| Derek Frey's Outlook
Derek Frey, Head Trader at Odom & Frey Futures Options and FOREX, will walk you through his weekly FOREX newsletter and offer you extensive insight into how, where, and why he feels the currency markets will move for the week ahead. The great part about this is, it is an open session in which he will answer any and all market related questions, giving you the chance to pick the brain of an experienced trader.Derek has been trading for over 15 years and specializes in Options. He has been a regular contributor here at FXstreet.com since 2004.Join him free and find out why traders around the world listen to his opinion every week. Who is Derek Frey? Derek Frey has been a futures trader since 1989 and is Head Trader and partner at Odom & Frey Futures & Options, a firm that specializes in high probability, defined risk option spread trades for the futures markets.
Oil price strikes record $US90
CRUDE oil prices struck a record $US90 a barrel in after-hours trading in New York overnight, amid increased tensions between Turkey's government and Kurdish rebels in northern Iraq. Traders said a weak US dollar and supply jitters had also stoked the price surge. The price gains came after New York's main oil futures contract, light sweet crude for delivery in November, had jumped $US2.07 to a record close of $US89.47 a barrel. London prices also pushed higher in after-hours trading, as Brent North Sea crude for December delivery soared to $US84.88 after the contract had earlier settled $US1.47 higher at $US84.60. Oil prices have pushed higher this week amid geopolitical angst related to the Turkey-Iraq border and a weakening dollar, which makes dollar-priced commodities such as oil cheaper for buyers with stronger currencies and therefore lifts crude demand.
Dollar - How Low Will The Fed Go?
Nevertheless, the yen may have an opportunity to gain this week, as risk aversion trends remain the primary driver of the low-yielding currency. As a result, traders should keep an eye on global stock markets, as a plummet in equities could push USDJPY back down towards 109.00. – TB Can Cable Hold Above Critical Support at 2.02? Last week we questioned whether the Bank of England would opt to cut rates in December, and indeed, they did. The BOE cut rates by 25bp to 5.50 percent for the first time in more than two years, in line with what futures markets were pricing in but against consensus estimates of economists polled by Bloomberg News. In the bank's policy statement, the MPC noted that signs had emerged that growth has started to slow, and that downside risks were mounting as "conditions in financial markets have deteriorated and a tightening in the supply of credit to household and businesses is in train." Meanwhile, the BOE judged that inflation would hold above target in the short-term, but that a slowing of demand growth would pull inflation "back to target in the medium term." The minutes of this meeting will be published on December 19, but with Cable bouncing from critical support at 2.02 following the decision, the markets have judged the BOE's statement as somewhat neutral as the MPC is not likely to continue easing monetary policy in January given inflation risks.
CME up after volume jumps
After a halting start, the year-end rally gained momentum, with stocks rising roughly 7 percent in less than two weeks.
Among winners, shares of CME Group Inc., the world's largest futures exchange, shot higher after November volume advanced 41 percent on rising volatility.
Traders saw their business boom as economic uncertainty caused investors to hedge or speculate with futures contracts tied to equity indexes and interest rates on the Chicago Mercantile Exchange and Chicago Board of Trade, both owned by CME.
.
NCEL launches awareness drive for rice trading
KARACHI: National Commodities Exchange Limited (NCEL) on Monday launched a month-long pre-launch programme and investor awareness drive ahead of the commencement of listing and trading of its IRRI-6 Rice Futures Contract.
Managing Director Assim Jang said NCEL will be in Kandhkot, in upper Sindh, holding the first of investor awareness seminars aimed at informing the potential participants, including growers, millers, traders and exporters of the details of Futures Trading in IRRI-6 rice and encouraging their participation.
We have chosen these areas to start out investor awareness drive as they are the trading hubs of IRRI-6 rice, Assim said adding, we feel it is important to reach out to the key participants in our market on a one-to-one basis, they will not only ultimately benefit from this new contract, but also will provide NCEL with the necessary depth and liquidity, he added.
Using CCI and Stochastics For Long and Short Term Forex Trading
Sam Seiden brings over 15 years experience of equities and futures trading which began when he was on the floor of the Chicago Mercantile Exchange. He has traded equities, futures, interest rate markets, forex, options, and commodities for his personal interests for years and has educated hundreds of traders and investors through seminars and daily advisory services both domestically and internationally.
Sam has been involved in the markets since 1991 both on and off the floor of the Chicago Mercantile Exchange. He has served as the Director of Technical Research for two trading firms and regularly contributes articles to industry publications. Sam is known for his trading, technical research, and educational guidance. Software instructions HotComm is the multimedia communication tool we will be using to host our New Live Market and Education Sessions.
Traders Bracing For Slump Drive Up Platinum, Wheat, Coffee And Cocoa
Platinum and spring wheat hit record highs Thursday and arabica coffee and cocoa set new trading peaks as well, as investors in commodities pursued markets deemed less vulnerable to the slowing U.S. economy. Copper, an economically sensitive base metal, overcame jitters over U.S. growth by reacting to Wednesday's cut in interest rates. Traders said copper was also inspired by Thursday's rebound in Wall Street stocks and lingering production issues in China. But broad commodity futures indexes closed mixed, with the Reuters-Jefferies CRB and Dow Jones-AIG up and the S&P GSCI down. U.S. crude oil also fell, closing 58 cents lower at $91.75 a barrel on fears of slowing growth in the world's largest economy and the leading energy-consuming nation. Investors in energy were also sidelined ahead of an OPEC meeting on production quotas set for Friday.
US Commodities: Gold Up; Platinum Soars; Wheat Down Sharply
In grains trading, most wheat futures closed sharply lower Monday after the exchanges increased margins and daily trading limits and index funds began to roll positions out of nearby contracts, traders and analysts said. Minneapolis Grain Exchange March and May wheat were the exceptions, with the March contract soaring to the new, daily exchange-imposed limit of 60 cents. MGE May wheat ended slightly below limit-up. Chicago Board of Trade March wheat fell 45 cents to $10.48 per bushel. Kansas City Board of Trade March wheat dropped 56 1/2 cents to $10.83 3/4, and MGE March wheat surged 60 cents to $16.13. Activity was volatile after all three exchanges said late Friday they would raise their daily trading limits to 60 cents from 30 cents, effective Sunday.
Soybeans Dragged Lower By A Nickel As Wheat Prices Reverse And Plunge
Chicago Board of Trade soybeans fell on Tuesday, following the sell-off in wheat, traders said. Also weighing on the soy market was call option selling. "We followed wheat up and now we're following it back down. As far as fundamental inputs, there's not much new to go on," one CBOT trader said. March soybeans dipped to their 10-day moving average of $13.06-3/4 per bushel before closing 5 cents lower at $13.21. The deferreds ended 3 to 14 cents weaker. Traders noted that MF Global sold 1,500 July soybean $16 calls. Chicago wheat markets dived as the combination of expanded trading limits and higher futures margins broke the deadlock in the limit-up moves that occurred last week and caused all U.S. wheat markets to lock which halted trading.
|
