Advertisement
fxgiants
Advertisement
24option
BREAKING NEWS : 1 Million Dollar Demo Contest, 10 Round monthly $50,000 withdrawable CASH Prize! + 500K for final 10 Winners! Hurry up, Join Now!
Written by experienced traders and professional market analysts, our Forex technical analysis is just what you need to get an edge in your Forex trading
Advertisement binomo

Commodities benefit from weaker USD

Written by Stuart Cowell | 2017-10-12 11:16:04 GMT

The Greenback has continued its decline this week and the main beneficiaries have been the key commodities of Gold and Silver. Last night’s FOMC minutes added to the negative sentiment for the USD this week. The Doves on the committee were suggesting that weak inflation may not be transitory and caution in raising rates. However, the December rate hike is now “baked in” to expectations and only a significant weakening of the data stream and some major shocks from the current Earnings round would be required to stall the move. GOLD and Silver both triggered LONG positions on the DAILY timeframe on Monday and Gold hit T1 yesterday for a net gain of $10.40 or 1040 pips. I discussed both positions with our live audience at our latest Seminar in Johannesburg on Tuesday evening. More Live seminars next week in South Africa in Durban and Cape Town, join us if you can.

Author

Stuart Cowell
superforex

Start Trading With Top Industry Brokers

Broker Profile Open Account
xm
  • Minimum Deposit: 5 USD
  • Leverage of up to 1:888
  • Broker Type : Market Maker
  • Regulation : CySEC,ASIC ,FSP ,FCA
  • xm
    Markets
  • Minimum Deposit: 100 USD
  • Leverage of up to 1:500
  • Broker Type : Market Maker
  • Regulation : CySEC
  • Markets
    Trade
  • Minimum Deposit: 250 USD
  • Leverage of up to 1:200
  • Broker Type : Market maker
  • Regulation : CySEC
  • trade

    Contact us
    fxvnpro@gmail.com
    hangtranfx@gmail.com