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Silver price hit new highest since November 2012 on Monday, in extension of last Friday’s record daily rally of 6.4%, with psychological $34.00 barrier being cracked. Increased safe haven demand dragged silver price, as geopolitical situation is overheated and markets pricing around 90% chance of Fed rate cut in November FOMC policy meeting. Strong bullish […]

The post Silver Rises to 12-Year High appeared first on Action Forex.

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05/07/2024

USD/JPY Recedes From Peaks: Analyzing The Pullback

Key Highlights USD/JPY climbed to a new multi-year high at 161.95 before it corrected lower. It traded below a key bullish trend line with support at 161.50 on the 4-hour chart. EUR/USD extended gains above the 1.0785 resistance zone. Oil prices might soon attempt to clear the $85.00 resistance. USD/JPY Technical Analysis The US Dollar […]
29/05/2024

Sunset Market Commentary

Markets German bunds underperformed US Treasuries today. We should speak in the conditional tense though because there’s still the $44 bn 7-yr auction scheduled after the European close. A mediocre 2-yr and 5-yr sale yesterday triggered additional losses for Treasuries and was the reason for European/German yields to catch up straight at the open. German […]
15/10/2024

Fall in Unemployment Supports Pound, But Concerns Grow

The UK unemployment rate fell to 4.0% in August, the lowest since January, and went down from a peak of 4.4% in April and May. The data beat expectations and supported Sterling buying from intraday lows below 1.3040. Employment figures have been gaining momentum in recent months, with 373K more jobs created in July and […]