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On Monday, gold sank in Asia because the evergreen buck gained and the common currency dipped market participants digested the implications of the shocking referendum on Catalonia independence in Spain on the euro zone as well as a sentiment poll out of Japan in a thin trading day with China's financial markets unavailable for the week.
The number one precious commodity is traditionally priced in US dollars, thus making it less affordable in other currencies when the US currency gains.
Meanwhile, the Bank of Japan issued its Tankan survey for the third quarter with market participants closely watching the large manufacturers index as it added to 22 versus an expected outcome of 18.
This week, Fed Chair Janet Yellen’ comments are going to bring further clues on the timing of the next rate lift along with Friday’s American jobs report.
On Wednesday, traders are going to look ahead to remarks by ECB Governor Mario Draghi.
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…
Great Britain will publish the Inflation Rate on October 20, at 09:00 MT time (GMT+3).
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
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