Gold prices fell with stocks and crude oil prices as the ECB dithered on imminent stimulus expansion. More of the same may come after soft US GDP data.
Crude oil prices may continue to fall after suffering the largest weekly drawdown in two months as the outlook for global growth – and thereby energy demand – sours.
Gold prices are coiling up for a breakout, with a revised set of first-quarter US GDP figures lining up as a would-be catalyst.
USD/CAD may continue to consolidate ahead of the U.S. Non-Farm Payrolls (NFP) report on tap for May 3 as it snaps the series of higher highs & lows from earlier this week.
US Dollar strength is rolling through markets today, pushing the DXY Index to the highs seen in November and December 2018 and March 2019.
The Easter Monday-shortened week will feature several key events, as well as a return of Brexit developments to the news wires.
The initial Q119 US GDP report is due on Friday, April 26 at 12:30 GMT.
The March US Consumer Price Index is due on Wednesday, April 10 at 12:30 GMT.
Gold and crude oil prices may fall while the US Dollar attracts haven-seeking capital flows if a disappointing US GDP revision keeps investors in a downbeat mood.
Consensus forecasts call for Q418 US GDP to come in at 2.4% annualized.
AUD/USD may face a more bearish fate over the coming days if the Relative Strength Index (RSI) fails to preserve the upward trend from earlier
The US Dollar may follow the Japanese Yen and Swiss Franc higher as US GDP data amplifies fears about policy support amid global slowdown and