Gold prices consolidated near the 10-day moving average moving sideways ahead of Wednesday CPI and Retail Sales reports in the United States. Resistance is seen near the 50-day moving average at 1,292. Momentum is flat as the MACD (moving average convergence divergence) histogram prints near the zero-index level with a flat trajectory which reflects consolidation.
The EIB May Face Reduction in Lending Volume
The European Investment Bank may face reduction in lending volume due to Brexit. The President of the European Investment Bank (EIB) Hoyer warned in an interview with Boersen-Zeitung that if other EU member states don’t replace the U.K.’s capital share of 16% the maximum lending capacity of the bank could fall by as much as EUR 100 bln. Hoyer said, however, that a cash infusion is not needed and that it would be sufficient to transfer a small part of the bank reserves will be transferred to equity.
This article was originally posted on FX Empire
More From FXEMPIRE:
- Market Snapshot – Global Stocks under Pressure on US Tax Reform Doubt
- USD/JPY Fundamental Daily Forecast – Turns Lower on Upbeat Comments from BOJ’s Kuroda, Lower U.S. Yields
- The Pound Falls on Theresa May Leadership Pressure, US Futures Lower on Tax Reform Uncertainty
- Potential Revolt Against U.K Prime Minister
- Crude Oil Price Update – Trader Reaction to Pivot at $57.40 Will Determine Direction Today
- Bitcoin Hits Another Bump along the Road