Correlation between the European currency and gold | 08 11月 2021

08 11月 2021, EUR/USD

Correlation between the European currency and gold

EURUSD trading plan:

A bullish rally in the precious metals market will have a positive impact on the value of the European currency, as assets correlate with each other. Extremely low interest rates to spur economic growth during the pandemic have pushed gold prices to new highs over the last two years, as easy monetary policy cuts the opportunity cost of holding non-yielding assets. The Federal Reserve stuck to its view that inflation would prove “transitory” and would likely not require a fast rise in interest rates. Following that, the Bank of England surprised markets by keeping rates on hold.

Investment idea: buy 1.1537 and take profit 1.1590.

David Johnson
Analyst of «FreshForex» company
同意该评论吗?
交易员的评论:
Close
授权
您浏览器禁用cookie 文件. 在此情况下, 私人空间显示不正常. 如何启动cookie 文件的支持.
manager photo manager photo
Online-support
我们很高兴回答您的问题

提交申请

Get bonus