Forex Trading House

Forex Trading The Mindset to Win

2009-01-25T00:32:00.000-08:00

Today in there have been so many sites which will indicate recommendation upon subsequent in a Forex marketplace as well as a little will have a little unequivocally confidant statements, how to have a billion dollars traffic Forex etc. Will indicate out to we which a greatest rivalry we face is not a marketplace itself, though rsther than your own emotions. Emotions have been still mostly a disproportion in between success as well as failure. One critical statistic is which 95% of traders will go broke, as well as this has a lot to do with a romantic psychology of those traders. This is loyal in only about any wake up which involves monetary risk. It is unequivocally not all which opposite from personification a elementary diversion of poker. If we begin out being fearful of losing afterwards it is some-more expected we have been starting to lose. People which have a many appropriate gin rummy face lend towards to win poker.
It is flattering many supposed which many tellurian beings have an inherited enterprise to prosper. This enterprise is what creates disaster so damn frightening. In many cases it doesn’t have a difference how we have your last preference regularly ensue with certainty gradual with caution.
Whether we have use of technical research or elemental research or flip a coin. It unequivocally doesn’t have a difference as many as building your own investment strategy. Just ensue with it until we have been certain it is operative or failing.
Never let your fears take over, as well as rebound around with no pattern. Overreacting to each reversal will never work it will in conclusion means difficulty as well as difficulty will lead to a remove of money. However we should never get arrogant as well as let a tiny proxy success lead we in to foolishness, a single winning traffic doesn’t have we a traffic guru. Remain consistent as well as hang with your plan- devise a traffic as well as traffic a plan.
When we have been traffic with a Forex marketplace it has a little bizarre romantic landmines which we need to be wakeful of, as well as need to avoid, recollect step with caution. You have been traffic with a banking of unfamiliar countries as well as how they have been starting to be valued opposite a banking of alternative countries, a single of which is your own country.
Emotion additionally plays an critical partial when find a Forex Broker, don’t go indispensably with a attorney since we privately similar to them, find a Best Forex Broker since they have been great. If we have been uncertain who to traffic by a CFD FX REPORT has not long ago researched all a brokers as well as have finished this though tension if we would similar to to see who a experts indicate afterwards revisit there website. This may be a many appropriate traffic which we have is anticipating a Best Forex Broker .
It is critical to keep things in perspective. If we find yourself entertaining for Australian dollar as well as booing a US Dollar similar to they have been your a one preferred football group as well as a greatest rival, afterwards we should not be investing in this market, though saving for tickets to a subsequent Football match.
Investment of any kind takes self control, as well as romantic stability, as well as Forex is no exception.
Trading in many cases is a mindset as well as we have certain which we regularly have a transparent thoughts prior to fixation any trades. If we have any doubt, either it is something in your thoughts which doesn’t supplement up or a tummy feeling afterwards don’t place a traffic as there is regularly some-more traffic opportunites.

National Bank of Ukraine sells our $65 m on interbank market

2009-01-21T08:03:00.000-08:00

National Bank of Ukraine sold $65 million on the interbank forex market on January 20 at UAH 7.90 per U.S. dollar, whereas sales on January 19 amounted to about $111 million at the rate of UAH 7.98 per U.S. dollar, an NBU official said. The NBU is helping the market return to a market rate of less than UAH 8 per U.S. dollar," said Valeriy Lytvytsky, the head of the group of advisors to the NBU's governor. Today, the NBU sold $65 million: the average weighted rate on transactions with the U.S. dollar is expected at a level no more than UAH 7.95 per U.S. dollar.

He said the average weighted forex rate on all operations with the U.S. dollar on the interbank market on January 20 was UAH 7.93 per U.S. dollar, and the overall amount of trade in dollars on Tuesday was $241 million, whereas on Monday it was $205 million. He also noted that the NBU had not used yet International Monetary Fund assets to make forex interventions aimed at propping up the hryvnia. I believe that the current talks with an IMF mission (the arrival of the IMF mission to Kyiv was put off from January 20 until January 21 for technical reasons) will be a success. The central bank feels confident, as our forex reserves are in a good state. He stressed the need for an immediate review of the 2009 budget, as it "cannot stand any criticism of the macroeconomic indicators.

Forex Trading Oil prices and Canadian dollar

2009-01-11T13:05:00.000-08:00

Canada doesn't rank at the top of oil producing countries. Many others are bigger. Saudi Arabia, Russia, Kuwait and others. Nonetheless, Canada has been an exporter of crude for a long time and being a neighbor of USA, the biggest oil consumer, raises Canada's stature in the field of this important commodity. There are huge oil reserves locked in the “black sands” of Alberta.

Until recently exploitation of these deposits has not been economically viable. Now, however, with oil embargoed press release around 80 US dollars per barrel, production can go on in earnest. Conventional wisdom among Forex traders was that it could be used in their decision making process. Only how? Conventional wisdom has been to go long CAD/JPY if one anticipated media releases oil prices.

In theory it makes sense. Japan is an importer and Canada an exporter of oil. It should work, right?

If one has an outlook for many months or even years to come, this particular notion might make sense. Not on any shorter time scale, though. Recent developments are perfect example. Oil has just reached an all time high of 80 dollars while CAD/JPY is still about 700 pips from writing press release recent high. Besides, despite much research and many tries, nobody has demonstrated that either one of these financial instrument is a leading indicator for another. So there is no clear way to take advantage of this correlation on regular bases. There are prices of many other commodities , like metals and agricultural products. There is the government spending, unemployment, taxes and interest rates.

Entire spectrum of factors. Besides, there are better ways to play oil market. Futures and stocks of oil producers can deliver better returns if one is correct on crude price direction.
United States is a consumer of virtually all of Canadian oil surplus. These two countries are their respective biggest trade partners.

What's more important, price of oil is better correlated to USD/CAD than any other liquid currency pair. USD/CAD followed crude prices to levels no seen in 30 years. We are sitting at 1.0300 as of of this writing, just a step away from parity. With oil hitting all time high and USD/CAD on a threshold of this critical level, we will press realease see just how useful is oil price analysis when applied to Forex, or more precisely, CAD. Next few weeks can give us that answer.

China's finances:- Face tough 2009 -minister

2009-01-05T09:38:00.000-08:00

The year ahead will be difficult for China's fiscal picture as revenues fall and spending surges, the country's Minister of Finance Xie Xuren said on state television. Xie said an abrupt economic slowdown and shrinking corporate profits as well as tax cuts had contributed to a drop in revenues, just as the government has pledged to ramp up spending to support domestic demand.
The problem of unbalanced income and expenditures will be prominent in 2009,' Xie said at a government conference. China has declared that it will implement a 'proactive fiscal policy,' its code for expansionary spending, with the central government already pledging to usher in a stimulus package totalling 4 trillion yuan $585.7 billion. Faltering corporate earnings have started to whittle away at government revenues.

Fiscal revenues declined 3.1 percent in November from a year ago, a sharp reversal from strong gains made earlier in 2008. Xie said China's whole-year fiscal revenue in 2008 would be above 6 trillion yuan, implying an increase of at least 17 percent over 2007. State radio cited Xie as saying that China would continue to cut corporate and personal taxes in 2009, and that it wwould increase tax rebates for exporters, especially those in labour-intensive sectors.

Benefits of Online Forex Trading

2008-12-28T03:25:00.000-08:00

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.

Chinese banks:-Help finance Taiwan investors

2008-12-21T01:18:00.000-08:00

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

2008-12-21T00:44:00.000-08:00

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.

Central Bank of Brazil Sells $1.2 bln In Forex Swaps

2008-12-12T05:24:00.000-08:00

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.

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

2008-12-05T04:10:00.000-08:00

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.

Yen Advances vs Dollar and European Euro Stocks Eyed for Direction

2008-11-19T12:18:00.000-08:00

* U.S. data shows record consumer price slide in Oct

* Sterling rises, shakes off BoE minutes

* Anxiety abounds about future of US automakers

On 19th Nov, New York:- The dollar fell against the euro and sterling on Wednesday as U.S. stocks stabilized and big buy orders for the European currencies pushed them through key technical levels. A U.S. economic report showing a record slide in consumer prices last month also added to pressure on the dollar as it suggested the Federal Reserve may have to cut benchmark interest rates from an already low 1 percent.

