Global stocks mostly rise on US-China trade talks as dollar gains

NEW YORK -- Global stocks mostly rose Monday as US and Chinese officials in Beijing geared up for crunch trade talks while the dollar gained on the euro for the sixth straight session. 

European and Asian bourses pushed higher at the start of trade talks in Beijing before a March 1 deadline that could lead to additional US tariffs if a deal is not reached.

Deputy US Trade Representative Jeffrey Gerrish led the US side in preparatory meetings ahead of the arrival later in the week of US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.

The Chinese delegation will be led by Vice Premier Liu He, who will be joined by central bank Governor Yi Gang.

While the two sides said they made major progress in talks last month in Washington, more recent comments have jarred financial markets, amplifying concerns about how the dispute will affect global growth.

Paris and Frankfurt both gained about one percent after Shanghai and Hong Kong climbed earlier. 

"European stocks have rallied... as traders are hopeful about the next round of trade talks between the US and China," said CMC Markets analyst David Madden.

"Given that both sides are still far apart, there is no guarantee that the discussions will be successful, and dealers' optimism might be wishful thinking."

London's benchmark FTSE 100 rose after an announcement that British economic growth has slowed, weighing on the pound and lifting stocks in multinationals that have earnings in foreign currency.

With Brexit looming next month, the British economy grew by 1.4 percent last year, data showed. That was the lowest level for six years, and down from 1.8 percent in 2017.

US stocks finished a choppy session mixed, with the Dow dipping and the S&P 500 and Nasdaq edging higher.

Adding to the anxiety over trade is uncertainty over US budget talks. Lawmakers in Washington were looking to resolve a budget impasse before Friday or risk another possible government shutdown.

President Donald Trump was scheduled for a campaign-style rally appearance in Texas at which he was expected to amplify his call to build a wall along the Mexican border.

RISING DOLLAR

The US political quagmire did not dim the dollar, which climbed again against the euro and also advanced on the pound and yen.

The dollar's gains on the euro follow a series of weak economic reports last week out of the eurozone. While the US Federal Reserve has shifted to more dovish stance, other major central banks are viewed as even less likely to tighten monetary policy.

"While it's not apparent today, there's a lot to be worried about over the next few weeks," said BK Asset Management's Kathy Lien, who listed US-China trade talks, Brexit, the US budget standoff and potential US tariffs on car imports as among the outstanding issues that could rock foreign exchange markets.

"Each of these events pose a significant downside risk to currencies but they could also lead to be short squeezes if the unexpected happens and they are resolved positively," Lien added. 

KEY FIGURES AROUND 2200 GMT (6 a.m. Tuesday in Manila)

New York - Dow: DOWN 0.2 percent at 25,053.11 (close)

New York - S&P 500: UP 0.1 percent at 2,709.80 (close)

New York - Nasdaq: UP 0.1 percent at 7,307.90 (close)

London - FTSE 100: UP 0.8 percent at 7,129.11 (close)

Frankfurt - DAX 30: UP 1.0 percent at 11,014.59 (close)

Paris - CAC 40: UP 1.1 percent at 5,014.47 (close)

EURO STOXX 50: UP 1.0 percent at 3,165.61 (close)

Hong Kong - Hang Seng: UP 0.7 percent at 28,143.84 (close)

Shanghai - Composite: UP 1.4 percent at 2,653.90 (close)

Tokyo - Nikkei 225: Closed for a public holiday

Euro/dollar: DOWN at $1.1279 from $1.1323 at 2200 GMT Friday

Dollar/yen: UP at 110.37 yen from 109.73

Pound/dollar: DOWN at $1.2859 from $1.2944 

Euro/pound: UP at 87.69 pence from 87.40 pence

Oil - Brent Crude: DOWN 59 cents at $61.51 per barrel

Oil - West Texas Intermediate: DOWN 31 cents at $52.41 per barrel

source: news.abs-cbn.com

Asia stocks edge higher, dollar languishes ahead of US jobs data

SINGAPORE - Asian stocks inched up on Friday after a technology-led drop on Wall Street, with gains kept in check by investors' reluctance to stake out fresh positions ahead of US jobs data later in the global day.

