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Gold and Oil Markets Report – 4 December 2017

A guest post written by DAR Wong and Chong HC

Crude Oil

WTI Crude prices traded mainly on high-side range of USD57 – USD59 /barrel after the OPEC news of continual supply cut with Russia. Oil prices might be resisted at USD60 /barrel as Dollar tends to rise towards mid-December upon projected rate hike. No clue for making a forecast in WTI Crude direction until it extends beyond the aforementioned tight range in near future.

Gold

Gold prices traded in corrective trend after topping USD1300 /oz last week. Market has revealed strong bargain hunting at USD1270 /oz and holds the trend within this range. This week, we foresee little change in the forecast as market will be swinging from USD1270 – USD1300 /oz range. However, breaking beyond the range in either direction needs to be controlled with risk management.

Silver

Silver prices dipped...

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Gold and Oil Markets Report – 20 November 2017

A guest post written by DAR Wong and Chong HC

Crude Oil

WTI Crude prices showed good support at USD55 /barrel last week though the market did not pierce above USD58 /barrel. The trend is trapped in mixed sentiment as international traders are tracking the outcome of political purge expanding in Saudi Arabia. This week, we predict the range pattern will remain not much changes as the month-end meeting of OPEC and non-OPEC producers will stay as prime focus.

Gold

Gold prices surged on Friday as Dollar receded. Market has formed a strong base below USD1280 /oz as bargain-hunting has cemented this demand area. This week, we forecast the trend will rise to USD1310 /oz and begin to draw market attention. Direction of Dollar is important as an inverse lead to the yellow metal. Breaking beneath USD1275 /oz level may need to abandon...

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American Housing Inflation Stays on Track

A guest post written by DAR Wong

Currency Market Observations - 20 November 2017

Fundamental Outlook

The U.S. housing inflation increases and opens higher chance of rate hike in December. China maintains in growth track. Britain persists in showing good inflation in consumer and producer prices.

The U.S. producer prices grew 0.4 percent in October on monthly basis and made highest record in past 6 months. Consumer prices rose 0.1 percent while core prices grew 0.2 percent in October, both matching the forecast.

Another report on U.S. retail sales gained unexpectedly on automobile purchases at 0.2 percent while core retail sales rose 0.1 percent below consensus. Weekly jobless claims rose to 249,000 for the week ended 11 November and highest in past 5 weeks.

American industrial production rose for second consecutive month in October by 0.9 percent after 0.4 percent gains in September. Building...

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Gold and Oil Markets Report – 6 November 2017

A guest post written by DAR Wong and Chong HC

Crude Oil

WTI Crude prices closed above USD55 /barrel on Friday while exhibiting bullish pattern. This week, we forecast the trend may surge higher to near USD58 /barrel before the bulls fizzle out. Support is expected to emerge at USD54 /barrel in case of drawdown but the market needs more positive fundamentals to support the demand. On the other hand, a firmer though gradual rising Dollar may not be ideal for the oil prices over short-term.

Gold

Gold prices are slowly making a correction though bargain-hunting is also entering the market. Technically speaking, we expect the support to lay its foundation at USD1255 - 1260 /oz in confluence with EMA200 line. The topside resistance is seen at USD1280 /oz in case of recovery. Generally, sideways trend is expected for another week before the...

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Bank of England Raises Rates after a Decade

A guest post written by DAR Wong

Currency Market Observations - 6 November 2017

Fundamental Outlook

The U.S. economy adds more jobs while Trump's tax -reform is reviewed for implementation. Bank of Japan remains unchanged in monetary policy. Bank of England raises 25 basis points in a decade in-lieu of expecting inflation.

The U.S. consumer spending grew 1.0 percent in September and best record in 18 months' record. Conference Board of consumer confidence climbed higher to 125.9 in October.

The U.S. ISM manufacturing index dropped to 58.7 in October from 60.8 in previous month. Jobless claims declined to 229,000 for the week ended 28 October. The monthly payroll added 261,000 jobs in October and the unemployment rate was 4.1 percent showing passable benchmark from the storm-weakened September.

President Trump has picked Jerome Powell as the next FED Chair in coming February. Trump administration has released the...

