Gold has showed weakened position as the risks remain skewed to the downside heading into the economic data dump slated for release from the US docket. Investors sold-off the safe-haven gold alongside the US dollar amid a risk-on market profile, driven by corona virus vaccine progress, Biden transition and fiscal stimulus hopes. Reduced US pollical [...]
The Reserve Bank of Australia's (RBA) Deputy Governor Guy Debelle was out on the wires Tuesday, stating lack of conviction in negative interest rate policy as a tool to boost inflation and employment. The central bank recently cut rates to a record low of 0.10% and has been buying bonds since the second quarter to [...]
NZD/USD extends its rally to hit the highest levels since December 2018, as the bulls rejoice a big beat on New Zealand’s Retail Sales data. The NZ retail consumer spending jumped by 28% QoQ in Q3 vs. 20% expected. Meanwhile, successful vaccine trials - led risk-on mood also adds to the strength in the Kiwi. [...]
EUR/USD has recovered sharply back into positive territory on the day. Triggering the abrupt recent injection of risk appetite into markets in recent trade was the news that US fiscal stimulus talks are back on; Democratic Minority Leader of the Senate Chuck Schumer said that Republican Senate Majority Mitch McConnell had agreed to resume negotiations [...]
