
The oil price looks optimistic. What are the reasons?
On Thursday, gold grew in European trade, approaching a one-week peak, reacting to Fed Chair Janet Yellen's congressional testimony to gradually lift interest rates.
In New York, gold futures hit $1,222.49 a troy, rising approximately 0.3%.
On Wednesday, prices tallied a third-straight profit after Yellen sounded quite cautious on inflation. She also stressed that the Fed wouldn’t require lifting rates for the purpose of reaching current low estimates of the neutral funds rate.
Yellen added that the American economy is healthy enough for the major US bank to start winding down its huge $4.5 trillion balance sheet at some point in 2017.
Experts considered the speech to be mostly dovish.
The US dollar index slumped nearly 0.3%, showing 95.31 in early trade, which is not far from the nine-month minimum of 95.22 achieved in late June.
Profits of the benchmark 10-year American Treasury declined to 2.32%, off peaks near 2.39% hit the previous week.
The oil price looks optimistic. What are the reasons?
Congratulations! Gold has just opened a new era... or, rather, reopened...
Gold (XAU/USD) is declining for the second day in a row. The reason of such a dynamic is that investors have turned to stocks.
The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.
USD’s rally takes a pause, while riskier assets are modestly rising.
We are now past the middle of January, and this means that the largest US companies will report their earnings for the fourth quarter and many of them will provide the results of the entire 2020.
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