The Green Paper Bowed The Yellow Metal

The Gold fells down today from 1218.45 this morning to 1204.78 after the strong us data, Although it managed to close higher yesterday supported by safe-haven demand amid unrest in Hong Kong, but it fell sharply during Tuesday’s European session as the greenback gained traction and scored a fresh 10-month low of $1,206.64 in recent dealings.

Also, reported that :

U.S. consumer spending rose 0.5 percent in August, offering the latest suggestion that years of exceptionally low interest rates have finally pushed the economy into a higher gear.

“It’s hard to see any major upside from here. From a macro point of view, the attention is pretty much focused on the strength of the U.S. economy and the dollar,” said Mitsubishi Corp strategist Jonathan Butler.

Spot gold was down 0.2 percent to $1,217.20 an ounce by 2:14 p.m. EDT (1814 GMT). U.S. COMEX gold futures for December outperformed spot, settling up $3.40 at $1,218.80 an ounce.

The dollar index turned flat after hitting a four-year peak hit earlier in the day as the market looked ahead to a series of important economic data, culminating in the release on Friday of U.S. September non-farm payrolls.

The bigger impact on gold prices could still come from U.S. data as market players seek to gauge the strength of the economy and its impact on Federal Reserve policy.

Strong economic data could prompt the U.S. central bank to raise interest rates faster and sooner than expected, which could boost the dollar and hurt non-interest-bearing bullion.

Unrest in Hong Kong also could hit retail sales in the region, a hot spot for tourists from mainland China, especially during the one-week National Day holiday that begins on Wednesday, bullion dealers said.

China is the world’s biggest buyer of gold, and a drop in consumer demand there could undermine any rally in gold prices.

As a gauge of wider investor sentiment, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 1.20 tonnes to their lowest since December 2008 at 772.25 tonnes on Friday.

U.K. United = Pound Strong

After the big shock that was created by the Scotland independent referendum in the market regarding the future of the pound, But it kept strong while the kingdom stayed united.

Also, the pound was performing good in the market specially against the Euro and It headed for a sixth monthly advance against the euro as speculation Britain’s interest rates will rise relative to those of its neighbors boosted the allure of U.K. assets.

That was what said in there report, also Added :

Not since 2000 has sterling had such a run of gains versus its 18-nation counterpart. Bank of England Governor Mark Carney said last week that the point where interest rates “begin to normalize is getting closer.” Mario Draghi, his counterpart at the European Central Bank, said the same day the ECB is prepared to use more unconventional policy if needed. U.K. government bonds rose today, paring their first monthly loss in three.

“The Bank of England is slowly but steadily preparing the ground for a rate hike while the ECB looks increasingly likely to start quantitative easing in early 2015,” saidNick Stamenkovic, a fixed-income strategist at broker RIA Capital Markets Ltd. in Edinburgh. “All being equal, the policy divergence should mean sterling outperformance against the euro, and the opposite for gilts and bunds.”

The U.K. currency slipped less than 0.2 percent to 78.21 pence per euro at 12:27 p.m. London time, poised for a 1.2 percent gain this month. The pound reached 77.85 pence on Sept. 25, the strongest since July 2012. Sterling traded at $1.6234.

Only the dollar has enjoyed greater gains in the past month than the 1.6 percent advance for the pound, according to Bloomberg Correlation-Weighted Indexes, which track 10 developed-nation currencies.

“With many of the conditions for the economy to normalize now met, the point at which interest rates also begin to normalize is getting closer,” Carney said on Sept. 25. “While there is always uncertainty about the future, you can expect interest rates to begin to increase.”

Read more here>

EUR/USD Dropped To 1.2676 Today And Draghi Said The Euro Is Weak.

We saw that the pair of eurusd was going in a downtrend in the hourly chart for today, and this was expected from the most investors because of the news about strengthen the US Dollar and The euro has dropped toward a two-year low against the dollar since the European Central Bank president boosted stimulus earlier this month. Economics textbooks say that should lift Europe’s struggling growth rate by boosting exports and speed inflation by raising import prices. Such effects will be more welcome if falling commodities deal a disinflationary blow.

That was part of the report of today with a headline that Draghi May Discover Weaker Euro Doesn’t Buy Enough Recovery.

Also they said that :

It’s time for those textbooks to be revised, according to economists at Societe Generale SA led by Michala Marcussen, who reckon a devaluation of the euro will not be as stimulatory as it once was and perhaps as much as the ECB is hoping.

For one thing, the single currency may not be that weak yet. While it has fallen 7.5 percent against the dollar this year, it has slipped just 4 percent on a trade-weighted basis.

A deep decline may be hard to achieve. While the euro should keep falling against the dollar and sterling as the Federal Reserve andBank of England shift toward higher interest rates, those currencies account for only about a third of the trade-weighted index.

