Observing news today one can easily get disappointed. However, things are getting better.
Gold heads north in Asia with China CPI ahead
On Monday, gold headed north in Asia with China prices as well as remarks from the Fed Chair later this week to set the overall tone on the greenback.
August delivery gold futures soared 0.11%, trading at $1,211.03%.
On Monday, China is expected to report consumer inflation and producer prices for June with the expected 0.1% dip on-month and also a 1.5% gain observed annually. On year producer prices are supposed to add 5.5%.
In the week ahead, market participants are going to pay attention to Fed Chair Janet Yellen's testimony on monetary policy and American data on retail sales and inflation.
The previous week, gold sank to nearly four-month minimums on Friday after a stronger-than-forecast American jobs report spurred the US currency versus a basket of the other main currencies.
The American economy generated up to 222,000 jobs the previous month as the Labor Department announced, which is more than the 179,000 new jobs expected by financial experts.
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.
US Fed comes right on time with the crisis support program announcement. How does the stock market react?
We could gain from buying emerging-market currencies such as South African rand, Mexican peso and Brazilian real.
Here are the most important topics that will determine the dynamics of currencies, commodities and stocks on Thursday, April 9. N