XAUUSD:
We are expecting the bearish trend in the precious metals market to continue. The Federal Reserve announced the start of the quantitative easing program on October 15. This is a positive signal for stock markets and a negative signal for precious metals. The U.S. Central Bank plans to buy short-term government bonds in the amount of 60 billion dollars a month. This is a negative signal for all “low-yielding” assets, which include gold, the Japanese yen and the Swiss franc. Investors will be selling “low-yielding” assets this week!
Trading recommendation: Sell 1491 and take profit 1468.
#BRENT:
Geopolitical tensions in the Middle East are forcing investors to increase long positions in the hydrocarbon market. The tanker Sabiti was hit in Red Sea waters off Saudi Arabia on Friday. A senior security official said video evidence had provided leads about the incident, adding that the Sabiti was hit by two missiles. Tehran suspects Saudi Arabia of the attack. Freight prices for oil tankers have set a fresh high for the past 11 years. The average cost exceeded $ 94 thousand/day. Just a month ago, the cost varied within $18 thousand.
Trading recommendation: Buy 59.50 and take profit 61.88.
#SP500:
We are expecting the bullish rally in the U.S. stock market to continue this week! President Donald Trump said the two sides agreed to the outlines of a deal that could be signed as early as next month. Trump Says China to Boost Farm Spending to Up to $50 Billion. Earlier American President indicated in a Twitter post that if the countries did reach an agreement, he would be able to sign it quickly. Trump is preparing for the next presidential election, which will be held in the United States in November 2020. Trade agreement with China will positively affect the political rating of Donald Trump!
Trading recommendation: Buy 2965 and take profit 3022.
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