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The hitherto long standing Yen/Gold dynamic has blown out further this morning and that is because the price of Gold in the Japanese currency has risen further. That is because the USD/JPY has risen above 152 this morning at the same time as the metal has taken a look above the $2,750 handle. Gold had closed in the US last night at $2,749.01. It has risen to a high so far today at $2,752.81. The noted topside trend line resistance has now shifted higher owing to the ever changing dynamics of the daily chart. Hence, that trend line is in place this morning at just above $2,760. Gold is also still defying the further rise in US yields this morning. The 10 year note is now at 4.23%. At the same time that further rise has helped to enliven the USD/JPY, but more on that in an update a little later. Gold is currently trading at $2,752.25
The price action across the major European stock markets has seen all three major indexes crumble even more. All of them are now deeper in the red and...
Yesterday the Nasdaq 100 closed at 20,227. The index has just this minutes officially reopened at 20,571 and that is a new record start for the index...
Earlier today the Dow Jones was priced to potentially reopen above 43,600. As noted earlier the record for the index before today stood at 43,325...
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