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Gold Softens Amid Dollar's Strength and Anticipation for Major Events

Gold Softens Amid Dollar's Strength and Anticipation for Major Events
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  1. Gold

    Gold

    Gold is softening as the dollar catches a small bid following a slight US PMI outperformance to what we saw in Europe.  Gold isn’t going to have a major move until we either get a major earnings update that moves sentiment or until we get to the FOMC decision.  Gold looks like it might be poised to consolidate between the $1950 and $1970 zone.

     

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    Ed Moya

    Ed Moya

    With more than 20 years’ trading experience, Ed Moya is a senior market analyst with OANDA, producing up-to-the-minute intermarket analysis, coverage of geopolitical events, central bank policies and market reaction to corporate news. His particular expertise lies across a wide range of asset classes including FX, commodities, fixed income, stocks and cryptocurrencies. Over the course of his career, Ed has worked with some of the leading forex brokerages, research teams and news departments on Wall Street including Global Forex Trading, FX Solutions and Trading Advantage. Most recently he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news. Based in New York, Ed is a regular guest on several major financial television networks including CNBC, Bloomberg TV, Yahoo! Finance Live, Fox Business and Sky TV. His views are trusted by the world’s most renowned global newswires including Reuters, Bloomberg and the Associated Press, and he is regularly quoted in leading publications such as MSN, MarketWatch, Forbes, Breitbart, The New York Times and The Wall Street Journal. Ed holds a BA in Economics from Rutgers University.


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