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'Death Cross' strikes U.S. dollar as virus cases grow
By Saqib Iqbal Ahmed
Wednesday, July 8, 2020
NEW YORK -- A resurgent coronavirus pandemic in the United States and the prospect of improving growth abroad are souring some investors on the dollar, threatening a years-long rally in the currency.
The dollar index is off 6% from its recent highs, while net bets against the currency in futures markets stand near their highest level since 2018.
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Enduro Metals Reports Drill Intercept Cut
144 metres of 3.18 g/t Gold; Identifies
Additional Gold Targets at Newmont Lake
in British Columbia's Golden Triangle
Monday, July 6, 2020
KELOWNA, British Columbia Canada -- Enduro Metals Corp. (TSXV: ENDR; OTC: SIOCF; FSE: SOG-FF), formerly Crystal Lake Mining, is pleased to report drill results as part of the ongoing exploration program on the company's 551-square-kilometer Newmont Lake Project in the heart of British Columbia's Golden Triangle.
These results are from previously unsampled drill core by a previous operator whose focus was on narrow high-grade intersects, with the result that only a portion of the core was previously sampled. Infrastructure in the region has greatly improved, including power and road access now within 16 kilometers, leading to a dramatic change in the approach to exploration and potential development at Newmont Lake.
An ongoing comprehensive technical review of the project recently identified three gold mineralization styles associated with the 20-kilometer-long McLymont Fault, one of multiple target areas within the Newmont Lake Project. The study determined that previous operators did not identify all gold mineralization styles, and as a result only 19 percent of the total drill core has been assayed to date. ...
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A decline in the dollar earlier this week set off a technical formation known as a "Death Cross," which occurs when the 50-day moving average crosses below the 200-day moving average, according to analysts at BofA Global Research.
Past occurrences of the Death Cross have been followed by a period of dollar weakness eight out of nine times since 1980 when the 200-day moving average has been declining, as it is now, analysts at the bank said.
The U.S. currency's weakness comes amid criticism over the government's response to the coronavirus pandemic and protests over racial inequality that has eroded support for President Donald Trump months before the Nov. 3 presidential election. At the same time, investors increasingly expect growth to accelerate in Europe, threatening to narrow an economic performance gap that has boosted the dollar for years. ...
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