Forex Update

The European Economic and Monetary Union (EMU) Euro Currency Unit

2009-09-02T07:43:00.000-07:00

On January 1, 1999, eleven of the countries in the European Economic and Monetary Union (EMU) decided to give up their own currencies and adopt the Euro (EUR) currency: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. The Vatican City also participated in that changeover. Greece followed suit on January 1, 2001, Slovenia on January 1 2007, Malta and Cyprus on January 1, 2008, and Slovakia on January 1, 2009.

It is worth noting that any place that previously used one or more of the currencies listed below has now also adopted the Euro. This applies to the Principality of Andorra, the Principality of Monaco, and the Republic of San Marino. This of course applies automatically to any territories, departments, possessions, or collectivities of Euro-zone countries, such as the Azores, Balearic Islands, the Canary Islands, Europa Island, French Guiana, Guadeloupe, Juan de Nova, the Madeira Islands, Martinique, Mayotte, Reunion, Saint-Martin, Saint Pierre and Miquelon, to name just a few.

Euro bank notes and coins began circulating in the above countries on January 1, 2002. At that time, all transactions in those countries were valued in Euro, and the "old" notes and coins of these countries were gradually withdrawn from circulation. The precise dates that each "old" currency ceased being legal tender are noted in the table below.

For convenience, and because their values are now irrevocably set against the Euro as listed above, the XE.com Universal Currency Converter will continue to support these units even after their withdrawal from circulation. In addition, most outgoing Euro currencies will still be physically convertible at special locations for a period of several years. For details, refer to the official Euro site as listed in the Relevant Links section below.

A note about spelling and capitalization: the official spelling of the EUR currency unit in the English language is "euro", with a lower case "e". However, the overwhelmingly prevailing industry practise to spell it "Euro", with a capital "E". Since other currency names are capitalized in general use, doing so helps differentiate the noun "Euro", meaning EUR currency, from the more general adjective "euro", meaning anything even remotely having to do with Europe. This is particularly pervasive in marketing and advertising, where it is common to read statements like, "Try new Goop™ hair gel with genuine euro style and hold!" Nevertheless, this linguistic nuance is very subtle, even for native English speakers. it is also important to note that many languages have different official spellings of the name or EUR unit, which also may or may not coincide with general use.

For more information on the EUR, we encourage you to visit the Websites listed below, particularly the official one. These sites include recent news on the Euro as well as issues like implementation, spelling, legislation, and many more.

Daily Forex Analysis – Pounds To Dollars 1st September 2009

2009-09-02T07:34:00.000-07:00

Forex Technical Analysis

It is hard to see how the pounds to dollars pair is going to recover from the technically bearish position in the short term, with all three moving averages now pressing heavily on Sterling , and coupled with the strong support which has now effectively been breached in the last few days, any recovery higher will require a sustained effort and a large dose of US dollar weakness. Yesterday’s candle ended the forex trading session as a small doji, with the low of the day finding some support in the 1.62 price region, in much the same way as towards the end of last week, suggesting that the forex market is trying to rebase at this level. However as outlined above any attempt to move higher will need to breach all three moving averages as well as break and hold above the deep consolidation area, both of which seem unlikely at present. More likely is a re-test of the 1.60 price handle in the short to medium term, which may provide a stronger platform for any reversal higher once again. However, should this level be breached then a deeper move to 1.55 or below would be a possibility in the medium term.

Fundamental Forex Analysis

As we start a new month of fundamental news for Cable, the key data this morning will be the Manufacturing PMI number which is forecast to remain above the ‘50′ level, at 51.5 against a previous of 50.8, suggesting once again that we are seeing an industry in expansion rather than one in contraction. As a leading indicator it is one that the forex markets will watch closely, and indeed this picture is likely to replicated later in the US where we have the equivalent data in the afternoon for the US economy, which also shows a similar picture. The other main item of fundamental news in the UK are the Mortgage Approvals, which are expected to show a very small increase once again. All the other items of news are covered in more detail on the euro vs dollar site or on the economic calendar by following the appropriate link.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links. I have also included details on an excellent ECN broker.

Dollar Makes a Critical Bearish Break but Risk Appetite Provides Little Follow Through

2009-08-25T07:53:00.000-07:00

• Sentiment-based Momentum Giving Way to Judicious Fundamentals
• Monetary Policy Efforts Reveals a Building Divergence in Growth and Inflation Forecasts
The sharp rally that opened this week seemed to confirm that the next wave of a five-month bull trend was underway. However, this optimistic outlook was immediately deflated when momentum failed support the transition. What is the source of this hesitation? Fundamentals. Risk appetite and broad economic growth are two separate conditions. Generally, the former follows the latter; but when speculation is involved, inconsistencies often arise. Tracking sentiment since the beginning of the year, we have seen a clear evolution from a market that was attempting to establish stability after a financial crisis to one that was expanding as idle capital returned and yield forecasts rose. At this point, the reversal is unmistakable; but then again, this does not mean it is permanent. The more traditional asset classes have cleared their highs for the year; but the drive behind this rally has certainly eased. Equities, represented by the Dow Jones Industrial Average, have stalled over the past three days. In a similar fashion, the speculative-receptive commodities market has pulled back from its own highs without a clear level of resistance overhead. Alone, these asset classes would suggest risk appetite is health, just taking a breather. However, in the currency market, the conflict is more obvious. Looking beyond the 10-month high for the carry index itself, we have seen the US-dollar based majors stall immediately after mark-wide break against the greenback. And, ensuring that this is not just the dollar break from sentiment, the yen crosses have themselves yielded ceded to resistance.

Looking at the market’s as a whole, we are left to believe that a recovery is well under way. However, the developing trend behind investments is as assured as the revival of growth – that is to say, it is still highly uncertain. It is important to separate the influences of sentiment from the true foundation of economic expansion. Clearly, data over the past half year has supported the notion that the worst of the global recession is likely past and perhaps that positive growth is on the horizon. Coming from a record-breaking recession and ongoing financial crisis, this turn would naturally bolster confidence. A sense of stability is certainly enough to draw sidelined capital back into market-based assets (and thereby inflate their values); but to promote a true bull wave, turnover has to be catalyzed by the promise of rising returns and tangible growth has to produce wealth. The global economy has not yet graduated to this phase. Growth readings to this point have merely reported a moderation in the pace of the ongoing recession. Officials from many of the world’s largest economies see expansion at or after the turn of the year. Yet, even if this milestone is reached, growth from that point is forecasted to stagnate. To this point, government spending and stimulus has been the primary engine for improvement. Policy makers may be able to keep this scaffolding in place long enough for lending to fully thaw and business investment to revive; but the consumer is the key in this equation. Now the question becomes whether those countries with positive growth (China, Australia) will fold under the pressure.
isk Appetite Provides Little Follow Through

FOREXTOTALNEWS: Dollar falls against major currencies

2009-08-25T01:57:00.000-07:00

Starting with Wednesday evening GMT, the global risk appetites returned, making many of the market traders’ start selling off dollars, therefore weakening it against many other major currencies, besides the yen.

The information reveled by the Federal Reserve regarding its policy statement didn’t help the dollar gain much and only saved it from falling lower.

Later on Wednesday, the euro reached its two week highs against the dollar, going up to the level of $1.3300, and 129.10 against the yen. The dollar also gained stronger positions against the yen, reaching Y97.42.

FOREXTOTALNEWS: Though flu concerns remain, Euro is up against Dollar, Yen

2009-08-25T01:56:00.001-07:00

On Wednesday Asian market Euro is raising both against the dollar and the yen, as officials made hints that low interest rates may soon end in the European zone.

And though the euro is usually sold out, when finance markets are under stress, this time it stood in recent ranges because of the still remaining flu concerns. The recent reports show more cases of suspected swine flu in both New Zealand and South Korea.

