U.S. Dollar Slips After Fed Minutes; Sino-U.S. Trade Tensions in Focus By Investing.com


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Investing.com – The U.S. dollar slipped on Thursday in Asia after the release of the Federal Reserve meeting minutes. Tensions between the U.S. and China rose following reports that U.S. President Donald Trump might sign a bill that supports Hong Kong protesters.

China’s foreign ministry spokesman called the decision a blatant interference in China’s internal affairs, and said the U.S. faced “negative consequences” if it persisted.

The news added to jitters after Trump reiterated that he would raise tariffs if phase one of a trade deal with China is not signed. Traders had hoped the deal would have been signed at a summit in Chile scheduled for mid-November, but the deadline was left in limbo after the conference was cancelled.

CNBC reported earlier this week that Beijing is pessimistic about reaching an agreement with the U.S.

Meanwhile, minutes released on Wednesday showed Fed officials agreed that the stance of policy “likely would remain” where it is “as long as incoming information about the economy did not result in a material reassessment of the economic outlook.”

However, they also see “the downside risks surrounding the economic outlook as elevated, further underscoring the case for a rate cut” at the October meeting. They cited reduced business investment and exports resulting from “weakness in global growth and elevated uncertainty regarding trade developments.”

The was near flat at 97.785 by 12:59 AM ET (04:59 GMT).

“Friction between the United States and China is starting to spread from trade to questions about China’s human rights,” said Tsutomu Soma, general manager of fixed income business solutions at SBI Securities Co in Tokyo.

“This is the perfect opportunity to book some profits and unwind some risk-on trades, which is supportive for the yen and government bonds.”

The pair was little changed at 108.58.

The pair slipped 0.1% to 0.6797, while the pair also fell 0.1% to 0.6413.

The pair inched up 0.1% to 7.0394.

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.





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Safe-Haven Gold Fall Despite Doubts Over Partial Trade Deal  By Investing.com


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Investing.com – Prices of the safe-haven gold fell on Thursday in Asia despite doubts over a phase on trade deal between the U.S. and China.

for December delivery on New York’s COMEX traded 0.2% lower to $1,470.75 by 1:20 AM ET (05:20 GMT).

U.S. President Donald is likely to sign a bill that supports Hong Kong protesters, Bloomberg reported citing a source familiar with the matter.

China’s foreign ministry spokesman called the decision a blatant interference in China’s internal affairs, and said the U.S. faced “negative consequences” if it persisted.

Trump is now in a dilemma, as signing the bill could possibly imperil a long-awaited trade deal with Beijing. The deal was originally expected to be signed at a summit in Chile scheduled for mid-November, but the deadline was left in limbo after the conference was cancelled.

Reuters reported today that the two countries may not reach the partial trade deal this year.

China’s foreign ministry spokesman called the decision a blatant interference in China’s internal affairs, and said the U.S. faced “negative consequences” if it persisted.

The U.S. Federal Reserve’s meeting minutes for October, published overnight, also received some focus.

The central bank said the stance of policy “likely would remain” where it is “as long as incoming information about the economy did not result in a material reassessment of the economic outlook.”

However, they also see “the downside risks surrounding the economic outlook as elevated, further underscoring the case for a rate cut” at the October meeting. They cited reduced business investment and exports resulting from “weakness in global growth and elevated uncertainty regarding trade developments.”

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 Jumps 3% as Bulls Rejoice Over Smaller Crude Build By Investing.com


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Investing.com – Volatility was back forcefully in oil Wednesday with the market jumping nearly 3% to recoup almost all it lost in the previous session.

Bulls were pouncing on government data showing a smaller-than-expected build in weekly U.S crude stockpiles.

Gone were worries that there might not be a trade deal anytime soon between the United States and China – the catalyst for Tuesday’s selloff.

Also cast aside was the likelihood of the Federal Reserve indicating in its October meeting minutes released at 2:00 PM ET that it might be done with rate cuts for this year.

Underpinning the market’s comeback was the Energy Information Administration’s report that U.S. rose by 1.4 million barrels last week – about 100,000 barrels below market expectations.

Also adding to the bullish fervor was Russian President Vladimir Putin’s indication that Moscow will support OPEC in whatever way necessary on production cuts when the cartel holds its meeting next month.

Russia is part of the OPEC+ alliance, formed with the 14-member Organization of the Petroleum Exporting Countries, which has committed to keeping 1.2 million barrels per day of supply off the market for price support.

