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Flash: The economic calendar ahead - OCBC Bank

FXstreet.com (Barcelona) - OCBC Bank Treasury analysts have highlighted the significant economic data releases for the week just passed.

They begin with US’ durable goods orders which rebounded more than expected by 3.3% in April, following a revised 5.9% contraction in March, while durable orders excluding transportation also recovered from -1.7% to +1.3% in its first gain in three months, which suggested a second wind in H2 for the US economy. Meanwhile, they note German business confidence also improved for the first time in three months, rising from 104.4 to 105.7 – the current assessment gauge rose from 107.3 to 110.0, whereas the expectations gauge was unchanged at 101.6. UK’s Hometrack housing survey also improved to 0.4% mom and yoy in May. South Korea’s consumer confidence rose from 102 to 104 in May, with both current and expectations gauges both improving.

Flash: Markets considering whether USD will benefit from tapering - DBS Group

DBS Group analysts note that the past week’s volatility is giving the market second thoughts as to whether the US dollar will benefit from the Fed tapering asset purchases.
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Commodities Brief – Precious metals trade at intraday highs, gold held below 1400

The price of gold has been consolidating for the past week or so, pushing gradually higher towards 1400.00 (key short-term resistance level) – a break above 1400.00 and the descending resistance for the latest bearish wave should signal a move higher within the overall sideways range (1320.00-1485.00) targeting 1445.00-1448.00 as an initial upside target. There remains a bullish bias towards gold this week and in these moments, the yellow metal is trading at USD $1393.51 per oz. Monday during European trading.
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