Trade ideas for March 28 - April 1
Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
Rising Cases Of COVID Increase Uncertainty
2020-08-06 • Updated
Midday Market View
European stock markets traded mixed early Thursday, with strong industrial data supporting the German market while the Bank of England kept monetary policy unchanged, offering up a more pessimistic outlook. In Germany, factory orders soared in June, climbing 27.9% data showed earlier Thursday, far above the 10% gain expected. The Bank of England maintained its key interest rate at 0.10% earlier Thursday, and kept its powder dry in terms of additional stimulus.
Midday Key Point
- UK July construction PMI 58.1 vs 57.0 expected.
- Tokyo governor repeats that must think about declaring state of emergency if virus situation worsens.
- China repeats that it will take strong countermeasures as it opposes US-Taiwan meeting.
- Dollar firms a little amid mixed markets in European morning trade.
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Latest news
Gold and the Majors ahead of the NFP
Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.
The Oil Market in the Month of June
Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.
Gold’s Next Move Could Be Huge!
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