Benefits of a Structured Settlement

2009-08-20T00:48:00.002-07:00

One significant advantage of a structured settlement is tax avoidance. With appropriate set-up, a structured settlement may significantly reduce the plaintiff's tax obligations as a result of the settlement, and may in some cases be tax-free.

A structured settlement can protect a plaintiff from having settlement funds dissipated, when they are necessary to pay for future care or needs. Sometimes a structured settlement can help protect a plaintiff from himself - some people simply aren't good with money, or can't say no to relatives who want to "share the wealth", and even a large settlement can be rapidly exhausted. Minors may benefit from a structured settlement as well, such as a settlement which provides for certain costs during their youth, an additional disbursement to pay for college or other educational expenses, and then one or more disbursements in adulthood. An injured person who has long-term special needs may benefit from having periodic lump sums with which to purchase medical equipment or modified vehicles.

In some situations, it will be better for a severely disabled plaintiff to set up a special needs trust, rather than entering into a lump sum or structured settlement. Any plaintiff who is receiving, or expects to receive, Medicaid or other public assistance, or the guardian or conservator entering into a settlement on behalf of a disabled ward, should consult with a disabilities financial planner about their situation before choosing any particular settlement option or structure

What Is a Structured Settlement?

2009-08-20T00:48:00.001-07:00

Sometimes when a plaintiff settles a case for a large sum of money, the defendant, the plaintiff's attorney, or a financial planner consulted in association with the settlement, will propose paying the settlement in installments over time rather than in a single lump sum. When a settlement is paid in this manner it is called a "structured settlement". Often the structured settlement will be created through the purchase of one or more annuities, which guarantee the future payments.

A structured settlement can provide for payment in pretty much any schedule the parties choose. For example, the settlement may be paid in annual installments over a number of years, or it may be paid in periodic lump sums every few years.

How to Purchase Structured Settlements

2009-08-20T00:44:00.000-07:00

State and federal law may restrict the sale of structured settlements, and there are many legal complications that can arise. Since you'll be exchanging cash for the right to receive future payments, you'll want to make sure that you are protected.

Work with an established broker.
Look for a structured settlement financing company who is a member of the National Structured Settlements Trade Association who also places settlements with private investors.
Get multiple quotes to ensure you get the best deal.
Retain an attorney to review the agreement to ensure your interests are protected.

Forex Blog: Chart Analysis GBPJPY

2009-08-16T11:31:00.000-07:00

The Pound has been a weak performer over the last couple of days as we forex traders discussed. This is a result of the BOE's surprise last week coupled with general risk aversion in the markets. However this rationale is outweighing the steady flow of better than expected numbers - the latest being the RICS House Price Balance showing a -8% reading. Are we to expect that there is sustainable UK housing appreciation? Hardly. If the US Federal Open Market Committee helps to set off a further round of treasury buying as they have in the past few auctions, then the JPY will continue to be the star performer here in the near term and we can expect downside momentum in GBP/JPY, which recently saw its attempt above the previous 162.50 area high firmly rejected.

Dollar falls before US jobs data

2009-08-09T11:45:00.000-07:00

he dollar fell against the euro and yen on Friday as investors awaited a key US employment report amid tentative signs of a recovery in the world's largest economy.

In late morning trading here, the European single currency rose to 1.4361 dollars from 1.4347 dollars in New York late on Thursday.

Against the Japanese currency, the dollar dropped to 95.41 yen from 95.44 yen late Thursday.

All eyes were on Friday's non-farm payrolls data in the United States amid mounting hopes that the pace of job losses there was slowing.

"Optimism is growing that the (US) economy has hit bottom and that it has exited the worst of the downturn. The market is out of its phase of utter hopelessness," said Hachijuni Bank foreign exchange strategist Masatsugu Miyata.

But he noted that the picture was not entirely rosy, with consumer spending and retail sales still sluggish.

The euro edged up following a fall on Thursday after the European Central Bank left its key interest rate unchanged at a record low 1.0 percent.

Dealers noted that ECB president Jean-Claude Trichet voiced confidence about the prospects for an economic recovery but also warned that the outlook remained uncertain.

Good or bad for the Forex? I have no Idea

2009-08-07T01:58:00.000-07:00

Continuing my thoughts from yesterday, on Wednesday the US reported a third straight month of Factory Order increase, a sign that things are picking up in the manufacturing sector.

The report was met with mixed results as the Dollar fell and stocks ended slightly off, an unusual occurrence as normally when stocks are down the Dollar is up as Forex Traders usually seek a safe haven respite.

I was watching Fox Business Network and they had an economist on who was analyzing the data and came up with similar conclusions to what I had said yesterday, simply, the reports that are coming out are not reflective of “the whole picture”. So this is the story behind the factory orders data:

About three weeks ago, the US announced a program called “cash for clunkers” which gives people $4,500 for their junk cars towards the purchase of a new car with more than a minimum of 17 Miles Per Gallon.

This program is supposed to encourage “green” purchases to help lower overall carbon monoxide gases, as well as a boost to the ailing auto industry enabling them to see out their old 2008 models to allow for increased production of 2009 models.

The program was launched in “test” areas about two months ago, and was met with wild success and went national two weeks ago. It has been so popular in the two weeks since, that Congress is approving another 2 Billion Dollars towards extending it.

So the result of this is you have people who cannot afford a new car, people who never would have thought of buying a new car, now buying new cars to the rate of about 450,000 new cars in the past two weeks.

And they are doing it for the most part, with their own present and future tax dollars. To me this is not stimulus but rather stupid.

The US government will be in a 13 Trillion Dollar hole next year – 1 Trillion less than the 2007 GDP of the country. They owe China 3 Trillion, Russia 1 Trillion and are poised to pass legislation on healthcare that will send them even further in the red.

Rising oil prices have them Dancing Down Under

2009-08-05T04:34:00.000-07:00

The Dollar has fallen to a year low against almost every major currency, given the problems that the US is facing, it is understandable - but the stock market gains are what is puzzling to me.

Forex Investors and traders are pumping up the markets because historically, when people have a sense of security they tend to abandon the the USD and the Yen and test their luck with stocks.
The US Economy is still in freefall. The fact that Tim Geithner, the US Treasury Secretary, has now began telling news outlets that the biggest challenges lay ahead with the enormous deficit is a big warning sign of that.

Broker trading companies investing and trading in the markets have begun to recognize this as the Dollar has matched the economy. The market seems to have reversed from a psychological one to a fundamental one and this is good.

I still believe that the real money to be made lies with Australia and New Zealand. The risk is less because of the low value of their currency in comparison with the big four, Yen, Euro, Pound and US Dollar, and the yields can be higher.

The Aussie and Kiwi have been doing very well as of late, and the Australian honesty we saw last week has seemingly driven much confidence in the competence of the leadership there.

Oil is rising and with it other commodities that rely on the slippery black stuff to help extract it - the $71 per barrel that oil is now is very good for both down under dollars.
Keep an eye out this week for the unemployment numbers from the US and the British GDP figures. They will go a long way to showing us how to move in the coming days.

Currency Trading Summary 4th August 04 Aug, 2009

2009-08-04T10:58:00.000-07:00

U.S. Dollar Trading (USD) the positive sentiment remained from Friday in Asia hurting the USD which was sold against nearly all everything except the Yen. Oil continued higher and the risk appetite hit new highs with the S& P breaking the key 1000 level. Helping sentiment was the July ISM Manufacturing ISM at 48.9 vs. 44.8 previously. Crude Oil Closed up $2.13 at $71.58. In US share markets, S&P ended +15 points (1.53%) at 1002, NASDAQ ended + points (0.84%) at 1978 and DOW JONES ended +17 points (0.2%) at 9171. Looking ahead, June Core PCE forecast at 0.2% vs. 0.1% previously.

