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Tuesday, November 17, 2009

sdCUhf Markets seem


EurUsd The bearish double top formation scenario seems to be loosing momentum, and the pair is again heading towards 1.50 levels. A break above 26thOct High at 1.5062, for further bullishness targeting 1.52 –1.53 area. Support for pullbacks is located around the 1.4810/50 area.

GbpUsd After the 300 pips fall from 1.6842 the pound was able to find support at the uptrend line which rejected further fall in the pair. This indicates that further bullishness could be seen in the near term testing 1.6842 resistance (,9thNov High), and a break above could lead the pair to a test for 1.70 area.

UsdJpy The USDJPY pair tested the upper part of the declining triangle, were strong resistance there rejected further appreciation. We expect further pair consolidating within the triangle back to 90.05. Failure to hold above 89.30 will be looking for support at 88.85

sdCUhf Markets seem to be demanding a test of parity. USDCHF pair had made the inverse formation to that of EUR/USD pair “Double Bottom”. Again the Swiss Franc strengthened upon reaching resistance level at 1.0190 diminishing the double bottom bearish reversal scenario, 1.0034 would be a critical key support, where a break below could send the pair below 1.00 psychological support.
EurUsd The bearish double top formation scenario seems to be loosing momentum, and the pair is again heading towards 1.50 levels. A break above 26thOct High at 1.5062, for further bullishness targeting 1.52 –1.53 area. Support for pullbacks is located around the 1.4810/50 area.

GbpUsd After the 300 pips fall from 1.6842 the pound was able to find support at the uptrend line which rejected further fall in the pair. This indicates that further bullishness could be seen in the near term testing 1.6842 resistance (,9thNov High), and a break above could lead the pair to a test for 1.70 area.

UsdJpy The USDJPY pair tested the upper part of the declining triangle, were strong resistance there rejected further appreciation. We expect further pair consolidating within the triangle back to 90.05. Failure to hold above 89.30 will be looking for support at 88.85

UsdChf Markets seem to be demanding a test of parity. USDCHF pair had made the inverse formation to that of EUR/USD pair “Double Bottom”. Again the Swiss Franc strengthened upon reaching resistance level at 1.0190 diminishing the double bottom bearish reversal scenario, 1.0034 would be a critical key support, where a break below could send the pair below 1.00 psychological support.

