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U.K. Economic Growth Stagnated in July 2024
The latest U.K. economic activity update reveals a stagnant picture for July 2024, with flat GDP growth and mixed performance across sectors, likely leaving the Bank of England (BoE) in a delicate position as it considers future monetary policy decisions. Key Points: U.K. GDP showed no growth (0.0%) in July 2024, following flat growth in…
Gold price drops on firm US yields, strong USD after solid US data
Gold reverses gains after hitting daily high of $2,368, down more than 1.70%. Strong US S&P Global PMI data boosts the US Dollar, with the DXY rising 0.14% to 105.80. Mixed US economic data keeps Fed rate cut speculation alive. Gold prices reversed course on Friday, moving down more than 1.70%. Economic data from the…
Deriv’s Innovative Tactical Indices Offer a New Dimension to Online Trading
Deriv, a leading online broker with 25 years of experience in the financial industry, recently launched its groundbreaking Tactical Indices, a game-changing new asset class that empowers traders to access sophisticated trading strategies without the hassle of manual rebalancing. This launch further solidifies Deriv’s position as an industry innovator, consistently delivering cutting-edge solutions to meet…
FX Watch: AUD/CAD Trend to Resume Soon?
Will the trend still be our friend on AUD/CAD once the Australian CPI report is released? The pair is closing in on its descending channel resistance on the hourly time frame. Check out these near-term inflection points I’m watching! This Article Is For Premium Members Only Become a Premium member for full website…
Gold Price Outlook: Bears Take Early Control as US Dollar Index (DXY) Rises – Action Forex
Gold surrendered Friday’s gains as a retest of $2300 gains momentum. US dollar index (DXY) rises but faces stern resistance at 105.63. Geopolitics remains on the back burner for now, but risks remain. Fundamental Overview and Week Ahead Gold prices began the week on the backfoot, with a slight gap to the downside at the…
EUR/USD: Bulls stop advancing – OCBC
Euro (EUR) fell on headlines regarding universal tariffs. FT reported that Treasury secretary Scott Bessent favours universal tariffs on US imports, starting at 2.5% while Trump said he wants tariffs ‘much bigger’ than 2.5%. This puts tariff agenda back on the table and should restraint EUR bulls for now. Pair was last at 1.0428 levels,…
