This WEEK (THE WEEK OF October 6-10), THE 2,000 MARK WAS LOST AND RECOVERED, AS A flood of good fundamental news suddenly EMERGED AFTER it FELL BELOW THE PSYCHOLOGICALLY IMPORTANT 2,000 MARK.
The dollar closed sharply lower after the Fed’s September minutes suggested tighter policy would come later than markets had expected and concerns mounted that the global economic recovery was stalling.
Tumbling U.S. stocks and oil prices have sparked a return to safe-haven demand and heightened speculation that Germany’s “pick up” from China has faltered and triggered a return to recession in the euro zone’s leading economy.
The euro zone as a whole is still struggling to recover, sell off and politically.
In terms of trend, although the Fed minutes have dampened the market’s rate hike expectations and eased the downward pressure on gold, the downside can only be described as restrained due to the lack of real positive impetus from its own fundamentals, the scope for a rebound is relatively limited, and the Fed rate hike is indeed imminent.
Important risk events in the short term, if not push, the dollar will tend to be fundamental flaw on the whole, and for, is expected to fall below 1180 a key support the possibility of very low, more will tend to low range-bound, will be thwarted by the above $1230 an ounce, and below will get the support in the $1180 / ounce,
There won’t be a big cut for now.
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