Forex trading interest rates this week. US indices higher on US China trade deal
In today’s market outlook, let’s take a look at forex trading on the NASDAQ, the S&P500, Gold, XAUUSD, Brent, and WTI Crude Oil.
Last week, we saw the prices of WTI and Brent Crude Oil higher based on Russian oil sanctions.
Now, the threats against Venezuela are not helping, but we see signs of a technical reversal.
If we look at the daily chart on WTI Crude Oil, we see price action at the upper trend line and the stochastic oscillator overbought and about to cross over.
But beware of the news.
If the US and China ratify a trade deal in Malaysia, this may signal increased demand and see prices rise.
This has put pressure on Gold, which has opened with a gap to the downside today.
The same has happened with Silver, where price action has formed a descending triangle with solid support at $48.
Let’s watch for a break below if all goes well.
All the US indices opened today with gaps to the upside on the trade optimism.
All this good news may not affect interest rate decisions this week from Canada, the US, Japan, and Europe.
We are expecting a rate reduction in the US but remember, the government is still shut down.
Regardless, expect volatility this week.
Author
Brad Alexander
FX Large Limited
Brad became fascinated with the Currency Markets from a young age and researched fundamental analysis.
