Spot gold looks forward to Wednesday’s inflation print while XAU/USD hovers around key resistance.
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Spot gold looks forward to Wednesday’s inflation print while XAU/USD hovers around key resistance.
from DailyFX – Market News https://bit.ly/3E4GcFU
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The crude oil price has given up some of Friday’s gains, but the US Dollar appears to be the driving sentiment for markets after recalibrating on news around China’s potential reopening.
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The Euro has stalled in its recovery against the US Dollar as ambitions for China easing of restrictions evaporated over the weekend. With US CPI ahead, will it drive EUR/USD lower?
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The Australian Dollar looks poised to rise against the US Dollar as rumors of a Chinese policy shift on Covid circulate. China’s trade balance for October is in focus for APAC traders.
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US stocks surged on Friday after a mixed non-farm payrolls report, which muddied Fed rate hike bets. Rumors of a Covid policy reversal in China boosted APAC markets. The US CPI report is on tap this week.
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