• +1-949-335-4314

Capital Street BancClear Corporation

Option Banque is a brand owned and operated by Capital Street BancClear Corporation Limited with registered address Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, SVG.

  • Suite 305, Griffith Corporate Centre Beachmont, KingsTown Saint Vincent and The Grenadines

  • +1-949-335-4314

  • support@optionbanque.com

  • Monday-Friday: 6.00 AM
    4.00 PM GMT

Gold Losses Ground Against Bullish U.S Dollar -

    • Home
    • General
    • Gold Losses Ground Against Bullish U.S Dollar
Apr, 06th 12:17

The US trade deficit in February expanded to $47.1 billion, higher than the economists’ forecast of $46.2 billion. The inflation-adjusted reading registered at $63.33 billion, the 11-month high, up 2.4% from $61.8 billion in the previous month. The economy seems weaker in the first quarter as the Commerce Department’s data showed.

Yesterday, the Economic Optimism Index in April slid 1.1% to 46.3, compared with the 46.8 level last month, 0.6 point lower than its one–year average of 46.9. The US is facing a more pessimistic confidence of Americans. The conflict in Fed officials’ statements is casting strong shadow to the economic growth.

However, the service sector is shedding some light on the national growth picture as positive data released on Tuesday. The Markit U.S. Services Business Activity Index surged up to 51.3 in March, from 49.7 in the previous month. The higher-than-average reading signals a return to growth for overall U.S. private sector activity. The dollar index inched up to 94.82 from the last close 94.62, the buck tends to stronger than it was for several days.

Today, the Japan’s Cabinet Office reported that leading index last month continued to decline for the fourth month, stood at 99.8, down 2% from 101.8 in January and created the lowest level since December 2012. Meanwhile, In China, The Caixin China services purchasing managers’ index increased to 52.2 in March from 51.2 in February, showing to a recovery outside the nation’s factory sector. A weak economic growth in Japan and a brighter signal from China are putting opposite effects on the gold.

Market is awaiting the US Crude Oil Inventories report, with the expectation for an increase of 3.1 million barrels last week. In the previous week, the oil stockpiles rose 2.3 million barrels, reaching the peak of 534.8 million.

Moreover, investors are paying much attention on the Federal Reserve’s minutes of the last meeting to find clues on the prospect of U.S rate hike pace. Dovish stance will support for Gold, otherwise, the metal is likely to weaken against the gaining-momentum greenback.

xauusd

Fig. GOLD H4 Technical Chart

The precious metal has been fluctuating in a quite wide rage recently as the two SMA lines keeps crossing together, signaling no clear direction. The price is expected to continue moving sideways in short term and then bounce back with the support of the dots band below.

Trade suggestion

Buy Digital Put Option at 1216.09, Buy Digital Call Option at 1227.21.

Option Banque has proven A+ Rating and Reviews on forex forums

Leave a Reply

Your email address will not be published.