Gold Spot / U.S. DollarUpdated XAUUSD go up 1635
Fed launches open-ended QE to support economic activity.
US Dollar Index pulls away from multi-year highs, holds above 102.
Wall Street's main indexes extend slide on Monday.
USD loses strength on Fed's aggressive move.
The Fed on Monday said it has launched an extensive range of new programs to confront disruptions to the economic activity in the face of the coronavirus outbreak. Further details of the announcement revealed that it will start buying treasuries and mortgage-backed securities in the "amounts needed," which is essentially seen as an unlimited quantitative easing program.
The initial market reaction caused the greenback to come under strong selling pressure and provided a boost to the pair.
Although it's too early to say, gold might be re-establishing its status as a safe-haven amid easing worries over USD shortage in funding markets.
On the other hand, Wall Street's main indexes failed to capitalize on this development and suffered heavy losses at the opening on Monday to show that investors are still not convinced that the global economic slowdown will be temporary. Reflecting the intense flight-to-safety, the 10-year US Treasury bond yield is erasing 12% on Monday.
US Dollar Index pulls away from multi-year highs, holds above 102.
Wall Street's main indexes extend slide on Monday.
USD loses strength on Fed's aggressive move.
The Fed on Monday said it has launched an extensive range of new programs to confront disruptions to the economic activity in the face of the coronavirus outbreak. Further details of the announcement revealed that it will start buying treasuries and mortgage-backed securities in the "amounts needed," which is essentially seen as an unlimited quantitative easing program.
The initial market reaction caused the greenback to come under strong selling pressure and provided a boost to the pair.
Although it's too early to say, gold might be re-establishing its status as a safe-haven amid easing worries over USD shortage in funding markets.
On the other hand, Wall Street's main indexes failed to capitalize on this development and suffered heavy losses at the opening on Monday to show that investors are still not convinced that the global economic slowdown will be temporary. Reflecting the intense flight-to-safety, the 10-year US Treasury bond yield is erasing 12% on Monday.
Note
Gold complete target. Then Gold maybe control down
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.