Analysts, however, said investors remained skittish about the health of the world economy and were likely to take future cues from Wall Street's next move higher or lower.

"We saw euro and the sterling break through key trend lines and momentum traders jumped in and followed the moves to push them higher," said Brian Dolan, head of research at Forex.com in Bedminster, New Jersey.

But I think this is a false break because we're likely to see stocks relapse into negative territory, as there's no reason for them to rally in this environment.

Sterling added 1.5 percent to $1.5200 after breaking above the the $1.51 area, which Dolan said was a key trend line in a steady decline that began when it traded around $1.66. Traders shrugged off minutes from this month's Bank of England policy meeting that showed policymakers unanimously agreed to cut interest rates by 150 basis points and even discussed a bigger cut. The yen rises along with risk aversion because investors unwind trades in higher-yielding assets and currencies that had been financed with cheaply borrowed yen. Also of particular concern was the fate of the struggling U.S. auto industry, which some investors fear may fail to win emergency government loans.

Michael Woolfolk, senior currency strategist at The Bank of New York-Mellon, said bankruptcy for General Motors, Ford or Chrysler "could prove to be the next Lehman Brothers because of the systematic risk their failure would create."Markets tumbled in September when U.S. investment bank Lehman Brothers failed. Equities moved dramatically lower in October and the dollar and yen rallied, and most people still fear moves in that direction will reassert themselves," said David Watt, currency strategist at RBC Capital Markets in Toronto. Economic data on Wednesday showed U.S. consumer prices plunged 1 percent in October, while core prices that remove food and energy costs fell 0.1 percent.

Kathy Lien, head of currency research at GFT Forex in New York, said "less price pressure will give the Federal Reserve more room to cut interest rates," adding she expects the federal funds rate to drop to 0.5 percent from its current 1 percent next month.

Reserve bank Of India offers banks forex swaps

2008-11-12T04:43:00.000-08:00

The exports market worsened even more in October. As per the latest ABN Amro India Manufacturing PMI, the new export orders index slipped below 50, indicating that external demand shrunk as a number of India’s key export destinations are on the verge of recession. While an easing of commodity prices, especially crude oil, will reduce the imports bill, a sharp slowdown in exports could still keep the trade deficit close to $10 billion a month.

This week, the rupee may continue to hold on to its gains, on the back of some support from the equity market and the latest move by the RBI on dollar liquidity. The market will closely watch the Index of Industrial Production (IIP) data release for September on Wednesday. In August, the y-o-y percentage growth in the IIP had slipped to a decade low of 1.3%. However, performance in September could have been better, as suggested by a relatively better growth in output of the six infrastructure sectors during that month.

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2008-11-08T14:37:00.000-08:00

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Simple Way to Dramatically Improve Your Forex Trading Profits

2008-11-01T10:54:00.000-07:00

Forex markets for any period of time you will probably by now have developed your own unique trading system.
However the vast majority of systems could be improved upon and made a lot more profitable just by doing one simple thing. All you want to do is to simply weed out the riskier set-ups that are triggered by your system and only trade the ones most likely to make a profit.

This sounds obvious but let me explain this in more detail. Successful forex trading is all about finding high-probability trading set-ups. Most traders determine whether a particular trade is likely to be a winning one by using a variety of different technical indicators.

If they all agree and suggest that a currency pair is highly likely to go either up or down, then this is a high probability trade. Now if you go over every single one of your trades in the last few weeks you will probably be able to identify those positions which you were not very confident about when you placed the trade. Some of these may have turned out to have been winning positions but some will inevitably have turned out to losing ones.

In fact for a lot of people most losing positions will be those that were taken rashly on instinct or were trades that deviated from the strict rules of the system, so it's important to categorise every set-up to try and weed out these potential losers. You can do this quite easily. All you do is you give each potential trade a ranking out of 10 based on how confident you are the resulting trade will be a winning one. This could be based on your technical indicators, for example, or your past success rate trading similar set-ups.

Then it's simply a case of only trading the high probability set-ups, ie those which you've rated highly. You will probably never rate a potential position 10 out of 10 because no-one can be absolutely sure their position will be a winning one, but you should be able to find lots of 8's and 9's out of 10. These are the ones you should be trading. The other set-ups should be ignored. This simple step, which is extremely easy to do, can be enough to turn an unprofitable trading system into a profitable one so it's well worth your while to quickly analyse each set-up before you press the buy or sell button.

Dollar climbs two-year peaks, risk stays in focus

2008-10-23T11:51:00.000-07:00

Forex dollar scales two-year peak versus basket of currencies, Euro slumps to two-year low against dollar.

The dollar climbed to a fresh two-year high versus the euro and a basket of currencies in choppy trade on Thursday as investors nervous of a severe global recession kept their faith in reserve currencies.

A brief rise in stocks on Wall Street and aggressive dollar selling by the Brazilian central bank helped to lend some stability to emerging market currencies, limiting the dollar's upward momentum, analysts said.

Emerging market currencies have borne the brunt of the global financial crisis as U.S.-based investors offloaded assets in developing markets and repatriated the money.

Analysts were skeptical that the calm would be sustainable, with investors remaining wary of a sharp global economic downturn and a poor profit outlook for corporations.

"The Brazilian central bank intervened materially and bought reals against the dollar ... that seems to have calmed the price action, not only in the G10, but global currencies as well,

Dollar gains vs yen, falls vs euro as risk edges up

2008-10-16T11:46:00.000-07:00

Euro, dollar rise vs yen as modest risk-taking resumes

U.S. jobless claims fall, easing some economic worries

Global stocks tumble but Wall St points at higher open (Updates prices, adds comment, detail, byline)

New York, Oct 16 (Reuters) - The dollar rose against the yen on Thursday but slipped against the euro as investors hoped government moves to inject cash into troubled banks would get credit flowing and help stabilize world financial markets.

Trading was choppy, though, as worries persisted that fallout from the credit crisis that began more than a year ago will eventually plunge the world economy into recession.

Asian stock markets plunged on Thursday, led by a 11.5 percent decline in Japan's Nikkei average .N225, taking their cue from U.S. stocks, which on Wednesday posted their biggest one-day slide since October 1987.

That prompted investors to seek shelter in dollar assets, but that move faded a bit on Thursday as data showed the number of Americans filing for first-time jobless benefits fell last week and U.S. stocks opened on a steady note.

USDCHF-Forex Trading Signals Buy the USDCHF on SSI-based Forecasts

2008-10-02T12:02:00.000-07:00

USDCHF – Our contrarian positioning indicator accurately forecast that the US Dollar would rally against the Swiss franc through recent trade, and our SSI-based forex trading signals on DailyFX+ actually bought the USDCHF at 1.0887, 1.1016, and 1.1038. We see that the SSI continues to forecast USDCHF rallies, as the ratio of long to short positions in the pair currently stands at -1.64; 62 percent of traders are currently short the pair. We likewise see that forex trading crowds scaled back long positions, as USDCHF-buy orders fell 10.5 percent overnight. The SSI is a contrarian indicator and signals more USDCHF gains.

Forex US dollar deepens losses vs euro, falls 2 percent

2008-09-22T12:57:00.000-07:00

NEW YORK, Sept 22 (Reuters) - The U.S. dollar extended losses on Monday, falling 2 percent against the euro to a fresh three-week low, weighed down by worries about the fiscal impact of the U.S. government's $700-billion bailout plan aimed at addressing the global credit crisis.

The euro rose as high as $1.4775 versus the dollar, the highest since late August, according to Reuters Dealing, and down 2.1 percent on the day. That was the largest one-day rise since January 2001.

Also accelerating the euro's rise were stops taken out above $1.4728, traders said.

FOREX-US dollar trims rise vs yen as stocks clip gains

2008-09-19T02:52:00.000-07:00

The U.S. dollar trimmed gains against the yen on Thursday, after Wall Street shares surrendered some of their gains led by financial stocks.

The dollar cut gains to 104.78, coming off session peaks at 105.57 yen . The euro has also come off about 200 points from its highs of the session. It last traded at $1.4377 , still up though by half a percent from late on Wednesday.