European markets look set for an underwhelming start, with financial spreadbetter CMC Markets expecting Britain's FTSE 100 , Germany's DAX and France's CAC 40 to open little changed.

The dollar hovered near the 2-1/2-year-low against the euro touched earlier this week, pressured by signs that probes into possible Russian interference in the 2016 U.S. elections are gathering pace.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent. The index was poised to climb 0.4 percent for the week, taking its gains so far this year to 24 percent.

Philippine shares bucked the downtrend, up 0.66 percent to 7,928.22 in late trading.

Japan's Nikkei dropped 0.3 percent on a stronger yen, and looked set to end the week little changed.

South Korea's KOSPI, which closed at a 3-1/2-week low on Thursday, recovered 0.4 percent, narrowing its losses for the week to 0.2 percent.

China's blue-chip CSI 300 reversed early losses to trade up 0.1 percent. Hong Kong's Hang Seng was slightly higher.

Overnight, the S&P and Nasdaq closed 0.2 percent and 0.35 percent lower respectively, with the declines led by technology shares.

But the Dow managed to post slight gains, staying above the 22,000 level breached on Wednesday.

US stocks fell to intraday lows late on Thursday after the Wall Street Journal reported that Special counsel Robert Mueller has constituted a grand jury to investigate allegations of Russian interference in the 2016 presidential election.

Two sources told Reuters on Thursday that the grand jury has issued subpoenas in connection with a June 2016 meeting that included US President Donald Trump's son, his son-in-law and a Russian lawyer.

"Politics came to the forefront once again with the latest developments in the Trump-Russia probe," said Jingyi Pan, market strategist at IG in Singapore, who added that "equity markets continued with a semblance of calm awaiting Friday's US jobs report".

Non-farm payrolls were expected to have increased by 183,000 jobs last month after surging by 222,000 in June, a Reuters survey of economists found. The unemployment rate is seen falling one-tenth of a percentage point to 4.3 percent.

The dollar weakened against the euro, with the common currency up 0.1 percent at $1.188, just a whisker below its highest level since January 2015 hit on Wednesday. The euro is set to end the week 1.15 percent stronger.

The dollar index, which tracks the greenback against a basket of six major peers, languished near the 15-month low hit earlier this week. It was down almost 0.1 percent on Friday at 92.776, set to end the week 0.5 percent lower.

The dollar was marginally higher at 110.08 yen, failing to make up most of Thursday's 0.6 percent loss. It is on track for a weekly loss of 0.6 percent.

Benchmark 10-year Treasury notes were at 2.228 percent on Friday. On Thursday, they fell to as low as 2.218 percent, their lowest level since late June, and closed at 2.228 percent.

Sterling on Friday revisited a nine-month low against the euro hit overnight after the Bank of England's policymakers kept interest rates at a record-low 0.25 percent.

"With the central bank downgrading its UK GDP growth forecast for both this year and 2018, sterling is poised for further punishment down the road," Lukman Otunuga, research analyst at ForexTime, wrote in a note.

Sterling was at 0.9041 against the euro on Friday, after falling to as low as 0.9048, its weakest since Nov. 2.

That helped lift the FTSE 0.85 percent overnight.

Venezuela's bolivar currency tumbled 18 percent against the US dollar on Thursday on the black market, ahead of the inauguration of a legislative superbody that the opposition says will give President Nicolas Maduro sweeping new powers.

In commodities, oil prices continued to be weighed down by persistent concerns about high crude supplies from both OPEC and the United States.

US crude slipped 0.2 percent to $48.93 a barrel, after sliding 1.1 percent overnight, putting it on track for a weekly loss of 1.6 percent.

Global benchmark Brent also dropped 0.2 percent to $51.91, extending Thursday's 0.7 percent loss, headed for a 1.2 percent weekly decline.

