InvestMacro Forex News

April 12, 2012

ForexCT’s Afternoon Market Report for 12 April

Video courtesy of ForexCT – A leading Australian forex broker, liscensed by the Australian Securities & Investments Commission, offers the MetaTrader4 and PROfit Platform to retail traders. Other services include Segregated Accounts, Trading workshops, Tutorials, and Commodities trading.

April 12, 2012

EUR Stages Slight Recovery, US Data Set for Today

Source: ForexYard

The euro saw mild upward movement during yesterday’s trading session, as gains in stocks drove investors toward riskier assets. That being said, analysts are warning that debt worries in Spain and Portugal still have the potential to negatively impact the common currency in the coming days. Today, a batch of US fundamental data is forecasted to generate market volatility. Traders will want to pay attention to this week’s Unemployment Claims as well as the Trade Balance and PPI figures, all scheduled for 12:30 GMT. Positive news may help the USD recoup some of its recent losses.

Economic News

USD – Dollar Extends Losses vs. Riskier Currencies

The US dollar extended losses against its riskier currency rivals during yesterday’s session, including the euro and British pound. The EUR/USD was up some 90 pips for the day, reaching as high as 1.3155 before staging a downward correction. The pair eventually stabilized around 1.3120. The GBP/USD was up over 80 pips during mid-day trading, reaching as high as 1.5937. Against the Japanese yen the dollar saw slight upward movement, going as high as 80.94, but remained near its recent one-month low for most of the day.

Turning to today, traders will want to note the results of the US Unemployment Claims, Trade Balance and PPI figures, all scheduled to be released at 12:30 GMT. All three indicators are forecasted to show growth in the US economy, which if true, could help the USD rebound from its recent bearish trend. Of course, if any of the indicators come in significantly below their expected levels, the dollar could continue the downward trajectory it began following last week’s disappointing Non-Farm Payrolls figure.

EUR – Euro Sees Mild Bullish Movement

A slow news day yesterday led to few surprises in the marketplace. Still, the euro saw mild bullish movement against several of its main currency rivals, as gains in international stocks led to some risk taking. In addition to the gains made by the EUR/USD, the EUR/JPY was up about 80 pips for the day. The pair reached as high as 106.36 during the afternoon session. Upward movement was also seen vs. the Canadian dollar. The EUR/CAD was trading at 1.3170 for much of the day, up close to 50 pips for the day.

Turning to today, analysts are warning that debt worries out of the euro-zone are likely to continue weighing down on the common currency, and may result in the euro reversing yesterday’s upward movement. In addition, should any of the US news set to be released today signal increased momentum in the US economic recovery, the EUR/USD may turn bearish as we begin to close out the week.

JPY – Yen Reverses Some of its Recent Gains

While the Japanese yen remained close to a recent one-month high vs. the US dollar during trading yesterday, the currency saw downward movement against several of its other rivals throughout the day. The AUD/JPY, which saw significant bearish activity earlier in the week, was up over 100 pips by the afternoon session. In addition, the CHF/JPY was up close to 80 pips for the day, reaching as high as 88.68.

Today, investors will be carefully monitoring a batch of US fundamental news. Should any of the indicators show growth in the US economy, the USD/JPY may turn bullish during the afternoon session. Additionally, any positive news could result in increased risk taking in the marketplace, in which case higher yielding assets like the AUD and GBP could move up vs. the yen.

Crude Oil –

Crude oil remained below the $102 a barrel level throughout yesterday’s trading session, as poor US fundamentals, combined with a reduction in tensions between Iran and the West drove the price of the commodity lower. A decrease in demand for oil in the US, highlighted by a surge in crude oil inventories and disappointing employment data, have caused prices to plummet in recent days.

Furthermore, with Iran scheduled to begin a new round of negotiations with the West regarding its disputed nuclear program, fears that the conflict could escalate militarily have subsided for the time being. The news has caused supply side fears to go down which has resulted in a decrease in prices.

Turning to today, oil traders will want to pay attention to the weekly US Unemployment Claims figure. Positive news may help restore faith in the US economic recovery and could result in some risk taking in the marketplace, in which case oil could turn bullish.

Technical News

EUR/USD

Long term technical indicators show that this pair is trading in neutral territory at the moment, meaning that no definitive direction is known at this time. Traders may want to take a wait and see approach, as a clearer picture is likely to present itself in the near future.

