Forecasts & Analysis | Page 5

The price action suggests that gold traders are betting once again on a steep break in the stock market. They believe stocks are overpriced and setting up for a huge decline.

Altcoins have shown impressive spike and atthe moment switched to more moderate growth. Over the last week, the totalcapitalization of the crypto market grew by 18% to $244bn.What is happening now is indeed often reminiscent of 2017, but the current price levels of altcoins are still much lower. The first

The glass of economic data is half full if we estimate the reaction to the macroeconomic data. This applies to both last Friday’s U.S. employment report, and China’s GDP figures released this morning. The published data for the 4th quarter of 2019 showed that the economy slowed down to 30-year

Crude is steady, as it trades just shy of the $59 level. After a rough start to the week, crude has bounced back, with the signing of the Phase One trade accord and a surprise EIA crude inventory drawdown.

Retails sales in the UK were much worse than analysts expected, fueling rate cut expectations and putting Sterling under pressure.

SIlver prices have improved on Friday, sending the metal above the key $18.00 level.

EUR/USD was dragged lower by yesterday’s US retail sales report and is holding near lows, threatening a break of support.

GBP/USD showed a bullish bounce at the 88.6% Fibonacci retracement level and also made a bullish breakout above the resistance trend line

The British pound is steady, but could receive a boost if retail sales delivers a solid gain (release on Friday at 9:30 GMT). The story of the week has been the Chinese yuan, which has climbed to a 7-month high against the U.S. dollar.

Gold futures gained 0.6% on Wednesday, January 15 as it continued to rebound off Tuesday’s local low of $1,536.40. The price has got closer to the recent highs. Overall, it has been trading within a week-long $1,540-1,560 consolidation following January 8 run-up above $1,600 mark that ended with a sharp