Spot gold was steady at $1,268.12 an ounce, holding on to Thursday's 0.15 percent gain, and set to end the week little changed.

source: news.abs-cbn.com

Asia up as Wall Street extends record rise, dollar steady

TOKYO - Asian stocks edged up on Wednesday, joining a record-setting night for world markets as investors cheered upbeat factory activity in Europe and solid earnings on Wall Street.

The dollar was steady after hawkish comments from top Federal Reserve officials bolstered expectations the world's no. 1 economy was strong enough to keep policymakers on course to further raise rates this year.

MSCI's broadest index of Asia-Pacific shares outside Japan nudged up 0.1 percent, taking its cues from the world stock index rising to an all-time peak of 446.21 overnight.

Japan's Nikkei and South Korea's Kospi each added 0.15 percent.

The Dow rose 0.6 percent on Tuesday to notch a record closing high for the eighth straight session, lifted by strong earnings reports from Wal-Mart and Home Depot.

That followed a strong showing in European equities, which were boosted by upbeat German and French factory activity data, with Germany's DAX rising to its highest in nearly two years.

"US stock markets are currently a great example of the old trading adage that the trend is your friend," wrote Ric Spooner, chief market analyst at CMC Markets.

"The slide in the euro as Marie Le Penn's polls improve was the other key feature of international markets last night and is an early indicator that French elections could loom larger on the market radar over coming weeks."

The euro hovered near $1.0526, the low from the previous day when it lost more than 0.7 percent.

While the European political concerns remain a drag on the euro, the dollar received a further boost following hawkish comments from Cleveland and Philadelphia Fed Presidents Loretta Mester and Patrick Harker.

Mester expressed comfort at raising rates at this point, while Harker reportedly said a March rate hike was on the table.

The financial markets are waiting on the Fed's Jan. 31-Feb. 1 policy meeting minutes due later in the day for fresh hints on the central bank's stance towards interest rates.

The dollar was steady at 113.660 yen after climbing 0.5 percent overnight to a five-day high of 113.780. The greenback's index against a basket of major currencies was a shade higher at 101.400 after gaining 0.5 percent the previous day.

The Australian and New Zealand dollars were flat at $0.7676 and $0.7163, respectively.

In commodities, crude extended gains from the previous day when it touched 1-1/2-month peaks on OPEC's optimism for greater compliance with its deal with other producers including Russia to curb output.

US crude rose 0.1 percent to $54.38 a barrel.

source: news.abs-cbn.com

Asia struggles for traction, dollar near 14-year peak on Fed rally

TOKYO - The dollar on Friday stood near a 14-year peak, bond yields were highly elevated and Asian stocks struggled for traction as global markets continued adjusting to the idea of higher US interest rates.

In a move that reverberated across the financial markets, the Fed on Wednesday raised rates for the first time in a year and hinted at three hikes to follow in 2017, up from the two projected in September.

The dollar index topped the 103.00 threshold for the first time since December 2002 overnight and last stood at 103.11.

The euro was steady at $1.0410 after hitting $1.0366 overnight, its lowest since January 2003. The dollar was little changed at 118.065 yen after surging to a 10-month high of 118.660 the previous day.

The greenback was lifted as the notion of the Fed tightening monetary policy next year more quickly than first thought took the benchmark US Treasury 10-year yield to highs not seen in two years.

"World markets continue to adjust to an outlook for higher US interest rates and increased inflation risk boosted by major US tax cuts," wrote Ric Spooner, chief market analyst at CMC Markets.

Tracking the rise in the US 10-year note's yield, Japan's 10-year government bond yield rose to an 11-month peak of 0.10 percent. That gain is expected to test the Bank of Japan's resolve to keep the yield around zero percent.

Asian stocks were mixed, reflecting the differing fortunes for developed and emerging market economies faced with higher US interest rates.

"Emerging market countries have been hit the hardest by capital leaving in search of higher yields and return along with the growing cost of paying back dollar denominated debt," wrote Kathy Lien, managing director of FX strategy at BK Asset Management.