Friday, November 13, 2009

Search forex strategy in the internet is not as easy as search free e-cards What do you think the key for forex trading? It is not the perfect strategy, but PERFECT DISCIPLINE. Discipline is a controlled behavior. So in forex trading you must have a controlled behavior which follows your strategy. Discipline will separates [...]Search forex strategy in the internet is not as easy as search free e-cards What do you think the key for forex trading? It is not the perfect strategy, but PERFECT DISCIPLINE. Discipline is a controlled behavior. So in forex trading you must have a controlled behavior which follows your strategSearch forex strategy in the internet is not as easy as search free e-cards What do you think the key for forex trading? It is not the perfect strategy, but PERFECT DISCIPLINE. Discipline is a controlled behavior. So in forex trading you must have a controlled behavior which follows your strategy. Discipline will separates [...]y. Discipline will separates [...]Search forex strategy in the internet is not as easy as search free e-cards What do you think the key for forex trading? It is not the perfect strategy, but PERFECT DISCIPLINE. Discipline is a controlled behavior. So in forex trading you must have a controlled behavior which follows your strategy. Discipline will separates [...]Search forex strategy in the internet is not as easy as search free e-cards What do you think the key for forex trading? It is not the perfect strategy, but PERFECT DISCIPLINE. Discipline is a controlled behavior. So in forex trading you must have a controlled behavior which follows your strategy. Discipline will separates [...]Search forex strategy in the internet is not as easy as search free e-cards What do you think the key for forex trading? It is not the perfect strategy, but PERFECT DISCIPLINE. Discipline is a controlled behavior. So in forex trading you must have a controlled behavior which follows your strategy. Discipline will separates [...]Search forex strategy in the internet is not as easy as search free e-cards What do you think the key for forex trading? It is not the perfect strategy, but PERFECT DISCIPLINE. Discipline is a controlled behavior. So in forex trading you must have a controlled behavior which follows your strategy. Discipline will separates [...]Search forex strategy in the internet is not as easy as search free e-cards What do you think the key for forex trading? It is not the perfect strategy, but PERFECT DISCIPLINE. Discipline is a controlled behavior. So in forex trading you must have a controlled behavior which follows your strategy. Discipline will separates [...]Search forex strategy in the internet is not as easy as search free e-cards What do you think the key for forex trading? It is not the perfect strategy, but PERFECT DISCIPLINE. Discipline is a controlled behavior. So in forex trading you must have a controlled behavior which follows your strategy. Discipline will separates [...]
Traders on the Foreign Exchange market, Forex market for short, can potentially make thousands of dollars based on the volatility and fluctuations of a country’s currency. To better themselves and have a leading advantage over other traders, some Forex traders and investors participate in a practice known as news trading. The risks are very high, but the potential gains can be worth thousands of dollars and many traders and investors use this technique.
The technique of news trading is quite simple. It is the trading of foreign currency immediately before or after an important economic news announcement. After such announcements, there is a high possibility that market prices will fluctuate, either for the better or worse, depending on the announcement. For example, if the U. S. Federal Reserve announces another increase of the interest rate, many traders might invest in the U.S. dollar as it is expected that its value will appreciate. The main advantage of news trading is the potential for a country’s currency to make huge gains or losses in very little time. Within minutes of an economic announcement, a country’s currency can gain or lose one hundred points almost instantly. The potential of huge profits attracts Foreign Exchange traders and investors, however there are various risks associated with news trading.
Like any investment, there is always a risk, and news trading on the Forex market is no different. Though the potential profits are huge, the losses are also equally as large. The dangers of news trading come from the fact that a trade must be made quickly or else you are going to lose. If you are caught on the bad side of a trade, your money will be gone quicker than you can blink your eye. You will lose money so fast that there won’t even be time for you to manually close your trades, leaving you with nothing. Stop-loss orders are also potentially dangerous as there is a high probability of slippage because of the sudden price fluctuation.
Though some investors and traders might get lucky trading news, there is only a small probability that you will make a profit. Even if you are an expert news trader, you should still be very, very cautious when participating in this practice. Successful news trading depends solely on how you get your news. The most successful news traders are the ones with the
fastest news feeds and those that are able to quickly place their trades immediately after an announcement has been made. Even using other forms of news trading, such as placing orders above or below the market price is still a guessing game, and those traders in the market who base their trades on guesses, won’t have much money after a short time.
For many Forex traders and investors, their trades are dictated by technical indicators and price indexes. Hours are spent researching every indicator, taking every risk into account and then making a decision based on everything they have studied. However, for a Forex news trader, none of this matter, and the only thing they take into account is economical news announcements.
News trading is possible because the Forex market is always open, unlike many financial markets. In a financial market, securities trades of certain stocks are suspended when an important company announcement is being made. These announcements are usually made after the market has closed for the day. However, because the Foreign Exchange market is open 24 hours, any economic announcement will have direct affects on the currency of that country, and maybe others as well. In the Forex market, there are eight major currencies that are traded, as well as over seventeen derivatives to be traded as well. This means that on any given day, there will always be economic announcements from any of the major traded currencies. The major trader currencies are as follows:
U.S. Dollar (USD)
Because of the availability of each currency, currency pairs, and its derivatives, such as USD/JPY, EUR/USD, AUD/USD, as well as several others, each currency can be traded at any given time because these currencies are globally traded.
Any Forex news trader or news investor will have to have the latest most up to the moment news announcements. Even if the news announcements are only a couple of minutes old, this can have devastating effects for any trader who has risked any sum of money. Most news traders like to keep an eagle eye on any news regarding economical activity, but most importantly news dealing with
interest rates changes, FOMC rate decisions, retail sales figures, inflation indicators such as the consumer price index (CPI), producer price index (PPI), unemployment figures, industrial production announcements, boost in business and consumer confidence, as well as business sentiment surveys. Manufacturing sector surveys, trade balance release details, and foreign purchases of U.S. Treasuries may also prove useful for a news trader to better make decisions regarding when or when not to trade.
However, it should be remembered that these news announcements can have ranging impacts on a country’s currency, and after an announcement, the volatility of a currency may greatly fluctuate. It is important to take advantage of news that creates movements in volatility that will last for a few minutes or even hours. Trading on the Forex market based solely on news is a difficult and sometimes dangerous practice. However, there are some indicators that can make a news trader’s job easier, such as breakout indicators (Bollinger bands, breakout of a candlestick bar, or a price bar). Research has proved that news announcements can impact a currency’s value quite severely, in some cases it can gain or lose anywhere from 33 pips to 124 pips, opening up the ideal trading opportunity looked for by news traders. If a news trader is able to act quickly enough, even the smallest news release can be turned into a potential profit of thousands of dollars. However, it is important to remember the volatility of such announcements, and although the profits seem endless, the losses can happen too.



