Trade stocks on line

Technology has outdone itself these days when it comes to trading stocks online. May it be in simple means of communicating or in much more complicated trades or money making transactions, the use of the computer has become very apparent in most traders lives. In stock trading, the rise of the market transactions online has become quite easy over many years now. Many institutional investors prefer to use sophisticated computer technology to assist them in making investment decisions. And many people argue that computers may just be better at picking stocks than traditional human brokers. Normally this is true but the brokers can trade much higher volume the average trader. Although computers may perform a lot of sophisticated utilities especially at the exchanges, you may wonder whether or not these can really be better aids for trading as compared to traditional brokers. At the end of the day, remember that what technology has to offer are mere recommendations and ultimately, the decision is still up to you.

Gold,,GBP/USD

Gold has posted slight losses on Friday, as the spot price stands at $1207.10 per ounce late in the European session. On Thursday, the ECB left interest rates unchanged but said that it would begin purchasing asset-based securities (ABS) in the fourth quarter of 2014. Over in the US, todays highlight is the Nonfarm Payrolls, which should be considered a market-mover. As well, the US will release the unemployment rate, Trade Balance and the ISM Non-Manufacturing PMI. Recent sharp gains by the US dollar are weighing on gold prices, as a stronger dollar diminishes the metal’s appeal as an alternative asset to the dollar. The dollar enjoyed a spectacular September, as gold prices have tumbled over 6% during this period. With the Fed scheduled to wind up QE and attention shifting to the timing of an interest rate hike, gold could continue to move lower.
It has been a week to forget for the pound, as GBP/USD has shed over 200 points. Early in the European session, the pair is trading at the 1.60 line, its lowest level in three weeks. On the release front, UK Services PMI dropped to 58.7 points. In the US, Nonfarm Employment Change and the unemployment rate sparkled and the pound has dropped sharply in response.
British Services PMI softened in September. The index dropped to 58.7 points, down from 60.5 points a month earlier. The estimate stood at 59.1. Earlier in the week, Construction PMI improved to 64.2 points last month, beating the estimate of 63.7 points. This marked a fourth straight increase and the indicators highest level in 8 months. However, Manufacturing PMI disappointed at 51.6 points, its lowest level in 16 months.

USD/CHF Daily

 USD/CHF  Daily
13::10 GMT - Earlier uptick was capped ahead of the 0.9596 high and prices have dropped back. Sup. is at the day low at 0.9523 closely  followed by 0.9513 and 0.9487. Res. is at 0.9580. More ranging action likely near term.N.I.

USD/CAD

 USD/CAD hovered in a tight 1.1200-1.1220 range overnight before slipping modestly in North American trading. Pair last at 1.1195 vs 1.1196 late Tuesday. Many market watchers expect the Canadian dollar to continue its retreat in the face of the broadly strengthening greenback, but BMO says it's actually trading moderately higher than where its key drivers, including the two-year and five-year swap rate differentials, predict it should. "General USD demand and interest rate differentials have basically worked in tandem to push USD/CAD higher since Monday," BMO says. Firm is of the view that the loonie is somewhat undervalued, but sees USD/CAD likely staying above strong support between 1.1200 and 1.1150.

Gold remains under pressure

Gold remains under pressure on Tuesday, as the metal continues to lose ground to the strong US dollar. In the European session, the spot price stands at $1207.40 per ounce. On the release front, todays key event is CB Consumer Confidence, with the markets expecting another strong reading above the 90-point level.The sharp gains by the US dollar is weighing on gold prices, as a stronger dollar diminishes the metal’s appeal as an alternative asset to the dollar. The dollar has enjoyed a spectacular September, and gold prices have tumbled over 6% during this period. We could see gold dip below $1200, which last occurred in December.

USD/CAD

Consolidation was the name of the game on CAD today, USD/CAD effectively contained in the 1.1250-1.1290 range, while EUR/CAD held above 1.4265. Canadian payrolls release due out tomorrow has been volatile lately, not surprising considering it's a household survey, similar to the very volatile US household employment survey. A large deviation from the expectation may send the market bouncing around but this will change little from the BoC's standpoint as the bank is all but certain to keep rates unchanged on Oct 17. The US employment report and USD sentiment will probably dominate tomorrow. We are still not fully convinced by the latest breakout and would like to see a decisive break of 1.1346 before declaring an end to the current 2-month range

EUR/USD Daily

 EUR/USD   Daily
14::10 GMT - Recovery has been capped in the 1.2700/20 res. band and  prices have settled back. 1.2685/90 should be sup. now and this should hold if the recovery is going to extend. If it fails, a retest of 1.2661 should follow.N.I.