Gold exceeded $2.000 per ounce. Stock futures rose on Wednesday as investors awaited further updates on stimulus talks.
Gold gains more than 1% against the US dollar
Information is not investment advice
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.
New COVID-19 cases globally have been on the rise lately, although it is too early to call them second waves in most countries.
With the pandemic claiming about 1000 lives a day in the United States, many departments said they lack the money and the staff to identify people who have been exposed, according to a survey of a 121 local agencies.
US stocks are set to open lower Friday, with investors worry over rising tensions between the US and China, deadlock over the next virus relief bill and possible disappointments from the key monthly employment report.
The pair was falling down amid the waning US dollar. However, the situation changed this month.
Dollar continues to keep firmer on the day, all eyes on the US jobs report later.