G7 Summit, Geo-politics.
This week opens on a Tuesday to be honest, with the US and the UK both having Bank Holidays on the Monday. Thus lets begin for the week ahead from Tuesday on-wards.
Our main focus for Tuesday is the US's Consumer Confidence, which is expected to come in just slightly below last months result. This really shouldn't do much, doubt anything more than a $5 shift, then later we have the New Zealands Financial Stability Report. This as well will result in a small amount of volatility at max so Tuesday could end up being a a dull day. But looking at last week with Trump dropping that bombshell and dropping out of the talks with main man Kim, we know anything is possible #geopolitics.
Wednesday has a few events worth watching and thus we might seen some significant volatility in the Gold market. The main two I am going to pay close attention too are the US's ADP Non-Farm Employment Change and their Prelim GDP. ADP is showing a slight decline, forecast is expecting around a 20k decline from last month while Prelim is looking to be holding bang on last month at 2.3%. I feel the ADP could cause some movement and a fluctuation from the expected GDP again will add further pressure to markets. Wednesday could be a day full of movement for the precious metal. I feel the BOJ Governor speaking could add further volatility to markets during the day, for sure we will see substantial movement for Gold as well as the USD/JPY market.
Furthermore it would seem Gold has managed to regain much of the ground it lost early last week, and RSI is showing a healthy position and thus there definitively could be substantial growth for the precious metal before it hits the Upper Band region. However Volume is low and maybe continuing to rally above the $1300 mark for Gold may be hard if volume stays low but who knows really?
Thursday has Day 1 of the G7 Summit, not necessarily important to the Gold market directly but if political discussions hint towards further issues Gold has every opportunity to rally. But further to this because of the duration of G7 everyday could create unlimited implications on markets generally so defo watch out for that shit.
Friday has the US's Non-Farm Employment Change and Unemployment Rate, Non- Farm shows a slight decline, but nothing is expected for the Unemployment Rate. But who knows, anything could happen, then of course Friday is day 2 of the G7 Summit and thus volatility is expected. Apart from these there really isn't anything that will shift the Gold market to an extent worth mentioning in my humble opinion.
Peace.
The Naive Trader.
Forex Factory, 2018.
IG.com, 2018.
Tradingview, 2018.
Our main focus for Tuesday is the US's Consumer Confidence, which is expected to come in just slightly below last months result. This really shouldn't do much, doubt anything more than a $5 shift, then later we have the New Zealands Financial Stability Report. This as well will result in a small amount of volatility at max so Tuesday could end up being a a dull day. But looking at last week with Trump dropping that bombshell and dropping out of the talks with main man Kim, we know anything is possible #geopolitics.
Wednesday has a few events worth watching and thus we might seen some significant volatility in the Gold market. The main two I am going to pay close attention too are the US's ADP Non-Farm Employment Change and their Prelim GDP. ADP is showing a slight decline, forecast is expecting around a 20k decline from last month while Prelim is looking to be holding bang on last month at 2.3%. I feel the ADP could cause some movement and a fluctuation from the expected GDP again will add further pressure to markets. Wednesday could be a day full of movement for the precious metal. I feel the BOJ Governor speaking could add further volatility to markets during the day, for sure we will see substantial movement for Gold as well as the USD/JPY market.
Furthermore it would seem Gold has managed to regain much of the ground it lost early last week, and RSI is showing a healthy position and thus there definitively could be substantial growth for the precious metal before it hits the Upper Band region. However Volume is low and maybe continuing to rally above the $1300 mark for Gold may be hard if volume stays low but who knows really?
Thursday has Day 1 of the G7 Summit, not necessarily important to the Gold market directly but if political discussions hint towards further issues Gold has every opportunity to rally. But further to this because of the duration of G7 everyday could create unlimited implications on markets generally so defo watch out for that shit.
Friday has the US's Non-Farm Employment Change and Unemployment Rate, Non- Farm shows a slight decline, but nothing is expected for the Unemployment Rate. But who knows, anything could happen, then of course Friday is day 2 of the G7 Summit and thus volatility is expected. Apart from these there really isn't anything that will shift the Gold market to an extent worth mentioning in my humble opinion.
Peace.
The Naive Trader.
Forex Factory, 2018.
IG.com, 2018.
Tradingview, 2018.
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