Tags
AUD/JPY AUD/NZD AUD/USD Aussie Australia Bank of Canada Bank of England Brazil Canada Central bank Chile China Commodities Crude Oil Dollar ECB EUR/GBP EUR/JPY EUR/USD Euro Eurozone Federal Reserve Forecast GBP/JPY GBP/USD GDP Great Britain India Interest Rates Japan New Zealand NZD/JPY NZD/USD Peso Pound Real Rupee South Africa U.K. U.S. USD/BRL USD/CAD USD/JPY Yen Yuan

Thursday, November 12, 2009

Because of the availability of each currency, currency pairs, and its derivatives, such as USD/JPY, EUR/USD, AUD/USD, as well as several others, each currency can be traded at any given time because these currencies are globally traded.
Any Forex news trader or news investor will have to have the latest most up to the moment news announcements. Even if the news announcements are only a couple of minutes old, this can have devastating effects for any trader who has risked any sum of money. Most news traders like to keep an eagle eye on any news regarding economical activity, but most importantly news dealing with
interest rates changes, FOMC rate decisions, retail sales figures, inflation indicators such as the consumer price index (CPI), producer price index (PPI), unemployment figures, industrial production announcements, boost in business and consumer confidence, as well as business sentiment surveys. Manufacturing sector surveys, trade balance release details, and foreign purchases of U.S. Treasuries may also prove useful for a news trader to better make decisions regarding when or when not to trade.
However, it should be remembered that these news announcements can have ranging impacts on a country’s currency, and after an announcement, the volatility of a currency may greatly fluctuate. It is important to take advantage of news that creates movements in volatility that will last for a few minutes or even hours. Trading on the Forex market based solely on news is a difficult and sometimes dangerous practice. However, there are some indicators that can make a news trader’s job easier, such as breakout indicators (Bollinger bands, breakout of a candlestick bar, or a price bar). Research has proved that news announcements can impact a currency’s value quite severely, in some cases it can gain or lose anywhere from 33 pips to 124 pips, opening up the ideal trading opportunity looked for by news traders. If a news trader is able to act quickly enough, even the smallest news release can be turned into a potential profit of thousands of dollars. However, it is important to remember the volatility of such announcements, and although the profits seem endless, the losses can happen too
.

