Dollar firms on U.S. industrial output data, eyes Fed meeting

Investing.com – The dollar rose against most major currencies on Monday after industrial production data beat expectations though gains were limited as investors remained camped on the sidelines to await the Federal Reserve's decision on monetary policy on Wednesday.

In U.S. trading on Monday, EUR/USD was up 0.01% at 1.3807.

The Federal Reserve reported on Monday that U.S. industrial production rose by a 0.6% last month, above expectations for a 0.4% rise and the fastest increase in seven months. 

The news gave the dollar some support, though investors remained cautious ahead of the Fed's upcoming two-day policy meeting that opens on Tuesday.

A string of disappointing economic reports has cemented expectations that the central bank will maintain the current pace of its USD85 billion in monthly asset purchases into early next year.

Asset purchases aim to spur recovery by driving down long-term borrowing costs, weakening the dollar in the process.

Still, the upbeat industrial output number gave investors some hope that sooner or later, the Fed will begin to taper the pace of its stimulus program, which would give the dollar support afterwards. 

The pair EUR/USD started yesterday a powerful bullish rally.
The price has validated the upward breaks of 1.37 nad 1.3750, offering new buy signals.
The EUR/USD is back on the upper bands of its medium term bullish channel (pink lines).
A double top has been made on the major resistance at 1.38.
The upward movement is led by a bullish slant (blue line on the 1H chart).

I would advise traders to trade only Long positions (buy) as far as the price is above 1.3750.
A break of 1.38 will offer a new buy signal for an extension of the rally towards 1.3850.

In case of return below 1.3750, we will then advise to wait a breakout of 1.37 before to trade short positions (sell).

NB : traders whose trading strategy is more aggressive could trade the EUR/USD according to 1.3750 (long above ; Short below).

U.S. stocks end lower on profit taking, mixed earnings; Dow dips 0.35%

Investing.com – U.S. stocks fell on Wednesday after investors locked in gains from Tuesday's rally and sold for profits on concerns that despite bullish monetary forces supporting stocks, other fundamentals may be facing headwinds.

At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.35%, the S&P 500 index fell 0.47%, while the Nasdaq Composite index fell 0.57%.

Stocks rose on Tuesday after the Department of Labor reported that the U.S. economy added 148,000 jobs in September, well below expectations for an increase of 180,000. 

The unemployment rate ticked down to a four-and-a-half year low of 7.2% from 7.3% in August due in part to more people dropping out of the labor force, which also weighed on the greenback.

The disappointing data fueled expectations for the Federal Reserve to continue stimulating the economy to boost job creation by buying bonds each month.

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Just like the other three trade alerts this week, Tuesday's Trade of the Week (PUT/SELL on Apple) was a winner, brining in 75% in profits for those that placed it.  After opening above the listed entry price, Apple leaked in value throughout the day, closing comfortably below our entry price.  Check out the daily chart of Apple below to see our gorgeous winning alert.

Gold soars as weak U.S. jobs report cements calls for loose Fed policy

Investing.com – Gold prices soared on Tuesday after a disappointing U.S. September jobs report strengthened expectations for the Federal Reserve to put off plans to wind down stimulus programs probably until early 2014.

Stimulus tools often weaken the dollar to drive recovery, making gold an attractive hedge.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,342.00 during U.S. afternoon hours, up 1.99%.

Gold prices hit a session low of USD1,310.10 a troy ounce and high of USD1,344.70 a troy ounce.

Gold futures were likely to find support at USD1,310.10 a troy ounce, the earlier low, and resistance at USD1,350.30, the high from Sept. 29.

The December contract settled up 0.09% at USD1,315.80 a troy ounce on Monday.

The dollar sank and gold soared after the Department of Labor said the U.S. economy added 148,000 jobs in September, well below expectations for an increase of 180,000. 

The previous month’s figure was revised up to a gain of 193,000 from a previously reported increase of 169,000.

July's figure was revised down to 89,000 from 104,000.

There's not much more satisfying than starting the trading week off strong, and that's exactly what we did on Monday.  Monday's two GOLD alerts (Sell the SP 500 and BUY MCD) were both winners, bringing in 225% to our trading accounts in about 12 hours.  Not bad for a day's work, huh?  Are you following our GOLD alerts?

Last weeks Trade of the Week profited very comfortably, bringing in an easy 75% return to the traders that followed the alert.  On Monday, the BUY/CALL alert told us to purchase GOLD with an end of week expiration.  As friday expiration time rolled around, GOLD was well above the entry price, posting a nice 75% profit to all of us.  Monday brought us another Trade of the Week, so don't miss out.

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U.S. stocks up on D.C. deal, talk of Fed staying loose; Dow slips 0.01%

Investing.com – U.S. stocks erased earlier losses on Thursday after U.S. lawmakers agreed on a spending package to reopen the government and avoid default, while expectations for the Federal Reserve to keep policy loose to ensure the D.C. deadlock won't drag on recovery also brought stocks up from earlier lows.

At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.01%, the S&P 500 index rose 0.67%, while the Nasdaq Composite index rose 0.62%.

The U.S. Congress passed a bill to reopen the government and raise the debt ceiling on Wednesday, just hours ahead of a deadline that would have opened the doors to possible sovereign debt defaults.

The deal will fund the government until Jan. 15 and raise the government borrowing limit until Feb. 7. 

The deal failed to boost spirits in equities markets earlier, as soft earnings from IBM and Ford auto sales spooked investors.