Market Overview

Central Banks in 2022

Last week was characterized by monetary policy meetings of many central banks and numerous institutions from emerging markets.

Gold

Gold is touching this morning the daily resistance set at 1810 dollars per ounce. In case of daily close above this level, we envisage 1840 and then 1880 dollars.

FED

Transitory inflation is dead. Yesterday the Federal Open Market Committee (FOMC), Fed’s monetary policy body, has definitively dropped the adjective “transitory” from its monetary policy stance.

US Inflation

The Federal Reserve has clearly set the tapering path. Powell, in fact, has indicated that he is ready to take action, further strengthening the newly launched tapering program.

Spread Gold vs Eurostoxx

The spread of Gold vs Eurostoxx has given us a first buy signal (i.e. long gold, short EUROSTOXX).

Nonfarm Payrolls

After yesterday’s OPEC+ meeting, today the focus of investors will be on Nonfarm Payrolls. The employment report is particularly relevant in this historical period.

Crude Oil

WTI futures expiring in January are down again at the opening of the U.S. markets to 63.85 $/barrel. Instead, Brent crude oil settled at 66.59 $/barrel, in retreat compared to yesterday.

SP500

In the short term market is retracing heavily: market with futures is now on support in the area between 4630 and 4585.

EURGBP Update

We envisage a bullish move of GBP vs Euro and dollar.
Resistance on monthly chart broken at 0,8550.

Gold – 10 November 2021

As anticipated in our previous analysis, Gold has reached very strong resistance in the area of 1830-1840 dollars.
This is the area that, if broken, could bring to a strong upmove of gold vs other asset classes.

Aleph Finance is a trading name of UCapital Asset Management LLP.

UCapital Asset Management is authorized and regulated by the FCA – Financial Conduct Authority – with registration number 477155.
UCapital Asset Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.

Registered Company number OC333807.

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Aleph Finance is a trading name of Pairstech Capital Management LLP.
Pairstech Capital Management LLP is authorized and regulated by the FCA – Financial Conduct Authority – with registration number 477155.
Pairstech Capital Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.
Registered Company number OC333807.

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Aleph Finance is a trading name of Pairstech Capital Management LLP.
Pairstech Capital Management LLP is authorized and regulated by the FCA – Financial Conduct Authority – with registration number 477155.
Pairstech Capital Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.
Registered Company number OC333807.

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Decline