Seoul shares ended sharply higher after data showed South Korea’s government spending surge helped the economy post its fastest quarterly growth in more than two years.
The Bank of Canada and the Loonie are in focus, with economic data on the lighter side elsewhere…
It’s a relatively bullish start to the day for the pack. A Bitcoin move through to $8,800 levels would signal a breakout…
Reuters reported that oil producers led by Saudi Arabia and Russia reached a deal in principle on Thursday to cut output by an extra 500,000 barrels a day in the first quarter of 2020 but stopped short of pledging action beyond March.
Prices break down and are poised to test 4-year lows
While I spend many hours a day scouring through Forex charts, the charts related to these two markets have caught my eye.
Given the ongoing trade issues, the political drama in Washington, the Fed’s multiple moves and geopolitical uncertainties, the one constant this year underpinning stocks has been corporate earnings results.
What traders could be waiting for is Trump’s response. Will he defy his promise to Chinese President Xi Jinping, or will he remain silent? It’s highly unusual for Trump to remain silent for too long especially when a foreign country threatens the U.S. with “strong countermeasures.”
One group like Fed Chair Jerome Powell believes the outlook is generally positive. Another believes the U.S. economy needs even easier policy to avoid sinking into a recession. Still a third group believes the Fed has gone far enough or even a little too far in trying to revitalize the
If Trump moves forward with the tariffs on October 15 then this will complicate matters since it will indicate that both sides are still far apart and Trump feels China needs to continue to feel pressure in order to finish a deal in a timely manner.
Award winning broker HotForex this year celebrates its ten year anniversary, after a decade in which it has become a firmly established market leader with many prestigious awards and the trust of millions of traders.
![Metals such as gold and silver were trading negative on Friday on a mix of improving market sentiment and a profit booking movement ahead of the weekend. However, both metals reacted to the upside following the weaker than expected nonfarm payrolls data published today. The same story happened with palladium and platinum that are now recovering positions. Copper is extending its already daily gain. U.S. job market extends its weak note The United States created 130K new jobs in August, well below the 158K expected by market and the previous data of 159K. The last month was revised 5K down from 164K. On the other hand, the wages growth rose 3.2% in August, above the 3.1% expected by the market. However, the number is a slowdown from July's revised 3.3% data. The unemployment rate remained at 3.7% another month, while the participation rate of the labor force rose to 63.2% in August from 63.0% in the previous month. Gold recovers almost all losses after NFP [caption id="attachment_598622" align="alignnone" width="1713"] XAUUSD 1-hour chart Gold September 6[/caption] Gold reacted positively after the weak nonfarm payrolls data in the U.S. and it is recovering almost all its daily losses. Early in the day, the metal broke below the 1,520 area and fell to test the 1,500 critical level, but after the employment report, it jumped to be traded at 1,517. Currently, the unit is trading 0.16% negative on the day at 1,516. On the week, the metal is ready to close its second negative week in a row as the unit has not been able to break above the 1,550 area. XAU/USD needs a run above the 1,527 to close positive on the period. Meanwhile, it is posting a 0.30% weekly decline. Silver turns positive after NFP [caption id="attachment_598623" align="alignnone" width="1713"] XAGUSD 1-hour chart Silver September 6[/caption] Silver just exploded after the nonfarm payrolls data on Friday and recovered all its previous daily losses to turn positive on the day at 18.65. Previously in the day, silver was trading down amid improved risk sentiment and profit-taking ahead of the weekend. XAG/USD fell from the 18.60 area to trade at 18.00, its lowest level since August 27. However, the U.S. employment report ignited the pair and sent it back to 18.70, where it is trading right now with a 0.35% daily gain. On the week, silver is ready to close its fifth positive week in a row, thought the unit is trading well below weekly highs at 19.50. Copper negative after testing the 2.6400 are [caption id="attachment_598624" align="alignnone" width="1713"] XCUUSD 1-hour chart Copper September 6[/caption] Copper is trading negative on Friday as investors are closing positions around the 2.6400 area before the weekend. After testing the 2.6420 level, its highest price in over a month, XCU/USD is currently moving 0.25% at 2.6180. XCU/USD is ready to close its second positive week. The base metal is posting a 3.10% weekly gain right now. It would be its best week in over six months.](https://responsive.fxempire.com/cover/60x40/foil1/_fxempire_/2019/09/Gold-And-Silver.jpg)
