European stocks register modest gains at the start of the week. US stock and bond markets closed on Monday in observance of Presidents’ Day. China is planning to cut taxes to revive economy. The troy ounce of the precious metal rose nearly $15 last week as investors continued to react to headlines surrounding the coronavirus outbreak. With the new week kicking off in a calm manner, the XAU/USD pair is consolidating last week’s gains. The pair, which dropped a session low of $1,578.90, was trading at $1,581.40, down 0.2% on the day. China voices commitment to battle coronavirus In an editorial piece written for China’s Communist Party’s magazine, China’s Finance Minister Liu Kun said that they are planning to cut taxes with an aim to provide companies more funds to eliminate the negative impact of the coronavirus outbreak on the economic activity. In the meantime, China’s Premier Li Keqiang told the Chinese state media that the epidemic control has shown an “active and improving” trend. Reflecting the improving risk sentiment, major European equity indexes are posting small gains on Monday. Nevertheless, the pair is unlikely to make a sharp move in either direction in the second half of the day as the trading conditions are expected to remain in thin amid the Presidents’ Day holiday in the US. Before the FOMC publishes the minutes of its last monetary policy meeting on Wednesday, the risk perception is likely to continue to impact the pair’s movements. Technical levels to watch for FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. FXStreet News share Read Next EUR/USD New York Price Forecast: Euro consolidates losses below 2019 low FX Street 2 years European stocks register modest gains at the start of the week. US stock and bond markets closed on Monday in observance of Presidents' Day. China is planning to cut taxes to revive economy. The troy ounce of the precious metal rose nearly $15 last week as investors continued to react to headlines surrounding the coronavirus outbreak. With the new week kicking off in a calm manner, the XAU/USD pair is consolidating last week's gains. The pair, which dropped a session low of $1,578.90, was trading at $1,581.40, down 0.2% on the day. China voices commitment to battle coronavirus In an… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
