prince123: gold just they dance ajasco

no mind am jare. na dis news i take place am:

Gold sailed today, and is trading at this writing at 1616.35 after trying to reach the 1620 level.

Markets have been most positive sentiment, with the US holiday upon us, and gold is reaping the benefits of market expectations for further monetary easing around the globe to stimulate economic growth. The European Central Bank is expected to lower rates on Thursday, and China is expected to relax the minimum reserve requirement ratio for banks again. It seems that investors these day, rely more on central bank rates and monetary policy then they do on good old fundamentals of supply and demand, the more that the central banks pump out the more that speculators can reap.

Rumors are swirling about a global central bank action to jumpstart the global economy, this is possible but improbable.

On Thursday the ECB and the BoE have statements and rate decisions. This week the RBA held rates. Markets are expecting supportive action from the Bank of Japan in their upcoming meeting. And the Fed’s are being pushed into action as the economy has stalled and most all of the eco data is negative. This week issues the Nonfarm payroll report and unemployment figures, [s]if these numbers are under forecast, we will see markets moving to anticipate Fed action.
[/s]
FxEmpire

EnterPRO:

no mind am jare. na dis news i take place am:

lets see how it turns out at the end of the day....

prince123: gold just they dance ajasco

I envy u guys.
I have never ever traded on commodities because I dont get to have access to info as quick as they come. One thing I know is: When USD is down, GOLD is up. Because it serves as an alternative for investors.
I may start trading it especially when currencies are really messing up like we have it now.


Frawzey.

ayox2003:
I envy u guys.
I have never ever traded on commodities because I dont get to have access to info as quick as they come. One thing I know is: When USD is down, GOLD is up. Because it serves as an alternative for investors.
I may start trading it especially when currencies are really messing up like we have it now.


Frawzey.

hmmmn, its heading towards the support level (1611 - 1614), in case you still want to get in.

EnterPRO:

hmmmn, its heading towards the support level (1611 - 1614), in case you still want to get in.

Now? And is this gonna be my first win with commodities? Lol.

Let me check it out, anyway.


Frawzey.

gold movt is kinda sluggish moving betwwen 1613-1616 for hours now currently moving at 1614 range for over 2hrs now

[b]John Paulson, founder of Paulson & Co. hedge fund told Business Week this week "Anyone in Greece, Italy, and France should pull all their money out of the banking system and purchase gold bars before the Continent collapses." [/b]hmmmmmmmmmmmmmmmmm is it that serious.....

prince123: [b]John Paulson, founder of Paulson & Co. hedge fund told Business Week this week "Anyone in Greece, Italy, and France should pull all their money out of the banking system and purchase gold bars before the Continent collapses." [/b]hmmmmmmmmmmmmmmmmm is it that serious.....

Prince, when did u get the news? What kinda advice is that? Before the continent collapses...

ayox2003:

Prince, when did u get the news? What kinda advice is that? Before the continent collapses...

from bloomberg,i think what he was just tryin to point out is the seriousness of the crisis the eurozone especially their banking sector is facing especially greece, italy and france.and bro about the gold i dont think is adviceable for any1 to still place the trade currently, because the market is currenlty sluggish or will i say stagnant, it has been on 1614.88 for the past 38minutes you can imagine. cant tell what direction to take.

prince123: [b]John Paulson, founder of Paulson & Co. hedge fund told Business Week this week "Anyone in Greece, Italy, and France should pull all their money out of the banking system and purchase gold bars before the Continent collapses." [/b]hmmmmmmmmmmmmmmmmm is it that serious.....

Na wa oo...source abeg?

ayox2003:
I envy u guys.
I have never ever traded on commodities because I dont get to have access to info as quick as they come. One thing I know is: When USD is down, GOLD is up. Because it serves as an alternative for investors.
I may start trading it especially when currencies are really messing up like we have it now.


Frawzey.

make we build what-if scenarios against thur/fri news:

nzdusd
The NZD/USD has been the benefactors of a weak USD, adding 0.0015 in today’s session to trade at 0.8052. With US markets closed for the holiday there will be little action elsewhere. This morning saw a release from China on more negative implications on the Chinese economy which is a negative for the kiwi.

As markets though move from risk aversion, the kiwi and other commodity currencies as well as commodities continue to gain.


audusd
This pair is sensitive the headline risk, and as such it should be monitored as there are three major economic event between now and the end of the day Friday. The meeting buying the ECB, as well as the meeting by the Bank of England and the nonfarm payroll numbers will give the markets plenty to think about over the next three sessions. The real question becomes do the markets get what they want, and if so how will they react to it?

