Gold up Greenback strong

Analisi Giornaliera - 03/04/2020

Stimulus and its effect on USD

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Long before the inflation that will likely arise from government spending all over the world, the world’s reserve currency, the greenback, in which most goods and services that cross the globe are denominated strengthens against other currencies because it is considered a safe currency. Once the magnitude of the debts being incurred for this virus support plan becomes understood, the currency will likely devalue (inflation = devaluation). USNDX is up today to 100.645, up 5.27% since Mar 20

Gold strengthens


Gold is moving up, trading at 1615.04, gaining 11.15% since mid-March. Gold is unlikely to fall as the weight of the demand caused by all of the dollars about to enter circulation chase the dwindling amount of resources available to meet that demand. This is the usual cause of price inflation and the rise in gold signals the onset of that inflation.

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Rand loses ground


The Rand loses strength at a 22.04% rate since March 20. The emerging markets will face more extreme consequences of covid-19 because they have fewer resources to use. Their hope rests on their youth. Demographics may be their ace in the hole replacing the wealth the North uses to blunt the pandemic.

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Oil surges


Oil Rallies on the mere talk of some kind of truce within OPEC+. The US president has hinted that a solution to the collapse of oil price ought to be found. It is in the interest of the US no lees as the world’s largest producer, to raise prices. Crude trades on the Nymex currently at $26.23, a gain of over 32% on this week alone.

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