ONLINE FOREX BROKER
On Friday, gold dipped due to the fact the evergreen buck slumped, while American trade duties against China came true.
August delivery gold futures dived by 0.21% on the Comex exchange showing a reading of $1,256.20 a troy ounce.
On Friday, American duties on $34 billion worth of Chinese goods finally came true, with extra duties on another $16 billion anticipated to go into effect within two weeks. Additionally, American leader Donald Trump has issued instructions to identify another $300 billion in probable China’s products.
Earlier China told that it would respond with duties on about $34 billion of American products, including agricultural stuff, crude imports as well as auto parts.
The number one precious commodity was also suppressed by the Fed’s worries as for the trade conflict, as follows from last policy meeting’s minutes in June.
The vast majority of Fed policymakers stressed that uncertainty along with risks having to do with trade policy had soared and they were also concerned that such risks and uncertainty eventually could have adverse effects.
At the same time, the evergreen buck turned out to be lower. The number one precious metal usually goes up as the greenback dips. It’s because the most popular precious commodity is denominated in the American currency. Therefore, it’s very sensitive to any ups and downs in the value of the greenback.
The USD index, gauging the greenback’s purchasing potential versus a group of six key currencies, headed south by up to 0.14% being worth 94.00.
Bullion gets more costly for investors, holding other currencies when the US currency leaps and more affordable when it dives.
Besides this, silver futures dived by 0.17% hitting $16.070 a troy ounce. As for other precious commodities, platinum futures rallied by about 0.25% showing $843.50.
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.
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.
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
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.
|
