Forex. Gold exchange rate forecast for today
A new wave of strengthening of the US dollar forced bank metals to roll back to the price levels of September.
Signals from foreign markets also do not please investors. Euro zone government bond yields declined on Monday due to new coronavirus restrictions in Europe, which weakened investors' appetite for risk. According to media reports, tens of thousands of people turned out to protest in Vienna after the Austrian government announced a new lockdown. At the same time, German politicians are discussing the possibility of mandatory vaccination against coronavirus and lockdown for unvaccinated people against the background of a rapid increase in the number of cases of infection and low vaccination rates.
At yesterday's trading, the US dollar strengthened against the euro and the yen. Demand for the dollar, as well as other assets of the "safe haven", is growing against the background of a new wave of COVID-19 morbidity and the introduction of quarantine restrictions in Europe. In addition, the dollar was supported by statements from two representatives of the Federal Reserve System (FRS), who suggested that the regulator could accelerate the winding down of the asset repurchase program.
According to the media, Fed Deputy Chairman Richard Clarida said that he would carefully evaluate the statistical data that will arrive before the December meeting. And the possibility of a faster reduction in the volume of asset repurchases will also be discussed, since the US economy is in a strong state.