Your Economic Rundown

Market Overview

The recent debate between Kamala Harris and Donald Trump has sparked discussions about the potential economic impact of the upcoming election. While public opinion polls favor Harris, the betting market reflects a lack of confidence in Trump's performance.

The economic indicators, particularly the rise in gold prices and the surge in silver, suggest growing concerns about global instability. Gold's all-time high reflects uncertainty in the current world order, while the rise in silver prices signals anxieties over potential conflict.

Market Analysis

GOLD - GOLD has made new highs due to expectations of FED rate cuts next week. Contrary to expectations, it reached this high before the rate cut decisions. However, I, along with other analysts, believe it will move higher, and see no reason for it not to do so.

Thus, we continue to view GOLD as bullish, with chances of consolidation until next week's rate cut announcement. There may be a correction today, but we also see the possibility of stronger buying.

SILVER - SILVER has also risen above 29.900, with a strong chance of staying above this price level. If so, we will have seen SILVER remain at 30 dollars an ounce, the biggest rejection area. With increased chances of a potential technical correction, we view SILVER positively after next week.

DXY - The dollar has failed to break above 101.786, weakening ahead of the rate cuts. Contrary to expectations, the decline occurred early, before the rate cuts. We may continue to see this trend unfold if this week ends with a significant drop. However, there is also a chance that markets will consolidate.

GBPUSD - The Pound has risen to appropriate levels after the sudden USD weakness. We may see the market rise further as it surpasses 1.31097 and moves toward 1.31804. However, this could change after the rate cuts. We are looking for more price action, but expect a technical correction soon.

NZDUSD - The Kiwi has risen from 0.61408, performing as expected with a sudden drop followed by a big rise. We may see this market rise further, with chances of consolidation. After the rate cut, we will carefully review how the markets react to better understand how prices will move in the coming months.

EURUSD - The Euro has lost ground against the dollar after reaching 1.10090 but is looking to recover from the current price level. We expect more buying to come, but a potential retracement is also likely.

USDJPY - The Yen has gained strength, beaten the dollar, and reached its previous low. We will continue to watch how the markets play out as safe-haven assets regain strength against their peers. We expect further trading to develop for both the Yen and the Franc.

USDCHF - Strength has also returned for the Franc, as the price failed to reach 0.85541. We may see further selling for the Franc, as traders once again focus on safe-haven assets. We see the potential for the Franc to drop as low as 0.84086.

USDCAD - The Loonie remains steady at 1.35762. We continue to monitor how the CAD will perform in this market, though its weakness is evident. We are waiting for further confirmation.