Check out the news that happened in the last 24 hours

  1️⃣ Yesterday's main news

 - "Small Non-Farming" hits a new low since February.

 Fed Brad: Should end bond purchases in the first quarter of 2022.

 - Fed Vice Chair Clarida: Fed will announce debt relief later this year.

 - Crude oil inventories at the US EIA unexpectedly increased sharply last week.

 - The US Treasury Department will cut the issuance of Treasury bonds with interest rates as early as November.

 - Saudi Arabia raised official prices for all oils in September.

 - US Senator Warren praises Brainard for attacking Powell.

 - The U.S. Senator has filed amendments to the Cryptocurrency tax provisions of the Infrastructure Act.

 2️⃣ Today's Financial Facts and Data

 - the Bank of England will announce its decision on interest rates and the market generally expects the bank to maintain its dovish stance.  Since the Bank of England's policy meeting, this week will not provide policy guidance, the Bank of America does not expect the Bank of England to send any clear signals.  Market attention will turn to the number of committee members who voted to end QE early.  The Monetary Policy Committee is expected to vote 6-2 in favor of maintaining the current bond-buying plan.  However, some bank officials have recently suggested that monetary policy could be tightened sooner than expected, raising the possibility of an unexpected end to UK government bond purchases.

 - the number of initial jobless claims from the United States through July 31 is expected to increase by 384,000, with the previous value increasing by 400,000.

 - Fed Governor Waller gave a speech on central bank digital currency.

📕 Comment on Gold on August 5, 2021:

In yesterday's trading session, we saw the following 2-way sweep of precious metal Gold, after rising to 1831 Gold fell back to 1806, closing the day with a bullish candle with a decent beard.  long term and if looking closely, the price is still in the sideways zone and hasn't changed much so my view on precious metal Gold today is still the same as yesterday.

We will continue to trade in its sideways range.  Establish a buy position when Gold reaches around the 1805-1808 support and consider selling when the price approaches the 1818-1820 resistance.

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