Morning Insights 17th August

Simon Alagbe

Analyst


Instrument: GOLDs (XAU/USD)

The safe-haven metal is advancing on the back of concerns over regulation of China's internet sector and the recent surge in the number of infections of the delta variant of Covid-19. The deteriorating developments in Afghanistan have also aided its surge


Technicals: 

The yellow metal broke the 1783 resistance zone and has retested it supporting a move to the upside with a target at 1812.29 and stop-loss at 1780.55. 


Fundamentals 

Core Retail Sales m/m (US) 1:30 PM

Retail Sales m/m (US) 1:30 PM 

Industrial Production m/m (US) 2:15 PM

Fed Chair Powell Speaks (US) 6:30 PM

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