The Euro (EUR) continued to charge onwards breaking past resistance at 1.4339 and rocketing to 1.44 before stabilizing and closing above the level. German Retail Sales surprised -1.4% in June but the stock market action kept the pair well supported. EUR/JPY traded to new year highs above 137 Yen. O verall the EUR/USD traded with a low of 1.4205 and a high of 1.4447 before closing at 1.4405. Looking ahead, June PPI forecast at 0.2% vs. -0.2% previously.

The Japanese Yen (JPY) weakened everywhere as the USD/JPY continued bouncing up the June trend line and broke back above 95. AUD/JPY broke above 80 Yen and is a good gauge of the risk appetite of the market currently. EUR/JPY and GBP/JPY also traded at year highs. O verall the USDJPY traded with a low of 94.57 and a high of 95.45 before closing the day around 95.20 in the New York session.

The Sterling (GBP) was buoyed by the 16 month high UK PMI reading of 50.8 above 50 and a significant improvement from 47.4 previously. EUR/GBP broke below 0.8500 on the good news and then Cable already above 1.68 seized on the US data to break 1.69 and close in on the 1.700 bull target. O verall the GBP/USD traded with a low of 1.6694 and a high of 1.6990 before closing the day at 1.6975 in the New York session.

The Australian Dollar (AUD) continued its relentless track upwards breaking above 0.8400 and 80 Yen. The Pair found resistance on RBA rumors and profit taking ahead of the RBA and Retail sales data today. The Market is decidedly bullish on the pair but the trade is getting very crowded. O verall the AUD/USD traded with a low of 0.8349 and a high of 0.8448 before closing the US session at 0.8420. Looking ahead, RBA meeting today expected to remain at 3.0% with an important statement accompanying. UPDATE June Retail Sales -1.4% m/m vs. 0.6% forecast m/m and 2.0% vs. 1.3% forecast Q2.
Gold (XAU) was not affected much by the USD moves with safe haven flows exiting the trade and inflation not viewed as an immediate issue. Overall trading with a low of USD$952 and high of USD$962 before ending the New York session at USD$956 an ounce.

Oil Climbs Above $70 as Manufacturing Spurs Hopes for Recovery

2009-08-03T05:21:00.000-07:00

Crude oil traded above $70 a barrel for the first time in a month on signs that industrial activity is picking up, possibly triggering a recovery in fuel demand.

Oil gained as factory output in China rose to its highest in almost a year, while a U.S. manufacturing index due today may show conditions in July were the best in almost a year. Oil may gain more than other commodities on a rebound in demand, said Nouriel Roubini, the New York University economist who predicted the financial crisis.

“Over the short-term, it seems that the path of least resistance is higher,” said Edward Meir, an analyst with MF Global Ltd. in Connecticut. “Investors are apparently still enthralled by the recovery trade, murky as its final outcome seems to be at this stage.”

Crude oil for September delivery rose as much as $1.50, or 2.2 percent, to $70.95 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It traded at $70.60 a barrel at 9:13 a.m. in London. Crude reached $71.85 a barrel on July 1.

The Organization of Petroleum Exporting Countries increased oil output for a fourth month in July, with quota compliance slipping as some members took advantage of strong prices, a Bloomberg News survey showed.

Oil output averaged 28.39 million barrels a day last month, up 45,000 from June, according to the survey of oil companies, producers and analysts. The 11 OPEC members with quotas, all except Iraq, pumped 26.035 million barrels a day, 1.19 million more than their target.

U.S. Manufacturing

The Institute for Supply Management may report today its U.S. manufacturing index climbed to 46.5 in July, the highest level in almost year, according to a Bloomberg survey of economists. Readings below 50 signal contraction.

“The implication is that there’s going to be a pretty solid demand recovery later this year,” said Toby Hassall, a research analyst at Commodity Warrants Australia Pty in Sydney. “It’s definitely sentiment-driven at the moment rather than fundamentally driven.”

China’s official Purchasing Managers’ Index rose for a fifth month to a seasonally adjusted 53.3 in July from 53.2 in June, the Federation of Logistics and Purchasing said Aug. 1. A survey today by CLSA Asia-Pacific markets showed manufacturing rose to a one-year high as stimulus spending stoked domestic demand. China accounts for about 45 percent of Asia’s oil use.

Brent crude oil for September settlement gained as much as $1.18, or 1.7 percent, to $72.88 a barrel on London’s ICE Futures Europe exchange. It traded at $72.83 a barrel at 9:13 a.m. London time.

Hedge-fund managers and other large speculators increased their bets on oil prices to rise, according to weekly data from the U.S. Commodity Futures Trading Commission. Net long positions in New York oil futures, or the difference between orders to buy and sell oil, doubled to 4,576 contracts in the week to July 28.

USD/JPY Weekly Outlook

2009-08-02T11:45:00.001-07:00

Despite edging higher to 95.87 last week, USD/JPY failed to sustain gain there and retreated sharply on Friday. Initial outlook is neutral this week with focus on 94.01 support. As long as this support holds, rise from 91.73 is still in favor to continue and above 95.87 will target falling channel resistance at 96.61. However, break of 94.01 support will suggest that choppy recovery from 91.73 has completed and will flip bias to the downside for retesting this low first.

In the bigger picture, the stronger then expected rebound from 91.73 suggests that a short term bottom is at least in place and mixed up the outlook of USD/JPY. The three wave structure of the fall from 101.43 to 91.73 and the channeling property do argue that it's corrective in nature. But there won't be any confirmation of completion of such fall until a break of 98.87 resistance. On the other hand, it's still possible that decline from 101.43 is resuming whole down trend from 124.13. Hence while we'll favor upside as long as 93.01 support holds, we'll stay neutral until at least a break of the upper channel resistance at 96.96. Meanwhile, completion of rebound from 91.73 on failure to break through the channel resistance will in turn argue that whole fall from 101.43 is still in progress for at least another low below 91.73.

Forex Trading Forecast: U.S. Dollar to Head Lower

2009-08-01T04:30:00.000-07:00

The U.S. dollar was barely moved one way or the other by recent unemployment data. This is hardly surprising, since the news most people have been waiting for is the GDP report from Quarter 2.

After the report was released, the numbers showed that the U.S. economy shrank by 1% in the second quarter of 2009. While that still shows that the economy has been shrinking, the fact remains that the shrinkage is much lower than expected. And that is what is likely to affect the forex trading forecast for the U.S. dollar.

The indications are that the U.S. economy is slowly moving out of its recession. The latest news rekindles optimism that the economy will be out of the recession by the end of the year so that it can focus on economic recovery. As this happens, sterling and euro are expected to gain the upper hand as the greenback is no longer needed as a safe haven in currency trading.

Canton Rotary Club gears up for foreign exchange student

2009-07-31T10:45:00.000-07:00

In a skit at Wednesday’s meeting of Canton Rotary Club, a Yugoslavian Youth Exchange Student told about her first experiences in the USA. Local Rotarian Diana Tucker played the role of Sasha Pavletich, a 16-year-old exchange student from Yugoslavia, who had arrived at the Peoria airport just a day prior to coming to greet the Canton Rotary Club. Robert Ritschel played the role of Leo Tonetti and Kathy Taber the role of Leoett Tonetti, host parents to Pavletich.

Rotary International was founded in 1905 in Chicago, and is the world’s oldest service club. The object of Rotary is to encourage and foster the ideal of service as a basis of worthy enterprise, and to encourage and foster the highest ethical standards in business and professions.

For more information about hosting a student, or becoming an exchange student, contact Stanko at 647-7567 or Tucker at 647-5917. The program is open to students ages 15 to 19.
Rotary Youth Exchange was first established in the 1920s in Denmark. It has grown to host more than 9,000 students yearly.

Foreign Exchange Market Commentary

2009-07-29T11:30:00.000-07:00

EUR/USD closed lower due to profit taking on Tuesday while extending last week's trading range above the 20-day moving average crossing. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off this month's low, June's high crossing is the next upside target.

