With Markets At All Time Highs, Greece Is Gonna Blow; Sell Some Stocks

The United States’ stock market indexes are hitting new highs. This is primarily due to a market sugar-high induced by the Federal Reserve keeping interest rates at almost zero and injecting trillions of printed dollars into the American economy. However, Americans are not placing enough importance as to what is happening in Greece. This could be the black swan that destroys your retirement portfolio; for Greece is about to possibly be kicked out of the Eurozone, and that will have a devastating on American financial markets. Sugar-highs don’t last forever.

There is a political component to all of this as well. When Greece is booted from the common euro currency, Russia is willing and waiting to provide financial assistance to Greece and pull the country into Russian President Putin’s Eurasian Economic Union. This will drive a stake through the heart of NATO and will significantly increase the chances of the Western Alliance falling apart as France, Spain, Italy, and others are looking for monetary help as well due to their appalling national debts brought on by years of out-of-control spending.
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Gold prices dip in early Asia with Greece talks in focus, U.S. shut

Gold prices eased mildly on Monday in early Asia with Greece talks in focus later in the day and U.S. markets shut.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery eased 0.10% to $1,228.30 a troy ounce.
Elsewhere on the Comex, silver futures for March delivery fell 0.10% at $17.315 a troy ounce.
Meanwhile, copper for March delivery rose 0.12% at $2.606 a pound.
Last week, gold edged higher on Friday, as a broadly weaker U.S. dollar and ongoing uncertainty over developments in Greece boosted the appeal of the precious metal.
The drop in the dollar came after data on Friday showed that U.S. consumer sentiment unexpectedly deteriorated in February.
The preliminary reading of the University of Michigan’s consumer sentiment index fell to 93.6, down from January’s final reading of 98.1. Economists had forecast an unchanged figure.

The report came a day after data showing that U.S. retail sales unexpectedly fell 0.8% last month after dropping 0.9% in December, indicating that consumer spending remained sluggish at the start of the year.
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Gold / Silver / Copper futures - weekly outlook: February 16 - 20

Gold edged higher on Friday, as a broadly weaker U.S. dollar and ongoing uncertainty over developments in Greece boosted the appeal of the precious metal.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery tacked on $6.40, or 0.52%, to settle at $1,227.10 a troy ounce by close of trade on Friday.

Futures were likely to find support at $1,216.50, the low from February 11, and resistance at $1,245.90, the high from February 10.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, dipped 0.06% to 94.24 late Friday to end the week down 0.5%.

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 drop in the dollar came after data on Friday showed that U.S. consumer sentiment unexpectedly deteriorated in February.
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FOREX UPDATE: Rupee logs first gain in 5 days, rises 12 paise

The Indian rupee on Friday rose 12 paise to end at 62.19 against the dollar, logging its first gain in five sessions, on selling of the US currency by banks and exporters amid a strong local equity market.
The Indian rupee opened higher at 62.14 compared to Thursday's close of 62.31 at the Interbank Foreign Exchange (Forex) market in Mumbai. It firmed up further to a high 62.04 on initial selling of dollars by banks.
However, the rupee trimmed its initial gains and fell to 62.21 per dollar on some dollar demand from banks before finishing at 62.19 per dollar, logging a net gain of 12 paise or 0.19 per cent.
The rupee had dropped by 62 paise, or 1.01 per cent, in the previous four days.
The local currency hovered in a range of 62.045 and 62.21 per dollar during the day.
The dollar index was down by 0.06 per cent against a basket of its major global rivals.
Veracity Group, CEO, Pramit Brahmbhatt said: "Rupee took cues from strong local equities which extended its yesterday's gain and closed up by over one percent".
Also, FII buying in debt market helped the rupee to trade strong against the dollar index, he added.
The trading range for the spot USD/INR pair is expected to be within 61.70 to 62.70.

