Logo-color Logo-white

WTI oil price rose further on Wednesday, extending advance into fourth straight day, following strong acceleration on Tuesday, which resulted in a daily gain of 2.1% and close above important barriers at $79.83/$80.00 (200DMA / psychological). Bulls cracked next pivot at $80.52 (Fibo 38.2% of $87.61/$76.13), with close above this level to validate bullish signal […]

The post WTI Oil: OPEC+ Likely to Keep Its Production Cut and Further Support the Price appeared first on Action Forex.

previous

GBP/JPY at Highest Level in Over 15 Years

next

Will Core PCE Inflation Spur a Less Hawkish Fed?

Read More

17/06/2024

Australian Dollar Drifting Ahead of RBA Decision

The Australian dollar is steady on Monday. AUD/USD is trading at 0.6605 in the European session, down 0.14% on the day. Last week, the Australian dollar rose as much as 1.8% but pared most of these gains. RBA expected to hold rates The Reserve Bank of Australia will deliver its rate announcement early Tuesday and […]
08/03/2024

Focus Turns to the US and Nonfarm Payrolls

In focus today In the US, we get the February jobs report today. We see downside risks to the non-farm payrolls and expect employment growth of +180k and see average wages to have risen 0.2% m/m seasonally adjusted. Whilst February data points received thus far have been mixed, we expect labour market conditions to gradually […]
06/03/2024

Gold Near All-Time High; What’s Next?

Gold’s impressive appreciation stabilizes near record high The bulls might take a break, but stay in play above 2,100 Gold bulls staged a comeback with a bang, driving the price vertically as high as 2,141 on Tuesday. This is marginally below December’s record high of 2,144 and could induce some consolidation ahead of Powell’s testimony […]