Gold: breaking through towards $2000?
The gold price is now at the crossroad. Will it revert and fall back into the downtrend or aim at the all-time highs?
AUD/USD remains weak as investors await FOMC
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAU/USD: Gold facing a further weakness the last hours and trading below 23.6% retracement area.
US Market View
U.S. stocks are seen opening largely unchanged Wednesday, remaining near record levels amid rising investor optimism over the economic recovery as Covid-19 vaccination program runs. Stock markets have gained from the expectation of the Biden administration delivering a $1.9 trillion stimulus package later this month, while the government also announced Tuesday plans to acquire an additional 200 million doses of Covid-19 vaccines, enough to inoculate most Americans by summer.
Unpaid debt from pandemic-stricken borrowers has ravaged profits at Europe's big banks and kick-started a debate among politicians about whether they may ultimately need state help. While executives voice confidence, European officials worry the banks' problems have started. They fear more borrowers will default when government support, including billions of euros of loan guarantees in France, Spain and elsewhere, is unwound.
USA Key Point
- EU says it has reached new deal with Moderna for supply of 300 million vaccines.
- Dollar keeps more resilient ahead of North American trading.
- UK PM Johnson supports that lockdown should be eased in stages.
- German health minister says that data shows virus variants are spreading quickly in Germany.
- Draghi supports that Italy will not regain pre-pandemic levels before the end of 2022.
- Gold falls to fresh lows in over two months amid firmer dollar, higher yields.
- Cable tests key near-term support once again as dollar moves lower.
Gerasimos Papagiannis
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Popular
Gold: breaking through towards $2000?
The gold price is now at the crossroad. Will it revert and fall back into the downtrend or aim at the all-time highs?
GPB/USD : stands on key resistance area
Fibonacci Levels XAU/USD: Gold facing a further consolidation below a full time retracement area…
EURUSD : further upside remains very likely
Ichimoku Kinko Hyo USD/JPY: The pair is trading below the cloud…
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