Iran recession to deepen, reserves to fall to $73 billion by March: IIF By Reuters



By Davide Barbuscia

DUBAI (Reuters) – Hit by sanctions curbing oil sales, Iran’s economy is set to fall deeper into recession this fiscal year and foreign reserves could drop to $73 billion by March, a loss of almost $40 billion in two years, the Institute of International Finance said.

The economy shrank by 4.6% in the 2018-2019 fiscal year and the contraction is expected to deepen to 7.2% in the current fiscal year, the IIF, a finance industry body, said this week.

The United States last week sanctioned 17 Iranian metal producers and mining companies in response to Iran’s attack on U.S. troops in Iraq, which was retaliation for the U.S. killing of an Iranian general in a drone strike in Baghdad.

Iran is not a major metals producer but the sanctions add pressure on the economy, crippled by a decline in volume of exports of and condensates, which fell from a peak of 2.8 million barrels per day in May 2018 to less than 0.4 million barrels a day in recent months.

“The fall in imports has only partly offset the drastic decline in exports. As a result, the current account balance has shifted to a small deficit for the first time since 1998,” the IIF said.

Iran saw its oil revenues surge after a 2015 nuclear pact between Tehran and world powers ended a sanctions regime imposed three years earlier over its disputed nuclear program.

But new sanctions brought in after U.S. President Donald Trump withdrew from that deal in 2018 are the most painful imposed by Washington.

“MORE RISKS THAN OPPORTUNITIES”

The IIF said that if the U.S. maintained sanctions, then “after two years of deep recession, growth would remain subdued over the medium term, unemployment rate would increase further to over 20%, and official reserves would continue their decline to about $20 billion by March 2023”.

In contrast, in a scenario in which the U.S. lifts sanctions, Iran’s economic growth could exceed 6% annually, with reserves resuming their rise to $143 billion and nominal GDP could double to $639 billion by March 2024, it said. The Iranian fiscal year starts in March.

“The U.S. strategy to inflict a heavy economic and political toll on the Islamic Republic through a coordinated sanctions policy is unlikely to change over the coming months,” said Robert Mogielnicki, a resident scholar at the Washington-based Arab Gulf States Institute.

“With President Trump likely to remain in office through much of 2020, and potentially until 2024, the prospects for a durable agreement between the U.S. and Iran appear remote. The Iranian economy therefore confronts more risks than opportunities in the short and medium terms,” he said.

A drop in the Iranian currency following the reimposition of sanctions has disrupted Iran’s foreign trade and boosted annual inflation, which the International Monetary Fund has forecast will be 31% this year.

With hydrocarbon revenues falling by about 70%, Iran – a leading member of the Organization of the Petroleum Exporting Countries (OPEC) – is expected to have a fiscal deficit of around 2% of GDP in the fiscal year 2020-2021, despite higher taxes and cuts in fuel and electricity subsidies, according to the IIF.

Iran’s president presented a draft state budget of about $39 billion to parliament in December, saying it was designed to resist U.S. sanctions by limiting dependence on oil exports.

The budget forecasts revenues for oil, gas and condensates falling 40%, leaving a gap it plans to plug by using state bonds and selling state properties.



Gold Prices Rebound After Two-Day Fall; U.S.-China Deal Signing Eyed By Investing.com


© Reuters.

By Alex Ho

Investing.com – Gold prices rebounded on Wednesday, snapping its recent declining streak amid fresh uncertainties surrounding the U.S.-China trade front.

U.S. gained 0.6% to $1,553.15 by 12:47 AM ET (04:47 GMT).

Traders remained cautious ahead of the phase one trade deal signing later today, as U.S. Treasury Secretary Steven Mnuchin said tariffs on Chinese goods will be in place until the completion of a phase two agreement. Citing people familiar with the matter, Bloomberg reported that the phase two negotiations is not likely to start until after the American presidential election in November.

The yellow metal surged earlier this week as U.S.-Iran tensions drew safe-haven demand. However, risk sentiment recovered after the two nations said they did not seek an escalation of war.

“A week ago Iran-US news caused a pretty significant rally in gold; and now that has subsided.” SMC Global said in a note.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



U.S. Stocks Fall, Bonds Rise After Jobs Report: Markets Wrap By Bloomberg



(Bloomberg) — U.S. stocks fell from near records, while Treasuries rose after the latest jobs report delivered mixed signals on the strength of the economy. The dollar declined versus major currencies.

