Oil on track for largest annual gain in 7 years ahead of production cut | SapForex24

 U.S. oil prices edged slightly higher in light pre-New Year holiday trade on Friday in an attempt to recover losses caused in the prior session from a surprise build in U.S. crude stockpiles while hopes for 2017's kickoff of the agreement to cut output and a weaker dollar helped support the commodity.
Crude oil for February delivery on the New York Mercantile Exchange gained 22 cents, or around 0.4%, to $53.99 a barrel by 4:14AM ET (8:14GMT), after falling 29 cents, or 0.5%, a day earlier.

Elsewhere, Brent oil for March delivery on the ICE Futures Exchange in London rose 29 cents, or 0.5%, to $57.14 a barrel, after the prior session's loss of 8 cents, or 0.14%.
London-traded Brent futures touched a 17-month high of $57.89 earlier this month, amid optimism over planned output cuts by major global oil producers.

Continued profit-taking in the U.S. dollar on Friday also helped support prices. The Dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.18% at 102.48 by 3:44AM ET (9:44GMT), pulling back from a peak of 103.62 reached on December 20.

A weaker dollar boosts crude as it becomes cheaper for traders purchasing with other currencies.
Oil prices are on track for their biggest annual percentage gain since 2009 on the back of an agreement struck between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries to cut crude production.

OPEC and other producers led by Russia have announced cutbacks of almost 1.8 million barrels per day in oil output starting from January 1, 2017 in an effort to bolster prices and support the market.
Meanwhile, the members of an OPEC and non-OPEC committee formed to monitor the market may meet on January 21-22, according to Kuwaiti oil minister Essam Al-Marzouq, which may give an early indication of compliance with the deal.

Oil prices will gradually rise towards $60 per barrel by the end of 2017, a Reuters’ poll showed on Thursday, with further upside capped by a strong dollar, a likely recovery in U.S. oil output and possible non-compliance by OPEC with agreed cuts.

Investors were also looking ahead to Baker Hughes' rig count data.
The oilfield services provider said last Friday that the number of rigs drilling for oil in the U.S. the previous week increased by 13 to 523, the eighth straight weekly rise and a level not seen in almost a year.

Some analysts have warned that the recent rally in prices could be self-defeating, as it encourages U.S. shale producers to drill more, adding to concerns over a global supply glut.
Elsewhere on Nymex, gasoline futures for February added 0.23% to $1.6793 a gallon, while February heating oil tacked on 0.37%, to $1.7263 a gallon.

Natural gas futures for February delivery slumped 2.0 cents, or 0.53%, to $3.822 per million British thermal units.

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Forex - Dollar little changed ahead of Fed meeting- SapForex24

The dollar fluctuated between small gains and losses the other major currencies on Wednesday as investors stayed on the sidelines ahead of the outcome of the Federal Reserve’s latest policy meeting later in the day.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was at 101.05, little changed for the day.
The Fed is widely expected to hike rates for the first time in a year, with investors pricing in a 100% chance of an increase, according to federal funds futures tracked Fed Rate Monitor Tool.

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Investors will be focusing on the details of the central banks latest economic forecasts, the first since the U.S presidential election, for indications on the expected pace of rate hikes going forward.
Higher rates typically boost the dollar by making dollar assets more attractive to yield-seeking investors.

The euro was steady, with EUR/USD at 1.0625.
The dollar edged lower against the yen, with USD/JPY dipping to 115.12, holding below Monday’s highs of 116.12, the highest level since February 8.

The pound edged higher, with GBP/USD rising to 1.2672 ahead of the latest U.K. employment report later in the day.

The commodity linked currencies were also little changed, with AUD/USD at 0.7496 and NZD/USD at 0.7210. USD/CAD was trading at 1.3120.

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Oil prices surge, trading volume records smashed as OPEC and Russia agree output cut-SapForex24

An agreement between oil producer club OPEC and Russia to produce less to drain a global glut sent prices soaring in record trading volumes on Thursday, even as analysts warned other producers will likely top up supply.

The Organization of the Petroleum Exporting Countries (OPEC)agreed on Wednesday its first oil output reduction since 2008 after de-facto leader Saudi Arabia accepted "a big hit" and dropped a demand that arch-rival Iran also slash output.

The deal also included the group's first coordinated action with non-OPEC member Russia in 15 years. On Thursday Azerbaijan said it was also willing to engage in talks on cuts.

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"OPEC has agreed to an historic production cut," analysts at AB Bernstein said. "The cut of 1.2 million barrels per day (bpd) was at the upper end of expectations (0.7-1.2 million bpd). An additional cut of 0.6 million bpd from non-OPEC countries could significantly add to what has been announced by OPEC."

The price for Brent crude futures (LCOc1), the international benchmark for oil prices, jumped as much as 13 percent from below $50 on Wednesday and was at $52.10 per barrel at 0806 GMT, although traders pointed out that part of the jump was down to contract roll-over from January to February for Brent's front-month futures.

