I am VERY new to forex trading so perhaps this is a stupid question…
At present there is a lot of talk of the German unemployment figures and the ISM in America.
What affect will these have on the XAU/USD (that is all I am trading on at present)
If unemployment goes up, does gold go down?
If ISM results are good, does gold go down?
I am so confused :o
Gold has a strange relationship with things.
Usually when the dollar goes down, gold goes up. Unemployment usually goes down when the dollar strengthens, but not always.
Unemployment isn’t as big of a factor as inflation is.
As far as manufacturing, when manufacturing numbers go up, up goes equities. Equities go up, demand for gold goes down.
Watch the numbers this Friday. It will be interesting.
Okay…so in ‘theory’,
Germany’s unemployment rate goes up, Euro goes down, USD goes up, Gold goes down.
or alternatively
Germany’s unemployment rate goes down, Euro goes up, USD goes down, Gold goes up.
Oh, I am getting dizzy :o
Yes.
It is meaningless.
As a retail trader you are not equipped for information-flow and it’s uncertainty play.
Germany’s unemployment rate goes up, Euro goes down, USD goes up, Gold goes down.
[B]Aprox. 1.51 is the EURO maginot line.[/B]
Anything above 1.51 for a sustained amount of time would unhinge the Gold/EURO/AUD/Equities relationship.
If needed NFP day coming friday will get the news print out to put the Gold/EURO/AUD/Equities relationship in order. Just like last month.
Oh, I am getting dizzy :o
Forget about it. You don’t have a chance against the managed money and their 2010 positions already taken.