[Market Evening] Gold Remains Bearish Unless Bulls Rise Above 1792

As of 17:00 (GMT+8), spot gold fell 0.240% to $1775.19/oz, and spot silver fell 0.760% to $20.097/oz.

Comment: The international gold price was stable, as the US dollar index rose sharply in the previous two trading days and adjusted. However, the prospect of aggressive interest rate hikes by the Federal Reserve is still negative for gold prices. The market is concerned about the upcoming US retail sales data and the minutes of the Fed meeting, which are expected to bring new directions to gold prices.

Suggestion: short spot gold at 1774.90, and the target point is 1764.50.

As of 17:00 (GMT+8), the US dollar index rose 0.216% to 106.62, EUR/USD fell 0.189% to 1.01392; GBP/USD fell 0.163% to 1.20363; AUD/USD fell 0.202% to 0.70111; USD /JPY was up 0.435% at 133.852.

Comment: Compared with the first quarter, the German economy stagnated in the second quarter. The weakness of Germany’s economic conditions, coupled with the rebound of the dollar, has led to a continuous decline in the euro against the dollar. At the moment, no matter from the hourly chart to the daily chart, the EUR/USD is gradually falling below the short-term moving averages, and various technical indicators also seem to gradually turn from the positive area to the downside.

Suggestion: short position of EUR/USD 1.01380, target point 1.01000.

As of 17:00 (GMT+8), WTI rose 0.667% to $87.839/barrel; Brent rose 0.594% to $93.243/barrel.

Comment: International oil prices remain weak, the prospect of increased US shale oil production brings selling pressure, and the Permian Basin, the largest US shale oil producer, is expected to hit a record high. Investors also focused on the restart process of the 2015 Iran nuclear deal. More oil could enter the market if Iran and the United States accept the EU’s offer.

Suggestion: long US crude oil at 87.940, and the target point is 89.380.

1. Nu Holdings, a Brazilian financial technology company, added 5.7 million new customers in the second quarter;

2. Game developer Regression Games completed a seed round of financing of US$4.2 million, and a16z participated in the investment;

3. StarkWare releases recursive proof to support bundled NFT minting transactions;

4. Celsius report: its net cash flow is expected to drop to negative $137 million by the end of October;

5. Bitcoin miner Greenidge Generation Holdings reported second-quarter revenue of $31.3 million, below analyst expectations;

6. The Federal Reserve issues guidance on providing access to “primary deposit accounts” for fintech and crypto firms;

7. Aave: On-chain wallet address review will require DAO consensus;

8. Crypto custody company BitGo plans to sue Galaxy Digital for withdrawing from the acquisition agreement and seek $100 million in damages;

9. The EU is about to create a new anti-money laundering regulator to oversee cryptocurrencies.

The Taiwan Weighted Index rose 0.123% to 15,425.4 points;

The Nikkei 225 rose 0.068% to 28,884.5 points;

Hong Kong’s Hang Seng Index fell 1.181% to 19835.0 points;

Australia's S&P/ASX 200 rose 0.278% to 7116.15.

20:30(GM+8):

The initial monthly rate of construction permits in the United States in July (%)

The initial value of the annualized total number of building permits in the United States in July (10,000 households)

The annualized monthly rate of housing starts in the United States in July (%)

The annualized total number of new housing starts in the United States in July (10,000 households)

Canada July CPI annual rate (%)

Canada’s July unseasonably adjusted CPI monthly rate (%)

Canada’s July Core CPI-Ordinary Annual Rate (%)

The annual rate of the Bank of Canada’s core CPI in July - not seasonally adjusted (%)

21:15(GM+8):

US July industrial output monthly rate (%)