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On Friday, Germany announced a monthly rate of .%, which was the same as the previous value and market expectations. By comparing Germany's annual rate with the Eurozone's annual rate, we can find that the German economy occupies a dominant position in the Eurozone. Its economy's long-term low inflation level directly affects the Eurozone's maintenance of the existing low interest rate economic policy.
On Friday evening, the United States announced the previous value, forecast value, and announced value of the University of Michigan Consumer Confidence Index. The announced value was slightly better than the forecast value and slightly lower than the previous value. Although it is a survey and assessment of the market conducted by a private organization, it also reflects to a certain extent that the overall trend of the U.S. economy is still improving. Consumer confidence is relatively high, which boosts the strength of the U.S. dollar.
Fundamentals:
Affected by the approaching Brexit referendum, investors are worried that once the UK leaves the EU, it will have a major blow to the European economy. All major European stock markets experienced sharp declines on Friday, with Germany's D index closing at 0.3%, the British index closing at 0.3%, and the French index closing at 0.3%. While European stock markets were in mourning, the U.S. dollar index continued to rebound on Friday and closed at .%. It can be seen that when uncertainties occur in the global financial market, the trend of global capital returning to the United States is obvious. The U.S. dollar and precious metals are still the first choice for investors.
To sum up: Against the background of the two major events of the British Brexit referendum and the Federal Reserve's interest rate hike, the market's risk aversion will continue to increase. Precious metal prices will still continue their upward trend for two weeks. The price of gold will be US$/ounce in the short term. Spot silver can see yuan/kilogram in the short term. It is recommended that investors mainly go long on dips.
On the London gold hourly chart, the price has risen steadily along the middle track of the Bollinger Bands. However, after continuous rises, there may be a technical correction. Investors should be wary of short-term price declines and can try to enter long positions in the short term.
Operational suggestions:
Radicals: go long, stop loss and take profit
Stable people: go long, stop loss and take profit.
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