It is pretty much assume that the ECB will be cutting rates by 25 basis points. It is also assumed that the Bank of England will begin to purchase another hundred million Pounds worth of gilts in order to facilitate easing in that country. Either one of these two announcements going the wrong way: have a negative impact on the Australian dollar. And then of course, there’s that pesky nonfarm payroll number on Friday which to play absolute havoc with it.


usdjpy
This pair tends to be very sensitive to the nonfarm payroll number, and considering that it comes out this Friday it is very possible that this pair will do very little between now and then. However, if we get a good jobs report, it’s very possible that this pair will finally break above the 80.60 level and produce a long-term buy-and-hold type of position. As for selling, we simply will not do it because of the Bank of Japan and the fact that it is working so hard against the value of the Yen below this area.

Traders were positioning themselves before the holiday to be prepared for the ECB and BoE rate announcements on Thursday and the US Nonfarm payroll report due on Friday. Negative eco data continues to plague the Japanese economy, where a boost to the Tankan report earlier helped support the JPY, an under forecast report on average earnings continued to weakened the yen. The pair have remained in the upper 79 level all week. JPY is weaker, down 0.4% from yesterday’s close as market participants reverse safe haven flows in favor of risk assets. The shift is being driven by expectations of wide-spread easing from central banks, given yesterday’s PMI data that underlined the global nature of the recent deceleration in growth


eurjpy
The EUR/JPY is trading up at 100.33 as European markets close for the day. US markets will close early today and be closed on Wednesday for the US holiday.

JPY is weaker, down 0.4% from yesterday’s close as market participants reverse safe haven flows in favor of risk assets. The shift is being driven by expectations of wide-spread easing from central banks, given yesterday’s PMI data that underlined the global nature of the recent deceleration in growth. Whereas the euro continues to climb as the expectations that the ECB will reduce rates at its meeting on Friday.


eurusd
July 4 is a trading holiday in the U.S.on Wednesday so trading is expected to be light; however, volatile moves may take place because of the thin trading conditions. On Thursday, the European Central Bank is expected to announce an interest rate cut. Look for the ECB to cut its benchmark rate from 1% to .75%. This rate is not quite as low as the U.S.and the U.K., but at least in the same direction. The move by the ECB is designed to provide some relief to the Euro Zone banking community.

Traders have to watch for weakness on Thursday since a change in the interest rate differential often puts pressure on the currency associated with the rate cut. This could mean a challenge of the lows for the week.

On Friday, the U.S. Non-Farm Payrolls report will be released. Jobs growth is expected to remain low. Any weakness in the U.S.economy may actually trigger a rally in the Greenback.

So despite last week’s bullish news regarding the European Sovereign Debt and Banking System Crisis, the Euro is not out of the woods and could end the week on a weak note.

Trading will remain thin for the balance of the week, even though there are major events on Thursday and Friday. There was very little in the way of eco data today and tomorrow’s calendar is thin also.

EUR is flat from yesterday’s close and down 0.6% since Friday as markets react to weak data and headlines regarding Finland and the Netherlands’ opposition to ESM sovereign bond purchases, in addition to Finland’s request for collateral in exchange for aid, in a scenario reminiscent to that which was seen during last year’s second Greek bailout. Spain, Greece and Italy have been quiet and remained off the front pages since Friday’s announcement, in the hopes that this plan will be approved. EUR is trading around 1.2600, and last week’s rally failed to reach even the high from mid-June that followed the Greek election. Recent data have been weak, with another increase to the EU unemployment rate, now at 11.1% and with PMI’s remaining near 3 year lows. This week’s key event for EUR remains the ECB meeting on Thursday, where expectations are for a 25bp cut in the policy rate to 0.75%. While a rate cut had been discussed at the last meeting, a majority of the governing council had voted to maintain rates. It has since been rumored that a majority now favors easing rates.

