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Slow strangling dollar strength impacting on key technical supports on Gold and Silver
It was an interesting session yesterday, where market sentiment was positive on the back of talk of further stimulus in Asia and then the US session took positive data (improving Personal Consumption Expenditure and Pending Home Sales)in a positive fashion. This also drove dollar strength too. So we had the curious situation where positive data was both positive for equities and the dollar. This is something unusual for these markets of late, with equity markets seemingly scared of shockwaves of a move towards FOMC tightening. This is a positive sign for markets and it will be interesting to see if it is a mere one ... (full story)