Ipek Ozkardeskaya
Swissquote Bank Ltd
The S&P500 celebrated its 41st record high yesterday on rising Federal Reserve (Fed) rate cut bets. Chinese equities extended rally as well as the People’s Bank of China (PBoC) cut its MLF rate this morning, on top of the measures announced earlier this week. Global mining stocks are shining.
Elsewhere, the US dollar weakens and the dollar’s weakness masks the gloomy fundamentals of the European economies. Gold and oil remain bid on the back of geopolitical tensions.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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Gold loses ground below $2,700 amid firmer US Dollar
Gold price trades with mild losses near $2,690 on the stronger US Dollar broadly during the early Asian session on Monday. However, the safe-haven demand due to uncertainty surrounding the President-elect Donald Trump administration's policies might help limit the Gold’s losses.
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Think ahead: Mixed inflation data
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