Euro has gained strength against dollar in a single-day percentage gain in nearly nine months. The Euro's rise is remarkable, given it is happening just days before the European Central Bank's Dec. 10 meeting, where policymakers are expected to announce additional monetary easing measures. The bearish sentiment around the dollar looks to be powering gains [...]
The Aussie is favored following the release of upbeat China data. The escalating tensions between China and Australia look to be capping gains. The data was released at 01:45 GMT showed China's Caixin Manufacturing PMI, which surveys the small and medium-sized export-oriented units, rose to 54.9 in November versus expectations for 53.5 following October's 53.6. [...]
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 [...]