GBP/USD

The weekly chart’s Williams Percent Range is currently at -20. Typically, this is taken as a sign that the pair is in overbought territory and could see a downward correction. Traders may want to go short in their positions, as bearish movement could occur in the near future.

USD/JPY

Technical indicators on the daily chart show that the USD/JPY has entered the oversold territory and may see an upward correction in the near future. These include the Slow Stochastic, which has formed a bullish cross, and the Williams Percent Range, which is currently at -90. Going long may be the wise choice for this pair.

USD/CHF

Technical indicators on both the daily and weekly charts are showing that this pair is range trading at the moment, meaning that no definitive trend is known. Taking a wait and see approach for this pair may be a wise choice, as a clearer picture is likely to present itself.

The Wild Card

EUR/SEK

A bearish cross on the daily chart’s Slow Stochastic indicates that this pair may see a downward correction in the near future. This theory is supported by the Williams Percent Range on the same chart, which is at -20. Forex traders may want to go short in their positions ahead of a possible bearish move.

Forex Market Analysis provided by ForexYard.

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.

April 12, 2012

Euro Strengthens Ahead of Italian Auction

By TraderVox.com

Tradervox (Dublin) – The euro has strengthened against the yen as investors prepare to participate in the Italian bond auction that is eagerly being watched by analysts as well as forex traders. Market analysts are claiming that if this bond auction fails to satisfy market expectations, there is like to be a move from the euro.

The euro has, however, increased against the yen as Spanish bonds increased after a European Central Bank member indicated that it might buy the nation’s debt to reduce the nation’s borrowing cost. Further, the increase of the euro was as a result of comments from Bank of Japan Governor indicating that the bank is pursuing a “powerful easing” process to avoid deflation.

The 17-nation currency gained against the dollar after Italy sold 11 billion Euros worth of bills while the yen weakened against 16 major currencies. The dollar declined as the Fed prepared to release the Beige Book regional Business survey. According to Brian Kim who is a Currency Strategist at Royal Bank of Scotland Group Plc in Stamford, Connecticut, the euro seems to recover as the sovereign debt risk eases but indicated that the market is concerned about the peripheral spread which is widening.

The euro had fallen against the yen, but it has advanced slightly by 0.5 percent to settle at 106.04 yesterday during the New York session. It had earlier fallen to 105.45 yen which is the lowest it has been since February 22. The 17-nation currency advanced by 0.2 percent against the dollar to trade at $1.3110 after it had declined to 1.3033 on Monday this is the lowest it has been since March 15.

Positive signs from Europe are encouraging the uptake of the euro as investors speculate that the ECB will do everything possible to protect Italy and Spain debts. The performance of Spain and Italy is being keenly followed by traders for signs of debt crisis.

Disclaimer
Tradervox.com is not giving advice nor is qualified or licensed to provide financial advice. You must seek guidance from your personal advisors before acting on this information. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. Opinions expressed at Tradervox.com are those of the individual authors and do not necessarily represent the opinion of Tradervox.com or its management.

Article provided by TraderVox.com
Tradervox.com is a Forex News Portal that provides real-time news and analysis relating to the Currency Markets.
News and analysis are produced throughout the day by our in-house staff.
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April 12, 2012

Bank of Japan to Pursue Easing

By TraderVox.com

Tradervox (Dublin) – The Bank of Japan had earlier this week avoided discussion on the additional stimulus issue making the market to lean on speculations that the BOJ was not pursuing the stimulus efforts. However, the Bank of Japan Governor, Masaaki Shirikawa came out strongly yesterday claiming that the BOJ will “pursue powerful easing” to avoid deflation. This led the yen to fall for the second consecutive day against the dollar and the euro.

The statement from the Governor came hours after top currency officials in Japan warned that delays in efforts to improve the country’s finances would hurt the country’s economy. Japan’s Prime Minister is grappling with the biggest public debt burden in the world and quick measures should be taken to ease the situation. Strategists had warned that last year’s strengthening of the yen was not helpful to the economy hence the BOJ needed to be seen to be ready to do what is necessary to ensure that the yen was kept weak against major currencies.

This seemed to spur the BOJ governor to act, and after his remarks the yen fell against 16 major currencies. This also came as the Federal Reserve Vice Chairman Janet Yellen indicated that the US interest rate will be kept low, which deterred the demand for safe haven currencies. The euro increased against the yen as investors prepare to buy Italy bonds amounting to 5 billion Euros. The Australian dollar rose against the yen after a report showed that employment rose by more than it had been anticipated.

