The issue of the Greek CDS has been properly resolved. The current account in the Eurozone has performed well. Concerns about the debt of Greece have gradually begun to dissipate. The euro led the recovery of the risk currency, and spot gold also followed a slight increase in the euro. At present, spot gold has been closed for three consecutive days, but both have a long upper and lower Yinxian, indicating that the market is fierce competition.
The outcome of the Greek CDS payment auction was released on Monday (March 19), and the final result will be EUR 0.215 per 1 Euro Greek Bond. The release of the CDS reimbursement results marked the end of the Greek government bond swap program. Concerns about Greek debt began to subside slowly. The euro rose sharply by more than 100 points in the short time after the CDS came out.
In addition, the data released by the European Central Bank on Monday showed that the euro area adjusted its current account surplus of 4.5 billion euros in the first quarter of this year, a record high in the past five years. The former value was revised to a surplus of 3.4 billion euros, and the initial value surplus was 2 billion euros. The improvement in the economy once again provided the Euro with an emphasis on the driving force. The EUR/USD has been greatly affected by the yang for three consecutive days and is currently trading around 1.3240.
On the US dollar index, when the euro zone debt crisis slowly eased, risk aversion was gradually weakened and the dollar was depressed. In addition, the New York Fed’s Dudley’s view of the current US economy was more optimistic yesterday and did not make any hints about QE3. The market is waiting for other Fed’s comments. The U.S. dollar index continued its weak consolidation and is currently trading around 79.50, but it is still in a recent rising trend.
It is said that the recent decline in the price of gold has attracted the purchase of gold from the Central Bank. This news may stimulate the price of gold to rebound further.
The world's largest gold exchange deal** (ETF) - SPDR Gold Trust's gold holdings as of March 19 held steady at 1,293.27 tons.
Technically, on the daily chart, there are three gold positives on the daily chart and the top touches the 220-day moving average. The boll band still runs down and the gold price moves out of the lower track and starts to move towards the middle track. KDJ Jinchao runs, MACD green column energy weakens. During the morning or the continuation of the rally, there may still be further downside in the European or US session.
At 10:04 GMT, spot gold prices were reported at 1657.88 US dollars per ounce.
The outcome of the Greek CDS payment auction was released on Monday (March 19), and the final result will be EUR 0.215 per 1 Euro Greek Bond. The release of the CDS reimbursement results marked the end of the Greek government bond swap program. Concerns about Greek debt began to subside slowly. The euro rose sharply by more than 100 points in the short time after the CDS came out.
In addition, the data released by the European Central Bank on Monday showed that the euro area adjusted its current account surplus of 4.5 billion euros in the first quarter of this year, a record high in the past five years. The former value was revised to a surplus of 3.4 billion euros, and the initial value surplus was 2 billion euros. The improvement in the economy once again provided the Euro with an emphasis on the driving force. The EUR/USD has been greatly affected by the yang for three consecutive days and is currently trading around 1.3240.
On the US dollar index, when the euro zone debt crisis slowly eased, risk aversion was gradually weakened and the dollar was depressed. In addition, the New York Fed’s Dudley’s view of the current US economy was more optimistic yesterday and did not make any hints about QE3. The market is waiting for other Fed’s comments. The U.S. dollar index continued its weak consolidation and is currently trading around 79.50, but it is still in a recent rising trend.
It is said that the recent decline in the price of gold has attracted the purchase of gold from the Central Bank. This news may stimulate the price of gold to rebound further.
The world's largest gold exchange deal** (ETF) - SPDR Gold Trust's gold holdings as of March 19 held steady at 1,293.27 tons.
Technically, on the daily chart, there are three gold positives on the daily chart and the top touches the 220-day moving average. The boll band still runs down and the gold price moves out of the lower track and starts to move towards the middle track. KDJ Jinchao runs, MACD green column energy weakens. During the morning or the continuation of the rally, there may still be further downside in the European or US session.
At 10:04 GMT, spot gold prices were reported at 1657.88 US dollars per ounce.
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