Gold Price Forecast: XAU/USD Jumps to Monthly High, Aims Higher 2020-12-17 21:00:00 Peter Hanks, Strategist
Gold Price Outlook:
Gold jumped to a 4-week high just beneath $1,900 after the December FOMC rate decision
A reiteration of the Fed’s intention to allow inflation greater than 2% has likely fueled recent gains
Nearby resistance rests near the $1,920 mark which, if broken, could open the door to a continuation higher Advertisement
Gold Price Forecast: XAU/USD Jumps to Monthly High, Aims Higher
Gold has regained its luster in December, charging from $1,765 to the $1,880 area. The metal enjoyed its most recent extension higher after recent Fed commentary bolstered the precious metal’s outlook. With the Federal Reserve likely to maintain its accommodative policyand Congress trending toward another stimulus package, US Dollar weakness and a rise in inflation expectations seem likely
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Canadian Dollar Forecast: USD/CAD Breaks Down. Will it Fall Further? 2020-12-15 21:05:00 Peter Hanks, Strategist
USD/CAD Price Forecast:
USD/CAD slipped to a fresh yearly low Tuesday despite jawboning from the Bank of Canada Governor
Recent losses have extended the pair’s significant decline since March and left USD/CAD on a steep downward trajectory
With jawboning from BOC Governor Macklem and an upcoming FOMC rate decision, USD/CAD could undergo significant volatility Advertisement
Canadian Dollar Forecast: USD/CAD Breaks Down. Will it Fall Further?
USD/CAD broke lower Tuesday, falling to levels not seen since April 2018. Recent losses have seen the pair extend its sharp decline since late November and its broader weakening since March. Widespread USD weakness and modest Canadian Dollar strength have combined to create a longer-term downtrend for the pair that now threatens to ext
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European indies have entered consolidation mode after surging higher in November. After treading water for days, the DAX 30 and CAC 40 appear slightly vulnerable but the bullish trend remains intact.