According to TD Securities analysts, the major focus of financial markets this week will be the ECB meeting, as well as CPI and retail sales data in the US heading into next week's Fed.
“For precious metal markets, the extent of stimulus announced at the ECB meeting, and how the US data impacts Fed pricing heading into next week's meeting, will be of keen importance.”
“Given positioning in precious metals is extremely skewed to the long side, any disappointment in expectations of how dovish central banks will be moving forward could spark a short term consolidation in prices near or below $1,500/oz, while meeting expectations should keep prices firm.”
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