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Gold ticks up from five-week low as Greek debt drama unfolds

(Reuters) - Gold edged higher on Thursday, after earlier dropping to a five-week low, as confusion over Greece's debt negotiations with its European lenders dominated markets, drumming up some safe-haven bids for the metal.
Spot gold fell to $1,216.45 an ounce, its lowest since Jan. 9, before recovering to trade up 0.1 percent at $1,220 by 0326 GMT.
The metal lost 1.2 percent on Wednesday as the dollar hit a three-week peak against a basket of major currencies on weakness in the euro and the yen.
"We continue to see a conflicted gold market with the market split between bears and bulls as the U.S. dollar strength improves against global economic issues and safe-haven demand," said ANZ analyst Victor Thianpiriya.
Gold, seen as a safe-haven asset, tends to get a boost during times of economic and geopolitical uncertainty.
Financial markets are under pressure as euro zone finance ministers were unable to agree with Greece a final statement or a way to continue talks until their next meeting on Monday, following hours of discussions in Brussels to extend an international bailout.

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Pound climbs to seven year high against euro

Holidaymakers heading to Europe saw their budgets boosted on Wednesday as the pound climbed to its strongest against the euro in more than seven years.

Sterling climbed by as much as half a cent against the euro to €1.354 on Wednesday, its strongest since January 2008. The pound also climbed by close to half a cent against the dollar, to $1.53.

Against the Bank of England's trade-weighted currency basket, which compares the pound to a range of other currencies, sterling rose above 90 for the first time since October 2008.

Analysts said traders were covering their positions as there was a chance that the Bank could signal on Thursday that an interest rate rise could come sooner than recent market expectations for summer 2016.

"Sterling is today’s best performing currency ahead of the Bank of England's Inflation Report, which, although will support market expectations that rates would not rise before spring 2016, may be followed by a hawkish testimony from Governor Mark Carney, whose pronouncements have proven to be more upbeat than Bank reports," said Ashraf Laidi, chief global strategist at City Index.

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5 Top Gold Stocks For 2015

The precious metals market isn’t really all about metals. Well, it sort of is but it is not ONLY about metals. Mining stocks are a significant part of the market and one that is very much interesting for gold and silver investors. In this commentary, we try to give you an idea why but we don’t stop there. We also discuss the 5 top gold stocks for January 2015 and let you know what might make a solid mining stock investment, in our opinion.

Mining stocks is the general name for the stocks of companies extracting metals. The term is pretty self-explanatory, companies that qualify to this category mine metals, not only precious metals but also ores like copper. From the perspective of a precious metals investor, the most interesting mining stocks are those linked to gold, silver, platinum and, possibly to a lesser extent, palladium. In these considerations we’ll apply the term “mining stocks” in this restricted form, and only to senior mining stocks.

A precious metals investor might be interested in mining stocks for a variety of reasons. First of all, mining stocks are readily available in the sense that you can buy them very much like you would buy any other kind of stock via your broker account. So, buying them is easy and the commissions on these transactions are not very high. Secondly, it’s not only easy to buy mining stocks, it’s also relatively easy to sell them, meaning that there usually is a wide range of possible buyers and sellers so you can close out your positions very quickly.

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Emefiele, CBN Gov Roars! Nigeria Shouldn’t Be Importing Tomatoes, Rice, Fish, Toothpicks, etc

RECENTLY, the CbN Governor, Mr. Godwin Ernefiele met with the organised private sector to discuss developments in the foreign exchange market. He gave insights into the continued pressure on the Naira, blaming it on speculative activities of operators. He urged the Nigerian business community to focus on local production, promising that the CbN will assist local manufacturers of products that are now being imported into the country.
Excerpts:
No cause for fear, panic
I would like to say, just to underscore a point, that people are nervous, people are worried, let me assure you and say that there is no need to be nervous, there is no need to panic. No doubt there is a need for concern, and we will certainly find a solution to the current crisis caused by falling oil prices. It is a journey that all of us are already in. I say with commitment, we will pass through it. That is why I am trying to say that there is no need for anybody to be nervous.

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Currency Devaluations Are an Undeclared War

(Bloomberg) -- The global currency war is threatening to prove a silent killer.
So says David Woo, head of global rates and currencies research at Bank of America Merrill Lynch in New York.
While some question the existence of any conflict -- arguing that falling exchange rates merely reflect efforts by central banks to spur lackluster domestic economies -- Woo expresses concern.

