The US dollar strengthening presses gold…
Forex TV
The US dollar plunged sharply yesterday after a set of weak economic data. GDP dropped to 2.0% while the forecast was 2.6%. The previous GDP growth was 6.7%.
The Bank of Canada ended its bond-buying stimulus program and accelerated the potential timing of future interest rate increases. Traders await the ECB meeting and the release of lower than expected US advance GDP growth.
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Rallies in China’s technology equities and property shares were among the more notable moves. Local media said Evergrande paid a dollar-bond coupon before a weekend deadline, easing concerns about possible contagion from any default by the firm. What else can we spot today?
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. Will the US economic data today support the greenback?
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