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Market Analysis (FRA40 & Gold)

By: alagbe003 (M) |Time : August 15, 2018, 10:37:17 AM
FRA 40 (CAC 40)
The Index closed a bit higher despite the losses recorded in the Oil & Gas, Financials and Consumer Services. The index traded between a resistance at 5445.5 and 5391.0 failing to break through any of the two key levels.

Today, the instrument opened below the pivot with a gap down and has successfully covered up the gap on the hourly chart. Banks in France will be closed today as the country observes Assumption Day. Liquidity is expected to be lower in France and this might push the index lower.

Re: Market Analysis (FRA40 & Gold)

By: alagbe003 (M) |Time : August 15, 2018, 10:38:02 AM
Gold (XAU/USD)

The Yellow metal pushed higher in the early session yesterday recovering temporarily from an 18-month low point as the Greenback softened. The Metal came under intense pressure on Monday due to the economic turmoil in Turkey as the Turkish Lira plunged to an all-time low of 7.1289. The slight recovery in the Lira aided the early morning surge but the commodity plunged after unimpressive economic data from China, the largest consumer of the commodity, showed a slowdown in economic activity.


The instrument opened below the daily pivot and has been surging southward. In a bid to stem down what he tagged explicit economic attack on his Country, Recep Tayyip Erdogan, Turkish President urged his country to boycott iPhone and other American Electronics. Market sentiment is punting on better growth prospect in the US and this is expected to further hurt the prospects of demand on the precious metal.

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