IKON FINANCE Forex Analysis (February)

IKON FINANCE Forex Analysis (February)

Postby Ajawed » Fri Feb 01, 2013 6:50 am

February 1, 2013

After weaker GDP data, given worse than expected weekly jobless claims and disappointing corporate earnings, U.S. stocks trimmed earlier gains, sending the Dow 49 points lower, while the S&P lost 0.26 percent.

As is known, fourth quarter GDP contracted 0.1 percent, first shrink since 2009, raising concerns over the recovery. However, investors sold equities yesterday as weekly jobless claims rose to 368000, adding more concern over the economy even though personal income and Chicago PMI showed better horizon. Meanwhile, UPS and Dow Chemical released their quarterly reports, revealing downbeat environment over corporate results.

On the corporate side, Time Warner Cable Inc. plunged 11 percent to $89.34. ConocoPhillips tumbled 5.1 percent, the biggest drop since August 2011. UPS lost 2.4 percent to $79.29. Dow Chemical Co. sank 7 percent on weaker sales.

European stocks retreated for second day as weaker corporate reports and economic data pared gains on the equities despite upbeat employment situation in Germany and encouraging government borrowings. The Stoxx Europe 600 Index fell 0.5 percent to 287.22 at the close.

The common currency continued its longest winning streak in ten years as market confidence came back in the region in the wake of falling interest rates and improving economic data. Moreover, the Fed's ongoing zero rate policy underpinned euro's strength in the wake of resurging risk appetite. The euro climbed to $1.3594, the highest level since Nov. 18, 2011.

Despite weaker dollar, oil for March delivery fell
45 cents, or 0.5%, to $97.49 a barrel on the New York Mercantile Exchange amid speculation downbeat employment situation would hit energy demand.

Gold for April delivery slumped $19.60, or 1.2%, to settle at $1,662 an ounce on the
Comex division of the New York Mercantile Exchange although the dollar weakened further as investors cashed in recent profits.

Today, we will keep eye on motor vehicle sales, PMI manufacturing index, ISM manufacturing index, construction spending, consumer sentiment and all important employment situation in succession.

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Re: IKON FINANCE Forex Analysis (February)

Postby Ajawed » Mon Feb 04, 2013 5:12 am

February 4,2013

Given better than expected economic data and earning reports, U.S. stocks continued their winning streak for fifth consecutive week, sending major averages to five-year high in a row. With Friday's gains, the Dow Jones advanced 0.8 percent for the week, while the S&P and the NASDAQ increased 0.7 percent and 0.9 percent, respectively.

Actually, equities lost some ground previous week as GDP numbers showed that economy unexpectedly shrank, disappointing investors. However, upbeat jobs report, encouraging ISM manufacturing report, consumer sentiment and construction spending data restored market confidence across the board as the economy is gaining ground than earlier estimates. Meanwhile, majority of bellwether companies posted stronger earning reports and projections on their quarterly reports, spurring investors to stick long positions on the stocks. Furthermore, Zoetis rallied 20 percent in first trading day in New york Stock Exchange as second largest IPO after Facebook, indicating upbeat horizon for equities.

On the corporate side, Verizon jumped 4.4 percent for the biggest gain in the Dow to $44.56. Pfizer Inc. rallied 2.3 percent to $27.63. Hess Corp. surged 16 percent to $68.21. D.R. Horton Inc. rose 7.3 percent to $23.35. Caterpillar Inc. edged up 4.1 percent on better sales.

Despie Friday's gains, European stocks posted their biggest weekly loss this year as a report revealed the U.S. economy unexpectedly shrank in the fourth quarter and Spain’s markets regulator lifted a ban on shorting equities. The benchmark Stoxx 600 fell 0.5 percent to 288.2 this past week.

The common currency advanced for the second week against the buck, touching highest level in 14 months as the ECB's balance sheet shrank while the Fed said it would remain pumping money into the U.S. economy. Meanwhile, putting aside Spain, region's fundamentals are signaling better environment for 2013. The euro rallied 1.3 percent to $1.3640, after testing 1.37, the strongest level since Nov. 14, 2011.

