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Traders' Mental Blind Spots: How Hidden Flaws
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Date/Time:   Tuesday, March 15, 2016; 1:00 PM - 2:00 PM EST

Presenter:     Dr. Gary Dayton, TradingPsychologyEdge.com 

About the Presentation

Business: Asian markets subdued by falling oil prices

The price of US crude oil dropped more than 3% overnight, while Brent crude was back near 11-year lows on reports that Iran plans to increase exports once sanctions are removed, which would add to the global supply glut.

Lower energy shares across Asia weighed on benchmark indexes. 

Japan's Nikkei 225 index was down 0.1% to 18,850.17 in morning trade.

JSE opens firmer as Gold and Platinum Stocks recover Prices.

THE Johannesburg Stock Exchange opened firmer in early morning trade on Monday as gold and platinum shares recovered on higher commodity prices.

The gold price gained 0.31% to $1,092.76/oz and platinum was up 0.45% at $939.30 after the opening.
The all share was sold off by more than 2% on Friday on the expectation of a US rate hike in December.
Asian markets were mixed on Monday, with the Shanghai Composite index up 1.59%, while the Hang Seng lost 0.24%. The Nikkei 225 climbed 1.96%.
US markets were generally stronger on Friday on the upbeat US data. The Dow closed 0.26% higher.
At 9.29am the all share was up 0.60% at 53,280.30 points and the blue-chip top 40 had added 0.63%. The gold index was up 3.83% and platinums gained 1.09%. Industrials added 0.68% and financials were up 0.49%.

Lloyds Bank rise in third quarter profit- Report

Lloyds Banking Group has said pre-tax profits for the three months to the end of September rose to £958m, up from £751m a year earlier.

 

However, the bank's shares fell as it set aside more money to compensate customers over the mis-selling of Payment Protection Insurance (PPI).

Buhari endorsed restricing foreign- exchange trading

President Muhammadu Buhari says he is opposed to a further weakening of the naira, and has endorsed the Central Bank’s policy of restricting foreign-exchange trading.

“I don’t think it is healthy for us to get the naira devalued,” Buhari said in an interview in Paris with France 24, broadcast yesterday.

The Central Bank is providing ample foreign exchange to “essential services, industries,” he said.

 

The unqualified presidential backing of the policy of Central Bank Governor Godwin Emefiele, is bound to dampen the clamour by analysts and portfolio managers for a further weakening of the currency of Africa’s largest oil producer.

After a halving of oil prices in the past year, the Central Bank of Nigeria reacted to the naira’s drop to a record low in February by extending trading curbs and introducing bans on purchases of dollars by certain importers.

Heavyweight sub-Saharan Africans face East Africa trade Hub Rivals

East Africa is emerging as a trade hub to rival sub-Saharan Africa’s two heavyweight states of South Africa and Nigeria, according to analysis by Barclays published on Thursday.
However the UK bank identifies five “sleeping giants” that present significant new opportunities for foreign companies; Ethiopia, the Democratic Republic of Congo, Mozambique, Tanzania and Ghana.

This quintet which are “playing catch-up after significant political and economic upheaval. . . are increasingly attractive to foreign firms and international investors with an eye on long-term returns from fast-growing markets,” Barclays said in its inaugural Africa Trade Index.
Matt Tuck, head of global corporate banking at Barclays, said the five were open to international trade and had rapidly growing populations that are likely to reach 325m in total by 2020, comparable to that of the US.

China Shares end lower despite rate cut

The mainland's benchmark Shanghai Composite fell 1.27% to 2,927.29, after veering in and out of negative territory.

 

It had fallen about 16% this week, rocking global markets.

On Tuesday, China's central bank cut its key lending rate by 0.25 percentage points to 4.6% in a bid to calm stock markets after the past days' turmoil.

UK Laws to Propose Longer Sunday Trading Hours

The proposal expected in Wednesday's Budget could give elected mayors and councils powers to relax laws locally if it might boost economic activity.

 

Current laws allows smaller shops to open all day, but restrict those over 280 sq m (3,000 sq ft) to six hours.

The Association of Convenience Stores said some small shops could struggle.

Technical glitch may affect Nigerian bond trade

Trade in Nigerian bonds was affected by a technical fault that traders said may persist to next week.

 

Trade on local debt was stalled after the glitch affected central bank’s trading platform, traders said, adding that they were concerned the problem that started on Wednesday could run into next week, threatening bond settlement in the interbank.

African Economies Panic over China’s slowed Growth

African economies are now jittery over slowing growth in China.

The fear really spans from the fact that the region could lose huge aids and trading partnership (in terms of commodity export) from the second largest global economy.