News Snapshot:
The USD continues to rally versus G10 currencies, following weaker-than-expected US core CPI for September that illustrates the lack of broad-based inflationary pressure and the need for fiscal stimulus. That’s providing a dreaded double negative for gold investors this morning in the form of a stronger US dollar and tepid inflation. In addition, the pricing of election risk has not been drawn forward – unless you squint hard. Despite reports of widening election polls, there’s not sufficiently strong evidence to suggest markets are now pricing in a faster resolution as the VIX is holding onto the post-election risk premium. Asia...
