Trading news

Possible Recession in the United States Economy Is Support for Gold

After updating a new annual maximum of around $1510 per ounce on the spot chart, gold is being traded in a downward price channel with a width of $17. After an impulsive and aggressive uptrend, this channel formed a flag, which is a trend continuation signal. The price range is locally concentrated within the borders of $1490-1507, however, after the consolidation is over, new bullish movements and updates of the highs can be expected.

Market tensions and concerns over the effects of a trade war between the US and China continue to rise. Goldman Sachs analysts recently lowered the forecast for US GDP growth for the last quarter of 2019 down to 1.8 percent, increasing the impact of the trade war on growth. The bank said that they no longer expect deal signing between the two largest economies in the world until the US presidential election in 2020. Such a factor may become a driver of additional capital flow into safe-haven assets, and above all, to the gold.

Olymp Trade Review

Monday, 12 Aug, 2019 / 2:15

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : https://olymptrade.com/

Trading news

 

Fed Was Divided on July Cut, ECB Minutes and EZ PMIs in Focus

Yesterday, the minutes from the latest FOMC gathering showed that policymakers [...]

Posted on Thursday, 22 Aug, 2019 / 8:58 under

Markets Stay Muted To Fed Minutes

Markets saw little activity after the release of the Fed’s meeting [...]

Posted on Thursday, 22 Aug, 2019 / 7:37 under

The Correlation Between the S&P 500 and US Unemployment Rate

For more analysis check out, please click the below link: Market Analysis by [...]

Posted on Thursday, 22 Aug, 2019 / 2:56 under