Gold & WTI Crude Trade Levels – Stronger Dollar Keeping Commodities In Check!

The U.S. dollar is expected to continue to price in the U.S. labor market figures. Today on Monday, the greenback stayed near its 2018...


What’s up, traders?

The U.S. dollar is expected to continue on its’ price in the U.S. labor market figures. Today, Monday, the greenback stayed near its 2018 high after U.S. jobs and wages data remain mixed.

The U.S. economy added fewer jobs than expected. The average hourly earning also disappoints as they rose less-than-expected 0.1% in April, leaving the annual increase at 2.6%.

The unemployment rate sank to 3.9%. Although it’s an incredible improvement, the worse than expected nonfarm payroll and pricing of the market kept the dollar in check.

This week, we don’t have much from the United States, but the BOE and RBNZ will remain in our highlights. In fact, you should check FX Leaders weekly economic outlook for handy information. Let’s take a look at the new trading levels for gold and crude oil.

Gold – XAU/USD – Trading Levels
Support   Resistance
1306            1313.94
1303.54       1316.4
1299.57       1320.37
Key Trading Level: 1309.97

WTI – Crude Oil – Trading Levels
Support   Resistance
67.66          70.04
66.92         70.78
65.73         71.97
Key Trading Level: 68.85

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

Related Articles

Comments

0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

HFM

Doo Prime

XM

Best Forex Brokers