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On Wednesday, gold prices managed to tack on in Asia. At the same time, the evergreen buck stood still due to the fact a great number of market participants closely watched everlasting US-China trade clashes.
As a matter of fact, by 1:44 AM ET December delivery gold futures headed north by up to 0.1% coming up with an outcome of $1,224.4 a troy ounce.
On Tuesday, another round of US-China trade escalation took place because on Tuesday a 53-page report was published. In this document, US Trade Representative Robert Lighthizer officially accused the Asian country of a state-backed campaign of technology and intellectual property theft.
The US statesman pointed out that China hasn’t changed its policies, practices as well as acts having to do with intellectual property, technology transfer and also innovation. What’s more, China has taken a number of unreasonable actions for the last time, the statesman added.
Moreover, market participants will probably switch their attention to the G20 leaders' summit expected to be held later this month in Argentina. Exactly at this event, American leader is anticipated to meet with his Chinese rival Xi Jinping.
Evaluating the purchasing potential of the evergreen buck against its primary peers the USD index inched down by nearly 0.03% ending up with 96.67.
As for trading volumes, they’re generally anticipated to stay subdued ahead of the Thanksgiving holiday in the United States on Thursday.
The gains on the 10-year American Treasuries rebounded from Tuesday’s seven-week minimums, heading north by up to 3.081%.
The evergreen buck soared versus the Japanese yen. The currency pair USD/JPY hit 112.83 having tumbled to a three-week minimum of 112.29 on Tuesday.
As for the common currency, it leapt. The currency pair EUR/USD added 0.25% trading at 1.1398 having dived by 0.71% in the previous trading session.
This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
For a long time, traders considered American Non-farm Payrolls (NFP) the most important release in the market. However, the situation has changed. Now US CPI moves financial markets.
United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on November 5, 14:30 GMT+2.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
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