Gold as well as silver and platinum have seen renewed weakness following yesterday’s FOMC meeting. While the Fed has promised rock-bottom rates for longer than three years, the across market reaction with lower stocks and a stronger dollar, have raised some concerns that the Fed has lost its element of surprise with a tool box looking increasingly empty. With the inflation focus taking a break, the short-term direction is likely to be dictated by movements in US megacap stocks and the dollar.
Unprecedented stimulus has led some countries to focus on a green recovery with more renewables and lower emission vehicles. One policy response to the COVID-19 pandemic has been a determination to use fiscal stimulus to ...The post Green Metals See A Boost on COVID-19 Response appeared first on Emerging Market Views.
Crude oil prices ended the trading session w/w on a bearish note, with losses of more than 6% on the basis that oil traders continued to worry over the outlook for energy demand, as well as a weekly surge in U.S. crude inventories raised fears that the energy market might soon be in an oil glut era.