The EURUSD pair fell slightly during the course of the session on Monday, and as a result I feel that there is more than enough support below to eventually find buyers, and I believe that the 1.1150 level below is massively supportive.
Gold and silver have started the new trading week, month and quarter on the back foot today. At the time of this writing, gold was trading at $1312 and silver was below $19.00 per troy ounce once again.
News that the UK manufacturing activity in September hit its highest level since June 2014 has provided a welcome relief for sterling.
European stock markets started this last day of the month and quarter sharply lower as concerns over Deutsche Bank intensified, which undermined sentiment in the financial sector once again.
Crude prices jumped in reaction to the latest weekly US crude stockpiles data but then quickly went into reverse gear, before bounce back once again.
The AUDUSD pair initially fell during the course of the session on Monday, but then turned around to form a very positive candle.
The EURUSD pair initially fell during the course of the session on Monday, but turn right back around to reach higher.
It hasn’t been a great start for global equities in this last week of September, with European indices dropping between 1.0 to 1.5 per cent during Monday’s morning session, mirroring a similar performance in Chinese and Japanese markets overnight.
The technical support platform in the $1305 per ounce area came to the rescue of gold once again last week, with five consecutive days of gains, taking the precious metal from the gapped up open of Monday at $1313 per ounce to end the week at $1341.70 on the December contract.
GBPUSD’s downward movement from 1.3445 extended to as low as 1.2914.
