Breaking through the $2700 mark! Has gold replaced US debt as the safest 'safe haven'?
Driven by various factors such as geopolitical tensions, the USA elections, and central bank bids, the gold price hit a new high intraday. Bank of America believes that considering the potential increase in the federal deficit after the elections, putting pressure on the US bond market, gold may become more attractive, with the potential to rise further to $3,000.
Strong U.S. Data Suggest Dollar Can Rise Further -- Market Talk
Yu Xin Bank: The euro has rebounded from its recent decline, but is still expected to weaken further.
After the European Central Bank cut interest rates by 25 basis points on Thursday, the euro rose from its decline against the US dollar, but analysts at Yuxin Research Department said the euro may soon decline again. They say that as investors face the prospect of the ECB further cutting interest rates in the coming months, possibly at every meeting, better-than-expected US data is "favorable to the US dollar," pointing to a slower pace of Fed interest rate cuts. Yuxin stated that if the euro falls below $1.08 against the US dollar, it may drop to $1.07. According to FactSet, the euro rose 0.1% to $1.0843, after falling to a two-and-a-half month low on Thursday.
Two ECB officials are pleased to see progress in reducing inflation, but still warn that it should not be taken lightly.
European Central Bank Governing Council member Madis Muller stated that as the euro area economy weakens, the inflation rate is moving towards the European Central Bank's 2% target, but the danger of price increases still exists.
"Economic non-landing" and "Trump trade" dominate the market in the usa.
The retail sales data in the usa surged unexpectedly in September, increasing the possibility of 'no landing' and severely impacting interest rate reduction expectations, resulting in a collective increase in US Treasury yields; the expectation of Trump's re-election heating up is driving the return of 'Trump trade', with his media technology companies' stock prices soaring in September, and banks performing well, while both the US dollar and bitcoin have risen to record highs.
EUR/USD Appreciates to Near 1.0850 Despite Less-dovish Sentiment Surrounding the Fed
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.... Is an RN a "Registered Nurse?"