The March contract for oil added 28 cents, or 0.3%, to settle at $97.77 a barrel on the
New York Mercantile Exchange, gaining 2 percent for the week. Despite weaker GDP data, investors flocked towards oil in the wake of upbeat jobs report, manufacturing, construction spending and consumer sentiment data. In the meantime, weakening dollar triggered oil buying in the markets.

Gold for April delivery increased
$8.60, or 0.5%, to settle at $1,670.60 an ounce on the Comex division of the New
York Mercantile Exchange, adding 0.9 percent for the week. Weak dollar and GDP numbers boosted precious metal prices, whereas encouraging factory and consumer sentiment data curbed additional gains.

Looking ahead, factory orders, ISM non-manufacturing index, weekly jobless claims, productivity and costs, international trade and wholesale trade in succession.

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News Updates By Ikon Finance

Postby Ajawed » Tue Feb 05, 2013 5:46 am

February 5, 2013

After climbing highest past week in five years, U.S. stocks experienced worst day this year on resurging political tension in Europe and weaker factory orders. The Dow sank 130 points, while the S&P 500 and the NASDAQ slumped 1.13 percent and 1.51 percent, respectively.

Indeed, investors liquidated long positions on the equities in the face of risk aversion amid allegations that Spain's Rajoy received illegal payments, spurring investors to sell equities. Meanwhile, a new survey showed that Berlusconi narrowed the front-runner’s lead before elections this month. With rising concerns over politics, borrowing costs of Italian and Spanish governments climbed, dampening market confidence across the board. Moreover, factory orders came in less better than expectations, disappointing investors after upbeat jobs, manufacturing and consumer sentiment data on Friday.

On the corporate front, McGraw-Hill Cos. plunged 14 percent to $50.30. Chevron Corp. lost 1.1 percent to $115.20. Oracle Corp. tumbled 3 percent to $35.13. Sysco slumped 2.7 percent to $31.23. Humana Inc. jumped 4.7 percent to $78.86. Wal-Mart lost 86 cents to $69.63 as JPMorgan downgraded its rating.

European stocks drifted lower the most in more than three months as surging political problems in Spain and Italy hit bond rates and investors sold risky assets on emerging uncertainty. The Stoxx Europe 600 Index fell 1.5 percent to 283.9 at the close of trading, the largest decline since Oct. 23.

The common currency lost notable ground the most in a month against the dollar as Italian and Spanish bonds slumped amid political turmoil, deteriorating demand for the single currency. Meanwhile, weaker economic data prompted dollar buying as safe haven. The dollar rallied 0.9 percent to $1.3514, the biggest gain since Jan. 3.

Crude for March delivery lost

$1.60, or 1.6%, to settle at $96.17 a barrel on the New York Mercantile Exchange as rising political tension in Spain and Italy and stronger dollar fueled selling on oil amid demand fears.

Gold for April delivery

climbed $5.80, or 0.4%, to $1,676.40 an ounce on the Comex

division of the New York Mercantile Exchange despite stronger dollar as political uncertainty and falling equity prices stoked gold buying as safe haven.

Today, we will pay close attention to ISM non-manufacturing index and ongoing problems in the euro zone to find direction in the markets.

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News Updates By Ikon Finance

Postby Ajawed » Wed Feb 06, 2013 7:20 am

January 6, 2013

U.S. stocks pared earlier losses on upbeat earnings report and economic data, sending the Dow 99 points higher, while the S&P 500 and the NASDAQ advanced 1.02 percent and 1.30 percent, respectively, led by tech shares.

As is known, stocks lost substantial ground Monday on intensifying concerns over European debt crisis. Investors snapped up stocks yesterday as better than expected corporate earnings and upbeat services index fueled stock buying across the board. Meanwhile, Dell Inc. agreed to the largest leveraged buyout since the financial crisis, restoring market confidence on the equities.

