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Archive for the ‘CFD News’ Category

Jun
30

Gold ‘a safe haven’ in CFD trading

June 30th, 2010

The popularity of gold among investors continues to remain as concerns over economic instability push people to bullion.

CFD trading could today (June 30th) witness a second day of investor interest, after Reuters yesterday reported by 15:25 BST, spot gold was priced at $1,232.70 (£820.9) per ounce on trading platforms.

According to the international news agency, gold is expected to have been the best-performing metal during the second quarter.

Citigroup analyst David Thurtell said: "It could easily get there if economic data is disappointing."

In times of financial uncertainty, CFD trading often sees a rush to bullion, which is seen as a safe haven and helps to protect assets that might otherwise be at risk.

This may have been highlighted by last week’s record high on June 21st.

However, Reuters revealed gold dipped slightly lower – and the euro rose – today after the European Central Bank revealed it had given less-than-expected loans to banks to help their stability.

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Posted in CFD News, Trading News |

Jun
30

CFD spread users ’should diversify portfolio’

June 30th, 2010

A new report has revealed investors should diversify their income portfolios.

CFD spread users may wish to take note of the advice offered by JP Morgan Asset Management, which noted ten companies account for over half of FTSE All Share dividend income.

An "historic reliance" on a few domestic stocks should be ended, with emerging market companies a particularly good investment to make, the organisation stated.

Individuals operating within the CFD spread sector were told emerging markets have the potential for capital growth and may prove to be an ideal alternative to UK, well-known companies.

Head of investment trusts at JP Morgan Asset Management David Barron said: "UK investors are experiencing low interest rates, as well as an increasing concentration of income from just a handful of UK stocks."

He added many firms in emerging markets have steered through the recession and currently enjoy strong balance sheets.

Emerging markets include India, China, Mexico, Russia and South Africa.

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Posted in CFD News, Trading News |

Jun
23

Crude oil falls in CFD trading

June 23rd, 2010

Crude oil futures in the US have once again fallen today (June 23rd) after data from the National Association of Realtors revealed a drop in existing homes sales.

CFD trading witnessed a second day of crude oil futures plummeting, with sales of existing homes reported as decreasing by 2.2 per cent in May, something many analysts and investors took as a sign of the US struggling to sustain a recovery.

News of the slide in crude oil futures came after a moratorium on deepwater offshore drilling was lifted.

The American Petroleum Institute (API) commented: "With this ruling, our industry and its people can get back to work to provide Americans with the energy they need and do it safely and without harming the environment."

It called the moratorium "an initial reaction" to safety concerns about natural gas and offshore oil operations.

Recent API data showed US gasoline deliveries for May fell by 0.4 per cent from last year to stand at an average 9.05 million barrels a day, the lowest level seen in May since 2003.

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Posted in CFD News, Trading News |

Jun
23

European shares fall in CFD trading

June 23rd, 2010

A second consecutive day of falls in European shares has been seen this morning (June 23rd).

Nine days of gains ended as the FTSEurofirst 300 fell 0.9 percent to 1,041.05 points in CFD trading by 08:06 BST, Reuters reports.

The previous session had closed 0.4 per cent lower following concerns from investors about the unexpected drop in US home sales – data revealed a fall of 2.2 per cent -
and the impact on economic growth.

Ecomomists had expected a rise to be shown as pending home sales, which usually lead resales by a month or two, increased in April.

"The whole financial crisis started with the US housing market and the last thing we want to see is a renewed weakness in the US housing market," said Mike Lenhoff, chief strategist at Brewin Dolphin.

Declines of between 1.3 per cent and 1.7 per cent were seen by Credit Agricole, BNP Paribas, Barclays and Societe Generale, with the Stoxx Europe 600 banking index shedding 1.3 per cent.

Earlier this week, the FTSE Eurofirst 300 benchmark index reported a ninth consecutive advancement.

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Posted in CFD News, Trading News |

Jun
22

Gold falls in CFD trading

June 22nd, 2010

Investors have cashed out of gold futures after a "record run", it has been said.

CFD trading saw gold futures experience a second day of losses today (June 22nd), MarketWatch reported.

On the Comex division of the New York Mercantile Exchange, gold for August delivery fell 0.4 per cent to stand at $1,235.70 (£838.84) an ounce.

According to the publication, it marks the worst one-day fall since the middle of last month.

One reason for the plummet is that following China’s central bank statement to allow the yuan to trade more flexibly with the US dollar, investors rushed to industrial commodities, high-yielding currencies and stocks.

Bullion closed at $1,268.30 an ounce on Friday, the highest since gold futures trading was launched on the Comex in the 1970s, the online resource said.

Yesterday Bloomberg noted gold was heading for its best results since 1920, with a potential tenth annual gain if the commodity experiences a 15 per cent increase this year.

