Market News - Gold, Oil & Forex

Key Highlights GBP/USD attempted a fresh increase and tested the 1.3460 resistance. A key contracting triangle is forming with resistance at 1.3450 on the 4-hour chart. The UK Core CPI could increase 2.7% in May 2026 (YoY). The Fed might keep interest rates unchanged from 3.75%. GBP/USD Technical Analysis The British Pound found support near […] The post GBP/USD Braces for Breakout as Fed and UK CPI Draw Near appeared first on ActionForex.

Gold (XAUUSD) has completed its cycle from the April 17 peak and is now positioned for a corrective rally in three waves. The decline from that peak ended at $4025, which marked the completion of wave ((W)). From this low, the market began a corrective phase in wave ((X)), unfolding as a zigzag structure. Within […] The post Elliott Wave Forecast: Gold (XAUUSD) Impulsive Structure Supports Bullish Continuation appeared first on ActionForex.

If you've been investing in the AI boom, you probably own most of the same names everyone else does. NVIDIA for the chips. Microsoft, Google and Amazon for the cloud. Maybe Meta for the consumer side. Maybe Palantir or one of the AI software names. Possibly TSMC for exposure to the manufacturing layer. And that playbook has worked well for investors. NVIDIA alone has minted more wealth in two years than most companies create in a century. The hyperscalers have all hit fresh highs. AI software...

The issue of energy dependence and its consequences has, in recent months, become a major topic of discussion. The Hormuz crisis has brought energy security to the political agenda with a vengeance amid fuel price caps, rationing, and warnings of severe shortages.  A lot of countries have been used as examples of either low dependence and therefore insulation against shocks, or high dependence that has resulted in a lot of economic pain. In the latter category, Taiwan stands out as a...

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 8.33 million barrels in the week ending June 12. Analysts had expected a 4.5 million draw. In the week prior, US crude oil inventories fell by a rather large 9.119 million barrels. Although inventories have been falling rapidly for the last 2+ months, shedding 52 million barrels over the last nine weeks, US crude inventories are only down 1.4 million barrels so far this year, according to...

The announcement from Egypt’s petroleum and mineral resources minister Karim Badawi that the country has paid all its outstanding debts to foreign oil firms is as welcome to international oil companies and their governments as it is to the country itself. Egypt has become one of the West’s prime targets in the hunt for replacement gas supplies after the loss of Russian flows following the 24 February 2022 invasion of Ukraine. Officially, it holds around 93 trillion cubic feet (Tcf) of proven...

The surge of AI and the data center boom have started to pose challenges to the global energy system amid soaring power demand, spiking energy bills, and a higher environmental footprint. As much as AI is changing the world and the economy, it could also offer assistance to one of the energy sector’s most pressing needs in times of rising demand, uncertainty in fossil fuel supply, and inflationary and supply-chain pressures in the renewables industry-energy efficiency. AI could be the tool to...

Norway is moving ahead with the next phase of development at Johan Sverdrup, a project designed to help maintain production from the oil field that has become one of Europe's most important sources of crude supply. According to Equinor, new discoveries in the Johan Sverdrup area have laid the foundation for Phase 4 of the giant North Sea field. Preliminary estimates indicate resources of around 20 million barrels of oil and approximately 30 million barrels of oil equivalent, with production...

Iran won’t have to wait for inspectors, certifications, or a long diplomatic victory lap to start earning oil revenue again. Under the agreement expected to formally end the war between the United States and Iran, Tehran will be allowed to immediately resume oil and fuel sales, according to people familiar with the deal who spoke to the Wall Street Journal. The sanctions relief takes effect as soon as the agreement is signed and extends beyond crude exports to include the banking, shipping, and...

The tentative U.S.-Iran deal and the expected drop in oil prices amid increasing flows from the Middle East are set to help narrow India’s trade deficit, which held at relatively high levels in April and May due to the crude price shock. Higher refined petroleum products helped India’s trade deficit narrow slightly to $28.21 billion in May from $28.38 billion in April, but the crude import bill nearly doubled compared to the same month last year.   India’s petroleum imports jumped to $22.7...