Gold has been the standout performer amid all the uncertainty, returning to its traditional role as a safe-haven asset for investors seeking refuge. The precious metal has gone from record high to record high in recent sessions and yesterday was no exception, reaching $2,841 an ounce by the end of the day. Inflows have even extended to silver, which closed above $32 for the first time since last November. Bitcoin has partially recovered from the rout in cryptocurrencies earlier in the week but remains below $100k at the time of writing.
The Dollar withdrew from recent highs after wreaking havoc on Monday. The fallout from trade tariff posturing has left some interesting candles on major currency pairs but much of the violent price action appears to be behind us for the time being. The DXY retreated down to 108 late on Tuesday evening.
Difficult to say what lies in store for traders over the next few days but attentions may have to turn back to fundamentals at some point. Later today, markets will whet their appetites with ADP employment figures, which serve as a precursor to the more headline-grabbing NFP numbers on Friday.
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