U.S. West Texas Intermediate (WTI) crude futures rose back above $50 briefly before easing to $49.63 a barrel at 0806 GMT, though still up 20 cents from its last settlement.
"OPEC has delivered an agreement," said Jason Gammel of U.S. investment bank Jefferies. "Bulls got as much as could be hoped for...For the time being, oil prices have received a huge support."

The development also triggered frenzied trading, with Brent futures trading volumes for February and March, when the supply cut will start to be visible in the market, hitting record volumes.

The second front-month Brent crude futures contract, currently March 2017, traded a record 783,000 lots of 1,000 barrels each on Wednesday, worth around $39 billion and easily beating a previous record of just over 600,000 reached in September. That's more than eight times actual daily global crude oil consumption.

April Brent traded 288,000 lots of 1,000 barrels each, compared with a previous record of 228,7000 lots done in July 2014.

The records also meant that Brent volumes far exceeded trades in U.S. West Texas Intermediate (WTI) Crude futures, which tend to be higher than those for Brent, but which registered only 368,000 and 214,800 lots for March and April, respectively.
DOUBTS REMAIN

Despite the agreed deal, some doubts over the cut remained. "This is an agreement to cap production levels, not export levels," British bank Barclays (LON:BARC) said. "The outcome is consistent with... what OPEC production levels were expected to be in 2017 irrespective of the deal reached."
Meanwhile U.S. bank Morgan Stanley (NYSE:MS) said that "skepticism remains on individual countries' follow-through (on the cut), which is keeping prices below year-to-date highs (of $53.73 per barrel in October) for now."

Despite the jump in prices, they are still only at September-October levels - when plans for a cut were first announced - and prices are at less than half their mid-2014 levels, when the global glut started.
Goldman Sachs (NYSE:GS) said in a note following the agreement that it expected oil prices to average just $55 per barrel in the first half of next year.

OPEC produces a third of global oil, or around 33.6 million bpd, and the deal aims to reduce output by 1.2 million bpd from January 2017, similar to January 2016 levels, when prices fell to over 10-year lows amid ballooning oversupply.

Analysts said that the cuts would leave the field open for other producers, especially U.S. shale drillers.

"We do not believe that oil prices can sustainably remain above $55 per barrel, with global production responding first and foremost in the U.S.," Goldman Sachs said.
U.S. crude production has risen by over 3 percent this year to 8.7 million bpd, as its drillers have aggressively slashed costs.

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Dollar at fresh 14-year highs vs. rivals after mixed U.S. data

The dollar was hovering at a fresh 14-year peak against the other majors currencies on Wednesday, after the release of mixed U.S. data failed to dampen optimism over the strength of the economy.
The Universtity of Michigan said its consumer sentiment index rose to 93.8 in November from 91.6 the previous month, beating expectations for an unchanged reading.

In addition, the U.S. Commerce Department said durable goods orders climbed 4.8% last month, compared to expectations for a gain of 1.5%.
Core durable goods orders, which exclude volatile transportation items, rose 1% last month, compared to a forecast increase of 0.2%.

On a less positive note, the U.S. Department of Labor said initial jobless claims in the week ending November 19 increased by 18,000 to251,000 from the previous week’s total of 233,000 (initially 235,000). Analysts had expected jobless claims to rise by 15,000 to 250,000 last week.
Another report showed that U.S. new home sales fell by 1.9% to 563,000 units last month, disappointing expectations for a 0.3% increase.

The greenback has remained supported amid expectations that President-elect Donald Trump’s plans to ramp up fiscal spending and cut taxes will spur economic growth and inflation.
Faster growth would spark inflation, which in turn would prompt the Fed to tighten monetary policy a faster rate than had previously been expected.

The U.S. dollar has also been boosted by bets that the U.S. central bank will almost certainly raise interest rates next month.
Fed Chair Janet Yellen on Thursday reiterated that a rate hike “could well become appropriate relatively soon.”

EUR/USD dropped 0.81% to a fresh 11-month low of 1.0537.

Research group Markit earlier reported that its euro zone composite purchasing managers’ index, which measures the combined output of both the manufacturing and service sectors, increased to 54.1 November from the prior month’s reading of 53.3 and above forecasts for no change.
The German manufacturing PMI slipped to 54.9 this month from 55.0, while the services PMI climbed to a six-month high of 55.0 from 54.2.

Markit also said its French manufacturing PMI declined to a two-month low of 51.5 in November from 51.8 the previous month, while the services PMI rose to a two-month high of 52.6 from 51.4.
Elsewhere, GBP/USD slid 0.27% to 1.2390.

USD/JPY rallied 1.43% to an eight-month high of 112.78, while USD/CHF climbed 0.56% to 1.0171.
The Australian and New Zealand dollars were weaker, with AUD/USD down 0.08% at 0.7396 and with NZD/USD dropping 0.79% to 0.7006.

Meanwhile, USD/CAD gained 0.28% to trade at 1.3478.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.81% at a fresh 14-year high of 101.91.

