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As seen on the XBR/USD chart, Brent crude oil prices are hovering near last week’s highs this morning as market participants assess various influencing factors, including: → New U.S. sanctions on Iran, which are limiting its export capacity and tightening global supply, particularly to China. → Ongoing negotiations between the U.S., Ukraine, and Russia in […]

The post XBR/USD Analysis: Price Near Resistance Zone appeared first on Action Forex.

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05/09/2024

Strange Familiarity

US equities remained under pressure yesterday after the JOLTS report revealed that the US job openings unexpectedly fell further in July to the lowest level since 2021. The factory orders on the other hand jumped 5%, more than expected, during the same month – a welcome addition to the jolts figure that could partly tame […]
26/04/2024

Week Ahead – Hawkish Risk as Fed and NFP on Tap, Eurozone Data Eyed Too

Fed meets on Wednesday as US inflation stays elevated Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the euro Chinese PMIs and New Zealand employment to be watched too Will the Fed put rate cut hopes in more peril? The upcoming week […]
06/06/2024

ECB Rate Cut in Sight Today

In focus today Today, focus is on the monetary policy meeting in the ECB. The ECB is widely expected to deliver a 25bp rate cut, largely because the Governing Council members have stated as much. The updated June staff projections are expected to suggest that the prevailing economic and monetary policy narrative stays broadly unchanged, […]