Precious metals continue to gather momentum today , an ounce of gold displayed in full form after reaching a record for the fifth straight session . For its part , the money advantage of this movement, climbed yesterday to a higher level in nearly two years.

Although the forex market is overheating , investors remain confident and expect an ounce breaching the psychological threshold of $ 1,300 shortly.

According to many experts, this threshold could be reached within two days if concerns persist about the global economy .

Accordingly , investors should be careful in the coming hours the release of U.S. indicators , particularly on the employment sector and the housing market . Speculation is also rife about the intentions of the Fed might be tempted to use the new flexibilities , which enhances the movement massive of decline in gold .

From the perspective of technical analysis , an ounce is expected to climb to 1310 dollars , entering a channel of evolution higher . RSI (Relative Strength Index ) rose to 77.34 , its highest since December 2009, suggesting that the market is overheating and that a corrective movement on the price of gold can not be excluded .

Due to the shutdown of major Asian markets , the volumes traded on the gold market are very low. Many investors back in this morning. Many have also benefited from this session rather quiet to take their profits. However , the expected figures in the day could change that quickly.

- The major Asian financial markets are closed today - the U.S. dollar and Treasury bills are slightly higher

- United States , Congress will vote on a law to engage in punitive tariffs on direction Chinese imports if China continues to manipulate its currency

- In Sweden , the last reported results suggest that the Alliance of Prime Minister Reinfeldt has two seats to obtain the majority

Because of holidays, the markets are closed today in Japan , China, South Korea and Hong Kong and no news major has come disturbed this holiday during the night. The awards have changed very little since the closure of European markets yesterday.

The tension continues cons to rise between the U.S. and China regarding the policy exchange rate of the yuan . According to Nancy Pelosi , next week , Congress will vote on legislation that would allow punitive measures vis- à- vis imports from China due to manipulation China's currency by Beijing. However , it is uncertain whether this bill passes the filter of the Senate. When changing , it is possible that tensions grew between Washington and Beijing.

Yesterday the sentiment U.S. markets was somewhat negative due to disappointing results from Adobe and poor indicators for the U.S. housing market . Thus, because of this pessimism , the S & P 500 closed down 0.5 %. Since then, the sentiment in financial markets seems to have improved slightly , the opening of places European could prove it.

On the currency markets , the U.S. dollar regained some ground in the night against the euro and the yen after heavy losses during the European session . The EUR / USD and USD / JPY traded respectively in 1339 and 84.6.

At the Scandinavian currencies , the Norwegian krone was displayed up last night after the Norges Bank. Moreover , because of the difficulties of Swedish Prime Minister to form a majority government , the Swedish krona has slightly slumped against the euro . The Prime Minister should seek another partner government to obtain a majority in Parliament.

The news of the day

It's a day rather interesting that opens the field of macroeconomic data. Indeed , several indicators are expected, the PMI index Flash for Eurozone this morning that should disappoint the markets. In the afternoon , it was not until the weekly claims for unemployment benefits across the Atlantic that may appear on the decline, confirming the movement in recent weeks. Finally , attention will focus once again on the U.S. housing market with the release of sales of old houses. Drafting forex.fr expects a good surprise because of the data reported last month.

On the forex trading market , because of the likelihood of further relaxations in the U.S., we expect a weakening of the dollar for the rest of the year. However , this decline could be contained and smaller than in 2009. It is worth noting 's speech Tim Geithner today should clarify a little more battle between Washington and Beijing on the yuan.