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Gold futures rallied during the Asian session, its highest since June 7, when it tested its highest since April 19, 2018, deflecting the dollar index for the fourth session in six sessions from its lowest since 26 From March, according to the inverse relationship between them on the eve of developments and economic data expected on Friday by the Chinese economy, the world's largest consumer of metals and his US counterpart, the world's largest economy.

Gold futures for August delivery rose 0.32% to currently trade at $ 1,350.80 per ounce from the opening at $ 1,346.50 per ounce, while the dollar index rose 0.05% to 97.06 compared to the opening at 97.01. .

The markets are now looking for China's National Bureau of Statistics to release its annual retail sales index, which may reflect a rapid growth to 8.0% from 7.2% in April, coinciding with the Industrial Production Index's annual reading, which could show a 5.4% growth Little changed from what it was in April, and also with the reading of unemployment rates last month.

On the other hand, investors are currently looking for the US economy to reveal the reading of retail sales, which account for about half of consumer spending, which accounts for more than two thirds of the US gross domestic product, which may reflect a rise of 0.7% compared to a 0.2% decline in April, while may The core reading of the same index shows growth accelerating to 0.5% versus 0.1% in April.

This comes before we see the largest industrialized country in the world disclosure of industrial sector data for the month of May with the release of the index of industrial production, which may show a rise of 0.2% compared to a decline of 0.5% in April, while may show reading the index rate of exploitation Energy accelerated growth to 78.0% compared to 77.9% in April.

Leading to the release of the University of Michigan's consumer confidence index, which may reflect a widening of 98.1 versus 100 in May and consumer expectations of inflation for one year ahead and five years to come, Up 0.4% against stability at zero levels in March.

Technical Analysis

The price of gold has touched 1346.70 and attempts are underway to breach it, supporting the short-term uptrend, with our next target at 1365.25.

Therefore, we expect further upside in the coming sessions supported by SMA 50, noting that the continuation of the expected rally requires stability above 1320.30.

The trading range for today is among the support at 1335.00 and resistance at 1365.00.

The general trend for today is bullish.

The US dollar fluctuated in a narrow range slipping towards the Asian session to see its fourth session retreat since May 31 against the Japanese Yen following developments and economic data that followed the Japanese economy, the third largest economy in the world and on the eve of economic developments and data expected today Friday by the US economy, the world's largest economy.

At 05:51 am GMT, the pair dropped 0.06% to 108.32 from the opening level at 108.38 after recording a low of 108.27 and a high of 108.40.

On the Japanese economy, the final reading of industrial production, which showed a stable growth of 0.6%, unchanged from the previous preliminary reading for April, is in line with expectations, compared with 0.6% decline in March, while reading The index itself was stable at 1.1% and 4.3%, while the energy utilization rate showed a rise of 1.6% against 0.4%.

On the other hand, investors are currently looking for the US economy to reveal a reading of retail sales, which accounts for about half of consumer spending, which accounts for more than two-thirds of US GDP, which could reflect a 0.7% gain versus a 0.2% fall in April, The core reading of the index itself accelerated to 0.5% from 0.1% in April.

This comes before we see the largest industrialized country in the world disclosure of industrial sector data for the month of May with the release of the index of industrial production, which may show a rise of 0.2% compared to a decline of 0.5% in April, while may show reading the index rate of exploitation Energy accelerated growth to 78.0% compared to 77.9% in April.

Leading to the release of the University of Michigan's consumer confidence index, which may reflect a widening of 98.1 versus 100 in May and consumer expectations of inflation for one year ahead and five years to come, Up 0.4% versus stability at zero levels in March.

Technical Analysis

USDJPY continues to fluctuate when supporting the bullish intraday channel, and the price needs to confirm a break of 108.30 to get a good negative incentive that strengthens the chances of resuming the main bearish trend, noting that the main targets start with breaking the 108.00 level to confirm the extension of the downside wave towards 106.75.

Therefore, the bearish trend will remain in the short and short term unless the level of 108.80 is broken and stability above it.

The trading range for today is expected among the key support at 107.50 and the resistance at 108.80.

The general trend for today is bearish.

Amazon shares rose after support steadied 1679.23 and reached resistance 1890.43.

The price is moving above the moving averages 7-20 and 50 which are forming support levels for the price and the price is pressed to rise and test the resistance again.

Stochastic is out of the overbought areas in a bearish move so we can see some correction in the price action.

The expected movement between 1679.23 support and 2050.79 resistance.

General direction of the movement: upward.

GBPUSD

The pair is trading within the range of 1.2656–1.2745 amid the UK government crisis. The pair may continue falling if Tories elect Boris Johnson as the Prime Minister.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is moving horizontally. Stoch have reversed downwards.

Trading recommendations:

Sell the pair as it breaks through the level of 1.3665 and takes hold below it with a possible local target of 1.2615.

The single currency of the European Union region fluctuated in a narrow upward range during the Asian session, reversing its seventh session in 11 sessions since May 23, when its lowest since May 19 of 2017 against the US dollar on the eve of Developments and economic data expected Thursday by the economies of the euro zone and the US economy, the largest economy in the world.

