Forex. Gold exchange rate forecast for today
A medium-term upward trend has formed. The focus is on a promising target in the area of 1911 dollars. Reliable support in the area of 1830.
The yield on 10-year US Treasury bonds rose slightly on Friday and stopped at 1.570%. Such a pullback says that market participants saw the risks of lower inflation for future reporting periods from the University of Michigan. Meanwhile, the yield of 10-year UK bonds showed a similar situation and settled at 0.9220%.
Trading is influenced by trends and the news background of foreign markets. The Open Market Operations Committee (FOMC) has decided to reduce the asset purchase program by $15 billion per month since November. The Bank of England announced the prospect of a tougher monetary policy. With all this, the UK's GDP and industrial indicators came out worse than forecast.
Meanwhile, the two ECB governors noted that inflation in the eurozone may decline more slowly than previously thought, partly due to ongoing problems in supply chains, but the European Central Bank should not react too quickly by canceling stimulus measures.
Eurozone inflation jumped above 4% in October, more than double the ECB's 2% target. All this against the background of a rapid rise in energy prices and problems with supply chains in the industrial sector.