Gold, Crude Oil, Geopolitical Tensions, US Dollar, Fed, China GDP –


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It was a volatile week for certain corners of financial markets over the past few trading sessions. All eyes were on gold and crude oil prices. XAU/USD rallied almost 5.5 percent, marking the best 5-day period since the middle of March. Meanwhile, crude oil prices soared almost 6 percent in the best weekly gains since the end of August.

Turmoil in the Middle East in the aftermath of Hamas’s attack on Israel fueled oil supply disruption woes with respect to potential geopolitical volatility around Iran. Meanwhile, cautious Fedspeak helped cool government bond yields. The latter offered support to gold prices, which are very sensitive to Treasury yields and the Federal Reserve.

Focusing on currencies, the sentiment-linked New Zealand and Australian Dollar underperformed against the US Dollar amid a deterioration in global stock markets heading into the end of last week. While the S&P 500 and Nasdaq 100 started off the week strong, most of the gains were reversed heading into the weekend.

Looking at the week ahead, there are a few notable event risks. Fed Chair Jerome Powell will be speaking on Thursday and his language will be in focus given the somewhat cautious Fedspeak of late. Elsewhere, China will be releasing the latest GDP figures. All eyes will be on a slowing in growth. The UK will release employment figures while Canada reports inflation. What else is in store for financial markets in the week ahead?

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How Markets Performed – Week of 10/9

How Markets Performed – Week of 10/9


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— Article Body Written by Daniel Dubrovsky, Contributing Senior Strategist for

— Individual Articles Composed by DailyFX Team Members


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