USD/JPY closed higher due to short covering on Tuesday but remains below the 20-day moving average. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI remain bearish signalling that sideway to lower prices are possible near-term. If it extends Monday's decline, the reaction low crossing is the next downside target. Closes above the 10-day moving average crossing are needed to confirm that a short-term low has been posted.

GBP/USD closed lower on Tuesday as it continues to consolidate above the 20-day moving average crossing. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral to bearish hinting that a short-term top might be in or is near. Closes below the reaction low crossing would temper the near-term friendly outlook. If it extends this month's rally, June's high crossing is the next upside target.

USD/CHF closed lower on Tuesday while extending this summer's trading range. A short covering rally tempered early losses and the mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI have turned bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing would temper the near-term friendly outlook in the market. If it extends the rally off June's low, trading range resistance crossing is the next upside target.

Forex Trading Lesson Of The Week

2009-07-29T11:28:00.000-07:00

Simple Forex Advice To Start Making Money Online

As the forex market becomes more and more popular, more people are jumping in and trying to come up with some miracle forex strategy that will make them a rich man overnight. A lot of rookies believe everything they read and do not take the time to weed out the bad information, and there is plenty of it, and then they end up taking a loss. If they would only take the time to do the right research, they would find the the concepts that produce profits are not brain surgery, they just take some time to develop.

That perfect forex system does not exist, get that out of your head right now. What works is good analysis that will enable you to spot a trend, not try and predict it. The quicker you are able to recognize the trend, the more money you can make. Leave the predictions up to the lady's on the boardwalk, there is no place for that in a successful forex traders toolbox.

The difference in taking advantage of a trend versus trying to predict the forex market is that you are getting in on something as it is moving in a positive direction, not trying to figure out which way it is going to go. If you find this quick enough, you will be able to make money as long as you can recognize when it is moving the other way. Unfortunately, that is usually a little easier to see because you will notice the negative number in your forex account. How you make the most of these trends is by educating yourself and make sure that you are making informed decisions.

After you have entered the market, make sure you establish a stop order. A stop order is your primary line of defense in preventing your losses from getting out of control on a bad deal. Once you see that you are in a bad deal, simply get out. It is going to happen and don't think that you are the one guy that can get that trade to turn around. Welfare lines are full of those guys. What you want to do is get out, analyze where you made a mistake and make sure that it doesn't happen again. If you have a stop mark that is effective, this will be a cheap lesson on what trends not to follow.

If you are looking for one certainty in the forex market, you can be assured that no man and no forex trading system is perfect. Everyone and every system will make a mistake at one point or another. A consistent analysis will still put money in your pocket though. This is not a race that you are trying to win, its money that is the key. Follow the trends and make the most of them. If you are doing good analysis, your wins will far outweigh your losses and after all, that is the goal isn't it?

There is one point that cannot be stressed enough, Do not ever try to predict the market. You may get a little lucky every now and then, but all that will do is assure you of taking some horrible losses down the line. You will get overconfident and start setting wider stop margins and the next thing you know, you are taking huge losses to your bankroll. Instead, play a safe 10% stop and spend your time researching and analyzing. When you start making money online and watch that bank account grow into an enormous sum, you will be glad you followed this simple advice.

Only a few days left to take advantage of GFT's account bonus

2009-07-29T11:13:00.000-07:00

Forex traders in the U.S. can become eligible for an additional $200 when they open an account with GFT

Only three days left for foreign exchange traders in the U.S. to take advantage of a special offer from GFT. We're offering an account bonus until July 31. Contact us via live chat now.

The $200 bonus is available to new GFT customers who open a standard trading account with a minimum balance of $2,500. However, GFT President and CEO Gary L. Tilkin said traders who open larger accounts may be eligible for even more perks.

"Traders with accounts larger than $2,500 will be not only receive this limited-time account bonus, but could also be eligible for even more bonuses through our new account packages program," he said. "It's quite appealing given that you get free tools, news and other benefits."

Forex News: Words say Everything - Its how you read them that changes the meaning

2009-07-29T11:09:00.000-07:00

I was going to write yesterday about how the pattern in which the calls for the dethroning of the US currency are made always has a follow up, half hearted retraction.

I did not, partly because it was obvious and partly because this story is getting old and tiresome as a re-run of a TV sitcom from the seventies. This, however, was the case yesterday as China’s Central Bank calmed the markets by declaring that their monetary reserve policy (and keep an eye on that word “monetary”) has not changed.

What they did not say was that they back the sovereign Dollar and love the idea that 2 Trillion Dollars worth of their assets are invested in the Dollar, but we will go back to this in a little bit.

Forex online junkies can recall not too long ago, when the BRIC nations (Brazil, Russia, India and China) met, there was a call by the Russian President, Dmitry Medvedev, to establish a global bond system through the IMF as an alternative to the Dollar. Later on he “clarified” his point by saying “in addition to” the Dollar.

Not too long before that, was the Russian Finance Minister in Italy making a comment about how the world needs a new reserve currency as the Dollar “has become debt weighted” and a day later the statement again was “clarified” by Moscow which said that the Dollar is and will be the primary Russian reserve for a while (specifically because the IMF bond will take a few years to implement – but not many actually realized that).

This pattern of jab and retreat has played out time and again, and it is because the knee jerk reaction to the Dollars vulnerability and the second world’s absolute resentment of the US has caused conflict in Central Banks around the world.

The fact is, even the retractions are not retractions. Let me go back to the word “monetary” that the Chinese Central Bank used, and let us look at some facts. Now, while their policy might not have changed, being that the proportions of their holdings were left intact, their reserve policy as a whole has shifted to include tangible assets. And thus, the dollar dump has begun…

China, which held over 2 Trillion Dollars in Dollar related Assets in January – about 50% of their reserves, has been using those dollars to purchase raw materials, natural resources and precious metals. In fact, China has gone on such a spending spree, they now accounts for nearly 50% of Australia’s natural resource commodity exports, one of the reasons why Australia is not doing so bad considering the rest of the world.

It is not that the Chinese have changed their monetary policy – the proportions might still be the same, however they seem to have changed their overall reserve policy – opting for things rather than paper.

Russia is also playing this game, only 1 year ago they had about a 1/3rd of their currency reserves in the US Dollar with the total reserves that they had estimated at around 800 Billion. Today, Russia still maintains about 1/3rd of their reserves in the USD, but their overall reserves have shrunk to an estimated 500 Billion.

Oddly enough, their Gold, Platinum and Silver holdings have increase by about 250 Billion Dollars – meaning that they have been diversifying their overall reserves with commodities – just like the Chinese.

What does this mean for Forex traders? It means simply that there is a target on the USD – and while the US’s creditors are trying to find a way out, they need to do so delicately so, as not to disrupt the value of the US on the Forex – a weak Dollar does them no good.

But, as they continue to “diversify” their holdings, keep in mind that more Dollars get added to the market system – watering down the value and inflating the currency. I would anticipate a 5-10% minimum inflation rate in the US in the couple of years – I personally think it could get even higher than that.

As the BRIC’s throw Bricks and then claim ‘it was an accident” the next day – the plans are in the works to dethrone the Dollar. It is coming, be prepared.

Forex News: China, Unemployment and Oil conspire against the Dollar

2009-07-29T11:06:00.000-07:00

The US’s non farm payrolls are due out later on today and for all their trying, the US government has been trumped by a private firm in revealing these numbers.

The street expected about 360,000 jobs were lost, a nice decline and a sign that things might be getting better. However, ADP, the largest payroll processing service in the US, reported that 470,000+ jobs have been “removed from the payrolls” of the companies that ADP services.

Keep in mind that ADP does not service everyone – there are other services and many small businesses do the payrolls by themselves. So it is not out of bounds to think that this number, 470,000 will be higher. For the Dollar, a higher number can be damaging but it is not the only threat to the greenback.

