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UK set to report further softening in employment conditions Data accuracy issues persist, but wage growth could still move the pound GBPUSD needs to gain buying confidence above 1.2700 BoE leans towards a rate cut The Bank of England (BoE) left interest rates steady at a 16-year high of 5.25% last Thursday as widely expected, and although […]

The post Will UK Jobs Data Give Any Meaningful Signal? appeared first on Action Forex.

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Gold Price Could Resume Upside, This Support Is The Key

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15/11/2024

Cliff Notes: Burgeoning Confidence

Key insights from the week that was. In Australia, the latest Westpac-MI Consumer Sentiment Survey provided another encouraging update on the health of the consumer. An impressive 11.8% rebound over the past two months has left the headline index at 94.6, the strongest reading in over two-and-a-half years and well within striking distance of a […]
19/04/2024

Escalation Between Iran and Israel: How the Price of Brent Oil Reacts

On the night of Thursday into Friday, reports emerged that Israel had attacked Iran following Iran’s attack on Israel over the weekend. Let’s remember that we wrote on Monday that after a 300 drone and missile attack on Israel over the weekend, the price of Brent oil did not rise. Perhaps this happened because Iran’s […]
17/06/2024

Gold Price Outlook: Bears Take Early Control as US Dollar Index (DXY) Rises

Gold surrendered Friday’s gains as a retest of $2300 gains momentum. US dollar index (DXY) rises but faces stern resistance at 105.63. Geopolitics remains on the back burner for now, but risks remain. Fundamental Overview and Week Ahead Gold prices began the week on the backfoot, with a slight gap to the downside at the […]