Another US trade dispute drops stock indices

By 03/10/2019 No Comments
trading review

Wednesday turned out to be a bad day for financial markets for several reasons. The United States may introduce duties on certain products of the EU countries, which could be the beginning of another trade war. US stock indices lost more than 1.5% per day, gold and defensive assets, on the contrary, received a stimulus for growth.

Forex Calendar
Forex calendar Oct 3
In Germany, celebrate the Day of Association, therefore, low financial activity is expected.

At 11:30 (GMT+3) in the UK will be released a composite PMI index for September.

At 17:00 (GMT+3) is expected the index of business activity in the US non-manufacturing sector from ISM. The expected rate is 55.

Commodity Markets
Gold. Yesterday gold overcame $1,500, but today it is correcting. October 3, gold futures cost $1,498 per troy ounce.

Oil. Oil inventories in the US grew by 3 million barrels, instead of the expected reduction of -5 million barrels. On the morning of October 3, Brent futures are trading at $57.5 a barrel, while WTI crude oil is strengthening 0.3% to 52.6.

The dollar index (DXY) fell on Wednesday. Thursday morning DXY is 99.1 against a basket of major currencies.

Yesterday, Boris Johnson made the latest EU proposal regarding the country’s withdrawal from the union, and some investors saw positive signs in this. On the morning of October 3, the GBP/USD pair is trading around 1.2283.

On Thursday, the euro continues to strengthen. In the morning, the EUR/USD pair is trading around 1.0946.

Yesterday, the dollar fell against the yen. On Thursday morning, the pair USD/JPY is trading near 107.2.

On Thursday, the dollar strengthens against the Swiss franc. Today, the USD/CHF pair is growing at 0.4% and is trading around 1.0013.

Daily Trading Signals

Trading signals oct 3 fx Trading signals oct 3 commod
Important: this review does not contain trading recommendations and calls for transactions, all the opinions expressed are the personal opinion of the author. Traders are solely responsible for decisions made.