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Posted in CFD News, Trading News |

Jun
22

Crude oil slides in CFD trading

June 22nd, 2010

Crude oil fell for the first time in three days today (June 22nd), as optimism the global economic recovery would be strengthened by China’s increased flexibility of the yuan depleted.

Bloomberg reports that crude for delivery in July dipped by 88 cents in CFD trading , or 1.1 per cent, to $76.94 (£52.20) a barrel in electronic trading on the New York Mercantile Exchange at 10:16 BST.

There is some concern that growth in Europe and China will be slow, leading Goldman Sachs Group to lower its price forecasts for crude oil due to the ‘fragile’ market.

"Commodity markets are generally rebounding strongly off their lows but sentiment remains fragile on European and Chinese concerns," said analysts led by New York-based Allison Nathan.

Yesterday, US crude oil for July delivery rose to $78.45 following a $1.27 increase on trading platforms, the highest level since May 6th.

The American Petroleum Institute is scheduled to release its supply report today.

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Posted in CFD News, Trading News |

Jun
21

CFD trading reveals gold increase

June 21st, 2010

Gold has risen to record levels in London and New York following speculation there will be an increased demand for raw materials.

Chinese consumers are set to benefit after the third-largest economy in the world proposed to allow the yuan to move higher, as it will make commodities in other currencies less expensive, reports Bloomberg.

Jesper Dannesboe, a senior commodity strategist at Societe Generale SA in London, said: "Gold is benefiting from other commodities."

He added the news will act as "a catalyst, a trigger for buying today. People are still worried about sovereign debt levels".

Gold is heading for its best results since 1920 and with a 15 per cent increase this year is heading for a tenth annual gain.

During CFD trading gold for immediate delivery added as much as $8.50 (£5.72), or 0.7 percent, to increase to $1,265.30 an ounce and traded at $1,261.38 at 09:17 BST.

This surpassed the previous all-time high of $1,262.50 set on June 18th.

Earlier this week, managing partner of Baker Steel Capital Managers David Baker told Bloomberg gold is a safe-haven commodity.

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Posted in CFD News, Trading News |

Jun
18

Gold hits record high in CFD trading

June 18th, 2010

Worries over sovereign debt have helped the price of gold hit a new record high during commodity trading today (June 18th).

It was up to $1,259.25 (£850.21) per ounce in CFD trading as investors sought to purchase the precious metal to protect their assets, Reuters reports.

Gold is seen as a safe-haven asset that is popular at times of economic uncertainty and it has become increasingly popular due to the debt problems faced by countries such as Greece and Spain.

"Sovereign debt worries, central banks raising their holdings and record low interest rates keep attracting new buyers to gold," explained Ole Hansen, senior manager for Saxo Bank.

By 14:54 BST its price had reduced slightly to $1,256.25 but Mr Hansen explained it is likely to stay strong for the foreseeable future, as its value will be boosted by both its safe-haven attractiveness and a weaker dollar.

The fresh high exceeded that set earlier in June, which in turn had beaten the previous high set in early December 2009.

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Posted in CFD News, Trading News |

Jun
18

Copper down in CFD trading

June 18th, 2010

Concerns surrounding the strength of economic recovery in the US has caused early gains in the value of copper to be cancelled out and put the commodity on track to record a weekly decline.

Bloomberg reports the metal has fallen by 0.4 per cent in CFD trading so far this week and was priced at $6,451.75 (£4,357.76) per tonne by 10:21 local time in Singapore.

The release of downbeat economic data in the US had caused the pace of recovery in the country to be questioned.

Figures show construction of new housing projects has fallen by the most since March 2009, while jobless claims have risen and the Federal Reserve Bank of Philadelphia said manufacturing in the region it covers has grown at the slowest pace since last August this month.

Analyst for First Futures Brokerage Guo Weijun was quoted as saying "the global economic recovery is being called into question", which is having a negative impact on the price of the metal.

And earlier in the week, analyst Yang Wenhu stated the negative statistics are going to put "a lid on prices".

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Posted in CFD News, Trading News |

Jun
17

Gold rises again in CFD trading

June 17th, 2010

Gold has climbed in value again today (June 17th) as investors expressed fresh concerns regarding debt problems in the eurozone.

According to Bloomberg, the metal for immediate delivery was up 0.5 per cent to $1,234.72 (£833.95) per ounce by 11:22 BST during CFD trading in London as buyers looked to invest in the safe-haven commodity.

On the Comex in New York, gold for delivery in three months was also 0.5 per cent higher, putting its value at $1,236 per ounce.

Speaking in an interview on Bloomberg Television, managing partner of Baker Steel Capital Managers David Baker was quoted as saying gold is “trading more as the preferred currency”.

