Forex Course

Well I'm kicking myself for not staying with the GBP/JPY breakout trade. (…)
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The CCI indicator, or the Commodity Channel Index indicator to give it it's full name, is one of the more popular technical indicators amongst forex traders. (…)
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Forex Jargon You Need to Know Forex may be a completely new experience for you. You maybe experiencing fear and anticipation in the same moment even though it seems impossible because of this new thing you’ve discovered. Putting your money at risk into any investment is a big decision.As you know money can buy you many things which can provide you enjoyment. So when you put that gratification on
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After being very ill last week, I'm pleased to say I'm now back to normal again, and thankfully I've returned to the markets and made some decent profits this week. (…)
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LONDON (Reuters) – Gold hit a fresh record high near $1,150 an ounce on Wednesday, boosting precious metals across the board, as a dip in the dollar index added to momentum buying as prices broke through key technical resistance levels.

In non-U.S. dollar terms, gold also climbed, hitting multi-month highs when priced in the euro, sterling and the Australian dollar.

Spot gold hit a high of $1,147.45 and was at $1,146.05 an ounce at 0948 GMT, against $1,141.50 late in New York on Tuesday.

U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange also hit a record $1,148.10 and were later up $7.10 at $1,146.40 an ounce.

“Yesterday the market took a breather and tested below $1,130 very quickly, (but) a few physical related bargain hunters were lined up to grab the dip,” said Afshin Nabavi, head of trading at MKS Finance in Geneva.

The market is being underpinned by fresh interest in gold from the official sector, he said, after a recent major bullion acquisition from India and smaller buys by the central banks of Mauritius and Sri Lanka.

The acquisitions underlined gold’s appeal as a portfolio diversifier, especially in an environment where further dollar weakness was expected, analysts said.

The dollar eased back on Wednesday from its biggest rise in three weeks in the previous session, as traders awaited U.S. inflation data due at 1330 GMT.

The dollar index, which measures the U.S. currency’s performance against a basket of six others, was down 0.37 percent, while the euro/dollar exchange rate firmed.

Other commodities also climbed, with oil rising back toward $80 a barrel and copper to 13-1/3 month highs near $7,000 a tonne. Both are being lifted by the weak dollar.

INFLATION EYED

Gold traders are awaiting key U.S. consumer price index numbers later in the day for clues as to the next direction of trade, both due to its effect on the currency markets and on bullion itself, which is often seen as an inflation hedge.

“Low inflation pressures are traditionally a negative for gold prices,” said HSBC analyst James Steel in a note.

“If, however, weak inflation data are seen as allowing the Fed to continue to pursue easy monetary policies, this may be seen as supportive of gold.”

Gold rose in currencies other than the U.S. currencies, reaching its highest since late February in euro terms, since early March in sterling terms, and since early May when priced in the Australian dollar.

The physical market was quiet, however, with India’s gold demand abating as prices struck fresh record highs after offtake picked up slightly in the previous two sessions, while scrap flow eased on hopes for higher prices.

Gold’s strength also lifted other precious metals, with silver hitting a 16-month high at $18.66 an ounce and platinum reaching a peak of $1,462, its highest since September 2008.

Later silver was bid at $18.63 an ounce against $18.40, while platinum was at $1,455.50 an ounce against $1,453 and palladium was at $374 against $370.

“Given the bullish tone in the rest of the complex and increasing investment demand, both metals are likely to test higher in the coming sessions with resistance above pegged at $1,490 and $400,” said TheBullionDesk.com analyst James Moore.

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You may recall that a few days ago I wrote a blog post discussing why you should look out for an upcoming breakout on the GBP/JPY pair. Well today it finally did just that. (…)
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Forex Mastery, the new forex course that I first mentioned last week, has now been released to the public. (…)
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Tips to Look For When Searching For Forex System Trading There are a lot of forex system trading program that can be downloaded in the Internet today. You only have to enter the keywords forex system trading in any of the search engines and in a second, a number of sites will be posed on your screen. They are so many that you cannot decide which one to pick. However, not all of this forex system
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HONG KONG (AP) — Asian stock markets advanced Monday as better-than-expected news about U.S. retailers buoyed confidence in the world’s largest economy and gold prices hit a new record. European shares were modestly higher.

Major markets across Asia rose between 1 percent and 2 percent as the foundering dollar led investors to pour more money into commodities and shares of resource companies. Gold broke above $1,130 for the first time and oil traded higher around $77.

Encouraging quarterly reports Friday from large U.S. retail chains, as well as The Walt Disney Co., helped ease investor worries about American consumer spending, long a major source of growth for Asia’s export-oriented economies.

“The data is improving, the news is on the upswing, and first and foremost this helps boost confidence,” said Lorraine Tan, director of equities research at Standard & Poor’s in Singapore.

Also on investors’ minds was President Barack Obama’s first visit to China, where issues of trade, the economic recovery and the two countries’ currencies were likely to figure in meetings with Beijing’s leaders.

As trading opened in Europe, benchmarks in Britain, Germany and France gained nearly 1 percent each. Meanwhile, Wall Street futures augured a stronger open in the U.S. Monday, with Dow futures up 0.6 percent and S&P futures adding around 0.7 percent.

In Japan, the Nikkei 225 stock average closed up 20.87 points, or 0.2 percent, to 9,791.18. But investors largely brushed off news that Japan’s economy expanded at an annual pace of 4.8 percent in the third quarter, marking a second straight quarter of expansion and the strongest surge in gross domestic product since 2007.

In greater China, Hong Kong’s Hang Seng rose 390.35, 1.7 percent, to 22,943.98, and Shanghai’s benchmark surged 87.40 points, or 2.7 percent, to 3,275.05.

Markets in South Korea, Taiwan, India, Singapore and Australia rose between 1 percent and 2 percent.

Tan and other analysts point to the weakening dollar and record low interest rates as key reason for the continuing advance in global equities, as well as commodities. With bonds and savings accounts yielding so little these days, investors big and small have been looking for bets with higher payoffs.

“What that means is people are going to favor investments like equities,” Tan said. “There just aren’t that many alternatives if you want returns.”

Friday on Wall Street, the Dow rose 73.00, or 0.7 percent, to 10,270.47.

The broader Standard & Poor’s 500 index rose 6.24, or 0.6 percent, to 1,093.48. The Nasdaq composite index rose 18.86, or 0.9 percent, to 2,167.88.

Oil prices rose in Asia amid a weaker U.S. dollar and an improving global crude demand outlook next year. Benchmark crude for December delivery was up $1 to $77.35 a barrel; the contract settled down 59 cents at $76.35 on Friday.

The flailing greenback also lifted gold, seen as a hedge against a lower U.S. currency. Gold prices gained $12.7 at $1,129.4 after touching a new high of $1,130.6.

In currencies, the dollar was flat at 89.52 yen. The euro gained to $1.4974 from $1.4923.

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Is This Rally Out of Sync with the Economy?

Stimulus flowing as planned, but still a long way to go

Six Small Steps Toward a More Normal Economy

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I haven't opened any positions this week because I've been suffering from sickness and diarrhoea for most of the week. (…)
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