Japan’s October month Retail Sales offered a surprise growth of 6.4% YoY versus market consensus of -7.7%. Further details suggest that the preliminary readings of October’s Industrial Production recovered from -14.5% forecast and -9.0% prior to -3.2% YoY. Japan’s industrial output rose for the fifth straight month in October, signaling the economy was recovering further [...]
Fundamental view: Gold is down for the third week in a row but it does not mean that the bull market is over, Some analysts are beginning to reverse their expectations of $2,000 gold by the end of the year. Analysts remain certain that the macro environment is still very supportive of higher gold; some [...]
Fundamental view: The British pound initially pulled back during the course of the week only to shoot higher and reach towards the 1.34 level. An exit from the pandemic is more powerful than a Brexit deal – at least in unleashing late November's rally. EU-UK negotiations remain significant, but also, the calendar is making a welcome comeback, with [...]
Fundamental view: The Australian dollar is at its highest since September 1 against its American rival and not far from the 2020 high of 0.7413. The AUD advantaged the greenback as the investors dumped the latter in benefit of high-yielding assets. US equities rallied to record highs after US President Donald Trump agreed to begin the transition with [...]
