Sunday, March 30, 2008

open higher againet US.Dollor In Forex

March 31 (Bernama) -- The ringgit opened higher against the U.S. dollar today on active buying of the local currency amid weakening of the greenback in the global market, a dealer said.
At 9.28 am, the ringgit was traded higher against the U.S. dollar at 3.1920/1855 compared with 3.1950/2000 at Friday's closing.
The dealer said trading of the greenback for this week is expected to remain lower on renewed concerns over the health of the U.S. economy following signs of slowing consumption in the U.S.
He said this had sent nervous among investors, making them fleeing to other safe haven investments such as in the Asian marekt in order to reap better returns.
The ringgit was also traded higher against the Singapore dollar at 2.3093/3133 from 2.3142/3197 but lower against the yen at 3.1937/1973 from 3.1928/1984 previously.
The ringgit was firmer against the British pound at 6.3638/3710 from 6.3722/3882 and strengthened against the euro at 5.0311/0368 from 5.0344/0432.

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Friday, March 28, 2008

ECB Current account

The current account deficit -- the widest measure of eurozone trade and
financial transactions with countries outside the 15-nation area -- came in higher than the 7.0 billion euros forecast by analysts polled by Thomson Financial News."This reflected deficits in current transfers (10.3 billion euros) and income (4.7 billion euros) which were only partly compensated for by a surplus in services (4.2 billion euros)," the bank said in a statement.photoWednesday's press release marked the first that new eurozone members Cyprus and Malta were counted in the balance of payments, although the ECB said the two countries had only a minor impact on the overall euro area results.In the financial account, combined direct and portfolio investment recorded net inflows of 22 billion euros in January, compared to 17.5 billion euros in December.

Net inflows in portfolio investment alone reached 54 billion euros while net outflows in direct investment hit 32 billion euros.

Wednesday, March 26, 2008

Skyrockets Trichet Intensifies

Central Bank President Jean-Claude Trichet gave a speech saying that inflation remains the big problem in the euro zone.In his testimony before the European Parliament, Trichet said euro zone inflation is expected to remain significantly above 2 percent for most of 2008, lowering the likelihood that the central bank will slash interest rates anytime soon. Earlier this month, Trichet said that inflation would stay above 2 percent for the coming months but moderate gradually later this year. He warned of downside risks but said that the ECB's 'current monetary policy stance will contribute to achieving our price stability objective'.The euro skyrocketed more than a penny to $1.5738, moving back towards its record high of $1.59, set earlier this month.

Saturday, March 22, 2008

Pound Generally

Friday, March 21, 2008 3:05:13 PM - The British pound saw little change on Friday in New York after seeing mixed results earlier in the week. Markets in Europe and North America are closed today in observance of Good Friday. Early next week, pound traders will watch for Rightmove House prices data for the month of March.
The pound traded near a weekly high against the euro on Friday. The pair moved at 0.7790 in the afternoon in New York. The pound has seen strength throughout much of the week against its European counterpart. Traders considered data showing French household consumption expenditure on manufactured goods increased 1.2% month-on-month in February, reversing a revised fall of 1.3% in January.
The pound was level with the greenback after hitting a two-week low in the middle of the week. The pair moved at 1.9812 in the mid-afternoon. Earlier in the week, the pound traded as high as $2.0272 against the dollar, but fell back after the U.S. Federal Reserve cut its interest rates by 75 basis points.
In other trading, the pound moved at 196.93 against the yen and 1.9980 against the Swiss franc.

Thursday, March 20, 2008

Dollar under pressure on rate cut

The dollar weakened against the euro Wednesday but drew some support from a decision by US regulators to make an extra 200 billion dollars available to the troubled US housing market.
The single European currency in late-day trade was at 1.5629 dollars against 1.5626 late Tuesday in New York.
The dollar was meanwhile trading at 99.06 yen, down from 99.72 on Tuesday.
The US greenback was on the one hand under pressure from the Federal Reserve's three-quarter point cut in its benchmark interest rate to 2.25 percent on Tuesday, aimed at settling turbulent credit markets and warding of a US recession.
But the move widened the gap between rates in the United States and the eurozone, where the European Central Bank has held its principal rate steady at 4.0 percent, making the euro far more attractive to investors.
Later in the day however the dollar recovered lost ground after US regulators said they would allow government-sponsored mortgage lenders Fannie Mae and Freddie Mac to pump an extra 200 billion dollars into the housing sector.
The Office of Federal Housing Enterprise Oversight (OFHEO) said it would allow the two firms to invest a portion of their 30 percent capital surplus in mortgages and mortgage-backed securities.
The new regulations will lower the minimum capital requirement for the two agencies to 20 percent from 30 percent and add badly needed cash to the troubled sector.

