Dovish remarks from Federal Reserve speakers have underpinned equities and gold while weighing on the dollar, according to IG. Fed governor Waller added to that tone, following earlier contrasts with comments linked to Warsh, and the mixed messaging has kept markets attentive. For now, the balance of recent data is described as leaning towards the dovish case, but near-term direction is framed as dependent on macro releases.
Upcoming Data Releases In Focus
Attention is on tomorrow’s payrolls report and next Friday’s inflation readings. Gold retraced earlier weakness to return to Monday’s levels after briefly dipping below $4,300 yesterday, while bitcoin also recovered, trading back near $80,000. The dollar is characterised as being in a renewed downtrend, with payrolls data seen as a potential catalyst for further moves.
