Online Forex broker
On Monday, gold managed to surge, underpinned by the softer evergreen buck as well as escalation in trade tensions between China and America that backed safe haven demand for the number one precious commodity.
June delivery gold futures tacked on 0.6% on the Comex, New York ending up with an outcome of $1,335.3 per troy ounce.
On Monday, China announced that it’s ramping up duties by approximately 25% on certain American imports. That’s an attempt to respond to American duties on imports of steel and aluminum.
The given move powered trade tensions between the world's two leading economies. A great number of investors are afraid that these tensions could evolve into a hazardous trade conflict and give a mighty blow to the world’s economy.
Appreciating the greenback’s value against a group six major currencies, the US dollar index headed south 0.21% offering an outcome of 89.56.
Market participants tend to cling to the most popular precious metal as a store of value when facing times of political or economic uncertainty. Besides this, a weaker evergreen buck makes greenback-denominated commodities more affordable for keepers of other assets.
Trade volumes felt like staying low on Monday with financial markets in Europe unavailable for the Easter holiday, meanwhile American markets were expected to get back after the Good Friday holiday.
Market participants were eager to get actual data from the Institute for Supply Management. To be exact they require American manufacturing index anticipated to show up a bit later in the day.
As for other precious metals, silver futures managed to inch up 1.12% showing an outcome of $16.450 per troy ounce. Platinum futures surged 0.99% offering a result of $941.80.
As for base metals, copper futures ascended 1.21% being worth $3.062 a pound.
United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on October 8, 15:30 GMT+3.
What will happen? Crude oil inventories will be announced at 17:30 MT (GMT+3) on Wednesday, September 29…
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…
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
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.
|