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Oil prices fall on renewed doubts on OPEC-led production cut

Oil prices fell in Asian trade on Wednesday, reversing earlier gains, as doubts re-emerged over whether OPEC would agree to a crude oil production cut at a ministerial meeting next week.
A strong dollar, which traded near the 13 1/2-year peak hit last week, also weighed on prices amid thin trading ahead of the U.S. Thanksgiving holiday on Thursday.

International Brent crude oil futures slipped 8 cents to $49.04 a barrel at 0548 GMT after climbing to $49.42 a barrel earlier in Wednesday's session on optimism OPEC would agree to an output cut.
Reuters commodities analyst Wang Tao said that Brent could rise to $49.85 per barrel, a level marked by several technical resistance factors.

U.S. West Texas Intermediate (WTI) crude oil futures fell 8 cents to $47.95 a barrel after rising to $48.30 earlier on Wednesday.
"The reason prices fell is renewed concern by traders in the ability of producers to reach agreement with Iran and Iraq on production cuts," said Ric Spooner, chief market analyst at CMC Markets in Sydney.

Wednesday's lethargy came after oil prices rallied earlier this week. Traders had anticipated the Organization of the Petroleum Exporting Countries (OPEC) would successfully implement a production cut at its Nov. 30 meeting in order to prop up prices.

With oil output among OPEC members running at around 34 million barrels a day, the market is suddenly looking at substantial cuts to get back to the level of 32 million to 33 million barrels a day when production curbs were first mooted earlier this year, Spooner said.

The OPEC gathering will debate an oil output cut of 4 to 4.5 percent for all of its members except Libya and Nigeria next week but the deal's success hinges on an agreement from Iraq and Iran, which may not give a full backing, three OPEC sources said Tuesday.

"The best case out of the OPEC meeting is an agreement to get production back to the 33 million barrel levels. I think if that happens there is scope to see oil surge up into the mid-$50s a barrel at least temporarily," Spooner said.

Short-term though, analysts said that investors were currently unwilling to push crude prices to $50 a barrel or higher.
"Their reticence is understandable given that longs (long positions) put on above that level have not ended well in recent times," said Jeffrey Halley, a senior market analyst at OANDA brokerage in Singapore.

"Tonight's (U.S.) EIA Crude Inventory numbers should provide a welcome, albeit temporary sideshow to the OPEC main event. Otherwise, we expect Asia to continue the sideways trading ranges," Halley said.

The Energy Information Administration (EIA) is due to publish official U.S. crude oil and refined product inventory data later on Wednesday.
U.S. Crude stockpiles are expected to rise by 700,000 barrels, according to the latest Reuters poll, while distillates will fall and gasoline will rise.

Forex - Dollar hits 9-month highs on Trump bets

The dollar hit nine-month highs against a basket of the other major currencies on Monday, boosted by expectations that a wave of fiscal spending and tax cuts under a Trump administration will spur growth and inflation.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.74% at 99.72, the highest level since January 29.
Last week the index rose 2.02%, the largest weekly gain since November 2015.

Investors expect that Trump's campaign pledges to increase fiscal spending, cut taxes and loosen financial regulation will prompt the Federal Reserve to hike interest rates as economic growth and inflation pick up.

Investors are currently pricing an 81.1% chance of a rate hike at the Fed's December meeting; according to federal funds futures tracked Investing.com's Fed Rate Monitor Tool.
Expectations for higher rates typically boost the dollar by making it more attractive to yield seeking investors.

The 10-Year U.S. Treasury yield rose to its highest since January on Monday as a selloff in Treasuries continued amid a surge in inflation expectations.

The dollar hit fresh five-month highs against the yen on Monday, with USD/JPY climbing 0.9% to 107.63.
In Japan, data overnight showed that the economy grew at a faster than expected pace in the third quarter, with GDP expanding by 2.2% on a year-over-year basis, but the report also indicated that domestic demand remained weak.

The euro fell to its lowest level since January against the dollar, with EUR/USD down 0.88% to 1.0757.
Sterling was also weaker, with GBP/USD falling 0.75% to 1.2496. The pound had hit a five-week high against the dollar on Friday amid hopes that Britain and the U.S. would continue to remain close despite political upheaval in both counties this year.

Currencies linked to the Trans Pacific Partnership trade deal remained under pressure after the White House conceded that it would not pass Congress ahead of Donald Trump's inauguration as president.
Trump made opposing the TPP a key part of his campaign.

AUD/USD was near one-month lows at 0.7540, while NZD/USD fell 0.41% to 0.7048 as markets awaited news on the economic consequences of an earthquake that struck the country on Monday.
Meanwhile, the Mexican peso was holding above record lows against the greenback, with USD/MXN at 21.01.

The peso found some support after Trump said parts of the wall he has pledged to build on the U.S.-Mexico border could be fencing.