On the corporate front, McGraw-Hill Cos. sank 11 percent and extended its two-day drop to 23 percent. Dell advanced 1.1 percent on being private company. Computer Sciences surged 9.2 percent, the most in the S&P 500. Archer-Daniels-Midland Co. climbed 3.3 percent on better results.

European stocks increased the most in almost four weeks as companies from Munich Re to BP Plc match earnings forecasts and a measure of euro-area services output shrank less than forecast, spurring investors to buy risky assets. The Stoxx Europe 600 Index gained 0.6 percent to 285.56 at the close in London.

The euro trimmed losses as the ECB’s balance sheet shrank to the smallest in almost a year on early loan repayments by euro-area banks, stoking investors to liquidate long positions on the dollar in the wake of risk appetite. Meanwhile, investors speculated that European Central Bank policy makers aren’t concerned a stronger currency will slow the economic expansion. The euro strengthened 0.5 percent to $1.3583.

After losing 1.6 percent Monday, March crude oil added
47 cents, or 0.5%, to settle at $96.64 a barrel on the New York Mercantile
Exchange as the buck weakened and services data signaled better horizon for oil demand.

Despite weaker dollar, Gold for April delivery lost
$2.90, or 0.2%, to settle at $1,673.50 an ounce on the Comex division of the New
York Mercantile Exchange as equities gained and upbeat economic data petered out precious metal's appeal.

Today, we will keep eye on weekly crude inventory report and corporate earnings ahead of important jobs report and productivity and costs data due tomorrow.

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Re: IKON FINANCE Forex Analysis (February)

Postby Ajawed » Thu Feb 07, 2013 7:19 am

February 7, 2013

U.S. stocks ended the day on mixed note despite better than expected corporate earnings as European debt crisis weighed on the global markets. The Dow and the S&P 500 added 7 points and 0.05 percent, respectively, while the NASDAQ lost 0.10 percent.

Actually, equities tumbled earlier in the day amid fears Europe’s debt crisis may worsen. European Central Bank President Draghi will head a meeting of policy makers today in Frankfurt as euro-area leaders gather for a summit in Brussels. As is known, political tension in Spain and Italy hit markets and borrowing costs continued to climb across Europe as investors preferred less risky assets, liquidating higher yielding asset positions. However, upbeat corporate reports limited losses in New York, restoring market confidence.

On the corporate side, Ralph Lauren Corp. rallied 5.9 percent to $174.63 on better sales and projections. 3M Co. added 1.2 percent to $102.69, for the biggest advance in the Dow. Aflac Inc. fell 4.3 percent to $51.18 on weaker results. Apple Inc. edged down 0.1 percent to $457.35, erasing an earlier rally of as much as 1.9 percent. Time Warner Inc. increased 4.1 percent on notable profit.

European stocks remained lower Wednesday as Berlusconi's party is gaining ground ahead of elections, raising concerns over ongoing austerity measures. Meanwhile, lingering political issue in Spain dampened market mood in the region. The Stoxx 600 fell 0.4 percent to 284.52 at the close.

Resurging concerns over European debt crisis spurred investors to sell the single currency in the face of rising risk aversion. Meanwhile, European leaders maintained to wrangle on the euro's value, deteriorating confidence on the common currency. The euro fell 0.4 percent to $1.3523 vs. the buck.

Crude-oil futures for delivery in March settled at $96.62 a barrel on the New York Mercantile
Exchange, down 2 cents. Strengthening dollar, political uncertainty in Europe and modestly higher crude stockpiles triggered oil selling in the markets.

Gold for April delivery edged up
$5.30, or 0.3%, to settle at $1,678.80 an ounce on the Comex division of the New
York Mercantile Exchange. Despite stronger dollar, precious metal benefited from political uncertainty in the euro zone and weaker equities underpinned gold's appeal as investors flocked towards it as safe haven.

Today, we will focus on weekly jobless claims, productivity and costs and consumer credit in succession. In the meantime, investors will pay close attention to Draghi's remarks after the ECB's meeting amid discussions on the euro's current level.

