The U.S. dollar fell against major pairs on Friday despite a strong June jobs report due to the impending start of tariffs against Chinese goods and the retaliation from the Asian nation on U.S. exports. The U.S. economy added 213,000 jobs and wages rose 0.2% but it is the threat of trade war escalation that put pressure on the U.S. currency.
The Aussie/U.S. dollar currency pair made a strong and firm break below the 0.7512 bearish level and the lower corrective channel line. The U.S. dollar/Swiss franc currency pair is trading higher today, unfolding a nice and clear bullish structure from the 0.9786 low.
Apart from the eagerly anticipated announcement from President Trump on whether the United States will pull out of the 2015 Iran nuclear deal, one of the most highly awaited events in the economic calendar this week will be the latest interest rate decision from the Bank of England (BoE).
Gold: USD 1,320.30, GBP 951.14 & EUR 1,080.53 per ounce; silver: USD 16.44, GBP 11.88 & EUR 13.45 per ounce
Gold: USD 1,332.75, GBP 954.78 & EUR 1,081.26 per ounce; silver: USD 16.61, GBP 11.91 & EUR 13.48 per ounce
Gold: USD 1,339.05, GBP 953.00 & EUR 1,085.30 per ounce; silver: USD 16.67, GBP 11.88 & EUR 13.52 per ounce
Gold: USD 1,328.90, GBP 951.09 & EUR 1,079.20 per ounce; silver: USD 16.61, GBP 11.88 & EUR 13.50 per ounce
Crude oil recently found a top for a five-wave move at the 62.62 level, from where we have seen a decline in three minor waves.
Gold: USD 1,337.40, GBP 955.97 & EUR 1,083.83 per ounce; silver: USD 16.57, GBP 11.85 & EUR 13.42 per ounce
Gold: USD 1,347.40, GBP 961.10 & EUR 1,085.47 per ounce; silver: USD 16.72, GBP 11.92 & EUR 13.46 per ounce