Daily Market Forecast – Trade War Threats Weigh on Markets

Wall Street surged and bonds erased gains as investors ignored Trump’s trade war concerns and protectionism theme.

USD/JPY – Yen depreciate on risk adverse theme

The Japanese Yen lost its safe-haven asset title yesterday as market sell-off fear evaporates. The U.S.  Dollar Japanese Yen, the major currency pair is in the spotlight and is expected to test the 108 key resistance level during the trading week.

Gold – precious metal in a crossroad

Gold surged yesterday in early trading straight to its short-term key resistance level just below the 1,228 mark. However, the U.S. session traders pushed the precious metal back to its support region around the 1,320 mark. The expected main trading range bound for today is between 1, 315 and 1,325.

S&P500 – Back to all-time highs?

Wall Street surged and bonds erased gains as investors ignored Trump’s trade war concerns and protectionism theme. The S&P500 finds support and with lack of geopolitical threats is set to move towards its all-time highs.

Yaron Mazor is a senior analyst at SuperTraderTV.

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