Shares of Morgan Stanley tumbled on Thursday, dragging overall U.S. equities lower and weighing on the dollar.

Reserve Bank Cautions On Forex Fraud

2008-09-14T06:17:00.000-07:00

The Reserve Bank of India (RBI) has advised the people not to fall in the traps of fly-by-night operators. These operators are offering fraudulent offers to the people through e-mails, posts and couriers. The all also engaged in providing fictitious offers of winnings in lottery and money in the stock market. The bank has received number of complaints from various organizations, schools, exchange entities and individuals.

In a usual practice, such fraudulent operators’ demands account details of the individuals. They generally inform internet users and mailed them in their inbox. They also provide them some proofs of legal documents and account details.

The apex bank has already banned participation in lottery schemes under the Foreign Exchange Management Act, 1999. The bank has also scrapped the price of printing paper for currency notes. The per-unit printing cost is likely to fall significantly following the decision of the apex bank.

Asia's forex intervention may be a losing game

2008-09-06T01:47:00.000-07:00

Asian central banks have sold U.S. dollars in recent sessions in an attempt to rescue their battered currencies, but their efforts may prove futile against a resurgent greenback that has caught fire after a seven-year decline.

Many Asian currencies, which enjoyed a good run last year, have been hammered since late July, as the dollar soared amid concerns over capital outflows and slower economic growth in the region.Authorities in Thailand, Malaysia, Indonesia, India and the Philippines were spotted selling dollars in the foreign exchange market this week. South Korea intervened on Friday for a third day to defend the struggling won,

But so far, these attempts have been unsuccessful as the dollar's surge is just too strong to overcome, analysts say.

"At this point, they're (central banks) not trying to reverse it," said Win Thin, senior currency strategist at Brown Brothers Harriman in New York. "There is no way they can do it. The dollar is gaining across the board, But they are trying to sort of slow the move," Thin said. "They just want to make sure the market remains orderly."

Plunging oil prices, worsening global prospects, and expectations of eventual U.S. interest rate increases have underpinned a month-long recovery in the dollar.

Forex Battered sterling helps

2008-09-01T06:50:00.000-07:00

Sterling dropped to its lowest level against the dollar in more than two years on Monday after the UK's finance minister issued a pessimistic view of the economy, helping the dollar to extend broader gains.
The dollar index crept towards an eight-month high, but broad falls on global stock markets capped gains, allowing the Japanese currency to rise on cooling demand for risky carry trades that involve selling the low-yielding yen, Markets also braced for the onslaught of a strong hurricane on the Gulf of Mexico, which has shut down activities at oil companies in the region and pushed oil prices more than a percent higher.
Sterling dropped to its lowest level against the dollar since late April 2006 and hit a record low against the euro on comments from UK Chancellor of the Exchequer Alistair Darling that the economy was facing its worst downturn in 60 years.
In the case of cable, the dollar was at extreme undervaluation levels ... so from a longer term view the pair could be in for more adjustment," said Ian Stannard, senior currency strategist at BNP Paribas. Given that U.S. markets are closed for a national holiday on Monday, market participants said that the UK currency could be in for more losses when New York traders return to work on Tuesday.Gains against the UK currency helped to push the dollar index .DXY up 0.3 percent to 77.428, approaching 77.619 touched last week for the first time since late December.

Forex reserves dip below $300 bn

2008-08-26T09:14:00.000-07:00

On August 15, forex reserves fell by $3.8 billion to $296.21 billion mainly on account of an appreciation of the dollar against other currencies. Foreign exchange reserves went above the $300-billion mark in February this year and touched an all-time high of $316.17 billion in the week ended May 23, Reserves have, however, declined for the last six weeks. Even during the previous week, foreign exchange reserves fell by $5.6 billion and the decrease was attributed to selling by foreign institutional investors due to volatility in the Indian stock markets.

Forex Trading Strategy: Japanese Yen

2008-08-23T09:12:00.000-07:00

Yen rallies in currency tradingForex trading strategy should consider that the Japanese yen is on the rise right now. The yen is rallying in currency trading on the FX market as risk aversion sets in.

Most of the worries have to do with the U.S. financial markets. Concerns stemming from the financial sector are creating a situation in which investors are concerened about taking risks. This means that the yen carry trade is unwinding.

Dollar rally takes a breather as commodities rise

2008-08-18T12:58:00.000-07:00

U.S. dollar slipped against the yen and a basket of currencies on Monday, weighed down by a recovery in oil prices which gave investors the opportunity to take profits on the greenback's recent sharp rally.

But the dollar's losses were limited by the rise in U.S. stock futures as oil prices slipped and geopolitical tensions eased after Pakistan's beleaguered President Pervez Musharraf announced his resignation on Monday. The uncertainty over Musharraf had earlier raised concern in the United States and among its other allies that the issue was distracting from efforts to control violent militants in the nuclear-armed nation.

The dollar has come off because investors have realized that it has moved too far, too fast. At some point you would expect a pause," said David Watt, senior currency strategist, at RBC Capital Markets in Toronto.

Bombay Stock Exchange launch currency futures on September

2008-08-10T07:41:00.000-07:00

BSE Board of India (SEBI) will come next week to inspect our system, which is already in place, and we hope to launch the future contracts in currency by end of August or early September," the outgoing BSE managing director and CEO Rajnikant Patel said. Currency futures segment will be managed by a separate division of the exchange under a different structure and regulatory set-up. It will also have separate settlement from stock futures and cash segment as well as fresh set of members to participate in the currency futures market," Patel said.
SEBI for setting up the currency derivatives segment and is in line with the recommendations made by RBI-SEBI Standing Technical Committee report on currency futures which was released in May, It was also exploring strategic arrangements with entities in the forex market to gather domain expertise.

China revises forex rules to handle rising flows

2008-08-06T11:02:00.000-07:00

China has revised basic rules governing its foreign exchange system for the first time in 11 years to cope with growth in its foreign reserves and rising cross-border capital flows, the government said on Wednesday.
The approval process for overseas investment by Chinese companies and individuals was simplified, the cabinet, the country's forex regulator and the central bank said in a joint statement published on the regulator's website . Chinese companies can now retain forex income offshore if they wish. Previously, they were required to sell their forex income to designated banks in China or deposit it in accounts at those banks.
The revised rules require financial institutions to report changes in clients' forex income and payments to regulators. The rules were last revised in 1997, at the time of the Asian financial crisis, when Beijing was anxious to prevent large outflows of money.
With its foreign exchange reserves soaring to a record $1.81 trillion at the end of June this year from $1.68 trillion in March, the country is now keen to limit destabilising net inflows of money due to a huge trade surplus and foreign investment.

Easy Forex Trading Platform Got SixtyThousand Registrations In One Month

2008-08-05T10:56:00.000-07:00

Easy-Forex platform is based on the concept of Visual Trading™ which aims to simplify online foreign currency trading without compromising performance, CEO of the easy-forex group traders have responded positively.
We've obviously made a powerful move in the right direction and we intend to build on this with more products and features offering substantial new benefits, state of the art technology developed by Easy-Forex Technologies to provide an innovative new platform with a number of unique features such as The Inside Viewer™ and The Trade Controller.
Visual Trading Machine™ provides a quick display of the most current market information. Each element of the machine is designed to empower the user to make informed decisions about their portfolio of trades, optimizing their trading experience.
They can view the popularity and direction of 20 currency pairs being traded on the platform, and the aggregate structure of open deals. This feature sets a new standard of transparency amongst Forex platforms, users are encouraged to interact with the controls to set their desired stop-loss and take-profit values visually and simply.

