Gold Tumbles on Russia

Gold Tumbles On Russian Declaration

Morning Report: 09:00 London
• This morning, as Russia recognises Crimea’s independence, financial markets are pulling back from yesterday’s relief rally. The referendum passed without incident and while the long term situation is still unclear, markets seem to only be concerned about the prospect of military action – something that has so far thankfully been avoided.
• Gold and silver are seeing the biggest sell off as investors offload previous bullish positions in the lead up to the crisis.
• The Australian and New Zealand dollars are also under pressure after the release of the last RBA minutes.
• The yen pairs are on the slide, helped by the ongoing bear market in the US dollar index.

Coming up today:
• Coming up today we have German ZEW Economic Sentiment at 10.00.
• From 13.30 we switch to North America with Canadian manufacturing sales, US building permits & Core CPI.
• Bank of England Governor Carney speaks at 17.45.

Trade Idea:
• The AUD/USD looks to have hit an overheard buffer and is pulling back sharply.
A trend reversal could be in the offing and a good way to play this is a LOWER trade predicting that the AUD/USD will close below 0.9025 in 3 days time for a potential return of 213%.


Note: This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.

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Passport Application and Renewal 2014

The Department of Foreign Affairs has issued the following tips to facilitate applications for passports:

1. Applicants should contact the DFA for the latest passport information. They could visit the DFA website (www.dfa.gov.ph) or call their hotline 834-3222, 834-4000 or for any passport questions call 737-1000.
2. They should apply for passports way ahead of their scheduled trip. Applicants should check the validity of their passports and update their documents accordingly. A passport is valid for five years, but airlines and countries require passports with validity of six months prior to the expiry date.
3. Applicants should prepare their requirements before their appointment date. These include the completely filled-out application form given at front desk, the old passport and photocopies of its front and back pages, including latest date of departure and arrival , and valid Visa photocopy if applicable for renewals. Seamen need to have the 1st page of Seaman's book , SRB ID and latest departure & arrival copied; the National Statistics Office-certified birth certificate for new applicants, and valid IDs such as SSS, Driver's License and their photocopies for both type of applicants. Once you get your number, it's better to have the List of required photocopies from the DFA guard and have your xerox done at JRS Express for only P1.25 each, located at basement of Rob Galleria . This way can save you much time in queuing again for photocopies for P2.00 each inside the DFA office.
4. They do not need to bring ID photos, as their photographs and thumbprints will be taken on the site. A formal wear is advice if not your best semiformal wear with collars. One strange thing which I personally don't like is they would like to take your photo with your teeth hiding then you won't have your best smile.
5. Non-OFW and Metro Manila-based applicants should secure an appointment when applying for a passport. They can log on to www.passports.com.ph or call 737-1000, free of charge. I have personally tried their online appointment system and it didn't work for me even if I tried it four times. Applicants are also advised to come on time for their appointments.
6. Those in the provinces can apply at the nearest Regional Consular Office or check if there is a scheduled Mobile Passport Service (MPS) in their areas. The DFA RCOs are located in 19 cities and municipalities around the country, and MPS are being arranged in Metro Manila and in the provinces on a weekly basis. One caveat, I heard one applicant came from Davao and he prefer to do it here in Manila because if he do it in Davao , he can get the passport in three months. I think it depends on how far it is from Manila and if I were you ask before you apply.
7. For Prospective Overseas Filipino workers (OFWs). They used to have the Passport Extension Office located at the ground floor of the Philippine Overseas Employment Agency (POEA) in Ortigas which is exclusive for OFWs. I have tried it and it's not available anymore , the nearest one is located at Robinson's Galleria mall and the queu starts as early as possible but they only open during mall hours starting at 10:00 am. Shortened passport processing and releasing time for emergency cases is also being implemented. One needs an expiring passport, a Contract of employment, visa , Ticket and you can have your passport validity extended for another year if you have enough blank pages . It costs only P200 and you may get your passport the next day .
8. The DFA advises applicants against dealing with fixers. They are also urged to report any passport fixing activities to the Passport Director's office at 836-7759 or 834-2222.
9. The Philippine ePassport costs P950 for regular processing (15-20 working days) and P1,200 for expedited processing (7-10 working days). Applicants may have their passports delivered to their preferred address. This is to avoid the hassle of coming back to the DFA. Passport delivery charges a nominal fee of P120 within the country. One caveat, there will be another 3 days delay from the date of passport release
10. Take good care of your passports. You should avoid getting it wet and torn. This is to protect the electronic chip and the other security features of the passport and to save you time, effort and money . I personally spent 7 hours from waking up at 5 am to the time I get my photo taken at DFA around 12:15 am and would like to complain about their opening time of 10:00 am when most of us arrive there before 7 am.

Source: DFA , website and my personal experience

Market on China Concerns

Markets Grind To A Halt On China Concerns

Morning Report: 09:00 London
• This morning, financial markets are tightening as concerns rise about China’s future growth potential. In a related move, copper futures have taken a beating as speculators bet that China’s growth and construction rate will start to slip. The S&P 500 futures are largely unchanged.
• Gold and silver are seeing the opposite move as safe haven demand increases. Gold is up 0.56% so far this morning.
• The NZD/USD is also up another 0.24%, but Australian pairs are being hindered by China concerns.
• The yen pairs are generally lower, though movements are slight so far.

Coming up today:
• Coming up today, we have European industrial production due at 10.00 with an increase of 0.6% expected.
• Aside from this, it’s a quiet day until the RBNZ rate statement this evening.

Trade Idea:
• The EUR/GBP has risen sharply this week despite warnings from the Bank of England of future rate hikes.
• With resistance just overhead, now could be a good time to bet on a downside move.
A LOWER trade predicting that the EUR/GBP will close below 0.8300 could return 233% if successful.


Note: This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.

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AUD Pulls Ahead on Extended Gains

Aussie Pulls Ahead As Dollar Declines

Morning Report: 09:00 London
• This morning, the Australian and New Zealand dollars have extended their recent gains after big plunge in the dollar index yesterday.
• Stock markets are steady at the highs while the dollar index continues to slip.
• The euro in particular saw sizeable gains yesterday, with more interest this morning.
• Commodities have continued to ease as the situation in Ukraine de-escalates further.

Coming up today:
• The big ticket this morning is the Non Farm Payrolls from the US around 13.30. It’s going to be an explosive time, with Canadian employment data released at the same time, alongside trade balance and unemployment rates.
• Before this we have UK consumer inflation expectations as and German industrial production.

Trade Idea:
• Gold has been rangebound since the Ukraine crisis broke despite yesterday’s big decline in the dollar index.
• The precious metal is still running a little hot though, so there could be an opportunity for a breakout weighted to the down side.
An IN/OUT trade predicting that gold closes outside of either $1300 or $1370 in 7 days time could return 216%.


Note: This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.

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