i hope peopel followed my morning analysis on twitter and morning IMT. USDCAD hits 1.0760 target, and more USD and JPY gains seen ahead after dismal US jobs figures.
Personally I think we will see high 1.49x levels today in the Euro and will have another lift off in the Aussie due to another risk rally. But that's 50/50. No one can know what happens. What's rather interesting is that the stock rally yesterday wasn't followed by a currency rally. I know most here seem to be Dollar bulls (at least short term) but I just don't see why there should be a huge(!) risk aversion above normal correction moves should happen.
hey ashraf do u prefer silver over gold???im tryn to convince myself to buy some gold but i find it hard concidering i was invested in gold back in nov.feb but a friend convinced me to invest in banks so i did an it was a huge mistak...but im worried if i buy gold at this level an it has a major correction it will wipe me out again..lol.. as much as i want to buy gold, i doubt i will as fear of being wipedout make self preservation a stronger option....ive worked hard over the last few mths to build my accts back up to were i can say im back in the game..an i owe a huge part to the advice u give for free...do u see anything wrong with my thinkn..i also have a hard time beleiving the worlds are ok an i think more troubles are on there way..do u think the commercial realastate is the next thing to fail if so how big of a impact will it have,,,there been talkn about it for the past 6mths or more, so its not like they didn;t have time to plan for it,or is it so big of a problen theres not much they can do about it..ok thanks ashraf for your time take care
chloe, china definitely has more FX reserves and will inevitably accumulate more gold as it said it will do. i suggest you accumulate silver and/or gold if you havent already. i was bullish gold in my book and still am. and the gold india story has been key in propping EUR/
hi ashraf ...with india buying 200tons of gold the other day..i heard on the news that china was willing to by the other 200tons but they wanted it at a discount..were india paid top dollar of 1054...is there anything to read into that...does china think gold is not worth its currrent price ??also who has more cloute china or india when deals of this nature are done...thanks
chloe, We could well see $1100 gold if FOMC maintains language on liquidity levels remaining "exceptionally low" "extended period". As long as market sees NO intention by Fed to withdraw liquidity, there's no reason to buy USD. Those 2 words will be USD-negative and could see $1.6640 in cable.
Hawkishness means they remove some of those words and markets could drop nearly 1.5% from current levels.
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(2 years ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(2 years ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(2 years ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (2 years ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (2 years ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (2 years ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(2 years ago)
Do we have a return to the good old fundamentals? :)
Ashraf
Ashraf
what is ur advice where u see the market today ?
thanks
Ashraf
Hawkishness means they remove some of those words and markets could drop nearly 1.5% from current levels.
Ashraf