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.
Only from April 12, 2021, to May 14, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]
FortFS wishes all traders a Happy Chinese New Year! Only from February 8 to March 12, 2021, we reduce spreads for the 4 most popular trading pairs. New values*: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5 *These values are valid only for FLEX accounts Hurry up to take advantage of the offer! Learn more about spreads: https://www.fortfs.com/clients/specifications