Instrument: GOLD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1925.80 with take profit at 1933.12
Bearish Preference:
A Sell position is envisaged if the price trades below 1914.12 with take profit at 1908.86
Fundamentals:
1:30pm USD Unemployment Claims
Comment:
European stock futures surge higher; Credit Suisse shores up position European stock markets are expected to open firmly higher Thursday as embattled lender Credit Suisse moved to shore up its liquidity position ahead of a European Central Bank policy-setting meeting. Credit Suisse (SIX:CSGN) announced late Wednesday plans to borrow as much as CHF 50 billion ($1 = CHF 0.9297) from the Swiss National Bank, a move the Swiss bank described as “decisive action to pre-emptively strengthen its liquidity”. The bank’s shares plummeted to a record low on Wednesday as its main investor, Saudi National Bank, said it was unable to provide more funding to the lender, which has struggled with hefty customer outflows after a string of scandals in recent years. It also followed the recent collapse of three U.S. regional banks, most notably Silicon Valley Bank.
Analysis: SCRUM Team
