tag:blogger.com,1999:blog-22099644102851387602024-03-12T17:53:10.870-07:00Learn Forex Market Tips OnlineLatest Forex Market tips Online Forex Market Latest Updates and Exchange RatesMr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.comBlogger181125tag:blogger.com,1999:blog-2209964410285138760.post-91547129725513217592013-02-26T09:52:00.003-08:002013-02-26T09:55:40.748-08:00 Palladium May Outshine Gold And Silver In 2013<div dir="ltr" style="text-align: left;" trbidi="on">
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Since opening December at $682, palladium prices have made a nice run closing last week at $738. Part of this was due to a massive increase in speculative long positions in the futures market on the Fed's announcement of additional stimulus measures last month.
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Following the U.S. "fiscal cliff" deal, palladium rebounded strongly at the start of 2013 (along with platinum), rising to $711 on 2nd January, a level last seen in March of 2012. However, it has since consolidated and spiked to over $750 only to pull back to the $730 level on some recent weakness. Much of this weakness was attributed to falling platinum prices (pulled back along with gold), after the Federal Reserve suggested that its quantitative easing program could end sooner than expected.
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Palladium's fundamentals can be quite attractive even when its price is on a downward track. Though palladium is a precious metal, it tends to trade differently than its peers, which include gold and silver. Those metals are commonly targeted and monitored for their safe haven appeal and may perform well even in bleak economic conditions. Palladium, which is considered a cyclical commodity, is not generally sought for protection. It tends to perform best when there is a prevalent appetite for risk. During times of economic turmoil or uncertainty, when investors are de-risking, it is common to find palladium prices caught up in the same negative sentiment - thus prices fall and ETF holdings decline.
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With regard to the forecast, many (including myself) expect palladium prices to move steadily higher over the next few months and beyond. Given the metal's recent strength, I believe palladium is set to gain some momentum and traction-- mainly due to rising demand and a continued supply deficit. Furthermore, palladium was overlooked for much of 2012 but many believe investors will find the metal more attractive this year and investment demand is therefore expected to be an additional source of support for the market.
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Subject to any further developments on the platinum supply side, I would not be surprised to see palladium challenging the $765 level over the next 60 days. Despite the usual profit-taking and the potential of lower platinum prices in March, I still expect palladium prices to maintain an upward trend. Strong support should come from the metal's positive fundamentals due to the expected substantial underlying deficit for the seventh consecutive.
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Furthermore, palladium should be able to take advantage of the growth in global auto sales as global car sales exceeded 80 million for the first time ever in 2012 and are expected to surpass that number in 2013. With a robust recovery in the North American auto sector and a continuation of a solid increase in the auto sector in China, prospects for automotive demand for palladium remain favorable. According to the China Association of Automobile Manufacturers (CAAM),China's auto production was 1,964,500 units in January, an increase of 10.06% compared with December, and up 51.17% compared with the same period of last year.
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One company that may benefit from the anticipated increased demand for palladium is U.S.-based Stillwater Mining (SWC). As stated earlier, gold and silver get all the attention in the precious-metals world, yet platinum and palladium are far scarcer, and SWC is the only U.S. source for platinum-group metals. Stillwater Mining claims to be largest palladium producer outside of Russia and South Africa. One of the key factors of Stillwater's success may be tied directly to the strong demand for its metals. That, in turn, relies largely on the health of the global auto industry, which uses platinum and palladium in catalytic converters.
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Furthermore, Stillwater Mining should benefit from mine shutdowns in South Africa by Anglo American Platinum (AAUKY) as the company stated in January that it will cut output by 400,000 ounces, and since then platinum and palladium prices have soared so far in 2013.
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Currently trading at just below $13, Stillwater offers some great upside potential as the company hit almost $24 just 18 months ago and has been on a steady upward climb from the $8 level last September. A 50% retracement would offer a $16 price from a technical perspective.
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Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com9tag:blogger.com,1999:blog-2209964410285138760.post-74137343172336277842013-02-26T09:42:00.002-08:002013-02-26T09:42:46.179-08:00Implications Of A US Dollar Bull Market<div dir="ltr" style="text-align: left;" trbidi="on">
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The FT’s Alphaville has an interesting article entitled A dollar bully. It’s about UBS analyst George Magnus, who sees a burgeoning US dollar bull market, slowing emerging market growth and warns about the end of the commodity cycle.
