Asad Rizvi
Yesterday market focus shifted towards UK inflation report, as Mark Carney showed optimism about future growth prospect with unemployment getting smaller space in his discussion that fell at a much faster pace than expectation. The message is clear that if growth picks up earlier than anticipated and with declining unemployment trend, it will inflate UK economy, which means interest rate adjustment will required at same pace or in other words the early rate hike is possible.
Meanwhile, it was quite day with no major data in USA. But today it is going to be a busy day, as we have already see Australian Dollar bashing after poor jobs data. German Harmonized CPI, ECB Monthly Report and specially batch of data due to be released from USA will give more direction. However, Yellen's speech in Senate today will be watched with keen interest for more clues on FED's future stance.
GMT 3:09 - GOLD @ $ 1291 = As the down move did not occur gold may hold $ 1285-87 levels in Asia and break $1295 to test $ 1298-00 zones. Break would risk to challenge $ 1305, probably not is Asia and may correct. Market will remains an choppy and needs to fall below $ 1280-82 for more losses.
GMT 3:14 - EURO @ 1.3614 = Euro needs to push beyond 1.3625-30 for a test of 1.3655-65 zones. However unless breaks 1.3698, risk is on the downside. A move below 1.3580-85 will encourage for 1.3565.
GMT 3:14 - EURO @ 1.3614 = Euro needs to push beyond 1.3625-30 for a test of 1.3655-65 zones. However unless breaks 1.3698, risk is on the downside. A move below 1.3580-85 will encourage for 1.3565.
GMT 3:20 - GBP @ 1.6618 = Mood has certainly turned Bullish and buyers are expected to pick on dip as long as 1.6520-30 holds. GBP has support around 1.6580 and should hold for a test of 1.6665-75 zones.
GMT 3:22 - JPY @ 102.28 = JPY is likely to hang around 101.80 - 102.60.
GMT 3: 27 - AUD @ 0.8943 = Aussie plunged and may struggle to move move beyond 0.8980-90 and could dip to test 0.8905 zones. Failing to hold support levels risks for test of 0.8870-80 zones.
DISCLAMER : The commentary/information presented is not intended for trading purpose. The idea is to exchange views with the members/readers. Therefore, I accept no responsibility or liability for any losses incurred due to position taking.
ReplyDeleteGMT 3:09 - GOLD @ $ 1291 = As the down move did not occur gold may hold $ 1285-87 levels in Asia and break $1295 to test $ 1298-00 zones. Break would risk to challenge $ 1305, probably not is Asia and may correct. Market will remains an choppy and needs to fall below $ 1280-82 for more losses.
EURO @ 1.3614 = Euro needs to push beyond 1.3625-30 for a test of 1.3655-65 zones. However unless breaks 1.3698, risk is on the downside. A move below 1.3580-85 will encourage for 1.3565.
ReplyDeleteGBP @ 1.6618 = Mood has certainly turned Bullish and buyers are expected to pick on dip as long as 1.6520-30 holds. GBP has support around 1.6580 and should hold for a test of 1.6665-75 zones.
ReplyDeleteJPY @ 102.28 = JPY is likely to hang around 101.80 - 102.60.
ReplyDeleteAUD @ 0.8943 = Aussie plunged and may struggle to move move beyond 0.8980-90 and could dip to test 0.8905 zones. Failing to hold support levels risks for test of 0.8870-80 zones.
ReplyDeleteGOLD @ $ 1286 = Buy around $1284-86, apply Stop around $ 1280-82.....
ReplyDeleteCurrencies = View unchanged..........
ReplyDeleteHi sir
ReplyDeleteHold the Euro Long ?
Thank you
EURO 1.3674 has hit the target I would suggest taking profit and short around 1.3690 with Stop Loss 1.3730................
ReplyDeleteGOLD @ $ 1293.50 = Suggest taking profit around $ 1293.50--95.....cheers
ReplyDeleteGoldto test 1298-00 if holds $ 1288
ReplyDeleteGBP @ 1.6670 = Book you profit around 1.6670-80....cheer
ReplyDeleteBuy Gold around $ 1290-92 withn Stops $ 1287....
ReplyDeleteeuro sold at 1.3690 stop 1.3730 is it ok ?
ReplyDeleteYes, pd..............Good luck
ReplyDeletewhere should book profit ?
ReplyDeleteEURO @ 1.3663 = Needs to break 1.3655-60 for 1.3640 or else another test of 1.3680-90 is possible...............
ReplyDeleteOk pals, it was short but sweet. End of a fine day.
ReplyDeleteCheers until tomorrow.................