Commodities outlook: oil and gold
What are the projections for the oil and gold prices? Let's discover that in the review for commodities.
EURUSD : targets in medium term 1.20 area and higher
Information is not investment advice
Ichimoku Kinko Hyo
GBP/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
Fibonacci Levels
XAU/USD: Gold facing a further weakness the last hours and trading below 38.2% retracement area
US Market View
U.S. stock markets are set to open lower, consolidating after closing at new record highs on Friday, ahead of the start of a keenly-anticipated earnings season. The U.S. economy is about to emerge from its Covid-19 hibernation in style, Federal Reserve Chairman Powell said in an interview aired by CBS’s ’60 Minutes’ on Sunday.
Powell warned that the pandemic still posed a risk to the U.S. economy, saying that the continued use of social distancing and mask-wearing is “smart”. New infection numbers in the U.S. have edged up steadily for the last two weeks.
The Indian currency fell to its lowest in over eight months after the country recorded another surge in coronavirus cases, underlining its status as the world’s hottest Covid-19 hotspot right now.
There was better news on the pandemic front from the U.K., where England beer gardens and outside dining areas, in response to a sharp decline in new infection rates.New infections and deaths have both fallen to their lowest levels since September, against the backdrop of a relatively rapid vaccination campaign that has led to 32 million people – over half the adult population - receiving at least one shot so far.
USA Key Point
- The GBP is the strongest and the CAD is the weakest.
- Germany reportedly set to extend lockdown by another three weeks.
- Merkel warns that current virus infection rate is much too high, third wave may be toughest.
- Pound buoyed as buyers keep a defense of key technical levels for now.
Gerasimos Papagiannis
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Commodities outlook: oil and gold
What are the projections for the oil and gold prices? Let's discover that in the review for commodities.
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