(25 OCTOBER 2017)DAILY MARKET BRIEF 2:Gold in the doldrums

The spot price of an ounce of Gold is edging lower over the uncertainties on the next Fed Chair. An ounce of Gold is now trading around $1273 down around 0.25% in the last 24 hours. Gold is definitely under pressure since Donald Trump issued a report stating that he would likely nominate John Taylor as the new head of the Federal Reserve. Indeed Taylor is strong partisan of increasing interest rates to 1.25%.

Gold price also continues to suffer as there is also the fact the North-Korean threat has not been taken seriously by markets and the move towards safe haven that we saw in the precious metal’s prices, going from $1200 to $1325 between July and September, did not continue.

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(25 OCTOBER 2017)DAILY MARKET BRIEF 1:AUD loses ground amid disappointing inflation data

The Australian dollar took a hit during the Asian session after the release of disappointing inflation data. AUD/USD slid to 0.7707, its lowest July since mid-July, as investors discount further a hawkish shift from the Reserve Bank of Australia. The Australian economy started the year positively suggesting that the country had successfully reduced its dependence to the mining sector, while on the inflation front, price pressure was finally picking up.

Nevertheless, over the last few month clouds started to gather at the horizon. Over the summer, the pace of retail sales growth slid into negative territory, while the minutes of the last RBA meeting came with a dovish done which suggest the central bank is in no hurry to lift interest rate before at least mid-2018.

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Brent: oil prices rise

As reported on Tuesday by the American Petroleum Institute (API), oil reserves in the US last week rose by 0.5 million barrels. At the same time, stocks of gasoline and distillates dropped quite significantly: -5.8 million barrels and -4.9 million barrels, respectively.

Oil prices positively received this information after the prices rose during yesterday’s trading day. The price for Brent crude oil rose by 1.7% on Tuesday to 58.27, adding about $ 1 per barrel. Brent crude futures for ICE increased by 1.7%, to 58.33 dollars per barrel.

On Tuesday, the Saudi Arabian Oil Minister confirmed his intention to do everything necessary to reduce the world’s oil reserves to an average of 5-year level.

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Eagle Scalper: How to activate News filter

In Eagle Scalper, News filter is designed to avoid big price fluctuation during high impact news.

It will not open trades and close opened orders before and after high impact news.

In order to activate news filter, please add below links to Tools >> Option >> Expert Advisors >> Allow WebRequest for listed URL :

在Eagle Scalper中,新闻过滤功能是用来避免重大消息发布时市场剧烈波动造成的风险。

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GOLD: Weakens On Failed Follow Through Higher

GOLD: The commodity now faces further weakness after failing to follow through higher on the back of its Monday gains. On the downside, support comes in at the 1,270.00 level where a break will turn attention to the 1,260.00 level. Further down, a cut through here will open the door for a move lower towards the 1,250.00 level. Below here if seen could trigger further downside pressure targeting the 1,240.00 level. Conversely, resistance resides at the 1,290.00 level where a break will aim at the 1,300.00 level. A turn above there will expose the 1,310.00 level. Further out, resistance stands at the 1,320.00 level. All in all, GOLD looks to weaken further lower.

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(24 OCTOBER 2017)DAILY MARKET BRIEF 2:Japan: Big win for Shinzo Abe at parliamentary election

The Japan election sent the USD/JPY to a three-month high above yen 113.50 for one single dollar note. Shinzo Abe won by a clear majority (312 seats out of 465 possible, more than a two-thirds majority). The prime minister victory is synonym of continuation of the Abenomics. The free money is then likely to continue flooding in Japan for some more time. The Nikkei has by the way reacted very positively by setting an all-time high to 21805 points.

This result may sound as contradictory knowing the failure of the Abenomics so far. The targets set up by Shinzo Abe have not been reached. The Japanese debt has never been so strong and the country struggles against deflation. Wages growth are very low. The truth is that the country needs this very loose monetary policy to keep going.

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(24 OCTOBER 2017)DAILY MARKET BRIEF 1:NZD’s slide is not over

The New Dollar was by far the worst performer among the G10 complex this morning as Prime Minister Jacinda Ardern made her first announcements. The Kiwi rose to $0.7004 before reversing momentum towards $0.6926 after New Zealand’s Prime Minister announced the priorities of the newly formed government – NZ First’s Winston Peter is now deputy PM. One of the priorities of the coalition government is to review and reform the central bank act by adding another mandate to the central bank. Should this be accepted, the Reserve Bank of New Zealand (RBNZ) will have a dual mandate, just like the Federal Reserve, and will have an employment target as well as the traditional inflation one. However, what sent the Kiwi lower is another comment from PM Ardern regarding the possibility to give the central bank more flexibility to manage the NZD’s value against other currencies.

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USD/JPY: amid the victory of Prime Minister Shinzo Abe’s party

After the results of the parliamentary elections in Japan became known, in which Prime Minister Shinzo Abe’s party won a convincing victory, the Japanese Nikkei stock index rose to new highs. This year, the Nikkei index grew by 13%, with almost the growth coming in the period after the beginning of September. The Nikkei Stock Average rose to 21810.00 amid the strengthening of shares of export-oriented companies, ending on a positive 16th consecutive day and setting a record for the duration of continuous growth (6 consecutive weeks).

The renewed growth of the Japanese economy and the growth of stock markets helped the ruling coalition to get more than two-thirds of the seats in the lower house of parliament. Abe’s victory inspired investors who are investing in the growth of the Japanese stock market, lagging behind other world stock markets. Abe supports soft monetary policy, which will promote the growth of the stock market and the reduction of the yen.

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Bernard Baruch is an investment and trading legend. Often considered “the lone wolf of wallstreet”. And for good reason, he did not follow the crowd. Many great men such as Paul Tudor Jones, Ed Seykota, JP Morgan and Warren Buffet have great quotes that I have posted above my desk. Well one of my favorites is Bernard’s. “Don’t try to buy at bottoms and sell at the top. It can NOT be done except by LIARS”. This brings me to my story on Target levels and stop losses. Last year I had a trade on JP Morgan and chase. Unfortunately I had a meeting to go to so I left the trade in my partners hands and gave him instructions, get’s here sell, get’s here sell. How much simpler can it be right?. Long story short the stock jumped up pre-market, but then failed to hit the target. Joe sat there watching like a deer in the headlights not understanding all the indicators and it slowly fell back down to where we lost a little. Now Joe isn’t stupid, far from it. He just doesn’t understand how to adapt t

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