Gold Up As Dollar Stalls Ahead Of US CPI, Retail Sales
The dollar buying witnessed at the start of the week was driven by rising expectations about a June rate hike following last week’s FOMC statement and a solid US monthly jobs report.
The dollar buying witnessed at the start of the week was driven by rising expectations about a June rate hike following last week’s FOMC statement and a solid US monthly jobs report.
Last week’s bearish engulfing candle for gold on the weekly chart appears to have had some follow through at the start of the new trading week, as the precious metal fell victim to a renewal of risk appetite as most global equity markets made fresh monthly highs, and the S&P and DOW soaring into new high ground.
It was yet another interesting week for the USD, which continued to remain firmly in the control of the bears, with the pair closing the week on a wide spread down candle as pressure continues to build on the pair.
Today’s Key Economic Data – Remember this morning we get the government’s non-Farm Payroll report today at 8:30am EDT.
Today’s Key Economic Data
Today’s Key Economic Data
Today’s Key Economic Data
Today’s Key Economic Data
Today’s Key Economic Data
Today’s Key Economic Data