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RKTP Capital Management is independently owned with over 14 + yrs experience in the derivative & securities industry, knowledge of the Foreign Exchange & Precious metal markets , along with trading in Capital markets. This combination of experience and ownership cultivates an environment... More
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  • Cyprus, CAD Movements...Precious Metal Breakouts 0 comments
    Mar 27, 2013 10:11 AM

    Markets continue to ride the "uncertainty" theme.

    For the past few days...Cyprus has been dominating headlines as Europe's crisis spreads to weaker nations. Yet, in 2012....the "PIIGS"(Portugal, Ireland, Italy, Greece & Spain) nations had not resolved any of their issues and market "stimulus" by central banks have only prolonged the evident problem of "insolvency".

    Germany has maintained it's stance of the "provider of funds" in assisting the ECB...yet adding clauses such as the recent Cyprus situation to involve "tax levies" on large depositors. GDP continues to remain an issue in not only the U.S but more so for Europe. If Cyprus or when Cyprus loses it's "long time safe-haven tax status"....which nation will benefit from Russian investors that have excess to invest?

    USD/CAD movements have remained choppy and for those who trade this currency pair...have noticed "parity and beyond" in the past few weeks. Sooner or later the USD/CAD will trend back into 1.0400 to 1.0500 territory..and when this happens expect higher levels to remain.

    Precious metals have benefited from 2 main factors...."stimulus injection" and continual "uncertainty" as the "safe-haven metals" rise once more. If we see gold break above key resistance @ $1647-$1651....$1700 and higher will be back in range. As for Silver....unable to break above mid $30 range...yet one of the biggest movers if it can break key lvls @ $49.50 back in 2011.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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