GBP/USD inched higher in early trading on Wednesday, reaching its highest levels since December 31st. The recent surge has been largely attributed to a soft US dollar and rising expectations that a Brexit trade deal will be reached by October.
The British Pound remained on the front foot in early trading on Friday amid rising optimism over a Brexit deal and easing lockdown rules in the UK. Sterling remains near a 5-month high and is currently holding above the key psychological level of 1.30.
Gold extended its losses in early trading on Wednesday, before rebounding sharply. The yellow metal fell by over 5% on Tuesday, marking its worst day in 7 years.
The greenback remained on the front foot in early trading on Monday, after Friday’s better than expected US employment report.
Silver climbed to its highest levels since April 2013 in early trading on Wednesday, while gold rose to new record highs above $2,000 an ounce. The move comes after July’s 34% rally, marking silver’s largest monthly gain since December 1979.
Simon Ree has been an active trader and investor since 1992. His book, The Tao of Trading launched this month and has already reached #1 Amazon Best Seller status across five categories.
Gold traded lower early on Thursday, as investor mood was buoyed by the dovish stance of the Federal Reserve. On Wednesday, the Fed committed to leave interest rates near zero and pledged to use all its tools to support an economic recovery.
Charlie Burton’s presentation from the June 2020 Smart Traders Bootcamp.
Gold remained bid in early trading on Friday, underpinned by the prospect of further fiscal stimulus and simmering US/China tensions. Meanwhile, the US Dollar Index fell to its lowest levels since September of 2018.