Foreign Exchange market

Traders on the cccc, Forex market for short, can potentially make thousands of dollars based on the volatility and fluctuations of a country’s currency. To better themselves and have a leading advantage over other traders, some Forex traders and investors participate in a practice known as news trading. The risks are very high, but the potential gains can be worth thousands of dollars and many traders and investors use this technique.
The technique of news trading is quite simple. It is the trading of foreign currency immediately before or after an important economic news announcement. After such announcements, there is a high possibility that market prices will fluctuate, either for the better or worse, depending on the announcement. For example, if the U. S. Federal Reserve announces another increase of the interest rate, many traders might invest in the U.S. dollar as it is expected that its value will appreciate. The main advantage of news trading is the potential for a country’s currency to make huge gains or losses in very little time. Within minutes of an economic announcement, a country’s currency can gain or lose one hundred points almost instantly. The potential of huge profits attracts Foreign Exchange traders and investors, however there are various risks associated with news trading.
Like any investment, there is always a risk, and news trading on the Forex market is no different. Though the potential profits are huge, the losses are also equally as large. The dangers of news trading come from the fact that a trade must be made quickly or else you are going to lose. If you are caught on the bad side of a trade, your money will be gone quicker than you can blink your eye. You will lose money so fast that there won’t even be time for you to manually close your trades, leaving you with nothing. Stop-loss orders are also potentially dangerous as there is a high probability of slippage because of the sudden price fluctuation.
Though some investors and traders might get lucky trading news, there is only a small probability that you will make a profit. Even if you are an expert news trader, you should still be very, very cautious when participating in this practice. Successful news trading depends solely on how you get your news. The most successful news traders are the ones with the
fastest news feeds and those that are able to quickly place their trades immediately after an announcement has been made. Even using other forms of news trading, such as placing orders above or below the market price is still a guessing game, and those traders in the market who base their trades on guesses, won’t have much money after a short time.
For many Forex traders and investors, their trades are dictated by technical indicators and price indexes. Hours are spent researching every indicator, taking every risk into account and then making a decision based on everything they have studied. However, for a Forex news trader, none of this matter, and the only thing they take into account is economical news announcements.
News trading is possible because the Forex market is always open, unlike many financial markets. In a financial market, securities trades of certain stocks are suspended when an important company announcement is being made. These announcements are usually made after the market has closed for the day. However, because the Foreign Exchange market is open 24 hours, any economic announcement will have direct affects on the currency of that country, and maybe others as well. In the Forex market, there are eight major currencies that are traded, as well as over seventeen derivatives to be traded as well. This means that on any given day, there will always be economic announcements from any of the major traded currencies. The major trader currencies are as followsTraders on the Foreign Exchange market, Forex market for short, can potentially make thousands of dollars based on the volatility and fluctuations of a country’s currency. To better themselves and have a leading advantage over other traders, some Forex traders and investors participate in a practice known as news trading. The risks are very high, but the potential gains can be worth thousands of dollars and many traders and investors use this technique.
The technique of news trading is quite simple. It is the trading of foreign currency immediately before or after an important economic news announcement. After such announcements, there is a high possibility that market prices will fluctuate, either for the better or worse, depending on the announcement. For example, if the U. S. Federal Reserve announces another increase of the interest rate, many traders might invest in the U.S. dollar as it is expected that its value will appreciate. The main advantage of news trading is the potential for a country’s currency to make huge gains or losses in very little time. Within minutes of an economic announcement, a country’s currency can gain or lose one hundred points almost instantly. The potential of huge profits attracts Foreign Exchange traders and investors, however there are various risks associated with news trading.
Like any investment, there is always a risk, and news trading on the Forex market is no different. Though the potential profits are huge, the losses are also equally as large. The dangers of news trading come from the fact that a trade must be made quickly or else you are going to lose. If you are caught on the bad side of a trade, your money will be gone quicker than you can blink your eye. You will lose money so fast that there won’t even be time for you to manually close your trades, leaving you with nothing. Stop-loss orders are also potentially dangerous as there is a high probability of slippage because of the sudden price fluctuation.
Though some investors and traders might get lucky trading news, there is only a small probability that you will make a profit. Even if you are an expert news trader, you should still be very, very cautious when participating in this practice. Successful news trading depends solely on how you get your news. The most successful news traders are the ones with the
fastest news feeds and those that are able to quickly place their trades immediately after an announcement has been made. Even using other forms of news trading, such as placing orders above or below the market price is still a guessing game, and those traders in the market who base their trades on guesses, won’t have much money after a short time.
