Gold trades higher to make a new all-time high today as risk sentiment remains bullish.
- Risk-on sentiment continues to dominate markets, getting perhaps an extra fillip today on hopes for more Chinese stimulus as markets open in Asia for the week. Stock markets are bullish, with the S&P 500 Index close to making a new record high. The standout asset as the week gets underway is Gold, which has just traded at another new record high price. It is likely to be a relatively quiet Monday today, so these two assets are probably all that might be worth trading today.
- In the Forex market, the British Pound has been the strongest major currency since the Tokyo open today, while the Australian has been the weakest. However, the numbers are so low as to be effectively negligible.
- There will be releases today of high-impact Flash Services and Manufacturing PMI data in the USA, Germany, the UK, and France.
- The Reserve Bank of Australia will be meeting tomorrow to decide its Cash Rate and to release a Rate Statement. It is widely expected that the RBA will maintain a Cash Rate of 4.35%.
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