ActivTrades’ Market Analysts have prepared for LeapRate their daily commentary on traditional markets for November 15, 2019. This is not a trading advice. See details below:
FOREX
The US dollar is finding support and gaining ground on the traditional safe-haven assets, such as the Japanese yen, during the early part of Friday’s session. The market mood during the last few weeks has been dominated by a game of hot and cold, played by the US and China in regards to progress of trade talks. In the latest chapter, Larry Cudlow, President Trump’s economic adviser, made a positive statement about the progress of the talks, which was enough to lift the mood and support more risk related assets like the dollar.
Ricardo Evangelista – Senior Analyst, ActivTrades
GOLD
The area around $1,450 has been a great support to the price of gold, helping it rebound up to $1,470, a former support level, which has now become the first resistance area. Today the price is slowing down again on the strength of the US dollar and with stock markets in green.
We will have a first positive signal if the price climbs above $1,470, while another fall below $1,445 would denote sellers dominating while markets wait for further news on the trade war or further input from central banks, particularly from the Federal Reserve.
Carlo Alberto De Casa – Chief analyst, ActivTrades