For many Forex traders and investors, their trades are dictated by technical indicators and price indexes. Hours are spent researching every indicator, taking every risk into account and then making a decision based on everything they have studied. However, for a Forex news trader, none of this matter, and the only thing they take into account is economical news announcements.
News trading is possible because the Forex market is always open, unlike many financial markets. In a financial market, securities trades of certain stocks are suspended when an important company announcement is being made. These announcements are usually made after the market has closed for the day. However, because the Foreign Exchange market is open 24 hours, any economic announcement will have direct affects on the currency of that country, and maybe others as well. In the Forex market, there are eight major currencies that are traded, as well as over seventeen derivatives to be traded as well. This means that on any given day, there will always be economic announcements from any of the major traded currencies. The major trader currencies are as follows
Traders on the Foreign Exchange market, Forex market for short, can potentially make thousands of dollars based on the volatility and fluctuations of a country’s currency. To better themselves and have a leading advantage over other traders, some Forex traders and investors participate in a practice known as news trading. The risks are very high, but the potential gains can be worth thousands of dollars and many traders and investors use this technique.
The technique of news trading is quite simple. It is the trading of foreign currency immediately before or after an important economic news announcement. After such announcements, there is a high possibility that market prices will fluctuate, either for the better or worse, depending on the announcement. For example, if the U. S. Federal Reserve announces another increase of the interest rate, many traders might invest in the U.S. dollar as it is expected that its value will appreciate. The main advantage of news trading is the potential for a country’s currency to make huge gains or losses in very little time. Within minutes of an economic announcement, a country’s currency can gain or lose one hundred points almost instantly. The potential of huge profits attracts Foreign Exchange traders and investors, however there are various risks associated with news trading.
Like any investment, there is always a risk, and news trading on the Forex market is no different. Though the potential profits are huge, the losses are also equally as large. The dangers of news trading come from the fact that a trade must be made quickly or else you are going to lose. If you are caught on the bad side of a trade, your money will be gone quicker than you can blink your eye. You will lose money so fast that there won’t even be time for you to manually close your trades, leaving you with nothing. Stop-loss orders are also potentially dangerous as there is a high probability of slippage because of the sudden price fluctuation.
Though some investors and traders might get lucky trading news, there is only a small probability that you will make a profit. Even if you are an expert news trader, you should still be very, very cautious when participating in this practice. Successful news trading depends solely on how you get your news. The most successful news traders are the ones with the
fastest news feeds and those that are able to quickly place their trades immediately after an announcement has been made. Even using other forms of news trading, such as placing orders above or below the market price is still a guessing game, and those traders in the market who base their trades on guesses, won’t have much money after a short time.
For many Forex traders and investors, their trades are dictated by technical indicators and price indexes. Hours are spent researching every indicator, taking every risk into account and then making a decision based on everything they have studied. However, for a Forex news trader, none of this matter, and the only thing they take into account is economical news announcements.
News trading is possible because the Forex market is always open, unlike many financial markets. In a financial market, securities trades of certain stocks are suspended when an important company announcement is being made. These announcements are usually made after the market has closed for the day. However, because the Foreign Exchange market is open 24 hours, any economic announcement will have direct affects on the currency of that country, and maybe others as well. In the Forex market, there are eight major currencies that are traded, as well as over seventeen derivatives to be traded as well. This means that on any given day, there will always be economic announcements from any of the major traded currencies. The major trader currencies are as followsTraders on the Foreign Exchange market, Forex market for short, can potentially make thousands of dollars based on the volatility and fluctuations of a country’s currency. To better themselves and have a leading advantage over other traders, some Forex traders and investors participate in a practice known as news trading. The risks are very high, but the potential gains can be worth thousands of dollars and many traders and investors use this technique.
The technique of news trading is quite simple. It is the trading of foreign currency immediately before or after an important economic news announcement. After such announcements, there is a high possibility that market prices will fluctuate, either for the better or worse, depending on the announcement. For example, if the U. S. Federal Reserve announces another increase of the interest rate, many traders might invest in the U.S. dollar as it is expected that its value will appreciate. The main advantage of news trading is the potential for a country’s currency to make huge gains or losses in very little time. Within minutes of an economic announcement, a country’s currency can gain or lose one hundred points almost instantly. The potential of huge profits attracts Foreign Exchange traders and investors, however there are various risks associated with news trading.
