Trading gold long on bond and tariffs, optimism on Canadian budget [Video]
|Gold broke through a major technical level last week after the US government announced sanctions against Russia for a variety of offences and on declining US Bond Yields.
Also, the Chinese government has allowed the importation of Gold bullion by banks which should also bolster the price.
Price is now consolidating and we will look at the technical opportunities tomorrow.
The China A50 Index has risen based on a recovering economy and it definitely has room to move to the upside compared to all other major stock indices.
The Canadian Dollar is looking strong against the USD and EUR but weaker or mixed against others.
However, we may see more CAD strength as a new budget will be announced today with an improving economy, the Canadian government should be announcing the tapering of bond purchases which will lift the value of the Canadian Dollar.
Also, Wednesday, watch for the official announcements regarding the Bank of Canada policies and Interest Rate which will cause volatility.
The European Central Bank will also be announcing their Interest Rates Thursday but we don’t expect any changes in policies.
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