Bank of Japan Governor says the Yen’s dropped too quickly.

The monthly BOJ minutes yesterday revealed the vote to increase the stimulus program was extremely tight but the conviction to maintain a monetary policy easing bias was as strong as ever and Governor Kuroda expects the Japanese economy to reach its inflation target of 2% as early as the second quarter of 2015.

The BOJ Governor did mention in a speech yesterday that he had concerns that the Yen had weakened too quickly and this is why we saw the Yen rise a few ticks through the Asian trading session. Once European trading started and stock markets rallied the Yen was again sold. 

The full report is featured in Today's LTG GoldRock Insider Report. Go to www.ltggoldrock.com for more information. 

Keep an eye on the US weather particularly in the East.

First quarter growth in the USA this year was nowhere near what markets expected and much of this had to do with a freezing cold winter that froze business activity and spending in much of the North East. Buffalo which is in the north east of the USA received its annual snow fall in 48 hours last week.

If the US experiences a cold start to winter and an unusually cold snap early then I would expect traders to use this as an excuse to speculate on lower GDP in the fourth quarter for the USA.

Each Day Andrew Barnett the Senior Trader at LTG GoldRock reviews and discusses the latast Forex News and World Events that could potentially impact Forex Markets. Go to www.ltggoldrock.com for more information.
 

Bank of England Minutes gets the Pound off its lows

The Pound rallied off its lows on Wednesday after being sold off for much of the past two months. Earlier in the week we received a better than expected inflation report which showed an annualised rise to 1.3% and Bank of England Minutes Wednesday showed policy makers were concerned inflation could rise sharply and therefore traders took this as a sign to again begin speculating on an interest rate rise at the Bank of England.

The minutes showed the BOE committee voted 7/2 in favour of leaving the official cash rate at 0.5%. But the tone of the minutes changed slightly with the following statement. “Given the pace at which spare capacity appeared to have been eroded over the past year and the possibility that productivity growth would remain weak, there was a risk that any remaining slack might soon be exhausted, causing inflationary pressures to build.”   Remember rising inflation means a step closer to rising interest rates.

For more of the latest LTG GoldRock Reviews and Forex News go to www.ltggoldrock.com 

LTG GoldRock: Everyone is worried about time.

The biggest worry people have as they get older is, Will I die poor?
We are all living longer and longer but the traditional ways of making money are getting harder and harder. Bull! They are the same as they always have been. If you do what everyone else is doing you will run out of money when you are old. That has never been any different for the last 1000 years so let’s stop with this crap about its harder today than it was back in the old days.

The best investors in the world, Paul Tudor Jones, Warren Buffett, Stanley Druckenmiller, George Soros return on average between 20% and 40% per annum and generally speaking closer to 20% than 40%. But they do it year after year and they started out small, every one of them and they compounded their money and learnt how to beat the average. Beating average is all you have to do and to beat average is not difficult, you just need patience and discipline.

Did you know that $100,000 at a 25% return on investment per year, compounded over 15 years is $2,842,171? $50,000 compounded over the same time frame at the same return is $1,421,085.

Most people look at those numbers and say the following to themselves subconsciously and sometimes out loud. "I cannot relate to those numbers and I cannot see myself earning that sort of money, and besides I don't have the time."

If you find yourself thinking that way let’s just do this. Don't do anything, keep doing what you are doing, pass the time that you have left just being average and you are destined to bring to reality your biggest fear. Running out of money before you die.

But it’s not the running out of money bit that we are really all afraid of. It's the experiences that we dream about that one day we want to fulfil because all our lives we've been busting our asses trying to get to a stage where we can enjoy them. But in reality if most people just continue to do what they are doing they are destined to die with those experiences still only a dream and never fulfilled.

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Yen falls on sales tax and election speculation.

The Japanese PM is rumoured to be considering calling an early election and delaying a sales tax increase and this has only added more selling pressure to the Yen.

Bloomberg reports that Abe is considering an election date of December 14th or December 21. It is clear the sales tax increase in March has added to the woes of the government’s inflation plans and the BOJ's response to increase its bond buying program is evidence of this.

The Yen does appear to look oversold however with the economic fundamental volatility continuing in Japan there is no reason why the Yen's slide can't continue well into 2015 and the price of 120.00 for the USDJPY is attainable.

For the full LTG GoldRock Review go to www.ltggoldrock.com for more details.

The AUD finally breaks to a new low.

The Australian Dollar has finally broken to a new low Wednesday thanks to the price of Iron Ore which dropped to its lowest level in 5 years. Today at 11.30am Sydney time we will get the latest official unemployment report which if weaker than expected will only add more selling pressure to the AUD.

The US Dollar also gained again after a private ADP employment report survey beat market estimates with 230,000 jobs being created in the month of October.  Don't forget to catch the full Forex Fundamental News in the LTG GoldRock Insider Report go to www.ltggoldrock.com for more info.