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This Week Market awaits new Fed chief

8 months ago

Polls in Japan last Sunday set the course for early week trading. Abe was re-elected as PM with a thumping 2/3rd majority and declared that the new levy -sales tax would be implemented as decided.

USDJPY fared well since Monday morning, however the bulls failed to break the 114.30 level last week. Gold started with a gap down on Monday morning but was quickly filled soon after during the day. The precious metal was under pressure for the entire week both from the fundamental and technical standpoint. Gold broke the 100dma last week and was poised for testing at $1260. Read More