FxPro Financial Services Ltd | Mar 01, 2021 05:30AM ET
Buyers have returned to the markets with fresh capital. Last week's most threatening trends had reversed, giving way to a recovery in demand for risk before the situation got out of control.
In the US debt markets, long-term government bond yields are falling, reaching 1.4% for UST10 compared with a peak at 1.61% at some point on Thursday. The rebound in long-term bond purchases is attributed to renewed optimism based on the $1.9 trillion relief package's imminent approval.
However, we cannot ignore macroeconomic data from the US and Europe, which indicates a stronger than expected recovery in business sentiment, an important leading indicator for the economic cycle.
However, only a move above $1770 (Friday's intraday highs) would signal that a recovery is underway: we have seen an increase in gold selling on the rise all through February. This trend could remain in force in March as well.
The FxPro Analyst Team
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