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Gold stands at the front foot at the start of the week and holds near two-week high ($2041) posted on Friday. Growing tensions in the Middle East and overall negative geopolitical picture, continue to fuel safe haven demand and boost metal’s price, along with neutral / negative near-term outlook for the US dollar. Technical picture […]

The post XAU/USD: Geopolitical Tensions Continue to Support Gold Price appeared first on Action Forex.

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26/03/2024

FTSE 100 to Benefit from Improved Commodity Appetite

The week kicked off with a pause in the equity rally on both sides of the Atlantic Ocean. Nikkei index is mostly flat on Tuesday and the yen consolidates above 151 following yesterday’s threat from a Japanese official about a potential intervention to stop excessive bleeding in the yen. The Japanese will likely intervene if […]
01/12/2023

Swiss Franc Hits 4-month High, GDP Beats Forecast

Swiss franc climbs to 4-month high Swiss GDP rises 0.3% US ISM Manufacturing PMI expected to rise slightly The Swiss franc is lower on Friday. In the European session, USD/CHF is trading at 0.8723, down 0.22%. Swiss franc continues to climb The Swiss franc continues to power higher against a slumping US dollar. USD/CHF has […]
18/09/2024

GBP/USD Bounces Back: Fed Rate Decision Looms Large Over Next Move

Key Highlights GBP/USD started another increase from the 1.3000 support. It cleared a key bearish trend line with resistance at 1.3180 on the 4-hour chart. The UK CPI could rise by 2.2% in August 2024 (YoY). Today, the Fed could reduce interest rates from 5.50% to 5.25%. GBP/USD Technical Analysis The British Pound found support […]