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, Yahoo.com 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.
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 Bloomberg.com 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.”
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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.
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 bloomberg.com 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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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 ?
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