Trends don't change in the middle of nowhere. New week, new month flows, new month starts on Thursday, however we got NFP on Friday.
Market will take time to digest FOMC/NFP impact and adjust accordingly, re balancing won't happen overnight.
I figure real re balancing in FX markets will kick off early next week. Until then I expect DXY to still reign supreme.
RISK OFF until Mon/Tue (short gold, EURUSD, GBPUSD etc etc) then RISK ON mode for a few weeks (long gold, EUR,GBP).
Gold should really start shining from 10th August into mid September. Strong period for gold. We might get a print >1500 then.
This is my 2 cents anyway, for what it's worth.
Market will take time to digest FOMC/NFP impact and adjust accordingly, re balancing won't happen overnight.
I figure real re balancing in FX markets will kick off early next week. Until then I expect DXY to still reign supreme.
RISK OFF until Mon/Tue (short gold, EURUSD, GBPUSD etc etc) then RISK ON mode for a few weeks (long gold, EUR,GBP).
Gold should really start shining from 10th August into mid September. Strong period for gold. We might get a print >1500 then.
This is my 2 cents anyway, for what it's worth.
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