Geoff Kendrick when asked to comment on the yen stated that the market is keen on the BOJ and there is strong expectation for easing. He also stated that people are looking at the Italian auction and if it does not live up to expectation the euro will be sold en masse.

The yen weakened against the euro by 0.3 percent to trade at 106.34 yen per euro while it declined by 0.3 percent against the US dollar to exchange at 81.09 yen per dollar.

April 12, 2012

The Pound Advanced as Retail Sales Increased

By TraderVox.com

Tradervox (Dublin) – The sterling pound overturned its five-day decline against the yen and advanced the most against the dollar after a report released yesterday showed that the UK retail sales increased in March. The sales report showed that the sales increased by 1.3 percent from the figure registered a year before. This came after another report released in March showed that the UK sales had decreased by 0.3 during the month of February. The positive report boosted demand for UK assets hence boosting demand for the sterling pound.

After the report was released, Neil Jones, the Head of European Hedge-Fund Sales at Mizuho Corporate Bank Ltd, said that the sterling pound will offer a safe haven when the global markets regains confidence adding that the UK economy has shown some recovery signs despite the warning by Fitch and Moody’s. The report by the British Retail Consortium boosted the pound against major currencies. The pound strengthened 0.7 in the first quarter of the year.

The pound strengthened 0.3 percent against the dollar to trade at $1.5909 during the London session; it had earlier climbed to as high as 0.5 percent, which is the most it has been since March 30. The sterling also gained against the yen by 0.6 percent to 128.72 yen while it remained unchanged against the euro trading at 82.86 pence per euro.

However, currency strategists are claiming that it will be difficult for the pound to extend gains beyond $1.59. Therefore, a cap of $1.60 would be good but extending beyond this would require something positively dramatic to happen in the UK economy. Data from the US and speculation of third round of quantitative easing in US will play a big role in balancing the GBP/USD pair at lower $1.59.

Investors will be keeping a keen eye on the developments in the UK economy as they search for signs of recovery. The efforts done by the Bank of England will also be put to test as traders wait for results. Investors will also be looking at the Producer price index set to be released this week.

April 12, 2012

Central Bank News Link List – 12 April 2012

By Central Bank News
Here's today's Central Bank News link list, click through if you missed the previous central bank news link list. Remember, if you want to submit links for inclusion in the daily link list, just email them through to us or post them in the comments section below.

Bank Indonesia Holds Rate at 5.75% (Business Week)
Reserve Bank of Fiji Holds Rate at 0.50% (The Fiji Times)
Croatia Central Bank Cuts RRR 150bps to 13.50% (Reuters)
State Bank of Vietnam reduces deposit rate cap to 12 percent (Tuoi Tre News)
ECB board member hints at bond purchases (Financial Times)
Central banks speakers rule the roost today (FX Street)
Russian c.bank confirms sale of Sberbank stake (The Moscow Times)
Aussie unions challenge RBA policy goals (Business Spectator)
Fact and fiction in Nigeria's central bank reserves (Diverging Markets)

Source: www.CentralBankNews.info

April 11, 2012

When is the Best Time to Buy Stocks?

By MoneyMorning.com.au

As each of our editors here at Port Phillip Publishing arrived this morning, we asked them just that question – when is the best time to buy stocks? In fact, we asked everybody in the office.

Here are some of the answers:

‘Stuff the Eurozone, stuff the bailouts, stuff the global debt crisis… NONE OF IT MATTERS’ – Kris Sayce (Australian Small-Cap Investigator)

Kris answered our question in his recent video (he’s away today, so we couldn’t ask our question in person). He doesn’t mean to sound flippant when he says you shouldn’t worry about what’s going on in the world. These are all serious things. But his point is simple; in the small-cap market, it really doesn’t matter.

If you’re speculating on a tiny firm attempting to find oil, a gas explorer scoping the Northern Territory for a mammoth new gas reserve, or an innovator trying to launch an as yet unproven technology (which promises to be a breakthrough), the risk is that you will lose all your stake if that company fails. BUT, if it succeeds, your investment will multiply many times over in almost any market.

For Kris, it’s more about judging whether the potential future rewards are WORTH taking on the risk. For example, one of the oil stocks he’s very excited about today trades for less than 5 cents a share. Right now, it’s attempting to tap East Africa’s vast oil reserves (there’s a reported 71 billion untapped barrels underground).

If this company strikes it lucky and everything goes to plan, Kris believes this stock could climb to $1 or more. But that doesn’t mean you should pay 20, 30 or 40 cents for this stock. Why? Because the more you pay, the more you’re risking and the lower your eventual return.

