Due to continuous fears related to possible escalation of the North Korean crisis as well as some other fundamental factors, the gold continued to gain value against the buck yesterday.
The Labour Department showed that the US job market faced unexpected decrease in jobs, as the economy lost 33K positions in September, reflecting the impact of Hurricanes Harvey and Irma.
The Labour Department showed that the US job market faced unexpected decrease in jobs, as the economy lost 33K positions in September, reflecting the impact of Hurricanes Harvey and Irma.
Due to release of better than expected German data as well as hawkish comments from the ECB official, the Euro continued to recover against the Dollar.
An escalation of the North Korean crisis forced traders to actively transfer their funds into yellow metal, thus defusing the effect from surprising release of information about the US labour market.
The Labour Department showed that the US job market faced unexpected decrease in jobs, as the economy lost 33K positions in September, reflecting the impact of Hurricanes Harvey and Irma.
The Labour Department showed that the US job market faced unexpected decrease in jobs, as the economy lost 33K positions in September, reflecting the impact of Hurricanes Harvey and Irma.
Despite a release of better than expected American labour data, the buck did not managed to break the lower support line of a falling wedge pattern.
The US companies slashed hiring to the lowest level in 11 months in September owing to the disruption of business activities caused by Hurricanes Irma and Harvey, according to the ADP Employment report.
In result of a rebound which matched with a speech delivered by Governor Powell, the plunged to the weekly S1 at 1,266.63.
The British Pound strengthened against the Greenback on the grounds of shiny UK service industry data.
Due to favourable fundamental background, the currency pair made a rebound slipped through the 100% Fibonacci retracement level again.
Despite positive news about the US non-manufacturing activity, a combination of the 55-hour SMA and the 100-day SMA managed to constrain appreciation of the buck against the gold.
The US companies slashed hiring to the lowest level in 11 months in September owing to the disruption of business activities caused by Hurricanes Irma and Harvey, according to the ADP Employment report.
The British Pound strengthened against the Greenback on the grounds of shiny UK service industry data.
Unfortunately, none of the yesterday's fundamental events caused a substantial volatility in the markets.
Rising concerns over the Janet Yellen's resignation from the Fed Chair post enabled gold traders to restore some positions against the buck and even break from dominant descending channel.
The ISM stated that its index for the US manufacturing activity surged to 60.8 points in September, reaching the highest level in more than 10 years.
The GBP/USD fell from the intraday high after the report on Tuesday indicated contraction in the UK construction sector.
Yesterday's trading session revealed that a breakthrough the 100% Fibonacci retracement level at 1.1715 was a false signal.
The ISM stated that its index for the US manufacturing activity surged to 60.8 points in September, reaching the highest level in more than 10 years.
A release of better than expected information about the US manufacturing activity allowed the pair to successfully cross the 100-day SMA.
The GBP/USD kept declining gradually after the weaker-than-anticipated Britain's manufacturing PMI figures.
In result of the Catalan referendum and release of better than expected American manufacturing activity data, the pair broke through a combined support formed by the 100% Fibonacci retracement level and the updated weekly S1.