At 4:17 am GMT, the EURUSD rose 0.04% to 1.1292 compared to the opening at 1.1287, after reaching a high of 1.1298, while reaching a low of 1.1287.

Investors are looking for Germany, the biggest economy in the euro area, to release the final CPI reading, which could reflect a stable growth of 0.2%, unchanged from the previous April reading and 1.0% in March before seeing the third largest economy The region of Italy released a reading of the Unemployment Rate, which may reflect a decline to 10.4% compared to 10.6% in the fourth quarter.

Markets are also looking for Euro zone economies to release the seasonally adjusted Industrial Production Index, which could reflect a widening of the decline to 0.4% versus 0.3% in the previous March reading. % In the previous annual reading for the month of March.

This comes in conjunction with Eurogroup meetings attended by the President of the Euro Group, the Ministers of Finance of the Euro-Zone Member States, the Commissioner of Economic and Monetary Affairs, as well as the ECB Governor, which discusses various financial issues such as the euro support mechanisms and government funding. And its government budget this year amid speculation the European Union will impose disciplinary measures against Italy.

Italian Prime Minister Giuseppe Conti said last week that his government was seeking to cut the budget deficit for 2019 to 2.1 percent of its gross domestic product (GDP) to avoid disciplinary action by the European Union, hours after Italian Finance Minister Giovanni Treya said Monday The past expressed confidence in the chances of reaching an agreement with the European Commission on the Italian budget.

On the other hand, the markets are currently waiting for the US economy to reveal the reading of the index of claims for the week of June 7, which may reflect a decrease of 3 thousand applications to 215 thousand requests, in conjunction with the publication of the import price index, which may reflect a decline 0.3% versus 0.3% in April, while the same year's annual reading may show a 1.4% drop to 0.2%.

"The euro and other currencies are being devalued against the dollar, which makes their country in a very disadvantageous position," he said, echoing the Federal Reserve's policy of high interest rates. On the federal funds, where he chirps that "the interest rate is too high, reinforcing the absurd quantitative emphasis, they have no idea."

Trump's comments came a week before the FOMC meeting on June 17-18, in which monetary policy makers were expected to reveal their expectations for growth, inflation and unemployment, as well as the future interest rates for the next three years. Recent speculation has grown that the Fed may later offer a cut in federal funds rates.

Technical Analysis

EURUSD extended slightly negative trading yesterday to close the first pivotal support test at 1.1255, where the price is affected by stochastic negativity, but the SMA 50 continues to provide positive support for the price, keeping the bullish scenario intact for the coming period, awaiting the key test of 1.1443.

Keep in mind that breaking 1.1255 and 1.1180 will halt the expected rally and press the price to resume the medium term bearish trend.

The trading range for today is among the key support at 1.1230 and resistance at 1.1380.

The general trend for today is bullish.

Gold futures traded in a tight range sloping upward during the Asian session to see their rebound for the third session of its lowest since June 3 amid the decline of the dollar index according to the inverse relationship between them on the eve of developments and economic data expected Thursday by the US economy larger World economy.

At 03:53 am GMT, gold futures for August delivery rose 0.05% to currently trade at $ 1,338.40 per ounce from the opening price of $ 1,337.80 per ounce. The US dollar index fell 0.01% to 96.95 from the opening at 96.96. .

Investors are currently waiting for the US economy to release a reading of the index of claims for the week ending on June 7, which may reflect a decrease of 3 thousand requests to 215 thousand requests, in conjunction with the publication of the index of import prices, which may reflect a decline of 0.3% against Up 0.3% in April, while the same year's index may show a widening of the decline to 1.4% vs. 0.2%.

Otherwise, we have followed yesterday the remarks of US Commerce Secretary Wilbur Ross, during which he noted that both President Donald Trump and his Chinese counterpart, Xi Jinping, may decide to reopen trade talks. The G20 summit scheduled for June 28-29 in Japan Will not be the place of signing the trade agreement between countries, adding that President Trump wants structural reforms in the trade agreement with China.

US Trade Secretary Ross also said the Fed should have reconsidered the recent increase in interest on federal funds that was premature, less than a week before the FOMC meeting in Washington was due to be unveiled. During which he expressed the Commission's expectations for growth rates, inflation and unemployment as well as the future interest rates for the next three years.

US President Trump said earlier this week that a trade deal with China could be reached because of tariffs and that Huawei could be part of the trade deal with China. He said economic growth Stronger for the US during the first quarter, which exceeded expectations came from tariffs.

In the same context, US President Trump warned on Monday that if his Chinese counterpart Xi Jinping did not attend the G-20 summit, he would immediately impose tariffs on Chinese goods, saying that Beijing should reach a trade deal with Washington because of its need To reach agreement, adding that China is currently exposed to complete destruction.

US President Trump noted at the time that foreign companies were working to leave China and go to other countries, including the United States. He said that the lack of a trade agreement with China would mean more tariffs, adding that tariffs are good and give America a huge competitive advantage, "We were talking about an agreement with Mexico for months and there was no agreement even to impose tariffs."