Japan's Nikkei climbed to a one-year high on a weaker yen and gains on Wall Street overnight. US shares rose on Thursday, brushing off the initial shock of a more hawkish Fed, led by shares of banks seen as the benefactors of higher rates.

European stocks also rose, gaining 1 percent on Thursday as bank stocks increased.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped a fraction after falling 1.8 percent on Thursday. The broader emerging market stock index was down 1.6 percent.

Australian stocks shed 0.1 percent, while South Korea's Kospi also lost 0.1 percent.

In commodities, crude oil prices nudged higher. Negative pressures from a bullish dollar were offset after OPEC members told customers they would cut crude supplies.

source: news.abs-cbn.com

Asian shares, dollar, ride high as Clinton looks more likely to win election

SINGAPORE - Asian shares rose in early Asian trade on Tuesday ahead of the U.S. presidential election, with investor sentiment buoyed by improving prospects for Democrat Hillary Clinton to win.

The Mexican peso, which has moved in opposite step to perceived chances of Republican Donald Trump winning the election, retained its strong gains from Monday, while the dollar also held steady.

Boosting Clinton's chances of winning, and markets globally, was the FBI's statement on Sunday standing by its July finding that Clinton was not guilty of criminal wrongdoing in her use of a private email server. That came after the Bureau announced on Oct. 28 it was reviewing additional emails relating to the server while Clinton was secretary of state, sending markets around the world tumbling.

Clinton is seen by investors as offering greater certainty and stability, and, until last week's stumble, had been seen as the likely victor in Tuesday's presidential vote.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent.

Japan's Nikkei rose 0.3 percent, aided both by the positive sentiment and a weaker yen.

The MSCI World index added 0.1 percent, building on Monday's 1.6 percent surge, its biggest single-day jump in almost 19 weeks.

"As markets head into the U.S. election, a final recalibration of risk is in train," Michael McCarthy, chief market strategist at CMC Markets in Sydney, wrote in a note. "Asia-Pacific markets were the first to adjust to the political shift, and may trade more modestly today after roaring back to life yesterday."

Overnight, Wall Street shares soared between 2.1 and 2.4 percent, recording their biggest one-day percentage gain since March 1, with the S&P 500 and the Dow Jones Industrial Average recovering all their losses from the previous week.

While polls last week showed Trump closing in on Clinton's lead, at least five major polls on Monday showed Clinton still ahead.

The dollar, which recorded its biggest one-day increase against the yen in almost four months on Monday, extended that gain to climb 0.1 percent to 104.43 yen on Tuesday.

The U.S. currency was little changed versus the Mexican peso at 18.5665, after dropping 2.3 percent on Monday, its biggest one-day drop in six weeks.

The Mexican currency is seen as a proxy for bets on the U.S. election because Mexico is considered most vulnerable to Trump's trade policies as 80 percent of its exports go to the United States.

The euro was steady at $1.10425 on Tuesday, after sliding 0.9 percent on Monday.

Crude oil futures, which rose on the revival of risk appetite on Monday, retained their gains.

U.S. crude CLc1 was flat at $44.87 a barrel, after advancing 1.9 percent on Monday, but concerns about the stronger dollar and doubts over OPEC's planned production cuts still weighed on sentiment.

Gold, which plunged 1.7 percent as demand for the safe haven ebbed, was flat at $1,281.65 an ounce early on Tuesday.

source: www.abs-cbnnews.com

Asian shares slip, dollar nurses losses as US election looms

TOKYO - Asian shares slipped on Friday and the dollar nursed losses in a week marked by growing uncertainty about the outcome of the US presidential election.

Investors have been unnerved in recent days by signs that the US presidential race between Democrat Hillary Clinton and Republican Donald Trump was tightening just days before Tuesday's vote.

That anxiety has rippled across global financial markets, with other events and data such as the looming US employment report playing second fiddle to the ramifications of a potential Trump presidency.

According to two polls released on Thursday, Clinton, who is seen as the status quo candidate by markets, maintained her narrow lead over Trump.

