MHMarkets：The US dollar has started to exert upward force, while non US currencies and precious metals are generally weak, and US crude oil continues to retreat downward!

Market Overview

On Monday (August 14), spot gold hovered at a nearly month low during the Asian session and is currently trading at $1913.39 per ounce. Due to the strengthening of the US dollar and bond yields before the release of the July policy meeting minutes by the Federal Reserve this week, gold prices were under pressure.

The world's largest gold backed exchange traded fund, SPDR Gold Trust GLD, said its holdings fell 3.75f tons last Friday to 899.63 tons, which was the lowest since the end of January 2020.

There are no important economic data released in the market on this trading day, but the US retail sales data for July, known as “terrorist data”, will be released on Tuesday. The minutes of the Federal Reserve meeting will be released on Wednesday, and investors need to pay attention to changes in market expectations.

At present, the market still generally expects the Federal Reserve to end its interest rate hike cycle. The probability of maintaining interest rates unchanged in September is 88.5%, and the probability of maintaining current interest rates unchanged in November is 72.1%. This is still supporting the gold price in the medium to long term, and we still need to be wary of the possibility of a bull backlash.

US crude oil has weakened in a volatile manner, reaching a new low of $82.03 per barrel in four trading days. Concerns about the weak economic recovery of major Asian countries and the strengthening of the US dollar have put pressure on oil prices. In addition, the number of active oil drilling rigs in the United States stabilized at 525 last week, ending an eight week downward trend.

However, the International Energy Agency (IEA) stated in its monthly report released last Friday that Saudi Arabia and Russia's production reduction measures are expected to reduce oil inventories for the remainder of this year, potentially further pushing up oil prices.

A Russian warship fired warning shots at a cargo ship heading north in the southwest of the Black Sea on Sunday, exacerbating tensions in key areas for Ukrainian and Russian commodity exports.

There are no significant economic data released on this trading day. Pay attention to the market's expected changes in China data on Tuesday morning and US retail sales data on Tuesday evening, and keep an eye out for geopolitical news.

MHMarkets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on August 14, Beijing time.

Intraday Oscillation Range: 1873-1889-1903-1919-1929-1937-1951-1960

Overall Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1873-1889-1903-1919-1929-1937-1951-1960-1977-1985-1998-2007-2016-2033-2046-2057-2066-2077-2089-2097-2100

In the subsequent period of spot gold, 1873-1889-1903-1919-1929-1937-1951-1960 can be operated as the bull and bear range; High throw low suction in the range, chase up and kill down outside the range!

Note: The above strategy was updated at 15:00 on August 14. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 20.6-21.5-22.3-23.1-23.9-24.5

Overall Oscillation Range: 19.7-20.1-20.6-21.5-22.3-23.1-23.9-24.5-25.3-26.1-26.6-27.3

In the subsequent period of spot silver, 20.6-21.5-22.3-23.1-23.9-24.5 can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!

Note: The above strategy was updated at 15:00 on August 14. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range: 77.9-78.5-79.9-80.7-82.3-83.5-85.3

Overall Oscillation Range: 62.1-63.7-64.5-65.8-66.9-67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1-77.9-78.5-79.9-80.7-82.3-83.5-85.3-87.3-89.1-90.7

In the subsequent period of crude oil, 77.9-78.5-79.9-80.7-82.3-83.5-85.3 can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!

Note: The above strategy was updated at 15:00 on August 14. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range:1.0755-1.0830-1.0950-1.1157-1.1220

Overall Oscillation Range: 1.0290-1.0360-1.0460-1.0570-1.0690-1.0755-1.0830-1.0950-1.1157-1.1220-1.1303-1.13340

In the subsequent period of EURUSD, 1.0755-1.0830-1.0950-1.1157-1.1220can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!

Note: The above strategy was updated at 15:00 on August 14. This policy is a daytime policy. Please pay attention to the policy release time.

Intraday Oscillation Range:1.25460-1.26505-1.27000-1.28200-1.29300

Overall Oscillation Range: 1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.25460-1.26505-1.27000-1.28200-1.29300-1.30000-1.30600-1.31000-1.31660-132000

In the subsequent period of GBPUSD, 1.25460-1.26505-1.27000-1.28200-1.29300 can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!

Note: The above strategy was updated at 15:00 on August 14. This policy is a daytime policy. Please pay attention to the policy release time.