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Gold climbs towards fresh 4-week high Fed, U.S. election in focus-SapForex24

Gold prices rose towards a fresh four-week high during Europe's session on Tuesday, as investors waited for the outcome of the Federal Reserve's policy meeting, while monitoring increased uncertainty over the upcoming U.S. presidential election.

Gold for December delivery on the Comex division of the New York Mercantile Exchange tacked on $7.15, or 0.56%, to $1,280.25 a troy ounce by 3:50AM ET (07:50GMT), within sight of last Friday's four-week high of $1,285.40.

The U.S. central bank is expected to keep interest rates unchanged at the conclusion of its two-day policy meeting on Wednesday but set the stage for a hike in December amid signs the economy is picking up steam.

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Traders are currently pricing in a less than 10% chance of a rate hike this week,For December, odds stood at around 78%.
Meanwhile, investors continued to digest news of further investigation into Democrat Hillary Clinton's email issues by the FBI.

Markets were rattled by news last Friday that the FBI is planning to review more emails related to Democratic presidential candidate Hillary Clinton's private server, just over a week before the election.

The revelation could damage the chances of the Democrat candidate, fueling worries about a surprise election outcome.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was little changed at 98.32 early Tuesday, moving away from last week's nine-month peak of 99.09.

Also on the Comex, silver futures for December delivery rose 17.7 cents, or 0.99%, to $17.97 a troy ounce during morning hours in London, while copper futures rallied 1.1 cents, or 0.5%, to $2.216 a pound.

Activity in China's manufacturing sector expanded at a faster pace than expected in October, two separate surveys showed on Tuesday, adding to views the world's second-largest economy is stabilizing.

China's official manufacturing purchasing managers index increased to 51.2 in October from September's 50.4, the National Bureau of Statistics said. The private Caixin survey also hit 51.2, showing the fastest rate of improvement since March 2011.

How to Used Leverage In The Forex Trading- SapForex24

In forex, Traders use leverage to benefit from the fluctuations in exchange rates between two different countries. The leverage that is applicable in the Forex Market is one of the highest that traders can get. Leverage is a loan that is provided to an investor by the broker that is managing his or her forex account. Leverage is manly used not just to get physical assets like real property or automobiles, but also to trade financial benefits such as equities and foreign exchange (“forex”).

Forex trading by retail Traders has grown by leaps and bounds in recent years, thanks to the proliferation of online trading System and the accessibility of cheap credit. The use of leverage in Forex trading is often likened to a double-edged sword, since it gains and losses. This is more so in the case of Forex Trading, where high level of leverage are the norm. 

The examples in the next segment show how leverage magnifies returns for both profitable and unprofitable trades.

How to Used Leverage In The Forex Trading

Tips When Using Leverage

While the probability of produce big return without putting down too much of your own money may be a inviting one, always keep in mind that an extremely high level of leverage could result in you losing your shirt and much more. A few security safeguard used by professional traders may help the inherent risks of leveraged forex trading:

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Use Strategic Stops: Strategic stops are of utmost significance in the around-the-clock Forex market, where you can go to bed and turn out the next day to find that your position has been conflictingly forced by a proceed of a couple hundred pips. Stops can be used not just to secure that losses are capped, but also to protect profits.

Don’t Get In Over Your Head: Do not try to obtain out from a losing position by doubling down or averaging down on it. The greatest trading losses have appear because a scamp trader stuck to his guns and put adding to a losing position until it became so large, it had to be unroll at a catastrophic loss. The trader’s view may ultimately have been right, but it was generally too late to save the situation. It's far better to cut your losses and keep your account alive to trade another day, than to be left expect for an unlikely wonder that will reverse a huge loss.

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Gold prices inched up during Europe's session on Thursday, but remained near a one-week low as market players looked ahead to more U.S. economic data for clues on the likelihood of a December rate hike.

Comments from a barrage of Federal Reserve officials, including the Fed chair, later in the session will also be in focus.

Gold for December delivery on the Comex division of the New York Mercantile Exchange tacked on $1.60, or 0.12%, to $1,325.30 a troy ounce by 4:20AM . On Wednesday, prices fell to $1,321.10, a level not seen since September 21.

A handful of Fed policymakers are also due to make public appearances on Thursday that may offer insight into how divided they are about raising rates.

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Philadelphia Fed President Patrick Harker, Atlanta Fed President Dennis Lockhart, Fed Governor Jerome Powell, Minneapolis Fed President Neel Kashkari and Kansas City Fed President Esther George are all scheduled to speak during the day.

Yellen told Congress on Wednesday that the central bank does not have a "fixed timetable" for modifying its monetary policy. However, she added that continued job creation at its current pace would cause the economy to overheat and, in that case, the Fed could be forced to raise rates faster than expected.

Markets are currently pricing in around a 57% chance of a rate hike at December's meeting, according to Investing.com's Fed Rate Monitor Tool.
Gold is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion.

In the currency market, the U.S. dollar index, which measures the greenback's value against a basket of six major currencies, was up 0.1% at 95.41 early Thursday.

