Markets Assess US-China meeting

Markets Assess US-China meeting

Latest news

  • Hong Kong’s HK 50 index rose and the Chinese yuan edged up as traders assess the outcome of the first virtual meeting between US President Joe Biden and Chinese leader Xi Jinping. They aimed to ease US-China tensions while still downplayed expectations for any significant breakthroughs.
  • The main focus will be on the US Retail Sales which will be out today at 15:30 GMT+2 (MetaTrader time). Analysts expect monthly Retail Sales to increase almost twice since the previous report. If the actual numbers are better than expected, the USD may rise.
  • Oil moved up as investors await Biden to tap crude reserves. Gold pushed higher, while Bitcoin slipped to trade around $61,000.
  • As for stocks, Elon Musk exercised options and sold more Tesla shares. The stock keeps falling. Besides, Walmart will announce its quarterly results.

Tech outlook

EUR/USD is moving inside the descending channel. It has taken a breath at the start of the day after falling for four days in a row. It may retrace to the psychological mark of 1.1400, but then the downtrend should continue. The nearest support level is at 1.1350. If it breaks it, the pair may fall to the 1.1300 support – the level unseen since mid-July 2020.

EURUSDDaily.png

Gold keeps rising. It has approached the 50% Fibonacci level of $1875 which will be hard to cross. The long tails of the last candles signal that the metal is exposed to fall to the $1850 support level. On the flip side, if the uptrend continues and gold surges above the 50% Fibonacci level of $1875, the way to the psychological mark of $1900 will be open.

XAUUSDDaily.png

LOG IN

Similar

News for The Week
News for The Week

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

Latest news

The US Dollar Is Correcting
The US Dollar Is Correcting

Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?

Bearish Signal For The USD
Bearish Signal For The USD

XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!

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