Tuesday, March 18, 2008

A JP Morgan Chase flag flies near the headquarters for Bear Stearns in New York, March 14, 2008. REUTERS/Lucas Jackson

An emergency rescue of Bear Stearns Co Inc stunned the Wall Street bank's staff and pummeled financial stocks on Monday amid fears that few banks are safe from deepening financial market turmoil.
Bear Stearns staff turning up for work found the value of their stock options in tatters and the future of their jobs up in the air.
But the grim mood spread further than Wall Street's fifth biggest bank as shares in European banks including UBS in Switzerland, HBOS in Britain and SocGen in France fell over 10 percent as concern swept markets that the value of risky assets needs to be marked down even further.

Sunday, March 16, 2008

Today Forex News

Jack CrooksThis dollar of ours is rapidly falling to depths where no dollar has gone before. In fact, to say that it's unclear when we can expect a recovery would be a gross understatement. I don't know about you, but most Americans still have the bulk of their savings — not to mention their walking around money — in dollar denominated assets. Whether you're on a fixed income and attempting to preserve the value of your dollars, or a FOREX trader looking for an entry point ahead of a dollar-reversal, we need to have a candid, no-holds-barred discussion about our currency.

So for now, go ahead and take your hand from over your eyes. The week is mercifully over and the thrashing has stopped. It won't get any uglier for the buck; at least not until Monday.

First, let's start by taking a hard look at the factors that sent the dollar plummeting earlier in the week ..

Saturday, March 15, 2008

Stop discipline in forex

There are significant opportunities and of course risks in the foreign exchange markets. Aggressive traders might experience profit/loss swings of 20-30% daily. This calls for strict self-disciplined stop-loss policies in positions that are moving against you.

Luckily, there are no daily limits on foreign exchange trading and no restrictions on trading hours other than the weekends. This means that there will nearly always be a possibility to react to moves in the main currency markets and low risk of getting caught without possibility of getting out. This market can move very fast and a stop-loss order is by no means a guarantee of getting out at the desired level.

The main risk is really an event over the weekend, where all markets are closed. This happens from time to time as many important political events such as G10 meetings are normally scheduled for week The main risk is really an event over the weekend, where all markets are closed. This happens from time to time as many important political events such as G-20 meetings are normally scheduled during the weekend.

Thursday, March 13, 2008

Forex won't hurt overall eurozone growth-Juncker

I don't think that this will harm economic growth in Europe as a whole," he told reporters.Asked whether the European Central Bank should take action to curb the strength of the euro, Juncker said: "I don't think that we should start to become hyperactive. We need to watch closely what is happening."
"I don't have any public recommendations for the ECB which is an independent institution," he said.
Juncker also said investors were over-reacting to short-term indicators and they should take a longer-term view instead.
"The American economy will come back to normal growth in a short period," he said.
(Reporting by Marja Novak, writing by William Schomberg, editing by David Christian-Edwards)

forex Ailing dlr sinks to new record lows

While U.S. rates are seen as falling by at least 75 basis points this month FEDWATCH, European Central Bank president Jean-Claude Trichet said there was no discussion of cutting rates from 4 percent at a rate setting meeting on Thursday.

He also declined to refer to the euro's rise as "brutal", simply saying that excessive volatility was bad for economic growth and that U.S. had a strong dollar policy.

"There's broad dollar weakness and Trichet's language was not threatening enough for dollar bears to think that there might be intervention from the ECB, giving the green light to sell the dollar," said Audrey Childe-Freeman, European economist at CIBC World Markets.

The euro rose to $1.5429 according to Reuters data, the highest level since its launch in 1999 and bringing its gains since the start of the year to over 5 percent .

The dollar fell to an all-time low against a trade-weighted basket of major currencies at 72.666 .DXY and against the Swiss franc hit a low of 1.0185 francs . It has now lost over 10 percent versus the low-yielding, safe haven Swiss currency since the start of the year. It also set a 3-year low at 101.82 yen .

Sunday, March 9, 2008

Forex Traders Apprentice to Like Losses

As a forex banker you accept to apprentice how to booty losses. Period. Don't be a crybaby. Apprentice how to booty losses.

Learning how to booty losses is one of the best important acquaint you charge apprentice if you appetite to survive as a trader. Nobody is 100% appropriate all the time.

Losses are inevitable. Even Michael Jordan and Tiger Woods lose sometimes and they're advised the best in their field.

There will be trading streaks area you'll accept a cardinal of acknowledged after trades, but that will eventually appear to an end you will booty a loss.

As that point it’s actual important not to lose your head, you charge abide in ascendancy of yourself. Don't accept a cow man.

Take a break. Calm bottomward and relax. Booty a arctic bolus dude.

Until you've regained a bright apperception and an adeptness to anticipate logically again, break out of the market.

Don’t beef about your accident and never backpack a ageism adjoin a loss.

The key to administer losses is to cut them bound afore a baby accident becomes a ample one.

I repeat. The key to administer losses is to cut them bound afore a baby accident becomes a ample one.

Never anytime anticipate that you will never lose. That's aloof ludicrous. Losses are aloof like profits, it’s all allotment of the trader’s universe.

Losses are unavoidable. Get over the accident and move on to the abutting trade.

