BetOnMarkets Daily Market Report (15th April)
April 15, 2013 9:12 amVideo
Latest News
- Analysis of EUR/USD pair on May 24, 2024 May 24, 2024
- Analysis of GBP/USD pair on May 24th. Another British report showed weakness, but who cares? May 24, 2024
- USD/JPY: Simple trading tips for novice traders on May 24th (US session) May 24, 2024
- GBP/USD: Simple trading tips for novice traders on May 24th (US session) May 24, 2024
- EUR/USD: Simple trading tips for novice traders for May 24th (US session) May 24, 2024
- GBP/USD: trading plan for the US session on May 24th (analysis of morning deals). Sellers missed 1.2700 May 24, 2024
- EUR/USD: trading plan for the US session on May 24th (analysis of morning deals). The euro is not going to give up May 24, 2024
- EUR/USD. May 24th. The bears are starting to go on the offensive May 24, 2024
- Forecast of GBP/USD pair on May 24, 2024 May 24, 2024
- Trading Signals for EUR/USD for May 24-28, 2024: sell below 1.0864 (200 EMA – 21 SMA) May 24, 2024
- Trading Signals for GOLD (XAU/USD) for May 24-28, 2024: buy above $2,333 (200 EMA – oversold) May 24, 2024
- Weekly Forex Outlook: 24/05/2024 – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – Is the pause in NGAS a warning signal? May 24, 2024
- Technical Analysis – USDCAD eases slightly after bullish rally May 24, 2024
- Week Ahead – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – GBPJPY continues its journey north May 24, 2024
- Video market update for May 24, 2024 May 24, 2024
- Forex forecast 05/24/2024: EUR/USD, GBP/USD, USD/CAD, Gold and Bitcoin from Sebastian Seliga May 24, 2024
- USD/JPY: trading tips for beginners for European session on May 24 May 24, 2024
- GBP/USD: trading tips for beginners for European session on May 24 May 24, 2024
Gold plunges into bear market
Morning Report: 08.30 London
• This morning gold has continued to sell off, as speculation mounts that Cyprus and other troubled nations may have to sell off their gold reserves to fund bailouts. The precious metal is down another 2.59% today, adding to Friday’s severe decline. Gold now looks hugely oversold in the short term, but in the medium term the sell off is yet to reach extreme levels.
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• Elsewhere, commodity related pairs are selling off after Chinese economic data fell well below expected levels. GDP came in at 7.7%, with industrial production dropping to 8.9%.
• The NZD/USD and AUD/JPY are down around 0.8%, with the AUD/USD down 0.66%.
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Coming up today:
• Coming up today, we have European trade balance figures.
• US empire state manufacturing follow at 13.30.
Bet Idea:
• Sentiment against gold is reaching extreme levels based on short term moves, while the Hulbert Gold Sentiment Index has reached record lows. With enforced selling of gold reserves on the cards, the macro political system could warrant such a sell off in the medium term, but in the short term (over the next 7 days) there could be room for a bounce here.
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• A HIGHER trade on Gold to be above $1475 in 7 days time could return 238% if successful.
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This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
Summary
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