Chancellor Angela Merkel wants to wrap up trade talks with the U.S., Turkey will receive a second installation of Russian S-400 missile defenses, & President Trump tried to woo China.
U.S. President Donald Trump offered an olive branch to China on Monday after days of intense feuding over trade and opened the door to diplomacy on Iran, easing tension on the last day of a strained G7 summit. Affects Gold
The rejection of international law is on the rise, Iranian Foreign Minister Mohammad Javad Zarif said on Monday, during a meeting in Beijing with the Chinese government’s top diplomat, State Councillor Wang Yi. Affects Brent
Chancellor Angela Merkel told reporters on Monday, Germany wants the European Union to reach a trade agreement with the United States as quickly as possible. Affects EUR
Defence Minister Hulusi Akar said on Monday according to state-owned Anadolu news agency, Turkey is to accept delivery of a second battery of Russian S-400 missile defenses beginning on today. Affects TRY
An economist at Germany’s Ifo economic institute said on Monday, Germany is facing a recession, as the institute’s business climate index fell to its lowest level since August 2012. Affects EUR
The U.S.’s CB Consumer Confidence for August will be released. Conference Board (CB) Consumer Confidence measures the level of consumer confidence in economic activity. Affects USD.
After the United States and China exchanged another increase in trade tariffs, Trump spoke about Beijing’s desire to sit at the negotiating table. This news reduced the tension of the markets and led to a sharp decline in the price of gold.
Against this background, a Pin-Bar candlestick pattern formed on the daily timeframe. Quotes may continue to decline.
The Bitcoin chart formed the Double Bottom reversal pattern, which may help to strengthen the asset.
Until the quotes have fallen below the level of 65.60, deals should be considered for an increase.
USD/RUB on this day in history
- Since 2000 August 27th has been a trading day 12 times.
- On 58% of those days, the asset ended with growth.
- The maximum reinforcement range was 0.65%.
- The trend down was limited to 4.17%.