Gold Hits Record High as Dollar Strengthens – Correlation Breakdown Raises Risks
Gold made a new record high at US$2,734. The Dollar Index rose to 104 and has now rallied 4% off last month’s lows at 100. Whilst the technical setup still skews to the bearish side on a near-term basis, further upside could ensue over coming weeks if the DXY breaks above 104 as rate differentials […]
Golden Bull
Key themes and stocks discussed today: The major US benchmarks closed mixed on Monday ahead of the key FOMC decision tomorrow. A rate cut is all but a certainty; the only question is by how much. Fed funds futures are pricing in a 59% chance for a 50 bp cut. The US dollar continued to weaken into […]
The next big thing
Markets Rebound After CPI Shock | Debate, Nvidia Rally, Gold Miners in Focus Good morning, Wednesday was a choppy session in the wake of the CPI print which was released prior to the market open. Core CPI (which excludes food & energy costs) came in at +0.3%, which was higher than consensus expectations for a […]
