Gold /AUDUSD China Trade - Thanksgiving week
A second-phase deal could not be reached yesterday, and uncertainty in the US-China Trade Deal persisted. So overall, investors were looking to take on less risk with the uncertainty.
We see AUDUSD continuing it's bearish momentum and will likely stay below the 0.6800 handle. Australian Dollar denominated assets are considered slightly risky, so this is where the selloff happens. However, gold saw a $7 drop /troy oz. not a significant move.
Being Thanksgiving week, I am refraining from opening positions, as markets will likely have low volatility. There is GDP data to be released tomorrow, Wednesday, so that may give a slight push to markets
We see AUDUSD continuing it's bearish momentum and will likely stay below the 0.6800 handle. Australian Dollar denominated assets are considered slightly risky, so this is where the selloff happens. However, gold saw a $7 drop /troy oz. not a significant move.
Being Thanksgiving week, I am refraining from opening positions, as markets will likely have low volatility. There is GDP data to be released tomorrow, Wednesday, so that may give a slight push to markets