› Market review, August 28 - September 1, 2017

Market review, August 28 - September 1, 2017

GOLD

Last week Gold kept sideway movement, and on Friday, August 25, on the eve of the meeting in Wyoming, almost did not change in price. Undoubtedly, all this was caused by the obvious importance of the meeting of the leaders of the banks of the two largest world economies - the US and the European Union.

Having thrown out attempts to foresee the results of this meeting, investors switched to other tools.

Usually, in a similar situation, gold price is growing, but, on the other hand, at the moment it has reached the strongest resistance level of $ 1,300 and very few believe in the possibility of overcoming it.

After the beginning of the meeting and a significant price fluctuation, gold consolidated at a new, higher level.

Though technical indicators show a high possibility of continuing the upward movement, the scenario of continuation of lateral price movement is more likely, until the appearance of an impulse, which will form a further trend.


Market review, August 28 - September 1, 2017



GBP

Previous week was marked by another fall of the British pound.

At the end of the week british currency was able to restore its position a little, in connection with the symposium in Jackson Hole, and the uncertainty about the fate of the Euro and the Dollar.

Interesting news appeared on Thursday regarding Investments of commercial enterprises. For the first time in the history of Britain over the past quarter, the UK economy has not received a single cent, as indicated by a 0% rate.

This means that investors lose confidence in Britain, and in the long run the economy will only fall.

Now the British pound showed a technical adjustment, and selling the pound for the medium and long term looks like the most profitable.


Market review, August 28 - September 1, 2017


EUR / USD

Last week, the main currency pair of the financial market showed a corridor movement with a more upward trend. Strong level 1.18 three times cooled the ascending mood of speculators who in the season of summer holidays have the opportunity to influence the market.

If we take into account the fact that Mario Draghi has repeatedly said about the "harm" of an expensive euro for the economy of the Eurozone, and the fact that he did not bring monetary policy and the QE program to the symposium in Jackson Hole on Friday evening, says that, the head of the ECB is afraid of being again misunderstood and interpreted by market participants.

And the main task for the ECB is to smoothly bring market participants to a gradual decline in the quantitative easing program, and at the same time, do not create an agiotage of the euro in the market, which could lead to a sharp rise to 1.25. It is for this reason that the head of the ECB decided not to disclose the plans, but to wait for the interest rate increase from the Fed. And then, at a more appropriate moment, announce your plans when the market is ready.


Market review, August 28 - September 1, 2017


Apple

More and more photos and concepts of the new apple flagman - iPhone 8, appeared in the internet. Official presentation of it is scheduled for September 12, 2017. In addition, it is planned to release Apple TV, capable of displaying high quality video.

This caused a new wave of interest in the shares of this company and Friday's auction ended in growth.

The data of the technical analysis confirm the high probability of continuation of Apple's shares growth, in the medium and long term.


Market review, August 28 - September 1, 2017



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