Trump, a political novice, has campaigned to rip up trade deals and slap high tariffs on imported goods, while there is uncertainty about his stance on US foreign policy and immigration.

"There remains scope for a significant sell-off if Trump wins," wrote Ric Spooner at CMC Markets.

"Markets are currently attempting to strike the right balance between the greater probability of a Clinton win and the possibility of a significant sell-off on a Trump victory," Spooner said. "The more the market falls in advance of the election, the greater the potential for two-way volatility and a significant bounce if Clinton does get up."

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent in early trade, down 1.4 for the week.

On Wall Street on Thursday, US stocks sagged, with the S&P 500's eighth straight losing session marking its longest streak since the 2008 financial crisis. A slump in Facebook shares and the US election jitters sapped investor confidence.

Japan's Nikkei stock index skidded 0.9 percent, reopening after a public holiday on Thursday and catching up to the previous session's losses. It was down 2.7 percent for the week, dragged down by the resurgence of the perennial safe-haven yen.

The dollar clawed back some lost ground against the yen, rising 0.2 percent to 103.17 and pushing away from the previous session's one-month low of 102.54 yen, though still down 1.5 percent for the week. The euro edged down 0.1 percent to $1.1099, up about 1 percent for the week.

The dollar index, which tracks the greenback against a basket of six rival currencies, stood at 97.177, down 1.2 percent for the week and not far from a more than three-week low of 97.041 struck overnight.

The non-farm payrolls report due later Friday is expected to show employers added 175,000 jobs in October, according to the median estimate of 106 economists polled by Reuters.

US data on Thursday showed that services industry activity cooled last month amid a slowdown in new orders and hiring, while planned job cuts by US-based employers dropped 31 percent to a five-month low. That underscored the labor market's healthy fundamentals, though more Americans filed for unemployment benefits last week.

The pound was a stand-out performer overnight, rising to a nearly one-month high of $1.2494 on Thursday after a British court ruled that the government needs parliamentary approval to start the process of leaving the European Union. That could potentially delay Prime Minister Theresa May's Brexit plans.

The pound also got a boost from the Bank of England, which scrapped its plan to cut interest rates and ramped up its forecasts for growth.

Sterling was last up 0.1 percent at $1.2471, poised to gain 2.3 percent for the week.

Oil prices took back some ground after settling down more than 1 percent on Thursday as investors reacted to a record weekly surge in US crude inventories and remained skeptical that OPEC will actually implement its planned output curbs.

US crude added 0.3 percent to $44.81 per barrel. Brent crude also rose 0.3 percent to $46.47.

source: www.abs-cbnnews.com

A Guide to Forex Platforms in 2016

The Forex markets have already enjoyed headlines during this January, so many traders expect that 2016 will prove to be a fruitful year. As the majority of recent news has focused upon the state of the currency markets, it is a good idea to highlight some of the features which are set to define the most efficient electronic platforms. Appreciating these metrics will enable investors to make the most informed decisions possible.

Competitive Minimum Entry Levels

It only makes sense that entry levels are predicted to be even more competitive when compared to 2015. This primarily arises from the fact that an increasing number of online brokers are entering into the electronic world. In order to entice new investors, we should fully expect to witness some amazing minimums during the months ahead. Still, there is much more to consider than entry levels alone. What other trends have already taken shape?

A Multitude of Currency Pairs

A sizeable portion of investment analysts seem to point to an increased amount of volatility throughout the Forex markets in 2016. It still remains to be seen whether or not this observation will come to fruition. However, many astute traders will embrace a more risk-averse stance this year. One of the most effective ways to embrace such a strategy is to diversify into different currency pairs while maintaining holdings in the major players such as the dollar, the pound and the euro. More exotic positions could prove to help supersede much of this volatility. This is also an effective approach for those who are hoping to embrace both short- and long-term options.

Mobile-Friendly Service

Mobile-responsive trading platforms should become the norm during 2016 and beyond. It has been shown that no less than 63 per cent are expected to access the Internet on a daily basis through the use of their smartphone. This will obviously translate to the individual traders themselves. Such mobile capabilities can enable one to open and close positions even while away from home or the office. The majority of astute portals have implemented mobile-friendly software within their trading platforms. Some even predict that mobile access will supersede traditional computer transactions within a few years.