And technically :

Talking Points:

The Euro raced downward to tag a 14-month low against the US Dollar, losing its foothold above the 1.28 figure. Near-term support is in the 1.2754-60 area marked by the July 2013 low and the 38.2% Fibonacci expansion. A break below that on a daily closing basis exposes the 38.2% level at 1.2673. Alternatively, reversal above the 14.6% Fib at 1.2813 clears the way for a challenge of the September 23 high at 1.2900.

We entered short EURUSD at 1.3644 in line with our long-term fundamental outlook and have since booked profit on half of the position. The rest remains open to capture any further downside momentum with a stop-loss at 1.3583, our initial objective.

Do Not Out Your IPhone6 In Your Pocket Or You Going To Join The ‘BendGate’

Yesterday i was talking about the problems that the new ISO 8 for Apple and how the media surprised how it comes like that, and today we woke up with a big army called the ‘BendGate’ are standing for other serious problem in the new IPhone6.

The problem, dubbed ‘#bendgate’ on Twitter, has been identified by some users who left their new Apple smartphones in their pockets for extended periods of time.

The flaw is believed to be due to the gadget’s aluminium alloy frame as well as it being a thinner than usual model. It has so far only been seen in the iPhone 6+ – a larger version of the iPhone 6.

The phone, which launched on Friday, is on sale for £619 in the UK.


But Apple support says bent iPhones must pass a visual inspection to qualify for warranty replacement

By now you’ve probably heard about #Bendgate, the silly name for an issue that some new iPhone 6 Plus owners have been reporting where the device warped while in their pockets. So far the problem seems to be fairly isolated, but we struck up an Apple support chat anyway to see how it’s covered by the company’s warranty.

When asked if a bent enclosure during normal use of an iPhone 6 or iPhone 6 Plus would qualify for a replacement, the representative said:

That is 100 percent up to the Genius you speak with at the store. There is a test called a Visual Mechanical Inspection that the device will have to pass. If it is within the guidelines, they will be able to cover it. If not, the replacement would be a paid one.

 In my opinion this is big mistake and Apple will pay a lot for it.

Apple, New Update, New Problems

Every one knows that new things in life misused or some times coming out with defaults,  but not with Apple and not in this time ! That is really hard luck while Samsung going forward with the new galaxy notes 4 and the Edge.

This is what reported today that: 

Apple Inc. (AAPL)’s latest software update for the iPhone and iPad tablet is causing popular applications made by Facebook Inc., Dropbox Inc. and others to crash more frequently, according to a report.

Apple’s iOS 8 operating system causes apps to crash about 3.3 percent of the time, or 67 percent more than last year’s version, according to a report by Crittercism Inc., an analytics firm that works with companies such as EBay Inc., Martha Stewart Living Omnimedia Inc. and Yahoo! Inc.

Customers have taken to Apple’s App Store to complain. One user wrote that Facebook’s app — the way most of the social network’s members access its service — “constantly freezes and crashes.” Dropbox, a file-storage service, also has put out updates to its app to fix problems it was having with iOS 8.

The US Politics Does Not Work With The Dragon

We’ve been watching the US dollar strengthen on a daily bases against the most of the major currencies in the market and specially with critical situation and the weak economy in the euro zone, Also the American politics taking a place to push the dollar that way, but not against the Yen.

While the Japaneses Yen gaining for the second week against the US dollar  after the first airstrike to the US army against the Islamic State in Syria as reported today.

Also they Added:

The yen strengthened for a second day against the dollar as the U.S. said it conducted its first airstrikes inSyria, boosting demand for the safest assets.

Japan’s currency gained the most in two weeks as the Israeli army said a Syrian fighter jet was shot down after it infiltrated the nation’s air space. The Bloomberg Dollar Spot Index retreated for the first time in three days.

“The yen is just a reaction to the risk-off sentiment,” Sireen Harajli, a Mizuho Bank Ltd. strategist in New York, said in a phone interview. “Syria is back in the spotlight, so it’s a lot of geopolitical risk that’s having its influence on the markets.”

The yen appreciated 0.2 percent to 108.63 per dollar at 8:56 a.m. New York time. It advanced as much as 0.5 percent, the biggest intraday jump since Sept. 5. Japan’s currency was little changed at 139.95 per euro. The shared currency gained 0.3 percent to $1.2881. The Bloomberg Dollar Spot index declined 0.2 percent to 1,055.16.

The Japanese currency advanced as the U.S. and its Arab allies sent fighter jets, bomber aircraft and Tomahawk missiles against the Islamic State, a major expansion of President Barack Obama’s effort to destroy the militant Sunni group.

The Aussie dollar rose earlier after an industry report showed Chinese manufacturing unexpectedly expanded this month. China is Australia’s largest trading partner.

To read more here.

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Gold Back To The Bottom Again

We can see today that the gold start “dips close to 9 months lows after Fed Policy Statement” , that is what FXStreet said this morning in their report.

Also said that :

Gold prices continue to fall, as the spot price stands at $1219.60 per ounce on Thursday. XAU/USD is at its lowest levels since late December of 2013. On the release front, there are three key events on the calendar – Building Permits, Unemployment Claims and the Philly Fed Manufacturing Index. As well, Federal Reserve Chair Janet Yellen will deliver remarks at an event in Washington.