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Gold and Oil Markets Report – 29 October 2017

A guest post written by DAR Wong and Chong HC

Crude Oil

WTI Crude prices exhibited good demand last week but capped beneath USD55.00 /barrel. Brent Crude has reached USD60 /barrel while U.S. WTI Crude follows suit. This week, we foresee a tight range will impose on market from USD52.00 – USD55.00 /barrel until the trend breaks beyond in either direction. . OPEC and shale oil production continues to play as catalyst role in pushing up Crude demand.

Gold

Gold prices rebound on Friday but still loiters at USD1270 /oz area. This week, we forecast the trend will be supported at USD1260 /oz in case of further drawdown. For the time being, we believe the trend is closely related to Dollar weight and might thread from USD1260 – USD1290 /oz without a sure headway yet. Focus is still laid on European fundamentals in...

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Tapering Program will Begin in Europe after December

A guest post written by DAR Wong

Currency Market Observations - 29 October 2017

Fundamental Outlook

The U.S. shows moderate sign of inflation wit steady jobless claims. European Central Bank announces the tapering program to start after December. Spain faces separatism after Catalonia declares for independence. Rate hike is expected in U.K. after steady growth.

The U.S. orders for durable goods rose 2.2 percent in September while core orders, excluding transport equipment, climbed 0.7 percent. Both are above forecast.

The U.S. pending home sales stays flat in September but better than negative numbers for past 2 months. Weekly claims at 233,000 in the week ended 21 September. GDP for Q3 seasons grew 3.0 percent and beat forecast.

Tokyo core consumer prices rise 0.6 percent from a year ago while national consumer prices gain 0.7 percent. Both data shows growth in highest record from more than...

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Spain Faces Country Turmoil with Catalonia

A guest post written by DAR Wong

Currency Market Observations - 22 October 2017

Fundamental Outlook

The U.S. shows record low of jobless claims with growing existing homes sales. China stays on track of growth with stead inflation gains. Europe faces Spanish crisis in rout. U.K. remains on inflation track amid BREXIT negotiation.

The U.S. industrial production rose 0.3 percent in September and highest in 3 months. Building permit grew 1.22 million while housing starts gained 1.13 million in September, both missing the forecast.

The U.S. jobless claims was at 222,000 for the week ended 14 October, at lowest record and probably signals a hint for impending rate hike on job market recovery. A separate report on existing homes sales rose 5.39 million in September and higher than previous month.

China's consumer prices rose 1.6 percent in September from a year ago and...

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Gold and Oil Markets Report – 22 October 2017

A guest post written by DAR Wong and Chong HC

Crude Oil

WTI Crude prices have been trading firm on sideways due to many uncertainties on supply cut. Iraqi internal tension and Venezuela’s debt have nudged the demand slightly higher. This week, market looks good to stand on USD51 /barrel support and might climb higher though immediate resistance lies at USD53 /barrel. Range bound trading is expected until we see the trend breaks in either directional trend.

Gold

Gold prices made a small dip last week as we predicted. Market is well supported at USD1280 /oz regions and should be laid with heavy bargain-hunting at USD1270 – USD1280 /oz area. This week, we expect some sideways to continue in market and range is still largely expected to move from USD1270 – USD1310 /oz region. Yellow metal is sensitive to international uncertainties and favored...

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President Trump De-Certifies Iran Deal

A guest post written by DAR Wong

Currency Market Observations - 16 October 2017

Fundamental Outlook

The U.S. weekly claims for jobless benefits decline while inflation poises for slow growth. China slides in trade surplus while U.K. trade deficits widens to record high from fear of BREXIT effects.

The U.S. weekly claims ended 7 October dropped to 243,000 at 6-week lowest record. Producer prices rose 0.4 percent in September and better than last month. Core prices, excluding food and energies, also grew 0.4 percent and best in 5-month record.

The U.S. consumer prices for September rose 0.5 percent while core prices grew 0.1 percent, both below forecast. Another set of report on retail prices grew 1.6 percent while core prices, excluding automobiles, rose 1.0 percent.

American President has de-certified Iran's nuclear deal and working on a new deal to contain Iran. Crude prices...

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