Market Reviews of the Previous Day:
During NY session on 14 September, the dollar had certain decline, boosted by some positive news. The sell-off of the euro against the dollar has been suspended, but the market was cautious.
German Chancellor Angela Merkel and French President Nicolas Sarkozy said and believed that Greece will not withdraw from the Eurozone, but in the absence of a viable measure, the market was still unstable.
The current foreign exchange market basically continued the previous technical trend.
September 14, international gold closed slightly lower. The urgent needs of solving the debt crisis have pushed investors to return to the high-risk market and the dollar remained steady. European Commission President Jose Manuel Barroso said the EU Commission will soon announce the launch the program of the European bond.
Key Economic Data and Events:
GMT+8 16:30 UK Retail Sales (August);
GMT+8 17:00 Eurozone Consumer Price Index (August);
GMT+8 20:30 US Consumer Price Index (August);
GMT+8 20:30 US Current Account (2nd quarter);
GMT+8 20:30 US Initial Jobless Claims (September 10);
GMT+8 21:15 US Industrial Production (August).
Gold:
Gold opened at 1834.80 USD on 14 September, with intra-day Low at 1809.38USD and intra-day High at 1844.47USD, eventually closing at 1820.87 USD. Intra-day?range of 35.09 USD was seen.
Gold narrowed the volatility on Wednesday. It recovered in short-term without further momentum. The current range of fluctuation is decreasing. The consolidation pattern appeared in the daily chart.
The current resistance is at 1845 USD and the support is at 1790.
The two-side breakthroughs implied a certain range of movement. The further resistance is at 1885 and 1920, and the support is at 1703.
Trading suggestions:
The narrow fluctuation range is at 1845-1790. After being broken, a larger movement appeared.
During NY session on 14 September, the dollar had certain decline, boosted by some positive news. The sell-off of the euro against the dollar has been suspended, but the market was cautious.
German Chancellor Angela Merkel and French President Nicolas Sarkozy said and believed that Greece will not withdraw from the Eurozone, but in the absence of a viable measure, the market was still unstable.
The current foreign exchange market basically continued the previous technical trend.
September 14, international gold closed slightly lower. The urgent needs of solving the debt crisis have pushed investors to return to the high-risk market and the dollar remained steady. European Commission President Jose Manuel Barroso said the EU Commission will soon announce the launch the program of the European bond.
Key Economic Data and Events:
GMT+8 16:30 UK Retail Sales (August);
GMT+8 17:00 Eurozone Consumer Price Index (August);
GMT+8 20:30 US Consumer Price Index (August);
GMT+8 20:30 US Current Account (2nd quarter);
GMT+8 20:30 US Initial Jobless Claims (September 10);
GMT+8 21:15 US Industrial Production (August).
Gold:
Gold opened at 1834.80 USD on 14 September, with intra-day Low at 1809.38USD and intra-day High at 1844.47USD, eventually closing at 1820.87 USD. Intra-day?range of 35.09 USD was seen.
Gold narrowed the volatility on Wednesday. It recovered in short-term without further momentum. The current range of fluctuation is decreasing. The consolidation pattern appeared in the daily chart.
The current resistance is at 1845 USD and the support is at 1790.
The two-side breakthroughs implied a certain range of movement. The further resistance is at 1885 and 1920, and the support is at 1703.
Trading suggestions:
The narrow fluctuation range is at 1845-1790. After being broken, a larger movement appeared.
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