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Gold prices rose on Monday as the US Dollar weakened amidst speculation about potential Federal Reserve rate cuts starting in June. This weakened Dollar was partly due to improved risk sentiment pushing US Treasury yields lower. Despite facing challenges from declining yields, gold prices recovered to nearly $2,170 per troy ounce, driven by the Dollar’s […]

The post XAUUSD: Markets Slow Down Ahead of NFP appeared first on Action Forex.

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14/05/2024

Everybody is Fed-Dependent

The major indices in Europe and the US across traded rangebound near their ATH levels and the US dollar index fluctuated a touch above the 105 level ahead of the US and European inflation updates that will start flowing in today. The major story of Monday was a renewed rally in Gamestop and AMC shares […]
28/06/2024

Cliff Notes: The Slow Grind

Key insights from the week that was. In Australia, the release of the week was certainly the Monthly CPI Indicator for May which reported a lift in headline inflation from 3.6%yr in April to 4.0%yr – as Westpac forecast – and a lift in the annual trimmed mean from 4.1%yr to 4.4%yr. Being the mid-month […]
12/01/2024

USDCAD Bears Show Up Near Key Resistance

USDCAD pauses rebound near key resistance trendline Market sentiment remains fragile below 1.3440 USDCAD could not climb into the 1.3400 zone despite the slight positive surprise in the US CPI inflation numbers on Thursday, staying below the ascending trendline drawn from November 22. The pair also seems to be trapped between the upper 2021 ascending […]