Todays numbers and especially from Trichets talk on ECB’s stance on future rate hikes made the EUR fall over 100 pips. Gold followed and has broken a 4HR support line and currently heading towards daily support of 918.45, possible 900 figure coming into view by next week after the 4th of July celebrations. I guess it’s a little Independance day present

Basically Trichet mentioned that the ECB has no bias and Q2’s numbers won’t be as flattering as the current first quarters, hinting that inflation should be under control and not calling for further hikes.

Gold is now currently at 928.50 and falling.

Thursday, July 3rd, 2008 @ 10:04 am Uncategorized
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