Like any investment, there is always a risk, and news trading on the Forex market is no different. Though the potential profits are huge, the losses are also equally as large. The dangers of news trading come from the fact that a trade must be made quickly or else you are going to lose. If you are caught on the bad side of a trade, your money will be gone quicker than you can blink your eye. You will lose money so fast that there won’t even be time for you to manually close your trades, leaving you with nothing. Stop-loss orders are also potentially dangerous as there is a high probability of slippage because of the sudden price fluctuation.
Though some investors and traders might get lucky trading news, there is only a small probability that you will make a profit. Even if you are an expert news trader, you should still be very, very cautious when participating in this practice. Successful news trading depends solely on how you get your news. The most successful news traders are the ones with the
fastest news feeds and those that are able to quickly place their trades immediately after an announcement has been made. Even using other forms of news trading, such as placing orders above or below the market price is still a guessing game, and those traders in the market who base their trades on guesses, won’t have much money after a short time.
For many Forex traders and investors, their trades are dictated by technical indicators and price indexes. Hours are spent researching every indicator, taking every risk into account and then making a decision based on everything they have studied. However, for a Forex news trader, none of this matter, and the only thing they take into account is economical news announcements.
News trading is possible because the Forex market is always open, unlike many financial markets. In a financial market, securities trades of certain stocks are suspended when an important company announcement is being made. These announcements are usually made after the market has closed for the day. However, because the Foreign Exchange market is open 24 hours, any economic announcement will have direct affects on the currency of that country, and maybe others as well. In the Forex market, there are eight major currencies that are traded, as well as over seventeen derivatives to be traded as well. This means that on any given day, there will always be economic announcements from any of the major traded currencies. The major trader currencies are as follows
Traders on the Foreign Exchange market, Forex market for short, can potentially make thousands of dollars based on the volatility and fluctuations of a country’s currency. To better themselves and have a leading advantage over other traders, some Forex traders and investors participate in a practice known as news trading. The risks are very high, but the potential gains can be worth thousands of dollars and many traders and investors use this technique.
The technique of news trading is quite simple. It is the trading of foreign currency immediately before or after an important economic news announcement. After such announcements, there is a high possibility that market prices will fluctuate, either for the better or worse, depending on the announcement. For example, if the U. S. Federal Reserve announces another increase of the interest rate, many traders might invest in the U.S. dollar as it is expected that its value will appreciate. The main advantage of news trading is the potential for a country’s currency to make huge gains or losses in very little time. Within minutes of an economic announcement, a country’s currency can gain or lose one hundred points almost instantly. The potential of huge profits attracts Foreign Exchange traders and investors, however there are various risks associated with news trading.
Like any investment, there is always a risk, and news trading on the Forex market is no different. Though the potential profits are huge, the losses are also equally as large. The dangers of news trading come from the fact that a trade must be made quickly or else you are going to lose. If you are caught on the bad side of a trade, your money will be gone quicker than you can blink your eye. You will lose money so fast that there won’t even be time for you to manually close your trades, leaving you with nothing. Stop-loss orders are also potentially dangerous as there is a high probability of slippage because of the sudden price fluctuation.
Though some investors and traders might get lucky trading news, there is only a small probability that you will make a profit. Even if you are an expert news trader, you should still be very, very cautious when participating in this practice. Successful news trading depends solely on how you get your news. The most successful news traders are the ones with the
fastest news feeds and those that are able to quickly place their trades immediately after an announcement has been made. Even using other forms of news trading, such as placing orders above or below the market price is still a guessing game, and those traders in the market who base their trades on guesses, won’t have much money after a short time.
For many Forex traders and investors, their trades are dictated by technical indicators and price indexes. Hours are spent researching every indicator, taking every risk into account and then making a decision based on everything they have studied. However, for a Forex news trader, none of this matter, and the only thing they take into account is economical news announcements.
News trading is possible because the Forex market is always open, unlike many financial markets. In a financial market, securities trades of certain stocks are suspended when an important company announcement is being made. These announcements are usually made after the market has closed for the day. However, because the Foreign Exchange market is open 24 hours, any economic announcement will have direct affects on the currency of that country, and maybe others as well. In the Forex market, there are eight major currencies that are traded, as well as over seventeen derivatives to be traded as well. This means that on any given day, there will always be economic announcements from any of the major traded currencies. The major trader currencies are as follows

