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Gold price bounced on Tuesday after a double failure on important $3000 support signaled that shallow correction from new record high might be over. Persisting uncertainty over the magnitude of negative impact from looming US reciprocal tariffs on global economy and fragile geopolitical situation, keep strong safe haven demand. Investors are also concerned by signals […]

The post Gold: Bulls Regain Traction After a Double Rejection at Key $3000 Support appeared first on Action Forex.

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31/05/2024

Bank of Canada Set to Make the First Interest Rate Cut Next Week

All ducks appear to be in a row for the Bank of Canada to kick-start the policy easing cycle and lower the overnight rate by 25 basis points to 4.75% on Wednesday. The move follows cuts from the Swiss National Bank and the Riksbank (central bank of Sweden) in recent weeks and comes after the […]
14/05/2024

EURJPY’s Relentless Rise Continues

EURJPY in the green for the seventh consecutive trading day Bulls aim for April’s multi-year highs, but they might run out of steam soon For the past week, EURJPY has been experiencing a non-stop upward movement, currently targeting April’s bar of 169.27, which proved tough to claim despite the flash spike to a 40-year high of […]
29/04/2024

Japanese Yen Shows Volatility Amid Speculation of Intervention

The USD/JPY pair is hovering around 155.00 on Monday, having earlier touched a new 34-year peak at 160.00. Market rumours suggest that the Japanese authorities might have intervened in the currency market, although there has been no official confirmation. Today’s market movement is particularly notable due to a public holiday in Japan, which has resulted […]