Gold tumbled to fresh three-month lows this week as the awful combination of Dollar strength and revived expectations over the Fed raising US rates in December encouraged sellers to attack. WTI Crude was uplifted further following the rising optimism over OPEC securing a freeze deal in November. The Brexit jitters continue to punish the Sterling while Fed hike hopes have kept the Dollar buoyed. Investors may direct their attention towards Fridays NFP which could provide additional clarity on how the US labor force is faring in this period of uncertainty.
• The #EURUSD remains pressured below 1.1200 • #GBPUSD has sunk to a 31 year low and could trade lower • #Gold remains under pressure • #WTI bulls struggle to break above $50
Gold tumbled to fresh three-month lows this week as the awful combination of Dollar strength and revived expectations over the Fed raising US rates in December encouraged sellers to attack. WTI Crude was uplifted further following the rising optimism over OPEC securing a freeze deal in November. The Brexit jitters continue to punish the Sterling while Fed hike hopes have kept the Dollar buoyed. Investors may direct their attention towards Fridays NFP which could provide additional clarity on how the US labor force is faring in this period of uncertainty.
• The #EURUSD remains pressured below 1.1200
• #GBPUSD has sunk to a 31 year low and could trade lower
• #Gold remains under pressure
• #WTI bulls struggle to break above $50
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