The current down in risk assets has been relatively tamed for now. We expect it to reach lows into late August, when a low point could be found. Provided Gold in USD doesn’t break out significantly above 1’300 USD/oz, Gold in Euros still seems to be in a downtrend signalling that medium term, a risk-on positioned remains the more likely scenario, Jean-Francois Owczarczak, Director, Management Joint Trust and FinGraphs.com. 4,452 views

Equity markets have been lingering on at levels. The consolidation since early May in Europe is due to the strength of EUR/USD (in Dollar terms, European markets have continued to linger-on higher), while in for US Equity markets, the recent performance is entirely due to the Dollar’s weakness (in Euros, the S&P500 have been consolidating lower). In a way, Equity markets have been in a status quo for the last couple of months. May that change in August? Could we see a more ag