EUR/USD is testing the resistance level at 1.2080.
Overall currency markets are confronted by a crucial yet extremely cautious week ahead. Price ranges this week are running at the widest points in many months and adds to the potential of big moves.
Gold is just an investment that competes for capital just like bonds, stocks and now cryptocurrencies.
The BOJ didnt act on Friday, but its benchmark yield surged to within a couple of basis points of the perceived limit of the central bank.
Asia-Pacific stock indexes were pressured as risk assets lost their sheen after global bond yields firmed on expectations of economic expansion.
The S&P 500 Value Index dropped 1.3% while the growth index rose 0.3% in a reversal of this months trend.
It was a bullish month for the European majors, in spite of a end of month sell-off. COVID-19 vaccinations, economic data, corporate earnings, and stimulus delivered optimism.
Fears of reinflation sparked demand for the safety of the Greenback in the week, leaving commodity currencies and the equity markets in the red.
It was a bearish week for the majors, weighed by reinflation fears. Economic data delivered a more optimistic outlook on the economy, however.
US yields ease
Silver markets have initially tried to rally during the course of the week but continues to see quite a bit of resistance above the $28 level.
Crude oil markets pulled back a bit during the session on Friday as we have seen a little bit of profit-taking heading into the weekend.
The 2020s might be less roaring than the 1920s, which seems like good news for gold.
Gold just doesn‘t seem to care and is stubbornly ignoring its inverse relationship with the USDX. What accounts for gold’s current downward trend？
The US dollar initially pulled back during the week to test the ¥105 level again but has turned around to smash through the top of last weeks shooting star.
Strong dollar put significant pressure on silver.
In today‘s Traders Edge Market Briefing, Tomasz found these amazing setups we thought you’d find interesting!
Economic data from France and the U.S will be in focus later today. U.S inflation figures could deliver further upside to yields later today…
In what was a frenzy of selling pressure, market participants bid U.S. equities, and the entire precious metals complex substantially lower in trading today.
Inventories decline more than expected
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