On Friday the US Nonfarm payroll data is set to be released, markets are hoping for a positive report to help jump start the US economy, but on the flip side, investors believe if the report is negative that the Fed’s will be pushed into action.

gbpusd
Sterling is close to flat, despite the release of an under 50 construction PMI report as markets look to Thursday’s BoE meeting. Expectations are for a £50bn increase to the BoE’s asset purchase program, to £375bn. BoE Governor King, along with MPC members Miles and Posen, had voted for a £50bn increase at the previous meeting; however a majority of the MPC voted to maintain the size of the asset purchase program given uncertainty surrounding the Greek election outcome from mid-June. Weak domestic data over the past month (including yesterday’s sub-50 PMI) have generated additional dovish comments from members of the previous majority, increasing the likelihood of easing this week.


usdcad
The USD/CAD is trading at 1.0148 in the early part of the NA session. Markets will be thin with little eco data and the US holiday tomorrow. The loonie is up 0.2% from yesterday’s close as a result of strengthened oil prices. Given that there are no domestic data releases until Friday’s employment report, CAD movement is likely to take the lead from broader market sentiment. Traditional drivers such as equities and oil are also likely to have an impact despite the recent decline in correlations, and ongoing headline risk from Europe will keep investors focused on sovereign ratings and debt metrics – a positive for CAD. Near term rate expectations remain below the BoC’s 1.0% overnight rate, however an improvement has been seen since May 31.

The CAD should be very quiet until US markets are back in full swing.

Silver
Silver is trading at 28.010 adding 0.51 today, benefiting from its precious metal status as well as part of the medals pack, which both moved up. Markets will close early today and US markets are closed on Wednesday for the 4th of July Independence Day celebrations. There will be very light volume for the rest of the week.

Anticipation regarding ECB reducing interest rate would be keeping the market sentiment buoyed. Even, shrinking in global manufacturing especially the US ISM number sinking below 50 indicated severe weaknesses for the economy. Once again that optimism for Fed easing has heightened. Silver therefore may be demanded as haven along with gold. Reports today may also indicate the Euro area PPI is cooling and thereby proving space to ECB to cut its mainframe interest rate which would be supportive for metals.

Crude
Crude Oil is trading at 86.34 as geopolitical tensions mount between Iran and the west, though more about rhetoric then action. Iranian lawmakers are trying to legislate action in the Gulf of Hormuz to stop any ship carrying oil through the passageway. This threat is not new and the last time when the military became involved not the politicians, NATO pushed them out of the way and forced them to back down. There is no possible way that Iran will be able to block the Gulf so it is politicians making idle threats and noise.

Otherwise on the eco front there is little data to support a move upwards in the crude oil, except the hope that a rate cut by the ECB will stimulate growth, and the always present dreams of Fed intervention in the US. Market rumors are beginning to surface saying that the Fed’s or possibility a global action by the central banks will relax monetary and rates to stimulate growth. No one is sure and everyone dreams.

You have to keep in mind that the Friday session features the nonfarm payroll report United States, and this will certainly have an effect on the oil markets. Interestingly enough though, a weak nonfarm payroll number could eventually push this market much higher. The reason being is that it is well known now that the Federal Reserve is paying attention to the employment number more than anything else in order to make its decisions on easing. If it goes the route of quantitative easing again, this will hurt the dollar and will certainly boost commodity prices worldwide. This will be no different in the oil markets.

With all this being said, we do favor the upside in oil for the short term. However, this week will feature several headline risks over the next couple of days. In the ECB meeting we have the possibility of a disappointment, the Bank of England also has a meeting that could move markets, and then of course the jobs number in the United States. With all this being said it will be a choppy market more than likely, but it does look like we are starting to see a bit put it back into this market

gold
Gold sailed today, and is trading at this writing at 1616.35 after trying to reach the 1620 level.

Markets have been most positive sentiment, with the US holiday upon us, and gold is reaping the benefits of market expectations for further monetary easing around the globe to stimulate economic growth. The European Central Bank is expected to lower rates on Thursday, and China is expected to relax the minimum reserve requirement ratio for banks again. It seems that investors these day, rely more on central bank rates and monetary policy then they do on good old fundamentals of supply and demand, the more that the central banks pump out the more that speculators can reap.

Rumors are swirling about a global central bank action to jumpstart the global economy, this is possible but improbable.

On Thursday the ECB and the BoE have statements and rate decisions. This week the RBA held rates. Markets are expecting supportive action from the Bank of Japan in their upcoming meeting. And the Fed’s are being pushed into action as the economy has stalled and most all of the eco data is negative. This week issues the Nonfarm payroll report and unemployment figures, if these numbers are under forecast, we will see markets moving to anticipate Fed action.