Forex Ringgit Closes In Against Against US Dollar

2008-08-04T05:51:00.000-07:00

The ringgit closed lower against the US dollar Monday on selling pressure as traders took the cue from the weak performance by regional currencies, dealers said.
At 5pm, the local currency declined to 3.2665/2695 from Friday's closing of 3.2620/2650.
The dealers said that traders were reluctant to take heavy positions due to lack of fresh leads.
In late trade, the ringgit traded mostly higher against other major currencies.
The local unit was marginally higher against the Singapore dollar at 2.3801/3841 compared with 2.3802/3853 last Friday and it was also firmer against the Japanese yen at 3.0231/0270 from 3.0322/0355 previously.
Against the British pound, the ringgit strengthened to 6.4311/4383 from 6.4519/4591 last Friday but it was easier against the euro at 5.0899/0958 from 5.0767/0820 previously

FOREX-Dollar near 1-mth high vs euro before US jobs data

2008-08-01T01:07:00.000-07:00

The dollar edged up towards a one-month high against
the euro on Friday before monthly U.S. jobs data later in the day, with
investors viewing the report as a key hurdle for whether the U.S. currency can
sustain its rebound.
A mixed bag of U.S. data released the previous day showing the economy
expanding less than expected in the second quarter, a spike in jobless claims
but a pick-up in Midwest business activity did not prove decisive for the
dollar. [ID:nN31399964]
Investors are still looking for the Federal Reserve to raise interest rates
later in the year, just as mounting signs of economic slowdown from the euro
zone to Australia have started to take a toll on other major currencies.
"The dollar proved surprisingly resilient despite Thursday's downbeat data,"
said Motonari Ogawa, director of forex trading at Barclays Bank.
"No doubt the jobs data will generate a host of opinions, but the market is
likely waiting for a surprise -- whether it be on the upside or downside -- as
the next catalyst," said Ogawa.
In a Reuters poll, economists forecast that companies shed 75,000 workers in
July in what would be the seventh straight month of job losses.
The dollar was little changed from late U.S. trade near 107.77 yen

after hitting a one-month peak of 108.34 yen earlier this week.
Japan Prime Minister Yasuo Fukuda was overhauling his cabinet on Friday in a
bid to shore up his flagging popularity, domestic media reported. But analysts
said the reshuffle of top officials should not have much impact on the yen.
[ID:nT196476]
The euro fell 0.3 percent to $1.5559 ,>
$1.5522 hit earlier this week and well off a record peak of $1.6040 struck last
month. Against the yen, the euro fell 0.3 percent to 167.67 yen .>
Traders said the euro's weakness against the yen, with selling emerging in Asia
following the recent string of weak European data, was weighing on the single
European currency.
"The euro appears to be peaking out. The ECB hiked rates in July and inflation
still remains a threat, but indicators this week did not show euro zone economic
conditions in a positive light," said Takahide Nagasaki, chief forex strategist
at Daiwa Securities SMBC.
Data this week showed euro zone economic sentiment hit its lowest in over five
years in July, pointing to a stagnant economy and boosting expectations that
interest rates will be kept on hold this year with inflation still at a record
high. [ID:nL9244016]
Beyond the jobs data, market players were also keeping a close eye on oil
prices. The greenback recovered from its lows on Thursday as crude oil prices
in nearly four years in July.

RATE CUT SPECULATION HITS AUSSIE
Speculation over near-term interest rate cuts plagued the Australian dollar on
Friday.
Columnist Terry McCrann said the Reserve Bank of Australia would use its
post-meeting statement on Tuesday to set out the case for lower interest rates,
following two hikes earlier in the year that lifted the cash rate to a 12-year
peak of 7.25 percent. [ID:nSYD209018]
The Aussie dropped 0.6 percent to $0.9364 >
seven-week low of $0.9360. Traders said some hedge funds were bailing out of
long positions in the Aussie and kiwi.
The New Zealand dollar fell 0.7 percent to $0.7280, touching a 10-month low of
$0.7272.
The kiwi has taken a hit since the Reserve Bank of New Zealand cut rates by a
quarter point to 8.00 percent last week and RBNZ Governor Alan Bollard signalled
this week that the central bank had "plenty of room" for cutting rates further.
(Editing by Michael Watson)

Forex investors see new president helping dollar

2008-07-30T09:56:00.000-07:00

Currency investors are not particularly enamored with either of the two U.S. presidential candidates but they are more than ready for change after the U.S. dollar's 33.8 percent decline under President George W. Bush.

Bush has presided over the worst drop in the dollar of any U.S. President since the developed world moved to flexible exchange rates in the early 1970's.

And though analysts are not completely blaming Bush for the dollar's slump, they say neither Republican Senator John McCain or Democrat Barack Obama can do any worse.

"One would think that just about anyone would be an economic improvement on one of the most reckless fiscal presidents we've ever elected," said Chip Hanlon, president of Delta Global Advisors, Inc. in Huntington Beach, California.

The New York Board of Trade's dollar index, which measures the dollar against a basket of six currencies, has lost 33.8 percent since Bush first took the oath of office on January 20, 2001. From a peak in July, 2001, the slide is even more dramatic at 39.3 percent.

Based on the dollar's performance, Craig H. Russell, Beijing-based chief market strategist for China at Saxo Bank, says the Bush presidency has been more unpopular than the era of President Richard Nixon, who eventually resigned the White House in disgrace after being implicated in the Watergate scandal.

Nixon closed the so-called gold window on August 15, 1971, effectively ending the dollar's ties to gold prices and the system of fixed exchange rates in place since World War Two.

China launches new forex transfer system

2008-07-27T01:53:00.000-07:00

On Friday, China launched its inter-bank foreign currency payment system to smooth foreign exchange transfers on the Chinese mainland. But the People's Bank of China said the new system is limited to forex transfers for enterprises, and it doesn't cover across-the-board forex transfers.

The multi-currency forex payment system covers eight currencies, including the euro, the Japanese yen, the HK dollar and the US dollar. It will shorten the forex transfer time and increase efficiency.

The central bank said so far, eleven Chinese banks have joined the system. These include the country's big-four state-owned banks, Shanghai Pudong Development Bank and Industrial Bank. It added that more players, including overseas banks, can also take part in the system based on their payment needs.

India's forex reserves at $307.107 bn

2008-07-25T12:09:00.000-07:00

MUMBAI: India's foreign exchange reserves fell to $307.107 billion as on July 18, from $308.520 billion a week earlier, the central bank said in its weekly statistical supplement on Friday. Reserves rose to a record $316.171 billion in late May and analysts say the decline since then is due to dollars given by the central bank to refiners in exchange for their oil bonds and intervention in the currency market to support a falling rupee.
The central bank said foreign currency assets, expressed in dollar terms, included the effect of appreciation or depreciation of other currencies held in its reserves such as the euro, pound sterling and yen.
The foreign exchange reserves include India's Reserve Tranche Position in the International Monetary Fund, the central bank said.

dollar slips amid persistent US bank worries

2008-07-21T10:43:00.000-07:00

1. Dollar falls on continued worries about U.S. financials
2. Sentiment toward dollar remains cautious
3. Investors watching U.S. earnings, oil prices
July 21 - The dollar slipped on Monday, losing some of its recent momentum, after better-than-expected earnings from Bank of America failed to convince investors that the worst for the U.S. financial sector is over.
The greenback had earlier gained against the yen and pared losses against the euro after Bank of America's second-quarter earnings beat a Reuters Estimates forecast, boosting U.S. stocks.

But investors remained wary ahead of a flurry of bank earnings due this week, including Wachovia (WB.N: Quote, Profile, Research) on Tuesday. The market also focused on a rescue plan for U.S. mortgage giants Fannie Mae (FNM.N: Quote, Profile, Research) and Freddie Mac (FRE.N: Quote, Profile, Research).