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News Updates By Ikon Finance

Postby Ajawed » Fri Feb 08, 2013 7:07 am

February 8, 2013

Given Draghi's downbeat remarks on the euro zone's economy and weaker economic data in the U.S., stocks lost some ground, sending the Dow 43 points lower, while the S&P 500 and the NASDAQ retreated 0.21 percent and 0.11 percent, respectively.

Indeed, global equities drifted lower Thursday as Draghi signaled policy makers are concerned that the euro’s advance could damp inflation and hamper an economic recovery. Meanwhile, productivity in the U.S. decreased at a 2 percent annual rate, the worst performance in almost two years, while weekly jobless claims came in worse than estimates, deteriorating market confidence across the board.

On the corporate front, Teradata Corp. slumped 7.1 percent to $61.82. News Corp. tumbled 2.3 percent to $27.56 after cutting its profit outlook. Prudential Financial Inc., the No. 2 U.S. life insurer, edged down 2.8 percent to $56.90. Apple advanced $13.52 to $468.22.

The common currency sank vs. the dollar after Draghi said recent currency gains may slow inflation and growth, damping demand for the region’s assets. In the meantime, European leaders meet in Brussels to seek agreement on the 2014-2020 budget, discussing current level of the single currency. After Draghi's downbeat comments, investors purchased less risky assets, flocking towards the greenback.

Crude-oil futures for March delivery fell
79 cents, or 0.8%, to settle at $95.83 a barrel on the New York Mercantile
Exchange as dollar strengthened and economic data indicated weaker horizon for the economy, petering out oil's appeal.

Surging dollar hit precious metal as European leaders and Draghi dampened market confidence on the euro. Gold for delivery in April fell $7.50, or 0.5%, to settle at $1,671.30 an ounce on the
Comex division of the New York Mercantile Exchange.

Today, we will focus on international trade and wholesale trade in succession. Meanwhile, corporate reports and ongoing discussions on the euro's value will likely drive markets.

http://www.ikonfinance.com/
Ajawed
 
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Re: IKON FINANCE Forex Analysis (February)

Postby Ajawed » Mon Feb 11, 2013 6:32 am

February 11, 2013

Gold (spot)closed downonFriday,made its intraday highof US$1,673.65/ ounce before setting intraday low of US$1,665.40/ounce. Gold went down by 0.27%at US$1,667.20/ounce.

Silver (spot) closed down on Friday made its intraday high of US$31.69/ ounce after setting intraday low of US$31.35/ounce. Silver settled 0.19% down at US$31.41/ounce.

Crude futures (March 2013) on Friday made an intra‐day high of US$96.57/bbl and made an intraday low of US$95.27/bbl and settled down by 0.11%at US$95.72/bbl on session close.

EUR/USD on Friday made an intra‐day low of US$1.3353/EUR and made an intraday high of US$1.3429/EUR and settled the day 0.171% down at US$1.3367/EUR on session close.

GBP/USD on Friday made an intra‐day low ofUS$1.5703/GBP and made an intraday high of US$1.5844/GBP and settled the day down 0.528% at US$1.5796/GBP on session close.

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Ajawed
 
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Re: IKON FINANCE Forex Analysis (February)

Postby Ajawed » Mon Feb 11, 2013 7:19 am

IKON is about to launch its Spring Trading Competition and we want YOU to have a chance to benefit from this FREE competition.

This competition is as easy as 1, 2, 3..

Sign Up Below to Register for a Competition Demo account by 1st March 2013

Trade as much or as little as you like during March

The participants with the highest equity at the end of March can will win the following prizes.

Competition Prizes

1st Prize
The Prize for the winner of the IKON Trader Competition will receive a brand new 16 GB Wi-Fi Apple iPad with a retina display and a live trading account with $500 funds applied.

2nd Prize
The Prize for Runner Up will get a $500 funded live account

3rd Prize
The Third Placed Winner will get a $250 funded live account

Please note that you can enrol prior to 1st March and practice trading! We will reset the balance on your account to USD 50,000, and close your open positions on 1st March 2013 when the real fun begins!!!