“Gold’s the safest port of call,” he added, noting many traders are opting for the safe-haven commodity because of the debt problems in countries such as Spain and Greece.

The metal’s price reached an all-time high earlier in the month and was given a further boost earlier this week by the news of Greece’s credit rating being downgraded.

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Posted in CFD News, Trading News |

Jun
04

Copper down again in CFD trading

June 4th, 2010

The price of copper has declined for a fifth consecutive day during trading in London after the dollar strengthened against many of its global counterparts.

Bloomberg reports the commodity for delivery in three months was down 0.9 per cent in CFD trading at 12:48 BST in London, pricing it at $6,463.75 (£4 416.94) per metric tonne.

Earlier in the day, the metal had risen in value by up to 1.5 per cent ahead of the release of positive US non-farm payrolls data, but dipped due to continued uncertainty surrounding other factors affecting its price.

“Despite continuing positive economic data releases out of the US, the market seems to be viewing the net impact in the consuming sector as anemic without China to keep the fires burning,” Alex Health of RBC Capital Markets was quoted as saying, referring to the fact China is considering removing economic stimulus measures that could cause construction in the country to slow.

This news prompted falls in copper prices earlier in the week.

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Posted in CFD News |

May
28

Copper set for weekly gain in CFD trading

May 28th, 2010

The link between the price of copper and the value of the dollar means the metal is set to record its first weekly gain for seven weeks.

Futures for delivery in July have risen in value by 2.9 per cent during CFD trading this week, despite a slight fall on the Comex division of the New York Mercantile Exchange today (May 28th), Bloomberg reports.

At 08:39 local time, the contract was down 0.85c – or 0.3 per cent – putting it on $3.15 per pound.

Analyst at Royal Bank of Scotland Daniel Major said in an interview with the news agency that “we’ve seen some stabilisation, but mostly because of currencies”.

The dollar index – which measures the greenback against a basket of its major counterparts – is on track for its fifth weekly climb in the past six weeks, but Mr Major warned falling copper demand from China real estate sector may hit prices.

“That would provide further price weakness as we approach summer,” he remarked.

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Posted in CFD News |

May
28

Platinum’s CFD trading falls ‘over’

May 28th, 2010

The recent sharp falls in the price of platinum are likely to be over, one expert has forecast.

Since reaching a 21-month high last month, the precious metal has dropped in value by 11 per cent in CFD trading so far in May, Bloomberg reports.

But independent analyst Jim Stellakis was quoted by Bloomberg as saying the dip has probably finished and that prices will now either stabilise or begin advancing.

“Since 2001, platinum prices have shown a tendency to trade sideways or rise after they violate multi- month uptrends,” he observed.

At the close of trading yesterday the precious metal was priced at $1,562.50 (£1,071.14) an ounce, after rebounding 3.7 per cent following a 12 per cent drop across the week.

Gold, which investors often turn to in times of financial instability, has been boosted recently by the uncertainty over sovereign debt in the eurozone.

It reached a record high of $1,249.40 per ounce earlier in the month.

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Posted in CFD News |

May
28

Gold on track for CFD trading gains

May 28th, 2010

The attractiveness of gold as a safe haven investment has put it on track to record its second consecutive monthly gain.

Bloomberg reports bullion for delivery immediately was priced at $1,212.90 (£836.34) per ounce during CFD trading 15:55 local time in Melbourne, putting it up 3.1 per cent for the week and 2.9 per cent on the month.

Investors have been drawn to the precious metal due to worries about sovereign debt in the eurozone and Alan Heap of Citigroup said in an interview it is “fulfilling its traditional role as a safe haven” at present.

Concern over the situation in Europe means a rally to $1,500 per ounce could take place this year, he added.

The commodity’s price reached record a record high of $1,249.40 per ounce earlier in the month – beating the previous figure set in December 2009 – and a survey by Bloomberg revealed experts believe its value us likely to continue climbing.

Of the 26 traders, analysts and investors questioned, 22 said they expect its value to move higher next week.

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Posted in CFD News |

May
27

Crude oil up in CFD trading

May 27th, 2010

The value of crude oil has risen again during trading in New York today (May 27th) following yesterday’s four per cent gain.

Bloomberg reports the commodity climbed by as much as 1.2 per cent during CFD trading using the New York Mercantile Exchange putting it on $72.37 (£50.04) per barrel.

The recent rally has raised the appeal of commodities among investors, but one trader warned against over-optimism.

Commodity-derivative sales manager for Newedge Ken Hasegawa was quoted by the news source as saying “it’s possible for crude oil … to go down again below $70″, adding that while the US economy “is looking good”, there are still concerns about the debt situation in Europe.

He added prices are being held back by the current high inventories of crude oil and other products related to the commodity, the price of which reached record highs of around $140 per barrel in summer 2008.

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Posted in CFD News |

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