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WTI oil price remains in red for the third consecutive day and accelerated lower on Tuesday, losing about 2% of its value during Asian / early European trading. Oil price was initially deflated by optimism about potential US-China trade deal that stalled earlier strong rally sparked by US sanctions on two biggest Russian oil producers. […]

The post WTI Oil Drops 2% on Signals of Further OPEC+ Production Increase appeared first on Action Forex.

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RBA to Hold in November, Inflation Too Hot to Handle

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19/12/2023

BoJ on Hold

In focus today Today, euro area final HICP data for November will be released. With all the details out, it will be interesting to see what drove the downtick in inflation in November. In the US, we will get housing starts and building permits for November. On the central bank front, we have a few […]
16/07/2024

USD/JPY: May fall Further If US Retail Sales Miss in June

USDJPY remains in extended consolidation of last week’s sharp fall, sparked by US inflation data and intervention by Japanese authorities. Near-term action is holding above 55DMA (157.55) which repeatedly contained dips and marks solid support for now. Traders also take a breather, awaiting fresh signals from US retail sales, due today, which may further deflate […]
14/03/2024

Copper Rises Rapidly to 11-Month High

Copper wins nearly 3.0% on production cuts Overbought signals detected around key resistance Copper futures (May delivery) surged to an almost one-year high of 4.04 on Wednesday after China’s biggest producers agreed on a rare supply cut amid raw material shortages. Technically, the 61.8% Fibonacci retracement of the 2023 downtrend is currently under examination. A step […]