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He also draws an interesting parallel between times of USD strength and financial instability.
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Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com25tag:blogger.com,1999:blog-2209964410285138760.post-90284517249279003242013-02-26T09:30:00.002-08:002013-02-26T09:30:39.233-08:00Commodity Currencies Take A Spill<div dir="ltr" style="text-align: left;" trbidi="on">
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USDCAD is at the highest since June and AUDUSD at the lowest since October.
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Strong AUDUSD bids ahead of 1.0200 and stops below. The correlations have clearly changed. Strength in the US economy is attracting investment and hurting commodities.
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Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com4tag:blogger.com,1999:blog-2209964410285138760.post-9748948280662299142013-02-26T09:25:00.000-08:002013-02-26T09:25:08.395-08:00 NZDUSD Sinks Below Uptrends<div dir="ltr" style="text-align: left;" trbidi="on">
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Some substantial technical damage on the NZDUSD chart today, breaking both a minor and major uptrend.
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The kiwi is easily the worst performer today.
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Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com5tag:blogger.com,1999:blog-2209964410285138760.post-39160340019976542482013-02-26T09:21:00.000-08:002013-02-26T09:22:17.028-08:00If You Don’t Like Whipsaws, Don’t Trade Gold<div dir="ltr" style="text-align: left;" trbidi="on">
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It seems every time there is a jump or a fall, there is a monster on the other side of the the market waiting to jump in. Gold up $14 now to $1607 after falling to a session low of $1585 thirty minutes ago.
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Bernanke is taking questions now but his answers can’t be interpreted one way or the other.
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Goldman cut its 2013 and 2014 gold forecasts earlier today. They see gold at $1600 in 2013 vs $1810 previously.
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Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com46tag:blogger.com,1999:blog-2209964410285138760.post-31652105501366940012013-02-26T09:10:00.003-08:002013-02-26T09:17:57.065-08:00USD/JPY Slides Toward 91.00<div dir="ltr" style="text-align: left;" trbidi="on">
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USD/JPY fell through bids at 91.20 as Bernanke offers no hint that he’s in any hurry to taper asset purchases.
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There is strong demand at 90.05/00 with stops below. More demand, albeit smaller, is seen ahead of yesterday’s low of 90.86 and extending down to 90.75.
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Looking at the entirety of the USD/JPY move since mid-November, it has been long overdue for a correction. It appears to be breaking out to the upside after the appointment of Kuroda but there has been a massive reversal. From a purely technical perspective, you have to be wary of correction toward 90.00/88.00.</div>
</div>Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com1tag:blogger.com,1999:blog-2209964410285138760.post-84377765747040405072013-02-09T22:10:00.000-08:002013-02-10T10:13:18.656-08:00Euro Bull Trend May Survive Draghi, Heavy Event Risk Ahead<div dir="ltr" style="text-align: left;" trbidi="on">
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<b>Dollar Rally Halted as Risk Aversion Fails to Materialize</b><br />
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The dollar closed out an astounding week, but can the currency transition its impressive rally into a lasting bull trend? This coming week may very well determine the medium-term ambitions of the world’s most liquid currency. Before looking ahead, it is important to tally the currency’s score up until this point. Through Friday’s close, the Dow Jones FXCM Dollar Index (ticker = USDollar) actualy suffered its worst one-day tumble in a month. However, the cumulative strength for the currency would still offer the highest weekly close for the benchmark since September of 2010. Furthermore, a greater legitimacy was given to the dollar’s underlying strength as EURUSD finally capitulated in its biggest drop (2.0 percent through the past week) since before current bull phase began back in late July.</div>
