Abstract:Spot gold traded in a narrow range around $1,895.18 an ounce on Tuesday in Asia, with bargain hunting supporting prices but growing views that the Federal Reserve will keep interest rates high for longer as the US economy remains resilient. The 10-year yield has hit its highest level since the financial crisis in 2007, giving bulls pause.
Market Overview
Spot gold traded in a narrow range around $1,895.18 an ounce on Tuesday in Asia, with bargain hunting supporting prices but growing views that the Federal Reserve will keep interest rates high for longer as the US economy remains resilient. The 10-year yield has hit its highest level since the financial crisis in 2007, giving bulls pause.
Investors are also looking for clues on interest rates at this week's annual gathering of global central banks, with Fed Chairman Jerome Powell's speech in Jackson Hole, Wyo., on Friday in focus.
Focus this session on remarks by Richmond Fed President Barkin and Chicago Fed President Goolsbee. Keep an eye on the USD Existing Home Sales (JUL).
U.S. crude traded near $80 a barrel; Oil prices ended lower on Monday as hopes for a recovery in Asian demand waned and U.S. crude exports remained on track to hit a five-month high in August.
Note: NYMEX New York crude oil September futures are subject to month shifting. The last trading on the floor will be completed at 2:30 on August 23 and the last trading on the electronic market will be completed at 5:00 am. Please pay attention to the announcement of month due on the trading floor to control risks. In addition, some trading platforms often expire one day before the NYMEX official.
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 22, Beijing time.
Intraday Oscillation Range: 1873-1889-1903-1919-1929-1937-1951
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 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 22. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 21.5-22.3-23.1-23.9-24.5-25.3
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, 21.5-22.3-23.1-23.9-24.5-25.3 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 22. 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 22. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 1.0690-1.0755-1.0830-1.0950-1.1157
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, 1.0690-1.0755-1.0830-1.0950-1.1157 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 22. 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 22. This policy is a daytime policy. Please pay attention to the policy release time.
Fed Governor Christopher Waller's recent comments have highlighted a cautious stance towards adjusting interest rates, marking a significant moment for the financial markets.
In the forex market, stability was the theme for the U.S. dollar index, holding firm at 104.30. Minor fluctuations were observed across major currency pairs: the Euro slightly weakened against the dollar, closing at 1.0827
In the latest market wrap focusing on the foreign exchange sector, the U.S. dollar index showed minimal movement, holding at 104.31.
On Tuesday, due to February's US durable goods orders growth exceeding expectations and an optimistic economic growth outlook for the first quarter in the US, the US dollar index initially fell but then rose, briefly touching below the 104 mark before recovering during the US trading session, closing up 0.07% at 104.29.