Inflation inches up to 11.91%, may force RBI to increase rates

2008-07-18T09:50:00.000-07:00

I met RBI Governor Y V Reddy. Governor said there is still pressure on prices. I am in broad agreement with him," Chidambaram told reporters after a Cabinet meeting on Thursday. "So, if these monetary measures take effect, Governor expects some moderation (in inflation) over a period of time," he said.During the week ended 5th July, inflation moved up marginally by 0.02 percent to a 13-year high of 11.91 percent.
In the comparable period last year, the rate of price rise was 4.61 percent.Food items, including pulses, atta, tea, fruits, as also some petroleum products like jet fuel became more expensive during the week under review, according to the wholesale price index released by the government on Thursday.Describing the increase in inflation "very marginal" the Finance Ministry in a statement said "the annual inflation rate for the group of 30 essential commodities has declined to 5.74 from 5.98 percent reported for the week ending June 28, 2008."It further said the prices of essential commodities like food grains, pulses, edible oils, vegetable, dairy products and some other commodities including kerosene, soap and safety matches have more or less stabilised.
The Finance Ministry further said inflation on a week-on-week basis has stabilised.The Ministry said out of 98 primary articles, 13 have shown decline in prices and 57 have shown no increase in prices.
In manufactured category, 281 of total 320 commodities have shown no rise in prices, while prices declined in case of 12 commodities.Marginal increase in inflation is mainly because of higher prices of some of the petroleum products like naphtha which went up by eight percent, light diesel oil by seven percent, aviation turbine fuel by five percent.
However, prices of cooking gas declined by five percent.The continued rise in prices, though marginal, may prompt RBI to further tighten money supply in its quarterly review slated for 29th July, analysts said."To anchor inflation, the RBI may increase CRR by 50 basis points and repo rate by 25 basis points," Crisil Principal Economist D K Joshi told.RBI has already on 24th June increased repo rate (short term lending rate)and CRR (mandatory deposit kept with the RBI) by 0.5 percent each to check price rise.During the week, prices of tea increased by two percent, while masur and moong became expensive by 1 percent eachIn the manufactured goods category, rice bran oil and maida became expensive by two percent each atta, coconut oil and imported edible oil were dearer by one percent each.
Elsewhere, steel ingots became dearer by 21 percent, bright bars by 10 percent, pig iron by 5 percent, bars and rods by 2 percent and steel sheet and plates by 1percent.
As per the revised data inflation rate for the week ended 10th May has been updated to 8.57 percent as against 7.82 percent reported earlier.

Falling rupee creates fresh losses on forex derivatives

2008-07-17T11:06:00.000-07:00

India is staring at fresh losses on foreign exchange derivatives, thanks to the sudden, 7-per cent depreciation of the rupee in the quarter ended June 2008, with much of the fall coming in May.
After HCL Technologies announced last week that it will suffer forex losses of $65-75 million for the quarter ended June 30, 2008, the last two days saw three companies taking a hit on forex derivatives. Thursday Bangalore-based biotech company Biocon saw its net profits decline by 72 per cent for the quarter ended June 2008, thanks to a forex loss of Rs 6 crore and a mark-to-market provision of Rs 26 crore for its exposures to forex derivatives.
Wednesday, IT major Tata Consultancy Services (TCS) reported a forex loss of Rs 75.30 crore for the quarter ended June, which partly resulted in its net profits growing slower at 7 per cent year-on-year to Rs 1291 crore.
The sudden depreciation of the rupee resulted in a provision of $12 million (Rs 51.7 crore) on Mindtree's outstanding derivatives instruments,'' the company said in a statement. The losses are a result of the rupee bets going wrong. When the rupee was appreciating, many exporters rushed to cover and sold their dollar receivables forward. With the rupee depreciating 7 per cent, the exporters face losses on these contracts. "The losses are because of hedges taken earlier. An exporter may have sold his dollars at Rs 40, while the rupee is trading at Rs 43.07. IT companies have long-term contracts, and some have sold their receivables forward to prevent potential losses from an appreciating rupee.

So, exporters sold their receivables forward as they wanted to protect themselves. Exporters had suffered when the rupee appreciated 12 per cent from Rs 44 to Rs 39. When the rupee was appreciating, software companies hedged their receivables, though it varies widely across companies. "People wanted certainty, and have traded it off with future upside that they might have made from the depreciation of rupee,'' said the CFO of an IT firm. Analysts say typically, Infosys hedges three months of receivables, TCS has taken cover for $3-4 billion, amounting to 50-70 per cent of its sales and mid-size IT companies such as Mindtree have covered 50 per cent of their receivables.

UPDATE 1-Japan forex reserves $1.002 trln at end-June

2008-07-07T01:24:00.000-07:00

TOKYO, July 7 (Reuters) - Japan's foreign reserves hit $1.002
trillion at the end of June, logging the first rise in three
months thanks in part to investment returns and the euro's rise
versus the dollar that inflated the value of euro-denominated
bonds in the stockpile, the Ministry of Finance said. [JPRES=ECI]

 Higher gold prices also helped lift Japan's reserves -- the
world's second largest after China's -- back above $1 trillion,
but still shy of the record high of $1.016 trillion at the end of
March, a ministry official said on Monday.

 The euro  edged up to $1.5754 at the end of June from
$1.5559 at the end of May, while the benchmark gold price rose to
$930.25 an ounce at the end of June from $885.75 the month
before.

 The ministry, which is in charge of Japan's currency policy,
does not disclose the currency breakdown of Japan's reserves, but
most is in U.S. dollars as past intervention has taken the form
of dollar buying.

 Japan's foreign reserves ballooned after massive yen-selling
interventions in 2003 and early 2004 as Tokyo tried to stem a
rapid rise in the yen from derailing a fragile economic recovery.

 Tokyo has kept out of the market since then, but the income
on the reserves has crept up steadily.

 The massive reserves have stirred a debate among Japanese
lawmakers about whether Japan should follow countries like China
into launching a sovereign wealth fund to invest some of the cash
pile. But the finance ministry remains cautious about the idea.

 The ministry started operating a new section within its
foreign exchange markets division on Friday that will focus on
managing Japan's massive foreign exchange reserves. [ID:nT343958]

 But ministry officials have said the launch of the new
section does not mean Japan will start investing the stockpile
more actively into risky assets to seek higher returns.

FOREX-Dollar falls amid signs of softening labor market

2008-07-02T12:43:00.000-07:00

Dollar falls on signs of weakness in labor markets

* ADP report shows higher than expected job losses in U.S.

* Markets anticipate ECB rate hike to 4.25 pct

(Recasts, adds comments, changes byline)

By Vivianne Rodrigues

NEW YORK, July 2 (Reuters) - The dollar fell against the euro on Wednesday after a report showed the U.S. private sector shed more jobs than expected in June, which may diminish the likelihood of a rate increase by the Federal Reserve.

In contrast, investors bought the euro ahead of an expected interest rate hike by the European Central Bank on Thursday. The ECB is widely seen raising its key lending rate by 25 basis points to 4.25 percent and President Jean-Claude Trichet's news conference after the meeting may indicate further increases.

Higher benchmark rates in Europe will boost the return of euro-denominated assets and weigh on the greenback.

Dollar marking time ahead of FOMC meeting

2008-06-23T23:55:00.000-07:00

SYDNEY (Thomson Financial) - The U.S. dollar was mixed in midmorning trading in Sydney on Tuesday, marking time ahead of the start of the Federal Open Market Committee's two-day meeting starting later today.
At 10:50 a.m. (0050 GMT) the dollar was at 107.98 yen from 107.83 yen in late New York trade
on Monday while the euro was at $1.5526 from $1.5514.
The dollar gained against the euro overnight on expectations that the FOMC would put inflation higher up its list of worries when it issues a statement after the meeting's conclusion on Wednesday.
No change in the Federal Reserve's fund target rate, now set at 2.0 percent, is expected.
John Noonan, a senior foreign exchange analyst at Thomson Reuters IFR, said trading is likely
to remain whippy ahead of the release of the Fed statement.
'The market is thin and there is a wide divergence of opinion on how the FOMC will shape its statement after they are expected to announce no-change on Wednesday,' said Noonan.
He said the talk on Wall Street was that the Fed was likely to 'talk tough' on inflation to temper wage expectations even if it might not follow up with aggressive tightening efforts.
'There is some speculation that the Fed might even mention the U.S. dollar in their statement and this has helped to underpin the dollar ahead of the event,' said Noonan.
He said until the announcement the euro is expected to trade in a range of $1.5450 to $1.5650.
Sydney 10:50 a.m. (0050 GMT)
U.S. dollar
yen 107.98
Swiss franc 1.0455
Euro
U.S. dollar 1.5526
yen 167.595
Swiss franc 1.6227
pound 0.7902
Pound
U.S. dollar 1.9650
yen 212.091
Swiss franc 2.0536
Australian dollar
U.S. dollar 0.9522
pound 0.4845
yen 102.815
New Zealand dollar
U.S. dollar 0.7571

Forex reserves down $5

2008-06-22T11:56:00.000-07:00

The country’s foreign exchange (forex) reserves dipped by a whopping $4.96 billion in the week ended June 13, the steepest dip in over two-and-a-half years.
Reserve Bank of India (RBI) has done in the forex market by selling dollars in a bid to keep the rupee from breaching the 43-mark against the dollar. Last time such a huge fall in reserves recorded was in December 2005, when there were huge redemption pressures on the central bank on account of the India Millennium Deposits (IMD) scheme of State Bank of India.

