Forex - Sterling gives up gains as UK inflation hits highest since 2013 -SapForex24

The pound pulled back from the day’s highs against the dollar on Tuesday after data showing that UK inflation rose to its highest since September 2013 last month, underlining concerns over a squeeze on consumer spending.

GBP/USD initially touched session highs of 1.2957 before pulling back to 1.2889 by 09.05 GMT.
The Office for National Statistics said consumer prices rose by 2.7% in April compared to economists' expectation for a 2.6% annual increase.

Consumer prices rose 0.5% from a month earlier, the ONS said. Economists had expected inflation to match its March increase of 0.4%.

The latest increase in inflation was driven by a jump in airfares during the Easter holidays, which fell later this year. Rising prices for clothing, vehicle excise duty and electricity also contributed to the increase the ONS said.

The rate of inflation in the UK has accelerated in recent months as the weakening of the pound in the wake of last June’s Brexit vote drives up import costs.

Last week Bank of England Governor Mark Carney warned that living standards will tighten this year, with wages expected to fall in inflation-adjusted terms.

Core inflation, which strips out volatile factors like food and energy, rose to 2.4%, the most since March 2013 and above economists' expectations for it to rise to 2.2%.

Sterling was at one-month lows against the broadly stronger euro, with EUR/GBP up 0.6% at 1.2904.
Demand for the euro has been underpinned as investors shifted their attention back to the outlook for monetary policy as concerns over political risks receded after centrist Emmanuel Macron was elected France's president over far-right nationalist Marine Le Pen.

The euro was boosted after data confirming that euro zone gross domestic product grew by 0.5% in the first quarter.

Another report showed that Germany economic sentiment improved slightly in May, but came in weaker than forecast.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.33% at 98.48, pressured lower by the stronger euro.

The dollar was hit following reports that U.S. President Donald Trump shared sensitive intelligence obtained from a close U.S. ally with Russia's foreign minister about an Islamic State operation in a meeting last week.

The report added to concerns that Trump will be unable to successfully push through his economic stimulus program in the face of mounting controversies.

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International Market Update by SapForex24: 25-April-2017

SAPFOREX24 MORNING UPDATE

Gold: 1273.66

Silver: 17.902

Copper: 2.577

Crude Oil: 49.37

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New Ways of Trading in Comex Market - SapForex24

There are various ways of trading in the COMEX markets. In comex various commodities are listed and they can be traded on the current market prices. The trader can trade on the commodities which are divided in to two broad categories. One category is Agricultural commodities and the other is Non Agricultural commodities. 

In agricultural commodities the agricultural products like wheat, pulses etc come.

In non agricultural commodities the precious metals are the major part. The precious metals include comex gold, comex silver, comex copper and others. Some traders have petroleum based commodities as their favorites. These include commodities like natural gas and crude oil.

The important part in the commodity trading is to find how the future comex signals behave. If a trader is able to anticipate and forecast the Comex Trading Signals correctly they can place the appropriate buy and sell calls and gain good profits from the Comex markets. 

The trader can learn technical analysis to forecast the trading signals correctly. Also the trader can follow some strategy which is based on technical and fundamental analysis for trading successfully in the markets. But learning of Technical analysis takes sufficient time. 

So for the traders who are new to the Comex market, they can take the help of international advisory firms like SapForex24. The advisory firm like SapForex24 is the reputed and established international advisory firm.

These days, new techniques like automated trading are used. In automated trading the buy and the sell calls are placed automatically with the help of a computer. An algorithm is written and based on the rules used in the algorithm the buy and the sell calls are placed.

Due to the automation of the entry and exit of the trade, there is minimum involvement of the emotions in trading. Also it prevents the trader from over trading. Thus one can benefit from the latest ways of trading in the Comex Market.

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Goldman says global crude stocks likely to keep falling- SapForex24

Goldman Sachs (NYSE:GS) expects global crude oil inventories to keep falling due to production cuts and strong growth in demand, although stocks are likely to rise in the United States.

