Market Uncertainty Leads Traders to Seek Safe-Haven Assets

July 2, 2024

in Trading

Reading Time: 1 min read

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The US Greenback is going through struggles following Jerome Powell’s feedback on disinflation, regardless of constructive JOLTs information. This uncertainty out there is inflicting merchants to show in direction of safe-haven property, with many including again to their XAU/USD positions in response to TDS.

However, the Canadian Greenback has rebounded on Tuesday, persevering with its uneven buying and selling sample. Nonetheless, Copper is beneath promoting strain because the market stays unsure about international financial progress.

In distinction, the oil market has turned to the upside, offering some reduction for traders. Fed’s Gooslbee’s feedback on inflation have additionally added to the uncertainty out there, inflicting fluctuations in main foreign money pairs like GBP/USD and USD/CAD.

Regardless of this, the Australian Greenback stays robust because the RBA retains a fee hike on the desk, offering some stability out there. General, merchants ought to stay cautious and monitor the newest developments out there to make knowledgeable buying and selling selections.

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