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Yet, as important a pair as EURUSD is, it cannot be the sole source of sustained dollar strength. In fact, the two largest individual contributors to its impressive performance over the past week and months are at considerable risk of withdrawing their self-sacrificing support. For the most liquid of currency pairs, the euro has suffered a significant setback this past week as the market fretted the European Central Bank (ECB) would join the movement to devalue its currency in order to remain competitive in a manipulated world. Central Bank President Draghi did mention the currency, but he is far from reversing the trend of a shrinking balance sheet. If FX traders recognize this, it could quickly revive the euro’s relative appeal – as the Federal Reserve has no intention of easing back from its $85 billion-per-month stimulus effort.</div>
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Far more crucial to the dollar’s performance over the past months, though, is the contribution made by USDJPY. Here too, the appeal is a competitive devaluation of the yen that bolsters the dollar’s appeal. We know Japanese officials’ intentions are resolute, but the currency has dropped substantially without tangible movement on easing – only threats. Should carry traders (who short the yen for the yield advantage in counterparts) recognize this, the USDJPY carries a considerable proportion of the dollar’s strength.</div>
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So, looking ahead, it seems that the dollar’s future is in the hands of its largest counterparts. Yet, there is a way that it can define its own fundamental fate and genuinely advance against most major counterparts: a meaningful drop in risk trends. Whether the catalyst is European GDP figures, the G30 growth forecasts, sequester fears or G20 currency war threats; it wouldn’t take much to ignite such dry tinder.</div>
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<b>Euro Bull Trend May Survive Draghi, Heavy Event Risk Ahead</b></div>
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There was little mistaking the euro’s weakness this past week. Through the final trading session, the shared currency dropped against most counterparts; and the losses on the week ranged between 1.0 and 2.8 percent against its various pairings. That said, this wide-spread selling may prove temporary if the currency can keep its head above fundamental water. Critical is the market’s assumption of where the euro stands in the spectrum of the currency war. ECB President Draghi’s remark that a high currency can spill over to the central bank’s inflation and growth mandates, he didn’t spell out a threat to cut rates or link it to fresh stimulus. For tangible efforts, this is a very bullish-euro factor.</div>
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The more unpredictable risk to the euro moving forward is the short and medium-term impact that the scheduled docket holds. It seems the market conveniently ignores the fact that the Eurozone is in a recession, but we will certainly be reminded of this reality with the release of 4Q GDP figures from the Eurozone, Greece, German, et al. Another dredged up threat to the currency may come in the form of fear of a returning financial crisis. Finance Ministers are set to discuss Cyprus’ bailout, Greece’s progress and bank bailouts at the start of the week.</div>
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<b>Japanese Yen: USDJPY Ends Longest Rally on Record, Now for a Turn?It had to end eventually. USDJPY’s epic 12-week long rally</b> – the longest advance for the pair on record since the Gold Standard was dropped – finally came to an end with Friday’s close. That said, the 9-pip decline week-over-week is hardly an ambitious reversal. Momentum can build with the right encouragement however. At the center of the yen’s weakness is the fear of massive devaluation. This is certainly reasonable concern, but it has also moved well before the effort is realized. With Japan easing back before the G20, we may see traders follow suit.</div>
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<b>British Pound Rally this Past Week a Relief Move, Not Permanent</b></div>
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The sterling put in for a monster performance through the end of this past week. In fact, the two-day rally for the pound against the dollar was the biggest this year; and versus the euro and loonie, the sharpest since November 1, 2011. This move began with an unwinding of stimulus expectations and then was parlayed into Prime Minister Cameron’s win at the EU budget. The problem: these aren’t lasting drivers…</div>
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<b>Canadian Dollar Plunges after Employment Data</b></div>
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Between a significant miss in the labor data and an unexpected plunge in the housing sector, the Canadian dollar was hammered through Friday. January housing starts posted the biggest drop since April 2009 to the slowest pace since July of the same year. As for jobs, the 21,900-position drop in employment was the biggest in six months; and the downtick in unemployment comes from a drop in participation.</div>
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<b>Australian Dollar Eying 1.0200 as Risk Trends Flutter</b></div>
