Gold fell for a fourth straight session on Monday, hitting a two-week low as investors’ appetite for riskier assets increased on renewed optimism that a resolution to the protracted U.S.-China trade conflict will soon be reached.
Technical Resistance: 1481/1496
Technical support: 1430/1406
Dollar hits one-week high on yen as U.S.-China trade deal hopes rise
The dollar held an upper hand against the yen on Tuesday as optimism on a trade deal between the United States and China dented the allure of the safe-haven unit while the British pound was supported by hopes of an end to a hung parliament.
Fed’s Powell: Monetary policy well positioned to support strong labor market
Monetary policy is “well positioned” to support the strong labor market, which is just now starting to benefit workers on the margins, Federal Reserve Chair Jerome Powell said Monday at an annual dinner for the Greater Providence Chamber of Commerce.
British parliament to reconvene on December 17
Britain’s parliament will be reconvened on Dec. 17 following the general election, and if Prime Minister Boris Johnson remains leader, his government plans to set out its legislative agenda on Dec. 19, the government said on Monday.
Source: Bloomberg, CNBC, Reuters