Market Commentary June 23, 2019

The Trading Daily Market Commentary features a summary of selected market segments as well as economic matters. Its content of interest is made available to all traders and investors at large

The Gold market has lagged the top markets because the U.S. Dollar has been a safe-haven favorite over a couple of decades what results when traders and investors realize that their life preserver will no longer protect them. 

The rocky ride in the Gold, as well as Silver markets on Friday, continues as seeing the prices of both metals have been solidifying recent gains.

If Federal Reserve officials are concerned regarding inflation moving too low, it is not because they worry about the U.S. economy - where it is the lower the inflation, the better, but simply because they desire to support toxic asset bubbles and eradicate the value of debt where the borrowers are inept of repaying.

We believe this spike is the real deal also the revitalization of the primary bull market in Gold is lastly upon us. Presently that Gold being in action, it will generate more buyers interest. 

Even though everyone insists they fancy to buy tangible assets on the bargain, what they actually want to make, presently more than ever is to purchase something that is moving.

As the central bank easing rates and low global growth are pushing an increased number of bonds into the negative-yielding zone. Something like Gold, comprising a non-coupon nor dividend returning asset, can profit from immensely.

To be sure the move past $1,400 an ounce is a promising clue. Gold five times have attempted to crack the $1,350 level and were lastly victorious in breaking out that magic price line - Gold's primary bull market has just started. 

With an interim price mark at $1,465 an ounce, Gold is a gauge of traders and investors fear. However, we maintain our hold that Gold will hit $1,500 level soon - In the meantime expect more intense trading in the upcoming weeks ahead.

Gold MarketGold June 21 2019

The Cryptocurrencies Market 

The primary crypto market continues to trade with a very bullish bias, following the post-Federal Reserve wave across traditional financial markets. Bitcoin definitely bettered its peers this week, retaking the $11,000 mark.

The growing medium to the short-term trend is unmistakably intact, and although the long-term order continues to be negative, the scene is set for an important test of the Outer Coin Rally $11,262 level.

The real-time to enter Bitcoin's market has passed, and seeing the long-term uncertainties, traders, as well as investors, should solely hold on to their current positions. A move above $11,000 it is an excellent opportunity to decrease market exposure, as sharp an extensive price correction is likely laying ahead.

The most expensive token could, however, influence the crypto segment higher, though traders and investors should remain wary here, as should the widespread counter-trend rally may roll over, and a sharp sell-off could quickly follow. 

Stringent risk management practices should be employed here. The support levels are now found at Mean Sup $9,070, and Key Sup $7,625.

The Cryptocurrencies MarketBitcoin June 23 2019

The Euro Dollar Market

The Euro Dollar paused its decline at Mean Sup 1.1193 and rocked higher to press up against the Key Res 1.1333 that has been strengthening since Jan 7. The breakout results in an extraordinary move as pent up strength producing a fulfilled Outer Currency Rally 1.1376.

There have been many attempts for the Euro to trade higher in the past few months, however, each of them has ended in quick reversals back lower levels. The upcoming week hopefully will bring confirmation of a false flag rebound by developing new resistance level; otherwise, it will add conviction to a further bullish outlook.

The Euro Dollar MarketEUR/USD June 21 2019

As The Market Turns

Traders and investors are looking forward to this week's G20 summit in Japan, where  Chinese President Xi Jinping and President Trump are expected to meet face to face in an attempt to renew trade talks.

The outcome of the Xi Jinping-Trump encounter could have an essential influence on the understanding of the possibility for an ultimate United States-China trade agreement.

The Friday's choppy trading session occurred as traders and investors showed some skepticism about the intermediate-term outlook for the equity markets after the broader S&P 500 finished Thursday's the session at all-time record closing. 

In abroad trading, stock markets over the Asia-Pacific continent turned in a mixed showing throughout trading on Friday session while the important Eurozone stock markets witnessed moderate weakness in the session. 

The bond market showed U.S. Treasuries gave background after climbing significantly higher over the previous few trading sessions. Consequently, the yield on the 10-year note, which by the way moves counter of its price, escalated 6.7 bps to finish at 2.068%.

With the United States-Iran event spinning into a possible military conflict, the crude oil price has pushed upward fronting a souring global economic forecast. Alternately the crude oil markets had a green day on Friday, as U.S. Oil rose 0.48 or 0.78% to finish at 57.38, Brent progressed 0.7 in U.S. Dollars or 1.09% to close at 65.0337.

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