Markets Slowing Down Ahead of NFP, What To Lookout For
Hey There,
The dollar has been in demand so far this week, boosted by it being seen as a safe-haven amid political turmoil in both South Korea and Europe as well as ongoing conflicts in the Middle East and Ukraine.
With France’s government facing “No Confidence votes” that could spell the end of the short-lived administration of Prime Minister Michael Barnier, pushing the country into uncharted waters of political chaos.
Gold Prices rose marginally as political turmoil in South Korea spurred some safe haven demand along with fears of a collaps in the Israel-Hezbollah ceasefire. However, trades continue to remain on the sidelines amid anticipation for more cues on U.S interest rates.
But any gains in gold were largely limited by a spike in the dollar as it soared on uncertainty over the long term outlook for U.S rates.
The dollar has been in demand so far this week, boosted by it being seen as a safe-haven amid political turmoil in both South Korea and Europe as well as ongoing conflicts in the Middle East and Ukraine.
With France’s government facing “No Confidence votes” that could spell the end of the short-lived administration of Prime Minister Michael Barnier, pushing the country into uncharted waters of political chaos.
Gold Prices rose marginally as political turmoil in South Korea spurred some safe haven demand along with fears of a collaps in the Israel-Hezbollah ceasefire. However, trades continue to remain on the sidelines amid anticipation for more cues on U.S interest rates.
But any gains in gold were largely limited by a spike in the dollar as it soared on uncertainty over the long term outlook for U.S rates.
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