Market Reviews of the Previous Day:
During NY session on 15 June, the worries of debt crisis in Greece dragged down the currency. The weakness of Euro was seen. Investor worried that when these problems could not be resolved, with the consequence of the breach of the contract, it affected the European banking sectors. In addition, the weak U.S. economy data prompted investors to buy dollar, yen and Swiss franc as a hedging behavior.
GMT+8 15:15 Switzerland Industrial Production (1st quarter)
GMT+8 15:30 Swiss National Bank interest rate decision value, with pre-value 0.25%
GMT+8 16:30 UK Retail Sales (May)
GMT+8 16:45 Eurozone Consumer Price Index (May)
GMT+8 20:30 U.S. Housing starts (May)
GMT+8 20:30 U.S. Building Permits (May)
GMT+8 20:30 U.S. Current Account, with pre-value $113.3 billion USD (1st quarter)
Gold:
Gold opened at 1523.20 USD on 15 Jun, with intra-day Low at 1514.52 USD and intra-day High at 1533.76 USD, eventually closing at 1531.42 USD. Intra-day range of 19.24 USD was seen.
The current partial oscillation range is between 1533 and 1511 USD. The lower levels are at 1505, 1472.6 and 1462.
The long-term trend of gold is in contradiction with the form of medium-term, and there are many uncertainties. However, before the end of this long-term uptrend, we can maintain the idea of bullish in long-term.
We can temporarily determine the pattern as a wide range oscillation in short and medium-term. Wide range is located between 1460 and 1576 USD. Due to the loss of the upward momentum, and the previous suppression of the technical indicators, gold retreats with higher possibility.
Trading suggestions:
The partial oscillation range is between 1533 and 1511 USD. Range trading is temporarily suggested. During the market turmoil, investors could pay attention to position management rather than opening positon.
During NY session on 15 June, the worries of debt crisis in Greece dragged down the currency. The weakness of Euro was seen. Investor worried that when these problems could not be resolved, with the consequence of the breach of the contract, it affected the European banking sectors. In addition, the weak U.S. economy data prompted investors to buy dollar, yen and Swiss franc as a hedging behavior.
June 15, international gold closed slightly higher. It was the impact of the escalating debt problems in Euro and fears of inflation. As the disputes varied among European countries over providing the second round of financial aid to Greece, the concerns of investors on debt problems were growing. The market risk aversion spread, thereby supporting the gold price.
Key Economic Data and Events:GMT+8 15:15 Switzerland Industrial Production (1st quarter)
GMT+8 15:30 Swiss National Bank interest rate decision value, with pre-value 0.25%
GMT+8 16:30 UK Retail Sales (May)
GMT+8 16:45 Eurozone Consumer Price Index (May)
GMT+8 20:30 U.S. Housing starts (May)
GMT+8 20:30 U.S. Building Permits (May)
GMT+8 20:30 U.S. Current Account, with pre-value $113.3 billion USD (1st quarter)
Gold:
Gold opened at 1523.20 USD on 15 Jun, with intra-day Low at 1514.52 USD and intra-day High at 1533.76 USD, eventually closing at 1531.42 USD. Intra-day range of 19.24 USD was seen.
Gold on Wednesday, the impact of Greece debt crisis continued. The oscillation range remained between 1533 and 1511 USD.
The market pattern was in strong repetition.The current partial oscillation range is between 1533 and 1511 USD. The lower levels are at 1505, 1472.6 and 1462.
The long-term trend of gold is in contradiction with the form of medium-term, and there are many uncertainties. However, before the end of this long-term uptrend, we can maintain the idea of bullish in long-term.
We can temporarily determine the pattern as a wide range oscillation in short and medium-term. Wide range is located between 1460 and 1576 USD. Due to the loss of the upward momentum, and the previous suppression of the technical indicators, gold retreats with higher possibility.
Trading suggestions:
The partial oscillation range is between 1533 and 1511 USD. Range trading is temporarily suggested. During the market turmoil, investors could pay attention to position management rather than opening positon.
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