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1/12/2008 - The current market sentiment

Discussion in 'Current Market Sentiments' started by fx-recommends, Dec 1, 2008.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
    Likes Received:
    As what has been mentioned in the recent analysis, "God willing, The gold will face serious pressure at these levels right now and in the coming few days by the thanks giving holidays which can calm down the market volumes".

    The gold has slipped under 800$ per barrel on a greenback buying wave across the broad as a safe haven as a new wave of selling in the equity market amid weak manfacturing figures in EU and UK. The Manufacturing Purchasing Managers Index of November has come at just 35.6 and the market was expecting 41.1 and UK Manufacturing Purchasing Managers Index has come at 34.4 paving the way for further interest rate cuts decisions from ECB and the MPC by the same massive way.
    We wait now for US ISM manufacturing index of November and it is expected to stand lower than 50 in the contracting territory and lower than 40 as it has come in October at 38.9 to be 37.5.

    Best wishes

    FX Consultant
    Walid Salah El Din
    E-Mail: mail@fx-recommends.com

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