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WTI futures drop to their lowest level since January 17 Momentum indicators are heavily tilted to bearish side  WTI oil futures (October delivery) have been in a steady retreat following their rejection at the 200-day simple moving average (SMA) in mid-August. On Wednesday, the price fell to a fresh seven-month low before finding its feet a tad above the […]

The post WTI Futures Fall to a 7-Month Low appeared first on Action Forex.

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08/12/2023

US: Job Growth Rebounds in November, Unemployment Rate Ticks Lower

Non-farm payroll employment rose by 199k in November, slightly ahead of expectations calling for a gain of 185k. Employment figures for September were revised lower by 35k, while October numbers were unchanged. Hiring over the last three-months averaged 204k jobs per-month, a slight uptick from the 192k averaged between August-October but well off the 334k […]
20/12/2023

Euro Lower on German PPI Decline

German PPI eases to 7.9% German GfK Consumer Confidence index improves slightly The euro has dropped in Wednesday’s trade. In the European session, EUR/USD is trading at 1.0939, down 0.38%. German PPI declines by 7.9% Germany’s producer price index fell by 7.9% y/y in November, another sharp decline after the October reading of -11%. This […]
16/05/2024

Gold Wave Analysis

Gold broke daily down channel Likely to reach resistance level 2415.00 Gold recently broke the resistance trendline of the narrow daily down channel from April, which enclosed the previous ABC correction (4). The breakout of this down channel accelerated the active intermediate impulse wave (5) – which belongs to the higher order impulse sequence from […]