While risk appetite sounds back, the dollar slipped a bit. Gold price returned to the $1880 mark area as investors seek for another haven before the “first debate”. Democrat Joe Biden and Republican Donald Trump will square off later in the day (Wednesday 0900 GMT+8). It should be alerted that any wording from Trump and Biden may spark shocks.
The economic data from the US housing were outstanding over the recent weeks, even under the doubtful recovery situation. On Thursday, it may be the main reason for “bottom fishing”, pushing up the three major indexes. ZFX analyst Jacob Leung said that, of course it may be showing the buying interest, but technically speaking, the trends were still bearish. The retracement of the dollar was limited, made a “Doji” alike, meaning that the sentiment was just still cautious. The market is also closely watching the negotiations of the US Congress. It is reported that Democrats in the House of Representatives are preparing a draft of a relief bill of up to $2.4 trillion, which to some extent propped up the sentiment.