Gold prices accelerated as tensions in the Middle East increased following yesterday’s attack on two oil tankers in the Gulf of Oman which lies at the entrance of the Persian Gulf. Roughly 40% of the planet’s seaborne oil traverse this area. The US was quick to blame Iran for the attacks while Iran denies any involvement. US Secretary of State Pompeo read a short statement which blamed Iran, offered no evidence and didn’t take any questions. Will the spike in Gold prices and Middle East tensions impact your online forex trading? Both tankers...
With the trade war between the US and China intensifying and the likelihood of an escalation at the end of this month on the rise, how will the US Fed act on interest rates? The US Dollar is expected to remain under pressure and forex traders will take a close look at today’s Import and Export Price Index. Economists predict that price increases as a result of tariffs has largely been absorbed by companies, but will this trend continue? Which impact will initial jobless claims have on price action? Forex trading for beginners can often be...
Inflationary expectations in Australia decrease for June, but this morning’s attention was solely on the employment report for May. The headline figure came in strong on the back of part-time job creation while full-time positions posted a small increase. The unemployment rate remained unchanged at 5.2%, but the labor force participation rate increased. The Australian Dollar accelerated to the downside and back into strong support levels with technical indicators flashing extreme oversold conditions. Will bulls step in and push the Australian...
Today is expected to be a relatively busy day for the euro. The final inflation data for May in Spain and France will be published in the first half of the day. In addition, the ECB President Draghi plans to speak after the publication of data on inflation in Spain. Investors are concerned primarily with whether Draghi will strike a blow at the euro with his comments, thus reversing the last Thursday’s growth of the single currency. Meanwhile, on the eve, the EURUSD pair briefly came under pressure after the tweet of US President Donald Trump...
Following yesterday’s latest recession signal provided by the Sentix Investor Confidence Index, forex traders received credit card data out of New Zealand which showed a monthly decrease in spending. The New Zealand Dollar remains well supported in the short-term. Chinese consumer prices rose as food prices accelerated to the upside. Forex traders appear to be content with more tariff threats out of the US towards China and are in a holding pattern until the conclusion of the G-20 summit in Japan at the end of the month. Forex trading...
