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(Wallace Refiners) – Gold and silver are in a positive position at the end of the week. Gold is trading 0.36% higher while silver has moved just above flat. In terms of some technical levels for the yellow metal the previous wave high at $1755.50/oz is the one to watch as a break there could lead to some more positive action.
Although it is Good Friday (public holiday) in most nations Japanese and Chinese markets remained open. The Nikkei 225 had a great session rising around 1.58% while the Shanghai Composite traded just 0.36% higher.
In FX markets, there was some weakness in the greenback as the dollar index fell 0.07% and the best performing pair was NZD/USD which rose 0.22%.
Obviously, news flow was light but here are some of the major headlines:
OPEC+ expressed growing confidence in the global economic recovery by agreeing to increase oil production gradually in the coming months.
OPEC+ ministers agreed on a phased relaxation of output restraints that will deliver some 2.1 million barrels per day of additional oil to the market through July.
Vaccine passports in the UK are all but confirmed as U.K PM Boris Johnson says travel documents ‘definitely’ needed.
China increased its holdings of U.S. Treasuries to $1.095 trillion in January, up from $1.054 trillion in October.
Iran, China and EU are set to discuss a return to the previous nuclear deal.
Looking ahead to the rest of the session the main highlight will be the US NFP jobs report. Fed’s Bostic is also due to be giving some comments.
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