Hold the Line", brought to you by Trendline

Enjoy The Daily Most Interesting Chart With The Daily Technical Analysis &
Research On Major Currency Pairs Including Strategy, Chart levels, Direction
Of Trade Prepared By Mizuho Corporate Bank's Senior Analyst Nicole Elliott.
After being traded at the lowest level in 15 months yesterday, the greenback rebounded mainly versus higher-yielding options, as traders indicated that the U.S. currency devaluation could be too high and not compatible with domestic and global economic fundamentals, giving a breather to the greenback.
Posted in Market Movers of the Day Europe UK Jobless claims change at 12.9K better than expected UK Claimant count rate in line with expectations at 5.1% UK ILO Unemployment at 7.8% Vs 8% expected UK Average earnings (excluding bonus) at 1.8% The Overall Sentiment A day loaded with UK data ended with the Sterling sharply lower trading under 1.66$ and above 0.90£ against Wednesday, Nov 11 A week loaded with UK economic indicators will reach its climax with the Bank of England inflation report and the Speech of the BoE governor that will follow. Both events will give the BoE most updated outlook on growth and Inflation. During recent weeks and months markets have been acting rather cautious Nov 4 Gold bulls seem ever more determined to push the metal higher amid statement from Fed Chairman Ben Bernanke that rates are expected to remain at exceptionally low levels even when the economy will recover. The statement folded back many speculations on rate hikes and pushed the shiny metal just 3$ shay of the 1100$ [...]
Gold bulls seem ever more determined to push the metal higher amid statement from Fed Chairman Ben Bernanke that rates are expected to remain at exceptionally low levels even when the economy will recover. The statement folded back many speculations on rate hikes and pushed the shiny metal just 3$ shay of the 1100$ mental mark topping at 1097$ an ounce. The fed’s rhetoric actually has not changed much from the previous meeting ,the fed pointed low inflation and unemployment as the key players in the fed’s rate decision rather than growth which has surprised for the upside. As it seems the statement only confirmed investors’ assumptions on future rates rather than being the pure driver of the latest surge in Gold prices. In fact the fed’s statement is only a minor event as far as Gold players are concerned , the large scale of Gold purchase by India earlier this week is the true headline. India in a surprising move purchased 200 Tonnes of Gold from the IMF the largest single Gold purchase in 30 years. The purchase which sums up to half of the total IMF Gold holdings put for sell posses above all a true diversification of reserves out of the Dollar and into Gold in an enormous scale. Although the fact Gold futures are so close to the 1100$ mental barrier could hamper some of the call bets on Gold futures , the fact the settlement price for the deal was around 1045$ an ounce could set a benchmark for future settlements (especially with China) and the 1045$ could easily become a support level in future downtrends. However the 1026$ is considers to be the most critical in the current bullish cycle and should be closely watched