It’s been a while since I don’t post a gold chart, and circumstances are interesting enough to do it: this is a daily chart. As you can see, the metal corrected almost the 61.8% of the last daily bearish rally, from historical high, to December lows, around 1074. Yesterday that zone halted the downside, but we are very close to the level. I’ve read rumors around saying Central Banks like China or India are interested to buy around 1050/80 to increase their reserves. Keep in mind just rumors! Anyway, I will expect some fast fall if we get under that area, with next strong supports at 1062, 1054 and 1031. To the upside, 1100 is the level to watch, ahead of 1115.

U.S. stocks are falling strongly with gold also falling and breaking under yesterday’s lows, and quoting at $ 1123/oz. Dollar and yen are running higher across the board, as risk aversion bites. We have crude oil inventories in 5 minutes: a strong reading there could exacerbate current movements.

Commodities keep falling a bit more strongly now, with oil losing almost $ 1.00, while gold is $ 10.00 down testing the $ 1130/oz area after reaching a $ 1140 high yesterday. Euro and Pound are losing ground and as expected USD/JPY keeps rising approaching to the 93.00 area. Seems volume is back after holidays, and traders are ready to move.

Gold is losing ground quickly and dollar is up across the board. Commodity currencies are quickly losing ground, with AUD/USD turning negative on the day as the pair approached to 0.9100 zone, (next supports come at 0.9070 and 0.9030 area) while USD/CAD is fighting around the 1.0400 as oil refuses to fell from $ 81 a barrel.
Gold reached an intraday low of $1115 at the moment of writing, still far from yesterday’s opening around $ 1100/oz, also well under the $ 1129 reached during past Asian session. Risk sentiment continues to be the main driver of currency markets today, with dollar regaining the upside also against European currencies, after yesterdays’ fall. EUR/USD reached an intraday low of 1.4345 and remains close to that zone and tending lower, afterbreaking the 1.4365 level; next support come at 1.4320 area. GBP/USD holds around the 1.5980 area, still with chances to test the 1.5940 zone.  USD/CHF rose to 1.0350 area, where daily 20 SMA is capping the upside.
Only Japanese Yen remains positive on the day agaisnt greenback, after Japanese Prime Minister Fujii resign early today, yet slowly regaining the upside. Watch the 91.80 zone there.

U.S. data print a better than expected reading, helping dollar across the board, at least in this first spike; gold and oil, however are not giving up an inch, halting further dollar rallies. U.S. stocks are higher, as ISM print a 55.9 reading, above the 53.6 previous month and the 54.1 expected.

Hi everyone and welcome to this blog! New year started with a weak dollar, losing ground against major rivals, in what still could be consider mostly corrective after last December rally, mounted on hopes better U.S. data will prompt the FED to start rising rates sooner than expected.

However, European majors were supported by early Europe data:euro zone’s purchasing managers index for manufacturers rose to 51.6 from 51.2, as initially estimated, sending Euro close to 1.4400, while Pound regained early Asian loses after Manufacturing PMI rose above expectations to 54.1 from 51.8, and quotes back above 1.6200. Also, gold is up, almost $ 1120/oz, while oil break above $80 per barrel, favoring commodity currencies like AUD and CAD.

This week is full of U.S. data, including last Payrolls of 2009, so market will be waiting for that to decide further midterm trends. Here is the link for todays’ calendar:

http://www.fxstreet.com/fundamental/economic-calendar/

Have a great day!

Gold and Oil are losing some ground now, despite still positive in the day. Gold quotes around $ 1104/oz, while oil is near $ 80 per barrel; commodity currencies are giving up some ground, with Aud and Cad falling against greenback, while Pound managed to print a fresh high at the 1.6210 area at this moment. GBP/JPY approaches to key 150.00 level, yet seems Pound will remain being the shinning star of the day.

Dollar is recovering ground as expected after the U.S. report, with USD/JPY approaching to key 91.85 area, with next level to watch at 92.40. GBP/USD is at 1.5960, key support watch for an acceleration to 1.5920. EUR/USD is testing 1.4400, likely to extend the downside if breaks under 1.4380.

Gold at $ 1100/oz also support dollar rises. Let’s see if AUD manages to break lower and test the 0.8940 level giving greenback further support.

Hi everyone, how is this holiday treating you all? Hope very well! Dollar is down across the board waiting for fresh U.S. data, under pressure  due to some risk appetite reaching markets as stocks around the world run higher. Commodity currencies are more than strong today, with AUD reaching the 0.8940 key level against greenback, despite gold is down an testing 1102 support; maybe the reopening of Australian market has something to do with that.  USD/CAD reached 1.0400, exactly the base of the range. Both zones are quite strong, I will add some charts.

I’m still watching the EUR/CHF, and the lack of mesures to prevent Swissy strength is another factor weighting against greenback. EUR/USD reached the 1.4135 level, the 23.6% retracement of the daily fall, I will also add the chart, while Pound tested teh 1.6060 area and retreat to 1.6000. We have some macro reports today in the U.S. let’s see what reaction they trigger in market. Here is the link for today’s calendar:

http://www.fxstreet.com/fundamental/economic-calendar/

Have a great day!

With U.S. opening, dollar is slightly up, while gold slightly down, still nothing serious, as forex volume remains more than thin. Anyway, here is the majors’ hourly perspective for this session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-12-28.html