Ikon forex EUR/USD fell down sharply from the highest point of this trading session

[ikonforex]

Ikon forex "The average forex price of gold in 2011 would be at $1502 per ounce"

It is predicted that the average forex price for gold would be at 1502 US dollars per ounce in the year 2011, and that of the silver forex price would be at 36.25 US dollars per ounce.

MKS pointed out the elements which would push gold forex price to surge up by 27 percent in 2010 would continue to provide the support for gold forex price in 2011. The slumping down of USD and the rarely supply of sprinkle gold as well as the buying from institutions, added by the sovereign debt crisis in EU and tense situation in Korea peninsula all pushed gold forex price to surge up.

Forex analysts said the demand for gold of the forex investors and institutions would continue to increase in the next few months, and the sprinkle gold supply would be in a reasonable trading range. It is predicted that the lowest forex price of gold in 2011 would be at 1320 US dollars per ounce, and the highest point would be at 1780 US dollars per ounce.

The forex analysts also pointed out that the recent focus on silver forex price would continue in 2011, and would be a replace of gold investment in the forex market. Silver would receive more attention in 2011, and it is predicted that the average forex price of silver would be at 36.25 US dollars per ounce in 2011 and the lowest point it might reache was at 24 US dollars per ounce, and the highest pointed would be at 46 US dollars per ounce.

The forex analysts said it would not be sudden for the silver forex price to reach 50 US dollars, but they warned that only when this forex price fluctuated sharply and got back sharply for many times that it might reached the level of 50 US dollars per ouonce.

Edited by Laura in Ikon Group.

 

[ikonforex]

Ikon forex "Gold futures in COMEX were closed low due to decreased hedge buying"

Because the economy continued to get improvement, the forex investors decreased their hedge buying in the forex market, therefore, gold futures in COMEX was closed low on Thursday (January 6), and that would be the third trading day for this forex price to be closed low in succession.

Gold future contract in COMEX in February was closed low by 1.60 US dollars per ounce to 1372.10 US dollars per ounce, and the slump amount was 0.1 percent. In the previous trading session, gold future forex price had reached the lowest point since December 16 at 1364.00 US dollars per ounce, and it repeatedly reached 1432.50 US dollars per ounce the historical high point on December 7.

According to the latest data of DOL which was released on Thursday that the initial unemployment number at the beginning of the week of January 1 in US was increased by 0.18 billion to 4.09 billion, and the previous expectation was 4.00 billion.

Leonard Kaplan, the president of Prospectors said gold forex price might just be at the end of the bearish market, because the economy is getting improved and once the forex rate was increased, the gold forex price would be forced to go down.

Edited by Laura in Ikon Group.

 

[ikonforex]

Ikon forex EUR/USD tent to get a slight rebound

Early in the Asia forex market on Monday (January 10), the forex price of EUR/USD mildly got a rebound to above 1.2900, and at the beginning of the forex market the lowest point this forex price had reached was at around the lowest point for four months at 1.2863.

The result of the non-farm employment report in US which was released on last Friday (January 7) continued to provide some support for USD in the forex market. Even though the employment number had increased by 1.03 thousand people, less than the previous expectation, but the unemployment rate of December slumped to 9.4 percent, which was the lowest level since May 2009.

After the data was released, the forex price of EUR/USD repeatedly got a rebound to above 1.3000, but later this forex price was finally closed below 1.2950 and went down to 1.2893 early in the forex market on Monday.

Some forex analyst pointed out in this forex trading session, because of the short-term advantage vacated as well as the demand for benefit taking, the forex price of EUR/USD tent to get a rebound. The first target of the rebound of this forex price would be going back to the trading range of 1.2950-60, and then it would point to 1.3020.

The forex price EUR/USD was reported to be at 1.2903/05 at 08:24 Beijing time.

Edited by Laura in IKON Group.

 

[ikonforex]

Ikon forex "RMB is predicted to gradually surging up in the forex market"

The president of National Economic Research Institute, the previous consultant in PBOC Fan Gang said on Monday (January 10) that RMB is predicted to continue to surge up in the forex market, but the surging trend would be gradually.

The issue of the forex exchange rate of RMB would gain much more attention before the president of China Hu Jintao visited the United States. Fan Gang said it is predicted that a sharp increase of RMB for one time would not occur in the forex market and China would gradually loosen the limit on he foreign exchange rate in China.

Fan Gang predicted that the increase of GDP in 2010 would increase by 8 percent to 9 percent. It is predicted that the Chinese government would take some actions to deal with the pressure of inflation in the domestic market and take the tightening currency policy to slow down the increasing speed of the economy.

Forex news in Ikon Group

Edited by Laura.

 

[ikonforex]

Ikon forex "Spot gold got stabilized in Asia forex market for doubt in EU national

International spot gold forex price steadily went up early in the Asia forex market on Wednesday (January 12), and the major reason was for the affection of the surging up of the oil price in US as well as the panic emotions on the forex trend of EU national debts in the forex market.

Spot gold slightly surge up by 2.31 US dollars to 1382.76 US dollars per ounce in the trading session of Asia forex market, and the highest point it had reached was at 1384.45 US dollars per ounce. The gold future contract which was due in February in United States went down by 1.5 US dollars to 1382.8 US dollars per ounce.

Oil price in US got stabilized at above 91 US dollars per ounce early in the Asia forex market on Wednesday and in the previous trading session two oil fields were closed in the North Sea, meanwhile the major petroleum pipeline in Alaska was still closed also and this made the price of oil surge up sharply.

