The S&P 500 declined as the Russell 2000 soared as markets digested Joe Biden’s fiscal package. Gold prices sank as the US Dollar shined. The week ahead is fairly busy, with bank and tech earnings,…
Weekly Fundamental Gold Price Forecast: Lacking Luster, a Turning Point Arrives
Between investors seeking higher yielding and more growth-sensitive assets and a sense of disappointment over the Biden stimulus package, gold prices are struggling.
Yen gains mostly to do with positioning, likely to stay limited – Mizuho
Mizuho says that the yen gains today are mostly to do with positioning with the US on holiday
That was also pretty much the case on Friday as the market continues to take cues from then in trading today amid the long weekend in the US.
That was also pretty much the case on Friday as the market continues to take cues from then in trading today amid the long weekend in the US.
Reminder: It is a long weekend in the US
US markets will be closed in observance of Martin Luther King Day
The lack of any „guidance“ by US traders and Wall Street means that the market will have little else to work with besides the clues that we got towards the end of trading last week.
The lack of any „guidance“ by US traders and Wall Street means that the market will have little else to work with besides the clues that we got towards the end of trading last week.
Gold remains in a precarious spot to start the new week
Gold woke up on the wrong side of the bed following the weekend but is managing to hold up for the time being
Elsewhere, silver also saw a 2% slump to near $24 reversed to hit $25.15 before easing back just under the $25 level on the session.
Elsewhere, silver also saw a 2% slump to near $24 reversed to hit $25.15 before easing back just under the $25 level on the session.
Dollar stretches gains on the session
The dollar continues to pick up from where it left off last week
However, the dollar continues to go from strength to strength as it keeps a modest advance against the major currencies bloc so far – likewise is the yen.
However, the dollar continues to go from strength to strength as it keeps a modest advance against the major currencies bloc so far – likewise is the yen.
SNB total sight deposits w.e. 15 January CHF 703.8 bn vs CHF 702.4 bn prior
Latest data released by the SNB – 18 January 2021
Prior week’s release can be found . Amid a bit of a retreat in EUR/CHF towards the latter stages of last week, the SNB is seen stepping back into the market again as sight deposits increased for the first time since mid-December.
Prior week’s release can be found . Amid a bit of a retreat in EUR/CHF towards the latter stages of last week, the SNB is seen stepping back into the market again as sight deposits increased for the first time since mid-December.