Substantial Customer Service Resources

The Internet has become a very interactive environment. Thus, any website needs to display excellent levels of customer service. Not only will this tend to include access to standard telephone numbers and email accounts, but other features are likely to come into play. Thankfully training software and community features are quite commonplace on platforms like CMC Markets. Quality customer service has always been seen as a hallmark of a reputable broker. This principle is predicted to become even more entrenched during 2016.

These are some very general observations which are expected to have a great deal of relevance during the upcoming year. It is always pivotal to appreciate which platforms offer these amenities. Selecting the best trading system is just as important as choosing the correct investment strategy.

source: 20smoney.com

Asia stocks skid as crude fails to sustain bounce

TOKYO - Asian shares and the dollar surrendered their gains on Thursday as recently volatile crude oil prices seesawed lower, although European shares were still expected to mark opening gains.

Financial spreadbetters predicted Britain's FTSE 100 to open up as much as 1.5 percent. Germany's DAX was seen rising by as much as 1.1 percent, and France's CAC 40 was seen advancing by as much as 1.2 percent.

S&P500 e-mini futures ESc1 were down about 0.6 percent in late Asian trade. On Wall Street overnight, an uptick in U.S. crude oil from 2003 lows helped major indexes pull away from losses of more than 3 percent, but they still finished more than 1 percent lower.

The European Central Bank will take center stage with its regular policy meeting later in the session. Central bank policymakers are expected to hold interest rates steady but highlight increasing risks to growth and inflation, while keeping the door open for further easing measures later this year.

"With last month's December disappointment still fresh in the memory, ECB President Mario Draghi will have to convince the markets that the ECB has a plan, and the ammunition to cope with the further slide in inflationary pressures that is likely to ripple across Europe in the coming weeks," said Michael Hewson, chief market analyst at CMC Markets in London.

Crude oil succumbed to added pressure on prices and its losses continued on Thursday.

The new front-month U.S. March oil futures contract CLc1 was down 0.7 percent at $28.15 a barrel, giving up an earlier rise. Brent crude LCOc1 dropped 0.6 percent to $27.72 in Asian trade.

MSCI's broadest index of Asia-Pacific shares outside Japan erased early solid gains and teetered in and out of negative territory in afternoon trade. It was last down 0.5 percent.

Japan's Nikkei average ended down 2.4 percent, adding to its 3.7 percent plunge in the previous session.

The Shanghai Composite Index slipped 0.9 percent, while China's bluechip CSI300 index was down 0.8 percent. It has lost around 15 percent since the beginning of the year.

David Dai, Shanghai-based investor director at Nanhai Fund Management Co, said fears of a prolonged bear market were, nevertheless, overdone.

"With stocks having fallen so much, much of the risk has been priced in and another free-fall is quite unlikely, although the chance of a sustainable rebound is slim," he said.

The dollar index, which tracks the U.S. unit against a basket of six counterparts, was down about 0.1 percent at 99.013.

The dollar turned back toward a one-year low against its perceived safe-haven Japanese counterpart on Wednesday.

The greenback shed about 0.1 percent to 116.75 yen after falling to 115.97 on Wednesday, undermined by U.S. data.

U.S. consumer prices unexpectedly fell in December, suggesting inflation was more sluggish than the U.S. Federal Reserve believed.

Other Wednesday data showed a drop in housing starts and building permits last month, which led investors to pare expectations of further interest rate hikes this year.