The forex price of EUR/USD continued to go up high for two forex trading days in succession and then early in the Asia forex market on Wednesday lack of the energy to go up, the space for surging up in short term would be quite limited. Affected by the panic emotions of the EU sovereign debt problems, before the national debts in EU started to be sold in the forex market, the investors should hold a cautious attitude.

The world’s largest list gold ETF SPDR Gold Trust said its gold holing had went down to 1271.467 tons until January 11, and that of January 10 was 1272.682 tons.

The world’s largest list silver ETF iShare Silver Trust said its silver holding until January 11 had went down to 107865.51 tons.

The forex price of spot gold was at 1383.80 US dollars per ounce at 10:18 Beijing time.

xxxx news from Ikon Group

Edited by Laura.

 

[SwingKing]

Re: Ikon forex "AUD/USD fell to below 1.0200 and got an adjustment and stabilized"

Ikon Forex,

I had edited one of your posts yesterday and told you that outside weblinks are not permitted. Please adhere to forum rules. Next time I will report you to Super Moderator.

Tc

 

[ikonforex]

Ikon forex "Unemployment rate of Australia in December suddenly went down by 5.0%"

The latest data of Australian Bureau of Statistics which was released on Thursday (January 13) indicated after the seasonal adjustment of the unemployment in Australia suddenly went down to 5.0 percent, and that of November 5.2 percent. The employment number was increased by 2300.

The economists predicted previously that the unemployment rate of December might become 5.1 percent, and the employment number increased by 25 thousand people.

The Bureau also released that the full-time employment number in December increased by 1700 to 8.03 million, and the part-time employment number increased by 600 to 3.38 million.

In addition, the employment rate slumped from 66.0 percent of November to 65.8 percent after the seasonal adjustment in December. And at the same time the accumulated working hours were decreased by 3.4 million hours to 1.6 billion hours.

Edited by Laura in Ikon Group.

 

[ikonforex]

Ikon forex Shanghai spot gold slightly closed low early on Monday in forex market"

The spot gold price of AU9999 and AU9995 in Shanghai Gold Exchange as well as Gold T+D slightly went down early in forex market on Monday (January 17).
Gold forex price of AU9999 was opened at 295.79 yuan, and the highest and lowest points were 295.79 yuan and 294.55 yuan separately; early in the forex market the close quotation was at 294.90 yuan, and compared with the previous trading session this forex price went down by 0.89 yuan and the slump amount was 0.30 percent.

The gold forex price of AU9995 was opened at 294.50 yuan and the highest and lowest points were 294.90 yuan and 294.50 yuan separately; the close quotation early in the forex market was at 294.79 yuan , compared with the previous trading session it went down by 0.91 yuan, and the slump amount was 0.31 percent.

Au(T+D) was opened at 293.40 yuan, and the highest and lowest point was 293.40 yuan and 292.75 yuan separately, the close quotation early in the forex market was at 293.00 yuan, compared with the previous trading session, it went down by 1.50 yuan and the slump amount was at 0.51 percent.

The international spot gold price slightly went up early in the forex market, and the highest point it had reached was at 1365.85 US dollars per ounce, far from the lowest point for the week which had been made on last Friday at 1360 US dollars. Because of the panic emotions of the sovereign debt crisis in EU, the hedge demand of gold suffered great pressure, but PBOC increased its deposit reserve ratio again and made the forex price of gold slump down sharply.

Edited by laura in Ikon Group.

 

[ikonforex]

Ikon forex "NZD/USD might be pushed up high after CPI data was released in the market

The forex price of NZD/USD slightly went back to the level of 0.7720 early in the Asia forex market on Tuesday (January 18), and the forex price at the end of the local forex market was at 0.7685.

The forex dealer Chris Hunter in Western Union Business Solutions said they predicted the forex price of NZD/USD would be maintained at the current level and the CPI index which was released on Thursday in New Zealand might go further high.

Hunter thought the confidence of the forex investors got improved as the sovereign debt crisis was smoothed and the price of the agricultural products got improved and went up, and all of there elements provided some support for the forex price of NZD. Even though the forex market in US was closed and it might bring some impact to the dim forex trading in the market.

He predicted that the support point of the forex price of NZD/USD was at 0.7700, and the primary obstacle point was at 0.7750.

The forex price of NZD/USD was at 0.7715/25 at 08:16 Beijing time.

Edited by Laura in Ikon Group.

 

[ikonforex]

Ikon forex "USD index left low and might got a rebound to 79.00-10 in short term"

After Tokyo decided its interest rate on Thursday (January 20), USD index went further and reached the lowest point of the previous night at 78.30, so far it had rose up to above the highest point of the previous night at 78.74.
Some forex analyst pointed out due the slump of the EU and US stock markets as well as the slump down early in the Asia forex market, the USD index got a further rebound.

The focus of the forex market would be at the economic data from China in this forex trading session, and if the performance was not quite good, the USD index would get a rebound to 79.00-10.

This forex analyst thought only if the USD index got back to the trading range of 79.00-10, the slump down pressure in short term would be smoothed.
On the other hand, even though the forex price of EUR/USD reached above 1.3500 in the previous night, but if it wants to open another round of surging up trend, more support was needed and it should be closed at above 1.3500. If this forex price fell below 1.3350 within this forex trading session, then it might further go down to 1.3300.

The USD index was at 78.76, and the forex price of EUR/USD was at 1.3438/40 at 08:56 Beijing time.

Edited by Laura in Ikon Group.