NYME-traded settled up $1.66, or 3%, at $57.01 per barrel. WTI had tallen 3.1% Tuesday. rose $1.49, or 2.5%, to $62.40. Brent had slumped 2.5% in the previous session.

Energy stocks moved higher with the rising prices. Chevron (NYSE:), up 0.8%, and Exxon Mobil (NYSE:), up 0.34%, were the third-best and seventh-best performing stocks in the , which closed down 0.4% or about 113 points.

“There’s little justification, of course, for the market to put back on almost everything it lost the previous day, simply because we got a slightly lower build number for crude,” said Tariq Zahir, managing member at the oil-focused Tyche Capital Advisors in New York.

“But that’s what volatility is all about, and you’re seeing it because of the uncertainty over the trade talks, the Fed’s course of action in December and what Russia and OPEC is going to ultimately do. All these are prompting traders to hedge in whatever way they think is right.”

Aside from the smaller-than-expected crude build, the EIA also announced modest differences to gasoline and distillates inventories compared to market expectations.

  • rose by about 1.8 million barrels, versus analysts’ expectations for a rise of 870,000 barrels.
  • fell by about 1 million barrels, compared with forecasts for a decline of about 730,000 barrels.
  • 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. Dollar Flat as Tensions With China Rise Over Hong Kong By Investing.com


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    Investing.com – The U.S. dollar was flat on Wednesday ahead of the expected release of the Federal Reserve meeting minutes and as tensions between Washington and Beijing rose.

    China took offense to the U.S. Senate passing legislation that backed Hong Kong protesters and would ban the export of items like tear gas and rubber bullets to the city’s police force, as conflict between the two sides escalated this week.

    The news added to jitters after U.S. President Donald Trump reiterated that he would raise tariffs if phase one of a trade deal with China is not signed. Traders had hoped the deal would have been signed at a summit in Chile scheduled for mid-November, but the deadline was left in limbo after the conference was canceled.

    The , which measures the greenback’s strength against a basket of six major currencies, was steady at 97.760 as of 9:56 AM ET (14:56 GMT) after rising to 97.920 earlier in the session.

    Meanwhile, the Fed is expected to release the minutes from its October meeting, where it cut rates by 25 basis points for the third time this year.

    The safe-haven Japanese yen was slightly lower with up 0.1% to 108.61.

    Elsewhere, sterling was steady, with at 1.2918 while at 1.1075. The trade-sensitive Australian dollar was lower, with falling 0.1% to 0.6818.

    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.





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    Gold Edges Lower as U.S. Oil Data Takes Edge off Slowdown Fears By Investing.com


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    Investing.com — Gold prices fell slightly on Wednesday after stronger-than-expected U.S. data ate into the support for haven assets from the latest twists in U.S.-China relations.

    By 11:05 AM ET (1605 GMT), for delivery on the Comex exchange were at $1,468.55 a troy ounce, down 0.4% from late Tuesday and well off an intra-day high of $1,479.15.

    fell 0.3% to $1,468.44 an ounce.

    The $1,470 level held until U.S. government data showed a smaller-than-expected build in oil inventories last week, which attenuated fears about a further slowdown in the economy. That implied sustained strong demand for energy in the U.S. and accordingly supported risk assets and depressed havens.

    Beijing reacted angrily on Tuesday to the Senate’s voting through of a bill that would tie U.S. trade policy to China to the latter’s respect for the treaty granting autonomy to Hong Kong. The bill was held back by the Republican-dominated Senate, which feared further complicating trade negotiations with China, given the need for a trade deal to brighten the economic outlook as the U.S. heads into election year.

    Even so, trading remained trapped in narrow ranges, with little sign of movement from the Federal Reserve on the horizon, and less than two days before Christine Lagarde gives her first keynote speech as president of the European Central Bank.

    Lagarde has supported the negative interest rate policy pioneered by her predecessor Mario Draghi in the past, but is facing concerted pushback from various quarters, including Europe’s powerful bank lobby and from a significant German-led minority of her central bank colleagues.

    And while debate still swirls around whether negative rates are tolerable for Europe’s banks, there’s increasing evidence that they haven’t had the desired effect in stimulating consumer spending, some say.

    “European consumers decided increase savings during the past year, at a pace not seen since the financial crisis, as uncertainty rose and the mood soured,” Oxford Economics analyst Angel Talavera said via Twitter.

    Elsewhere, fell 0.4% to $17.12 an ounce while rose 0.6% to $917.40.

