Daily market commentary: The euro is recording some modest gains in relation to the US dollar

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Wednesday-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" style="float: left; margin-right: 5px;" link_thumbnail="" loading="lazy" srcset="https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Wednesday-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Wednesday-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Wednesday-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Wednesday-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Wednesday-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Wednesday-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Wednesday.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><h2>Gold</h2>
<p><a target="_blank" href="https://www.leaprate.com/forex/market-news/daily-market-commentary-stock-benchmarks-opens-without-clear-direction-while-market-volatility-is-on-the-rise/" rel="noopener">Gold prices</a> are flat during early European trading, following Tuesday’s rise which reached the highest level since mid-March. Gold’s gains came as US yields eased down, following the release of US inflation data, which despite reaching a fresh 40-year high, also gave signs that it may have peaked. The markets have been pricing-in the Fed’s new hawkish stance and the prospect of inflation stabilization will reduce the scope for further dollar gains, a scenario that will be positive for gold due to the inverted correlation with the greenback. As the war in Ukraine approaches a new stage, with a Russian offensive expected in the east, gold’s haven appeal could once again increase, creating scope for further gains.</p>
<p><img class="alignnone size-full wp-image-444676" src="https://www.leaprate.com/wp-content/uploads/2022/04/gold8.png" alt="" width="1467" height="816" srcset="https://www.leaprate.com/wp-content/uploads/2022/04/gold8.png 1467w, https://www.leaprate.com/wp-content/uploads/2022/04/gold8-250×139.png 250w, https://www.leaprate.com/wp-content/uploads/2022/04/gold8-700×389.png 700w, https://www.leaprate.com/wp-content/uploads/2022/04/gold8-768×427.png 768w, https://www.leaprate.com/wp-content/uploads/2022/04/gold8-120×67.png 120w, https://www.leaprate.com/wp-content/uploads/2022/04/gold8-245×136.png 245w, https://www.leaprate.com/wp-content/uploads/2022/04/gold8-500×278.png 500w" sizes="(max-width: 1467px) 100vw, 1467px" /></p>
<p><em>Ricardo Evangelista – Senior Analyst, ActivTrades</em></p>
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<p><em>Disclaimer: opinions are personal to the authors and do not reflect the opinions of LeapRate. This is not a trading advice.</em></p>
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<p>The post <a rel="nofollow" href="https://www.leaprate.com/forex/market-news/daily-market-commentary-the-euro-is-recording-some-modest-gains-in-relation-to-the-us-dollar/">Daily market commentary: The euro is recording some modest gains in relation to the US dollar</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>