Yesterday, China called for an open debate at next weeks G8 Summit on the viability of another global reserve currency being established. This is a blow to the US efforts to keep the debate out of the IMF and World Bank boardrooms, as they and Britain control the flow at those institutions.

The voices are becoming louder and the masking of their intentions are becoming less – China has now entered the point of no return, the point at which they have firmly committed themselves towards establishing a new world financial order, in which the Dollar is no longer king.

The Dollar fell on this news and the shock from ADP – ironically, the US stock markets rose late in the day. Forex Online traders and Forex chat rooms were abuzz with the news, however the US governments official stance is that ADP’s numbers are NOT official and do not necessarily reflect the non-farms payroll number.

And while the US stock investors seemed to gobble this up, those Forex online traders did not. And I say: good for them.

This is the story that does not die, and it won’t for a while. But as we see the US’s hopes for a second half recovery fading – we should look at the opportunities that are out there for us.

I am still bullish on the Aussie and I am starting to like the Canadian Dollar. As Oil prices rise, as tensions in the middle east drive that precious commodity up, I see opportunity knocking. And I hope everyone is there to answer the door with me.

XL Capital 2Q profit drops 66 percent

2009-07-29T03:08:00.000-07:00

nternational insurer XL Capital Ltd. said Tuesday that its second-quarter profit dropped by two-thirds as the U.S Doller weakened and the company's businesses lost buying power.

Hamilton, Bermuda-based XL Capital reported net income of $79.9 million, or 23 cents a share, for the three months ended June 30. In the same period in 2008, the company said it earned $237.9 million, or $1.33 a share.

Revenue fell 18.8 percent to $1.73 billion from $2.12 billion a year ago.

Analysts surveyed by Thomson Reuters expected earnings of $217 million, or 62 cents per share, on revenue of $1.71 billion.

"This was another turbulent quarter for foreign exchange markets," Chief Executive Officer, Michael S. McGavick, said in a statement.

The U.S. Dollar Index lost more than 6 percent during the second quarter, sapping the buying power of companies that do business overseas. XL Capital, the parent company for numerous commercial insurance businesses in 27 countries, said the weaker dollar resulted in an after-tax loss of $132.6 million.

The company also said its profit was hit by a drop in net investment income of $112 million, compared with the second quarter of 2008.

XL Capital reported its earnings after the market closed. Its stock increased 41 cents, or 3 percent, to $14 in aftermarket trading. In the regular session, the stock fell 23 cents to close at $13.59.

Currency-Trading Revival May Take Years After Slide

2009-07-29T02:59:00.000-07:00

July 28 (Bloomberg) -- Currency-trading volumes may take years to recover after a plunge in risk appetite sparked by the global financial crisis drove away hedge funds and speculators, according to foreign-exchange analysts.

Daily trading in London dropped 25 percent in April from a year earlier, with volumes in North America slumping 26 percent, according to surveys released yesterday by the Bank of England and Federal Reserve Bank of New York. Trade in Tokyo slid 16 percent, data compiled by the Foreign Exchange Market Committee in Tokyo showed.

The collapse of Lehman Brothers Holdings Inc. in September sent markets into a tailspin, prompting a flight from higher- yielding assets into currencies considered a refuge such as the dollar and the yen. While risk appetite is reviving on speculation the worst of the recession is over, a return to pre- crisis volumes won’t happen soon, said Geoff Kendrick at UBS AG.

“It’s probably going to be a multi-year adjustment process,” said Kendrick, a strategist in London at the bank, the world’s second-biggest currency trader, according to Euromoney Institutional Investor Plc. “Hedge funds have been impacted the most.”

The drop in London trading was “largely accounted” for by a 28 percent decline in spot trading, the Bank of England said.

U.K. Trading

The dollar was the most heavily traded currency with an 84 percent share of U.K. turnover in April, according to the Bank of England survey. The euro’s share declined to 45 percent from 48.6 in October, while the pound’s proportion was unchanged at 18.7 percent. As two currencies are involved in the transactions, the sum of the proportions totals 200 percent, the bank said.

Foreign-exchange trading rose to $3.2 trillion a day on average in the three years prior to the Bank for International Settlements’ September 2007 triennial survey.

Lower volumes in foreign-exchange markets contributed to bigger price swings as liquidity dropped, according to Ulrich Leuchtmann, head of foreign-exchange research in Frankfurt at Commerzbank AG, Germany’s second-biggest lender.

Currency trading may be reviving, said Satoru Ogasawara, a foreign-exchange analyst and economist at Credit Suisse Group AG, the largest Swiss bank by market value.

“Trade is gradually improving, which should be very supportive of the foreign-exchange market,” said Ogasawara in Tokyo. “The worst period is over and the decline in volume in foreign-exchange trading has hit bottom.”

Dollar Debate Misses at G8, but Criticism is still there

2009-07-29T02:57:00.000-07:00

So the Dollar was spared yesterday, spared by a seemingly minor situation in an obscure city in an insignificant province of a very relevant state. The Uighur uprising in China took the debate about the value of the dollar as a global reserve unit off the table at the G8 (due to the fact the Chinese president, Hu Jintao, was forced to leave the summit), however it did not stop the show of concern that America’s counterparts in the G8 had.

Germany, one of the US’s staunchest supporters during the Bush years, have chilled that relationship and have become more openly critical of the Obama administration. In the past, when the German government had a problem with the US’s policies, you read about it weeks after it had been sorted out, George W. Bush had a great relationship with the German Chancellor Merkel, and it showed.

It is ironic. Obama’s social philosophy is more aligned with the German’s and much of Western Europe for that matter, Bush was far to the right of where Europe was. However, we are seeing a spate of discontent from the Western European leaders at the Obama policies – and this is most evident in the words and silence of Germany.

Long-time Forex traders know this to be true as in the past, we did not see the spikes we do today in the Dollar, after a European leader gives a speech, today it is routine.

In the absence of the BRIC debate on a global reserve currency, Angela Merkel, the German Chancellor, filled in nicely and spoke of how the focus of many nations vital to the economic stability of the world has been on reliving mistakes of years past.

By assuming the policies of stimulating the economy through a broad array of spending programs, a tactic that was employed and failed in 1933, the rising debt has been ignored and has grown in such a manner, that the entire world is now under threat of jeopardy in more profound manner.

Merkel’s concerns are valid and Forex online traders need to keep this in mind when dealing in the Dollar. As we have seen, the Japanese Yen has been profiting nicely from the return of safe-haven flows where it usually took a secondary role to the Dollar in this capacity.

The Dollar is volatile, more than ever before, because traders as well as the long-term investors are unsure of which way to go. Sentiment keeps us in the Dollar, but reality forces us to look away.

I believe the next three months are vital to determining which way the pendulum will swing for the Dollar – and it starts with the criticism of a European leader that an American policy is too liberal. Go figure.

Aussie and US Dollars rally - One on good news and one for bad

2009-07-29T02:54:00.000-07:00

USD

The Dollar recovered on Tuesday off its lowest level of the year against a basket of currencies, as a steep drop in US consumer confidence raised concerns over the pace of the economic recovery.

This brought back safe-haven flows into the USD and helped pick the Dollar up, after hitting new lows in the past week.

The ICE Futures US Dollar index, which measures the performance of the USD against six of the major currencies, rose to near 79. Earlier, the ICE had fallen to a low of 78.315, the lowest level it had seen since early December.

At 11:00PM GMT, the Dollar was up .43% to the Euro 1.4169, up .3% to the British Pound to 1.6437, up .15% to the Canadian Dollar to 1.0826, and up .5% to the Swiss Franc to .8284.

AUD

The Australian Dollar rallied in the Forex market, after Australia's Central Bank governor fuelled speculation that they might be raising interest rates in the coming months.

