Gold is trading upside against greenback This is mainly due to the persistent weakness US Treasury yields. But the demand for the US dollar, amid concerns over the US President Biden’s $2.25 trillion infrastructure stimulus and covid infections is acting as a barrier in the upside trading of gold. U.S. 10-year Treasury yields has edged [...]
Fundamental view: The US dollar has pulled back significantly during the course of the week to test the ¥109 level for support. With following the bouncing yields, the fall for the first four days as US Treasury yields saw their deepest losses in a month then rebounded as the credit market reversed on Friday. On [...]
Fundamental view: Euro showed an uptrend against greenback in the past week reaching a 1.19 level. The major reason for that is the broad dollar’s weakness as the result of falling US Treasury yields. US policymakers have repeated multiple times this week that the ongoing massive stimulus program will remain in place until the economy [...]
Fundamental view: The British pound rallied a bit during the week. Pound has managed to edge higher amid the UK reopening and dollar weakness. Apart from Covid news, Pound is set to rock in response to a series of top-tier UK data points. The main dollar drivers came from critical data points. In the meantime, Jerome Powell, Chairman of [...]
