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AUD/USD gathers strength above 0.6700 on softer US Dollar
The AUD/USD pair extends its recovery to near 0.6715 during the early Asian session on Monday. The modest decline of the Greenback provides some support to the pair. Investors will keep an eye on the speeches from Federal Reserve officials later on Monday, including Neel Kashkari and Jeffrey Schmid.
EUR/USD: European growth under scrutiny after ECB’s decision
The EUR/USD pair bottomed at 1.0810 on Thursday, its lowest since early August, closing for the third straight week in the red a handful of pips above the level. On the one hand, the US Dollar benefited from a risk-averse environment and upbeat United States macroeconomic data.
Gold at new record peaks above $2,700 on increased prospects of global easing
Gold climbed to a new all-time high above $2,700. The technical outlook suggests that Gold is closing in on the overbought territory. This week’s PMI data could provide important clues about the US economic outlook.
Week ahead: BoC to speed up rate cuts. Flash PMIs eyed for growth clues
Bank of Canada meets; may opt for bigger 50-bps cut. October flash PMIs to set the mood amid some growth concerns. A relatively quiet week otherwise, with mostly second-tier releases.
Canada debates whether to supersize rate cuts
A fourth consecutive Bank of Canada rate cut is expected, but the market senses it will accelerate the move towards neutral policy rates with a 50bp step change. Inflation is finally below target and unemployment is trending higher, but the economy is still growing.
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