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U.S. Highlights The ISM Services index, which was on the cusp of falling into contractionary territory in December, improved notably in January, rising 2.9 points to 53.4. The one blemish to the report was a sharp move up in the prices index. With little on the data front, a series of Fed speeches took center […]

The post The Weekly Bottom Line: Fed Officials Continue to Signal Patience on Rate Cuts appeared first on Action Forex.

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19/04/2024

XAU/USD: Gold Spikes Above $2,400 Again as Deteriorating Geopolitical Situation Boosts Demand

Gold probed above $2400 level for the second time, inflated by increased safe-haven demand following Israel’s attack on Iran early Friday. Although the spike above $2400 (the metal’s price reached $2417) was so far short-lived, near-term focus remains at the upside, as fears of further escalation in the region will continue to fuel demand. Technical […]
23/09/2024

Gold Reaches New Record as Investors Eye Further Rate Cuts

Gold prices soared to a new all-time high, with the troy ounce surpassing 2614 USD. This surge is primarily driven by expectations of additional interest rate cuts and ongoing geopolitical tensions, which enhance gold’s appeal as a safe-haven asset. Following the US Federal Reserve’s decision last week to reduce its interest rate by 50 basis […]

Risk On

Last week marked the end of my myopia and the beginning of the end of the Federal Reserve’s (Fed) tightening cycle. The Fed started lowering its rates by 50bp – a bold decision that raised many questions across investment communities regarding the necessity of a jumbo size cut while the US economy, though slowing, hasn’t […]