With US markets at all-time highs, forex traders will start the new trading week with a light economic calendar. Trade concerns have eased slightly, but remain far from being resolved. This morning’s Singapore trade data showed an unexpected monthly contraction in non-oil exports which served as a reminder that global trade remains weak. Gold has ended its strong sell-off as bulls rushed back into this precious metal. How will price action develop during today’s session? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

The bulk of economic data was released during the Asian trading session while a pair of ECB speeches are scheduled during the European trading session. Traders will get the US NAHB Housing Market Index, but the focus will remain on US-China trade developments. Markets have moved on any announcement of progress, even if no real progress has been achieved. Will Gold continue to rally or are bears going to reverse the current move higher? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair.