Top 5 Things to Know Before You Start Trading
This Tuesday the market is expected to see low volatility, JPY and gold are seen lower while oil and Asian shares rise.Â
1 – Uneventful Economic Calendar Today
The forex markets are generally trading in a tight range. The absence of any significant market events today is likely going to cause a continuation of low volatility.
2 – USD/JPY at Highest Since March 15th
The Japanese Yen (JPY) is attempting to extend recent down trend but momentum is relatively weak. In particular, USD/JPY is testing  the 114.40 key medium-term resistance level. Euro is firm as Sentix investor confidence stayed close to a 10-year high in July. But both the US dollar and Sterling are mildly stronger and they pare some of last week’s losses.
3 – Gold Gives Back its Modest Gains
Gold saw a modest bounce back on Monday, rising after a solid U.S. jobs report issued late last week contributed to prices dropping to their lowest level in about four months. The metal lost 1.1% on Friday to end the session at $1,209.70—the lowest finish since March 15th. Gold has fallen more than 6.7% over the past month, with the majority of the decline coming in the last days of June when three of the world’s top central bankers – Janet Yellen, Mario Draghi and Mark Carney – made speeches indicating that interest rates will begin to increase around the world as economies grow.
4 – Oil Rebounds
Crude prices continued to rebound after a sharp sell-off last week, the sixth weekly loss in seven weeks driven by concerns over a market glut. Oil prices were also lifted by reports that the Organization for Petroleum Exporting Countries (OPEC) may be considering capping production in members Nigeria and Libya. Oil dropped as low as 43.62 last week, only to rebound to 44.71 at the time of writing.
5 – Asian Shares Rise as Investors Await Yellen Testimony
