Going Long on Dollar (again)

The focus this week should be on China's reopening plans. Earlier this week, Reuters reported that China is set to announce 10 new COVID-19 management measures as early as Wednesday,” adding that “these supplements the 20 measures unveiled in November that set off a wave of covid-easing steps across the nation. However, we need to pay close attention to city restrictions as well. It remains to be seen whether the unveiling of the Chinese measures of relaxing covid restrictions could help lift risk sentiment. On a positive shift in the market’s risk perception, the United States Dollar could snap its recovery mode and come under renewed selling pressure, paving way for a fresh bounce in Gold price.