US Bullet Report | Roller coaster ride on GOLD

  • The JPY continues to have a quiet week, as USDJPY trades at 112.30 in the European session. The currency has enjoyed a spectacular month of February, surging 8 percent against the greenback however since yesterday it is showing weakness. USDJPY trades at 113 almost from 111 yesterday.
  • US stocks opened slightly higher shrugging off Chinas sinking index which dropped -6% overnight. European indices opened lower, only to recover and trade over 1% now.
  • GBPUSD managed to recover from 7 year lows yesterday, bouncing from 1.3877 yesterday to almost 1.40. The Cable trades at 1.3915 now.
  • Gold is having a rollercoaster ride as the positive/negative sentiment in stocks is shifting direction quite frequently today. GOLD moves opposite from Stocks so the metal is hovering around $1230 however there are +/- $10 swings quite often.
  • A surprisingly strong reading on January US durable goods orders lifted the USD. The biggest move was against the euro which dropped briefly below 1.10 to 1.0985 from 1.1040.
  • OIL is also feeling the pressure once again today after China’s collapse and better than expected US durable goods data. Oil is trading at 31.45 after hitting $34 last week.

Report prepared by Nicolas Shamtanis.

The post US Bullet Report | Roller coaster ride on GOLD appeared first on Forex.Info.

Source:: US Bullet Report | Roller coaster ride on GOLD

About the Author
With over a decade of trading expertise and 100,000 fulfilled clients in 160 countries worldwide, easyMarkets will tick all your boxes whether you are a new or experienced trader, affiliate or introducing broker. [space height="20"] Trade 300+ markets including currencies, commodities, metals, vanilla options and indices from one place without the jargon, complicated offers and confusing terms! [space height="20"] Welcome to the exciting world of trading. Welcome to easyMarkets.

Related Posts

Leave a Reply