Mixed signals in the Eurozone economy fuel the debate whether the current pickup in inflation and the decrease the unemployment is sufficient proof for the upcoming ECB stance.
ECB extends the period for recovery, stocks and Dollar are up, Euro is down.
ECB head Draghi noted that the timid inflation pace may force the bank to extend the QE. The Dollar resumes gains, as Oil stays near a three-week high thank to undecided OPEC.
Saudi Arabia opens up for global investments with the new bond offering , as the stocks are mixed ahead of ECB.
The price of the bullion cut through the $1300 support level falling to a pre-Brexit as the Dollar gains strength ahead of the Non-Farm Payrolls.
The weak US dollar usually supports gold as it boosts the metal’s appeal as an alternative asset and decreases prices of dollar-denominated commodities for holders of other currencies. Same happened today!
The borrowing costs remained at their historically low level at 0.25%
Bank of Japan’s decision to cut the interest rate was quite surprising for markets