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It’s telling of underlying risk trends when benchmark US equity indexes are closing at five-year highs, but the high-yield Australian dollar fades lower against most counterparts. AUDUSD is down 2.6 percent on the month, and a more serious break lower is dangerously close. Some of this may be due to repatriated ‘safe haven flows’ but if the traditional risk measures (shares) break lower, we will have a new driver: risk.</div>
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<b>Gold Faces Near-Term Breakout as Traders Weigh Venezuela, G20, GDP</b></div>
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Gold has found itself into a terminal wedge with less than $20 of range to trade within. In other words, this metal is looking at a meaningful break from congestion in the coming week. Follow through depends on whether the spark is fundamentally derived. Talk of rescuing EZ members Monday, justified devaluation at the G20 or fading growth with 4Q GDP updates all speaks loudly to this alternative store of wealth.</div>
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Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com2tag:blogger.com,1999:blog-2209964410285138760.post-3734088192458526262013-02-09T14:35:00.000-08:002013-02-09T14:39:06.755-08:00Latest Forex Market Analysis by ForexHound.com<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="text-align: left;">The EUR USD opened the New York Session sharply higher following the release of better than expected economic reports out from France and Germany. The reports showed surprise improvements in French manufacturing and German services. This news set the table for a spike to the upside until Fed Chairman Bernanke declared that the U.S. economy was on the verge of emerging from the recession. His statement sent equity markets and the Dollar soaring putting downside pressure on the Euro.</span></div>
Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com1tag:blogger.com,1999:blog-2209964410285138760.post-57557841935130295292013-02-09T14:22:00.000-08:002013-02-09T14:22:36.106-08:00Shares rise 2.3 per cent in Seoul<div dir="ltr" style="text-align: left;" trbidi="on">
Seoul - Shares surged 2.3 per cent Thursday on the Seoul stock exchange on strong buying by foreign investors while South Korea's currency gained against the dollar.<br />
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The benchmark Kospi index soared 36.91 points to close at 1,644.68.<br />
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Advancing issues outpaced decliners 604 to 217.<br />
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The main index of the technology-heavy Kosdaq market inched forward 4.81 points to 525.01.<br />
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On currency markets, the US dollar was quoted at 1,224.50 Korean won, after 1,227 won Wednesday. (dpa)</div>
Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com1tag:blogger.com,1999:blog-2209964410285138760.post-7435552905430497352012-05-31T13:31:00.003-07:002013-02-09T12:27:36.885-08:00Euro Declines as Fears Grow<div dir="ltr" style="text-align: left;" trbidi="on">
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The euro extended its decline today amid mounting concerns about the sovereign-debt crisis in Europe and the ability of the eurozone to keep its integrity, caused by uncertainty about the June elections in Greece and signs that the crisis is spreading.<br />
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Spain is the second major worry, following Greece, for European investors, especially after its banks and regions lost access to capital markets. The government is continuously reassure that the country does not need a bailout, and the need to repeat that everything is good may be considered troublesome by itself. Even the powerhouse of the European economy, Germany, shows signs of weakness. Losses were limited, though, as polls showed that pro-bailout parties are gaining votes in Greece.</div>
Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com2tag:blogger.com,1999:blog-2209964410285138760.post-69766171291794749002012-05-31T13:29:00.001-07:002013-02-09T12:27:23.385-08:00Rupee Drops, Can Hurt India’s Economic Recovery<div dir="ltr" style="text-align: left;" trbidi="on">
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The Reserve Bank of India cut its key repurchase rate by 50 basis points to 8 percent in April and that move was followed by unexpected increase of inflation to 7.23 percent. Now the central bank is in a difficult position as without rate cuts the currency will continue to weaken, leading to growing inflation, but low borrowing costs may also boost inflation. Analysts estimated that gross domestic product increased 6.7 percent in March 2012 from a year ago, demonstrating the slowest rate of growth since March 2009.<br />
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USD/INR rose from 55.3750 to 55.1862 as of 18:49 GMT today.</div>
Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com1tag:blogger.com,1999:blog-2209964410285138760.post-60964585680216708152012-05-31T13:25:00.002-07:002013-02-09T12:27:11.754-08:00Canadian Dollar Sees Small Gains<div dir="ltr" style="text-align: left;" trbidi="on">
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Canadian dollar is seeing small gains today as oil prices rise a little, and as a bit of optimism returns to the markets. There are hopes that Greece will remain in the eurozone, as well as some expectation of a eurozone solution to the sovereign debt problem. All of this is providing a boost for the loonie.<br />
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Oil prices are slightly higher on the news that polls indicate that Greeks might put in pro-bailout politicians in after the new elections next month. Oil is helping the loonie against the greenback.<br />
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With oil prices inching higher, the Canadian dollar is finding some support. Oil is a major export for Canada, and as oil prices rise, the loonie finds a measure of support. However, the Canadian dollar is also receiving help from improvements in the global economy, and in a more optimistic outlook. Some of the trading is hampered, though, by the Memorial Day holiday in the United States.</div>
Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com1tag:blogger.com,1999:blog-2209964410285138760.post-91390243522132379832012-05-31T12:56:00.002-07:002013-02-09T12:26:30.159-08:00US Dollar Mixed in Forex Trading<div dir="ltr" style="text-align: left;" trbidi="on">
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US dollar is mixed in Forex trading, with markets somewhat choppy today. Greenback is once again higher than an embattled euro, but the US dollar is lower against commodity currencies. It looks to be an interesting day on the Forex market, even though US markets are closed for the Memorial Day holiday.</div>
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US dollar is turning in a mixed performance today, thanks to some of the unique situations at play right now. Greenback is higher against the euro, thanks to continued concerns about what is happening in the eurozone. Last week, Spain had to bailout banking giant Bankia, and there is still wrangling over the idea of eurobonds. No one seems to have a solution to the eurozone problem, and that is weighing on the euro.<br />
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However, US dollar is down against commodity currencies like the Canadian dollar and the Australian dollar. With gold and oil prices higher, commodity currencies are getting something of a boost right now. Even the Great Britain pound has turned higher against the US dollar, indicating that there might be some risk appetite in the markets after all. Dollar index is lower overall, in spite of the greenback’s strength against the euro.<br />
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At 14:39 GMT the dollar index is down to 82.241 from the open at 82.146. EUR/USD is down to 1.2535 from the open at 1.2578. GBP/USD is up to 1.5695 from the open at 1.5693. USD/CAD is down to 1.0258 from the open at 1.0266. AUD/USD is up to 0.9839 from the open at 0.9816.</div>
Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com1tag:blogger.com,1999:blog-2209964410285138760.post-57745084902474716502012-05-31T12:30:00.009-07:002013-02-09T12:26:16.275-08:00EURUSD Rallies to $1.24 as German Unemployment Rate Falls<div dir="ltr" style="text-align: left;" trbidi="on">
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The German economy looks unscathed. In fact, while some countries face an unemployment rate of 15 percent, 20 percent, or even 25 percent, the German economy just saw its unemployment rate hit a Euro-zone era all-time low, at 6.7 percent in May against a forecasted 6.8 percent rate, according to a Bloomberg News survey. When compared to all available data, the rate is not just the lowest since January 1999, but also as far back as our data goes, which is January 1991.<br />
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The unemployment rate was aided by a labor market that has proved resilient amid the decline of employment across the rest of Europe. Economists were predicting that the German economy had lost 7K jobs in May after gaining 19K jobs in April; however, no jobs were lost (or gained). When compared to other major economies, such as the United Kingdom or the United States, the German labor market looks relatively resilient; whose counterparts have unemployment rates of 8.2 percent and 8.1 percent, respectively. When compared to other Euro-zone countries, such as France, Italy, or Spain, the German labor market is that much more impressive; these countries have unemployment rates of 9.4 percent, 24.1 percent, and 8.8 percent, respectively.<br />
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The Euro gained across the board, most notably against the safe haven currencies, the Japanese Yen and the US Dollar. The EURJPY appreciated from 97.71 to as high as 97.94, while the EURUSD rallied from 1.2393 to as high as 1.2416<br />
