Key Drivers: Struggling to overcome supply at 1.3705 to 1.3740. Incline support at risk (breakdown in play). Daily RSI at 52 (neutral), but trending lower and shifting away from weekly…
Analysis of key markets.
The dollar was slightly up on Wednesday morning in Asia, trading near a two-month high against the euro as the disparity between the strength of the U.S. and Europe’s pandemic recoveries widened.
Oil rose in early trade on Wednesday on expectations global oil stocks will fall back to more normal levels this year and as U.S. lawmakers moved closer to approving President Joe Biden’s $1.9 trillion COVID-19 aid bill without Republican support.
All good things have come to an end, as the saying goes. Such was the case with gold on Tuesday, though its one-day rally was too short to begin with.
A quick reminder of what happened in the markets yesterday.