“There is a growing consensus in the market that an unspoken currency war has broken out,” he said in a report to clients this week. “The reason why this is a war is that it is ultimately a zero-sum game -- someone gains only because someone else will lose.”

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China Money Rate Completes Longest Weekly Rally Since June 2013

(Bloomberg) -- China’s benchmark money-market rate rose for the fourth straight week, the longest run of gains since June 2013, as the central bank stepped up cash injections ahead of initial public offerings and the Lunar New Year holidays.
The People’s Bank of China pumped a net 90 billion yuan ($14 billion) into the financial system this week in open-market operations, after adding a total 105 billion yuan in the previous two weeks. It boosted the supply of funds also by lowering lenders’ reserve-requirement ratios effective Thursday. Twenty-four IPOs next week will lock up 2.05 trillion yuan in orders, according to the median of estimates from nine brokerages. The New Year holidays start Feb. 18.

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Forex Technical Analysis: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold

EURUSD, “Euro vs US Dollar”
Eurodollar is still moving downwards; the pair hasn’t been able to continue growing. We think, today the price may fall towards level of 1.1200 or reach level of 1.1000. An alternative scenario implies that the market may try to form another ascending structure.

GBPUSD, “Great Britain Pound vs US Dollar”
Pound is attempting to form another ascending wave. We think, today the price may fall towards level of 1.4900. However, an alternative scenario implies that the market may continue growing; which may be considered as a correction. After that, the market may continue falling towards the above-mentioned target.

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Trade Forex Online With TradeStation

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Without receiving any requotes, news Dealers can trade the fast moving marketplace news. Our dedicated and experienced staff helps you with setting up your trading platform and offers quality informative material on the structure of the forex market, mysteries of the margin trading, tricks of FX speculation and much more. Forex Currency Pairs are the integral instruments being traded in Forex. Because of the Commodities Futures Modernization Act of 2000, controlling bodies such as the U.

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Trade Idea Wrap-up: USD/CHF - Buy at 0.9120

Although dollar's retreat after yesterday's rise to 0.9346 suggests consolidatin below this level would be seen and pullback to 0.9185-90 (38.2% Fibonacci retracement of 0.8936-0.9346) is likely, reckon downside would be limited to 0.9141 (50% Fibonacci retracement) and bring rebound later. Above 0.9300 would bring retest of 0.9346 but break there is needed to signal recent upmove has once again resumed for headway to 0.9375-80 and possibly 0.9400.

In view of this, we are looking to buy dollar on subsequent pullback as 0.9141 should limit downside. Below previous minor resistance at 0.9116 would suggest a temporary top has been formed, bring test of 0.9093 (61.8% Fibonacci retracement of 0.8936-0.9346) and possibly towards 0.9050 before prospect of a rebound later.

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Toronto stock market heads for higher open

TORONTO - The Toronto stock market was set for a higher open Monday as oil prices rose and traders awaited the latest reading on the health of the American manufacturing sector.
The Canadian dollar was ahead 0.19 of a cent to 78.86 cents US.
New York futures were mixed as the Dow Jones industrial futures rose 61 points to 17,158, the Nasdaq futures declined 4.3 points to 4,137 and the S&P 500 futures edged 6.8 points higher to 1,995.2.
Investors looked to the mid-morning release of the Institute for Supply Management's manufacturing index for January for reassurance about the U.S., which is now viewed as the major prop for the global economy. Growth in China has stalled and the European Central Bank is just now embarking on a program of quantitative easing aimed at stabilizing the economy and boosting inflation.

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Can This Phenomenal Market-Beating Share Continue To Be A Winner?

Over the past six-plus years since the start of 2009, tourism-asset owner Straco Corporation Ltd (SGX: S85) has seen its shares increase by a phenomenal 744% in price to S$0.76 currently.
In comparison, Singapore’s market benchmark, the Straits Times Index (SGX: ^STI), has grown by barely 93% to around 3,400 points at the moment.
Given the share’s strong historical run, it is natural to ask: Will Straco continue to be a winner?
That’s certainly not an easy question to answer. But fortunately, the legendary investor Peter Lynch has given us some great tools to help with that. In his book One Up on Wall Street, Lynch shared the checklist he had used personally while he was managing the Fidelity Magellan Fund in the USA from 1977 to 1990 (he retired in the latter year).