The euro edged up about 0.1 percent to $1.0893, ahead of the ECB meeting later in the session.

source: www.abs-cbnnews.com

2016: Make This Your Year To Become A Forex Pro

With increased globalisation, economies and currencies are more interdependent on each other than ever –– presenting an opportunity for investors to become savvy forex professionals. Becoming a pro forex trader will probably take some time and needs a great deal of effort, but you should not be discouraged because ups and downs are normal. The best part is that you can sit in the comfort of your home with your laptop to trade in forex and still make a ton of money. Once you get the basics right, you’ll soon realise that forex can make you a lot of money, so give it a shot in 2016 and become a forex pro with these simple steps:

Learn The Basics

If you’re new at forex trading, then learn the market before undertaking any trading. Understand the concepts of currency trading and how existing traders sell and buy currencies. You need to learn about currency trading and the currency market. Watch online videos, read articles, talk to existing forex traders to dig deeper into the forex trading industry.

Understand Trading Systems And Platforms

You must understand trading systems and platforms used to analyse currency markets for locating trade setups. As a beginner, you’ll ideally want platforms with user-friendly information and depths of information for analyzing price charts and trade setups, backed by strong support and competitive pricing. Learning and understanding these trading systems and platforms will help tune your mind to your goal of ultimately becoming a forex pro.

Start Demo Trading

You will need to practice trading with a demo account. Demo trade for at least a few months before you are ready to undertake live trading. You must build your forex confidence with demo trading before opening a live trading account with your broker or trading platform.

Begin Live Trading

If you’re confident with your demo trading, then it’s time for you to enter the real world and start live trading. It’s important to choose a good platform and broker because you’ll want access to large numbers of currency pairs and emerging market currencies. Keep in mind that you should trade with your live account in the same way as you would trade with your demo account. If you start making real money, stick to what you’ve been doing and don’t deviate because you could end up losing money eventually.

Enjoy What You Do

While the thought of handling money can be stressful to some people, it’s important that you enjoy what you do. Remember to keep your calm and treat this as impartially as you can, so that you end up making sound decisions based on facts and not emotions.

If you’re looking for a reliable online trading platform to begin your forex trading career, then check out CMC Markets to meet your every forex need. They have over 330 currency pairs that are also available for trading as CFDs.

source: 20smoney.com

Asian markets extend rout as oil sinks below $28

Oil prices plunged below $28 a barrel early Monday, hitting energy firms and extending a rout across Asian markets after sanctions were lifted against Iran, allowing the key producer to resume crude exports.

While the decision to free Tehran of the strict embargoes had been well telegraphed, the news hammered Middle East equities Sunday, which were already under pressure as the price of oil sits at 12-year lows.

The United States and the European Union lifted the sanctions at the weekend after the UN's atomic watchdog confirmed Iran had complied with its obligations under a landmark deal last year to curb its nuclear programme.

The announcement means the country is now free to start shipping crude, adding to an already painful supply glut, which -- along with weak demand and a slowing global economy -- has seen prices slump by about three quarters since mid-2014.

On Monday a barrel of Brent oil fell 4.4 percent to $27.67 at one point before bouncing back above $28. The last time Brent closed below $28 was in November 2003.

"There is ongoing negative pressure on oil prices from oversupply," Ric Spooner, a chief analyst at CMC Markets in Sydney, told Bloomberg News.

"Iran is not new, but we've arrived now at the point where sanctions have been removed and it's going to be a key focus for the markets over coming weeks. The question is how much supply can come online in the short term."

The news was met with horror in Gulf trading, with stock markets in Saudi Arabia, Qatar, Dubai, Abu Dhabi and Kuwait all battered.

- Energy firms tumble -

Most Asian equities followed suit, with Tokyo down 1.9 percent by the break, Hong Kong down one percent, Sydney shedding 0.7 percent and Wellington 1.5 percent lower.

Shanghai stocks again swung in and out of positive territory, having plunged almost nine percent last week and almost about a fifth this year already. The benchmark index was down 0.4 percent in the morning.

Energy firms were among the big losers, with CNOOC in Hong Kong down 2.7 percent and PetroChina shedding 0.9 percent.

Sydney-listed mining giant BHP Billiton was 2.7 percent lower and Woodside Petroleum retreated two percent. Inpex slipped 1.7 percent in Tokyo.

