Sunday, December 28, 2008

Benefits of Online Forex Trading

Online forex trading has become very popular due to the ability of the computers to make complex charts which was not possible in the past as people could not afford to access the internet and high powered computers in their homes.
Benefits of online forex trading
This is very important in contributing to the growth of the forex trading industry to the extent that the daily transactions have been increased to two trillion USD.
Opening of an online forex trading account is very easy as there are many people who can offer this kind service to the trader. But they need to be very sure that they too deal with the same kind of currencies which the trader is interested in. There accounting online course free practice accounts allowing to test the skills of the trader offered by the provider with the usage of funny money before making transaction with real cash. The traders can trade in different markets with different currencies at the same time without any problems.
This is only possible online interior design course of online forex trading. This has brought in lot of flexibility and liquidity in online forex trading. The trader is able to trade and access quotes in real time with online forex transactions. Another important benefit of online forex trading is that, it has eliminated the bulls and bears of the trade.
We can say that the only trade market without the bulls and bears is the online forex trading market.
The most prominent feature of online forex trading is the way it is being operated transparently. There is no hide and seek involved in the process. It makes it easy online education course and spot trends making the decision to buy or sell at the right time with ease. This is only possible due to availability of the information instantly to everyone all over the globe.

Online forex trading does not involve any commission, or exchange fees, or hidden costs etc. The trade is done in a very fast pace as there is no online interior design course of any delay involved in it. It takes only seconds to execute the trade, fill or confirm the same. Also it provides greater leverage to the small traders than any other market could offer them.
Although there is lot of benefits involved in the online forex trading, there is also a flip side to it. Not everyone who had invested their money in online online interior design course trading has become rich. The reason for that is online forex trading is very risky. The trader has to take a decision within a transaction of the second which can end up with a profit or with a loss.

Sunday, December 21, 2008

Chinese banks:-Help finance Taiwan investors

China pledged on Sunday to make available to Taiwanese investors in the mainland 130 billion yuan ($18.99 billion) in financing over the next three years, in Beijing's latest effort to reach out to political rival Taiwan. Ties between China and Taiwan, separated since the end of the Chinese civil war in 1949, have warmed since Taiwanese president Ma Ying-jeou took office in May. On Monday the two sides opened direct daily passenger flights, new shipping routes and postal links for the first time in six decades. [ID:nTP350629]

Wang Yi, head of China's Taiwan Affairs Office, made the financing pledge at a meeting with Taiwanese politicians in Shanghai.
Three banks would provide the money, he said. Industrial and Commercial Bank of China and Bank of China would provide 50 billion yuan each.
Policy bank China Development Bank would provide 30 billion yuan, in addition to another 30 billion yuan pledged previously, Wang said. He provided no other details of the financing.
His remarks were part of a flurry of economic diplomacy by China, which has so far suffered less from the global economic crisis than its neighbours and is presenting itself as a stabilising force in the region. ($1=6.844 Yuan) (Reporting by Ben Blanchard; Editing by Tomasz Janowski)

Forex Dollar:- Jumps vs euro biggest daily gain in 2 months

The U.S. dollar jumped against the euro on Friday, posting its biggest daily gain in almost two months, after traders said the greenback's slump earlier this week may have been overdone.

The dollar also gained ground after the U.S. government said it will provide loans to Detroit carmakers crippled by the economic downturn. The Bank of Japan's interest rate cut to nearly zero also lent support to the greenback.

"We've seen an extraordinary amount of volatility over the last few sessions and part of that is due to the fact that it's year-end and month-end for a lot of banks and institutions," said Steven Butler, director of foreign exchange trading at Scotia Capital in Toronto. What this ECB move did was, for all intents and purposes, it knocked down the euro's interest rate advantage versus the U.S. So it made it less attractive to hold euros," said Ronald Simpson, managing director of global currency analysis at Action Economics, in Tampa, Florida.

In late afternoon trading in New York, the euro was down 2.8 percent at $1.3887 after hitting a low of $1.3826, according to Reuters data. The euro hit $1.4720 on electronic trading platform EBS on Thursday, its strongest since late September.

Despite Friday's pullback, the euro is on track post a weekly gain of more than 3 percent against the dollar.

The euro fell 3.1 percent to 123.79 yen .

Analysts said once the year-end flows are out of the way and investors return to their allocation for the coming year, the worsening economic backdrop in the eurozone should come back to weigh on the region's currency.

"The European Central Bank is not done lowering rates yet," said Greg Salvaggio, a vice president for trading at Tempus Consulting in Washington D.C. "That in itself is a negative for the currency."

Salvaggio added he expects the euro to trade in a range of $1.35-$1.37 until the end of the year.

Friday, December 12, 2008

Central Bank of Brazil Sells $1.2 bln In Forex Swaps

Brazil's central bank sold about $1.2 billion in dollar swaps in an auction on Thursday, rolling over a similar batch of paper coming due on Jan. 2.

The bank sold 24,400 of 69,500 contracts on offer.

Brazil's currency, the real BRBY, extended gains after the auction, surging almost 4 percent to 2.336 per dollar.

In addition to selling swaps, the central bank has also sold dollars and dollar repurchase agreements in recent months to add liquidity and reduce volatility in the foreign exchange market.

Friday, December 5, 2008

Forex:-Dollar little changed, traders await US jobs data

The dollar was little changed against the euro and the yen on Friday, as investors awaited U.S. jobs data which is expected to show that the U.S. economy is deteriorating further and may need more interest rate cuts. The euro held slight gains made the previous day, when the European Central Bank delivered its biggest interest rate cut ever, slicing 75 basis points off its key lending rate to 2.75 percent to support its economy in the face of a global recession.

Traders awaited U.S. non-farm payrolls for November, which are forecast to show a loss of 340,000 jobs. Such a reading would mark the biggest monthly drop in more than two decades.

Analysts said that speculation was growing that the figure could be even worse, and currencies were likely to take a cue from how equity markets react to the announcement at 1330 GMT. Markets are prepared for quite a big negative number," said Ian Stannard, senior foreign exchange strategist at BNP Paribas in London.

A big negative figure would add to the view that the U.S. economy is slowing down sharply, warranting a weaker dollar. But he pointed out that indications that the global recession is deepening could heighten risk aversion and possibly boost the dollar. "If we do see equity markets coming off sharply and it turns into a global equity markets sell off, then we could well see currencies coming back under pressure against the dollar, so it could actually be a dollar-positive."

At 0841 GMT, the euro was little changed at $1.2760, after inching up to a session high of $1.2795 early in the London session. Against a basket of currencies, .DXY, the U.S. currency was flat at 86.632, while hovering around 92.18 yen, roughly 0.2 percent lower on the day. The dollar and the yen have benefited from risk aversion as an increasingly grim global economic outlook has battered stock markets and other asset classes.

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