President Biden said there will be no tax hikes on high earners or US corporations in a blow to his agenda but a boost to US equities. The dollar fell across the board, with both CNHUSD and XAGUSD posting their 3rd biggest weekly gain of the year.
The week ended with stronger Canada retail sales, mixed PMIs in Europe, with US services surprising on the upside but not the case for manufacturing. Gold jumped more than $30 to 1812, reaching the target of the inverted head-&-shoulders first signalled on Oct 8th to the WhatsApp
Broadcast Group below. More specifically, the GoldBugs ratio fell below its 100 DMA and 21 WMA
as alerted in last week's Youtubevideo.
The subsequent posts show the progress of the trade as well as in XAGUSD. A new Premium trade was posted earlier today.
Heads up for Powell's speech at 11:00 am Eastern (15:00 GMT).