Good morning everyone! Lets see the #IronFX main points for today by Marshall Gittler: • #Gold collapses as fears about the future fade further – Breaks out of its trading range on the downside, causing technical selling – Fundamental factors include: #US stocks hitting record, Ukraine tensions falling after the election, good US data, falling demand from India and China – In the background: decline in volatility in all asset classes reduces perceived need for a safe-haven asset – Technical and fundamental pictures both now negative for gold • #Dollar stable to higher against almost all currencies – Better-than-expected US data underpinning #USD rally – GBP main loser after mortgage approvals decline – EUR/USD remains in last week’s trading range despite European Parliament elections • Today: – #Eurozone: M3 money supply for April: lending figures will be the key. Will bank lending rise from March’s -2.2% yoy decline? Or total credit, which fell record 2.5% yoy? German #unemployment for May expected unchanged at 6.7% – US: weekly #MBA mortgage approvals Join us to stay up to date on #Forex : ironfx/en/research-and-analysis/market-analysis/daily-commentary
Posted on: Wed, 28 May 2014 05:49:03 +0000
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