Brief Fundamental:
Seeing the new development between US and China how China is releasing tarrif on some of the US goods showing good strength on USD is expected somehow.
As a safe heaven, Gold is usually where investors run to in trade war crisis, but when there seems to be peace, some buyers begin to sell.
As the trade war seems to be quietening a bit, the Greenback is getting stronger even against the precious yellow metal.
EURUSD is currently dropping hard, I will expect gold to follow suit also.
Later today we expecting some data from the US on Core PPI and Crude Oil inventories.. should the data come out green, I expect a great drop on gold to 1460 Support level.
Goodluck to us!
Seeing the new development between US and China how China is releasing tarrif on some of the US goods showing good strength on USD is expected somehow.
As a safe heaven, Gold is usually where investors run to in trade war crisis, but when there seems to be peace, some buyers begin to sell.
As the trade war seems to be quietening a bit, the Greenback is getting stronger even against the precious yellow metal.
EURUSD is currently dropping hard, I will expect gold to follow suit also.
Later today we expecting some data from the US on Core PPI and Crude Oil inventories.. should the data come out green, I expect a great drop on gold to 1460 Support level.
Goodluck to us!
