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Unimpressive was to investors what Apple revealed about its AI plans at its Worldwide Developer conference yesterday. The company gave details regarding its partnership with Sam Altman’s OpenAI, they said that they will integrate ChatGPT into iPhones via Siri, they promised that many workloads will be done on-device (without need to share user data), and […]

The post Widening Spreads, Falling Euro – The Fed Won’t Help Lift Sentiment appeared first on Action Forex.

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01/07/2024

French Election: Public Spending Not Set to Rise Significantly

Initial projections, alongside statements from Macron and Melenchon on Sunday, indicate that the most probable outcome is that no party will achieve an absolute majority, resulting in a ‘hung parliament’. Hence, public spending in France is not set to rise significantly (see scenario 1, page 2). Projections indicate that National Rally (RN) won the first […]
29/11/2023

EUR/USD: Bulls Taking Breather After Cracking Psychological 1.1000 Barrier

EURUSD is consolidating under new multi-week high on Wednesday, after bulls cleared pivotal Fibo resistance at 1.0959 (61.8% of 1.1275/1.0448 downtrend) and cracked psychological 1.10 barrier. The Euro received fresh support from expectations that the Fed is done with rate hikes and rising bets for start of cutting interest rates in the first half of […]
14/12/2023

XAU/USD: Gold Price Establishes Above $2000, Lifted by Weaker Dollar

Gold extended recovery on Thursday, following 2.4% rally on Wednesday (the biggest one-day gains since Oct 13), sparked by dovish Fed. Strong bounce is forming reversal pattern on daily chart and generates initial signal of an end of corrective phase from new all-time high ($2141). Fresh bulls returned above $2000 and dented pivotal barrier at […]