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Gold and Oil Markets Report – 7 September 2015

A guest post written by DAR Wong and Chong HC

Gold prices continue to decline in correction range as profit-taking activities increased last week. Oil prices traded sideways around 45.00 levels for whole of last week. Russia Deputy Prime Minister says they will not cut supply in oil production despite current low prices. Saudi Arabia government also stresses they are capable to manage the lowering prices of Crude and will not reduce daily production.

Crude Oil

WTI Crudes are slowly narrowing in prices while forming a triangle formation. Technical sideways will move from 42.50 - 50.00 ranges in coming week with no definite clue of fundamental leads. The trend may move into either direction by either hitting double bottoms or piercing above 50.00 to attempt for 53.00 as next targets. However, Dollar strength will play important role in leading the energy prices in...

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American Non-Farm Payroll Slows Down

A guest post written by DAR Wong

Currency Market Observations - 7 September 2015

Fundamental Outlook

The U.S. nonfarm payroll grows at slower pace while jobless claims increase. Japan faces stagnation in growth as investors expect more stimulus to follow through. European Central Bank holds the refinance rate steady amid low borrowing cost. Construction and housing are expected to regain recovery in U.K. economy.

The U.S. Institute of Supply Management reports the manufacturing index expanded at 51.1 in August but still below forecast. Reading above 50.0 still indicates an expansion of economy growth. Construction spending in July grew 0.7 percent compared to revised 0.7 percent in previous month.

The U.S. weekly claims for jobless benefits rose to 282,000 in the week ended 29 August, from revised 280,000 from previous week. Trade deficits narrowed in July to USD41.9 billion, smallest in past 5 months, compared to ballooning...

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