Fifth Avenue store spaces are empty. New York is looking vacant. Crude rally extends into the 7th. Saudi still tough on cuts. US and Russia negotiating over Syria. Geopolitical tensions stay high. As a barrel of West Texas Intermediate for May delivery was trading at $53.69 as of 5:23 AM Eastern Time, the highest level in over a month, Gold/ XAUUSD remains the safe haven.
Worries over Syria and North Korea sent gold and 10-year Treasury yields to their best levels since November on Tuesday. In Asia, gold continued to rise and the yen hit fresh five-month highs against a host of other currencies as investors continued to move money out of risky assets.
The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported. A higher than expected reading should be taken as positive/bullish for the CNY and Gold, while a lower than expected reading should be taken as negative/bearish for the CNY and Gold.
