The market's pulse:
U.S. macroeconomic data points continue to shine
The U.S. dollar headed for its worst weekly drop this year
The best week for gold since December
Oil demand is bouncing back
Coinbase action
Let's take a closer look at how these and other important events affect currency prices, indices, and commodities.
Gold
MARKET VIEW:
Weekly changes: XAUUSD +2.08%
The XAUUSD finally broke through 1,770 USD due to the declines in the U.S. dollar, which helped spur a broad rally in raw materials.
Since December, gold headed for its best week amid a retreat in U.S. bond yields and news that China may import more of the precious metal one of the top buyers.
KEY POINTS:
Gold is showing signs of breaking out of a plunge following three straight monthly losses. Prices rose above the 50-day moving average, a positive signal for traders who follow chart patterns.
Important levels: 1,744, 1,758, 1,775 and 1,790.
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