The precious complex is moving higher in early morning trading after a
sharp sell-off to end last week. The downward momentum across the
financial landscape, that was apparent through much of last week, was
finally too much to bear on Friday
and investors took the opportunity to lock in profits/cut losses and
hit the sidelines in preparation for tomorrows U.S. Presidential
Election. The Institute for Supply Management will report its
service-sector index and more corporate earnings are on tap
for the day but none of it really matters as investors are in
wait-and-see mode at the moment. After the decision of who will be
Commander-in-Chief for the next 4 years, the next big question will
surround the “Fiscal Cliff” that is fast approaching. Expect
thin trading conditions both today and tomorrow, which could lead to
some volatility in the markets. However, until the results of the
election are clear we shouldn’t see any significant movement in either
direction. Have a great day!
No comments:
Post a Comment