Futures in Japan are pointing to a modest gain, with most markets in Australia, China, and Hong Kong closed. The US payroll data showed better than expected job creations on Friday.
Commodity traders are expecting oil prices to ease in the early trade after OPEC+ decided to increase production. According to Zero Markets’ Metatrader 4, WTI futures were trading down 0.28% to near $61.28 per barrel.
According to top-tier forex broker, Zero Markets, the US dollar was a little changed against major forex pairs since Friday. EUR/USD was flat trading near $1.176 and AUD/USD was 0.07% lower to near $0.7615 as fx traders were enjoying their Easter holidays.
The gold trader’s expectation upon a stronger economic recovery saw gold prices dropped by 10% in 2021, posted its first quarterly loss in more than two years, according to Zero Markets’ MT 4 data.
A new wave of COVID infections has posed threat to the gold lending market in India. Lenders have cut tenure from 270 days to 90 days. The use of leverage and margin trading is also being closely monitored as credit risk increases upon the new surge in COVID cases.
Key events this week:
- Australia’s Reserve Bank policy decision (Tuesday)
- US Federal Reserve Minutes (Wednesday)
- China’s consumer and producer prices data (Friday)
- IMF panel on the global economy (Friday)
Zero Markets provide a variety of account types suitable for all types of traders including ECN Account (Super Zero Account), Standard Account, Islamic Account, PAM/MAM, and Pro Trader Account. Start trading with the best-regulated CFD broker – Zero Markets. Enjoy competitive pricing and tight spreads starting from 0.0 pips across more than 60 tradable instruments.
Leave a Reply