The forex market have experienced a fluctuated August period from the point of economical and political developments in many countries all around the world. We can observe the horizontal – negative trend on gold and silver market during August. Especially, the effect of conflict and war conditions in Syria and Iraq on oil market has started to decrease visibly. The oil prices started to return to normal at the last times.
At the beginning of August 2016, the gold price reached 1,372 USD level on the global forex market. The first days of last month were high tension days in many economies and there were different developments. So, it was increasing the political and economic risks on gold market. But, when we come at the end of August, we could observe a negative trend. In August 15, the parity decreased to 1,346 USD and in August 30, the parity reached 1,316 USD level. Many investors define gold market as safe harbour , but better world conditions are providing the decreasement on gold market.
Expectation about September : The general expectation of gold market will be horizontal a bit during the September. We may observe a bit rise in prices, and the market can try 1,330 USD support level again.
In summer months of 2016 year, the star of silver market has shined between commodities on the global forex market. The main reason was inconsisten conditions of world economies and also gold market. So, the traders who are making buying – selling transactions on the global forex market, started to prefer silver market. At the beginning of August, the parity reached 20,810 USD level. With starting August, the parity decreased a bit and reached 18,673 USD level.
Expectation about September : The general expectation of silver market will be a bit positive during the September. The parity may try 20.000 USD level in the second part of September again.
Brent oil Market
August was a bright month for who are making trading on brent oil market. Because they found the opportunity to get more and more profit on the global forex market with using brent oil parity. The positive trend had continued during all month of August. So, the parity reached 50,91 level in the middle of the month. But, with starting the first days of September, the parity decreased to 46,20 level on London stock market.
Expectation about September : The general expectation of silver market will be positive during the September. The parity may try 48.00 and 49.00 USD level in September again as a support level.
Crude oil Market
After hard 2015 and first half of 2016, the crude oil market started to give recovery signals on the global forex market. Many investors had demanded purchasing crude oil position and they tried to get profit after transactions. In the first day of August, we could observe 40.05 USD level on crude oil market. But, there were providing solutions for the problems in Middle East Region, which is affecting crude oil market seriously. So, the prices reached to 48.82 in August 21. It was the top point of August, after we could observe a horizontal – negative trend. At the end of the month, the parity closed 44.85 USD level.
Expectation about September : With developing relations in Syria and Iraq, there may be a bit positive atmosphere on crude oil market. But, this region is always unsecure, so you have to take precautions like hedging while purchasing crude oil position on the global forex market.
Natural Gas Market
The traders who have invested on natural gas market both lost and earned some capital. Because, this market has experienced a very fluctuated August. During the month, the price range vary from 2,54 to 2,95 USD level. At the end of the August, the price reached to 2,87 USD level.
Expectation about September : As a general expert view, the parity will experience a negative process. If you are a small investors, it will be beneficial to keep away from the natural gas market on the global forex market.
The copper market has become an important commodity option on the global forex market at the last years, so many people started to prefer copper market to purchase and sell positions. There were serious fluctuations on copper market during the August. But, at the last days of the month, the trend turned to negative. The copper market closed month 2,080 USD level.
Expectation about September : There may be some repercussion purchases observed during the September 2016.
Cotton is an important industrial commodity for many sectors from different countries all over the world. But, August was a hard month for the cotton market and we could observe a strong decrease on cotton prices. Especially, at the last days of August, the parity experienced the deep value of last months and reached to 65.59 USD level at August 31. We could see the opening value of cotton market was 74.15 USD level at August 1 and it means about %18 value loss.
Expectation about September : The cotton market may give a bit recovery signals and may provide a slower positive trend in the middle of September.
The EUR/USD is the biggest parity of the global forex market. Proportionally, August was a better month for the EUR/USD traders. The parity had opened from 1,1170 level at the beginning of August. (August 1 closing) At August 18, the parity reached to 1,1354 level and closed with 1,1156 level.
Expectation about September : The fluctuated trend will continue, but we can say the 1,11 is support and 1,13 is the resistance level on EUR/USD parity.
USD/JPY parity is one of the biggest parities of the global forex market under today’s world conditions. The parity opened with 102,37 level and reached 99,82 level at the middle of August. But, we could observe there were many recovery signals at the end of the month and the parity reached to 103,31 level.
Expectation about September : The general expert view is that there may be a bit negative trend, and 101 level will be the support level of USD/JPY parity.
Great Britain Sterling is one of the most valuable currencies of the world. So, there is a huge trading volume with the parity of USD. Generally, August was not a better month for this parity, but there are some recovery signals taken at the end of August 2016. We could observe the opening price was 1,3192 at the beginning of month. After begining, we have experienced a strong decrease in the middle of month and a recovery for the last days of the month. The parity closed August 2016 with the 1,3133 level.
Expectation about September : The general expert view is that there may be a bit positive trend. If the parity tries the 1,33 level again, it may be a support level on GBP/USD parity.
USD/CAD parity is a kind of major parity on the global forex market, so there is a larger trading volume between traders. Although experiencing harder days in the middle of August, the parity provided a recovery and reached 1,31 level. We could observe the opening level was similar with 1,31 level, and we can say the general trend was horizontal during the August. Especially, some developments occured in USA Dollar are affecting a bit negatively the parities at the last years. However, the Canada Dollar is holding this parity as a safe harbour for the traders who are making transactions on the global forex market.
Expectation about September : The general expert view is that there may be a horizontal trend. If the parity tries the 1,32 level again, it may be a support level on USD/CAD parity.
- Date: 01 September 2016 Thu 14:19
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