Source: PaxForex Premium Analytics Portal, Technical Insight Unprecedented monetary easing has expanded the US Federal Reserve's balance sheet to a new record. According to St. Louis Federal Reserve Bank, the size of the Fed's balance sheet broke the previous record of $7.17 trillion set in October and reached $7.24 trillion. During the current year, the figure rose by almost 80%, which led to higher inflationary expectations and supported gold. The yellow metal rose by 20+% this year, marking a record high of $2.075 in...
Source: PaxForex Premium Analytics Portal, Technical Insight On Thursday, U.S. stock indices closed with growth, recouping losses previously observed in the course of trading due to the growth of shares of technological companies. The Dow Jones Industrial Average index rose 44.81 points (0.15%) to 29328.95 points. Dow Jones 30, H4 Pivot: 29483.00 Analysis: Provided that the index is traded below 30000.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 29483.00 Take Profit 1...
Source: PaxForex Premium Analytics Portal, Technical Insight Australia: unexpectedly strong labor market report Australia: October, employment rate +178.8 thousand vs. the forecast of -27.5 thousand and pre. -29.5 thousand; The unemployment rate of 7.0% vs. the forecast of 7.1% and pre. 6,9%; Full employment rate +97.0 thous. vs. the forecast of -20.1 thous; Part-time employment +81.8 thou. vs. the forecasted 9.4 thousand; The proportion of the able-bodied population 65.8% vs. the forecast of...
Source: PaxForex Premium Analytics Portal, Technical Insight The price of gold dropped slightly on Wednesday. Investors weighed the news of new coronavirus vaccine development and the chances of further economic support amid a sharp increase in the number of infected in some regions of the world. GOLD/USD, 30 min Pivot: 1862.00 Analysis: Provided that the price is below 1874.00, follow these recommendations: Time frame: 30 min Recommendation: short position Entry point: 1862.00 Take Profit 1: 1855.00 Take Profit...
Source: PaxForex Premium Analytics Portal, Technical Insight As reported last night by the President of the Richmond Federal Reserve Bank T. Barkin: The next few months will be difficult for people; governments are adapting to the growing risks associated with the virus; The news about the vaccine are very positive for the business community, which can start planning investments; Every new month of buying assets means additional stimulus and more support for the economy; When asked about the new stimulus...
