The Hang Seng Index has transformed into a medium-term uptrend phase with key support at 17,110. Momentum factor is now taking a front seat over fundamentals such as the deflationary risk spiral. A softer than-expected China CPI and PPI prints for April may further erode consumer confidence. A yuan devaluation cannot be ruled out to […]
Gold edges lower on Tuesday morning after rally in past two days reaching levels ticks away from new record high ($2531). Traders show hesitation, keeping the price in extended consolidation, but demand for yellow metal remains strong, mainly due to weaker dollar on Fed rate cut signals and growing geopolitical tensions in the Middle […]
The post XAU/USD Outlook: Extended Consolidation Likely to Precede Fresh Acceleration Higher appeared first on Action Forex.
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