Market Reviews of the Previous Day:
During NY session on 15 August, Because of the Swiss central bank will likely set up the Swiss franc exchange rate target to inhibit the increasing rate that's why Swiss franc against the euro and USD fell the lowest in these two weeks. The euro rose to nearly the highest in these three weeks because investors expect French President Nicolas Sarkozy and German Chancellor Angela Merkel's meeting on euro zone's debt crisis will have positive results.
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 closed at high pace on 15 Aug, The poor performance of U.S. economic data and the USD index dropped which boost the price of gold and extend the oscillation. After a continuous rise the gold price is going into a period of adjustment.
Key Economic Data and Events:During NY session on 15 August, Because of the Swiss central bank will likely set up the Swiss franc exchange rate target to inhibit the increasing rate that's why Swiss franc against the euro and USD fell the lowest in these two weeks. The euro rose to nearly the highest in these three weeks because investors expect French President Nicolas Sarkozy and German Chancellor Angela Merkel's meeting on euro zone's debt crisis will have positive results.
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 closed at high pace on 15 Aug, The poor performance of U.S. economic data and the USD index dropped which boost the price of gold and extend the oscillation. After a continuous rise the gold price is going into a period of adjustment.
GMT+8 14:00 Germany before the second quarter, the value of GDP 1.5% / quarter;
GMT+8 16:30 UK consumer price index (July);
GMT+8 17:00 Eurozone trade balance (June);
GMT+8 17:00 The euro area before the second quarter GDP of 0.8% / quarter, 2.5% / year;
GMT+8 20:30 U.S. housing starts working (July);
GMT+8 20:30 U.S before the value of building permits, 624,000 (July);
GMT+8 21:15 U.S. industrial production of 0.2% (July).
Gold:
Gold opened at 1746.47 USD on 15 August, with intra-day Low at 1729.82 USD and intra-day High at 1766.24USD, eventually closing at 1765.78 USD. Intra-day range of 36.42 USD was seen.
The market is continued with the demand of the technical rhythm. The price is oscillated in high pace on Monday with not enough power on short term. After the energy of moving upward is consumed, it will go into an adjustment stage.
At present, the movement of upward will not continue. If the price needs to be going upwards, it needs to be adjustment within 1 to 2 months.
The trend in short-term will make the pace of gold into adjustment on high level. The upstream channel is expected to support around 1720-1715 from the beginning of July.
There will be a new high when gold is adjusted in the major restructuring cycle.
Trading suggestions:Gold opened at 1746.47 USD on 15 August, with intra-day Low at 1729.82 USD and intra-day High at 1766.24USD, eventually closing at 1765.78 USD. Intra-day range of 36.42 USD was seen.
The market is continued with the demand of the technical rhythm. The price is oscillated in high pace on Monday with not enough power on short term. After the energy of moving upward is consumed, it will go into an adjustment stage.
At present, the movement of upward will not continue. If the price needs to be going upwards, it needs to be adjustment within 1 to 2 months.
The trend in short-term will make the pace of gold into adjustment on high level. The upstream channel is expected to support around 1720-1715 from the beginning of July.
There will be a new high when gold is adjusted in the major restructuring cycle.
Price of gold will be moved in the wide range of 1720-1814, trading can be made in short term. If it moves below this range then the movement will be downwards.
No comments:
Post a Comment