Gold futures fell slightly
Gold eased slightly in Asia on Thursday as investors booked profits and continue to watch the dollar’s weakness.
On the Comex division of the New York Mercantile Exchange, gold for December delivery dropped 0.06% to $ 1,351.05 per troy ounce.
Silver futures for September delivery rose 0.15% to $ 20.200 per troy ounce, while copper for September delivery edged up 0.23% to $ 2.178 per pound.
Overnight, gold is ticking on Wednesday as the dollar fell sharply against the rivals, helping to provide a little boost for the yellow metal in quiet trade, range-bound.
Investors continued to monitor the US employment data to gauge the strength of the labor market, following a strong jobs report last Friday for the month of July. On Wednesday, the US Department of Labor reported that job vacancies rose 2.0% in June to an annual rate of 5.624 million from a relatively soft revised from 5.514 million the previous month. Analysts expect to see a slight increase in the month to 5.588 million.
At the same time, Survey Job Openings and Labor Turnover Department of Labor (shock) shows there are 5.1 million employees in June, an increase of 1.7%, offset slightly by 2.9 million Quits in months. Mild increase in monthly job vacancies was driven by an increase in jobs in durable goods manufacturing sector.
Over the past few weeks, a number of policymakers at the Federal Open Market Committee (FOMC) has indicated that a rate hike in September can on the table if the labor market continues to show improvement and inflation moving closer to the targeted goal of 2%. On Wednesday, (NASDAQ: NASDAQ: CME) CME Group Fed Watch tool placed the possibility of a rate hike in December at 37.8%, up from around 30% last week.
Any increase in interest rates by the Fed this year is seen as bearish for gold, which is struggling to compete with high yield bearing assets in the environment increasing rate.
Technically
Resistance: 1344.12 1345.38 1346.58 High / Low: 1357.06 / 1341.10
Support: 1340.38 1338.22 1337.47 Running Price: 1343.70
Comment: For intraday trade today suggest Buy at 1345.47; stop loss at 1344.27; targets at 1347.47.
Pound and Yen strengthened
The US Dollar fell sharply on Thursday, as the British Pound and the Japanese Yen both rose steadily against the dollar, dragging the US currency to one-week lows recently against its main rivals.
The index, which measures the strength of the dollar against six major currencies, fell by more than 0.55% to an intraday low of $ 95.38 before paring some losses to move back to 95.59 at the close of US afternoon trade. The index is on pace for a second straight loss after stopping a four-day winning streak on Tuesday. Since hitting a four-month high at 97.62 at the end of July, the Dollar Index has fallen nearly 2%.
The dollar slipped more than 0.65% against the yen on Wednesday moved below 101 for the first time in three sessions after a report showed that Japanese core machinery orders jumped 8.3% in July. Analysts expect to see a profit of 3.4% for the month. This marks the first increase in reading in three months. the dollar has fallen nearly 4% against the yen since the Bank of Japan easing measures applying simple, including the launch of the ETF ¥ 1 trillion on July 29.
Meanwhile, the GBP / USD rose modestly to an intraday high of 1.3095, before falling back slightly to 1.3011 (up 0.07%). Earlier on Wednesday, the Bank of England said it would make a £ 52 million shortfall in the purchase of bonds, a day after investors rejected an offer to sell long-dated gilts to the central bank in a reverse auction. In Tuesday’s session, the GBP / USD fell to a near 1-month at 1.2992, as the BOE continued sovereign bond purchase program over the long term.
Elsewhere, the US Department of Labor reported that job vacancies rose 2.0% in June to an annual rate of 5.624 million from a relatively soft revised from 5.514 million the previous month. Analysts expect to see a slight increase in the month to 5.588 million. At the same time, Survey Job Openings and Labor Turnover Department of Labor (shock) shows there are 5.1 million employees in June, an increase of 1.7%, offset slightly by 2.9 million Quits in months. Mild increase in monthly job vacancies was driven by an increase in jobs in durable goods manufacturing sector.
Over the past few weeks, a number of policymakers at the Federal Open Market Committee (FOMC) has indicated that a rate hike in September can on the table if the labor market continues to show improvement and inflation moving closer to the targeted goal of 2%. On Wednesday, placed the possibility of a rate hike in December at 37.8%, up from around 30% last week.
Any increase in interest rates by the Fed this year is seen as bullish for the dollar, as foreign investors piled into the greenback to take advantage of higher yields.
Yields on US 10-year fell four basis points to 1.51%. During the last 52-week, yields on 10-year US Treasury have declined more than 70 basis points. Auction US 10-year notes on Wednesday reflected solid demand, as investors bought $ 23 billion in debt at a yield of 1.503%.
Technically
Resistance: 1.3027 1.3031 1.3046 High / Low: 1.3094 / 1.2991
Support: 1.3015 1.3005 1.2996 Running Price: 1.3024
Comment: For intraday trade today suggest Buy at 1.3040; stop loss at 1.3020; targets at 1.3080.
The Kospi Index fell
The Kospi index opened lower in early trading on the Korea Stock Exchange on Thursday, tracked down -6.13 points or -0.30 percent, at 2038.51. Weakening Kospi index triggered weakening Wall Street and crude oil prices.
Stocks closed lower in late trading last Thursday morning, pressured the decline in crude oil prices. The Dow Jones Industrial Average closed 37.39 points lower, or 0.2 percent, at 18,495.66, the highest decline in shares of ExxonMobil and Wal-Mart shares rose the highest. The S & P 500 fell 6.25 points, or 0.29 percent, to end at 2,175.49, with the energy sector leading the six sectors is lower and consumer staples sectors were increased. The Nasdaq index closed 20.90 points lower, or 0.4 percent, at 5,204.58.
Crude oil prices ended at the end of trading Thursday before dawn, after a growth in crude oil inventories of gasoline offset the withdrawal of the second largest weekly in the US this summer.
US crude oil futures price of West Texas Intermediate (WTI) ended the day down at $ 41.71 a barrel, down 2.48 percent, or $ 1.06. While the price of International benchmark Brent crude fell $ 1.06, or 2.3 percent, at $ 43.93 per barrel.
Meanwhile, the local currency was trading at 1,097.25 won against the US dollar, down 1.9 won from the previous closing session.
In early trading, most of the large capital stocks were in negative territory with Samsung Electronics shares fell 0.19 percent. Shares of chipmaker SK hynix was down 0.59 percent. Stock Naver, the largest internet portal in the country, declined 0.39 percent.
Meanwhile, Hyundai Motor shares flat, and its affiliate Kia Motors rose 0.24 percent.
As for the Kospi index futures tracked down -0.20 points or -0.08% at 255.00, up from its previous close at 255.20.
The Bank of Korea will hold a meeting to determine the level of interest rates, with many analysts expect the central bank to keep its key interest rate unchanged.
Technically
Resistance: 255.18 255.55 255.92 High / Low: 25 658 / 248.79
Support: Running 254.83 254.73 253.98 Price: 255.10
Comment: For intraday trade today suggest Sell at 255.30; stop loss at 255.90; targets at 254.10.