The S&P 500 edged lower after hiring data fell short of estimates and wage growth was the weakest in more than a year. The benchmark is still on track for a weekly advance as the situation in the Middle East held a tenuous calm. Boeing (NYSE:) Corp. slumped, helping to pull down the .

Treasuries pushed higher as the wage figures erased any inflation worries. Futures traders maintained the amount of easing they expect from the Federal Reserve.

The jobs data ultimately did little to alter investor views on the strength of the economy or the Fed’s next step. With stocks near all-time highs, markets continue to look past the flare-up in tensions with Iran and focus on the potential for a pickup in global economic growth.

“This is the opposite of a game-changer. It’s very consistent with everyone’s views going into this report, the Fed stays on hold and the economy is slowing down,” said Nela Richardson, an investment strategist at Edward Jones. “We’re consistent on the overall view the Fed stays pat on short-term rates this year. If anything, this report tilts the Fed a little bit towards being more accommodative, not less.”

Elsewhere, European shares rose, while bonds in the region advanced. Gold turned gained, while West Texas oil dropped below $59 a barrel.

These are moves in major markets:

Stocks

  • The S&P 500 Index fell 0.2% as of 3:11 p.m. New York time.
  • The Index fell 0.1%.
  • Germany’s gained 0.3%.

Currencies

  • The Bloomberg Dollar Spot Index fell 0.1%.
  • The British pound dropped 0.1% at $1.3059.
  • The euro rose 0.1% at $1.1112.
  • The Japanese yen weakened 0.1% to 109.63 per dollar.

Bonds

  • The yield on 10-year Treasuries fell three basis points to 1.82%.
  • Britain’s 10-year yield fell five basis points to 0.773%.
  • Germany’s 10-year yield declined two basis points to -0.198%.

Commodities

  • West Texas Intermediate crude dropped 0.9% to $59.05 a barrel.
  • Gold rose rose 0.4% at $1,560.30 an ounce.


Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Oil Prices Continue to Fall as U.S.-Iran Tensions Ease, Set for Weekly Loss By Investing.com


© Reuters.

Investing.com – Oil prices continued to fall on Friday in Asia and were set to record their first weekly loss since November as U.S.-Iran conflict cooled.

U.S. dropped 0.2% to $59.48 by 12:50 AM ET (04:50 GMT), while International slipped 0.1% to $65.32.

The U.S. House of Representatives voted overnight to curb U.S. President Donald Trump’s power to strike Iran. Meanwhile, in comments to Fox News, Vice President Mike Pence said the Islamic Republic has asked militias in the Middle East not to carry out attacks against U.S. interests.

The easing of the U.S.-Iran tensions reduced concerns of a potential supply disruption in the Middle East, and were cited as the catalyst of selling in oil prices in the past two days.

On the Sino-U.S. trade front, China’s Ministry of Commerce spokesman Gao Feng confirmed that Vice Premier Liu He will travel to Washington between Jan. 13 and 15 to sign a phase one trade deal.

He said he has no more information to release about the trade talks, other than that the teams remain in close contact.

Trump previous said that the deal will be signed at the White House on Jan. 15. Under the accord, which was announced in December, the U.S. halted plans for new tariffs on Chinese imports and reduced some existing levies, while Beijing agreed to increase agricultural purchases.

The positive trade news failed to lift oil prices today however, as they were largely overshadowed by improving situation in the Middle East.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



U.S. weekly jobless claims fall, but labor market cooling By Reuters



By Lucia Mutikani

WASHINGTON (Reuters) – New applications for U.S. jobless benefits fell more than expected last week, but the labor market appears to be cooling, with the number of Americans on unemployment rolls surging to more than a 1-1/2-year high at the end of 2019.

Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 214,000 for the week ended Jan. 4, the Labor Department said on Thursday. The fourth straight weekly decline saw claims almost unwinding the jump in early December, which was blamed on a later-than-normal Thanksgiving Day.

“Jobless claims have returned to normal levels, showing the labor market is in a good place,” said Chris Rupkey, chief economist at MUFG in New York.

Economists polled by Reuters had forecast claims would fall to 220,000 in the latest week. The claims data was volatile in late 2019, with applications dropping to 203,000 at the end of November and shooting up to 252,000 in early December.

