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Gold surged through round-figure barrier at $3100 and hit new record high on Monday, with growing economic and geopolitical uncertainty continuing to strongly boost safe haven demand. US import tariffs which are due to start on Apr 2 and anticipated damage on global economy from escalation of trade war, as well as fragile geopolitical situation […]

The post XAU/USD: Gold Hits New All-Time High Above $3,100 appeared first on Action Forex.

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26/03/2024

Japanese Yen Awaits Intervention Amid Weakness

The USD/JPY pair stabilised around 151.35 by Tuesday, not far from its recent peaks, as the weakness of the Japanese yen has prompted verbal interventions from Japanese authorities. Japan’s Finance Minister, Shunichi Suzuki, mentioned that measures to normalise the yen are quite likely. He cited excessive volatility as increasing uncertainty for the country’s trading partners […]
08/11/2024

Fed Continues To Dial Back Policy Restraint via 25 bps Rate Cut

Summary As widely expected, the FOMC cut rates by 25 bps at today’s policy meeting. The decision was unanimous. The Committee noted that progress has been made in returning inflation to its target of 2% and that the risks of achieving its goals of price stability and full employment are roughly balanced. Despite 75 bps […]
05/07/2024

EUR/USD Advances, DXY Eyes Trendline Break – Jobs Data Up Next

EUR/USD rises above 1.0800 due to weak US economic data and a weaker USD. Market anticipates a 71.6% chance of a rate cut in September. DXY is at a psychological support level ahead of US jobs data release. EUR/USD continued its upward momentum on US Independence Day, capitalizing on a weaker USD and low market […]