A look at more immed...来自Fellin

A look at more immediate positioning on the four-hour chart warns against overextrapolation however. Prices are resting at rising trendline support defining the bounds of the latest upside foray, warning that a convincing reversal is yet to be confirmed. Indeed, a bounce from support may yet materialize, with a push above the 0.6682-85 price band putting the June high at 0.6727 back in focus.

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With the G20 summit in Osaka, Japan, markets have started to seize up in anticipation of a potentially significant announcement coming out of the weekend. Gold volatility, as measured by the Cboe’s ETF, GVZ (which tracks the 1-month implied volatility of gold as derived from the GLD ETF option chain) has come down in recent days, pulling lower gold prices in the process.

Fellin

The Australian Dollar often finds itself cast in the role of favored China risk proxy given its home nation’s huge raw material export links with the world’s number two economy. However, at present it seems likely that interest rate differentials with the US are a much more prominent AUDUSD driver. It certainly didn’t move much on the Chinese data.

Fellin