Longer term investors in both gold and silver have no doubt become increasingly frustrated over the last few months, as first the metals gain some bullish momentum, only to see this promptly reversed with a return of bearish sentiment.
China (FXI, quote) had net capital inflows throughout the first quarter, although the surplus narrowed each month during the period, according to the State Administration of Foreign Exchange.
The AUDUSD pair fell during the session on Thursday, but found support at the all-important 0.9250 level again.
The EURUSD pair went back and forth during the session on Thursday, ultimately settling on a slightly positive candle.
The GBPUSD pair fell initially during the session on Thursday, but found enough support below at the 1.68 level to push things higher inform something along the lines of a hammer.
The USDJPY pair fell during the bulk of the session on Thursday, but found enough support right around the 102 level to turn things back around and form a hammer.
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Speculation on China’s demand for copper (JJC, quote) has sent copper to a seven week high this morning of $3.09 not seen since March 7th.
EURUSD failed to break above 1.3864 resistance, indicating that the pair remains in downtrend from 1.3905, the rise from 1.3785 could be treated as consolidation of the downtrend.
AUDUSD stays in a downward price channel on 4-hour chart, and remains in downtrend from 0.9461.
