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Markets were in a waiting mode ahead of the March monetary policy meetings, and the latest round of inflation data did not materially rock the boat. Bond and equity markets remained stable while past weeks’ positive sentiment in FX markets took a breather. Euro Area flash HICP for February came out above expectations at 2.6% […]

The post Weekly Focus – Focus Turns to the ECB appeared first on Action Forex.

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11/06/2024

Brent Crude Oil Stabilises Around 81.50 USD Amid Demand Optimism

Brent crude oil is holding steady at 81.50 USD per barrel on Tuesday, following a significant surge of over 2.5% the previous day. The price increase was driven by optimistic market expectations about fuel demand this coming summer and news that the US government is seizing the opportunity to replenish its strategic oil reserves at […]
11/12/2023

XAU/USD: Gold Stands at the Back Foot Ahead of Key Events

Gold remains in red for the second consecutive day and fell below $2000 early Monday, pressured by firmer dollar on solid US labor data. Friday’s 1.2% drop generated fresh bearish signal on close below $2015 pivot (Fibo 38.2% of $1810/$2141), with extension lower adding to the strength of bearish continuation signal. Near-term technical picture is […]
05/09/2024

WTI Crude Oil Wave Analysis

WTI crude oil broke key support level 71.40 Likely to fall to support level 68.00 WTI crude oil recently broke sharply below the key support level 71.40 (which has been repeatedly reversing the price from the start of February). The breakout of the support level 71.40 accelerated the active impulse wave c of the medium-term […]