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Gold (XAU/USD) justifies the double whammy of uncertainty over US inflation and stimulus by printing a three-day losing streak, down 0.20% intraday ar ....
May 28, 2021 15:41 GMTFXStreet News Gold remains on the back foot for third consecutive day, refreshes intraday low of late. Comments from US President Biden, Treasury Secretary Yellen renew US dollar demand. Quiet session in Asia, pre-data/event cautious sentiment adds downside pressure on gold prices. US Core PCE Price Index, stimulus news should be observed for fresh impetus. Update: Gold reversed an early North American session dip to the $1,882 area and refreshed daily tops in the last hour. The downtick followed the release of stronger PCE Price Index data, which showed that the Fed’s preferred inflation gauge (Core PCE Price Index) jumped 3.1% YoY in April. The reading marked the highest level since 1994 and validated the higher inflation narrative. ....
; EUR/USD drops towards 1.1900 as bonds bears dominate ahead of US Pres. Biden’s speechNEWS | 3/15/2021 5:56:23 AM GMT | By Anil Panchal EUR/USD refreshes intraday lows, extends Friday’s pullback moves. Yellen tried to placate bears but failed amid hopes of further stimulus, vaccine news. ECB’s Kazaks teases scaling back of stimulus, Fed meeting will be the key. EUR/USD takes offers around 1.1930, down 0.25% intraday, while heading into Monday’s European session. In doing so, the currency major drops for the second consecutive day as US Treasury yields keep favoring the US dollar ahead of US President Joe Biden’s speech, up for publishing at 17:45 GMT. ....