Fundamental view: The yellow metal had been rocking on the scope for more greenbacks, fiscal stimulus talks seemed to be making progress, but after Congress adjourned, the final nail hit the coffin of talks. The breakdown in talks weighed on the precious metal. Democrats and Republicans were hovering around a $2 trillion deal that could have helped gold prices. [...]
Fundamental view: The British pound has fallen a bit during the course of the week but recovered nicely to reach towards the 1.30 level. United Kingdom may have to slow its economy down, if not market down. We also have the Brexit situation, which is not getting any better, so that is something to pay attention to. [...]
Fundamental view: Bitcoin surged in the last week. Bitcoin has begun to consolidate above $13,000. Despite this bullish trend, most Bitcoin funding rates on leading futures exchanges currently are negative. The major economic events deciding the movement of the pair in the next week are ISM Manufacturing PMI at Nov 02, ADP Nonfarm Employment Change, [...]
Fundamental view: The Euro broke down significantly during the week, slicing through the 1.16 level, an area that will cause a certain amount of psychological importance and support. The second wave of coronavirus is taking its toll in the northern hemisphere, with cases in Europe rising exponentially and the US reaching a record of over 85K new contagions [...]