So what’s the general risk/reward ratio in the small-cap market like right now? ‘Never better’ says Kris. ‘It’s the best time to buy stocks in three years, since the lows of 2009. Right now nearly half the stocks on the entire Aussie market trade for less than 20 cents. Stocks that only one year ago were trading for 80 or 90 cents are trading for less than 20! It’s a punter’s dream.’

Kris’ brand new video report is on this very topic. With all the doom and gloom coming from our other editors, it makes for refreshing viewing. When Dan first saw it yesterday morning he said it was like being slapped in the face by a wet gorilla! ‘I wasn’t expecting it,‘ said Dan. ‘But he certainly got my attention.‘ Take a look yourself. If Kris is right, gains of between 100% and 1,566% are up for grabs. You can watch his brand new presentation, right here.

‘When stocks are cheap’ – Greg Canavan (Sound Money. Sound Investments.)

Greg’s answer, via email from Sydney, was extremely predictable, but it’s also the most difficult to actually put to work. It’s the answer that people like Warren Buffett might give. The idea is that a careful analyst can come up with a valuation for a stock. Then compare your valuation to the market price. If the price is higher than the value of the share, sell it. If the price is lower, buy it.

There are plenty of caveats, qualifications, ifs and buts. But, what’s more interesting is how the valuation is worked out. The concept probably seems straightforward – a company is worth something and you just have to figure out what it is – but actually figuring out what a company is worth is incredibly difficult. How do you price risk? What sort of margin of safety (the gap between stock prices and true value) do you need? How much will the business grow?

Luckily for SMSI subscribers, Greg does the hard work for them.

‘When it makes you nauseous’ – Dan Denning (Australian Wealth Gameplan):

Ever helpful, Dan has come up with another perplexing answer to a straightforward question. He probably means something like this: The time to buy is when your emotions are telling you it’s a bad idea. Another way of putting this is how Callum, Managing Editor of the Daily Reckoning Australia, answered the question. He quoted Baron Rothschild’s famous maxim, ‘the time to buy is when blood is in the streets.’ Seen Greece lately?

Based on the same idea – that emotions are the investor’s fatal flaw – is this answer:

‘When Aristotle tells you to’ – Murray Dawes (Slipstream Trader)

Murray has done a pretty good job picking optimal buying points over the last two-and-a-half years. If you’d followed his trades over that time you could be up 114%. That’s in a falling market, and without using leverage.

Murray revealed his secret to trading a flat or falling market last week. And he’s revealed the remarkable place where he got it from. Rather than reading about it here, why not watch this video of Murray explaining his unique trading methodology.

It was inspired by Aristotle. And it’s based around a dead-simple principle: what if you could detect mistakes made by OTHER investors in price charts… and trade AGAINST these mistakes for consistent profits? It’s an ideal method for a frustrating and range-bound market. To hear more about it – and the $500,000 event that made him go looking for trading advice in such an odd place – click here.

‘When emerging countries are emerging, exploration companies are exploring and central bankers are printing’ – Dr. Alex Cowie (Diggers and Drillers)

Dr. Cowie is working from home today, so we had to make a best guess at what he might say. And his answer would probably be that there are always opportunities in resources. You’d think a portfolio restricted to resource stocks would be quite limited in its reach.

Not so. There are companies that serve as macroeconomic plays on long-term commodity trends, companies that are calculated punts – like those Kris Sayce favours – and companies that are steady earners. The time to buy each of these differs depending on what kind of stock they are.

But what makes commodities and the companies that are looking for, digging up and selling them, so worthwhile in times like these are their tangibility. They’re involved in something real. Something that doesn’t change its nature. In uncertain times, when everything else is changing, including the value of money, tying yourself to a rock can be a good idea.

So Who’s Got it Right?

Our favourite answer we got this morning was from Slipstream Trader’s Product Manager Jess. Her answer to the question ‘when is the best time to buy stocks’ was ‘in winter’. When pressed as to the nature of her remarkable stock investment philosophy, she replied something about keeping your feet warm.

By far the most enlightened answer came from our Compliance Officer Tristan. He said, ‘it depends what you’re buying for’. Gold buyers should be familiar with this thinking. Gold is about insurance for extreme events and for preservation of wealth in the face of steady inflation.

That means it’s a long-term strategy, not a short-term trade. The price you buy at matters far less. That’s why many of the world’s biggest gold advocates buy each month or quarter regardless of price. At the opposite end to this thinking, we have short-term traders who care only about entry and exit prices.

