The Yen Plunges Together with Gold

The Yen Plunges Together with Gold

Greetings! Let’s start the week together. First, significant events. Second, daily news. Everything you need to know in a single post. Enjoy!

Economic calendar

The time zone is GMT+3. Check yours here.


  • 12:00, EU CPI and Core CPI Flash Estimate y/y


  • Swiss Bank holiday
  • 07:30, Australian Cash Rate and Rate Statement
  • 17:00, US ISM Manufacturing PMI and Prices
  • 17:00, US JOLTS Job Openings


  • 01:45, NZD Unemployment Rate
  • 15:15, US ADP Non-Farm Employment Change


  • OPEC-JMMC Meetings
  • 09:30, Swiss CPI m/m
  • 14:00, BOE Monetary Policy Report and Bank Rate
  • 14:30, BOE Gov Bailey Speaks
  • 17:00, US ISM Services PMI


  • 15:30, Canada Unemployment Rate
  • 15:30, US NFP, Average Hourly Earnings, and Unemployment Rate

News to follow today

  • China’s official July Manufacturing PMI is 49.3 (vs. expected 49.2). USDCNH is moving sideways.
  • HK50 is up another 5.4% since last Friday following news about economic stimulus from the Chinese government.
  • SEC asks Coinbase to stop trading everything but BTC. Coinbase rejected the offer. BTCUSD gained 0.5% at the beginning of the day.
  • According to Bloomberg, hedging Against SP500 (US500) Drop Has Never Been Cheaper In History - a massive bearish sign for the US stock market.
  • The Swiss National Bank posted a second-quarter loss of 13.20 billion Swiss francs ($15.14 billion), it said on Monday, as interest rate hikes by other central banks dented the value of its massive bond holdings.
  • The Bank of Japan started an unplanned bond buying today. USDJPY is skyrocketing.

Gold analysis for the week ahead

Please note that gold analysis in the Telegram channel is a short-term trade. On a bigger scale, we have the following: the metal started a local downtrend. XAUUSD may reach the resistance of $1966 before sliding lower. However, a decline from the current level ($1955) is also possible.

The target for the gold lies at the support of $1945. The breakout of this level would mean gold is aimed at $1935.


Have a profitable day!



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