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Comex Gold Stabilizes On Short Covering, Pares Loss After Post-FOMC Decline Sep 18 2014 3:01PM

Gold futures stabilized as Thursday’s session wore on due to profit-taking and short covering, bouncing from the lowest level since early January after overnight selling in the wake of a U.S. Federal Open Market Committee meeting.


Commentary

US Dollar Mixed After FOMC Rally Sep 18 2014 8:32AM

This has been a busy week for China, which is not making headlines simply because the FOMC and Scotland stole the show. That being said, New Home Price showed a marginal increase of 0.5% overnight. This is below expectations, the fourth consecutive decline on monthly basis, and adds to all the other horrible data that came out this week: Industrial Production, Retail Sales, FAI, China Foreign Direct Investment. Since China is highly leveraged in housing, this is not good news. That is why they came out with a surprise massive cash injection (around 85B) Tuesday and now they surprised markets again by cutting short-term repo rates. Seems there is a slight smell of panic in the air.


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Global Indices

Index data delayed 30 min.
updown DJIA 17,265.99 +109.14
updown NASDAQ 4,593.43 0.00
updown NIKKEI 16,329.63 +262.06
updown RUSSELL 1,159.27 0.00
updown NYSE 11,024.10 0.00
updown TSX 15,465.50 +6.66
updown USD 84.39 +0.13
updown Crude Oil 92.92 -0.15
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