    U.S. government bond yields edged lower along the yield curve, with and yields falling the most.

    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. Dollar Falls as Trade Deal Uncertainty Spreads By Investing.com


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    Investing.com – The U.S. dollar fell on Monday after CNBC reported that Chinese officials are pessimistic that a trade deal will be signed.

    The report, which cited government sources, said the bleak outlook was due to U.S. President Donald Trump’s reluctance to roll back tariffs. China has been pushing for the two sides to remove tariffs as they work on a phase one trade deal. Trump has said that he has not agreed to end tariffs, causing uncertainty on whether or not there will be a deal. Since then, both sides have said they are making progress but have not given any details on the outcome of talks.

    The , which measures the greenback’s strength against a basket of six major currencies, fell 0.2% to 97.700 as of 10:25 AM ET (15:25 GMT).

    The safe-haven Japanese yen was higher with down 0.1% to 108.59.

    Elsewhere, sterling was steady, after rising 0.4% earlier in the session on news that all Conservative Party candidates at the Dec. 12 election have pledged to back Prime Minister Boris Johson’s Brexit deal. Opinion polls suggest that the Conservatives will win the election.

    rose 0.4% to 1.2953 while was up 0.2% to 1.1068.

    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.





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    Gold Prices Rebound on Report of Chinese Pessimism Over Trade Deal By Investing.com


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    Investing.com — Gold prices dipped on Monday before recovering in response to a report saying that China was pessimistic about the near-term chances of a trade agreement with the U.S.

    CNBC cited a source in China as saying that Beijing was minded not to make any further concessions in talks in the near term, preferring to wait and see how the impeachment proceedings against President Donald Trump play out.

    If substantiated, that would reduce the odds of the phase one trade deal that both sides have publicly talked up, but repeatedly pushed back due to reported differences over issues ranging from tariffs to intellectual property rights.

    By 9:55 AM ET (1455 GMT), for delivery on the Comex exchange were at $1,470.25 a troy ounce, up over 1% from an intraday low of $1,456.65 just before the news and up 0.1% from Friday’s close in the U.S. was up 0.2% at $1,469.95.

    U.S. Treasury bond yields also fell by two to three basis points all along the yield curve on the news.

    also rebounded to $16.94 an ounce, down less than on the day, while were down 0.1% at $893.60.

    Gold has struggled for direction in recent days as upbeat talk on trade – which is normally bearish for haven assets – has competed for the market’s attention with the still-intact global trend to lower interest rates.

    The uncertainties over further direction were underlined earlier Monday in Europe: European Central Bank Vice President Luis de Guindos and Chief Economist Philip Lane both talked up the possibilities for future stimulus, while Germany’s Bundesbank emphasized that the situation in the euro zone’s largest economy has probably stopped deteriorating. In its monthly report there’s “no reason to fear” that the euro zone’s largest economy will slide into a recession.

    The mixed picture was also evident in the weekly Commitments of Traders Report from the Commodity Futures Trading Commission on Friday, said World Gold Council strategist John Reade.

    Reade noted via Twitter that “ fell in the week to last Tuesday, but the driver was long liquidation, not fresh shorts.” At the same time, however, open interest in the contract rose.

    Net longs in gold still remain close to their recent highs despite last week’s decline. , however, fell to their lowest since August last week on the burst of trade-related enthusiasm that propelled last week’s rally in risk assets.

    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.



    Dollar Hits 1-Week Low as Trade Developments Awaited By Investing.com


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    Investing.com – The dollar slid to one- week lows against a currency basket on Monday, as traders awaited fresh indications on whether the U.S. and China are moving closer to a deal to end their trade war which has roiled financial markets and acted as a drag on global growth.

    The edged down 0.11% to 97.77 by 02:23 AM ET (07:23 GMT), its lowest level since Nov. 7.

    Chinese state media Xinhua reported Sunday that the two sides had “constructive talks” on trade in a high-level phone call on Saturday, but gave no further details on the timing of a possible deal.

    “It all sounds promising,” said Marshall Gittler Chief Strategist at FX analysis firm ACLS Global. “But China has made rolling back some of the tariffs a precondition for the agreement and it’s not clear whether Trump will agree to that…so net-net, it’s still up in the air.”

    Against the safe-haven , the dollar was up 0.17% to 108.91.

    The was a touch higher at 1.1062.

    Currency traders are awaiting the first major speech by European Central Bank President Christine Lagarde due on Friday for clues on future policy.

