Observing news today one can easily get disappointed. However, things are getting better.
Gold edges up on Fed policy
On Thursday, market participants took advantage of more confusion regarding Fed policy on rates and also took the precious commodity higher in Asia, following minutes issued overnight, which casts some doubt on a third lift in 2017.
December delivery gold futures headed north 0.80% in New York reaching $1,293.21 a troy ounce.
Fed minutes demonstrated a surging debate as for another rate lift in 2017. Additionally, the political backlash against Donald Trump's statement on a racist conflict in the USA applied pressure too.
The divide arose in minutes issued from the Fed’s July gathering, when the US key financial institution decided to hold the target rate within a range of 1%-1.25%. The summary pictures views that inflation will undoubtedly meet the Fed's 2% objective, though it’s clearly not there yet.
Overnight, the precious commodity turned positive, on the back of weaker American housing reports. Housing starts sank 4.8% hitting a seasonally adjusted annual rate of about 1.16 million units, as the Commerce Department informed on Wednesday.
XAU/USD reversed down from the $1,700 area and dropped to $1,586 on March 12.
Oil market crashed after OPEC+ didn’t agree on production cuts. What’s next? Let’s see what bank analysts have to say about this.
WTI was at $20 per barrel just in the beginning of the day. Currently - above 25$.
27,000 people became unemployed in private sector
The US Non-farm payrolls, also known as NFP, will be published on April 3, at 15:30 MT time.