Gold and Silver closed higher in futures market on Friday, but still remained close to two-week highs thanks to a weaker US dollar and the Federal Reserve's dovish stance at its latest policy meeting.
Gold rallied in the wake of last Wednesday's less hawkish than expected Fed policy statement, which dampened speculation that the USA central bank would raise interest rates quickly this year. After the "flash crash" in the currency in early-October, the prospect of rising inflation became rather mathematical - and we warned of this by Mr. Mark Carney months-ahead of the Brexit vote when he said a "sharp repricing" in the value of GBP could lead to higher rates of inflation.
The Canadian dollar weakened slightly against its US counterpart on Monday as lower oil prices offset strong trade data and investors weighed the G20's decision to avoid endorsing open trade. Meanwhile, Trump has yet to release details about his plans for the fiscal overhaul, saying that his administration must first tackle health-care reform.
"The market had feared a much more hawkish tone from Fed chief Janet Yellen after strong recent economic data".
- Inflation out of the United Kingdom came-out at 2.3% annualized versus an expectation of 2.1% and a prior read of 1.8%.
Last week, the Fed left its projections for the pace of interest-rate hikes over the coming year essentially unchanged.
No death penalty for alleged cop killer Markeith Loyd
Debra Clayton on January 9 as she tried to capture him more than a week after he allegedly killed his ex-girlfriend, Sade Dixon . After reviewing the findings, she said only then did she conclude she could not and would not pursue death penalty prosecutions.
The euro ticked up to $1.0758, near Friday's six-week high of $1.07825, maintaining its gains made last week after a election defeat for Dutch far-right leader Geert Wilders, which eased broader fears of a populist drift in European politics.
Dollar trends and developments surrounding risk appetite will continue to be watched closely in the short term with the French Presidential election TV debate also monitored later on Monday.
"I'm still quite confident that U.S. protectionist policies will do more harm than good". Weaker copper prices failed to dampen the Aussie's gains as focus remains on USA dollar weakness.
The greenback, down 0.16c to $1.2412 against the pound, fell for a fourth day running against a basket of global currencies, the longest losing streak since early November.
MSCI's broadest index of Asia-Pacific shares outside Japan rose nearly 0.4 percent to hit its highest level in more than two years on Monday. It has risen 2.0 percent since the Fed's policy meeting last week. Oil prices fell as investors continue to grapple with worries about growing US oil output and high inventories.