Market updates on September 5

Market updates on September 5

Forex

The British pound keeps gaining on the Brexit updates. The Parliament passed the legislation both to block a hard no-deal Brexit and a general election. 

GBPUSD has crossed the resistance at 1.2290. 50-day MA may become an additional barrier. If 50-day MA is broken, consider 1.2367 as the next target.

If the pair rebounds, look at 1.2216 and 1.2170.

GBPUSDDaily.png

Commodities

Gold turned down on the risk-on sentiment.

After newly imposed bilateral tariffs and the series of failed attempts to agree on the September talks, any positive sign in the Sino-American trade war improves the market sentiment. Parties announced a fresh round of talks in October. Moreover, China confirmed its willingness to achieve progress in the negotiations. As a result, risky assets surged while safe havens moved down. 

Currently, XAUUSD is at highs of 2013. Thus, a small correction is obvious. However, it doesn’t mean that the fall will prolong for a long time. Supports are placed at 1536 and 1519-1525.

XAUUSDDaily.png

Unlike gold,  WTI is pushed by the risk-on sentiment. Nevertheless, risks of the decline exist. Downward pressure will pull WTI to supports at 55.30 and54.25.

Crude oil inventories data is published today at 18:00 MT time. If the release shows a decline in the number of barrels, WTI will move towards the range of 56.80-57.50.

WTI_OilDaily.png

Similar

Latest news

News for The Week
News for The Week

US stock markets started falling, while the US dollar is rising. What to expect from

Deposit with your local payment systems

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!

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