Analyst: “When something has been consolidating for so long, the breakout can be quite explosive as stops are triggered and longs initiated. I feel it may be a combination of the jobless claims catalyst and technical factors here.”
The more likely alternative this time around — much like policies adopted after World War II — will be for central banks to keep the cost of those debts manageable.
Fed Chair Powell’s comments sent investors moving to the relative safety of the greenback, with the dollar index rising to a near three-week high, while U.S. stocks posted their biggest two-day fall in more than three weeks.
U.N. report: “The world economy is expected to lose nearly $8.5 trillion in output in 2020 and 2021, nearly wiping out the cumulative output gains of the previous four years.”
Analyst: “We expect interest rates globally to remain low, and negative in some countries, and that continues to provide a favorable backdrop for gold.”
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