RBI has been consistently intervening in the forex market over the past couple of weeks, with the rupee under pressure from oil companies which bought dollars to provide for soaring crude prices.

Meanwhile, credit and deposits continue to record modest growth figures for the year. According to data released by RBI in its weekly statistical supplement (WSS) on Friday, bank credit growth stood at 25.9%.

The total stock of money in the system went up Rs 22,655 crore during the fortnight ended June 6, to touch Rs 40,99,957 crore.

US Dollar fall against the euro pound

2008-06-20T06:04:00.000-07:00

On Friday dollar fell against the euro as new data showed German producer price inflation accelerating and investors awaited speeches by top European Central Bank officials. Euro bought $1.5547 in morning European trading, up from its level of $1.5499 in late New York trading.

Europe's largest economy, showed producer prices a measure of inflation pressures that contribute to rising prices for consumers rising by an annual 6 percent in May as a result of soaring energy costs, under scrutiny for hints on its future interest rate course before a meeting next month at which many expect it to raise rates.

European Central Bank said earlier this month that it could raise interest rates by a small amount as early as its next meeting to combat rising inflation in the 15-nation euro zone.

Strengthen a currency by giving investors higher returns on investments, while lower interest rates can weigh on a currency. (Now pound- $1.9727)

Here is a look at the upcoming week in Forex!

2008-06-10T12:15:00.000-07:00

My range of expertise has extended from cycle analysis to dynamic structure trading of Stocks, Futures and the Forex markets. I have over 11 years of trading experience, and have worked with 100's of active screen and desk traders, floor traders, and prop trading firms. My specialty is in trading E-Mini Futures and the Forex with a system I call the "Dynamic Structure Trading Model." have over 12 years of hard nose experience in day and swing trading.

FOREX-Dollar rattled by banking sector

2008-06-09T12:12:00.000-07:00

The dollar fell broadly on Tuesday, rattled by signs that the U.S. financial sector, and thus probably the economy, is still far from out of the woods. The Wall Street Journal reported on Tuesday that U.S. investment bank Lehman Brothers (LEH.N: Quote, Profile, Research) may raise up to $4 billion in new capital, suggesting the firm could post its first quarterly loss since going public.
The news added to risk aversion stoked during the previous session after Standard & Poor's cut its credit ratings on Lehman, Merrill Lynch, Given the downgrades by S&P yesterday and the WSJ story with regards to Lehman, it's easy to see why risk aversion is rising," said Simon Derrick, head of currency research at Bank of New York Mellon.
In contrast, was benefiting from Eurogroup chairman Jean-Claude Juncker giving his backing to the European Central Bank's hawkish,

Dollar falls as U.S

2008-06-08T02:22:00.000-07:00

The dollar was pushed lower by news of dismal U.S. job creation, with the unemployment rate jumping by its largest amount in 22 years.

5.5 percent from the 5.0 percent reported in April, sharply higher than the 5.1 percent rate expected by economists polled by Thomson Reuters IFR Markets, when it also rose 0.5 percentage points. The economy lost 49,000 jobs in May, a smaller loss than 60,000 decline expected from the payroll survey, but markets focused on the unemployment rate by selling off the greenback.

He said markets were looking for a reason to sell the dollar against the euro, which has been buoyed by hawkish inflation talk from the European Central Bank. Some analysts said the underlying payrolls number is somewhat encouraging, as it shows the loss of jobs may be stabilising somewhat, whereas the unemployment rate is a lagging indicator.

The economy remains very weak and enjoys little forward momentum, meaning the dollar will hardly be rallying strongly any time soon.

FOREX-Dollar cheered by Bernanke comments

2008-06-07T12:11:00.000-07:00

The dollar advanced broadly on Tuesday after Federal Reserve Chairman Ben Bernanke warned about the inflationary impact of a weak currency, suggesting the central bank is not likely to cut interest rates further this year.

In a speech before the International Monetary Conference Central Bankers' Panel in Barcelona, Bernanke said the Fed is carefully monitoring developments in the currency market.

We are attentive to the implications of changes in the value of the dollar for inflation and inflation expectations and will continue to formulate policy to guard against risks to both parts of our dual mandate," he said, referring to the Fed's twins goal of ensuring sustainable growth and low inflation.

China forex reserves

2008-06-05T12:07:00.000-07:00

China’s foreign exchange reserves rose to $1.76 trillion at the end of April, state media reported yesterday, reaching a level higher than the rest of Northeast Asia’s combined. China’s reserves, by far the largest in the world, expanded by another $74.5bn during April, the China Business News reported, equivalent to about $100m every hour.
It is possible that one day China’s forex reserves might even top those of all other Asian countries combined, according to Brian Mak, a Hong Kong-based economist with Core Pacific Yamaichi.
Much of the money represents investment inflows, and the economic conditions are much better in China than other Asian countries such as India,” he said. “It will continue to expand unless the government does something to curb the inflows,” he said.

FOREX-Dollar edges up but recovery looks fragile

2008-06-04T05:18:00.000-07:00

.Dollar gains as US jobless claims fall
.Greenback still fragile as oil prices keep rising
.High inflation, low growth raise US stagflation fears
The dollar rose on Thursday, boosted by better-then-expected jobless claims data, but support remained fragile as record high oil prices stoked worries about the health of the U.S. economy.

The U.S. currency got a modest boost against the euro and yen after data showed Americans filed fewer applications for first-time jobless benefits than expected in the latest week.

That helped it reverse some losses suffered after the Federal Reserve on Wednesday downgraded its 2008 growth forecast, and some analysts said it offered a glimmer of optimism for the overall May employment picture.

"The market may begin to fret less over the May non-farm payrolls report," said Ron Simpson, director of currency research at Action Economics in Tampa, Florida. Continued...

Diary of a Novice Forex Trader

2008-06-03T05:06:00.000-07:00

Last week there were signs of a return to Dollar weakness, but the dip in crude oil prices has given a tentative bid to the greenback.
Not everyone’s cup of tea, but Thatcher had more balls than any of her successors. And this latest bunch of ‘Britain’s got no talent’ try to make a virtue out of U-turns, saying that they’re always ready to listen. For starters that’s not government it’s appeasement. Secondly, this Country hasn’t got the finances for them to keep on ‘listening’. Better to pander to the Sun and cut taxes on gas-guzzlers. The price of diesel at over 120p a litre is shocking and must be hitting hauliers hard. So I was surprised to read of a load of lorry-drivers wasting a tank full on a trip from the South-west up to London, just to block a road.
It was a great display of raw grit and determination; the description of ‘more streetwise’ was a touch harsh, though I reckon Lee Mears couldn’t believe his luck in escaping the sin bin when the touch judge couldn’t identify him.
There’s not a lot of trading to speak of in this shortened Bank Holiday week. I lost a scrap, 25 pips, in real trading whilst making a pretend 75 pips trialling one of my external forex systems. My year to date total slipped to 4956 pips. The Chimp lost a net 100 pips, taking his loss to –1600.

Forex Technical Analysis - RCPL Forex

2008-06-02T05:11:00.000-07:00

Euro: Euro breached the 1.5500 for the first time in 3 weeks as it tested the bids of 1.5485 on the back of increasing unemployment and deteriorating Eurozone consumer confidence. However later regained its losses and closed at 1.5511, the daily and 4-hrly stochastic are in the oversold region showing some buying pressure but upmove will be well contained at 1.5626 (100 & 21 4-hrly EMA & 38.2 % retracement ).(Eur/Usd-1.5537).

