About: lishitong

Fundamental Analysis *Double Top? Gold’s long-term uptrend remains intact, though a technical correction and investor bargain hunting could be on the horizon ahead of key U.S. economic data and events. In the near term, technical charts reveal a potential double top formation in the gold market, hinting at the possibility of a short-term pullback. TechnicalContinue Reading

Fundamental Analysis *Dovish Fed: Gold prices have surged, breaking above the $2,500 mark, following dovish signals from the Fed hinting at an interest rate cut beginning in September and a softer dollar. At the Kansas City Fed’s annual symposium in Jackson Hole on Friday, Fed Chair Jerome Powell stated that “the time has come” toContinue Reading

Tuesday, 27 August 2024, 16:00 – US CB Consumer Confidence (Aug) The U.S. Conference Board Consumer Confidence Index rose to 100.3 in July 2024, up from a revised 97.8 in June. This growth was mainly driven by improved consumer expectations regarding future economic conditions, even as views on the present situation slightly weakened. The PresentContinue Reading

Fundamental Analysis *PMI Drag: The USD/CAD pair traded with a softer tone following the release of S&P Global’s PMI data. The flash estimate for the US Composite Purchasing Managers Index (PMI) slightly declined to 54.1 in August, still above the anticipated 53.5 but marking a four-month low from July’s 54.3. Additionally, Manufacturing PMI fell toContinue Reading

Fundamental Analysis *Deficit Drag: The Japanese Yen declined against the dollar after Japan’s trade deficit data weighed on the currency. Data released on Wednesday revealed that Japan’s Merchandise Trade Balance recorded a deficit of ¥621.84 billion in July, a sharp reversal from the ¥224.0 billion surplus in June and falling short of market expectations ofContinue Reading