TD Securities strategists note that money managers sharply increased long Gold exposure as modest inflation, soft United States (US) employment data and expectations that the Federal Reserve (Fed) will not hike rates this year weigh on the US Dollar (USD). Some investors still added shorts as protection, reflecting concern that higher Oil prices and interest rates remain possible given Persian Gulf geopolitical risks.
Specs boost longs on Fed pause hopes
“Speculation the Fed will not pull the trigger on higher interest rates and continued Middle East instability prompted investors to add gold and oil exposure.”
“The combination of modest…
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