Reserve Bank Governor Glenn Stevens commented that the risks to the economy were more balanced and manageable, and that low interest rates could create a housing bubble crisis. This was the clearest sign that the ACB was through with its quantitative easing policy.

At 11:15PM GMT, the Aussie was up .7% to the USD to .8275 after hitting an 11 month high of .8338. The Aussie was also up 1.1% to the Euro to 1.7117, up .3% to the Japanese Yen to 78.38 and up .4% to the New Zealand Dollar to 1.256.

Currency Trading Update

2009-07-28T11:51:00.000-07:00

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Forex Software Updates

2009-07-28T11:46:00.000-07:00

When looking for methods of forex trading often it is a good idea to keep some of the tools

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There are penty of things that can help point out when a market is going to do well and by

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Forex Trading Update: U.S. Dollar Index is Setting the Tone

2009-07-28T11:42:00.000-07:00

Currently the U.S. Dollar Index has been contained in a very harmonic price action pattern. Its structural formation is much cleaner than any currency pair amongst the top five. If the 80.70 level does not reject on a 1 hour candle (currently 80.24) then indeed the US Dollar is in for a multi-week bullish pattern which is likely to show very aggressively in the EUR/USD and GBP/USDS. The Index is perched on support immediately at 84.20 with key but critical support at 79.50 in view.

I would prefer to see the EUR/USD and GBP/USD make one more blush at higher resistance before developing a potentially aggressive bear pattern. The EUR/USD game is a 3980/3900 yardstick and then we should have a verdict.

Resistances: immediate at 1.3957-77, 1.3997, 1.4008, 4037-55, 1.4079, 1.4103-4149, 1.4200 and then 1.4300

Supports: immediate at 1.3928-14/07, 1.3883-64, 3853, 1.3780, 1.3743, 1.3670 and then 1.3349

We have Forex Market Timing Alerts for price action on:

Monday July 13^th 12:40 a.m. – 1:15 a.m. for 3.5 hours duration moderate price action

Monday July 13^th 5:50 a.m. - 6:25 a.m. for 2.75 hours with moderate price action

Please feel free to make questions or comments or review the links below:

Another Duality We Just Cannot Afford

2009-07-28T11:36:00.000-07:00

I spoke yesterday about a duality that exists when Central Bank figure heads, like Ben Bernanke and Jean-Claude Trichet of the US and EU Central Banks, Respectively, straddle political affiliations with fair representations of their economies.

My assessment yesterday was that both of them have toned down their views to appeal to a political agenda, rather than giving accurate interpretations of what is going on. One week they say this, and one week they say that was the thought.

Yet, after Chairman Bernanke gave his report to Congress yesterday, he seemed to play both cards on the same day – in the span of an hour, in front of the same panel, painting optimism and caution all at once.

In his remarks, the Fed Chairman said that he believes that the economy is moving along well for the situation and that he feels that the US can and will see growth in the coming months – that the recovery is poised to begin in the latter part of 2009.

Yet, only 15 minutes later he began to speak of a high unemployment rate, one that is at levels that were unanticipated, one that is expected to continue to grow through the end of the year.

He also spoke of a tight credit market which is squeezing consumers, even ones who traditionally have had great credit are finding it hard to manage in this climate. He spoke of record low real-estate prices which inhibit refinancing and have caused many relying on income from property bought at high prices to take monthly losses from leases and rental agreements.

As Mr. Bernanke spoke, the Dollar, which was down most of the day on a continued risk appetite rally, turned upward, then downward, then upward again – as if the Forex traders and those Forex online professionals tracking his words on the internet could not figure out where he was going.

This is a problem, a big one as I see it, because Mr. Bernanke’s role was, traditionally, to sober up the euphoria that exists or confirm that all is OK – not paint two pictures with one speech.

His predecessor, Alan Greenspan, was noted for his “party-pooping” ways – not giving in the political agenda’s of the administrations he served under – he served four presidents from Reagan to Bush 2.

Greenspan called the internet bubble two years before it happened – “irrational exuberance” he called the fervor with which public offerings were being valuated. He criticized presidential policy when he thought it was harming the economy – like with his testimony in Congress over Bill Clinton’s proposed health care reform – which ultimately failed before it even got to a vote in Congress.

This is the kind of honest and unbiased judgments the Central Bank chair needs to give – and what Bernanke did was coddle the administration of Obama, colluding with them so as not to cause any panic that might jeopardize Obama’s policy initiatives.

Forex traders are becoming less trustful of the Central Bank heads, and it is a problem as this is how fundamental trading is done. It used to be a reliable source of information that would directly affect the currencies of a specific country – now it is taken in stride like a stump speech before an election.

Obama is looking to overhaul the Health Care system by pushing through a bill that will cost more than 1 Trillion Dollar according to the Congressional Budget Office.

This is a bill he has even acknowledged that he has not read – and is making contradictory statements about what it contains because he really has no idea what is in it.

A dire economic outlook would kill it – and trust me, it is losing support by the day right now. Bernanke for his part, is up for re-nomination in January. It is widely expected that Obama’s senior political advisor, Larry Summers, will be the one tapped for the role instead of Bernanke, who was a Bush 2 appointee.

Bernanke would serve his job better, serve the people of America better and serve the Forex traders better if he would focus on his current job, and not worry about keeping it come next year. Chances are, he is not even in the running now anyway, and all this back and forth to help Obama is not going to change that.

Stock markets are rising? Look at the Big Picture!

2009-07-28T11:31:00.000-07:00

With many of the primary stock markets reaching yearly highs, it would appear that optimism about the prospects for a global recovery is high. The increase in overall risk appetite in the Forex and the jump in stocks have been incredibly impressive.

According to the news reports, these shifts in sentiment have been driven higher by better than expected corporate earnings out of the US along with good economic data. But something is just not adding up for me, and I am not quite sure where to place my disbelief.

It is odd that just as the markets are flying, bond yields for the major economic countries, the US, Japan, England etc, are going higher. Now obviously this is due in part to trader speculation that once the recovery takes hold, these countries will have no choice but to start raising their low rates.

But what concerns me is the effect of quantitative easing that many of these countries employed. Funnelling money into the system at such a large rate as many of these countries had, will no doubt cause mild to moderate inflation – which would require lower rates. So what is going on?

Last week gave us a clue that all is not so rosy though. England reported a weaker-than-expected GDP figures for the second quarter – much weaker than expected to be specific.

Perhaps the Brits are not fudging their numbers like the Americans are – not that I know anything for a fact, but it wont surprise me to find that out in a few months.

This week's vast amount of economic data coming out of Europe and the US should help paint a better picture. I fully expect sugar-coating, but I know that the Forex traders will be keen to pick up on that.

Among the core numbers to look for this week are the US GDP and the Chicago Purchasing Managers Index. Consumer Confidence and Housing Prices along with New Home Sales numbers are important, but this is where my scepticism is most pronounced as we have seen anomalies in these numbers in recent months and they are easier to manipulate – so keep a sharp eye out there.

I expect the general tone of this week's data to support the recent signs of improvement. It remains to be seen, however, whether the outturns will be sufficient to maintain the bullish momentum as we head into August. Short of very strong numbers, I doubt it will happen.

Look for a weaker week in the Dollar and look for the Aussie and Kiwi to be the beneficiaries of that.

What is Forex (Foreign Exchange)?

2009-07-28T11:16:00.000-07:00

Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial market in the world, with the equivalent of over $1.9 trillion changing hands daily; more than three times the aggregate amount of the US Equity and Treasury markets combined. Unlike other financial markets, the Forex market has no physical location and no central exchange (off-exchange). It operates through a global network of banks, corporations and individuals trading one currency for another. The lack of a physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one zone to another in all the major financial centers.

