Risk appetite increases http://www.marketwatch.com/story/dollar-gains-vs-yen-euro-ahead-of-g8-meeting TOKYO (MarketWatch) -- The dollar gained on its major counterparts in Asian trading Friday, ahead of a meeting of Group of Eight finance ministers. The euro slipped to $1.4087, down from $1.4170 in Thursday's North American trading. The dollar rose to 97.94 yen, up from 97.38 yen Thursday. Finance ministers from the G8 nations meet Friday and Saturday in the southern Italian city of Lecce as they attempt to lay groundwork for the meeting of G8 heads of state at their summit next month. See G8 preview. The dollar and yen were on track for weekly losses against the antipodean currencies -- the Australian and New Zealand dollars -- as investors' risk appetite perked up, making riskier, higher-yielding currencies more appealing. See Asia Markets. Risk aversion faded after Japanese Finance Minister Kaoru Yosano said his government is confident about the outlook for U.S. Treasurys, signaling the second-biggest foreign holder of the securities will keep buying them, according to a Bloomberg News report Friday. "We have complete trust in the fact that the U.S. views its strong-dollar policy as fundamental," Yosano said in an interview in Tokyo on June 10 before attending the G8 meeting. "So our trust in U.S. Treasuries is absolutely unshakable." Data released in China on Friday also gave risk appetite a lift. Growth in industrial production, along with a rise in retail sales and bank lending for the month of May, offered further signs that an economic recovery is underway. See full story on China data.
yes it seems profit taking and shake out today before repositioning for next week . (strong dollar is one excuse )
we just hit a low of 70.80 and are dropping I am buying at 70.55 and will be adding buys at $1 intervals for long term holding target being $76 Stop being $67
First leg would be liquidation and profit taking. Funds will book their profits and speculate that this price is too high for a long position. Later in the day investment flows from foreign funds would come in because oil at $70 is too low. With geopolitical concerns and bullish news all around buying will take place which will push price to $74 BTW I really enjoyed last couple of days where MMs and huge funds were brought down to their knees by these foreign investment inflows. Anyone with a lil experience of VSA could see how these big players were trying to drop the market and hunt the stops but everytime they tried sheer inflow of long only inflows caused the price to shoot up.
are we going to close around 72.75 that is 75 cents from current price ? any thoughts bullish : consumer sentiment report bullish: china manf. numbers bearish : EURO and profit taking
Afternoon ladies, whats oil currently trading at please?? Because ETX phoned me and told me that they have given me my own 'personal account manager' for free, (not sure why they have done this as i didnt ask for one and would never ever trust having anyone else like a broker involved in my trades in anyway anyways)!! Lol But they were very very friendly on the phone and asked how i was, how my new job was going, and if i was going to start posting on here again soon when i restarted trading more. I told them that i was gna restart trading in a few months after i had sotred out some outstanding big unpaid bills that i currently have, but so it would probs be 2 t 3months before i had enough spare cash, after my normal month living expenses, to start trading again. However a few days ago i got an email from them saying they have decided to give me a free £100 into my trading account to give me a helping boost and get me trading n posting again. So from monday im going to be monitoring the market and trying to assess the perfect place for me to enter my sell trade on oil. (It will have to be entered after 7.30pm as i dont get back from work till then) But il be posting on here in the evenings.
Im also feelinge extremely happy and alot ore stable as i foundout a few days ago while i was at my fmaily house looking through my dads filing cabinet for something, that there was folder with my name on it under the 'childrens savings accounts' section. I looked in it and since 1996 my dad has been paying £125 per month into a private pension fund for me, And since 2005 has been paying £1,000 per year into a 'premium bonds fund' for me. :eek: :eek: So in total i now have £4,546 cash in my premium bonds account, which i can withdraw at any time to my banka ccount in just 8days. +That pension fund,i could withdraw form it at anytime if i wanted to, however if i leave it till 2054, when i retire they will pay me £116,500 either as lump sum, or over a 25year time period. (That will be in addition to the normal state pension that im goig to make sure i still collect, and in addition to whatever pension my final employers put me on). hehe SO i am, and always have been filthy rich without even knowing about it!!! :eek: And so i will be able to get my operation in sepetmber with the £4,000, which has made me feel extremely happy.