With the start of US trading session, USD dollar has finally moved to a decline. Why finally? The signs of USD dollar weakness and overbought conditions has been evident throughout the week. USD dollar index broke through the support 96.60 and went down to the zone of six daily lows, the market area is 96.30 points. On this background, the European currency broke the strategic level of 1.1360, and it seems that the bulls will manage to close the day above this mark. If succeed, this will change the entire operational picture for EUR / USD market. EUR / USD is trading around $1.1400.
The British pound, which on Thursday survived the worst day since 2016, after a number of opposite ministers resigned, moved to growth. In late European trading, the GBP / USD market is trading around 1.2860.
The situation on the gold market is developing positively. Today, the precious metal market was able to overcome a strong resistance of $ 1215, and move into the upper range of a wide sideway range 1,182- $ 1,240.
Oil continues a very restrained recovery, which is now caused not so much by fundamental reasons as by technical drivers, since mid-week quotes reached a minimum from mid-March, which for many investors was a good area for profit fixation.
In addition to news from OPEC, investors today will closely monitor the statistics from Baker Hughes, which will help assess the prospects for further increasing production in the United States.
FortFS launches Ultimate Cashback promotion! The promotion is aimed to get the balance compensation per each trade closed with the negative result. Compensated amount is fixed and is equal to 8,88% of the loss amount. All compensations are credited into the trading account automatically.
What is the unlimited leverage? Usually it means borrowed funds provided by broker to clients to enable clients to open larger positions and to increase income from investing without increasing their investments. However, the leverage always has an established limit which is originally determined by the broker and cannot be changed.