Press review - page 42
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"The multinational probes of foreign exchange trading represents the latest investigation of crucial financial benchmarks that affect personal and business transactions worldwide".
"More light has been shed on a global probe into the possible manipulation of the $5.3 trillion-a-day currency market, as three major European banks confirmed they are being examined by regulators".
Profiting From Multiple Time Frame Sector Analysis
"As October draws to a close, there is continued debate as to what sectors offer the best potential for the rest of the year and for 2014. It is important to look at each of the sectors from a monthly, weekly, and daily perspective in order to get a clear outlook whether you are a trader or investor. The monthly charts, as I have discussed in a previous Trading Lesson, can be very helpful in determining the major trends. They are also very useful in identifying key levels of support as breakouts of the monthly ranges are often quite significant. So which sector looks best now?"
Bitcoin Singapore Conference: Charlie Shrem to be the Principal Speaker
Charles ‘Charlie’ Shrem IV, the 23 year old American businessman and entrepreneur who co-founded the Bitcoin startup company BitInstant and currently working as Vice Chairman of the Bitcoin Foundation, will be the lead speaker in the Bitcoin Singapore Conference which is going to be held on November 15th at Fullerton Hotel.
For the first time since June this year, WTI (West Texas Intermediate) crude fell below $95 a barrel sending alarm to oil companies. This is happening amidst the news that U.S. stockpiles have increased to a great extent. On the other hand the dollar has gained versus the euro as the latter has fallen remarkably.
Earlier, a recent report by the U.S. Energy Information Administration showed that monthly average prices for crude oil continued to increase in August where the average domestic crude oil first purchase price rose $1.52 (1.5 percent), to $103.13 per barrel. Similarly, there was an increase in the average free-on-board cost of imported crude oil as it got a growth of $1.04 which is 1.0 percent increase.Thus, it reached $102.50 per barrel. There was also an increase in the average landed cost of foreign crude oil which it increased to $1.83 i.e. 1.8 percent and reached $102.86 per barrel.
2013-11-04 00:30 GMT (or 01:30 MQ MT5 time) | [AUD - Retail Sales]
if actual > forecast = good for currency (for AUD in our case)
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Australian Dollar Advances After Retail Sales Rise Unexpectedly
The Australian dollar firmed against other major currencies in early Asian deals on Monday as data showed that the country's retail sales rose more-than-expected in September.
Data from the Australian Bureau of Statistics showed that Australia retail sales rose a seasonally adjusted 0.8 percent to A$22.15 billion in September, from 0.5 percent increase last month. Expectations call for an increase of 0.4 percent.
2013-11-04 09:30 GMT (or 10:30 MQ MT5 time) | [GBP - Construction PMI]
if actual > forecast = good for currency (for GBP in our case)
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U.K. Construction Output Logs Fastest Growth Since 2007
The U.K. construction output grew at the steepest pace since September 2007, survey results from Markit Economics showed Monday.
The Markit/Chartered Institute of Purchasing & Supply construction Purchasing Managers' Index came in at 59.4 in October, up from 58.9 in September and above the 50.0 no-change threshold for the sixth consecutive month.
"The future is looking bright for the UK construction industry as it soars into the final quarter with its strongest performance in over six years, boosted by a strengthening surge in activity broadening out across all sectors," David Noble, Chief Executive Officer at CIPS said.
P.M. Kitco Roundup: Gold Ends Slightly Up On Short Covering, Weaker U.S. Dollar Index
Gold prices ended a lackluster U.S. day session with slight gains Monday, supported by short covering and a weaker U.S. dollar index. Traders are awaiting fresh fundamental inputs to drive the gold and silver markets this week. December Comex gold was last up $1.40 at $1,314.60 an ounce. Spot gold was last quoted down $1.00 at $1315.25. December Comex silver last traded down $0.162 at $21.67 an ounce.
2013-11-05 03:30 GMT (or 04:30 MQ MT5 time) | [AUD - RBA Interest Rate]
if actual > forecast = good for currency (for AUD in our case)
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RBA Keeps Cash Rate Unchanged At 2.5%
The Reserve Bank of Australia on Tuesday decided to keep its benchmark cash rate unchanged at a record low of 2.5 percent, in line with economists' forecast.
The central bank said that the Australian dollar is still "uncomfortably high", and a lower level of the exchange rate is needed to achieve balanced growth in the economy.
The Reserve Bank Board, at the same time, judged that the current setting of the monetary policy remained "appropriate".
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Bank of Japan Governor Haruhiko Kuroda had a press conference about monetary policies. Mr Kuroda exercises general control over the Bank's business.
Kuroda: BoJ monetary stimulus having positive effect on economy
During a meeting with credit cooperative officials on Friday, Bank of Japan head Haruhiko Kuroda assured that the central bank's injections of monetary stimulus had been having favorable effects on the Japanese economy. He projected further gradual recovery and quicker annual Core CPI growth.
"The BOJ will continue with quantitative and qualitative easing, aiming to achieve the price stability target of 2 percent, as long as it is necessary for maintaining this in a stable manner," Kuroda said.
At its last meeting the BoJ decided to keep the monetary expansion at an annual rate of JPY 60-70B, while upgrading its view on capital expenditure.