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After setting a fresh 2012 low today at 1.2358, the pair has rebounded approximately 50-pips, setting up a Hammer candlestick on the daily chart. Typically, this price action indicates bulls closed out the session stronger than the bears, signaling a potential shift in momentum. Indeed, shorter-term charts suggest that rallies may advance as high as 1.2460/80, and it would take a significant fundamental catalyst to drive the pair back above 1.2500. As such, with two key US data releases today with quantitative easing expectations – the ADP employment report and the first quarter GDP revision – it’s very possible the EURUSD rallies up towards 1.2500 ahead of the US cash equity open.</div>
Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com1tag:blogger.com,1999:blog-2209964410285138760.post-29441137283331745372012-05-29T20:48:00.006-07:002012-05-31T13:40:23.321-07:00Yen Gains on Woes of Europe, Flat vs. Dollar<div dir="ltr" style="text-align: left;" trbidi="on"><div class="separator" style="clear: both; text-align: left;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjL9dcYLAGflAMn5mKldyCfAEeJ54DQEhQTG7HVf17Q3_JAL8L3X6NW9dbFOWJSlpstsV-3k6Mwh06n9Whtwqihao79svYXvmQH35cBO-DUHahKkfz9oXZqavLb74BH0geb_nMKNsB8iuDK/s1600/some-yen-notes-coins.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="173" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjL9dcYLAGflAMn5mKldyCfAEeJ54DQEhQTG7HVf17Q3_JAL8L3X6NW9dbFOWJSlpstsV-3k6Mwh06n9Whtwqihao79svYXvmQH35cBO-DUHahKkfz9oXZqavLb74BH0geb_nMKNsB8iuDK/s200/some-yen-notes-coins.jpg" width="230" /></a></div><div style="text-align: -webkit-auto;"><a href="http://friendfinder.com/go/g1361203" style="text-align: left;" target="_blank">http://friendfinder.com/go/g1361203</a> <br />
The Japanese yen gained against most Major currency today as endless woes of European Countries</div><div style="background-color: white; color: #373737; font-family: Arial, Helvetica, sans-serif; font-size: 14px; line-height: 19px; margin-bottom: 1.12em; margin-top: 1.12em; padding: 0px; text-align: -webkit-auto; unicode-bidi: embed;"></div><div style="margin-bottom: 1.12em; margin-top: 1.12em; padding: 0px; unicode-bidi: embed;">The not-so-impressive performance of the yen against the dollar may be explained by poor macroeconomic reports from Japan. The unemployment rate unexpectedly increased by 0.1 percentage point to 4.6 percent in April. Retail sales rose 5.8 percent in April, following the 10.3 percent advance in March. The median estimate was 6.2 percent.<br />
<a href="http://friendfinder.com/go/g1361203" target="_blank">http://friendfinder.com/go/g1361203</a> </div><div style="margin-bottom: 1.12em; margin-top: 1.12em; padding: 0px; unicode-bidi: embed;">Japan is not too happy about the strength of the yen as it hurts nation’s economy. The minutes of the Bank of Japan’s monetary policy meeting showed that the central bank is going to maintain its accommodative policy. But it does not look like the bank is ready for any aggressive actions and it is questionable if the central bank’s efforts would have any effect on the appreciating currency.</div><div style="margin-bottom: 1.12em; margin-top: 1.12em; padding: 0px; unicode-bidi: embed;">EUR/JPY dropped from 99.66 to 99.35 as of 21:16 GMT today, reaching intraday 98.93 — the lowest rate since January 19. GBP/JPY was down from 124.59 to 124.32. At the same time, USD/JPY traded at about 79.49, following the rise from 79.45 to 79.64.<br />
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</div>Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com0tag:blogger.com,1999:blog-2209964410285138760.post-59388675910031506052012-05-29T20:45:00.006-07:002013-02-09T12:43:47.135-08:00Europe Drives Loonie to Monthly Loss<div dir="ltr" style="text-align: left;" trbidi="on">
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The Canadian dollar fell today, heading to a monthly loss against the US dollar and a second straight monthly drop versus the Japanese yen, as the crisis in Europe eroded demand for currencies related to growth. Unsurprisingly, Canada’s currency managed to outperform the euro.<br />
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The European sovereign-debt problems is spreading and it does not look like European leaders have a solid plan to contain the crisis. Signs that the fast-growing Chinese economy is slowing also does not help commodities and currencies related to them. July futures on crude oil, the major export of Canada, were down 0.3 percent to $90.56 on NYMEX today, erasing its previous advance.<br />
