According to data captured in Charles Schwab’s most recent Trading Services Sentiment Survey, only 10% of traders say they have a bearish outlook for the next three to six months.
The Fed has decided to taper by $10B and has provided a general outline for further asset purchase reductions stating; ‘If incoming information broadly supports the Committee’s expectation of ongoing improvement in labor
According to the technicals that I like to use, the long-term trend in gold is still in play. Fundamentally, COMEX gold futures fell to $1,210/ounce on Dec. 6, 2014 and since then we have seen somewhat of a bounce higher.
The Canadian dollar weakened for a third day before a Federal Reserve rate decision that may see the central bank slow the monetary stimulus that is thought to depress the value of the U.S. currency.