The ECB policy meeting on Thursday is the ideal place for central bank President Christine Lagarde to start to outline a rate cut timetable. Trouble is the meeting will likely follow the familiar ‘let’s wait and see the data’ script.
Gold has produced a phenomenal week of volatility with markets shifting from major risk aversion to surrendering most of its gains as US jobs data runs hot
Gold prices have been stuck in a broad range these last two weeks. Potentially high impact event risk (FOMC, PMI or NFP) may provide the necessary impetus for a breakout.