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Forex Today: gold and silver weakened

Forex Today: gold and silver weakened

After reaching new record highs, the precious metals gold and silver came under selling pressure and sold off.

➡️ Precious metals have fallen from recent new highs, with the last few hours seeing declines in gold and silver return part of their earnings. However, trend traders they will still look to get involved on the Long side.

➡️ The industrial metal Copper also fell after hitting a new all-time high, and trend traders will remain interested here too. If copper futures are too big for you, or your broker doesn't offer a copper CFD, there is a copper ETF called Copper.

➡️ Global stock markets They are generally bullish, but have mostly weakened in recent hours, driven in part by bad news on the Chinese market. In the United States, both the NASDAQ 100 Index and the S&P 500 Index advanced, reaching new all-time highs. The Dow Jones 30 Index exceeded 40,000 for the first time. Long trades can be interesting for both trend traders and day traders at this time.

➡️ The data will be released today Canadian CPI (inflation). The monthly increase is expected to decline from 0.6% to 0.5%, which would also produce a decline in the annualized inflation rate.

➡️ In the Forex market , since the opening of Tokyo, the strongest major currency is the British pound, while the Australian dollar is the weakest. However, the movements are so small that they are likely not significant, simply showing a calm Forex market at this time.

➡️ The governor of the Bank of England will give a minor speech this evening.

➡️ The Reserve Bank of New Zealand will hold its regular policy meeting tomorrow. It is expected to keep the official cash rate at 5.50%.

 

Credit by DailyForex.com

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