News

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do

HANOI: Copper prices advanced on Wednesday as testimony from the U.S. Federal Reserve’s chair Jerome Powell eased worries of a rate hike soon, which traders feared could dampen liquidity into financial assets including metals and hit economic recovery. Three-month copper on the London Metal Exchange rose 0.6% to $9,360 a tonne by 0516 GMT, while

Yen dropped notably overnight and stays pressured in Asian session with markets back in risk-on mode. NASDAQ closed at new record high while DOW and S&P 500 also gained. Major Asian indexes follow with solid gains in Hong Kong. Dollar also extended this week’s retreat but losses are so far limited. Meanwhile, commodity currencies are

A look at the AUD/USD daily chart Perhaps the scariest chart coming into this week was AUD/USD. On Friday it broke through the lows of the year and the 200-day moving average in what looked like it could be a major breakdown. Yet a few days later and the breakdown is still up for debate.

NEW DELHI: Crude oil prices on Tuesday fell Rs 16 to Rs 5,414 per barrel after the participants cut their positions. On the Multi Commodity Exchange, crude oil for the July delivery dropped by Rs 16, or 0.29 per cent, to Rs 5,414 per barrel with a business volume of 9,493 lots. Analysts said the

Trading in the forex markets is rather subdued today, as in other financial markets. Dollar continues to consolidate recent rise while European stocks and US futures are treading water. Focus turns to Fed Chair Jerome Powell’s testimony for fresh inspirations. . Sterling bulls hesitated in early part of European session, but quickly regained grounds. The

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do

NEW DELHI: Gold prices edged higher on Tuesday after the dollar took a breather, lifting demand for the safe-haven metal, ahead of US Federal Reserve Chairman Jerome Powell’s testimony to Congress later in the day. The yellow metal ticked up in domestic markets, following the global cues. The US economy continues to show “sustained improvement”

ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward. Contact us: contact@actionforex.com

Trade ideas from FBS The US central bank turned the market upside down. It signaled that higher inflation is a concern and that it’s considering tapering policy. The USD soared versus other major currencies, while gold headed for the biggest weekly loss in 15 months. Let’s see what new moves await us this week! Trade

LONDON: Oil prices were largely steady on Monday on rising demand in the northern hemisphere’s summer driving season, but traders braced for a return of Iranian crude supplies despite a pause in talks to end U.S. sanctions. Brent crude for August lost 24 cents, or 0.3%, to $73.27 a barrel by 1255 GMT. U.S. West

Dollar and Yen retreat as markets enter into US session. Stock markets are staging a mild rebound in Europe, while US futures also point to higher open. Treasury yields also recovered from earlier decline, with US 10-year yield back above 1.4 handle at the time of writing. New Zealand Dollar leads Australian and Sterling higher.

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do

By Ravindra Rao MCX Gold August futures witnessed a healthy correction during the week gone by and formed a bearish ‘Marubozu’ candlestick pattern, which signals towards a bearish reversal in price trend. The price is now trading below the 250-day EMA (Rs. 47360), which could be the key resistance for the August futures. Similarly, on

With a fresh hike in fuel prices by the Oil marketing companies (OMC) on Sunday, petrol price in the national capital surpassed Rs 97 per litre mark. Petrol is selling for Rs 97.22 per litre in Delhi on Sunday, up from Rs 96.93 on Saturday. Cost of diesel in the national capital was at Rs

Dollar is maintaining much of this week’s gains as focus now turns to FOMC statement and economic projections. There is prospect of further rally for the greenback should some policymakers pull ahead their rate hike expectations. But the overall reactions would more depend on interaction with other markets like stocks and yield. As for the

The Australian dollar was the laggard this week It was a big week in the FX market as the Fed flipped the script and turned hawkish. That caused an unwind in reflation trades and the commodity currencies were in the crosshairs. It speaks volumes that Australian added 115K jobs compared to 30K expected and it

NEW YORK: Oil futures rose on Friday, reversing early losses and set for a fourth week of gains after OPEC sources said the producer group expected limited U.S. oil output growth this year despite rising prices. Officials at the Organization of the Petroleum Exporting Countries got the U.S. production outlook from industry experts, OPEC sources