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The price of gold fell on Monday to $3,346 per troy ounce, pausing its recent upward trend as investors assessed the implications of a phone call between the US and the EU. Key factors driving gold’s movement Demand for safe-haven assets weakened after US President Donald Trump announced plans to delay proposed 50% tariffs on […]

The post Gold Halts Rally as US Signals Willingness to Discuss Trade Terms with EU appeared first on Action Forex.

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23/07/2024

GBP/USD Sees Pullback But Key Support Intact

Key Highlights GBP/USD started a downside correction from the 1.3050 zone. It traded below a connecting bullish trend line with support at 1.2970 on the 4-hour chart. Gold prices corrected gains and traded below $2,425. Oil prices extended losses and declined below the $80.00 level. GBP/USD Technical Analysis The British Pound remained in a positive […]
02/02/2024

JPY Carry Trades Downside Pressure Reinforced Ex-post FOMC

The US Federal Reserve pushed back the first Fed funds rate cut and Fed Chair Powell indicated that the “highly anticipated” March rate cut is not the base case for now. The dovish Fed Pivot narrative is still alive as both the 2-year and 10-year Treasury yields continued to inch lower and closed near their […]
25/07/2024

EUR/JPY Outlook: Falls to New Multi-Week Low After Break of Key Support

EURJPY extends steep fall into fifth straight day and hit 11-week low in early Thursday (down 1% in Asian session). Recent interventions by Japan’s authorities boosted yen across the board and fresh strength gained strong momentum, suggesting that the currency could rise further. Wednesday’s close below pivotal support at 166.91 (daily cloud base / Fibo […]