The shiny precious is looking a little mottled 16 Feb
It's not just currencies struggling against the USD demand as gold makes its way lower from $1360 to $1354. Ok. it's not a collapse by any means but a decent retreat all the same and decent pips to be had if you sold near the top. A line in the sand seemingly at $1352 should provide a little support.
So all is well with the world again, for a few hours at least, as USDJPY rallies, equities enjoy another positive session and oil trades tightly. US data coming up but given what we've seen so far this week it's not guaranteed to change anything.
Will the USD demand continue as NA desks ramp up? Long w-e for the US traders so we could well see some money come off the table after this week's concerted moves but I don't think we're in a sustained reversal just yet.
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