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Forex Flash: Gold rally to 1785 in the cards? – RBS

There’s been much focus about the Gold price in recent weeks since its sell off and recent devaluation of circa 13.5% since the 2012 highs. “From a much longer-term perspective there is some evidence to support that the multi-year long term bull trend is coming to an end, but the short-term picture looks to represent a good buy opportunity; between $1,523 and $1,574 is the support level that’s caught the last 3 major dips and already this week has started on a positive note since we entered the zone. Each time that this zone was entered a return rally to $1,785 occurred.” notes William Moore, a Technical Strategist at RBS.

Forex: USD/CAD hits fresh 8-month high

The dollar took another step higher versus the loonie and reached a fresh 8-month peak during the American session, as the CAD weakened on the back off disappointing domestic data and broad risk aversion.
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Forex Flash: US housing data helped mitigate market slide – Goldman Sachs

Stronger than expected housing data in the US this week helped to arrest a market slide, and reinforced the importance of the housing sector for the US outlook. According to the Economics Research Team at Goldman Sachs, “Housing activity also remains an important marker across the developed world, with nominal house prices recovering, due in part to local cyclical recoveries and in part to the transmission abroad of exceptionally low US rates.”
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