Gold scaled a near two-week peak on Thursday after weak economic data from the United States raised expectations for another interest rate cut by the Federal Reserve, while platinum jumped to its highest level in more than three weeks.
Technical Resistance: 1522/1535
Technical support: 1480/1461
U.K. Prime Minister Boris Johnson’s call for an election
PM Boris Johnson seeking Parliament to approve the election for Dec. 12 in an effort to break the country’s deadlock over its exit from the European Union. The British pound fell versus the dollar and the euro and cast more uncertainties over Britain’s divorce from the European Union.
U.S. initial jobless claims came in lower
The number of Americans filing applications for unemployment benefits unexpectedly fell last week, pointing to a still-tight jobs market even as hiring and economic growth has slowed. Initial claims for state unemployment benefits declined 6,000 to a seasonally adjusted 212,000 for the week ended Oct. 19, the Labor Department said on Thursday.
ECB keeps policy unchanged but door stays open to more stimulus
The European Central Bank left policy unchanged as expected on Thursday but kept the door open to even more stimulus as the euro zone economy continues to suffer from the fallout of broader global turmoil.
Source: Bloomberg, CNBC, Reuters