Gold's Quiet Ascent vs Oil Confusion
All currencies are recovering against the US dollar and yen as indices rally world-wide on broadening signs of leveling off in the numbers of new cases and deaths from Coronavirus in some global epicentres. Even GBP is regaining some ground, after having been dragged across the board last night on news of PM Boris Johnson's admission to hospital with coronavirus. Today the PM is said to be in goood spirits. Gold and silver are at the top, while JPY is the weakest. (more on gold and silver below). CFTC positioning showed an increasingly-crowded euro trade.
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Friday's Premium Trade
*** New FX Trade with 2 Charts & Notes ***
صفقة جديدة للمشتركين مدعومة بمخططين و التفسير العربي داخل الرسوم البيانية
Full trades & charts
US employment fell by 4x expectations, showing a 701K decline in March, but this was not the story of the day. A 40% intraday rally in oil following a series of Trump remarks helped the loonie and prevented further. A new Premium Insights' trade was issued for Premium subscribers after the US jobs, which will remain into the weekend.
Read More...The only real change in fundamentals Tuesday was the turn of the calendar, but that was sufficient to spark further risk-off trades. The yen was the top performer while the Canadian dollar lagged. Today, gold, silver and GBP are at the lead. US weekly jobless claims numbers are up next (more below). The Premium Insights' short in #DOW30 opened on Tuesday was closed yesterday at 21360 for 1070-pt gain, with suggestions on what/where to keep position posted & sent.
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