There are plenty of market movers to capture trader’s attention from Oil, Gold to GBP & Dow hitting 28,000 for the first time ever.

The US Equities really continues to drive on despite the trade fears and Fed messaging. SP500 nailed $3,120 as the buying power holds strong momentum for risk assets, perhaps fuelled by some positive US comments regarding trade progress for US & China.

Meanwhile Gold has formed a nice bottom last week at that low of $1,444, and now heading towards $1,470 very quickly as HK protests ramp up, again. The fires burning in HK university after an “all night protest” in HK, makes for some concerns on how China may look to handle this, and impact on trade negotiations if they do so.

HK50 (Hang Seng) remains pressured amid total chaos in the city of HK, spilling over into selling pressure in HK equities, with more pain in store.

I remain cautious n trade progress with a brave call to reverse on Gold and become a buyer last week – with a target of $1,500 firmly set once again.

  • AUD/USD liked the improved chatter from the US regarding trade progress, and advanced back to 0.6820
  • NZD/USD followed higher to regain the 64c handle also.

Oil was noteworthy with a strongly bullish close as lower US rig count spurred on a rally in Oil, back to $58.

In GBP/Brexit news, some resignations in the Brexit party boosted the optimism around Brexit by way of a clearer pathway to a majority UK government post December 12 election – lifting GBP sharply.

  • GBP/JPY was a sharp mover on the open today, now dealing at 140.40 after punching higher with a bullish gap to start the new week.

This week delivers many central bank forward guidance minutes, which I always love to see, as traders gain a clearer insight into what could come next from:

  • RBA.
  • US Fed.
  • Bank of Canada.
  • ECB.

The EUR/USD also found bidders on Friday with a renewed upside move to 1.1050 on the charts ahead of the Euro data on Friday and respect to ECB Lagarde speaking this week also.

Chart to Watch:

  • Gold – Look for a run up to $1,480.

RISK WARNING: Foreign exchange and derivatives trading carry a high level of risk. Before you decide to trade foreign exchange, we encourage you to consider your investment objectives, your risk tolerance and trading experience. It is possible to lose more than your initial investment, so do not invest money you cannot afford to lose。 ACY Securities Pty Ltd (ABN: 80 150 565 781 AFSL: 403863) provides general advice that does not consider your objectives, financial situation or needs. The content of this website must not be construed as personal advice; please seek advice from an independent financial or tax advisor if you have any questions. The FSG and PDS are available upon request or registration. If there is any advice on this site, it is general advice only. ACY Securities Pty Ltd (“ACY AU”) is authorised and regulated by the Australian Securities and Investments Commission (ASIC AFSL:403863). Registered address: Level 18, 799 Pacific Hwy, Chatswood NSW 2067. AFSL is authorised us to provide our services to Australian Residents or Businesses.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD loses 1.1800 amid escalaing US-Sino tensions

EUR/USD dips sub-18 after the US reported an increase of 1.763 million jobs in July, better than estimated but pointing to a deceleration. Escalating Sino-American tensions are boosting the dollar and fiscal talks are eyed. 


GBP/USD resumes decline, weighed by UK concerns, US-China conflict

GBP/USD trades at fresh weekly lows below 1.3050 as the dollar got a sudden boost from mounting tensions between the world's two largest economies. UK Chancellor Rishi Sunak said the furlough scheme that is underpinning the economy cannot last forever.


XAU/USD drops $50 from record highs to the $2020 area

Gold prices are falling sharply on Friday, trading below $2040/oz at the moment. Earlier on Friday, the yellow metal reached at $2075, a new record high.

Gold News

Bitcoin may extend the recovery once Gold resumes the rally

Gold retreated from the recent highs, but the sentiments are still bullish. Cryptocurrencies resumed the upside, some altcoins are demonstrating strong gains. ETH/BTC stopped the downside correction and settled at $0.03300.

Read more

WTI extends slide toward $41, on track to post weekly gains

Crude oil prices continued to fall on Friday and the barrel of West Texas Intermediate (WTI) touched a daily low of $41.05 before recovering modestly.

Oil News

Forex Majors