Market News - Gold, Oil & Forex

EUR/CAD extended its near term rally today as increasingly hawkish rhetoric from senior European Central Bank officials continued pushing markets toward pricing a June rate hike, while falling oil prices added renewed pressure on Canadian Dollar. The pair resumed its rebound from 1.5941 and is now approaching the key 1.6148 resistance zone, with broader momentum […] The post EUR/CAD Rally Continues as ECB Officials Prepare Markets for June Hike appeared first on ActionForex.

Minneapolis Fed President Neel Kashkari warned that inflation risks are becoming increasingly concerning as the Middle East conflict continues pushing energy and supply-chain costs higher across the global economy. Speaking in Tokyo, Kashkari said “most of the data has said the inflationary risks are higher, not lower.”. Kashkari argued that the persistence of elevated inflation […] The post Fed’s Kashkari Warns of Rising Inflation Risks, But Says It’s Too Soon to Predict Rate Hike appeared...

At the start of the week, the US currency continues to trade near significant levels amid ongoing uncertainty surrounding negotiations between the United States and Iran. Markets are closely monitoring reports suggesting a possible prolongation of the negotiation process and an increased US military presence in the Middle East, both of which are supporting demand […] The post Geopolitical Risks Support the Dollar Ahead of Fresh US Data appeared first on ActionForex.

Markets US and UK markets reopened yesterday after long weekend, allowing room for some repositioning to Monday’s bond and stock rally on enthusiasm on a US-Iran deal. European bond markets underperformed with curves bear steepening on the back of ECB comments. ECB board member Schnabel backs a June rate hike even with a peace deal […] The post Sunrise Market Commentary appeared first on ActionForex.

In focus today Today is quiet in terms of data releases. Focus remains on developments between the US and Iran and implications on markets. Economic and market news What happened overnight In New Zealand, the Reserve Bank decided to maintain its cash rate at 2.25%, in line with market expectations. Despite holding rates steady, policymakers […] The post Upward Pressure on Swedish PPI Continues appeared first on ActionForex.

ArcelorMittal SA (MT) has climbed to the 16th spot in the Global Mining Titans Index, signaling strong analyst confidence. Despite recent price consolidation, this upgrade warrants a closer look from traders.

WTI Crude Oil experienced a sharp correction, falling below $95 and testing key support levels. Bulls are now attempting a recovery, eyeing a return above the $100 mark amidst emerging upside risks.

Australian headline inflation eased to 4.2% year-on-year in April, significantly below market forecasts and signaling a potential shift in the Reserve Bank of Australia's monetary policy stance. The softer-than-expected print could offer support to the Australian Dollar.

AUD/NZD may finally be running into a wall. After months of powerful upside momentum, today’s combination of a hawkish RBNZ shock and softer Australian inflation data delivered the strongest challenge yet to the pair’s medium-term uptrend. The correction risks are clearly growing - but markets still are not fully convinced the reversal has truly started. […] The post AUD/NZD Correction Risk Growing After RBNZ and Australia CPI, But Confirmation Still Missing appeared first on ActionForex.

The Monetary Policy Committee today voted to hold the OCR at 2.25 percent. Annual consumers price inflation was 3.1 percent in the March quarter. The Middle East conflict is increasing near-term inflation and weakening economic activity. Inflation is expected to peak at 4.3 percent in the September quarter and to return to the 2 percent […] The post (RBNZ) OCR on hold at 2.25% appeared first on ActionForex.