US President Trump has repeatedly noted that China can expect to face more tariffs on its exports to the country, adding that America has already prepared a list of Chinese goods worth $ 300 billion, and that this list may be subject to fees, Of Washington and Beijing last month raised tariffs on each other's goods to 25% of 10% in an escalation of trade protection among them.

Technical Analysis

Gold is around 1335.00, and the price needs to be positive enough to push the pair to continue to rise, with our first positive target at 1346.70.

In general, we continue to favor the bullishness supported by the SMA 50 provided stability above 1320.30, as a breach of this level will press the price to test the areas of 1302.60 before any new attempt to rise.

The trading range for today is among the support at 1320.00 and resistance at 1350.00.

The general trend for today is bullish.

The US dollar fluctuated in a narrow range slipping towards the Asian session to see its third session retreat since May 31 against the Japanese Yen following developments and economic data that followed the Japanese economy, the third largest economy in the world and on the eve of developments and economic data expected today Thursday by the US economy, the world's largest economy.

At 05:59 GMT, the pair was down 0.15% to 108.34 from the opening level at 108.50 after recording a low of 108.17 and a high of 108.54.

We have followed the Japanese economy, the world's second-largest industrial nation, as the Bank of Japan unveiled manufacturing manufacturing statistics, which showed a contraction of 10.4 to 7.3 in the first quarter, above expectations of 4.5, Which rose 0.8% from 0.2% in March, beating expectations for a 0.4% gain.

On the other hand, the markets are currently waiting for the US economy to reveal the reading of the index of claims for the week of June 7, which may reflect a decrease of 3 thousand applications to 215 thousand requests, in conjunction with the publication of the import price index, which may reflect a decline 0.3% versus 0.3% in April, while the same year's annual reading may show a 1.4% drop to 0.2%.

Technical Analysis

USDJPY is showing further bullishness towards the pivotal resistance of 108.80. We note that the SMA 50 is putting pressure on the price to protect the negative scenario suggested in our recent reports. Therefore, we are waiting for a bearish bounce to initial the 108.00 level, 106.75 as a next station.

On the other hand, it should be noted that the breach of 108.80 is considered the initial positive key to regain the bullish trend again.

The trading range for today is among the key support at 107.80 and resistance at 109.00.

The general trend for today is bearish.

The Australian dollar fell during the Asian session to see its rebound to a third session in five sessions of its highest since May 8 against the US dollar following developments and economic data followed by the Australian economy and on the eve of developments and economic data expected Thursday by the US economy, the world.

At 02:26 am GMT, the Australian dollar fell 0.19% to 0.6915, compared with the opening levels of 0.6928, after reaching its lowest level since late last month at 0.6912. 0.6937.

We followed the Australian economy by the Melbourne Institute reading of consumer expectations of inflationary pressures, which showed a stable growth of 3.3%, unchanged from May. This was before we saw data on the labor market, which showed the stability of unemployment rates at 5.1 , Unchanged from last April, in contrast to expectations for a 5.1%.

We also followed the reading of the Employment Change Index, which fell to 42.3K versus 43.1K in April, beating expectations of 16.0K, hours after Assistant Governor of the Australian Central Bank, Lucy Ellis, delivered a speech entitled "Watching the Invisible Things" In Melbourne and the dumping of assistant governor of the Reserve Bank of Australia to the financial markets Christopher I was brief remarks at the Australian renminbi forum.

On the other hand, the markets are currently waiting for the US economy to reveal the reading of the index of claims for the week of June 7, which may reflect a decrease of 3 thousand applications to 215 thousand requests, in conjunction with the publication of the import price index, which may reflect a decline 0.3% versus 0.3% in April, while the same year's annual reading may show a widening of the decline to 1.4% versus 2%.

Technical Analysis

AUDUSD was able to confirm the support of the bearish flag shown in the picture, reinforcing expectations for the bearishness over the short and medium term, supported by the negative pressure formed by the SMA 50, while recalling that our first target is at 0.6860.

We point out that the above target will push the price towards 0.6707 in the near term, while the expected decline will remain unless the level of 0.7044 is breached and stability above it.

The trading range for today is expected among the support at 0.6850 and resistance at 0.6950.

The general trend for today is bearish.

Cisco shares form a triple top pattern as the stock rallied again after testing support at 50.95

The moving averages move below the price and form support levels for the price and pressure it to rise.

Stochastic is in the overbought area and tries to exit it in a bearish signal.

Overall indicators give conflicting signals on the movement so we commit to neutrality.

The general trend of the movement is neutral.

GBPUSD

The pair dropped to the lower edge of the range due to the weaker GBP, which is caused by domestic issues in the UK. The USD’s overall uptrend in currency markets also negatively affects the pair.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages suggest selling. RSI is below the level of 50% and is falling. Stoch are within the oversold territory and aren’t informative.

Trading recommendations:

Sell the pair when its breaks through the level of 1.2665 with a possible local target of 1.2615.