditions WTI oil futures (May delivery) have been in a slow but constant recovery from their December bottom of 67.97, posting a fresh five-month peak of 86.20 on Wednesday. Meanwhile, the 50-day simple moving average (SMA) is positively closing the […]
03/04/2024

Silver Exits Long-Term Range

Silver’s future prospects turn brighter after reaching a two-year peak A retreat fueled by profit-taking is a risk in the short term Silver advanced to a two-year high of 26.54 on Wednesday, finally breaking the wide consolidation phase that started in May 2023. The spotlight is currently on the 2022 high of 26.93, however, Tuesday’s close above the […]
11/06/2024

Euro Under Pressure as Macron Calls Snap Election

The euro is down for a third straight day and has dropped 1.3% since Thursday. EUR/USD is trading at 1.0731 in the European session, down 0.32% on the day. There are no releases out of the US or the eurozone today. It was a busy weekend in Europe, as voters went to the ballot box […]