US equity futures & Bonds lower as markets digest Trump tariffs, Fed Chair Powell due
Good morning USA traders, hope your day is off to a great start! Here are the top 6 things you need to know for today’s
6 Things You Need to Know
US President Trump signed proclamations to reimpose a 25% tariff on steel and aluminium imports and declared there are no exceptions or exemptions, effective March 12th.
US President Trump said they are looking at tariffs on cars, pharmaceuticals and chips and will hold meetings over the next four weeks, while they will do reciprocal tariffs over the next two days; Trump also commented that tariffs on metals could go higher and he does not mind if other countries retaliate.
US President Trump is expected to sign executive orders on Tuesday at 15:00EST/20:00GMT.
European stocks are indecisive as markets digest the latest tariffs; US futures are modestly lower.
DXY is a little lower but with price action contained as markets brace for more trade turmoil.
Bonds reel as Trump hits steel, BoE’s Bailey and Fed’s Powell are set to speak; crude gains whilst metals take a hit.
Hi all, there is a temporary pull back on the xau/usd (gold), from price 2942 to the present price at 2901. This is a support line as market can pull back up (buy) from here and return to its former buying position. If we are on a sell let’s not sleep there thinking it will continue its bearish movement for long.
Brace up, market might soon start buying again on the Gold. Enter your Trades with caution of 2-5% risk of capital. A word is enough for the wise!
Lock me up and throw away the key if I say charts show potential for a XAUUSD top or at least a pause and a time out to collect its breath given the strength of the trend.
Well, that is what this chart is showing
– Pause or just a breather as long as the 2942 high stays intact.
– Risk of a shift in directional; risk towards a retracement if 2920 holds on top and is followed by a break of 2896.
– Otherwise, it is just taking a breather with 3000 on its radar as long as it trades above 2896..
Gold is clearly very bullish and looks to me that two levels are possible targets right now:
3050.00 & 3080.00
Only question is where to buy it right now – well, if it closes tonight just above 2885.00 that would be the first doable level for another leg up tomorrow.
Lower level is 2870.00 – that one would make me smile J
But below those two, better wait and see the reaction around 2810.00
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