
Tesla dropped amid the wider stock sell-off and by that erased all its gains for this year. Is it a good time to buy it or not yet?
Don’t waste your time – keep track of how NFP affects the US dollar!
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A temporary return of risk-off pushed XAU/USD upward after the recent pullback. It has broken through the key resistance level at $1700, that’s why it may continue climbing up further to the next retracement level at $1750. Last Friday gold prices fell dramatically after the surprisingly positive NFP report to the support level at $1680. That encouraging data was a clear signal that economy is recovering. As a result, investors turned to riskier assets that day on an optimistic tone.
Nevertheless, gold prices have gained for two days straight ahead of the Fed statement on June 10 at 21:00 MT time. Gold traders are waiting for guidelines from Jerome Powell, the Head of the Fed. If interest rates are low, gold will gain. It decreases the opportunity cost of holding non-yielding metal. Gold is also likely to be a hedge against inflation. The Fed’s prospect on a future recovery and downside risks will affect gold prices. Stay tuned!
Tesla dropped amid the wider stock sell-off and by that erased all its gains for this year. Is it a good time to buy it or not yet?
NVIDIA is set to release its earnings results after the closing bell on February 24. What to expect?
The Reserve bank of New Zealand holds a meeting on Wednesday at 3:00 MT time.
Ichimoku Kinko Hyo CAD/JPY: The pair is trading above the cloud…
Ichimoku Kinko Hyo EUR/JPY: The pair is trading below the cloud…
Ichimoku Kinko Hyo AUD/JPY: The pair is trading below the cloud…
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