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Gold: sees strong support around $1765 – Standard Chartered

FXStreet reports that analysts at Standard Chartered see strong support for the yellow metal at $1765.

“Bond yields are unlikely to drive further gains in gold. The Fed will likely welcome the rise in inflation expectations under its Average Inflation Targeting framework. This means a further rise in real yields could be harder to come by.”

“While USD has been resilient in recent weeks, a resolutely accommodative Fed in the face of rising growth and inflation expectations is likely to be negative for the USD over the next 6-12 months. This can be a positive driver for gold, helping it still deliver absolute gains.”

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19:02 26.02.2021

ECB's Governing Council member Stournaras says there is currently an unwarranted tightening of bond yields

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18:40 26.02.2021

U.S.: Personal income surges and spending rebounds - TD Bank Financial Group

According to ActionForex, analysts at TD Bank Financial Group note personal income surged by 10% in January, while personal spending rose by 2.4%, and sugget another round of income support measures proposed in the American Rescue Plan combined with sizeable household savings should spur spending on activities put on hold during the pandemic."Personal income surged by 10% month-on-month in January, on par with market expectations. The strength was largely due to the increase in social benefits (