EURUSD fell over 100 pips in an hour after German PMI came out the lowest in 6 and a half year.
The dollar was directly affected and gained close to 60 pips.
Many other major pairs were also caught in it, all of them showing a sign of weakening against the dollar in that hour.
However, there's one that diverged from such movement. The gold fell at first but did not break a new low and pulled back, and subsequently, it continues to climb higher.
In an environment where all central banks are reluctant to raise rate and some having the intention to cut rate instead, as well as all the poor economic data and all the political issue going on such as the Brexit and the US-China trade war and many others...there's very little reason that the gold can be held back from appreciation no more, are there?
The dollar was directly affected and gained close to 60 pips.
Many other major pairs were also caught in it, all of them showing a sign of weakening against the dollar in that hour.
However, there's one that diverged from such movement. The gold fell at first but did not break a new low and pulled back, and subsequently, it continues to climb higher.
In an environment where all central banks are reluctant to raise rate and some having the intention to cut rate instead, as well as all the poor economic data and all the political issue going on such as the Brexit and the US-China trade war and many others...there's very little reason that the gold can be held back from appreciation no more, are there?