Against the yen, the dollar climbed 0.8% to 101.50, extending its rebound from one-month low of 100.06 touched last week.

Gold pushes higher on bets for steady Fed - SapForex24

Gold prices were higher during Europe's session on Monday, bouncing off a more than two-week low as investors looked ahead to this week's highly anticipated Federal Reserve policy meeting.
Gold for December delivery on the Comex division of the New York Mercantile Exchange tacked on $9.85, or 0.75%, to trade at $1,320.05 a troy ounce by 3:59AM ET (07:59GMT). On Friday, prices slumped to $1,309.20, the lowest since September 1.

The Federal Reserve is not expected to take action on interest rates at the conclusion of its two-day policy meeting at 2:00PM ET (18:00GMT) on Wednesday. The central bank will also release its latest forecasts for economic growth and interest rates.

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Fed Chair Janet Yellen is to hold what will be a closely-watched press conference 30 minutes after the release of the Fed's statement, as investors look for any change in tone about the economy or future rate hikes.

Speculation about the timing of the Fed's next interest rate hike has been in focus this month following contrasting comments from top Fed officials in recent weeks.

Markets are currently pricing in just a 15% chance of a rate hike this week, according to Investing.com's Fed Rate Monitor Tool. For December, odds stood at around 54%.

The precious metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar in which it is priced. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was at 95.85 early Monday, down 0.2%.

Dollar weakness usually benefits gold, as it boosts the metal's appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies.

The market is also waiting for the outcome of a Bank of Japan policy meeting, which also meets on September 20-21, for trading cues.

Elsewhere on the Comex, silver futures for December delivery jumped 33.1 cents, or 1.75%, to trade at $19.18 a troy ounce during morning hours in London, while copper futures eased down 0.8 cents, or 0.37%, to $2.152 a pound.

Dollar holds steady amid new rate hike speculation-SapForex24

The dollar held steady against the other major currencies on Monday, as comments by a Federal Reserve official sparked fresh speculation over a potential rate hike in the near future.
EUR/USD slipped 0.15% to 1.1218.

The dollar gained some strength late Friday after Boston Fed President Eric Rosengren said that low interest rates are increasing the chance of overheating the U.S. economy.

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He added that gradually tightening monetary policy is appropriate to maintaining full employment.
Market participants were looking ahead to a speech from FOMC voting member Lael Brainard due later on Monday for further hints on a potential interest rate increase.

Meanwhile, the single currency remained mildly supported after the European Central Bank held back from adding additional stimulus measures last week and left interest rates on hold.
GBP/USD edged down 0.17% to 1.3245.

USD/JPY dropped 0.68% to 102.02, while USD/CHF held steady at 0.9757.
The Australian and New Zealand dollars were weaker, with AUD/USD down 0.45% at 0.7506 and with NZD/USD shedding 0.29% to 0.7302.

Elsewhere, USD/CAD gained 0.42% to trade at 1.3106, the highest since September 2.
The commodity currencies were hit by tumbling oil prices on Monday due to an increase in oil drilling activity in the US.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 95.39.

Forex - GBP/USD slips lower after downbeat U.K. data

The pound slipped lower agains the U.S. dollar on Tuesday, re-approaching a one-week trough after the release of downbeat U.K. data and as expectations for a U.S. rate hike before the end of the year continued to support the greenback.

GBP/USD hit 1.3060 during European morning trade, the session low the pair subsequently consolidated at 1.3068, shedding 0.28%.

Cable was likely to find support at 1.2871, the low of August 18 and resistance at 1.3280, the high of August 26.

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The Bank of England earlier reported that net lending to individuals increased by £3.8 billion in July, compared to expectations for a £4.9 billion rise. Net lending to individuals increased by £5.1 billion in June, whose figure was revised from a previously estimated gain of £5.2 billion.

Meanwhile, the greenback remained broadly supported after Federal Reserve Chair Janet Yellen said at the Jackson Hole symposium on Friday that the case for U.S. interest rate hikes has “strengthened” in recent months due to improvements in the labor market and to expectations for solid economic growth.

However, she did not indicate when the Fed would act, saying that higher interest rates will depend on incoming economic data.

Speaking shortly afterwards, Fed Vice Chair Stanley Fischer said Yellen’s speech was “consistent” with expectations for possibly two more rate hikes this year, opening the door to a September hike.
Sterling was also lower against the euro, with EUR/GBP adding 0.11% to 0.8547.

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Gold slips lower but remains near 2-week high-Sap Forex24

Gold prices slipped lower on Friday, but still remained close to a two-week high as the minutes of the Federal Reserve’s latest policy meeting continued to weigh on the greenback.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.26% at $1,353.65, not far from the two-week high of $1,355.75 hit overnight.

The December contract ended Thursday’s session 0.62% higher at $1,357.20 an ounce.

Futures were likely to find support at $1,338.60, Wednesday’s low and resistance at $1,360.80, the high from August 5.