The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 9,500 to 224,000 last week.

U.S. financial markets were little moved by the data as politics dominated sentiment. Stocks on Wall Street rose, with the main indexes hitting record highs after the United States and Iran moved away from an all-out conflict.

The dollar () gained versus a basket of currencies, while U.S. Treasury prices fell. But the labor market could be losing momentum. The number of people receiving benefits after an initial week of aid vaulted by 75,000 to 1.80 million for the week ended Dec. 28, the highest level since April 2018. The weekly increase was the largest since November 2015.

The four-week moving average of the so-called continuing claims rose 33,000 to 1.74 million. Some of the surge in continuing claims could be related to year-end volatility.

“The continuing claims data also may exhibit some volatility around the holiday season, but the trend in the data appears to have weakened over the past month or so,” said Daniel Silver, an economist at JPMorgan (NYSE:) in New York.

PAYROLLS IN FOCUS

Labor market strength is helping to keep the economy on a moderate growth pace despite a deepening downturn in manufacturing. The White House’s 18-month trade war with China has sapped business confidence and undercut capital expenditure.

Though Washington and Beijing in December hammered out a “Phase 1” trade deal, considerable confusion remains about the details of the agreement, which is expected to be signed next week.

The U.S. government is expected to report on Friday that nonfarm payrolls increased by 164,000 jobs in December. While that would be a step down from November’s robust gain of 266,000, the anticipated pace would still be well above the roughly 100,000 jobs per month needed to keep up with growth in the working-age population.

The unemployment rate is forecast to be unchanged near a 50-year low of 3.5%. The Federal Reserve last month signaled interest rates could remain unchanged at least through this year. The Fed lowered borrowing costs three times in 2019.

Minutes of the U.S. central bank’s Dec. 10-11 policy meeting published last week showed officials “generally expected sustained expansion of economic activity, strong labor market conditions,” though some viewed next month’s expected downgrade to employment growth as an indication the labor market was cooling.

The government last August estimated the economy created 501,000 fewer jobs in the 12 months through March 2019 than previously reported, the biggest downward revision in the level of employment in a decade. That suggests job growth over that period averaged around 170,000 per month instead of 210,000. The revised payrolls data will be published on Feb. 7.

“It is not clear what the data since then will look like, but we suspect more recent job growth could be revised down,” said Kevin Cummins (NYSE:), senior U.S. economist at NatWest Markets in Stamford, Connecticut.



Yen, Swiss franc fall after Trump signals no further action vs Iran By Reuters


© Reuters. Light is cast on a Japanese 10,000 yen note as it’s reflected in a plastic board in Tokyo, in this picture illustration

By Gertrude Chavez-Dreyfuss

NEW YORK (Reuters) – The safe-haven yen slid from three-month highs against the dollar on Wednesday, as U.S.-Iran tensions eased after President Donald Trump signaled there would be no further military action, for now, with Tehran appearing to have pulled back from its threats.

Another safe haven, the Swiss franc, also fell. It had earlier touched a more than one-week peak versus the greenback. Gold, which draws a bid in times of geopolitical stress, also gave up earlier gains, as did .

Trump backed away on Wednesday from days of angry rhetoric against Iran as the two countries tried to defuse a crisis over the American killing of Iranian military commander Qassem Soleimani.

In an address from the White House, Trump said the United States did not necessarily have to respond militarily to Iranian missile attacks on military bases housing U.S. troops in Iraq overnight.

Iran said it had fired missiles at U.S. targets in Iraq in retaliation for last Friday’s U.S. drone strike that killed Soleimani.

“It’s a big sigh of relief for the markets,” said Shaun Osborne, chief FX strategist, at Scotiabank in Toronto.

“The markets were concerned that there was the risk of an escalation. I would be very surprised though that this would be the absolute end of all of this, but the risk of a direct confrontation between the U.S. and Iran seems less of a risk,” he added.

SAFE HAVENS

The yen, regarded as a safe haven in times of geopolitical turmoil because of its deep liquidity as well as Japan’s current account surplus, dropped, pushing the dollar to a more than one-week high of 109.19 yen . The dollar earlier fell to a three-month low of 107.66 yen following Iran’s strike, but was last up 0.8 at 109.18 yen.

