At least gold still hasn’t breached a key lower level. It is “comfortably above increasingly…” Tom Essaye, founder and president of Sevens Report Research, wrote in a note—if $20 can be considered comfortable. Click here to read the full article.
Nancy Pelosi said last week that negotiations over a coronavirus stimulus package could run through the holiday period, but this is too late according to some analysts. “At this point, markets have priced in and are expecting stimulus near term, so if that…”, said analyst Tom Essaye. Click here to read the full article.
The bottom line is that the market does expect something more” from the central bank, analysts at Sevens Report Research wrote in Monday’s latest newsletter. That doesn’t mean more quantitative easing, but “it does mean some sort…” Click here to read the full article.
“Gold finally found its footing as a steep drop in the dollar and firming inflation outlook…,” resulting in a rally on Tuesday, said analysts in the latest newsletter for Sevens Report Research. Click here to read the full article.
“Historically, good economic data is negative for gold but in this case, real interest rates declined in the wake of the release, as rising…” Tyler Richey, co-editor at Sevens Report Research, told MarketWatch. Click here to read the full article.
Traders moved to “square their books into the end of the month,” said Tyler Richey, co-editor at Sevens Report Research.
Gold “bulls will want to see stable interest rates and renewed recovery in inflation expectations” in order for a rally in gold to continue…” and gave some traders an excuse to book profits into month end. Click here to read the full article.
According to Tyler Richie, co-editor at Sevens Report Research, “The report is weighing on optimism that the global economy would swiftly recover after being effectively closed for…” Click here to read the full article.
“The report is weighing on optimism that the global economy would swiftly recover after being effectively closed for weeks due to…” said Tyler Richey, co-editor at Sevens Report Research, adding that the news helped gold bounce off its earlier lows. Click here to read the full article.
There was a “follow through short-squeeze” in gold prices early Tuesday following Monday’s sharp gain, but that morning squeeze gave way to retracement “as gold became…” said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
What’s in Today’s Report:
International markets were mixed o/n and U.S. stock futures are little changed in choppy trade as investors continue to look for clarity on infection and death statistics related to COVID-19 while digesting a volatile start to the week.
Economically, Japanese Machine Orders rose 2.3% in Feb. vs. (E) -2.7, underscoring the resilience of the manufacturing sector as the coronavirus outbreak began to accelerate.
There are no economic reports due to be released today but the Treasury will hold a 30-Yr Bond Auction at 1:00 p.m. ET and then the Minutes of the most recent FOMC Meeting will be released at 2:00 p.m. ET.
With investors still primarily focused on any developments regarding the coronavirus pandemic, it is unlikely that those two catalysts will move markets today however if there are any surprises, we could see a reaction as volatility remains elevated amid an uncertain macro backdrop.