SOURCE: www.FxEmpire.com

mkmyers45:

Na wa oo...source abeg?

its an advice from a guru in the field,,read up the story here http://www.bloomberg.com/news/2012-06-28/paulson-forgoes-prognostication-as-greatest-trade-sequel-flops.html e long sha,,but if you fit read all you go get the point especially about gold...

Barclays stock is in trouble cos the former CEO was indicted for fixing rates and he claimed he had help from BOE and the uk govt.

Source: CNN

please i want to understand something, if you go a 0 day bet is it that it ends at the close of the day or it ends at the close of trading.

Oga bommaster i hail ooo....You go mark attendance for night vigil today?

[b]In case of seeing a deterioration in the nonfarm payrolls report, gold will probably rise as speculations that Fed would launch QE3 will increase[/b]culled from forexpros..please take note of this..

Na wa o, this one wey everybody dey go fundamental now

toluxa1: Na wa o, this one wey everybody dey go fundamental now

its very important bro cos tomorrow and next you cant do without the fundamentals

As market no gree move make I go continue my Jumong and do my 89MB Norton update as I use one hand dey chop my white rice and pidgin meat

toluxa1: As market no gree move make I go continue my Jumong and do my 89MB Norton update as I use one hand dey chop my white rice and pidgin meat

which one be pidgin meat ni

EnterPro,

Nice one. Still had to skip the Commodities.

While the currencies are also a good option, I strongly believe the Indices would be a very good place to trade.

Lets keep our fingers crossed.

Frawzey.

Good day house, Hope everyone is having a good trade, am trying to sort out some kind of problem with BOM, i requested 4 cash since last week, which as already deducted from my Bom account But yet to land in my VISA card, i called Them today again, they ask me for 48hours. I am not trading Bom, untill my money Land. I wonder how this pple is doing this, this days.
Pls watch out for d upcoming news as from 2morrow. Enjoy.

toluxa1: As market no gree move make I go continue my Jumong and do my 89MB Norton update as I use one hand dey chop my white rice and pidgin meat

Hehehe which network you dey use?

bommaster: Good day house, Hope everyone is having a good trade, am trying to sort out some kind of problem with BOM, i requested 4 cash since last week, which as already deducted from my Bom account But yet to land in my VISA card, i called Them today again, they ask me for 48hours. I am not trading Bom, untill my money Land. I wonder how this pple is doing this, this days.
Pls watch out for d upcoming news as from 2morrow. Enjoy.

You no go trade bom? Nawa o.

prince123: please i want to understand something, if you go a 0 day bet is it that it ends at the close of the day or it ends at the close of trading.

it ends at the close of trading, but your winnings reflect at the end of day.

EnterPRO:

it ends at the close of trading, but your winnings reflect at the end of day.

for gold is same as end of day 23.59.59gmt

ayox2003: EnterPro,

Nice one. Still had to skip the Commodities.

While the currencies are also a good option, I strongly believe the Indices would be a very good place to trade.

Lets keep our fingers crossed.

Frawzey.

but how to trade the indices is the problem!

market open, close or mid market?

that problem doesnt exist with forex, and is minimised in commodities.

bommaster: Good day house, Hope everyone is having a good trade, am trying to sort out some kind of problem with BOM, i requested 4 cash since last week, which as already deducted from my Bom account But yet to land in my VISA card, i called Them today again, they ask me for 48hours. I am not trading Bom, untill my money Land. I wonder how this pple is doing this, this days.
Pls watch out for d upcoming news as from 2morrow. Enjoy.

sorry bro i pray they resolve it quick,,all my withdrawals has been thru uba visa card and it reflects in 3days time,sometimes uba dont send me alert, i just log in to their site and see the cash after the 3rd day...so far no issue....oya una don hear am no vigil again till they resolve bommaster issue.

prince123: for gold is same as end of day 23.59.59gmt

yup! for commodities and forex.

its the indices/stock exchanges that have different opening/closing times based on their location.

prince123: which one be pidgin meat ni

Pidgin nooni. We have alot in our house so once in a while we fit just kill like 10 or sbo chop.

mkmyers45: Hehehe which network you dey use?

Airtel. Am not watching online o

prince123: please i want to understand something, if you go a 0 day bet is it that it ends at the close of the day or it ends at the close of trading.

It ends the close of the trade but would be credited by the close of the day.
Just wait till its 11.59pm today. Or go to sleep and by tomorrow, your account would have been credited.


Frawzey.