Gold slips lower but remains near 2-week high-Sap Forex24

The precious metal lost some ground after data on Thursday showed that initial jobless claims decreased by 4,000 to 262,000 last week, compared to expectations for a 1,000 decline to 265,000.

Separately, the Federal Reserve Bank of Philadelphia said that its manufacturing index rose to 2.0 this month from July’s reading of minus 2.9, in line with the consensus estimate.

But sentiment on the greenback remained vulnerable after the minutes of the Fed’s July policy meeting released on Wednesday showed that policymakers were still divided over the need to raise interest rates this year.

Gold is sensitive to moves in U.S. rates. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.

Elsewhere in metals trading, silver futures for September delivery dropped 0.52% at $19.638 a troy ounce, while copper futures for September delivery rose 0.21% to $2.172 a pound.

Gold slides lower with U.S. data in focus

Gold prices slid lower on Friday, as markets focused on the release of U.S. economic reports due later in the day for further indications on the strength of the economy.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.40% at $1,344.65.

The December contract ended Thursday’s session 0.14% lower at $1,350.00 an ounce.

Futures were likely to find support at $1,328.50, the low from August 9 and resistance at $1,354.20, the high from August 10.

International Market News

On Thursday, data showed that U.S. initial jobless claims decreased by 1,000 to 266,000 last week, disappointing expectations for a 4,000 drop to 265,000 last week.

Gold is sensitive to moves in U.S. rates. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.

Another report showed that the country’s retail sales rose by an annualized rate of 10.2% last month, confounding expectations for a 10.5% increase.

The data added to concerns over a slowdown in the world’s second largest economy. China is also the world’s second biggest consumer of gold.

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Different Stocks, Futures or Options, Currency Trading does not take place on a Stock exchange. It is not managed by any central governing body, there are no opening houses to commitment the trades and there is no adjudication panel to determine controversy. All members trade with each other based on credit contract. Essentially, business in the big, most liquid Forex Market in the world depends on nothing more than a figurative handshake.

At first glance, this ad-hoc appointment must seem complicated to investors who are used to Stock exchanges such as the NYSE or CME. However, this appointment works majorly well in practice; because contributor in FOREX must both participate and cooperate with each other, self guideline provides very effective Trade In the InternationalMarket. 

Further, respectable FOREX Broker in the United States become members of the National Futures Association (NFA), and by doing so they agree to permanent intervention in the event of any dispute. Therefore, it is essential that any Forex Client who observe trading currencies do so only through an NFA member firm.

How does the Forex Market differ from other Markets? 

The FOREX Market is different from other markets in some other ways that are sure to raise monobrow. Think that the EUR/USD is going to decline downward? Feel free to short the pair at will. There is no rise rule in FOREX as there is in stocks. There is also no extremity on the size of your position (as there are in futures); so, in definition, you could sell $100 billion Cost of currency if you had the Money to do it. 

If your Greatest UAE client, who also happens to golf with the governor of the Bank of UAE, tells you on the golf course are planning to raise rates at its next meeting, you could go right onward and buy as much yen as you like. No one will ever charge you for representative trading should your bet pay off. There is no such thing as representative trading in FOREX.

Before we leave you with the impression that FOREX is the facing West of finance, we should note that this is the most liquid market in the world. It Forex and Comex trades 24 hours a day, from 5pm EST Sunday to 4pm EST Friday, and it rarely has any gaps in price. Its sheer size and scope makes the currency market the most accessible market in the world.

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Gold rises to 4-week highs, U.S. data in focus

Gold prices rose to four-week highs on Friday, as the Bank of England’s decision to lower interest rates continued to support and as investors eyed the release of key U.S. employment data due later in the day.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were up 0.23% at $1,370.55.

Futures were likely to find support at $1,347.00, Thursday’s low and resistance at $1,374.90, the high from July 6.

International Market News

Gold prices moved higher after the Bank of England delivered its first rate cut in seven years on Thursday and announced more measures to stimulate the economy in a bid to ward off recession following Britain's vote in June to leave the European Union.

The BoE cut interest rates to a record-low 0.25% in a bid to buffer the economy from a downturn following the Brexit vote.

The central bank also boosted its quantitative easing program by £60 billion and slashed its growth forecast for next year. It now expects growth of just 0.8% in 2017, down from 2.3% in its May forecasts.

Almost all economists had expected the BoE to cut rates and many also expected it to resume its multi-billion-pound program of government bond purchases.

Forex - Aussie holds steady after RBA rate cut, kiwi moves higher

The Australian dollar was steady against its U.S. counterpart on Tuesday, after the Reserve Bank of Australia lowered interest rates to a new record-low, while the New Zealand dollar moved higher as sentiment on the greenback remained broadly under pressure.

AUD/USD was little changed at 0.7542, after hitting lows of 0.7492 earlier in the session.

The RBA lowered its benchmark interest rate from 1.75% to a new record-low of 1.50%, in line with expectations.

Speaking after the decision, RBA Governor Glenn Stevens said “recent data confirmed that inflation remains quite low.”

