Gold tacks on as Asian stocks decline

Gold tacks on as Asian stocks decline

On Tuesday, gold managed to rally in Asia because stocks eased after reports that America is considering slapping fresh levies on EU goods.

On the Comex exchange, gold headed north by up to 0.1% concluding the trading session at $1,303.55 an ounce.

Besides this, the USD index gauging the purchasing power of the greenback versus a group of other currencies didn’t change, showing 96.613 after data revealed that American factory goods orders were mostly in line with forecasts and did little to soothe fears about a deceleration in the American economy.

Today, stocks as well as other risk assets lost momentum right after the US Trade Representative offered levies against the European Union on various wines and cheeses, fresh passenger helicopters, ski-suits as well as certain motorcycles

The move appears to be retaliation for over $11 billion worth of damage from European subsidies to Airbus, a counterpart of Boeing that the WTO told has repeatedly provoked negative effects to America.

Investors are also closely watching development in the conflicts in Libya because more geopolitical flash-points in the Middle East could potentially affect risk assets and also spur demand in the yellow metal.

Meanwhile, on Tuesday, UK Prime Minister Theresa May is going to meet German Chancellor Angela Merkel as well as French President Emmanuel Macron ahead of heading to the European summit the next day to ask for another Brexit delay.

On the China-US trade front, statesmen from the two sides are going to proceed with their talks this week after the last two rounds finished in Washington and Beijing earlier this month.

Similar

Russian Oil Got Banned from Market
Russian Oil Got Banned from Market

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?

Something more Important than NFP
Something more Important than NFP

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.    

Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

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

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera