Oil plunged several percent on Thursday. They say, the bullish rally was just too aggressive. Let's trade the dip then!
Gold sags in Asia as risk trade relives
On Monday, gold edged down in Asia because risk trade relieved and market participants waited for more insight on American tax cut plans as well as related Fed policy.
December delivery gold futures dived 0.33% being worth $1,292.1841 in New York.
Meanwhile, copper futures went down 0.36% trading at $3.057 a pound.
The industrial metal has rebounded approximately 6% from the three-year maximums reached in late October, amid worries as for demand from China, the world’s number one consumer. For the year copper has gained more than 20%.
Additionally, China informed that home prices in key country’s cities were still steady as leaps and dips slowed tempo in October amid severe government controls.
Besides this, traders will pay attention to Wednesday’s Fed gathering minutes for new clues on the probable trajectory of monetary policy.
American data on durable goods orders will be monitored too in this holiday-shortened week.
Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!
The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD.
In this article, you'll find the latest news and tech analysis of EUR/USD, gold, and GBP/USD!