OctaFX | OctaFX Forex Broker
Open trading account

Silver market collapses in early Asia

FXstreet.com (Barcelona) - The Silver market is being completely slaughter at the open of Asia, when liquidity is the poorest with only New Zealand and Australian markets open.

The price fell 2 full cents in no time in what appears to be a premeditated attempt to depress the value of silver even further by the large institutions. Silver is now at 21.22 after posting a new yearly low at 20.28 from an open at 22.30.

From a weekly perspective, the next key support level comes at the psychological 20.00 round number ahead of 19.50, series of highs from 2009/2010. On the upside, 22.00 should act as new resistance.

Flash: NZD/USD further weakness possible this week - BNZ

Mike Jones, Currency Strategist at BNZ, believes that despite the recent decline in NZD/USD, the overall bullish picture for the longer term has not changed much in his view.
Read more Previous

Aussie finishes week with lowest close since early June 2012

It was another rough day for the Aussie, with the pair losing just over 88 pips on Friday to close at 0.9731. Economic data in the coming session will be light from both Australia and the US, but expect volatility to pick up when the RBA Meeting Minutes are released later in the week.
Read more Next
Start livechat