Traders are less likely to soon end the “trade war”
Major US indices fell -0.4% on Monday night. This happened after the United States announced the imposition of sanctions against Chinese companies. Recall that on Monday-Tuesday, representatives of Beijing and Washington are negotiating and preparing for a meeting at the ministry level on Thursday-Friday. Traders do not hope for an early solution to the trade and economic confrontation soon and adhere to less risky strategies.
15:30 (GMT+3) will be published producer price index (PPI) for September in the United States. An index above 0.1% will be positive for the dollar (USD).
Oil. On Tuesday, oil is growing at 0.5% amid a worsening situation in Iraq and Ecuador. In the morning, WTI is $53. Brent futures are trading near $58.7.
Gold. The protective metal fell significantly on Monday, as some analysts suggest that the Fed may not lower rates this month, which supports the currency, but negatively affects gold. Besides, the trade and economic confrontation between China and the United States is also reflected in commodity markets and the results of negotiations can determine the direction of gold at the end of the week. On the morning of October 8, gold is trading near $1498.
Currency. The DXY dollar index is getting a little cheaper on Tuesday. On the morning of October 8, the DXY is 98.8 against a basket of major currencies.
On October 8, the dollar is getting cheaper against the yen. In the morning, the pair USD/JPY is trading at 107.1.
Euro (EUR) is up 0.1% against the dollar. In the morning, the EUR/USD pair is trading near 1.0985.
Many financial experts are inclined to the scenario of a tough exit of Britain with the EU. This creates pressure on the pound. GBP is down 0.2%. On October 8, the GBP/USD pair is trading around 1.2255.
Cryptocurrency. Bitcoin (BTC) drops by -0.4%. On October 8, BTC is trading around $8,170. In the morning, Ethereum (ETH) is up 0.2% and is trading near $180.9. The price of Litecoin (LTC) is $57.3.
(Interval one day)
Important. This article does not contain any calls for transactions or trading recommendations. Traders are responsible for their decisions. The judgments presented here are the personal opinions of the author.