Pound:Pound dipped down to a low of 1.9672 on the back of weak housing data but could not deteriorate further as it took the trendline support and later surged up to close stronger at 1.9755. The daily and 4-hrly stochastic are in the neutral region while the hourly is in the overbought region. Its currently facing stiff resistance at 21 4-hrly EMA a break of this level for indicate a further upmove upto 1.9825( 100 daily EMA) which has been holding for the past few trading session. (Gbp/Usd- 1.9784).

Yen: USD/JPY pair surged up by 127 pips to touch an intra day high of 105.87 and closed above the 105 mark at 105.57. A continued sustenance above the 105 (21 weekly EMA &100 daily EMA, trend line support, 50% retracement daily charts) would suggest a bullish bias for the pair and a further upmove upto 107.40 (61.8 % retracement daily charts) could be seen in next few sessions. (Usd/Jpy- 105.29).

Nigerian forex reserves

2008-06-01T05:00:00.000-07:00

Nigerian foreign exchange reserves rose to a record high of $61.96 billion in mid-May from $60.81 billion at the end of April as world oil prices also hit record highs, the central bank said on Wednesday.
Nigeria, the second biggest economy in sub-Saharan Africa, has seen its foreign exchange reserves grow consistently since 2005 due to rising global oil prices.
The latest figure published on the bank's Web site did not state how many months of Nigerian imports the reserves could finance, but the banking regulator has said the March figure of $59.70 billion could support 38 months of import bills.

Forex reserves $2 billion

2008-05-31T04:55:00.000-07:00

Foreign exchange reserves rose $2 billion during the week ended May 23, though the central bank sold dollars during the week to meet importers demand. According to the latest figures released by the Reserve Bank of India in its weekly statistical supplement (WSS), total foreign exchange reserves including gold and special drawing rights (SDR) rose $2,090 million during the week ended May 23.

Almost the entire growth in reserves during the week has been on account of the growth in assets which went up $2,085 million. Reserves with the IMF rose $5 million, though the value of SDRs and gold in reserves remained unchanged during the week.

The central bank reportedly sold dollars during the week to meet oil importers demand. Besides, the dollar also strengthened vis-a-vis major currencies during the week. However, foreign currency assets expressed in dollar terms also includes the effect of appreciation/depreciation of non-dollar currencies (such as euro, sterling, yen) held in reserves.

The $2 billion pile up in reserves has resulted in infusion of rupee funds worth Rs 15,044 crore during the week. Though that helped ease liquidity conditions during the week, it tightened in the subsequent week.

But, the reserve money of which foreign currency assets is a major sources dipped Rs 42,439 crore during the week on account of a Rs 44,176 crore dip in the net RBI credit to the government during the week.

In the other developments, the government did not resort to any ways and means advances (WMA) — temporary overdraft to meet revenue mismatches during the week. States have reduced their reliance on WMA by Rs 215 crore taking the WMA outstanding with the central bank to Rs 303 crore as on May 23.

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Rupee ends

2008-05-26T12:12:00.000-07:00

The Indian rupee ended slightly cheaper at 42.72/73 against the greenback on Monday on month-end dollar demand by oil companies, amid continued weakness in Asian stocks. Local currency fluctuated in a wide range of 42.7950 and 42.53 during the day after resuming weak at 42.7900/7950 a dollar from its last close of 42.71/72 a dollar. Dealers said the rupee attempted a smart rally and touched the day's high of 42.53 in early trade due to heavy dollar selling by foreign banks. Global crude oil was trading above 133 dollars a barrel in Asian trade on Monday, Asian stocks were under tremendous pressure and stayed weak for the last few days on fears that high inflation rate and weakness in the US economy.
Sensex lost 301 points to touch the six-week low of 16,348.50 points Meanwhile, the Reserve Bank fixed the reference rate for US dollar at Rs 42.56 and that for single European unit at Rs 67.08.

Burden on forex exchange

2008-05-23T13:31:00.000-07:00

The government would have to spend at least one billion dollar on the import of wheat, as the prices in international market have touched $400 per metric tonnes, the industry stakeholders told Daily Times on Tuesday. The government announced on Monday to import 2.5 million tonnes of wheat to build strategic reserves for two years. The price of wheat in international market also increased after the announcement of import by Pakistan. Earlier the price was roaming at $380 but as soon the wheat import was announced the rate in international market swell to $400 per metric tonnes, said a trader, Sharif Hussain.
If the tender are floated then there would be a speculation in international market and price would ultimately increase and definitely touch $450. Ukraine and Russian wheat would come into market by July and shipments would be made in August,” he said.
FOB price of wheat is around $320 to $340 while CFI (Cost Insurance Freight) price is $400-425, as freight also increased rapidly because of an increase in petroleum prices in the international market.

Dollar softer in afternoon

2008-05-21T05:34:00.000-07:00

The U.S. dollar was trading slightly weaker in narrow ranges versus the euro and the yen in afternoon Asian trade on Wednesday ahead of the release of the minutes from last month's Federal Open Market Committee meeting that may highlight worries about growth and inflation in the United States. 'The general tone of the April FOMC minutes is likely to underscore the still sluggish growth environment, elevated inflation uncertainties and the tentative improvements in financial markets through the end of April.
April 29 to 30 FOMC meeting will be released tonight in Washington.
Last month, the FOMC slashed its key rate by 25 basis points, the smallest reduction this year, to 2 percent and hinted at plans to maintain it at this level for a while.

Forex Dollar Dip

2008-05-14T12:36:00.000-07:00

Dollar slips versus euro in response to tame CPI

The dollar erased its earlier gains on Wednesday in a knee-jerk reaction to a report showing U.S. consumer prices rose at an unexpectedly slower pace in April. Analysts said news that consumer prices rose by 0.2 percent in April, less than the 0.3 percent gain Wall Street analysts expected, did not change market perceptions that the Federal Reserve's interest rate cutting-campaign was almost over. The consumer price index rose 0.3 percent in March.
Rate implications are dollar negative, and that is the way the market has traded off this number," said Alan Raskin, chief international strategist at RBS Greenwich Capital in Greenwich, Connecticut.

Dr Akhtar: $3.5bn inflows

2008-05-10T13:17:00.000-07:00

In Pakistan Foreign exchange inflows to the tune of $3 billion to $3.5 billion are expected to come in the banking system in the short to medium-term, said Dr Shamshad Akhtar, governor State Bank of Pakistan here Friday.
During a meeting with heads of commercial banks at the SBP head office, Dr Akhtar assured the participants that there would be ‘no reversal’ of foreign exchange liberalisation measures seen in the past years.
However, she expressed her concerns over excessive volatility and weakened Exchange Rate and commented that the recent behavior of the exchange market “is totally out of line.”
There is a strong recognition that macro-economic imbalances have to be resurrected and this is the corner stone of Government’s economic policy,
Dr Akhtar informed the meeting that the government has taken steps to mobilise foreign funds and added that some of the inflows which are expected to realize soon include $2.1 billion from Multilateral Banks, $500 million from friendly countries, $200 million for earthquake relief, $100 million from DFID, $700 million from MCB Bank’s stake sale, $100 million from Barclays Bank and the rest through private sector GDRs and other regular sources.

Dollor Range Bound

2008-05-03T00:06:00.000-07:00

In London: - The dollar was trading in a range against most currencies as investors look to the upcoming payrolls data for more direction and a better sense of how hard the U.S. labour market is being hit by the credit crunch
The market is forecasting a 75,000 loss in jobs in April after March's 80,000 fall, although ADP's forecast for a 10,000 increase will have caused expectations to improve.

forex dollor rises

2008-04-24T12:25:00.000-07:00

The dollar rose broadly on Thursday after government data showed better-than-expected readings on weekly jobless claims and last month's durable goods, indicating that the U.S. economy may be stabilizing. The U.S. data is pretty clearly dollar positive and we're coming off some weaker European data today already," said Brian Dolan, head of research at consultancy Forex.com, in Bedminster, New Jersey. In morning trading in New York, the euro was 1.2 percent lower at $1.5701 , nearly 3 cents below Tuesday's record highs.

