Despite the rising number of the coronavirus cases in the United States, traders await an increase in ISM Services PMI and are quite optimistic.
Tag - gold
It’s simply the question of time before gold price gets to the higher levels…
Gold dropped significantly yesterday, while analysts predicted $1 800. Were they wrong?
The market sentiment improved after the positive vaccine experiment. Stocks gained and EUR/USD surged, as well. Traders await the NFP report.
Concerns about the coronavirus clash with hopes of recovery. Traders await the US jobs data. Watch the video to find out what this means for the major pairs!
The day has started with a stronger dollar, as bulls pushed USD/JPY higher.
Investors stay optimistic despite the virus outbreak in the USA and worse-than-expected jobless claims.
During this relatively mild trading session let's look at the moves of USD/JPY, Gold and S&P 500.
XAU/USD rose to the highest levels since 2012. The advance has become stretched and the price may try to correct down.
The USD lost it's value across the board as the market got risk-on mood back; at the same time, gold climbed to $1,770 paving the way to $1,800.
The market sentiment is mixed. New cases of coronavirus decreased in China, but they surged in the USA. Also, US-China tensions weigh on the trading sentiment.
While economies restore capacities, the market is now a hostage of second-wave virus fears. How to use such an environment to make profits?