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WTI Oil price rose further in early Thursday’s trading, in extension of 3.5% rally on Wednesday, the biggest daily gain since Nov 17. Worsening fundamentals on closure of one of the largest oil fields in Libya and increased tensions around Israel-Palestine war, inflated oil price. Stronger than expected fall in US crude inventories (API report, […]

The post WTI Oil: Crude Oil Price Rises Further on Growing Supply Concerns appeared first on Action Forex.

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USD/CAD Price Analysis: Declines Toward 1.3300 ahead of US/Canada Employment Data

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18/06/2024

GBP/USD Dips as Bulls Take a Breather, Key Levels To Watch

Key Highlights GBP/USD started a downside correction from the 1.2860 resistance. It traded below a key bullish trend line with support at 1.2720 on the 4-hour chart. EUR/USD is eyeing a recovery wave from the 1.0665 support zone. Oil prices are moving higher toward the $80.80 resistance. GBP/USD Technical Analysis The British Pound peaked near […]
05/01/2024

USD/CAD Price Analysis: Refreshes Two-Week High Ahead of US/Canada Employment Data

USD/CAD has climbed to near 1.3380 as investors turn anxious ahead of US labor market data. The Unemployment Rate in the US and Canada in December is seen at 3.8% and 5.9% respectively. A decisive break above 23.6% Fibo retracement has improved appeal for the Loonie asset. The USD/CAD pair prints a fresh two-week high […]
19/03/2024

Aussie Slides After RBA’s Pause

The Australian dollar is sharply lower on Tuesday. In the European session, AUD/USD is trading at 0.6507, down 0.80%. The Aussie is on a nasty slide and has declined by 1.7% since March 13. RBA removes tightening bias The Reserve Bank of Australia maintained the cash rate at 4.35% for a fourth straight time at […]