According to the latest surveys, only 23% of US companies are planning to hire more employees. The major reason is said to be the continued eurozone crisis.
This week, Ben Bernanke is to hold 2 speeches. Traders and investors will try to guess the Federal Reserve’s next step towards stimulating the US economy. Some experts say that after extending Operation Twist, the central bank is unlikely to take any major step in the same direction in the near future.
Italy successfully held another bond auction on Friday despite rating cuts. Another test for the eurozone bond market will take place on Thursday, when Spain is planning to hold its bond auction. At this point, the Spanish bond yield is declining. European finance minister are to meet on Friday in order to consider the financial aid to Spanish banks.
In the meantime, analysts expect China to take extra steps in order to stimulate the national economy.
Today’s forecast:
According to the Commodity Trading Department of , gold may test the resistance level located at 1592. On consolidating above 1592, the price will get an opportunity to hit 1600, 1608, and maybe 1617. A failure to do that, attended by a break below 1585, will trigger the bearish scenario, thus giving gold a chance to devalue down to 1575, 1565, or even 1550.
As for silver, it may test 27.40. On consolidating above 27.40, the price may reach 27.50, а закрытие выше 27.55, 27.75, and maybe 28.0. A failure to consolidate above 27.40, attended by a break below 27.20 will trigger a bearish move down to 27.0, 26.75-26.65, and maybe 26.50.
