Finally, negotiation between China and USA meeting had done on last Friday. U.S. Treasury Secretary Steve Mnuchin said that a trade delegation in China has been having very good conversations. In contrast, there was no joint communique afterward or any official word or whether, they would meet again. It was not clear when Trump and Xi Jinping might meet again but both will attend some of the same multilateral summits this year such as G-20 and APEC.
In my opinion, major stock market in Asia may trade mixed on Monday. However, U.S. mixed economic data on Friday: nonfarm payroll and average earning were lower which may give negative for greenback. The lower earning rate may express the slowdown rising inflation but unemployment rate reduced 3.9 lowest since 2002 so I think U.S. dollar may become a little weaker.
The coming meeting with North Korea in this month may pressure Gold price drop lower. In contrast, oil price may hold steady or rise above 75 USD supporting by issues in Venezuela and Iran. Bitcoin price retested 10,000USD early on Sunday but it mays need more buy to rise above 10,000 points. I suggest a support line at 8,600 USD and first resistance level at 10,000USD then next resistance at 12,000 USD.
By Niramon Nitnitiphruet
Financial analyst, Olymp Trade.