What about our answer? When should you really buy? Well, all of the above answers are undeniably true. But each of them comes into their own at different times. And for different asset classes. (The most common answer to my question was ‘buy what?’) For example, it’s not much use trying to value a stock that you intend to jump in and out of for a quick buck.

By the time you’ve done the analysis properly, the opportunity will be gone. And while Bernanke, Draghi, King and their fellow central bankers are spewing cash into the world, normal market behaviour is suspended anyway. But commodity stocks can ride the liquidity wave particularly well.

In times like these, our answer on when to buy is one we explained a few weeks ago. It’s called the perception gap. You buy when people perceive things to be worse than they are and sell when people perceive them to be better than they are.

So find the asset so beaten down nobody is bothering to criticise it anymore… and buy it.

Nick Hubble
Editor, Money Morning

The Conference of the Year “After America” DVD

Why You MUST Speculate

Disruptive Technology Stocks For Smart Small-Cap Investors

When is the Best Time to Buy Stocks?

April 11, 2012

The Small Cap Effect

By MoneyMorning.com.au

Often times in the small-cap market you’ll see companies rapidly spike on the back of a rumour and get issued a speeding ticket.

Sometimes it’s a case of investors buying the rumour ahead of the news. But not always.

But there is a benefit to this share price surge – liquidity.

The more liquid a stock is the better the chance you have of being able to buy shares in it at the price you want – and the less volatile the price will be as other investors buy and sell around you.

In our view, this sort of price movement can be the beginning of the share price being “de-risked”. That term is unique to commodity projects. When a resource is converted into a reserve (proved up by reliable drilling results) the project becomes more certain.

The increased certainty usually results in the share price going up.

This is all part of what happens when a share price is “de-risked”. And it’s not just resources companies.

It can happen to any small company when it starts to hit its straps. It’s what’s known as the small-cap effect. The diagram below will help you see what I mean:

What you see is like the chart DNA of a successful small-cap company. Granted, not every winner goes through this predictable pattern. But many do. When you see the pattern forming, it can help you time your entry into a share at the ideal time for maximum profits.

Please note, it’s not essential that you buy a stock the moment it hits the bottom of a range – although if you want to take that kind of punt you can.

Most of the time, what you’re looking for – and what we try to do in Australian Small-Cap Investigator each month – is buy into a stock at the beginning of an uptrend… when it’s in the “buying zone”. Any buying zone will do, although some moves are bigger than others.

But the small-cap effect isn’t a once-off event for a stock. It can happen in waves to the same stock many times over. For instance a stock will usually rally on the back of an upbeat announcement – such as a resource discovery.

Next the share price may fall back as the initial excitement wanes. But because the discovery has taken the stock to a new level, it’s not often the stock price will fall all the way back.

From this point the stock can tread water as investors wait for the next exciting news. This period can last days, weeks, months or even years.

But once the next news breaks, the stock can take off again… and quick.

For the most part you want to get in early, before the real price movement occurs.

Kris Sayce
Editor, Australian Small Cap Investigator

From the Archives…

Disruptive Technology Stocks For Smart Small-Cap Investors
2012-04-06 – Kris Sayce

ASX 200: This Market is Toast
2012-04-05 – Murray Dawes

Why Every Bank Will Soon Be a Tax Collector for Every Government Everywhere
2012-04-04 – Merryn Somerset Webb

Not Even Saudi Arabia Can Save Us From High Oil Prices
2012-04-03 – Jason Simpkins

Good News For Oil and Resource Investors
2012-04-02 – Dr. Alex Cowie

The Small Cap Effect

April 11, 2012

The Turkish Economy: Knocking At The Door

By MoneyMorning.com.au

Historically, very good gains have been made in Turkish stocks during periods of political unrest. While not in the same category as Thailand, Turkey does have a reputation for instability when it comes to politics.

One of the main reasons for this is the struggle between those with a religious agenda and those with a secular one. Throw in a very active military sworn to protect Turkey’s secular constitution and the possibility for volatility exists.

Turkey, like many other emerging markets, has a massive black market for goods and services. Smuggling is a popular profession in a country that borders so many that are faced with internal restrictions and lack of adequate supply chains.

Turkey, because of its strategic location, is also a key player in the energy business – not from a production point of view, but rather as a location for major pipelines. Many of the countries around Turkey, especially Iran and Iraq, are major energy producers in the world.

