Daily Market Review 17 of May
Yesterday the United States stocks decline as the European Central Bank (ECB) will discontinue provide loans to several Greek banks surpass stronger than estimated facts on U.S. housing and manufacturing. 3 Trillion dollars of worldwide stock market value have been rubbed out this month as worries over Greece will way out the euro restrained demand for riskier assets and monetary data. Whereas Greece will program new elections following today after political leaders, divides over austerity procedures attached to a European Union lead rescue is unsuccessful to figure a coalition government since last votes. In US some members of the Federal Open Market Committee announced through Minutes released yesterday that several fresh actions might be essential if the financial system loses momentum and shortcoming risks to the forecast grow to be great enough, however Spain will look for to put up for sale 1.5 billion Euros ($1.9 billion) to 2.5 billion Euros of bonds maturing in 2015 and 2016, Spanish 10 year bond yields had grow as high as 6.5 percent till yesterday and also approaching the 7 percent spot that pressed Greece, Ireland and Portugal in the direction of European Bailout packages.


GOLD turn down to as low as $1526 in brief  the bear market area which is clear by a 20% fall as of the price high prior to varied information saw irregular price action and gold close up at $1540 for the US session. The bearish view recommends aggressive investors to lengthy equity market future indices to be cautious against sharp bounce back in gold. The Support levels are at 1524, 1503, 1428 and the resistance levels are at 1625, 1617,1603.


USD/JPY is currently trading at 80.32; the pair is estimated neutral, still since the price battle has ended over the 80.05. Though the rate being earlier mentioned has downward drift line is probable stays the major test for the session. The Support levels are at 80.32, 80.15,  79.81 and the Resistance levels are at 80.64, 81.03, 81.47.