The US dollar gained close to 100 points on Wednesday following the Federal Reserve statement. The Fed statement reaffirmed that interest rates would remain ultra-low for a “considerable time” after the asset purchase scheme (QE) ends next month, but surprised the markets in hinting that once a rate hike was introduced, rate levels could move up more quickly than expected. As expected, the Fed trimmed QE by $10 billion/month, and the remaining $15 billion/month is scheduled to be phased out in October.

And i can tell that non of the Russian and Ukrainian war or the fight in meddle east could help it and makes the investors go for at as a save trade from my point of view. Because of they think that the US dollar is going stronger and stronger day after day.

To read more just click her.

The US Stocks Rise Ahead The Fed Statement

That was the head line of most of the media while Wall Street woke up this morning ahead of a key statement by the Federal Reserve which is expected to provide clues on the next monetary policy move by the U.S. central bank. According to the

Also, reported :

Materials sector shares led the advance, with DuPont up 4.4 percent at $68.72 after activist investor Nelson Peltz’s Trian Fund Management, among the biggest shareholders in the company, urged it to separate its high-growth businesses from those with strong cash flows.

The broader market had its eyes on the Fed as it concludes a two-day policy meeting. It is expected to provide indications on how soon it may lift interest rates as it prepares for a shift in stance after years of aggressive monetary stimulus.

The benchmark S&P 500 posted its best daily performance in a month Tuesday and the Dow industrials set a record intraday high amid wavering expectations regarding the Fed’s stance.

Tuesday’s rally “discounted a favorable Fed statement today so anything more hawkish than a statement very close to the last one will probably be read negatively,” said Jack De Gan, chief investment officer at Harbor Advisory Corp in Portsmouth, New Hampshire.

He said if the statement was supportive of equities, the S&P should test resistance near the 2,010 area.

The Dow Jones industrial average was rising 28.87 points, or 0.17 percent, to 17,160.84, the S&P 500 was gaining 3.71 points, or 0.19 percent, to 2,002.69 and the Nasdaq Composite was adding 3.82 points, or 0.08 percent, to 4,556.58.

The largest percentage gainer on the New York Stock Exchange was U.S. Steel, which jumped 9.86 percent a day after the company estimated its results to be “significantly” higher than current Wall Street estimates. The largest decliner was Rackspace Hosting, down 15.98 percent after the cloud management services provider said it would not sell itself.

Among the most active stocks on the NYSE were Civitas Solutions, down 1.47 percent to $16.75; Petrobras , up 2.57 percent to $17.96 and Alcoa Inc, up 0.19 percent to $16.19.

On the Nasdaq, Net Element Inc, up 34.2 percent to $3.49; TiVo INC, down 1.1 percent to $13.56 and Yahoo , down 0.5 percent to $42.50, were among most active.

Net Element announced it will make it possible for customers to use Apple Pay by integrating Apple services into its point-of-sale payment acceptance hardware and software.

Advancing issues were outnumbering declining ones on the NYSE by 1,917 to 813, for a 2.36-to-1 ratio; on the Nasdaq, 1,419 issues were rising and 814 falling for a 1.74-to-1 ratio.

The broad S&P 500 index was posting 30 new 52-week highs and 5 new lows; the Nasdaq Composite was recording 24 new highs and 19 new lows.

And, those positive expectations rose the dollar against most of the major currencies in the market too, as the reported this morning that :

The dollar was mixed versus major rivals Wednesday, with investors largely taking a wait-and-see stance ahead of the outcome of a closely watched Federal Reserve policy meeting.

The dollar USDJPY, +0.17%  was at ¥107.26, compared with ¥107.13 late Tuesday in New York, close to the six-year high of ¥107.39 from Friday.

Meanwhile, the euro EURUSD, +0.04%  traded at $1.2966, up slightly from $1.2960. It was at ¥139.06 versus the yen, up from ¥138.86.

The ICE dollar index DXY, -0.11% a measure of the U.S. currency against a basket of six major rivals, traded at 83.959, down from 84.244.

The British pound GBPUSD, +0.47%  traded at$1.6332, up 0.4%. The pound has been under pressure on uncertainty ahead of Scotland’s referendum on breaking away from the U.K. in a Thursday vote. Polls continue to show the “yes” and “no” camps running neck and neck.

The Biggest Fear In The Forex Market Is . . . ?

When you stop for a while and think with yourself or asking any one related to that business this question, what is your biggest fear ?

You will hear a lot of the personal concerns but they will agree that if the bank that you trade with has a scandal, here is the big shock because it will be a major problem not personal one, and at that point you will feel totally unsecured and all your investments are in danger and even if you heard that ” The world’s biggest banks are overhauling how they trade currencies to regain the trust of customers and preempt regulators’ efforts to force changes on an industry tarnished by allegations of manipulation “.

As the report from the Bloomberg said but what is going to flow in your mind ?

If you want to know more about that just click here.