Fundamental view: Gold has rallied again during the week. And a plenty of momentum is seen in the yellow metal. The coronavirus vaccine rollout, Brexit optimism and heightened hopes for a US stimulus bill caused risk flows to dominate the financial markets and continued to hurt the greenback. Mirroring the broad-based USD weakness, the US Dollar Index, [...]
The Bank of Japan (BOJ) left its monetary policy setting unchanged after concluding its two-day September monetary policy review meeting on Friday. The central bank left the key rate steady at -10bps while maintaining a 10yr JGB yield target at 0.00%. Japan’s government raised the FY2021 GDP estimate +4.0% from the previous forecast of +3.4% [...]
Gold held firm near a one-week high on Thursday as progress on a U.S. fiscal stimulus deal weighed on the dollar, while a pledge by the Federal Reserve to keep rates low until an economic recovery is secure lent further support.U.S. congressional negotiators haggled on Wednesday over details of a $900 billion COVID-19 aid bill [...]
The cost of living in the UK as represented by the Consumer Price Index (CPI) for November month is due early on Wednesday at 07:00 GMT. The key inflation data will join the current Brexit drama, the coronavirus (COVID-19) vaccine headlines and the US covid stimulus updates to entertain the Pound traders. The price economics [...]
