Precious metals gold and silver are trading higher, while the US dollar has lost ground.
➡️ The precious metals gold and silver recorded a new rise in the last day, especially spot silver which outperformed gold. Traders who follow long-term trends they will still be interested in silver on the Long side.
➡️ In the Forex market , the strongest major currency since Tokyo opened is the Australian dollar, while the US dollar is the weakest major currency, focusing the AUD/USD currency pair .
➡️ In Europe, wheat futures are trading at a new 10-month high today, which is a bullish sign. This is the only major commodity making a new long-term high. Trend traders will be interested here on the Long side. For traders or investors who can't afford it wheat futures , you can buy a wheat ETF with the ticker WEAT.
➡️ The stock markets they are contrasting. Major Asian indexes were broadly higher, but these markets mostly gave up much of their gains towards the end of the trading day. However, there are trends bullish long term in many stock markets, particularly in the index NASDAQ 100 which closed on Friday at a record price.
➡️ There has been talk about the role of the Japanese yen in the carry trade as a currency to run short due to its interest rates still low. Nomura suggests that even if the Bank of Japan raises rates during 2024, the yen could remain attractive in this trade, with the USD/JPY currency pair maintained for a long time over the past year, which returned the 18% to interbank trades: retail traders will. I'm unlikely to have received anything like this due to the fact that retail gets relatively poor swaps from most of CFD brokers .
➡️ CB consumer confidence data for the United States will be released today.
Credit by DailyForex.com
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