Good luck and Happy Trading!
Click on the this link to sign up http://ikonfinance.com/tradercontest/
Ajawed
 
Posts: 328
Joined: Tue Jan 22, 2013 4:22 am

Ikon Finance Spring Competition

Postby Ajawed » Tue Feb 12, 2013 5:00 am

IKON is about to launch its Spring Trading Competition and we want YOU to have a chance to benefit from this FREE competition.
Sign Up Below to Register for a Competition Demo account by 1st March 2013
Click on the this link to sign up http://ikonfinance.com/tradercontest/
Trade as much or as little as you like during March..
Good luck and Happy Trading!

News Updates

February 12, 2013

After six consecutive week winning streak, U.S. stocks started the week with modest losses as indices hovered around five-year high, spurring profit taking across the board. The Dow lost 22 points, while the S&P 500 and the NASDAQ retreated 0.06 percent and 0.07 percent, respectively.

Actually, equities posted substantial gains over the past six week as lawmakers agreed to suspend debt limit until May and the Congress found temporary solution on so-called fiscal cliff, fueling stock purchases. Meanwhile, the Fed said it will maintain its dovish monetary policy and the bank will continue to buy mortgage-backed securities to get the economy back on track. Moreover, corporate earnings showed robust environment for the economy, posting better results than estimates. However, investors are hesitating to stay long on the equities at current price levels, dampening market mood.

On the corporate side, Google lost $2.95 to $782.42. Citigroup Inc. added 1.1 percent to $43.15 and Wells Fargo & Co. gained 1.1 percent to $35.26. Moody’s Corp. jumped 4.9 percent to $45.49 after notable losses last week. AOL advanced $2.51 to $36.23.

European stocks drifted lower, extending a two-week decline as ongoing political uncertainty in Spain and Italy, discussions about Cyprus' bail-out and weaker corporate reports weighed on the equities. The Stoxx Europe 600 Index tumbled 0.6 percent to 285.62 at the close of trading.

The single currency rebounded Monday as European Central Bank council member Weidmann said the currency isn’t seriously overvalued, prompting euro buying as investors liquidated short positions on the euro. The Common currency climbed to 1.3406 vs. the buck, signaling consolidations around 1.34.

March crude increased
$1.31, or 1.4%, to settle at $97.03 a barrel on the New York Mercantile
Exchange, the highest settlement since Feb. 1. After Weidmann's upbeat remarks over euro, weakening dollar triggered commodity purchasing in the markets.

Gold for April delivery plunged $17.80, or 1.1%, to settle at $1,649.10 an ounce on
the Comex division of the New York Mercantile Exchange amid speculation that G7 leaders will try to curb currency wars to stabilize world economy, petering out gold's appeal.

Today, we will keep eye on NFIB Small Business Optimism Index and Treasury Budget ahead of important retail sales and business inventories data due tomorrow.
http://www.ikonfinance.com/
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Ajawed
 
Posts: 328
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Re: IKON FINANCE Forex Analysis (February)

Postby Ajawed » Wed Feb 13, 2013 7:51 am

IKON is about to launch its Spring Trading Competition and we want YOU to have a chance to benefit from this FREE competition.

This competition is as easy as 1, 2, 3..

Sign Up Below to Register for a Competition Demo account by 1st March 2013

Trade as much or as little as you like during March

The participants with the highest equity at the end of March can will win the following prizes.

Competition Prizes

1st Prize
The Prize for the winner of the IKON Trader Competition will receive a brand new 16 GB Wi-Fi Apple iPad with a retina display and a live trading account with $500 funds applied.

2nd Prize
The Prize for Runner Up will get a $500 funded live account

3rd Prize
The Third Placed Winner will get a $250 funded live account

Please note that you can enrol prior to 1st March and practice trading! We will reset the balance on your account to USD 50,000, and close your open positions on 1st March 2013 when the real fun begins!!!

Good luck and Happy Trading!

Click on the this link to sign up http://ikonfinance.com/tradercontest/
Ajawed
 
Posts: 328
Joined: Tue Jan 22, 2013 4:22 am

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