OctaFX | OctaFX Forex Broker
Open trading account

Commodities Brief: Gold selling off sharply below $1430

FXstreet.com (Barcelona) - The hard commodity markets have started the week in Asia-Pacific selling off on the back of soft US equity futures and local share markets, but the Nikkei index, that posts fresh 5-year highs above the 14800 points, along with a strong USD. Gold has printed a fresh session lows near the $1425 mark from a previous weekly close Friday above the $1445, stalling around the 38.2% Fibo retrace of latest daily up leg from $1320 to $1490.

Silver is also down below the $23.70 mark from near $23.90 by the start of the session, printing session lows at $23.50, while Copper is also down more than -1% in the session, now around the $3.34 level. Oil is also lower holding slightly above the $95 mark coming from barely below the $96 handle, being flat from past week Monday open.

Forex Flash: USD/JPY, expect little pullback in the high 101s - RBS

The break up in USD/JPY through both 100.00 psychological level and a range of historical levels in the 101s strengthens the case for greater gains in the pair, says Greg Gibbs, currency strategist at RBS.
Read more Previous

Bearish views on the Yen simply unanimous

For traders involved in financial markets less than 4 years, the break-up of the 100.00 level in USD/JPY surely came as a psychological shock, although equally puzzling probably was to witness the loss of that magic level back in late 2008 by the more veteran traders.
Read more Next
Start livechat