The oil price looks optimistic. What are the reasons?
Gold breaks $1,800!
The US jobless claims are less than expected, and the labor market appears to be on a steady recovery path. In the meantime, the global virus update doesn't leave much room for optimism - developing nations are struggling to provide enough beds to infected people. Moreover, the relations between the West and China are becoming tenser - as a result, gold is breaking $1,800! What to do now? Don't catch the flying knife: wait for a correction!
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.