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Canadian currency often gets help from the recovering economy of the nation’s neighbor — the United States. Today, though, US macroeconomic reports only hurt the loonie. The Standard & Poor’s Case-Shiller House Price Index fell in March on an annual basis. On the positive side, the decline was slower than in the previous month and the index rose on a monthly basis. A really unpleasant surprise was an unexpected drop of the Conference Board consumer confidence. Analysts predicted that the sentiment index would rise from 68.7 in April to 69.8 in May, but the gauge dropped to 64.9 instead.<br />
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USD/CAD was up from 1.0236 to 1.0257 as of 17:36 GMT today, following the earlier drop to 1.0206. CAD/JPY declined from 77.58 to 77.39, erasing its previous advance to 77.85. EUR/CAD slipped from 1.2837 to 1.2802, while the daily minimum of 1.2792 was the lowest since May 15.</div>
Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com0tag:blogger.com,1999:blog-2209964410285138760.post-68765248800404124852010-02-17T00:08:00.008-08:002013-02-09T12:44:03.449-08:00INR gains 20 paise against the USD<div dir="ltr" style="text-align: left;" trbidi="on">
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The Indian rupee gained 20 paise against the US Dollar to 46.30 in early trade today.<br />
The gain is mostly due to the sale of Dollars by Banks and exporters who were hoping for capital inflow in the market with the recovery in equity markets.<br />
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The rupee had closed at 46.50/51 against the dollar last weekend. It opened higher at 46.42/43 against the dollar, today and then rose to 46.30 before reaching at 46.34/35 at 1030hrs. In the early morning trade the rupee revolved between 46.30 and 46.45 against the dollar.<br />
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Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com0tag:blogger.com,1999:blog-2209964410285138760.post-18170775606287286482010-02-17T00:07:00.003-08:002013-02-09T12:44:14.156-08:00Vascon Debuts with 3% premium; Syncom with 17%<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="http://forextips4learn.blogspot.com/"><img alt="" border="0" id="BLOGGER_PHOTO_ID_5439121126280456898" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEaTfI8sHBNcL2ky0z5IO3XKLQXnFUkkEhZSVRaupdtTcuJjlSikc7MYqB3HQNlk1P-A0YonsFqDcDzpJ6dfWVwo9-D8FQ7SOnVelx5-POmw2jvup3de02BQDcJ8XVGxEuZNjOVXe1ELWR/s320/Vascon-Syncom-Logo.jpg" style="cursor: pointer; float: left; height: 172px; margin: 0pt 10px 10px 0pt; width: 224px;" /></a><br />
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Two firms, Vascon Engineering and Syncom Healthcare made their debut today on the Bombay stock exchange with a premium of 3 per cent and 17.3 per cent, respectively.<br />
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Vascon Engineering had fixed an issue price of Rs 165 per share for the issue. Its shares opened at Rs 170 on their first day and rose 5.1 per cent over the issue price to a high of Rs 173.45 on the exchange in Mumbai. Vascon has listed 9 crore shares on the exchange.</div>
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Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com0tag:blogger.com,1999:blog-2209964410285138760.post-90636238023448928812010-02-17T00:06:00.003-08:002013-02-09T12:44:31.020-08:00Research and Analysis of Visaka Industries Limited : Fairwealth Securities<div dir="ltr" style="text-align: left;" trbidi="on">
<a href="http://forextips4learn.blogspot.com/"><img alt="" border="0" id="BLOGGER_PHOTO_ID_5439120903011186690" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjXWy0ycgmRAkeyGKzGDMCRVFguYLRSFq0MrO7tKpA1MOBg9bYNJK5ojDdStY6qWBb06v7FO7-pclvdQENe55thkrX0VvTTnwHZTCTFNXfy2pnhLbspOmkX9EA3e7PeTEtw3gPA2atusdbM/s320/Visaka-Industries-Ltd.jpg" style="float: left; height: 320px; margin: 0pt 10px 10px 0pt; width: 267px;" /></a><br />
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Visaka IndustriesLimited (VIL), established in 1981, is the second largest cement sheet manufacturer in India with the total installed capacity of 6,30,000 tonnes. VIL is well diversified company engaged in the manufacture of fibre cement products and synthetic blended yarn. Company has pan india presence with 6 manufacturing plant for asbestos making plants and two manufactring plant for garments.<span style="background-color: white;"></span><br />
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FUTURE OUTLOOK:- At the current price of Rs 122, the stock is available at 5.54x of its FY09 earnings, 4.10x of its FY10E earnings and 2.79x of its FY11E earnings<br />
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Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com0tag:blogger.com,1999:blog-2209964410285138760.post-66969498665542918242010-02-17T00:05:00.003-08:002013-02-09T12:44:41.821-08:00Nifty Daily Watch Outlook: FairWealth<div dir="ltr" style="text-align: left;" trbidi="on">
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Indian market failed to discount strong global cues; Indices faced selling pressure at higher levels and closed on a weak note after trading in a volatile session. SENSEX closed at 15922, down 120 points and Nifty at<br />
