Online Forex broker
On Wednesday, the yellow metal managed to extend gains for the fourth consecutive day, while other metals are going down. Risk aversion definitely dominated the market against the backdrop of the trade conflict between China and America.
However, on Thursday, other precious metals, including platinum, palladium, silver, and copper are extending losses.
In addition to this, US-China trade-war negotiations, the market is also closely watching the economic calendar, in particular, the CPI in China as the next crucial event on Thursday. What’s more, traders will also wait for the GDP report in Great Britain as well as inflation numbers in American on Friday.
It feels like China has revised a long period of talks between the two leading economies because China backtracked the trade agreement with America, as some sources familiar with the situation uncovered.
A diplomatic cable from the Chinese cabinet with an almost 150-page draft trade pact with amendments, which undermined core American demands came on Friday. In fact, it provoked American leader’s tweet on Sunday.
Eventually, the changes would impact trade secrets, intellectual property, forced technology transfers, currency manipulation, competition policy as well as financial services.
It would make American leader proceed with more levies to China as an attempt to get them back to what both trading partners agreed earlier. Risk aversion pushed the financial markets to safe-haven assets, in particular, the yellow metal.
The yellow metal is benefiting from the risk aversion environment because of the trade war between America and China. Gold is reporting its fourth winning trading day in a row.
As a matter of fact, XAG/USD hit 14.93.
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.
Australia will publish its Inflation Rate on January 25, at 02:30 MT time.
Germany will release the flash Purchasing Managers' Index (PMI) for manufacturing and services industries at 10:30 GMT+2 on January 24.
Leibniz Centre for European Economic Research (ZEW) will release an economic sentiment index for Germany on January 18, 12:00 GMT+2
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.
|
