Market Reviews of the Previous Day:
During NY session on 18 August, USD fell against major currencies. Due to weak U.S. economic data and concerns that banks around Europe risk aversion, the euro lowered sharply, Canadian, Australian and New Zealand and other commodity-related currencies also lowered sharply.
The whole structure of the foreign exchange market continued the previous big technology trends. There are still many uncertainties. Wide range of recent shocks repeatedly maintained.
International Gold is closed strongly upwards. Due to the poor performance of U.S. economic data while the European Central Bank provided the euro area a bank loan of USD that highlighted the euro area financial system faced funding shortages. European and American stock market crashed that's why a lot of money flow into gold and U.S. Treasury for hedging.
Key Economic Data and Events:During NY session on 18 August, USD fell against major currencies. Due to weak U.S. economic data and concerns that banks around Europe risk aversion, the euro lowered sharply, Canadian, Australian and New Zealand and other commodity-related currencies also lowered sharply.
The whole structure of the foreign exchange market continued the previous big technology trends. There are still many uncertainties. Wide range of recent shocks repeatedly maintained.
International Gold is closed strongly upwards. Due to the poor performance of U.S. economic data while the European Central Bank provided the euro area a bank loan of USD that highlighted the euro area financial system faced funding shortages. European and American stock market crashed that's why a lot of money flow into gold and U.S. Treasury for hedging.
GMT+8 14:00 Germany Producer Price Index (July);
GMT+8 17:00 Canada Consumer Price Index (July);
Gold:
Gold opened at 1791 USD on 18 August, with intra-day Low at 1784.40 USD and intra-day High at 1828.55 USD, eventually closing at 1824.59 USD. Intra-day range of 44.15 USD was seen.
Gold moved strongly upward last night. The flow after adjustment is matched with the market sentiment. It was broke through the recent anticipation interval.It is continued the upstream after early trading in Asian City.
Trading of Gold can be maintained unchanged. If the price needs to be going upwards, it needs to be adjustment within 1 to 2 months.
The price will oscillated at high pace and maintain upstream. There will be a new high when gold is adjusted in the major restructuring cycle.
Trading suggestions:Gold opened at 1791 USD on 18 August, with intra-day Low at 1784.40 USD and intra-day High at 1828.55 USD, eventually closing at 1824.59 USD. Intra-day range of 44.15 USD was seen.
Gold moved strongly upward last night. The flow after adjustment is matched with the market sentiment. It was broke through the recent anticipation interval.It is continued the upstream after early trading in Asian City.
Trading of Gold can be maintained unchanged. If the price needs to be going upwards, it needs to be adjustment within 1 to 2 months.
The price will oscillated at high pace and maintain upstream. There will be a new high when gold is adjusted in the major restructuring cycle.
The market will test the validity of a breakthrough at USD1814.43. Should pay attention the target has been close to achieving since form August 15. Short term of trading of buy in can be held with stop loss below USD 1814.40.
No comments:
Post a Comment