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4757, down 35 points from the previous close. CNX MIDCAP index was down 0.14% and BSE SMALLCAP index was up 0.10%. Top gainers included HINDALCO, HDFCBANK, STER, HEROHONDA, and GRASIM. Top losers are listed as M&M, SBIN, LT, TATASTEEL and SUNPHARMA.</div>
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Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com0tag:blogger.com,1999:blog-2209964410285138760.post-66988060055305741972010-02-17T00:04:00.003-08:002013-02-09T12:44:54.880-08:00Plus Markets announces leadership shuffle<div dir="ltr" style="text-align: left;" trbidi="on">
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Simon Brickles and Stephen Hazell-Smith have finally decided to step down after actively running Plus Markets, the former Ofex for five years. The move would pave a way for the new generation to participate in the growth stories of the market amid very challenging times of slowdown.</div>
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Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com0tag:blogger.com,1999:blog-2209964410285138760.post-62917687861787735672010-02-17T00:03:00.003-08:002013-02-09T12:45:11.305-08:00Government to give 6 months for FCCB to align with market prices<div dir="ltr" style="text-align: left;" trbidi="on">
<a href="http://forextips4learn.blogspot.com/"><img alt="" border="0" id="BLOGGER_PHOTO_ID_5439120053212130834" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjHGANw-0d2o4CsjEdmSjPbar1KsWb0WFbUCZuUBhJ0Qqq_JHgSxGQl1xe-V-5dqFrbwX2lEN2pzqF6L6P6uQWVQQQ5CReLxtQv-LyUJ2JPZLuiRVfcac7Ksk8owfdkCTSGXV5XrRXgGdmU/s320/Government-FCCB.jpg" style="cursor: pointer; float: left; height: 200px; margin: 0pt 10px 10px 0pt; width: 300px;" /></a><br />
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The government has decided to allow companies that issued foreign currency convertible bonds (FCCBs) before November 27, 2008 to align conversion price as closer to the market price as possible.<br />
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The companies will now be able to revise their FCCB conversion price to the level of average weekly high and low share prices of the period of two weeks before the date of issue of securities. The relevant date of issue is determined by the board.<br />
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Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com0tag:blogger.com,1999:blog-2209964410285138760.post-456386717782852942010-02-17T00:02:00.003-08:002013-02-09T12:45:33.675-08:00Rise in Euro but worries still loom about Greek debt<div dir="ltr" style="text-align: left;" trbidi="on">
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The Euro finally found a bit of respite after the short-term players' buyback but the gains were not significant enough as it still remained close to the nine-month low against the dollar. The meeting of euro zone finance ministers failed to bring in any kind of confidence about the matter of Greece's debt problems. There seems to be no ray of hope in the near future for these problems</div>
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Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com0tag:blogger.com,1999:blog-2209964410285138760.post-50564018933329117512010-02-17T00:00:00.003-08:002013-02-09T12:46:51.491-08:00J B Chemicals & Pharmaceuticals Ltd (JBCPL) Long Term Buy Call<div dir="ltr" style="text-align: left;" trbidi="on">
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Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com0tag:blogger.com,1999:blog-2209964410285138760.post-85966378319112334832010-02-16T23:59:00.002-08:002013-02-09T12:47:01.319-08:00Nifty Daily Watch Outlook: FairWealth Securities<div dir="ltr" style="text-align: left;" trbidi="on">
<a href="http://friendfinder.com/go/g1361203"><img alt="" border="0" id="BLOGGER_PHOTO_ID_5439119197760384418" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-6KJnse0Zzbs-HB4WVdA7IU7RTWrGEbAKJgRTFWOoDoHAFCEy4Mfje5jUu-irTOJOktvVmCnvbkbDTVfDqG2qar7IL1bTu2Zvo91cEAYs9xDz0-RTEU9SWwsMxpXq_Y60jNgMGUZbv6iK/s320/Nifty-Daily-Watch.jpg" style="cursor: pointer; float: left; height: 228px; margin: 0pt 10px 10px 0pt; width: 250px;" /></a><br />
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Having positive global cues from European market, Indian market attracted buying interest and closed at strong note. SENSEX closed at<br />
16226, up 188 points and NIFTY at 4855, up 53 points from the previous close. CNX MIDCAP index was up 0.52% and BSE SMALLCAP index was up 0.54%. PHARMACEUTICALS, CAPITAL GOODS and METALS attract buying while BANKING and TELECOM stood weak. Top gainers included ACC, TATAMOTORS, HUL, M&M, AMBUJACEM, HINDALCO and RANBAXY. Top losers are listed as BHARTIARTL, HEROHONDA, AXISBANK and JINDALSTEL.<br />
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NEXT SESSION……..</div>
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Mr Sanghanihttp://www.blogger.com/profile/09489293324377576587noreply@blogger.com0