Gold continued to trend higher on Friday and hit new all-time highs, being the top performer in the market for the second consecutive day and on track for a weekly gain of around 3.3%. Fresh acceleration higher was sparked by almost certain Fed rate cut next week, with renewed rise in expectations for more aggressive […]
The post XAU/USD Outlook: Gold Extends Its Sharp Rally into Uncharted Territory and Approaches $2,600 Target appeared first on Action Forex.
China’s economic data for October showed a mixed performance, with retail sales surpassing expectations while industrial production and fixed asset investment slightly underperformed. Industrial production grew by 5.3% yoy, just shy of the expected 5.4% Read more…
Japan’s economy expanded by 0.2% qoq in Q3 2024, aligning with market expectations but indicating a slowdown from the previous quarter’s momentum. On an annualized basis, GDP grew by 0.9%, surpassing the anticipated 0.7%, yet Read more…
Key Highlights USD/JPY started another increase above the 154.65 resistance. A key bullish trend line is forming with support at 155.25 on the 4-hour chart. Gold extended losses and traded below the $2,600 support. Oil Read more…