This post was originally published on this site.FUNDAMENTAL OVERVIEW   The Nasdaq has been trading in a tight range this week as traders await the crucial US CPI report due on Friday. If you recall, the Nasdaq rallied strongly last Thursday after some dovish Fed’s Waller comments indicated that he would be willing to keep interest rate unchanged at the September meeting barring a hot CPI. On Friday, the price spiked lower after the US NFPsurprised to the upside showing job growth in August almost tripling the consensus estimate of 56Ka strong. The losses didn’t last long, though, as most...

This post was originally published on this site.Gold is trading up over 1% today to be back above the $4,400 level currently. That chips away at some of the declines from the past few days but is this enough to signify a turnaround in price momentum for the precious metal? Well, not quite. What is behind the bounce in gold today? The simplest story comes from the technical side of things. The drop in gold last week saw price fall to test the 50.0 Fib retracement level of the swing higher from July to August, seen around $4,328. That before...