Tag Archives: education

How Much Air is Left in Gold Prices?

DailyFX.com –

How Much Air is Left in Gold Prices?How Much Air is Left in Gold Prices?

Fundamental Forecast for Gold: Neutral

The past six weeks have been brutal for Gold, and this was really sparked by rate hike expectations out of the Federal Reserve, as the top in Gold meshes well with the bottom in the US Dollar (both taking place on October 15th). But over the past six weeks, Gold is down by 11% and the dollar is only up by 8%; so this isn’t’ the only factor bringing pain to Gold prices. Numerous technical levels have given way, and Gold prices are sitting at six-year lows with very little support anywhere nearby. read more

Europe: There is Nothing Civil about Civil War, in Politics or Economics

DailyFX.com –

Europe: There is Nothing Civil about Civil War, in Politics or EconomicsEurope: There is Nothing Civil about Civil War, in Politics or Economics

Fundamental Forecast for Euro: Neutral

So how about that Euro, huh? After last week’s four-handle burst on the back of the ECB disappointment, many traders looked at this as a gift from markets: The potential to short the currency of an economy that’s facing significant headwinds without the ability to form a strong enough coalition to actually try to counter this weakness. This is yet another page in the story of what happens when a supra-national attempts to re-grow their economy. read more

Will the Chinese Yuan Stop Falling in the Week Ahead?

DailyFX.com –

Chinese Yuan CNY

NZD/USD NY Spot Close 6.53139

Will the Chinese Yuan Stop Falling in the Week Ahead?

Fundamental Forecast for the Yuan:Neutral to Bearish

In the past week, the Chinese yuan offshore exchange rate against the US Dollar has had little upside action, despite the US Dollar seeing higher volatility while breaking major technical support levels against other currencies. Mainly, this is because the offshore yuan exchange rate is still highly influenced by the onshore yuan rate, which is set to a peg versus the greenback, and is only allowed to float within +/-2% range. Once the People’s Bank of China, the Chinese central bank equivalent of the Federal Reserve, announced a new RMB weighting against a basket of currencies, only then did the USD/CNH rate find upward movement. read more