Forex

2008-04-16T11:44:00.000-07:00

The pound was hurt by a report from Hometrack Ltd which showed that home prices in England and Wales were down 0.2 percent in March, to an average of £174,100, for a sixth consecutive month of declines. The pound dropped by 8.2 percent versus the euro in the first quarter, its largest-ever quarterly decline versus the shared currency, while the dollar fell 8.4 percent versus the euro in the quarter. At just past 11 a.m. in New York, the dollar traded at $1.5842 to the euro and the pound was at 79.69p to the euro after touching a low of 79.73p earlier.

Despite the decline, the rand was up on the greenback after it was reported that South Africa’s trade deficit was down to R5.8 billion in February from R10.2 billion in January and after gold and platinum prices gained on the session.

The rand traded at R8.1265 to the dollar in late morning trade in New York.

FXCM Has launched two forex managed account with $1000 Minimum Deposit

2008-04-11T05:12:00.000-07:00

the Short-Term Opportunity Program and the Short-Term Opportunity Aggressive Program.Both Short-Term Opportunity Programs utilize 4 different trading approaches:
1.Short-Term range trading
2.Short-Term breakout opportunities
3.Long-Term trends
4.Long-Term carry trading
The majority of the trades generated by these programs have short-term time horizons, while longer-term systems are used to stabilize the short-term volatility. But with higher leverage. Performance should move in tandem with the Short-Term Opportunity Program, with higher gains and losses on a percentage basis.
Short-Term Opportunity Programs were designed to have low correlation with the Sentiment Programs. Short-Term and Sentiment Programs won't necessarily move against each other, but should be independent. Investors are able to diversify their portfolios by investing in both programs.
It is more valuable to have smaller amounts among various accounts than to have a larger amount in only one. As market conditions change, various accounts will come into and out of profitability.

kitty forex

2008-04-06T07:09:00.000-07:00

India’s foreign exchange reserves increased by $4.50 billion to $309.16 billion for the week ended March 28. The forex reserves had dipped by $1.8 billion a week before to $304.65 billion. Foreign currency assets increased by $4.49 billion to $299.14 billion, against $294.64 billion in the week-ago period. India’s reserve position in the international monetary fund increased by $5 million to $437 million. During the period, gold reserves remained static at $9.55 billion while the special drawing rights increased to $19 million.
The two countries signed a memorandum of understanding that will also allow Indian companies to work with Turkmenistan firms on several projects that are being planned in the Asian state.

Spending Forex on higher education

2008-04-04T05:18:00.000-07:00

Our students going abroad for higher studies involve the loss of valuable foreign exchange. How could a poor country like ours afford to lose its vital assets for purposes like educating the children of rich families?” All the students in the audience had been highly taken by this declaration, because at the university, there is normally an anti-foreign degree feeling. What the academic said was, therefore, sweet music to their ears.In fact, what they wanted was my endorsement of this view.
When I asked them whether they also hold this view, all of them answered with a single ‘yes’.

“Why do you say so?” I asked them. One student summarized the general opinion on the issue. “The future of our country depends on our having enough foreign exchange resources. We earn them with much hardship. Our exporters work hard. Our expatriate workers work hard. So, what’s been earned in the hard way should be protected. We shouldn’t permit anyone to squander these valuable national assets.”

I said, adding: “But, remember whoever who has sold that forex to a bank has already been paid in rupees. It doesn’t matter whether it’s an exporter or a housemaid or a doctor or a professor or a journalist. They’re all properly paid for the forex they’ve parted with. So, that forex does not belong to them. But, to whom does that forex belong?”The bank has bought it to earn an income. So, it should make money out of it,” the same girl answered. The other students also nodded their heads in agreement.

“You’re correct. But, how should the bank put that forex to earn money?” I asked them. They did not have an answer to that question. So, I had to explain; “The bank could lend it to somebody in the country. Then, the borrower has all the right to use it in whatever the way he wishes. Or else, the bank can lend it to someone outside the country. Then, it goes out, but the foreigner has the right to use it. Or the bank could sell it to an importer or a pilgrim to India or Mecca at a higher price. Then, that buyer has the right to use it, because he has paid for it. If it’s a private asset, then, how could you say that it’s a national asset?”

bank Of Amrica Give $20 milloin dollor to countrywide exec bank

2008-04-02T10:39:00.000-07:00

Bank of America Corp said it has agreed to pay $28 million to Countrywide Financial Corp Chief Operating Officer David Sambol to induce him to run the merged companies' consumer mortgage operations.Sambol, who is also Countrywide's president, was named in January to run the mortgage business after Charlotte, North Carolina-based Bank of America completes its purchase of the largest U.S. mortgage lender. That transaction was valued Thursday at about $4.1 billion.
According to the filing, Sambol would be entitled to a $20 million retention bonus payable in equal installments on the first and second anniversaries of the merger, which is expected to close in the third quarter.would also receive $8 million of restricted stock, vesting in three installments on the first, second and third anniversaries of the merger, the filing shows.
Awards replace cash severance payments to which Sambol would be entitled at Calabasas, California-based Countrywide, according to the filing.
Sambol would also be entitled at Bank of America to a $500,000 annual base salary, an annual incentive award targeted at $4 million, and an annual equity award targeted at 150,000 Bank of America options.
Bank of America was not immediately available for comment.
The U.S. Federal Reserve plans to hold public hearings on April 22 in Chicago and on April 28 and 29 in Los Angeles on the Countrywide takeover. The combined company would make about one in four U.S. home loans.
Some consumer groups have criticized Bank of America for not doing more to help troubled borrowers. Consumer groups, borrowers, lawyers and politicians have faulted Countrywide for lending excesses they say fueled the nation's housing crisis.Bank of America agreed to issue 0.1822 of a share for each Countrywide share. The merger values Countrywide at about $7.04 per share, based on Bank of America's Thursday closing price of $38.64. Countrywide shares closed Thursday at $5.88

open higher againet US.Dollor In Forex

2008-03-30T22:52:00.000-07:00

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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ECB Current account

2008-03-28T09:34:00.000-07:00

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.Wednesday'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.

Skyrockets Trichet Intensifies

2008-03-26T06:54:00.000-07:00

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.

Pound Generally

2008-03-22T06:03:00.000-07:00

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.

Dollar under pressure on rate cut

2008-03-20T11:43:00.000-07:00

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.

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

2008-03-18T12:40:00.000-07:00

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.

Today Forex News

2008-03-16T22:57:00.000-07:00

This 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 ..

Stop discipline in forex

2008-03-15T11:40:00.000-07:00

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.

Forex won't hurt overall eurozone growth-Juncker

2008-03-13T10:53:00.000-07:00

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

2008-03-13T10:46:00.000-07:00

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 .

Forex Traders Apprentice to Like Losses

2008-03-09T14:22:00.001-07:00

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

2008-03-09T14:21:00.001-07:00

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.

mini forex trad

2008-03-04T10:39:00.000-08:00

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

2008-03-04T10:38:00.000-08:00

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

Forex Daliy Overview

2008-03-03T05:33:00.000-08:00

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.

Forex -Dollar gets a boost from us oil company

2008-01-02T05:02:00.000-08:00

The dollar staged a comeback in afternoon trade, finding a boost from easing oil prices and stronger-than-expected U.S. data. The drop in oil prices still leaves the commodity at hugely inflated levels but takes the edge off the market's worst fears.
After setting records above $135 last week oil has eased off slightly, dropping under $130 as the chorus of voices complaining about its debilitating effects grew louder. Throughout Europe, demonstrations over the high price of oil are putting governments under pressure, leading French President Nicolas Sarkozy to call for the suspension of Europe's value-added tax on oil.

U.S. durable goods orders fell in April, but core capital goods orders showed unexpected strength with the best performance in a year and a half.

Still, he believes the near-term outlook for the dollar remains mixed. 'Falling oil prices may not necessarily lead to a stronger dollar, and any resumption of WTI (the benchmark crude traded in New York) upside would again stoke inflation fears, pressuring the dollar,' he added.

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2007-12-28T12:25:00.000-08:00

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Contact Information

2007-11-30T12:00:00.000-08:00

Company Name- Forex Trading House

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Contact:- 919818572618, 919810141066

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Prakash Dhawan

2007-10-12T04:49:00.000-07:00

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