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Brent crude prices are rising due to lower-than-expected U.S. oil and fuel supplies and revised EIA forecasts for smaller oil surpluses in 2025 and 2026. Libya has restarted oil production at the Mabruk field, aiming to increase output significantly, while Kuwait also plans to boost its production. OPEC expects strong global oil demand growth in […]

The post Brent Crude Update – Oil Prices Rally as EIA Reduces Oil Surplus Estimates appeared first on Action Forex.

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15/07/2024

Dollar Losing Interest Rate Support at Stealth Pace

Markets The US dollar is losing interest rate support at stealth pace. Since the awful June service ISM (July 3), the US 2-yr yield fell from 4.75% to 4.45% currently. The US 10-yr yield slid from 4.45% to 4.2%, testing the downside of the downward trend channel. Decent payrolls failed to save the day while […]
15/04/2024

US Dollar Exhibits Remarkable Strength Amid Global Tensions

The EUR/USD pair has experienced a notable decline, currently stabilising around 1.0648. Last week, the pair recorded its most significant weekly gain since 2022, fuelled by the anticipation of persistently high interest rates in the US and escalated conflicts in the Middle East. The US dollar appreciated by 1.6% over the week against a basket […]
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 […]