(GRAPHIC: Bumpy ride for markets after Iran strikes at U.S. forces in Iraq – https://fingfx.thomsonreuters.com/gfx/mkt/13/712/712/frx0801.png)

The dollar also rose against the Swiss franc at 0.9737 franc , up 0.3%, after falling to a more than one-week trough earlier in the global session.

A higher-than-expected U.S. private payrolls number for December also boosted the dollar. The rose 0.3% to 97.30 () in mid-afternoon trading.

The ADP (NASDAQ:) National Employment Report on Wednesday showed private payrolls jumped by 202,000 jobs last month after an upwardly revised 124,000 gain in November. Economists polled by Reuters had forecast private payrolls of 160,000 last month following a previously reported 67,000 rise in November.

“The market still has the ultimate ballast, or anchor, which is the U.S. economy,” said Marc Chandler, chief market strategist at Bannockburn Global Forex. “Even though there’s some variance month-to-month between the ADP and the non-farm payrolls report, the ADP is still a good indicator of the underlying trend.”

The euro, meanwhile, was at $1.1108 in afternoon trading, down 0.4% () and near session lows.





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Oil Prices Fall Despite Continuing U.S.-Iran Conflict By Investing.com


© Reuters.

Investing.com – Oil prices retreated on Tuesday in Asia despite continuing tension between the U.S. and Iran.

U.S. dropped 1.1% to $62.59 by 11:40 PM ET (03:40 GMT). International also fell 1.1% to $68.12.

Oil prices surged on Monday following the news that a U.S. airstrike killed a top Iranian general, sparking an escalation in conflict between the two countries.

On Monday, the U.S. has ordered more troops to the Middle East after Iran’s Supreme Leader Ayatollah Ali Khamenesaid it will retaliate against the attack that killed General Qassem Soleimani.

“The market is recovering from the initial shock and closely monitoring how Tehran will respond,” said Will Sungchil Yun, commodities analyst at VI Investment Corp in a Bloomberg report. “As current signals indicate traders and investors don’t see a full-blown war coming, prices are likely to remain relatively steady without a significant development.”

Prices were also supported this week by higher compliance among the Organization of the Petroleum Exporting Countries (OPEC) on meeting production quota curbs aimed at reducing supply.

OPEC members pumped 29.50 million barrels per day (bpd) last month, down 50,000 bpd from November’s revised figure, according to a Reuters survey.

The American Petroleum Institute will release its snapshot of U.S. oil inventories later in the day.

The API numbers aren’t perfectly correlated to the official government stockpile numbers, which come out Wednesday, but they do offer a glimpse of how they may be trending.

The API reported a drop in oil inventories of 7.9 million barrels last week.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



UK businesses report fall in Brexit uncertainty in December: BoE survey By Reuters



LONDON (Reuters) – British businesses reported a fall in Brexit-related uncertainty last month, according to a Bank of England survey that was conducted before and after Prime Minister Boris Johnson’s landslide election victory on Dec. 12.

The BoE said a gauge of Brexit uncertainty in its monthly Decision Makers’ Panel survey fell to a six-month low in December.

However, 42% of respondents said they did not expect Brexit uncertainty to be resolved until 2021 at the earliest, up from 34% in November, the BoE said.

Johnson has said he will clinch a deal settling Britain’s future trade ties with the European Union before a deadline on Dec. 31 2020.

The survey of 2,887 business executives was conducted between Dec. 6 and Dec. 20.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Japan’s output, retail sales fall, signaling economic strains By Reuters


© Reuters. Smoke rises from a factory during sunset at Keihin industrial zone in Kawasaki

By Daniel Leussink

TOKYO (Reuters) – Japan’s industrial output slipped for the second straight month in November, raising the likelihood the economy will contract in the fourth quarter due to slowing demand abroad and at home.

Japan’s economy has cooled in recent months due to a prolonged hit to exports from soft global demand and a slide in consumer spending following a nationwide tax hike.

Official data showed factory output fell 0.9% in November from the previous month, a slower decline than the 1.4% fall in a Reuters forecast.

That followed a downwardly revised 4.5% decline in the previous month, the largest month-on-month slump since the government started compiling the data in comparative form in January 2013.

“The overall economy including factory output is expected to contract sharply in the current quarter,” said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute.

“It is expected to rebound in January-March but the issue is how much it will recover.”

