Brazil’s central bank chief Roberto Campos Neto on Monday highlighted a “huge” de-anchoring of inflation expectations in the country, adding that it is “very important” to bring inflation back to the 3% target, and policymakers are committed to doing so.
The dollar climbed on Monday, buoyed by a rise in U.S. bond yields, as solid U.S. economic data suggested the Federal Reserve can afford to be patient in cutting rates while investors positioned for the Nov. 5 presidential election.
Oil prices rose on Monday, recouping some of last week’s more than 7% decline, with no let up of fighting in the Middle East and the expectation of retaliatory Israeli attacks on Iran worrying markets about supply from the region.
The analysis focuses on the seven-month inverted expanding triangle, a key technical pattern that has been in place since March of this year without being breached. This pattern of lower highs and lower lows, according to the trader, signals that Bitcoin remains primed for a major move higher to as high as $150,000 per BTC.
Gold Futures for December delivery was up 0.28% or 7.70 to $2,737.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December rose 1.88% or 1.29 to hit $69.98 a barrel, while the December Brent oil contract rose 1.56% or 1.14 to trade at $74.20 a barrel.