The Chinese market was given some support by the People's Bank of China's decision to increase the yuan currency's rate against the dollar. The yuan's recent weakness has been a key contributor to a rout in global markets that has characterised the start of 2016.

Markets are now nervously awaiting the release Tuesday of Chinese economic growth data, with analysts surveyed by AFP forecasting the slowest rate in 25 years, and a further slowdown this year.

Worries about the state of China's economy, a crucial growth engine for the rest of the world, have scythed markets from Asia to the Americas over the past two weeks, with Beijing's ability to handle the crisis being brought into question.

- Key figures around 0230 GMT -

Tokyo - Nikkei 225: DOWN 1.9 percent at 16,814.10 (break)

Shanghai - Composite: DOWN 0.4 percent at 2,889.04

Hong Kong - Hang Seng: DOWN 1.3 percent at 19,274.64

Euro/dollar: DOWN at $1.0905 from $1.0916 Friday

Dollar/yen: UP at 117.20 yen from 116.96 yen

New York - Dow: DOWN 2.4 percent at 15,988.08 (close)

London - FTSE 100: DOWN 1.9 percent at 5,804.10 (close)

source: www.abs-cbnnews.com

Asian shares mixed as US jobs report looms, ECB soothes

SINGAPORE/TOKYO - Asian shares were mixed on Friday as caution about a U.S. jobs report jostled with signals from the European Central Bank that it is willing to take further steps to shore up the European economy.

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent after rising in early trade. They've fallen 3.4 percent this week.

Japan's Nikkei fell 0.9 percent, extending losses this week to 6.0 percent.

Wall Street shares ended up on Thursday, though they pared back much of earlier gains.

The S&P 500 gained 0.1 percent but the Nasdaq Composite ended 0.4 percent lower.

"Markets sold off after the early bounce in accordance with the U.S. equity markets," said Nicholas Teo, analyst at online trading platform provider CMC Markets in Singapore. "Only one theme on every trader's mind today - U.S. jobs report tonight. And how that may possibly play on the Fed’s September rate decision."

A strong jobs number could cement optimism on the global economy and boost share prices but it could rekindle speculation of an early rate hike, which could hurt risk assets, particularly in emerging economies.

Economists polled by Reuters expect the U.S. economy to have produced 220,000 new non-farm jobs last month, continuing the robust employment creation of the past five years, while average hourly earnings are predicted to have risen by a modest 0.2 percent, as they did in July.

A drop in average prices charged by U.S. service businesses in August after 25 months of increases supports the case for a delay in rate hikes even though the overall service sector expanded at the fastest pace since May.

While the Fed has so far stuck to its script that interest rates will likely be raised this year, the ECB is tilting towards more easing.

It cut its growth and inflation forecasts on Thursday, warning of possible further trouble from China and paving the way for an expansion of its already massive 1 trillion-euro plus asset-buying program.

For the first time, ECB President Mario Draghi also said explicitly the bond-buying program may run beyond September 2016 and the bank may adjust its size and composition.

"It looked as if the ECB is preparing stimulus," said Masahiro Ichikawa, senior strategist at Mitsui Sumitomo Asset Management. "As it cut its growth projections and uncertainty over emerging economy is rising, it probably had to show that it is ready to take action."

That pushed down German 10-year yields, the benchmark for euro zone borrowing costs, to 0.725 percent, compared to a two-week high of 0.82 percent hit on Monday.

The euro also fell to a two-week low of $1.10875 and it last fetched $1.1128. Against the yen, the common currency hit three-month low of 133.135 yen.

In commodities markets, which have been battered by fears of a hard landing in China, trade remained highly volatile.

After gains in early trading, Brent crude futures slipped 0.5 percent to $50.44 per barrel.

Copper fell 0.8 percent to $5,203 per tonne after surging to $5,314 on Thursday, its highest in over three weeks, as bearish investors closed out positions ahead of U.S. job data.

Aluminum also shot up, touching a one-month peak on the London Metal Exchange on Thursday.

China's financial markets were closed on Friday for a national holiday.

source: www.abs-cbnnews.com