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Analyst: Peter Cruz
Market Brief
As the first US Presidential election debate draws to a close, nothing seems to have changes across the FX board, with small ranges prevalent and the US dollar under pressure in weekly lows. The debate was unimpressive as both sides failed to make any strong points while President trump emerged as more aggressive.
Gold snaps a two-day winning streak following its pullback from $1,899.38. Hence, bears are waiting for a clear break of the $1,891.80 support line to confirm the bearish chart play, which in turn can drag the quote towards the monthly low near $1,850.
On the data slate there’s UK Total Business Investment; UK Current Account; UK GDP; UK Nationwide Housing Prices; German Import Price Index; German Retail Sales; Switzerland Leading Indicator; Euro-Zone ECB’s President Lagarde Speech; Switzerland ZEW Survey; UK BOE’s Haldane Speech; German Unemployment Rate; Euro-Zone ECB’s Mersch Speech; US Mortgage Applications; US Employment Change; US Core Personal Consumption; US GDP; Switzerland SNB Quarterly Bulletin; US Chicago Purchasing Managers’ Index; US Pending Home Sales; US Crude Oil Stocks Change and US Fed’s Bowman Speech.
（a） Precious Metals Market
Market Brief
As the first US Presidential election debate draws to a close, nothing seems to have changes across the FX board, with small ranges prevalent and the US dollar under pressure in weekly lows. The debate was unimpressive as both sides failed to make any strong points while President trump emerged as more aggressive.
Gold snaps a two-day winning streak following its pullback from $1,899.38. Hence, bears are waiting for a clear break of the $1,891.80 support line to confirm the bearish chart play, which in turn can drag the quote towards the monthly low near $1,850.
On the data slate there’s UK Total Business Investment; UK Current Account; UK GDP; UK Nationwide Housing Prices; German Import Price Index; German Retail Sales; Switzerland Leading Indicator; Euro-Zone ECB’s President Lagarde Speech; Switzerland ZEW Survey; UK BOE’s Haldane Speech; German Unemployment Rate; Euro-Zone ECB’s Mersch Speech; US Mortgage Applications; US Employment Change; US Core Personal Consumption; US GDP; Switzerland SNB Quarterly Bulletin; US Chicago Purchasing Managers’ Index; US Pending Home Sales; US Crude Oil Stocks Change and US Fed’s Bowman Speech.
（a） Precious Metals Market
