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Gold remained steady on Wednesday and in consolidation mode after strong rally in past two days, which reversed around 76.4% of pullback from new record high ($2956) to $2832 (correction low). Weaker dollar across the board continues to fuel gold advance with revived safe-haven demand on strong uncertainty over the impact of trade war expected […]

The post XAU/USD: Weaker Dollar and Trade War Uncertainty to Continue to Support appeared first on Action Forex.

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18/01/2024

EURUSD Finds Support at the 200-day SMA

EURUSD had been rangebound before sliding lower But the retreat ceases at the 200-day SMA Momentum indicators remain tilted to the downside EURUSD had been trading sideways since the beginning of the year following its pullback from the December high of 1.1138. The pair spiked lower on Tuesday, but the congested region that includes the 200-day […]
05/03/2024

ISM Shows Services Sector Expansion Continued in February

The ISM Services index slipped to 52.6 in February from 53.4 in January, just shy of the 53.0 consensus expectation. However, growth did become more widespread, with 14 of 18 industries reporting growth for the month – up from ten in January. The business activity sub-index rose to 57.2, while the new orders index ticked […]
18/05/2024

The Weekly Bottom Line: Inflation Breaks Its Heat Streak

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