Gold was seen to form rising wedge on hourly chart and slips below $1,950. It appears to be struggling to keep its latest recovery moves and is forming a bearish technical pattern.
Meanwhile, President’ Donald Trump latest announcement early this morning hinting that ‘a lot of big news is coming over the next few weeks’ did not seem to have much effect on the currencies yet, most likely due to the absence of trade news in his announcements. Stay posted for the US retail sales data as well as University of Michigan consumer sentiment index.
On a related note – the greenback got a slight boost with the upbeat weekly unemployment claims – which fell below 1 million – for the first time since US began lockdowns in March.
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