FROM: PETER CRUZ DATE: 9th Aug.,, 2013 – Fri. Market Brief Eid Mubarak to All The AUD bounced on signs that a slowdown in China, Australia’s biggest trading partner, may be coming to an end. “You’ve had a dramatic curtailing of Chinese growth expectations, but then all of a sudden China’s import figures were surprisingly strong,” says Richard Franulovich, currency strategist at Westpac Bank. The AUD/USD was at 0.9100 vs 0-9000 late Wednesday. The USD was mixed after a report showed a slight increase last week in the number of workers seeking unemployment benefits. Despite the increase, the number of unemployed workers remained close to a five-year low. Stocks snapped a three-session slide following strong readings on US jobless claims and demand for China’s exports. December Comex gold rose $24.60 to settle at $1,309-90 a troy ounce. September Nymex settled 97 cents, or 1% lower at $103.40 a barrel. On the data slate there’s UK Visible Trade Balance; UK Total Trade Balance and US Wholesale Inventories. SELL EUR @ 1.3380 OR BETTER – STOP @ 1.3425 – TARGET @ 1.3115 SELL GBP @ 1.5530 OR BETTER – STOP @1.5650 – TARGET @ 1.5250 BUY USD/JPY @ 96.65 OR BETTER – STOP @ 96.10 – TARGET @ 99.20 – no change SELL CL0913 @ 103.75 OR BETTER – STOP @ 104.40 - TARGET @ 1032.35 SELL XAU @ 1313 OR BETTER – STOP @ 1375 – TARGET @ 1268 SELL XAG @ 20.25 OR BETTER – STOP @ 20.50 – TARGET @ 19.10
Posted on: Fri, 09 Aug 2013 05:00:17 +0000
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