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Gold to head higher, but uptrend stalled temporarily – JP Morgan Chase

In the view of the cross-asset fundamental strategy analysts at JP Morgan Chase, gold prices are likely to head higher amid a patient Fed.

Key Quotes:

“The background to their view on gold includes their expectations that the US Federal Reserve is likely on hold for rate hikes well into 2020.

Lower real rates are part of the Fed's strategy to run a hotter economy.

We think gold's uptrend has stalled temporarily rather than ended for the cycle.”

Extra Reading: Gold drops to 2-week low as Asia responds to recent risk-on, 100-day SMA on radar

U.S softens demands for China to reduce state industrial subsidies as condition for trade deal - RTRS sources

News crossing the wires is positive on the trade front with Reuters citing sources which reports that the U.S softens demands for China to reduce stat
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EUR/GBP Technical Analysis: Break of 0.8625 can validate pullback from 9-week old resistanceline

Despite reversing from a two-month old downward sloping trend-line, EUR/GBP couldn’t decline further as an immediate ascending support-line questions sellers.
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