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Forex - European Highlights Monday 02 February (Today) - Update

Bonds and Equities -
Core bonds largely treading water which is quite positive trade so far given the strong ends to last week. PMIs within expectations (final euro manufacturing PMI unrevised overall), albeit with a slightly firmer than consensus bounce in the UK version to 53 from 52.7 helping shorter dates underperform a bit on the day (GB-DE 5s +3.5bp). Overall though gilts still holding up solidly, especially at the long end, after the bullish breakout higher into month end
Club Med start the week on a firmer note, if slightly off the opening highs, with very flush cash flow (almost EUR60bn of coupon+redemption split between the two) a helpful factor this week. BTP future around +40 ticks.
Equities are generally modestly ahead.

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Stock markets end a downbeat January

Both the Dow Jones and S&P 500 ended the month down by more than 3%.

Shares of hamburger chain Shake Shack sizzled on Friday following its IPO while Amazon’s rallied after a strong earnings report. But a few bright spots couldn’t ward off another day of losses for the stock market, which closed out January in the red. Concerns about weak domestic economic growth weighed down the market on Friday after the Commerce Department said that U.S. gross domestic product grew at a lower-than-expected annual rate of 2.6% in the fourth quarter of 2014 — down from 5% during the previous quarter. Friday also brought renewed concern over economic stability in Europe, where Greece’s new finance minister said the country would not negotiate new bailout terms with the European Union and International Monetary Fund.
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Daily FX Trading Update: Japanese Inflation Figures Fall Short – Jan 30, 2015

The US dollar was able to advance against most of its FX trading counterparts when risk aversion extended its stay in the currency market. Traders are also increasing their long dollar bets after the FOMC retained its hawkish bias earlier this week. Data from the US economy was mixed, as the initial jobless claims showed a better than expected 265K reading versus the projected 301K figure while the pending home sales report marked a 3.7% decline. For today, the US advanced GDP reading is due and another strong figure might lead to more gains for the dollar. Analysts are expecting to see a 3.0% growth figure for Q4.

The euro recovered slightly in recent FX trading, despite weaker than expected data from Germany. The preliminary CPI showed a 1.0% decline instead of the projected 0.8% drop while the unemployment change report showed a mere 9K drop in joblessness. Apart from that, the previous month’s reading was downgraded to show a smaller decline in unemployment. German retail sales and French consumer spending figures are up for release today, with the former likely to show a 0.4% gain and the latter to print a 0.3% uptick. Also up for release are the Spanish flash GDP and CPI figures, along with the euro zone CPI flash estimates.

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Personal Finance: Stock investment styles -- growth versus value

The plethora of choices available to stock investors can seem bewildering at first blush. Some 14,000 companies trade in U.S. Dollars on American stock exchanges and thousands more in their native currencies on foreign bourses. Large cap, small cap, international, domestic, high-octane or steady Eddie; sometimes the mind reels. A good starting point is to separate the choices into basic style categories seeking to broadly describe the general tenor of each potential investment.
Equities are traditionally divided into two style categories: growth and value. While there are other possible classifications and many shades of grey, this broad distinction is useful in assessing the appropriateness of an individual stock or stock fund with regard to a particular investor's goals and risk tolerance.
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Gold prices slightly weaker in Asia with focus on Fed meeting

Gold prices eased on Wednesday with investors looking ahead to comments from the Federal Reserve on the prospects for a rate hike this year.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery eased 0.05% to trade at $1,292.30 a troy ounce.

Overnight, gold erased losses to hit the highest levels of the session on Tuesday, after data showed that U.S. durable goods orders fell unexpectedly in December, fuelling concerns over the strength of the economy.

Prices fell by as much as $7.10 earlier to hit a daily low of $1,273.30, the weakest level since January 19.

Also on the Comex, silver futures for March delivery fell 0.03% at $18.078 a troy ounce.

In a report, the U.S. Commerce Department said that total durable goods orders, which include transportation items, fell by 3.4% last month, compared to expectations for a gain of 0.5%.
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