Swiss Market Ends Modestly Higher On Strong Industrial Output Datafxcue.com

(fxcue news) - The Switzerland market ended modestly higher on Friday after a choppy session. The mood remained positive almost right through the day's session thanks to data showing a sharp surge in the nation's industrial output, and on hopes the Federal Reserve will start cutting interest rates in September. Lindt & Spruengli, Swiss Re, Julius Baer, Logitech International, Novartis, UBS Group and Nestle gained 0.6 to 1%. Sika, Swiss Life Holding, Sonova, Givaudan, Swisscom and Geberit posted modest gains. Straumann Holding and Swatch Group lost 1.3% and 1.22%, respectively. VAT Group ended nearly 1% down. SGS ended 0.53% down. The benchmark SMI ended with a gain of 38.51 points or 0.32% at 12,188.73. The index, which climbed to 12,222.01 around mid morning, briefly slipped into negative territory around mid afternoon before recovering to close higher. Data from the Federal Statistical Office said Swiss industrial production surged 7.3% year-over-year in the second quarter, reversing a 2% fall in the first quarter. Further, this was the biggest increase since the first quarter of 2021, when production had risen the same 7.3%. The output produced in the manufacturing sector was 6.8% higher compared to last year versus a 3.2% decline in the previous quarter. Data showed that the declining trend in construction output ended in the second quarter and advanced 0.8% compared to last year after a 2.9% decline in the second quarter.

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Gold trading: 2615 short selling, loss 2624, take profit 2593

Gold short selling stop loss...

Today's gold trading strategy 1: Buy long until it falls back to around 2589, lose 2582, look short around 2615, target 2620-25; Strategy 2: Short sell when the rebound reaches around 2625, with a loss of 2633. Short look around 2590, with a target of 2560.

Sell near spot gold 2604, protect 2614, target 2582-2570; Break through holding;

Gold bought more at 2590 in the morning session of the Asian market today, 2585, with a target of 2610.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.0-67.5 below.

Today's short-term operations in gold are mainly focused on rebound short selling, supplemented by buy long during pullbacks. The short-term focus above is on the resistance line of 2605-2610, while the short-term focus below is on the support line of 2575-2570.

Today, I made two gold trades and achieved a perfect profit

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Swiss Market Ends Modestly Higher On Strong Industrial Output Data

Canadian Stocks Turning In Mixed Performance

U.S. Industrial Production Decreases 0.6% In July

U.S. Housing Market Index Unexpectedly Drops To Eight-Month Low In August

U.S. Import Prices Unexpectedly Inch Up 0.1% In July

UK Retail Sales Recover In July

Malaysia GDP Growth Rises More Than Estimated

Swiss Market Ends Modestly Higher On Strong Industrial Output Data

Pound Rises On Strong U.K. Retail Sales Data

Please sign in

Trader

Gold trading: 2615 short selling, loss 2624, take profit 2593

Gold short selling stop loss...

Today's gold trading strategy 1: Buy long until it falls back to around 2589, lose 2582, look short around 2615, target 2620-25; Strategy 2: Short sell when the rebound reaches around 2625, with a loss of 2633. Short look around 2590, with a target of 2560.

Sell near spot gold 2604, protect 2614, target 2582-2570; Break through holding;

Gold bought more at 2590 in the morning session of the Asian market today, 2585, with a target of 2610.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.0-67.5 below.

Today's short-term operations in gold are mainly focused on rebound short selling, supplemented by buy long during pullbacks. The short-term focus above is on the resistance line of 2605-2610, while the short-term focus below is on the support line of 2575-2570.

Today, I made two gold trades and achieved a perfect profit

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