Market News

NZD/USD gained 0.45% to trade at 0.7204.

Meanwhile, sentiment on the greenback remained vulnerable after the advance read on second quarter U.S. gross domestic product showed on Friday a 1.2% annualized growth rate, well below expectations for 2.6%. First quarter GDP was revised lower to 0.8% from 1.1%.

The disappointing data lessened expectations for an early interest rate rise from the Federal Reserve.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.11% at 95.65, still close to Friday’s five-week lows of 95.33.

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Oil languishes near 3-month lows amid glut concerns

Oil prices extended losses from last week in European trade on Monday, as analyse over a global supply glut increase after data showed that the U.S. oil rig count rose for the fourth week in a row last week.

Crude oil for September delivery on the New York Mercantile Exchange fell to a session low of $43.98 a barrel. It last traded at $44.02 by 08:03GMT, or 4:03AM ET, down 17 cents, or 0.38%.

On Friday, New York-traded oil fell to $43.74, a level not seen since May 10, amid signs of an ongoing recovery in U.S. drilling activity.

CrudeOil News- SapForex24

Oilfield services provider Baker Hughes said late Friday that the number of rigs drilling for oil in the U.S. last week increased by 14 to 371, the fourth straight weekly rise and the seventh increase in eight weeks.

The U.S. benchmark lost $1.93, or 3.83%, last week, after weekly supply data showed a surprising increase in gasoline inventories.

According to the U.S. Energy Information Administration, gasoline inventories rose by 0.9 million barrels, unsatisfactory expectations for a decline of 0.8 million barrels.

Elsewhere, on the ICE Futures Exchange in London, Brent oil for October delivery inched down 14 cents, or 0.3%, to $45.95 a barrel, after falling to a more than two-month low of $45.17 on Friday.

London-traded Brent futures declined $2.23, or 4.03%, last week, as prospects of increased exports from Libya and Iraq added to concerns that a glut of oil products will cut request for crude by refiners.

Yen gains slightly after better than expected provisional PMI

The yen reversed earlier weakness and gained slightly on Friday in Asia as a manufacturing gauge showed some life.

Japan reported the provisional manufacturing PMI for July at 49.0, better than the expected level of 48.3, and higher than 48.1 in June, though still below expansion.

USD/JPY changed hands at 105.83, down 0.03%, while AUD/USD traded at 0.7474, down 0.25%. The euro was down 0.03 to 1.1023.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.02% to 96.96.

Overnight, the dollar pared losses against the other major currencies on Thursday, as strong U.S. housing sector data lent support and as upbeat remarks by European Central Bank President Mario Draghi failed to sustainably ease global growth concerns.

International Market News

Data showed that U.S. existing home sales increased by 1.1% in June to 5.57 million units from the 5.51 million units in May that was revised from the initial read of 5.53 million. The consensus forecast was for a 0.5% decline to 5.48 million units.

The report came after the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending July 16 fell by 1,000 to 253,000 from the previous week’s total of 254,000. Analysts expected jobless claims to increase by 11,000 to 265,000 last week.

Separately, the Federal Reserve Bank of Philadelphia said that its manufacturing index fell to -2.9 this month from June’s reading of 4.7. Analysts had expected the index to improve to 5.0 in July.

At the conclusion of its policy meeting, the ECB left its benchmark interest rate unchanged at a record-low 0.0%, in line with forecasts.

Discovering the ECN Forex Platform

The term electronic communication network (ECN) is what experts use to describe and explain the quality of computer software facilitating the trade of stocks, currencies and accessory financial products.

ECN was explain by the safety and assign upon Call upon (GAO) explain as the large “electronic trading systems that fundamentally match buy and sell orders at define prices.” There are many fluctuation of the electronic communication network foreign jest (FX), or Forex Signals, platforms going on the resell and leading organisation up-to-date dish out an advanced ECN FX bequeathal platform on route to its clients.(Traders)

The perfect advanced terrain brings simultaneously a qualified and time-tested prime broker; a sold bank forasmuch as its liquidity providers; and, good software vespers partners to provide Forex traders in despite of access to an ECN added to deep liquidity taking place more than 20 currency pairs.

Discovering The ECN Forex Platform

ECN Trading Environment

The ECN FX system for trading destroy the dealing desk. the expert serves correspondingly a mediator to rivet Forex traders to the financial institutions. This trading environment is run according to right market prices. These prices often move rapidly, as the interests are based on the accessible of seller’s buyers.

When them comes to FX trading, oneself don’t have to think long involving the reasons why hundreds of thousands of investors and traders enjoy the Forex Trading markets.

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North American oil deals trickle back after Brexit shock

Oil prices (CLc1) have held steady at or above $45 a barrel for a majority of the last two months and touched a 2016 high above $51, ahead of the British referendum.

Tudor said buyers were banking on it eventually settling at around $60 a barrel, giving them confidence about buying drilling acreage in some of the nation's shale heartlands.

