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Mike Baghdady explains why investors would do well to hold off on sterling for the time being and look instead to the mayy greenback – down but not out, it’s hit the floor and now, the only way is up… In my 33 years of trading, I’ve never seen such carnage around the US dollar. The downturn that saw the collapse and near-collapse of some of the world’s largest financial institutions, changed the game for all of us. But just months later, the US Treasury’s £430bn bail-out is being repaid

(Chart courtesy of FX Solutions’ FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; 50-period simple moving average in light blue.) 2/08/2010 – GBP/USD – Price action on GBP/USD, a daily chart of which is shown, has finally begun to show a bearish emergence from the sideways consolidation that has characterized this currency pair on a long-term basis for several months now. A clean

Forex options markets volatility forecasts continue to trend higher, pointing to major moves in the US Dollar and other major currencies through the coming weeks’ trade. In fact, implied volatility levels on 3-month Euro/US Dollar options now trade near their highest levels since July, 2009 and underline market fears of continued volatility.

The UAE investors continued actively trading in foreign exchange (forex) currency markets in 2009 even as worldwide volumes took a hit, said a senior executive of a Swiss-based online foreign currency broker.

Spot Gold SPOT GOLD  closed @ 10668 which was ABOVE the open and was within prior day’s trading range. The High was PRECISELY at Precise Trader’s Res Zone 1 and the Low was 2.1 Dollars from Precise Trader’s Sup Tgt 3.   The Hourly Oscillators are Bullish but Weak and the price is Below the MA, so CAUTIOUS  approach is needed for the Bulls. Hourly Trend is Corrective Down while 10865 holds and Daily Trend is also Corrective Down while 10985 holds, so expect the price 

S. Africa’s gold, forex reserves decline in Jan.

S. Africa’s gold, forex reserves decline in Jan.

The country’s forex reserves declined for the second consecutive week as foreign institutional investors turned net sellers in the equity markets.

US Change in Non-Farm Payrolls M/M (Jan) Exp. +15K (Prev. -85K) Nov. +4.00K Morgan Stanley +75K                 Barclays Capital +25K JP Morgan +20K                          UBS -20K Goldman Sachs -25K                    Deutsche Bank +75K Bank of America