Traditionally, retail investors' only means of gaining access to the foreign exchange market was through banks that transacted large amounts of currencies for commercial and investment purposes. Trading volume has increased rapidly over time, especially after exchange rates were allowed to float freely in 1971. Today, importers and exporters, international portfolio managers, multinational corporations, speculators, day traders, long-term holders and hedge funds all use the FOREX market to pay for goods and services, transact in financial assets or to reduce the risk of currency movements by hedging their exposure in other markets.

MG Financial, now operating in over 100 countries, serves all manner of clients, comprising speculators and strategic traders. Whether it’s day-traders looking for short-term gains, or fund managers wanting to hedge their non-US assets, MG's DealStation™ allows them to participate in FOREX trading by providing a combination of live quotes, Real-Time charts, and news and analysis that attracts traders with an orientation towards fundamental and/or technical analysis.

the foreign exchange (currency or forex, or FX) market is the and the most liquid financial market with the daily volume of more than $3.2 trillion. Trading on this market involves buying and selling world currencies taking the profit from the exchange rates difference. Forex trading can yield high profits, but it is also very risky. Everyone can participate in Forex trading via the Forex brokers.

Don’t forget to check and bookmark my Forex blog to get the latest updates about Forex market and this site’s content. You can also join a friendly Forex traders community at the Forex Forum.

Market Research

2009-07-28T02:44:00.000-07:00

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market research firms - Startup businesses should consider that a successful business marketing plan has little to do with a gut feeling or a guess; it is rather based on sound market research. A competitive advantage will be given to any small business that realizes this. This is not however, where entrepreneurs focus their attentions. Market research firms - Even though well done market research is crucial for understanding the competition, most entrepreneur ideas center on entrepreneur business opportunities and creating successful products. If an entrepreneur spends time understanding competition on all levels: product competition, segment competition, demand competition, technology competition and future competition, entrepreneurs would be well equipped to implement competition strategies will be highly effective.
market research surveys - When companies look for ways to increase revenue, they have few options. They can attract more customers for their existing products, raise prices, or offer new products to the public. market research surveys - the problem is that the development costs of creating a new product are often significant. Investing limited resources in that development carries a certain level of risk. After all, if a new product fails to generate sales, the resources that were allocated to its development are wasted.
market research surveys - the main reason to survey your market prior to developing a new product is to identify the likelihood of generating sales. This goes far beyond merely asking people if they would buy it. These surveys can help you determine if a need or desire for the product exists in the market. And if so, will people pay for it? A market research surveys should help you gauge whether those who show interest in your company's new product have the necessary discretionary income and the willingness to spend it.

How To Earn Money On The Internet

2009-07-28T02:32:00.000-07:00

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Stock Averages and Brokers

2009-07-28T02:26:00.000-07:00

Stock Averages and Brokers
Every day on the Stock market news we hear about the Dow Jones Industrial Average, and other averages like the S&P 500 or The Russell 2000. These are the broad market averages designed to tell you how companies traded on the stock market are doing in general. The Dow Jones Industrial Average is simply the average value of 30 large industrial stocks. Big companies like General Motors, Goodyear, IBM and Exxon are the companies that make up this index. The S&P 500 is the average value of 500 large companies. The Russel 2000 index averages the values of 2,000 smaller companies.

These averages tell you the general health of stock prices as a whole. If the economy is doing well,the prices of stocks as a whole tend to rise in what is referred to as a "bull market" but If it is doing poorly, prices as a group start to fall in what is called a "bear market". The averages reveal these tendencies of rising and falling prices of stock in the market as a whole.

There are three big stock exchanges in the United States:

NYSE - New York Stock Exchange
AMEX - American Stock Exchange
NASDAQ - National Association of Securities Dealers

Stock in a company that does not meet the requirements of an exchange to get listed are called Over The Counter (OTC)stocks and are sold over the counter as its name.

Stock broker:
If you want to buy or sell stock, you don't have to go to stock exchanges like NYSE or AMEX. You can just call an agent who is authorized to trade at the exchange generally called Stock broker in a firm who will deal on behalf of you.And in a return,You need to pay stock broker a commission (generally $10 to $100 per trade, depending on the broker).

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2009-07-28T02:18:00.000-07:00

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Dollar Falls Toward Seven-Weak Low Against Euro On Stock Rally

2009-07-28T02:12:00.000-07:00

July 28 -- The dollar fell toward its lowest level in seven weeks against the euro as Asian stocks extended a global rally, adding to evidence investors are shifting to higher-yielding assets.
The Australian dollar rose for a third day against the greenback after the Reserve Bank of Australia said the South Pacific nation’s economy may rebound faster than it forecast six months ago. The euro approached a three-week high against the yen after Deutsche Bank AG said second-quarter profit rose 68 percent, beating analysts’ estimates, on increased revenue from trading bonds and stocks.
“Rising share prices will make it easier for investors to take more risks,” said Toshiya Yamauchi, manager of the foreign-exchange margin trading department in Tokyo at Ueda Harlow Ltd. “Under such circumstances, the dollar and the yen will weaken, especially against the currencies of resource-rich nations and emerging markets.”
The dollar declined to $1.4275 per euro as of 7:05 a.m. in London from $1.4232 in New York yesterday, when it touched $1.4298, the lowest level since June 3. The U.S. currency was at 95.13 yen from 95.18 yen.
The euro rose to 135.80 yen from 135.48 yen yesterday, when it reached 136.10 yen, the strongest since July 2. The U.S. dollar fell to as low as C$1.0761 today, its weakest versus Canada’s dollar since Oct. 3.
MSCI’s Asia Pacific index of regional shares rose for an 11th day, the longest winning streak since January 2004, adding to evidence investor risk-appetite is increasing. The index climbed 0.9 percent today.
Dollar Index
The Dollar Index was near the lowest level this year before a report that economists said will show U.S. home prices fell at a slower pace in May, indicating that the American economy is recovering and demand for safe haven currencies will fall.
The S&P/Case Shiller index of 20 major metropolitan areas, scheduled for release today, will show property values fell 17.9 percent in May from a year earlier, according to a Bloomberg News survey of economists. The measure was down 18.1 percent in the 12 months ended April.
The Dollar Index, which the ICE uses to track the greenback against currencies including the yen, pound and Swedish krona, was at 78.476 from 78.626 yesterday, near this year’s low of 78.334 on June 2
The Australian dollar climbed after RBA Governor Glenn Stevens said it appears “that the downturn we are having may turn out not to be one of the more serious ones of the postwar era, in contrast to the experiences of so many other countries.”
Upside Risks
“We can much more easily imagine upside risks to the outlook, to balance out the downside ones, than was the case six month ago,” the Reserve Bank chief said in Sydney today.
Stevens left the benchmark lending rate at 3 percent on July 7 for a third month amid signs the lowest borrowing costs in half a century and government spending helped the nation skirt a recession.
“With Australia’s economy apparently doing well, there may be no more scope for interest-rate cuts,” said Masashi Kurabe, head of currency sales and trading in Hong Kong at Bank of Tokyo-Mitsubishi UFJ Ltd., a unit of Japan’s biggest publicly traded bank. “Higher-yielding currencies such as Australia’s dollar will likely be popular, with demand from people in countries with low yields such as Japan.”
Benchmark interest rates of 8.75 percent in Brazil and 0.25 percent in Sweden compare with 0.1 percent in Japan and as low as zero in the U.S.
The Australian dollar rose to 83.02 U.S. cents from 82.27 cents yesterday, and advanced to 78.97 yen from 78.31 yen.
Deutsche Earnings
The euro gained for a fourth day against the yen after Germany’s largest bank said in a statement today net income rose to 1.09 billion euros ($1.55 billion), or 1.64 euros a share, from 649 million euros, or 1.27 euros, a year earlier. Deutsche Bank’s earnings exceeded the 944 million-euro median estimate of 13 analysts surveyed.
“The bank’s results were better than expected,” said Lee Wai Tuck, a currency strategist at Forecast Pte in Singapore. “The latest upmove in the euro could be due to this.”
Deutsche Bank’s Chief Executive Officer Josef Ackermann said the banking industry and financial markets stabilized in the quarter, propelling a fourfold gain in income from debt sales and an improvement in equity trading.
Losses in the yen against the dollar were tempered on speculation Japanese exporters are taking advantage of the currency’s drop in the past week to repatriate earnings from overseas assets before the month-end.
Japanese Exporters
“Exporters are prone to buy the yen, given that the end of the month is near,” said Yuji Saito, head of the foreign- exchange group in Tokyo at Societe Generale, France’s third- largest bank.
Japanese companies forecast the yen would average 94.85 per dollar in the 12 months to March 2010, according to the Bank of Japan’s quarterly Tankan survey released July 1.
Adding to pressure on the dollar, China’s Assistant Finance Minister Zhu Guangyao said on the first day of bilateral talks with U.S. officials that his government remains “concerned” about the value of its U.S. assets.
Zhu’s remarks come after repeated public assurances by Treasury Secretary Timothy Geithner that the U.S. is committed to reining in a record budget deficit once an economic recovery is secured. China is the biggest foreign investor in U.S. government debt, and any decline in demand could push up borrowing costs.
“China has massive holdings of Treasuries, so it is obviously worried,” said Masanobu Ishikawa, general manager of foreign exchange at Tokyo Forex & Ueda Harlow Ltd., Japan’s largest currency broker. “Any diversification away from the dollar could be gradual, and the greenback may weaken a bit.”

