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DXY: Daily Outlook

FxWirePro: EUR/USD trades lower on hawkish FOMC minutes and rising Italian bond yield, good to sell on rallies

FxWirePro: Norwegian krone trades marginally lower against euro, upside limited

FxWirePro: AUD/JPY rejected at daily cloud, scope for resumption of weakness below 5-DMA

FxWirePro: Gold halts 2-day gains as US dollar index and 10-year yield surges on hawkish Fed meeting minutes, good to buy on dips

FxWirePro: Nikkei declines as Fed meeting minutes points more rate hikes, good to sell on rallies

FxWirePro: AUD/USD edges higher, sharp drop in Australia jobless rate buoys Aussie

FxWirePro: USD/ZAR rejects key support at 14.10 mark, bias turns bullish again

FxWirePro: NZD/JPY Trade Idea

FxWirePro: USDCHF Trade Idea

FxWirePro: WTI slips below 69 mark, eyes 200-DMA at 67.36, stay short

FxWirePro: USD/SGD fails to break key support at 1.3730 mark, stay bullish only above 1.3790

FxWirePro: EUR/NZD holds 55-EMA support, 'Bearish Divergence' keeps scope for downside

FxWirePro: NZD/CHF extends break above 55-EMA, intraday bias bullish

FxWirePro: AUD/CAD edges above 21-EMA, continuation of bullish momentum to see test of 23.6% Fib at 0.9373

FxWirePro: NZD/CHF ignores 'gravestone doji' formation, bounces off 55-EMA support, bias higher

FxWirePro: Silver falls gradually against U.S. dollar, further downside movement likely

FxWirePro: Gold Vs US 10 year bond yields

Wednesday, January 3, 2018 5:53 AM UTC
0
comments
  • Gold jumped almost $17 from the yesterday low of $1304.50 and hits fresh three-month high.  The main reason for jump is due to weakness of US dollar. US dollar index is trading weak for the past 12 days and closed below neck line support for two consecutive days. It is currently trading around 91.88. The yellow metal jumped till $1321.50 and is currently trading around $1313.
     
  • US 10 year yield rose almost 3% from low of 2.40% on strong US stock market and  also due to slight jump in European bond yields after positive comment from ECB board member. US yield and gold have negative correlation of 65% for the past one year and 82% for the past four months. So any further jump in yields will drag the yellow metal down till $1287 (10 – day MA).
     
  • On the higher side, gold is facing strong resistance at $1321 and any break above will take the yellow metal till $1331/$1339 (161.8% retracement).
     
  • The near term support is at $1302 (5- day MA) and any violation below will drag the metal to next level till $1295 (7- day MA) /$1287 (100- day MA). Minor weakness below $1270 (200- day MA). Any break below $1270 will drag the gold till $1260/$1243/$1236 (Dec 12th 2017 low).

It is good to sell on rallies around $1315-17 with SL around $1322 for the TP of $1302/$1295.  

 

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Economics Monitor

October 18 14:30 UTC Released

USNat Gas-EIA Implied Flow

Actual

81 bcf

Forecast

Previous

90 bcf

October 18 14:30 UTC Released

USNat Gas, Change Bcf

Actual

81 Cubic feet

Forecast

82 Cubic feet

Previous

90 Cubic feet

January 31 00:00 UTC 375378375378m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 375378375378m

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 387198387198m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 375378375378m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 387198387198m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 375378375378m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 375378375378m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 375378375378m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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