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The gold price on Friday plummeted to a new 5-week low of about $2,311 following the latest round of US data. The XAU/USD appears to be trading within a sharply descending channel formation in the 60-minute chart. Gold has now descended to trade several levels below the 100-hour moving average line. As a result, the yellow metal has fallen into the oversold ...
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Further reductions of European Central Bank borrowing costs may risk a stronger impact on the euro exchange rate and inflation, according to Governing Council member Robert Holzmann. “If the original assumption of three rate cuts were to materialize, and the Federal Reserve didn’t respond, it would certainly have an impact on the exchange rate, and with it ...