Daily Archives: May 23, 2018

23May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

Comex Gold Signal

                                                                                    Comex Gold Signal

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Gold prices inched higher on Tuesday as increased risk appetite limited gains in the precious metal, keeping it close to the low for the year hit a day earlier. At 10:17AM ET (14:17GMT), gold futures for June delivery on the Comex division of the New York Mercantile Exchange was up just $0.40, or around 0.03%, to $1,291.30 a troy ounce. In the previous session, it slid to as low as $1,281.20, its weakest level since December 27. News that China plans to slash auto import tariffs eased concerns over the possibility of a Sino-U.S. trade war.
  • Brent oil prices were higher on Tuesday, as investors remained concerned about global supply and future output from Iran and Venezuela. Oil prices rose on Monday after Secretary of State Mike Pompeo said in an interview that the U.S. would demand major changes in Iran following America’s withdrawal from the nuclear deal, with the possibility of even tougher sanctions.
  • A U.N. monitoring group wants to enlist the help of the world’s biggest oil trading companies to enforce sanctions that cap the amount of crude and related products North Korea can import, the coordinator said. The U.N. Security Council ramped up sanctions last year after North Korea said it had conducted missile tests that put the U.S. mainland in range of its nuclear weapons. Under the restrictions, Pyongyang is limited to importing 4 million barrels of crude and 500,000 barrels of products a year.

ECONOMY NEWS

  • German prosecutors said on Tuesday that they had charged the first suspects in a widespread and long-running financial market tax scam that has cost taxpayers billions of euros. The 948-page indictment filed in Wiesbaden named the 67-year-old German lawyer Hanno Berger as one of the six charged, the court confirmed separately.
  • Prominent German economists opposed French President Emmanuel Macron’s euro zone reform proposals on Tuesday, dismissing them as risky and saying that the single currency bloc must not become a union in which liabilities were shared out. Macron wants to create a separate euro zone budget, appoint a finance minister and convert the bloc’s European Stability Mechanism emergency rescue fund into a European monetary fund.

Comex Gold Signal

23May
yen_bill-2-512

Forex Technical Analysis : Japanese Yen

JAPANESE YEN TECHNICAL ANALYSIS TALKING POINTS:

  • USD/JPY has vacillated, however it stays above numerous key close term bolsters
  • With enter central information in the offing, now won’t not be the best time to venture in
  • GBP/JPY’s viewpoint appears somewhat more downbeat

    The Japanese Yen is arranging an extremely unassuming fightback against the US Dollar following quite a while of tenacious bullishness towards the greenback.

    USD/JPY appears to be probably to have made some sort of best finally Monday’s intraday high. That came in at 111.39. The US Dollar has been declining since, some portion of a wide based retracement which has seen it bring down against the New Zealand and Australian Dollars as well, regardless of whether the Euro stays under a touch of weight because of political stresses in Italy.

    All things considered, it may not bode well to wager on a far reaching turnaround in US Dollar slant presently. USD/JPY’s retracement has been very unobtrusive and for the minute in any event appears to be constrained to a help zone got from the past huge pinnacles, which were made toward the beginning of February.

    23-1

    Regardless of whether these give route once a day, bolster in the vicinity of 109.00 and 110.00 looks genuinely strong. It appears to be likely that what we are seeing here is a touch of combination that Dollar bulls could honestly do with, having pushed the match’s force up to levels at which it was beginning to look a little overbought.

    The uncommitted may now do well to hold up until the point that business sectors have seen the minutes of the Federal Reserve’s last money related arrangement meeting. These are expected for discharge on Wednesday, or early Thursday morning for Asia Pacific financial specialists. On the off chance that they fortify the Fed stays by some separation the most forceful arrangement tightener in the created world, it’s difficult to see the US Dollar falling extremely far. Without a doubt such a message may encourage Dollar bulls to have another tilt at those Monday highs.

    A more tepid understanding of the Fed could see a more extensive slide USD/JPY. Anyway even the initial, 23.6% Fibonacci retracement of the ascent since early April comes somehow beneath the market at 109.79.

    23-2

    While that is secure the possibility of a more genuine Dollar inversion appears to be sparse.

    In the mean time the UK Pound likewise appears to have bested out against the Japanese cash this week, and its anticipation looks somewhat gloomier. Quick GBP/JPY center is around a group of presumably unobtrusive help at the current month’s lows.

    23-3

    Should that give route at that point there’s very little between the Pound and finish inversion of the move up from March.

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