London Trading Session Heads Up Monday, July 17, 2017

corvuscoraxx (54)in #trading • 7 years ago

Dear Steemians! For your attention London opening news digest.

Asian Stocks Mixed Despite Stronger China Growth, USD Steady
Friday’s US consumer price index data came in just weaker than expected, with retail sales disappointing too. The US Dollar index tracks its progress against a basket of major traded rivals and is still close to ten-month lows. Asian markets were mostly higher Monday focused on Chinese growth data and last week’s softer US economic numbers as a new week got under way. Shanghai stocks failed to capitalize on the stronger data, coming under pressure reportedly as investors were worrying about poor earnings prospects for start-up companies in Shenzhen. The US Dollar remained under pressure but didn’t get a lot lower through the Asian session. (dailyfx.com)

Gold Prices Rise as Soft US Data Cools Fed Rate Hike Bets
Gold prices soared after a disappointing round of US economic data cooled Fed rate hike speculation, pushing the US Dollar lower alongside front-end Treasury yields (as expected). GOLD TECHNICAL ANALYSIS – Gold prices broke above channel resistance defining the down trend since early June. Crude oil prices rose after Shell declared force majeure on Nigerian Bonny Light grade exports. From here, a lull in top-tier scheduled event risk may put risk appetite trends in control of price action. Alternatively, a reversal below chart inflection point supportat 45.32 paves the way for another test of the May 5 lowat 43.79. (dailyfx.com)