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US President Donald Trump has announced his decision to impose new tariffs: → For Canada, tariffs are set at 35%. They are scheduled to take effect on 1 August, although negotiations may take place before this date, potentially influencing Trump’s final stance. → For many other countries, tariffs may be set at 15% or 20%; […]

The post US Dollar Strengthens Following Trump’s Tariff Decision appeared first on Action Forex.

Daily Pivots: (S1) 0.7930; (P) 0.7959; (R1) 0.7998; More…. Intraday bias in USD/CHF remains neutral for the moment. Corrective pattern from 0.7871 could extend higher. But upside should be limited by 0.8054 support turned resistance to bring another fall. Below 0.7871 will extend the larger down trend to 61.8% projection of 0.9200 to 0.8038 from […]

The post USD/CHF Daily Outlook appeared first on Action Forex.

UK GDP unexpectedly contracted by -0.1% mom in May, missing expectations for 0.1% mom growth. The weakness was driven by a sharp -0.9% mom drop in industrial production and a -0.6% mom fall in construction output, partially offset by a modest 0.1% mom gain in services—the largest sector of the economy. Still, broader momentum remains […]

The post UK GDP shrinks -0.1% mom in May, but underlying momentum still holds appeared first on Action Forex.

Key Highlights WTI Crude Oil prices started a fresh decline below the $70.00 zone. A rising channel is forming with support at $66.50 on the 4-hour chart. Gold bulls are struggling to clear the $3,350 resistance. EUR/USD extended losses and corrected below the 1.1720 zone. WTI Crude Oil Price Technical Analysis WTI Crude Oil price […]

The post WTI Crude Oil at Risk — More Downside Could Be Coming appeared first on Action Forex.