    The climbed 0.4% to a two-week high of 1.2946 after Prime Minister Boris Johnson said all Conservative Party candidates at the Dec. 12 election had pledged to back his Brexit deal.

    It was also supported by fresh opinion polls pointing to a Conservative victory.

    The dollar and bonds are likely to be sensitive to minutes of the Federal Reserve’s last policy meeting, set to be released on Wednesday.

    “The minutes are likely to reiterate that the U.S. economy is ‘solid’ and that current monetary policy settings are ‘appropriate’, which would support the dollar,” said Joseph Capurso, a currency analyst at Commonwealth Bank of Australia.

    However, he noted the soft report on October U.S. retail sales released on Friday suggested previously strong consumption was showing some cracks.

    “Any further weakness in consumption could warrant a material reassessment of the outlook by the FOMC. Under our baseline, the FOMC would most likely start cutting interest rates again in 2020,” said Capurso.

    –Reuters contributed to this report

    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.





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    U.S. Dollar Unchanged Amid Latest Trade News By Investing.com


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    Investing.com – The U.S. dollar was little changed on Friday in Asia as traders evaluated the latest trade news.

    Gao Feng, China’s Ministry of Commerce spokesperson, insisted again at a weekly press conference that the U.S. should roll back tariffs as part of a “phase one” agreement.

    “The trade war was begun with adding tariffs, and should be ended by canceling these additional tariffs. This is an important condition for both sides to reach an agreement,” Gao said.

    “If both sides reach a phase one agreement, the level of tariff rollback will fully reflect the importance of the phase one agreement,” Gao said, noting the two countries’ trade delegations are in deep consultations on this topic.

    Meanwhile, White House economic adviser Larry Kudlow said Washington is “getting close” to a trade deal with Beijing.

    Citing unnamed people close to the talks, the Financial Times said an agreement may not be reached in time to avoid a new round of U.S. tariffs taking effect on Dec. 15.

    U.S. President Donald Trump and Chinese leader Xi Jinping were widely expected to sign the deal at the Asia-Pacific Economic Cooperation summit in Santiago, but Chile canceled the event in late October due to domestic unrest.

    The U.S. dollar index was unchanged at 98.020 by 11:13 PM ET (03:13 GMT).

    The USD/CNY pair slipped 0.2% to 7.0076.

    The People’s Bank of China (PBOC) unexpectedly extended loans through its medium-term lending facility (MLF) on Friday, while keeping the interest rate on one-year MLF loans unchanged at 3.25%.

    The PBOC also said it has injected 200 billion yuan ($28.60 billion) into financial institutions via the liquidity tool.

    The NZD/USD pair gained 0.1% to 0.6387. The New Zealand dollar had jumped on Wednesday when the country’s central bank unexpectedly left interest rates steady.

    The Australian dollar rebounded 0.2% to 0.6795 against the U.S. dollar after falling in the previous session amid an unexpected rise in unemployment.

    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.





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    Dollar Flat After Powell Plays Down Further Cuts; HK Eyed By Investing.com


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    Investing.com — The dollar was mostly flat in early trade in Europe on Friday amid a lull in news ahead of more U.S. economic data later in the day.

    The greenback is on course for a modest loss of around 0.2% this week, drifting as the world waits for China and the U.S. tie up an elusive trade truce.

    The threat of a Chinese crackdown on unrest in Hong Kong is also keeping markets on edge. President Xi Jinping urged the city’s chief executive Carrie Lam to clamp down on protests on late on Thursday, urging “forceful actions . . . to punish those who have committed violent crimes,” according to the Financial Times.

    However, the FT also cited people familiar with the matter as saying that China’s top official overseeing the territories of Hong Kong and Macau had delayed a visit to the city for fear of inflaming the situation further.

    By 4 AM ET (0900 GMT), the , which tracks the buck against a basket of developed market currencies, was at 98.050, little changed from late Friday. and were both effectively unchanged at $1.1025 and $1.2880, respectively.

    The dollar had received some support from two days of Congressional testimony by Federal Reserve Chairman Jerome Powell who made clear that there would be no further cuts to U.S. interest rates barring a major deterioration in the economy.

    The modest uptick in last week along with weakening on Thursday clearly didn’t meet that requirement, but there is the chance that U.S. and data, both due later Friday, may send stronger signals of a slowdown.

    Elsewhere, the global trend towards lower interest rates continued, with cuts by the central banks of both Mexico and Egypt. Both the and took the moves in their stride.

    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.





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