Internally, more than 30 percent of the population is dependent on agriculture. Turkey is a regional breadbasket and the country has vast arable land. The country still faces major unemployment problems, as do most countries in Europe.

More than 12 percent of the population is regarded as unemployed. This would be less of an issue were it not for the fact that the economy grew by more than 8 percent in 2010 and was on track for similar gains in 2011.

With that kind of growth, job creation should be significant. It’s not. Part of the problem is that Turkey’s informal market leads to skewed statistics. Those who work for cash, and there are many hundreds of thousands who do, can at the same time bleed the government for benefits.

One of Turkey’s greatest weaknesses of the past has been poor fiscal management. Tax collection is nearly impossible in a country where tax evasion is a pastime, something Turkey and Greece have in common.

The government is always strapped for cash and this has led to massive deficit issues in the past and significant devaluation of its currency, the lira, to make up for its debtor status.

The current government headed by Prime Minister Recep Erdogan has been in power since 2003 and is entering its third term. Under Erdogan, Turkey has deregulated the economy, privatized many state enterprises, and attracted foreign investment through a climate of economic certainty.

The result has been 26 straight quarters of growth through 2011; foreign reserves of US$90 billion versus just over $20 billion in 1992; inflation of just under 6 percent, down from 40 percent a few years ago; and debt to GDP of less than 40 percent compared with 74 percent in 2002.

Erdogan is a religious man who embraces his faith publicly, a rarity in Turkish politics. Yet, despite his constant efforts to push Turkey from its secular position and his friction with the military, he continues to receive strong popular support for his economic policies and his handling of Turkey’s other problem.

The other problem is Turkey’s constant struggle against the Kurdistan Workers’ Party (PKK), a group that claims to represent the displaced Kurdish population. The Kurds have been seeking a separate state in what they consider their ancestral homeland in southeast Turkey and northern Iraq.

They speak a different language, follow different customs, and have been involved in numerous attacks on military and civilian targets. In the past 25 years the conflict has resulted in more than 40,000 deaths, mainly on the Kurdish side.

Erdogan has made strides (one of the requirements for entering the EU) in recognizing the Kurds through actions such as restoring Kurdish names to several towns, allowing Kurds to use their language in the local political arena, and trying to maintain good relations between the two ethnic groups.

But, as recently as late 2011, Turkish planes bombarded Kurdish rebel strongholds in northern Iraq after insurgencies into Turkey by the PKK. This situation, while better than in the past, is still quite tenuous and could damage the country and presidency were it to escalate.

Local investment in Turkey should be restricted to Istanbul and the Turkish coast. These are the areas with greatest development potential for tourism, a huge money earner for Turkey…

Turkey is solidly a Tier 1 emerging market. This means that there is a very little likelihood of it turning back economically. It has an established market system, good infrastructure, an established political system, and a population that is used to being relatively independent. While its secular status has been challenged in recent years, there is no indication that Turkey will not adhere to democratic principles regardless of who is in power. It is a country often overlooked by investors, yet it offers some of the best visibility in the region.

Karim Rahemtulla

Contributing Writer, Money Morning

Publisher’s Note: This is an extract from Karim Rahemtulla’s just-released book, Where in the World Should I Invest?

From the Archives…

Disruptive Technology Stocks For Smart Small-Cap Investors
2012-04-06 – Kris Sayce

ASX 200: This Market is Toast
2012-04-05 – Murray Dawes

Why Every Bank Will Soon Be a Tax Collector for Every Government Everywhere
2012-04-04 – Merryn Somerset Webb

Not Even Saudi Arabia Can Save Us From High Oil Prices
2012-04-03 – Jason Simpkins

Good News For Oil and Resource Investors
2012-04-02 – Dr. Alex Cowie

The Turkish Economy: Knocking At The Door

April 11, 2012

Crude Oil Gains After Modest Inventories Report

Source: ForexYard

The price of crude oil was boosted during Wednesday’s trading after a slightly positive crude oil inventories report.The moderate gains come after several days of losses which saw the commodity finish Tuesday’s trading at its lowest price since February. Crude’s gains were also largely due to better then expected earnings from Alcoa Inc.

Crude appreciated 1.7 percent to reach the $102.70 mark after the latest inventories report which showed improved results in comparison to previous figures . Wednesday’s performance saw the first gains made by the commodity in three days after slipping from last week.

There are still a number of financial reports due for release during Thursday and Friday which could have an impact on both the commodity and currency markets.

Forex Market Analysis provided by ForexYard.