Production was pushed down by a decrease in output of production machinery and information equipment, which offset a bounce back in output of cars and car engines.

“There is still uncertainty for the economic outlook as the effects from the U.S.-China trade friction will likely remain but there are positive signals for a moderate pickup in factory output,” said Hiroaki Mutou, chief economist at Tokai Tokyo Research Institute.

Manufacturers surveyed by the Ministry of Economy, Trade and Industry expect output to gain 2.8% in December and rise 2.5% in January, the data showed.

Separate data released on Friday showed retail sales dropped a larger-than-expected 2.1% in November as consumer sentiment stayed depressed after October’s sales tax hike.

The weak readings could pressure the government to come up with new ways to boost growth and force the central bank to maintain its stimulus program.

“Economic sentiment has worsened overall,” said Shudai Hasegawa, a shopkeeper at a store selling rice, pickles and other foods in Tokyo’s Shinagawa area.

“There are fewer people in the shopping street here from the start of the year compared to the previous year, and also after the tax hike,” he said earlier this month.

Kota Watanabe, manager of a store selling pillows and futon mattresses, said demand from older consumers over 50 has been weak this year, partly due to warm weather.

“They say they are satisfied with cheap goods. There are also people saving money for their children instead of spending it themselves.”

UNDER PRESSURE

The broader economy is likely to stay under pressure as weak business and consumer confidence and a delayed pickup in global growth hurt demand.

The government last week cut its overall view on the economy for the fourth time this year due to a downgrade in its assessment of manufacturing output.

The Bank of Japan stood pat last week though it warned risks to the recovery remained high and offered a gloomier view on output.

Japan’s government last week approved a record budget for the coming fiscal year. Part of the planned spending will help finance a $122 billion fiscal package to shore up growth.

Meanwhile, Japan’s jobless rate fell in November, while the jobs-to-applicants ratio held steady, suggesting the nation’s tightest jobs market in decades is holding up.

The seasonally adjusted unemployment rate fell to 2.2% in November from 2.4% in the previous month, Ministry of Internal Affairs and Communications data showed.

The jobs-to-applicants ratio was unchanged at 1.57 in November from the previous month, health ministry data showed.



South Korea’s December exports to post slowest fall in 8 months: poll By Reuters



By Joori Roh

SEOUL (Reuters) – South Korea’s exports likely contracted for a 13th straight month in December, though at a much slower pace, as stabilizing chip prices and a recovery in Chinese demand offered a ray of hope for the trade-reliant economy.

Overseas sales in December were seen falling 6.0% from a year earlier, according to the median forecast of 11 economists polled, the slowest contraction since April, when exports fell a revised 2.1%.

The projected December fall, much better than a 14.4% decline seen in November, is expected to end a sequence of double-digit percentage declines that has lasted six months, a majority of economists said.

“Along with a strong base effect, stabilizing prices for semiconductor, oil and petrochemical products had a positive effect,” said Ahn So-eun, economist at IBK Securities.

Preliminary data showed South Korea’s exports slid 2.0% in the first 20 days of December from a year earlier, the slowest fall in a year, offering signs that a year-long run of declines may be nearing its end.

The contraction in exports began in December last year as the economy, Asia’s fourth-largest, has been one of the nations worst-hit by cooling global demand in the wake of the U.S.-China trade war.

Last week, the finance ministry trimmed its economic growth target for next year to 2.4% from an estimated 2.0% rise this year, the worst in a decade, even after two rate cuts and aggressive budget spending.

“There will be one or two quarters of time-lag before the import demand improves, helped by global monetary easing seen in the second half this year,” Lee Seung-hoon, chief economist at Meritz Securities, said.

South Korea cut key policy rate twice in July and October, joining a global easing trend, to support its faltering economy.

The Reuters poll also forecast that South Korea’s consumer prices rising a median 0.6% in December compared with a 0.2% gain in the previous month.

Economists also saw industrial output in November rising by a seasonally adjusted 0.5% from a month earlier.

November industrial output data will be published at 8 a.m. on Monday (2300 GMT Sunday), while inflation figures are expected at 8 a.m. on Tuesday (2300 GMT Monday). Statistics Korea will also announce the inflation figure for the whole of 2019 on the same day.

December trade data, which is due at 9 a.m. (0100 GMT) on Jan.1, will be the first monthly foreign trade data to be published by a major exporting economy.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.