Market Reviews of the Previous Day:
During NY session on 11 August, the dollar index was in range oscillation. Swiss franc fell sharply. The vice president of Swiss central bank said that
necessary measures will be taken to curb the rise of Swiss franc. At the same time the central bank may increase the mobility of the currency and allow the Swiss franc pegged to the euro.
The released U.S. weekly Initial Claims for Unemployment of last week fell, which pushed up the stock market, and the risk-aversion sentiment was weaken. The data from the U.S. Department of Labor on August 11 showed that this first time jobless claims, fell by 7,000 to 39.5 thousand, is the lowest level since early April, indicating that the recovery of the U.S. job market further improved.
Foreign exchange market basically continued the previous technical trend. There are still many uncertainties in the future. The recent wide range oscillation and fluctuation remained.
Key Economic Data and Events:
GMT+8 17:00 Eurozone Industrial Production (June);
GMT+8 20:30 U.S. Retail Sales (July);
GMT+8 22:00 U.S. Business Inventories (July).
The rise of gold in the medium-term has finished. It takes at least 1-2 months adjustment before it rises further.
In a short-term trend, there will still be 5 trading days with high oscillation or upward movement partially.
In terms of a short-term trend, gold is in high level adjustment. It is estimated gold may maintain the high oscillation or the upward movement partially in
the middle of next week.
Gold moved in a large adjustment cycle. There may be higher record.
Trading suggestions:
Positions could be closed after achieving the medium-term target. There will be a large adjustment. If secondary adjustment appeared in short-term, long position could be considered. The recent wide range oscillation may be at 1720-1814 USD.
During NY session on 11 August, the dollar index was in range oscillation. Swiss franc fell sharply. The vice president of Swiss central bank said that
necessary measures will be taken to curb the rise of Swiss franc. At the same time the central bank may increase the mobility of the currency and allow the Swiss franc pegged to the euro.
The released U.S. weekly Initial Claims for Unemployment of last week fell, which pushed up the stock market, and the risk-aversion sentiment was weaken. The data from the U.S. Department of Labor on August 11 showed that this first time jobless claims, fell by 7,000 to 39.5 thousand, is the lowest level since early April, indicating that the recovery of the U.S. job market further improved.
Foreign exchange market basically continued the previous technical trend. There are still many uncertainties in the future. The recent wide range oscillation and fluctuation remained.
August 11, international gold closed lower, due to the positive U.S employment figure and the improved European debt issue. The risk sentiment increased. In addition to the technical factors, gold surged and then retreated.
The market sentiment changes may still be in focus.Key Economic Data and Events:
GMT+8 17:00 Eurozone Industrial Production (June);
GMT+8 20:30 U.S. Retail Sales (July);
GMT+8 22:00 U.S. Business Inventories (July).
Gold：
Gold opened at 1793.81 USD on 11 August, with intra-day Low at 1733.00 USD and intra-day High at 1814.43 USD, eventually closing at 1764.22 USD. Intra-day range of 81.43 USD was seen.
Since investors took profit and the margin of gold increased, combined with the technical requirements, gold surged and then retreated on Thursday.Gold opened at 1793.81 USD on 11 August, with intra-day Low at 1733.00 USD and intra-day High at 1814.43 USD, eventually closing at 1764.22 USD. Intra-day range of 81.43 USD was seen.
The rise of gold in the medium-term has finished. It takes at least 1-2 months adjustment before it rises further.
In a short-term trend, there will still be 5 trading days with high oscillation or upward movement partially.
In terms of a short-term trend, gold is in high level adjustment. It is estimated gold may maintain the high oscillation or the upward movement partially in
the middle of next week.
Gold moved in a large adjustment cycle. There may be higher record.
Trading suggestions:
Positions could be closed after achieving the medium-term target. There will be a large adjustment. If secondary adjustment appeared in short-term, long position could be considered. The recent wide range oscillation may be at 1720-1814 USD.
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