Crude oil rose for a fourth day in New York after Chevron Corp. halted part of its Nigerian output and Goldman Sachs Group Inc. increased oil price forecasts. Chevron's unit said yesterday it declared force majeure on onshore wells in the country after a pipeline was breached on June 19, shutting production. Royal Dutch Shell Plc closed the Bonga field in Nigeria June 19 after militants attacked a production vessel at the offshore facility. ``The market is concerned that supplies are still tight,'' said David Moore, a commodity strategist for Commonwealth Bank of Australia Ltd. Crude oil is currently trading at $137.400 as of 8:17 am, GMT.
Wednesday, June 25, 2008
Saturday, June 21, 2008
Gold slumps after profit-taking
Gold decreased on the early trading as investors took profit and as oil prices corrected to lower levels
Joana Fonseca 20 June 2008
Joana Fonseca 20 June 2008
Gold decreased on the early trading as investors took profit and as oil prices corrected to lower levels; Gold traded at $903.90 an ounce at 8:00am GMT. Gold slightly slumped on the early trading, after it had reached $909.40 on Monday, as demand for a hedge against inflation was diminished by a decrease in oil prices. According to technical indicators, “a break now back below $886 will refocus the market back to the downside”, said Stephen Malyon, strategist at Scotia Capital Inc. in Toronto. “Above $909 opens up May's high of $935.”
Finotec Analysis Team20 June 2008
Finotec Analysis Team20 June 2008
Oil prices waiting for Saudi Arabia meeting on Sunday
Oil future trend is highly dependent on the Saudi Arabia meeting on Sunday between consumers and producers, where they will discuss hiking oil prices
Joana Fonseca 20 June 2008
Joana Fonseca 20 June 2008
US crude oil futures lost more than $4 a barrel yesterday after China had signal it will raise fuel prices, leading to concerns it would decrease oil demand. However, oil increased on the early trading, after a report showed Israel is preparing a bombing attack on nuclear facilities in Iran, OPEC’s second larger producer. Crude oil traded at $133.27 a barrel at 8:00am GMT. Oil future trend is highly dependent on the Saudi Arabia meeting on Sunday between consumers and producers, where they will discuss hiking oil prices.
Finotec Analysis Team20 June 2008
Finotec Analysis Team20 June 2008
Avalon Launches New Trading Software
Avalon Capital Holdings Corporation and its subsidiary, Traders Development LLC, announced the launching of a new proprietary trading software on May 6, 2008. ‘Avalon FX Pro 4.1’ is designed to help companies with their existing trading platforms by providing them a front end trading terminal. It is a stand alone trading terminal that is based on the FX Pro 4.1 Technology version and it can operate independently from the FX Pro 4.1 Back Office. The company claims that the software is capable of connecting with all reputable clearing houses not do the clearing houses have to use the program on their end for successful trading transactions.
Says Dr. Vladimir Karpenkov, CEO of Avalon Capital Holdings, I also think that the trading houses will see Avalon FX Pro Direct 4.1 as a cost-saving measure, which will reduce their technology expenditures while allowing them to focus on the most important thing: customer and product support. At the same time, when given the choice between trading with a clearing house’s existing trading platform and the Avalon FX Pro Direct 4.1, we are confident that many traders will select the Avalon FX Pro Direct 4.1.” The program is said to be sophisticated, intuitive, and more user-friendly when compared to other trading software systems.
Says Dr. Vladimir Karpenkov, CEO of Avalon Capital Holdings, I also think that the trading houses will see Avalon FX Pro Direct 4.1 as a cost-saving measure, which will reduce their technology expenditures while allowing them to focus on the most important thing: customer and product support. At the same time, when given the choice between trading with a clearing house’s existing trading platform and the Avalon FX Pro Direct 4.1, we are confident that many traders will select the Avalon FX Pro Direct 4.1.” The program is said to be sophisticated, intuitive, and more user-friendly when compared to other trading software systems.
UK Venture Created For Trading
The United Kingdom is getting a new chance to do some market trading as a new business venture appears on the Forex playing field. The Rosenthal Collins Group, LLC and the GAIN Capital Group, LLC, are joining together in an effort to open up operations and opportunities in the United Kingdom. Rosenthal Collins is one of the trading community’s leaders in independent futures, a clearing firm for this type of trading. GAIN is a leader in the market of Forex trading.
The new entity will be known as RCG GAIN Limited and they plan on offering online Forex and futures trading to self-directed investors that live in the United Kingdom. They intend to expand their business in the European Union upon seeing how the firm does with their English clients. So far, RCG GAIN has received authority from the Financial Services Authority in the United Kingdom to offer their services.
The two firms are delighted over the partnership and feel that they are embarking on an important trading venture. They feel that they compliment each other with their combined expertise in futures and other related technology concerns. With strong financial foundations, GAIN’s industry leading breakthrough in Forex, and their shared entrepreneurial culture, their clientele is going to get the best of both worlds as well as high customer service.
The venture has been formulated so that RCG will provide futures services while GAIN will provide advanced Forex trading technology. GAIN will also be leading the joint venture in anything that has to do with marketing. They will share a corporate staff that will be overseen by an executive officer and compliance officer, both of whom will report to a combined board of directors. In addition to their brokerage and trading operations, RCG GAIN Limited also plans on future collaborations that will have to do with cross-marketing initiatives.
According to Maureen Downs, RCG’s president, “We see forex as a very attractive growth area, and view this endeavor as an opportunity to expand our long-established futures services. The UK venture with GAIN represents the latest step in our global growth strategy, and we look forward to identifying further opportunities throughout Europe as this initiative takes hold.”
Currently, Forex is the most actively traded market in the world, exceeding $3.2 trillion on a daily basis. It has gained acceptance on an international level and the volume of trade increased 500% over a five year period.
The new entity will be known as RCG GAIN Limited and they plan on offering online Forex and futures trading to self-directed investors that live in the United Kingdom. They intend to expand their business in the European Union upon seeing how the firm does with their English clients. So far, RCG GAIN has received authority from the Financial Services Authority in the United Kingdom to offer their services.
The two firms are delighted over the partnership and feel that they are embarking on an important trading venture. They feel that they compliment each other with their combined expertise in futures and other related technology concerns. With strong financial foundations, GAIN’s industry leading breakthrough in Forex, and their shared entrepreneurial culture, their clientele is going to get the best of both worlds as well as high customer service.
The venture has been formulated so that RCG will provide futures services while GAIN will provide advanced Forex trading technology. GAIN will also be leading the joint venture in anything that has to do with marketing. They will share a corporate staff that will be overseen by an executive officer and compliance officer, both of whom will report to a combined board of directors. In addition to their brokerage and trading operations, RCG GAIN Limited also plans on future collaborations that will have to do with cross-marketing initiatives.
According to Maureen Downs, RCG’s president, “We see forex as a very attractive growth area, and view this endeavor as an opportunity to expand our long-established futures services. The UK venture with GAIN represents the latest step in our global growth strategy, and we look forward to identifying further opportunities throughout Europe as this initiative takes hold.”
Currently, Forex is the most actively traded market in the world, exceeding $3.2 trillion on a daily basis. It has gained acceptance on an international level and the volume of trade increased 500% over a five year period.
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