Fundamental view: Gold struggled to build on the previous week’s inflation-fueled rally and ended with a weekly bearish candle. The Rising US Treasury bond yields favored the greenback and pressurized the Dollar in the beginning of the week. Later the upbeat US data favored the US dollar and underpinned the bearish trend of the pair. [...]
Fundamental view: Aussie initially tried to rally but later fell hard against the greenback during the trading course of the week. The broad US dollar strength and return of covid and related lockdowns pushed the pair down. Austria instituted a partial lockdown and Germany imposed restrictions amid rising case counts that go against high vaccination [...]
Fundamental view: The US dollar has rallied significantly during the course of the week and broke the ¥115 level. The Good US Retail Sales report along with a Consumer Price Index (CPI) at its highest level since 1990 favored the US dollar and in turn may allow the Fed to end its $120 billion bond buying program as targeted by [...]
Fundamental view: Pound managed to overcome the downtrend and traded high against the greenback. Although Brexit talks impacted the cable, it took advantage of improved market mood which weighed on the US dollar. Drop in UK jobless claims in October and rise of inflation to 4.2% YoY in October, higher than the 3.9% forecast by [...]
