The US Payrolls Bring New Hope for Gold
The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).
Gold adds in Asia on political risk worries
On Wednesday, gold rallied in Asia because increased political risk regionally and in the USA and Great Britain underpinned the number one precious metal.
In New York, February delivery gold futures grew 0.21% demonstrating an outcome of $1,267.50 a troy ounce.
On Wednesday, US B1 bombers are expected to fly over the Korean peninsula as part of a scheduled military exercises to withstand Pyongyang. The week-long drills burst out just a week after North Korea dared to test what it labeled as the most advanced ICBM and also warned that the exercises would get the Korean peninsula closer to the fierce nuclear war.
Overnight, gold dived to six-week minimums because the greenback kept strengthening on the back of recent investor optimism as for the anticipated tax reform.
Gold declined because bullish sentiment in risk markets was strengthening amid rallying investor hopes that the Senate as well as House of Representatives will have their respective bills reconciled, thus ensuring that the final bill will come to Donald Trump for the official approval before year-end.
Similar
The OPEC Meeting May Push Oil to $150
The Organization of Petroleum Exporting Countries will hold a meeting on June 2.
Russian Oil Got Banned from Market
This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
Latest news
Assets Won’t Survive This Week
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Post-Fed Releases for USD & CAD Traders
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
FED and BOE Make Another Attempt to Beat Inflation
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