Way To Batter Forex

My purpose for autograph this article is to authenticate to you the advantages of trading on the FOREX market. However, there is one allegory that I appetite to allay afore I go further. The allegory is that there is a aberration amid trading and investing. To allay that allegory I adduce from Al Thomas, President of Williamsburg Advance Company, who wrote “If It Doesn’t Go Up, Don’t Buy It”. He said “Everyone who invests is a trader, abandoned the time aeon is different.” It is a assignment that I took actively afterwards demography a assault in the banal bazaar in 2000.

So now, let’s analyze appearance of bill trading to those of banal and article trading.

Liquidity - The FOREX bazaar is the best aqueous banking bazaar in the apple about 1.9 abundance dollars traded everyday. The bolt bazaar trades about 440 billion dollars a day, and the US banal bazaar trades about 200 billion dollars a day. This ensures bigger barter beheading and prevents bazaar manipulation. It additionally ensures calmly executable trading.

Tuesday, March 4, 2008

mini forex trad

GCI is widely recognized as one of the premier providers of online foreign exchange dealing services. In addition to its Standard Forex Account, GCI offers a Mini Forex Account which offers a smaller contract size and lower margin requirements. Benefits include:
Rapid and fair trade execution. Market orders are confirmed within seconds at prices clicked on or accepted by the client. Furthermore, GCI has a "zero slippage guarantee" for all Forex Stop and Entry Stop orders that are placed at least one minute before the market reaches your specified price.
Zero commissions for all accounts. Client trading performance is enhanced by eliminating all commissions.
State-of-the-art trading software. The GCI trading software provides real-time prices in 15 major currencies, live charts, and real-time P&L and account equity tracking. We believe that this trading software has set new standards in performance and reliability.
USD or Euro Denominated Trading Accounts. GCI clients can now choose to maintain their account balance and P&L in either USD or Euros. Select the Base Currency you want for your account on the
account application.
Tight 3 - 5 pip spreads. Clients can trade on 3 - 5 pip spreads in major currencies and crosses, 24 hours a day.
Broad offering of financial products. In addition to currencies, you can trade mini versions of Dow Jones, Gold, S&P 500, other equity indices from your Mini Forex account. Trading opportunities and profit potential are that much higher. Click
here for a full list of products and specifications.
$500 minimum account balance. GCI provides access to spot forex trading for individuals as well as institutions. Margin requirements are $50 per lot.
Risk is limited to deposited funds. GCI's sophisticated margin and dealing procedures mean that clients can never lose more than their funds on deposit.
Hedging Capability. Clients can open positions in the same currency in opposite directions, without the positions offsetting and without using additional margin.
Tools for successful trading. GCI clients benefit from a wide array of resources to improve their trading results, including market analysis and research, real-time charts, and free Forex trading signals For More Information Go Hear

forex marking tips

The Foreign Exchange market, also referred to as the "Forex" or "FX" market is the largest financial market in the world, with a daily average turnover of US$3.2 trillion."Foreign Exchange" is the simultaneous buying of one currency and selling of another. Currencies are traded in pairs, for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY).There are two reasons to buy and sell currencies. About 5% of daily turnover is from companies and governments that buy or sell products and services in a foreign country or must convert profits made in foreign currencies into their domestic currency. The other 95% is trading for profit, or speculation.For speculators, we believe the best trading opportunities are with the most commonly traded (and therefore most liquid) currencies, called "the Majors." Today, more than 85% of all daily transactions involve trading of the Majors, which include the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar.A true 24-hour market from Sunday 5:00 PM ET to Friday 5:00PM ET, Forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, London, and New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day or night.The FX market is considered an Over The Counter (OTC) or 'interbank/interdealer' market, due to the fact that transactions are conducted between two counterparts over the telephone or via an electronic network. Trading is not centralized on an exchange, as with the stock and futures markets.More information

Monday, March 3, 2008

Forex Daliy Overview

On Wednesday, the euro jumped to a three-week high against the yen as a rise in U.S. stock markets fueled investors' appetites for higher-yielding currencies.
The US dollar strengthened vs. the major currencies after data showed US inflation rose in January, casting doubt on expectations the Fed will aggressively cut interest rates. As the US economy slows down, inflation may cause implications on the Fed slashing overnight rates by another half percentage point from the current 3 %.
Although the euro gained versus the yen Wednesday, it was unable to advance against the dollar as concerns began to mount that the U.S. economic slowdown and tighter credit market conditions might soon be passed on to the euro zone.
The Sterling weakened against the dollar after stronger than expected US CPI data. This morning, minutes from the Bank of England's February policy meeting was released, which added further pressure to the pound.
The Japanese yen weakened against the dollar after stronger than expected US CPI data. With encouraging CPI data, carry trade advanced to the forefront, strengthening the greenback against the yen.
Other higher-yielding currencies such as the Australian and New Zealand dollars also advanced as U.S. equity markets shrugged off persistent worries of a U.S. recession and new concerns about rising inflation. The Australian dollar gained ground Thursday, continuing to draw strength from favorable interest rate spreads and signs of renewed stock market stability.

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