Market Reviews of the Previous Day:
During NY session on 12August, the dollar index oscillated; do not have a constant ratio to the main currencies. There is a low rate of USD to the Euro and to the pound but have a high rate on Swiss franc, Canadian dollar. Swiss central bank policy by which the Swiss franc and the Italian austerity plan is expected to influence, continued to drop.
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 down on August 12. As there was a good U.S. retail sales data which released on 12 Aug, the confidence of investor has been restored. Thereby easing the market risk aversion and leading the international gold prices fell for the second trading day. After a continuous rise the gold price is going into a period of adjustment.
Market may continue to focus on emotional changes.
Key Economic Data and Events:During NY session on 12August, the dollar index oscillated; do not have a constant ratio to the main currencies. There is a low rate of USD to the Euro and to the pound but have a high rate on Swiss franc, Canadian dollar. Swiss central bank policy by which the Swiss franc and the Italian austerity plan is expected to influence, continued to drop.
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 down on August 12. As there was a good U.S. retail sales data which released on 12 Aug, the confidence of investor has been restored. Thereby easing the market risk aversion and leading the international gold prices fell for the second trading day. After a continuous rise the gold price is going into a period of adjustment.
Market may continue to focus on emotional changes.
GMT+8 15:15 Switzerland in producer / import price index (July);
GMT+8 21:00 U.S. net capital inflows , before the long-term value of $ 23.6 billion (June);
Gold：
Gold opened at 1765.13 USD on 12 August, with intra-day Low at 1723.47 USD and intra-day High at 1767.79USD, eventually closing at 1746.44 USD. Intra-day range of 44.32 USD was seen.
Hedge market conditions weakened, with technical requirements. The rhythm moves down on Friday. The price is going into a period of adjustment.
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 adjust in the major restructuring cycle.
Trading suggestions:Gold opened at 1765.13 USD on 12 August, with intra-day Low at 1723.47 USD and intra-day High at 1767.79USD, eventually closing at 1746.44 USD. Intra-day range of 44.32 USD was seen.
Hedge market conditions weakened, with technical requirements. The rhythm moves down on Friday. The price is going into a period of adjustment.
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 adjust 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.
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