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Week Ahead: What Central Banks Say may be More Important than What They Do
There were three outsized moves last week. Gold had a $135 range on Monday, posted a key downside reversal, and fell below $2000 at the end of the week after setting a record high slightly above $2135. January WTI neared $80 on December 1 and traded below $69 on December 7, its lowest level in five months. The seven-week slide matches the longest since July/August 2015. Third, the dollar fell by a little more than 2.1% on December 7 against the Japanese yen as the market seemed to panic into concluding that the BOJ would lift rates in a couple of weeks. The range that day was roughly JPY141.70 to JPY147.30. The ... (full story)