(23 JUNE 2020)DAILY MARKET BRIEF 2:Gold, on the other hand

<p>The EURUSD rebounded a touch above 1.1160, the critical Fibonacci support, and extended gains to 1.1280 in Asia. Technically, the pair remains in the mid-term bullish trend above this level. Cable tested the 1.25 offers after having dipped at 1.2335 on Monday. Given the emerging hope of seeing a possible Brexit deal by this fall, sterling could make another attempt to its 200-day moving average, if the US dollar remains soft and the risk appetite firm. Gold, on the other hand, consolidates gains near the $1750 per oz and should find little motivation to push further in the absence of a significant deterioration in the global risk sentiment. WTI crude cements support above the $40 per barrel. One major event investors watch this week is the result of US banks’ stress test result to be released on Thursday. With a global economy battered by the Covid-19 pandemic, distressed company debt levels and near zero rates, the bank finances are clearly under pressure – and there is not much the b</p>