Dow Jones fell 572 points and U.S. dollar also was weaker on last Friday because of the trade tension between USA and China as well as U.S. employment data. U.S. nonfarm payroll released lower than forecast 102,000 positions so dollar fell hardly. In my view, these factors may pull world stock markets open lower on Monday.
According to the negative factors of greenback and high risk assets, the demand of low risk asset such as gold may increase. Gold price may rise higher than 1,340 points and may try to reach back 1,760 points again on this week, if U.S. will not have any good supporting factors. Brent may try to hold steady above 66.50 USD but it may continue its sideway down trend because of U.S. rig count rose to 808 on last Friday. EUR/USD may rise, if it can break 1.2300 points. I think EUR/USD may continue moving sideways but the recent trend maybe bullish to 1.2400 points.
George Soros called cryptocurrency as a “bubble” early in January but now he is preparing to trade in crypto market but he will not do it himself. Adam Fisher, who oversees macro investing at New York-based Soros Fund Management and got internal approval to trade virtual coins in the last few months, will work for Soros. Bitcoin and altcoin fell hardly but still try to keep their strength and Soros’s investment may help crypto-market shine again.
By Niramon Nitnitiphruet
Financial analyst, Olymp Trade.