U.S. oil and gas producer Diamondback Energy Inc (O:FANG) last week said it would spend $560 million buying leases on oil-rich land in the Southern Delaware Basin, within the Permian Basin, the top U.S. oilfield, where initial production results have been strong and costs are coming down.

International Market News

A day later, U.S. energy company Laredo Petroleum Inc (N:LPI) said it would spend $125 million buying acreage in the Midland Basin, also part of the Permian.

Before the British referendum on June 23, buyers and sellers had grown comfortable with the idea that oil had rebounded from 12-year lows. That conviction helped to unclog the acquisition pipeline after a long-dormant period in which deals were offered but failed to materialize.

About $5.1 billion of U.S. and Canadian properties traded hands in June, the largest dollar amount in more than a year according to PLS Inc, global M&A database for such deals.

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Dollar pushes above 105 yen on Japan prompt hopes

 The dollar Thursday pushed above 105 yen for the first time in three weeks.

The dollar was up 1.07% at 105.62 yen at 04:20 ET after a high of 105.75.

There is prediction of aggressive prompt measures by Japan to reflate the economy.

Former Fed chief Ben Bernanke reportedly has floated the idea of Japan issuing immutable bonds.

International Market Update

Japanese officials have ruled out using helicopter money, or flooding the market with yen.

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Importance Strategy of Forex Signal System | Sapforex24

Live Forex Trading Signal is aggregate of research that exchange traders use to see whether or not to shop for or sell a currency try at any given time. The Forex signals may base on technical analysis tools from a Forex Trading platform or present events.

The usual trading system of a trader involves of a bunch of signals that employment along to make acquire or sell call. Forex Signals are often signed through the net without charge or for a fee from respected traders or brokers. They’d send you daily free signals that you simply may use in your Forex trading day by day.

Forex Trading Signal Strategy

In Forex commerce, it's significantly vital to own a indication system. Many of traders base their trading careers on Forex Signals Company.

 One cannot wrong the worth of getting a Forex signal system once trading currencies as a result of it may create trade easier and additional beneficial. It may additionally minimize the risks and mistakes worried in currency commerce. Check the Forex signals may mean additional success in your Forex trading career.

Importance Strategy of Forex Signal System

To exist within the trading world, trader might base their Forex Signal career by pursue skilled assist from a in trader that might advise them some signals. From these signals, you're provide with tools to create it easier for you to return up with brilliant choices particularly during this risky world of the Forex Market.

Also, it's higher if you may establish a relationship with informed merchandiser in order that you may raise recommendation or assist anytime relating to Forex Trading signals.

Forex Signal Systems may be either manual or machine-driven. During a manual Trading signal system, the bargainer aspect for signals within the net and interprets what they mean. These trading signals may mean whether or not to shop for or sell a currency.

During this quite Forex signal, the choices created by the bargainer square measure all encourage his evaluation and this might take time. However, in an automatic trading signal system Science Articles, the bargainer simply commands the software system to look what signals to appear for and therefore the software system can automatic interpret them.

There square measure many of software system programs on the forex market nowadays that assurance to supply quick and correct Forex trading signals. However the limitation of an automatic signal system harm this software system programs is that it removes the psychological component of the system which will be harmful to many of traders particularly in higher cognitive process.

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Forex Trading experts who have an abnormal state of business sector analysis experience where they can join a few pointers who have an abnormal state of business sector examination experience where they can consolidate a few markers.

Most Forex Signal providers offer their signs just for the prevalent money combines, for example, EUR/USD, USD/JPY, GBP/USD and USD/CHF. These coin sets constitute about 75% of the business sector volume and are exchanged broadly by the lion's share of Forex brokers all around.

The Forex Signal providers just send the section esteem, stop setback cost and take advantage cost. They don't offer any additional specific information about the system they used to deliver their passageway and leave signals. This makes the merchant heedlessly take after their signs without having the ability to make a true blue judgment on their signs quality unless he or she has an abnormal state of technical analysis.

The Forex Signal providers offer their services for people in general trader on a month to month association basis, where they send their signs out to their individuals through SMS or phone. The Trader might be charged a membership expense which ranges amongst $50 and $150 every month taking into account the administration quality and the quantities of coin sets they give exchanging signs to.

The basic error which most dealers make is that they absolutely rely on upon this sign as a sole marker to enter the International  Market. Genuinely the company save the vendor a huge amount of time viewing the business division endeavouring to pick a trading opportunity.

Forex Signal Company

Be that as it may, the right strategy ought to any one do is to utilize these signals as an additional sticks which qualify his or her trading choice, at the end of the day, the dealer ought to make his own particular examination at the cost activity and end with an individual forecast to the Stock Market development taking into account his experience, then utilize these signs to support or deny this choice.

As a trader, you ought not to hand-off totally on signal provider service. When you produce your own signs, you merge a few trading pointers like pattern lines, moving normal, stochastic and so on, with a specific end goal to get a high plausible  Trading Signal.

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