NEW YORK (MarketWatch) — The U.S. dollar rose against the euro Wednesday after Federal Reserve minutes suggested more willingness among officials to slow its bond buys, at the same time that the European Central Bank is mulling a potential deposit-rate cut into negative territory if more economic stimulus is needed.
The release of the Federal Reserve’s October minutes showed growing momentum among Fed officials to slow the rate of bond purchases, currently set at $85 billion a month. Fed officials considered returning to a calendar date to mark the end of the program and mulled a reduction in purchases before “unambiguous further improvement” was visible in the labor-market outlook.
Meanwhile, the ECB could cut the deposit rate by a smaller-than-usual amount to negative 0.1% from zero currently, according to Bloomberg News, citing people with knowledge of the debate.
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In September 2011 the Gold Bugs index, the HUI stood at 630 as gold prices peaked, since then both have trended lower with the HUI losing about 65% of its value. The bottom has been called a number of times and after such a dramatic decline its difficult not to think that we are there now. However, as we all know the timing of any investment is crucial to its success and that is exactly what we are trying to do here, trying to pick advantageous entry and exit points. If you would like to know which stocks we are buying and selling please join us at ‘Stock Trader’ our premium investment service.
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