Online Forex broker
On Friday, gold sank to one-week minimums because positive American employment data gave further support to the evergreen buck, while news of an upcoming gathering between America and North-Korean leaders kept backing risk sentiment.
Gold futures slumped 0.38% hitting $1,317.1 a troy ounce.
Official data uncovered that in February the American economy managed to generate 313,000 jobs, surpassing hopes for 313,000. The unemployment rate was intact sticking to 4.1%, confounding hopes for a further dive to 4.0%.
Apart from that the report disclosed that average hourly earnings tacked on 0.1% in February, ruining hopes for a 0.2% jump.
Judging the greenback’s actual strength versus a basket of six leading currencies, the US dollar index rallied 0.17% being worth 90.27, which is the highest outcome since March 1.
Gold has always demonstrated high sensitivity to any moves in the dollar’s value. As a matter of fact, a stronger greenback makes gold more costly for keepers of foreign currency.
Additionally, market sentiment was spurred after on Thursday Donald Trump announced his readiness to accept an invitation to have a meeting North Korean leader Kim Jong Un in a hope to achieve 100% denuclearization.
Worries over a hypothetical global trade conflict because of American duties on steel and aluminum imports relieved after on Thursday President Trump signed a moderate version of the plan.
The US President imposed 25% duties on steel imports as well as 10% on aluminum. At the same time Mexico and Canada were granted exemptions.
Japan considered this move to be extremely crucial for the countries' close bilateral relationships. However, China found that decision absolutely unacceptable. As for South Korea, it reported its willingness to inform WTO against this move.
Besides this silver futures went down 0.52% on the Comex hitting $16.43 a troy ounce.
What will happen? The Organization of the Petroleum Exporting Countries and 10 additional oil-exporting countries, including Russia, will hold a videoconference on July 1…
Optimistic forecasts on oil prices, nuclear talks with Iran, and upcoming OPEC+ meeting. How to trade oil these days?
Sudden spikes? Yes, please! Gold is above $1,800, finally!
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.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