"We do not view the recent U.S. builds as derailing our forecast for a gradual draw in inventories, with in fact the rest of the world already showing signs of tightness," analysts at the bank said in a note dated Feb. 21.

"Given our unchanged 1.5 million barrels per day growth forecast for 2017, this higher base demand level should fully offset higher U.S. output."

The Wall Street bank reiterated its forecast for Brent and U.S. Crude prices to rise to $59 and $57.50 per barrel respectively in the second quarter, before dropping to $57 and $55 for the rest of 2017.

Oil prices held near multi-week highs on Wednesday, with the U.S. West Texas Intermediate April crude contract (CLc1) up 18 cents at $54.51 a barrel at 0228 GMT (5:28 a.m. ET), while Brent crude (LCOc1) was up 24 cents at $56.90.

Surging U.S. output has pushed crude and gasoline inventories to record highs, keeping a lid on prices after they climbed following an agreement by the Organization of the Petroleum Exporting Countries (OPEC) and other producers to cut output by about 1.8 million barrels per day (bpd).

"While the production cuts have so far reached a historically high level of compliance at 90 percent, the rebound in U.S. drilling activity has exceeded even our above consensus expectations," Goldman said.

However, the increase in U.S. drilling points to factors including further improvement in shale productivity and funding for the industry, rather than expectations of an increase in prices, the bank said.

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Oil firms as OPEC floats extended output cut markets still bloated- SapForex24

Oil prices edged up on Friday, lifted by a report that producer club OPEC could extend an output cut aimed at reining in a global fuel supply overhang.
Brent crude futures were trading at $55.77 per barrel at 0750 GMT (2:50 a.m. ET), up 12 cents from their last close.

U.S. West Texas Intermediate (WTI) crude futures, were up 7 cents at $53.43 per barrel.
The Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia plan to cut output by almost 1.8 million barrels per day (bpd) during the first half of 2017, and estimates suggest compliance by OPEC is around 90 percent.

The cuts are aimed at curbing oversupply that has dogged markets since 2014.

To help rebalance the market, OPEC sources told Reuters that the supply reduction pact could be extended if all major producers showed "effective cooperation".

For now, inventories remain bloated and supplies high, especially in the United States.
Recent price movements reflect this, with Brent and WTI trading within a $5 per barrel price range this year, in what has become the longest and most range-bound period since a price slump began in mid-2014.

"Despite the headlines, the massive inventory glut in both oil and gasoline continues to thwart any upward momentum," said Stephen Innes, senior trader at OANDA in Singapore.

In the United States, rising output has helped push up Crude and fuel stocks to record highs.
In Asia, oil flows into the region remain as high as they were before the production cuts, data in Thomson Reuters Eikon shows, as exporters shield their big customers in a fight for market share.
This comes amid signs of stuttering demand growth in core markets, China and India.

In India, fuel demand growth fell in January, while in China sagging car sales and soaring gasoline and diesel exports also point to a slowdown in growth.

That leaves Europe, where OPEC has significantly cut supplies. However, Eikon data shows rising North Sea oil exports to Asia, indicating there is no real supply shortage there either.
Despite the ongoing glut, analysts expect oil markets to tighten in the longer term.

"In the fourth quarter of 2018, global oil demand will most likely surpass 100 million barrels per day," AB Bernstein said on Friday in a note to clients.

"If oil prices stay around $60 per barrel and GDP growth over 3 percent per annum, then oil demand growth will be stronger over the next 5 years, than the previous decade. What we are witnessing is a rather surprising renaissance of oil consumption," it added.

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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:

Cap Your Losses: If you wish to take big profits someday, you must first find out how to place your losses small. Cap your losses to within possible limits before they obtain out of hand and drastically erode your Capital.

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.

Use Leverage Appropriate to Your relaxation Level: Using 50:1 leverage means that a 2% unlucky move could wipe out all your Capital or Margin. If you are a comparatively cautious investor or trader, use a lower level of leverage that you are comfortable with, perhaps 5:1 or 10:1.

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