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Gold price rose further on Thursday and pressure all-time high $2956 (Feb 24) after fresh post-US CPI acceleration took out last significant barriers at $2926/30. Growing fears of economic slowdown on escalating trade war that contributes to scenario of more Fed rate cuts, along with lower than expected US inflation in February, further boosted demand […]

The post Gold: Price Nears New Record High as Growing Uncertainty Continues to Fuel Safe Haven Demand appeared first on Action Forex.

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05/06/2024

AUD Shrugs as Australian GDP Misses Estimate

After starting the week with sharp swings, the Australian dollar is showing little movement on Wednesday. AUD/USD is trading at 0.6644 in the European session, down 0.06% on the day. Australian GDP posts 0.1% growth Australia’s GDP was a disappointment, with a gain of just 0.1% q/q in the first quarter. This was lower than […]
28/01/2025

China’s DeepSeek R1 AI Model Sparked Risk-off Across the Board

Markets China’s DeepSeek R1 AI model sparked risk-off across the board. It was yesterday’s main trading theme in absence of other major news. Trained at a significantly lower cost and with inferior chip technology, R1 raised questions to the lofty valuations of US big tech. AI poster child Nvidia sank 17%, wiping out some $560bn […]
11/09/2024

USDJPY Plummets to New 9-month Low

USDJPY confirms the bearish structure Next support at 140.20 Momentum oscillators keep moving negative USDJPY tumbled to a fresh nine-month low of 140.70 earlier today, boosting the bearish structure that started at the beginning of July. If the market ends the day below the 141.60 strong barrier, then the focus will shift to the 140.20 […]