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Gold gains more than 1% against the US dollar
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Midday Market View
European equities gained along with US equity futures as earnings results from American tech names have changed the negative sentiment. Although there is a risk of a second wave of COVID-19 which likely will put downward pressure on rates, however, risky assets are supported by fiscal and monetary stimulus.
Amazon, Apple and Facebook are rising on pre-market after stellar quarterly results.
Treasury yields slightly lower, while the dollar is little changed against both the EUR and the Yen.
Midday Key Point
- Gold gains more than 1% against the US dollar and currently trading at 1976. Intraday it reached up to 1980 which is a new record for the precious metal.
- GDP data from Canada is due.
- Chicago PMI also out at 15:45 CET today.
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus