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Gold rises as dollar weakens ahead of U.S. Fed meeting

Gold rises as dollar weakens ahead of U.S. Fed meeting,

Gold Spikes To New records As Dollar, Bond Yields Dive

Gold inches higher as dollar loses ground ahead of Fed meeting

Gold prices edged higher on Tuesday as the dollar pulled back from multiweek highs ahead of the US Federal Reserve’s two-day monetary policy meeting.

Spot gold was up 0.2% at $1,341.38 as of 0344 GMT.

US gold futures also rose 0.2% to $1,345.20 an ounce.

“The overall sentiment in the gold markets is positive. There are expectations that the Fed will cut interest rates, which has weakened the dollar and remains a main driver for prices,” said Helen Lau, analyst, Argonaut Securities.

The dollar index against basket of major currencies was down 0.1% on Tuesday, making bullion cheaper for investors holding other currencies.

The dollar was somewhat weakened by the New York Fed’s business index showing a record decline in June to its weakest level in more than two and a half years.

At the current price rate, some fluctuations in gold prices are predicted as there are still some mixed views on the rate cut and some investors are cautious ahead of the Fed’s decision, Lau said.

The Fed’s two-day policy meeting starting later on Tuesday is the next major focus after markets have priced in more than two 25 basis-point rate cuts by year-end. That marks a sharp contrast to the Fed’s official forecast in March, which showed policymakers deemed the next move would be a hike.

The expectations of an interest cut have been steadily growing amid the raging US-China trade war, signs of the US economy losing momentum and pressure by President Trump to ease policy.

All these factors encouraged bullion’s appeal, with the precious metal gaining nearly 6% since touching its 2019 low of $1,265.85 in early May.

The US central bank is suspected to leave borrowing costs unchanged this time but probably lay the foundation for a rate cut later in 2019.

“We think that the Fed will not raise rates in June and with regards to policy wording, we could see a slightly less accommodative tone than what the market is expecting,” INTL FCStone analyst Edward Meir said in a note. “In which case the dollar could firm up somewhat further and perhaps pressure gold lower into its trading range.”

On the technical front, spot gold may break a support at $1,337 per ounce and fall to the next support at $1,324, according to Reuters technical analyst Wang Tao.

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Goldman Backs down Perceives Rate Cuts In July And September

We now expect cuts in July and September, as well as an end to balance sheet runoff in July. Our base case is for moves in 25bp increments, but a 50bp cut is possible.

The need to get ahead of the bond market could be another reason to push Fed officials toward a bigger reduction in rates, economists including Jan Hatzius wrote in a note dated June 19. The firm had previously seen no change in rates for this year.

Stock Futures Not Affected By The Mueller Report

Trump’s legal affairs have been a minor insertion in the list of market troubles that have periodically arisen to prevented a stock bull market that entered its 11th year in early March. Others remain, including the president’s trade war with China, worries about Federal Reserve policy and signs growth is slowing globally.

Investors were divided on whether the latest news would fuel lasting gains.

“ ”

Said Kristina Hooper, chief global market strategist at Invesco: “I don’t think the Mueller report ever really mattered to markets. If anything, it is a slight positive as it illuminates one contributor to economic policy uncertainty — but, to be clear, that is just one of many contributors to uncertainty.”

Trump’s hyping of the China deal failed to boost the market on Friday where that had worked repeatedly in the past. So, maybe the market is ready to be less driven by Trump news and more by economic reality.”

Said Art Hogan, the chief market strategist at National Holdings Corp.: “The Mueller report has been a potential headwind for this market for two years. The report has lived in the bizarre world of always being right around the corner. The potential for the findings of the report to be disruptive to markets have always been a given.”

Stocks have had an explosive run since Trump’s election in November 2016, returning 37 percent with dividends for an annualized rate that is roughly double the historical average. The president’s overhaul of corporate taxes contributed to one of the best years for earnings since the bull market began, with profits for S&P 500 companies rising more than 22 percent in 2018.

Trump celebrated Sunday’s news. “It’s a shame that our country had to go through this,” Trump told reporters before he departed Palm Beach, Florida, to return to the White House. He called Mueller’s probe an “illegal take-down that failed.”

At the same time, the equity benchmark plunged 14 percent in its last full calendar quarter, the worst since 2011, and price turbulence as measured by the Cboe Volatility Index currently sits about 10 percent above its five-year average. Of particular concern to stock bulls was last week’s reception to more dovish emanations from the Federal Reserve. The S&P 500 ended down for the week and had its biggest drop in three months on Friday.

“Th Regardless, Washington is mired in a state of political gridlock which won’t be resolved until the next presidential election.”

Democratic lawmakers have commanded Mueller’s full report as well as the evidence so they can continue their own investigations.

“Taipei stock market” Fubon VIX bursts, with more than 130,000 transactions in half an hour

The US S&P 500 VIX futures index rose nearly 11% on Friday, and it continued to rise in the morning (25). The Fubon VIX (00677U) ETF, which is linked by Taiwan stocks, opened up and jumped more than 7%. In the morning, the highest price reached 6.28 yuan. Half an hour before the opening, the volume of the transaction broke out more than 130,000 transactions . It was more than half of the total volume of more than 250,000 transactions on Friday.

As of 9:40 in the morning, Fubon VIX’s share price was around 6.22 yuan, up 6.32%, and the volume of trading has burst out more than 145,000. The price fluctuated within the price range of 0.09 yuan. There have been differences. The investors who bought in the low-end last week have profited today, but there are also empty hands to enter the market today.

Gold remains unchanged around 1254-6 crude oil continues dropping to 47

2018-12-19 14:16:23 and News Network
  Yesterday, the gold market did not continue, it is still a range of shocks, fluctuations around the 1245-50 range, but the crude oil is very fierce, the US plate fell again, the lowest to 46 first-line, a single-day drop of 8%, really makes people happy.

  In fact, most people like trends, but most people are exploding in the trend.

  Such as gold, continuous shocks, fluctuations in the range, small price fluctuations, and high repeatability, these months, it is difficult to break the position in gold, but crude oil, I think many people will have headaches. If you are not careful, you will return to liberation one night.

  Often talk about the trend, in the trend, don’t guess the bottom, but many people can’t stop the temptation of price, think that the decline is too big, the chance of bargain-hunting is coming. Or the daily line receives the yin, the turn is yang, this is a kind of speculation, forgetting that the bigger the decline, the weaker the trend, and the greater the decline, the market is the real short.

  For more than a month, in the group of students, almost every day, the trend of crude oil is recommended to be weak, and crude oil is used as a symbol of learning. In order to move to profit, the greater strength in the downturn is not the key to changing direction, but only to fix short positions.

  On these two days, we will summarize the points for you, and we must remember:

  1, the low position in the weak sideways, must not stop falling, but the weak consolidation, the bottom of the test is not supported, but the lack of support, the probability of breaking high.

  2, the weak Bolian Yin, this is the most basic signal, the first Yin after the Yang Xian, must continue to fall.

  3, in the fall, when there is a large amount of counter-pumping, do not think that it is bottoming out, the anti-pumping force is big, just a short correction.

  4, the daily line continues to fall, is a vertical decline, this trend, there will be a second wave of decline, the rebound is also empty.

  The gold market is different, continuous shocks, interval operation, and low price fluctuations, so in this market, give you a summary:

  1, do not chase the single, chase the single no profit.

  2, do not believe in breakthroughs, breakthroughs do not continue.

  3, try to find a double top and double bottom trading, relatively safe.

  4, try to refer to the front strength, to layout the trend.

  So, you will understand that gold is slow and volatile, and crude oil is falling.

  I remember a few days ago, I summed up the sentence: the inexhaustible crude oil, the gold that can’t afford it. Probably describes the current state.

  So today, gold continues to see more shocks.

Gold looks stable around 1254-6 unchanged crude oil 47 continues slipping.

  Today we will take 4 hours to look at it.

  1, yesterday, the price of the second test 1245 back pumping, forming double bottom support, this is the lifeline and watershed of today’s bulls.

  2, the price encountered resistance in the early high point around 1250 and sideways shocks.

  3, early detection of the bottom, continue to consolidate in the 1250 line.

  Today’s market is obviously relatively simple. It is difficult to suppress the retreat and the rise will not be withdrawn.

  In other words, the ups and downs are from now on.

  Yesterday evening we suggested 1247.5-48 more than one, and today we can continue to hold, the target 1255-6 line.

  In addition, the short position is also recommended in more than 1248, breaking 1244 damage, the target remains unchanged.

  In addition, if there is no breakthrough in the suppression of the day, then retreat again, do not consider more than 1244-5, this position is suppressed, it is difficult to rise.

  In terms of short selling, we need to wait for the evening. The daily line has been relying on the moving averages to rise slowly. We are worried that there will be an outbreak and we will not consider it in the day.

  On the crude side, today is the second day after the bottom, and the daily line has fallen for three consecutive days.

  Note that the bottom is instead the short release, which will speed up the arrival of the bottom. Usually 2-3 days after falling below the previous low, you can’t hit the air.

  According to the current form, the air can be used for up to 1-2 days, and the crude oil will have a back pumping.

  Therefore, this needs to remind everyone that there is no problem in the air, but we must not die, but we must take a good stop loss and rationally bearish.

  Crude oil still has two points today:

  1,47 line small, 47.4 plus, loss 47.7, target 45.80-60.

  2, see if the morning breaks the bottom, the bottom is similar to yesterday’s form, and you can choose the radical direct layout in the afternoon.

NETELLER enables conversion to digital currencies

NETELLER enables conversion of more than twenty standard currencies to digital currencies within its system, solving the necessity to use online exchanges.

Digital wallet and online payment provider NETELLER is now delivering its customers buying and selling directly digital currencies, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin.

The interesting feature is NETELLER’s task to offer exchange service of 28 fiat currencies to crypto coins using its system, imaginably avoiding the currently troublesome process of using crypto exchanges, or peer-to-peer platforms, or going to a bitcoin ATM, to acquire or dispose of funds.

How long will it take for the European banks’ monetary policy to normalize?

  On Thursday (September 13th), the European Central Bank (ECB) announced that it will maintain the three key interest rates unchanged. It will maintain a monthly debt purchase of 30 billion euros until the end of September 2018. It will end its purchase in December 2018 and will maintain The current key interest rate remains unchanged until at least the summer of 2019.

  At the same time, the European Central Bank lowered its GDP growth forecast for 2018 and 2019, maintaining inflation expectations for the next three years. It is expected that the GDP growth rate of the Eurozone in 2018 will be 2%, the previous value is 2.1%; the GDP growth rate is expected to be 1.8% in 2019, and the previous value is 1.9%.

  In addition, European Central Bank President Mario Draghi said that the downside of economic expectations is due to weak external demand, and the euro zone’s economic growth has been higher than the potential growth rate for some time. At present, domestic cost pressures are constantly tiring, and protectionism and emerging market risks are prominent.

  However, at the subsequent press conference, Draghi “changed his face” and unexpectedly released positive comments, expressing his willingness to watch the inflation outlook, saying that the uncertainty of the inflation outlook is declining, and inflation is moving closer to our goal, even if QE is over. Inflation can still move closer to 2%, and core inflation levels will rise before the end of the year.

  During Draghi’s press conference, the euro/ dollar reversed the previous decline, and the short-term sharp rise of 90 points, breaking the 1.17 mark for the first time on August 30.

  On Friday (September 14), Rabobank analysts pointed out that the European Central Bank (ECB) monetary policy normalization still has a long way to go. So the next risk is that when the next recession comes, the ECB has little room to act.

  The Dutch Cooperative Bank pointed out that if this is the case, it will depend on whether the fiscal policy at the time can stabilize the economy. At present, most countries in the Eurozone do not seem to have enough fiscal space to properly carry out this task, which may increase the impact of the next recession.

  At the same time, the bank’s analysts pointed out that the current eurozone debt ratio and budget balance show that compared with the pre-crisis 2007, the financial situation of the eurozone countries has not improved or even worse.

  In addition, the Dutch cooperative bank pointed out that given the current economic performance of the eurozone countries, it is now a buffer. Unfortunately, however, European fiscal rules are ineffective in forcing countries to significantly increase their savings during the boom.

Experts Claim The dollar will rise even higher!

Experts Claim The dollar will rise even higher! Recommended selling assets in Europe and emerging markets.

  Rob Citrone, a hedge fund manager and head of Discovery Capital Management, said in an interview with CNBC on Thursday that he believes the European market is brewing a bubble and investors should sell assets in the region.
  Citrone reiterated his concerns about the sustainability of Italian debt and populism in the region.

  He is also shorting Turkish assets and is bearish on the Mexican and South African markets. He said that in addition to India and Argentina, investors should “sell all out” of emerging market assets. He said that as the second largest economy in South America, the Argentine currency has depreciated by 50% this year, but although it has been hit, it is still “very attractive” for fund managers.
Citrone said that in the long run, the US trade tariffs are a “big problem” for the Chinese market. He said, “I think the market will see some rebound in the short term, but we believe that tariffs will come. This is not a short-term issue. ”Download the app Read this article for more in-depth coverage
  Citrone said that in the long run, the US trade tariffs are a “big problem” for the Chinese market. He said, “I think the market will see some rebound in the short term, but we believe that tariffs will come. This is not a short-term issue. ”

  Citrone insists that the dollar will strengthen and that he is optimistic about US assets. “We prefer the United States to the rest of the world,” he said. “This is the best place to invest in the world.”

Are CFDs taxable in the UK?

Investors trading contracts for difference in the UK are not exempt from capital gains tax
Capital Gains Tax is a tax on the profit when you sell an asset that has increased in value.
Capital Gain Taxes are paid on the sum of gains above an annual tax-free allowance.
basic rate Income Tax
The Tax rate is 20% on your gains from other chargeable assets