Gold is trading below $1,700 once again and testing the 38.2 percent Fibonacci retracement support at $1,671, at the time of this article. The next support level is at $1,650 with an initial target at $1,610. Once the target is reached, then we can further analyze the price action to determine if there will be [...]
Euro/USD was advancing nicely above the 1.3000 resistance until U.S. House speaker Boehner said there has not been any substantial progress in the fiscal cliff talks. The currency pair quickly retreated to the 1.2940 support level. From the reaction of the markets on the latest news headlines, it looks like currency pair wants to move [...]
Overnight, European leaders cleared the path for the $34.4 billion Euro loan installment for Greece. As stated in yesterday’s article, the markets already priced in this latest bailout plan. Initially, Euro/USD gained some ground on the news but failed to stay above the 1.3000 resistance level. At the time of this article, Euro/USD is trading [...]
Hurricane Sandy will have a devastating impact on life and property. However, gauging its ultimate impact on an economy-still struggling to overcome the Great Recession but with substantial resources to overcome adversity-is far more complex than merely adding up insurance payouts and uninsured losses.
The Hong Kong Monetary Authority has been intervening to keep the HKD within the bottom of the established band of 7.75. In recent days, the strengthening of the RMB is causing a lot of hot money flow into the HKD. The interest rate in Hong Kong is basically at zero, which in theory would make [...]
[Download Chinese version] The fiscal cliff is a term used to describe the mandatory spending cuts and tax increases that begin in January 2013. This presents a conundrum for the United States government in either allowing the law to go into effect, and possibly drive the nation into a double-dip recession, or pass new legislation [...]
We are proud to share with everyone the analysis done by Dixon Fung for SAFE Magazine. [Click to Download PDF] SAFE Magazine is a division of SAFE under the PBOC the Central Bank of People’s Republic of China.
Fed Chairman Bernanke said he will keep rates low even if the economy picks up. He does not expect the economy to remain weak till 2015 but the accommodative policies will stay. He acknowledged that an overall stronger economy will benefit everyone even if the low interest rate policies hurts savers.
U.S consumer confidence rose to 70.3 compared to 60.3 from the previous month, far exceeding any forecast. Home prices also increased more than projections. However, the positive data failed to move the markets.
Euro/USD continues to move lower as European politicians remain deadlocked on the Eurozone bailout plan and China’s economic slowdown. The Euro/USD rally from the low of 1.2040 in late July was stalled at 1.3168. At the time of this article, the pair is trading around support at 1.2900. Stronger support levels come in at 1.2790 [...]