Market Reviews of the Previous Day:
During NY session on 30 June, boosted by the speech of Trichet and the progress of the Greek debt, the euro hit a three-week high against the dollar. The raise of the U.S. debt ceiling created pressure on the dollar. On the other hand, market continued the technical trend and breakthroughs were not seen. There are still many uncertainties in the future.
GMT+8 15:30 Switzerland SVME Purchasing Managers' Index (June)
GMT+8 15:55 Germany Manufacturing PMI (June)
GMT+8 16:00 Eurozone Manufacturing PMI (June)
GMT+8 16:30 UK Manufacturing PMI (June)
GMT+8 17:00 Eurozone Unemployment Rate (May)
GMT+8 21:55 U.S. University of Michigan Consumer Confidence (June)
GMT+8 22:00 U.S. Construction Spending, pre-value 0.4%/month (May)
GMT+8 22:00 U.S. ISM Institute for Supply Management Manufacturing Index, pre-value 53.5 (June)
Gold:
Please remind that there were uncertainties and repetition in the market trend.
It is predicted that the current range of oscillation is between 1515 and 1491.
Before the change of gold's long-term uptrend, the whole pattern was in wide range oscillation.
Trading suggestions:
With short position at high price, investors could consider closing it at the range of 1515-1491. They could also consider buying near the downside range with stop-loss below 1491 and then long position could be prepared.
During NY session on 30 June, boosted by the speech of Trichet and the progress of the Greek debt, the euro hit a three-week high against the dollar. The raise of the U.S. debt ceiling created pressure on the dollar. On the other hand, market continued the technical trend and breakthroughs were not seen. There are still many uncertainties in the future.
June 30, international gold closed lower. The reason is that Greek Parliament has approved a fiscal austerity plan and the bill accompanied in a two-day vote respectively, coupled with the U.S. economic data better than expected. With less risk sentiment in the market, there were some withdrawals of buying for risk-aversion. Prices may still go sideways in short-term.
Key Economic Data and Events:GMT+8 15:30 Switzerland SVME Purchasing Managers' Index (June)
GMT+8 15:55 Germany Manufacturing PMI (June)
GMT+8 16:00 Eurozone Manufacturing PMI (June)
GMT+8 16:30 UK Manufacturing PMI (June)
GMT+8 17:00 Eurozone Unemployment Rate (May)
GMT+8 21:55 U.S. University of Michigan Consumer Confidence (June)
GMT+8 22:00 U.S. Construction Spending, pre-value 0.4%/month (May)
GMT+8 22:00 U.S. ISM Institute for Supply Management Manufacturing Index, pre-value 53.5 (June)
Gold:
Gold opened at 1511.57 USD on 30 Jun, with intra-day Low at 1498. 57 USD and intra-day High at 1514.10 USD, eventually closing at 1499.95 USD. Intra-day range of 15.53 USD was seen.
Suppressed by MA and the previous resistance, gold retreated gradually, closed with bearish candlestick.Please remind that there were uncertainties and repetition in the market trend.
It is predicted that the current range of oscillation is between 1515 and 1491.
Before the change of gold's long-term uptrend, the whole pattern was in wide range oscillation.
Trading suggestions:
With short position at high price, investors could consider closing it at the range of 1515-1491. They could also consider buying near the downside range with stop-loss below 1491 and then long position could be prepared.
No comments:
Post a Comment