Oct 29


  • BY:
  • October, 29th, 2015 19:37 +00:00

Good evening,

Precious metals are crashing today, with Silver at 15.59 $/oz (-4.31%) that made a bearish spike yesterday after the FED decision that triggered technical selling and macro bearish trades as well. A rate hike on December is a bad news for precious metals. Gold (-2.49%) and Platinum (-1.86%) may have finished their October rally, thus profit taking can accelerate their reversal in the next sessions.

Crude Oil did not continue its fight to gravity performance seen yesterday and today many traders were disappointed because volatility disappeared in the Crude market, and the commodity is losing 2 cents at 45.92 $/oz (-0.04%). US Pending Home Sales data at -2.3% was much worse than the +0.6% consensus.

In the currency market the slide of EurUsd took a break today, with the rate up 52 pips to 1.0974 (+0.48%). The temporary weakness of the Greenback was seen also on GbpUsd, trading now at 1.5314 (+0.36%), up 54 pips.  UsdJpy probably will make a breakout of the static resistance near area 122, thanks to BOJ Kuroda that tonight may adopt a more aggressive approach to support the Nikkei, and now is trading at 121.11 (+0.03%).  Kiwi and Aussie dollar are both off their intramonth high against the US dollar, and AudUsd is losing for the third consecutive session at 0.7078 (-0.50%), down 35 pips. NzdUsd is losing 9 pips at 0.6690.  The Canadian dollar is gaining for the second consecutive session against the Greenback and it may test 1.31 tomorrow. UsdCad is trading at 1.3164 (-0.19%), down 26 pips.  Equity indices in US are just below the opening level, with the S&P500 at 2,089.82 (-0.03%).

(19:25 GMT)