Gold’s selloff is accelerating as a powerful macro combination weighs on the metal. Instead of acting as a safe haven, gold is being squeezed by rising oil prices and higher bond yields. A retest of the March low is now in sight, with 4,000 emerging as the next key level. How quickly it gets there […]
The post Gold Hit by Double Whammy, Heading Back Toward 4,000 appeared first on ActionForex.
Key Highlights GBP/USD corrected gains and tested the 1.3450 support. A declining channel is forming with resistance at 1.3560 on the 4-hour chart. Gold prices are moving lower below the $4,650 support. The US GDP Read more…
Japan’s industrial production declined -0.5% mom in March, falling short of expectations for a 1.1% increase. The drop was broad-based, with output declining in 8 of 15 sectors. The downturn was led by petroleum-related products, Read more…
New Zealand business confidence deteriorated sharply in April, with ANZ’s headline index plunging from 32.5 to -10.6, highlighting a rapid shift in sentiment amid rising cost pressures. Firms’ own activity outlook also fell significantly from Read more…