DailyFX.com –

Fundamental Forecast for Gold: Bullish

• Gold Price Slammed Lower; July Low Provides Support on the Day
• GOLD: Just How Important is this Move?
• Sign up for DailyFX on Demand For Real-Time Gold Updates/Analysis Throughout the Week

Gold prices retreated this week with the precious metal off by more than 1% to trade at 1090 ahead of the New York close on Friday. The pullback comes amid extreme volatility in broader risk assets with the major U.S. equity indices down nearly 9% since the start of 2016. Indeed gold seems to have regained its haven status in the near-term as traders seek shelter from the ongoing market turmoil and although prices were lower this week, bullion is still 2.74% in the black for 2016. read more

DailyFX.com –

Fundamental Forecast for the Kiwi: Bearish

• NZD/USD broke through the November lows as risk aversion around the world continued heating up throughout the week.
• Positioning remains stretched in the Kiwi-Dollar, indicating further losses may be down the road.
• If you’d like to follow positioning and sentiment changes on the Kiwi to get hints towards future movement in that market, check out our real-time SSI page (click here).

The New Zealand Dollar continues to display a tight relationship with the bigger overall macro-theme of China and the larger overall threat of an Asian slowdown. Since China began their most recent descent on the heels of the December rate hike out of the Federal Reserve, the Kiwi hasn’t held up well at all. Eleven of the past twelve days have seen the Kiwi trade lower against the greenback (for a total move of -6.3%), and if we match it up with the Yen, it’s even worse – with the same 11 of 12 tally but an even larger move lower; with a full -8.45% lost against the Yen over that 12-day sequence. read more