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All eyes on the ECB and potential currency devaluation rate
All eyes will now be watching the European Central Bank to see if they will do anything to push inflation pressures higher. Although new stimulus measures from the ECB would boost the U.S. dollar and, in turn, drive gold prices down, analysts have said that investors should look past this short-term volatility and focus on the bigger picture: a new lap in the global race of currency devaluation. Marc Chandler, chief market strategist at Bannockburn Global Forex, said that technical indicators point to continued consolidation in the near-term. However, he does not expect to see any significant correction. “If the ... (full story)
