Correlation between the euro and gold | 05 مارس 2021
05 مارس 2021, EUR/USD
EURUSD trading plan:
The bearish rally in the precious metals market has a negative impact on the value of the European currency, as the euro and gold are correlated with each other. U.S. Federal Reserve Chairman Jerome Powell disappointed investors with his views on the Treasury yields pushing bond yields up. The U.S. 10-year yield topped 1.5%.Powell repeated his pledge to keep credit loose in a speech to the Wall Street Journal jobs summit and added that although the rise in yields was “notable”, he did not consider it a “disorderly” move.
Investment idea: sell 1.1970 and take profit 1.1930.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