U.S. Markets Wrap: Stocks Increase as Treasuries, Dollar Fall

2009-07-28T02:04:00.000-07:00

U.S. stocks rose, adding to the Dow Jones Industrial Average’s best two-week rally since 2000, as the biggest jump in new-home sales in eight years overshadowed disappointing results from Aetna Inc. and RadioShack Corp.

Centex Corp. rallied 9.1 percent to lead a gauge of homebuilders in the Standard & Poor’s 500 Index to an almost three-month high, and Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co. also climbed. Aetna and RadioShack lost at least 2.7 percent each.

The S&P 500 added 0.3 percent to 982.18 at 4:10 p.m. in New York, the highest level since Nov. 4. They increased 15.27 points, or 0.2 percent, to 9,108.51. The Russell 2000 Index added 0.4 percent to 550.88, the highest close since Oct. 14.

“When you’ve got a good rally, people want to jump in,” said Jonathan Vyorst, senior vice president at New York-based Paradigm Capital Management Inc., which oversees about $1.5 billion. “The potential for mediocre earnings is out there. But if there are a couple good surprises, the market will likely take off.”

The Dow average surged 12 percent in the two weeks before today after companies including Caterpillar Inc. and 3M Co. reported earnings that beat estimates and a gain in existing home sales added to signs the recession is easing. The S&P 500 ended July 24 at its most expensive valuation since September, trading for 16.23 times profit from the past year.

The Commerce Department reported U.S. new-home sales climbed the most in eight years in June, in a sign the deepest housing slump since The Great Deal is starting to stabilize.

Treasury Auctions

Treasuries fell, pushing the yield on the 10-year note to the highest in over a month, as the U.S. began selling a record $115 billion in notes. The U.S. sold $6 billion in 20-year Treasury Inflation Protected Securities at a yield of 2.387 percent, higher than forecast. The Treasury will sell 2-, 5-, and 7-year notes over three days starting tomorrow.

The yield on the benchmark 10-year note rose six basis points, or 0.06 percentage point, to 3.72 percent at 2:55 p.m. in New York, according to BGCantor Market Data. It touched 3.76 percent, the most since June 22. The 3.125 percent security maturing in May 2019 fell 15/32, or $4.69 per $1,000 face amount, to 95 5/32.

The dollar traded near the lowest level this year against the currencies of six major U.S. trading partners on speculation the global economy is shaking off the worst recession since World War II, sapping safety demand.

Daily Technical Analysis

2009-07-28T01:56:00.000-07:00

EURUSD Outlook

The EURUSD mad indecisive movement yesterday. The pair attempted to push higher, hit a seven week high at 1.4297 but closed lower at 1.4242. We are getting closer to the key level 1.4336. Only a clear break above that area should give us a bullish view towards 1.4719 area. Until that happen, I still prefer to keep stay out. We have been patiently waiting for several weeks now so it should not be a problem to wait just a little more (I hope). Immediate support at 1.4150. Break below that area should trigger further bearish pressure towards 1.4050

GBPUSD Outlook

The GBPUSD attempted to push lower yesterday, bottomed at 1.6380 but further bearish pressure was rejected as the pair whipsawed to the upside, hit the top at 1.6522 and closed at 1.6490. On h4 chart below we can see that it was a case of a false breakout from the rising wedge formation. The bias is neutral both in nearest and medium term. Immediate resistance at 1.6590. Initial support at 1.6380. Break below that area should trigger further bearish momentum.

USDJPY Outlook

The USDJPY had a moderate bullish momentum yesterday. The pair has been able to stay above key level 94.60 in the last three days. The bias is bullish in nearest term testing 96.05 area but remains neutral in medium term. CCI almost cross the 100 line on h4 chart suggesting potential upside pressure

USDCHF Outlook

The USDCHF made indecisive movement yesterday, formed a Doji formation on Daily chart. On h4 chart below we also have triangle formation indicating consolidation. We have no clear direction so far, so stay away from the market. Immediate resistance at 1.0750. Consistent move above that area should trigger further bullish pressure towards 1.0900. Initial support at 1.0620. CCI in neutral area on h4 chart

EURJPY Outlook

The EURJPY had a bullish momentum yesterday. The pair breakout from the triangle, topped at 136.08 and closed at 135.59. This fact should set up bullish view for us. The bias is bullish in nearest term targeting 138.90 area. However CCI in overbought area and heading down on h4 chart so watch out for a potential downside rebound testing 134.90. Break below that area should lead us back into no trading zone.

GBPJPY Outlook

The GBPJPY had a bullish momentum yesterday, topped at 157.45 and closed at 156.95. The bias is bullish in nearest term. However, on h4 chart below we seem to have good resistance around 157.59, a double top formation which suggests potential downside rebound testing 156.00 area. Break below that area should be seen as potential threat to the bullish outlook. Break above 157.59 should trigger further bullish momentum targeting 158.50.

AUSUSD Outlook

The AUDUSD had a bullish momentum yesterday, topped at 0.8258 and closed at 0.8229. We are in critical point now and about to see whether this bullish momentum is strong enough to break above 0.8261 area and set up a bullish view for us towards 0.8500 area. Immediate support at 0.8170/50 area. Break below that area should trigger further bearish momentum

Gold Bounces Back to $950/oz

2009-07-27T10:18:00.000-07:00

Gold has popped back above $950/oz to our 1st tier downtrend line as the previous metal builds a new psychological base. However, we do notice some rising action to the downside for a couple hours yesterday, so investors should monitor volume over the next couple sessions to see where interest lies.

While gold is tempted to pop higher towards June 10th highs and our 3rd tier downtrend line, investors are standing on the sideline as they monitor the S&P’s interaction with its own psychological 950 level. Gold and U. S. equities are positively correlated, so any immediate-term breakout past 950 and 2009 highs in the S&P’s could result in sizable gains in the precious metal.

Near-term momentum is in favor of the uptrend even though the market as a whole is has experienced some hesitation from investors over the past 24 hours. We notice similar consolidation in both the EUR/USD and GBP/USD. Therefore, today’s session could be important in determining whether gold takes the next step to the upside, or opts for near-term downward consolidation. Gold has our 1st and 2nd tier uptrend and 1st tier downtrend lines to fall back on along with July 20 lows.

Disclaimer: For information purposes only. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained. There is a substantial risk of loss in trading futures and foreign exchange.

Ranbaxy Profit Rises Sharply Amid Foreign-Exchange Gains

2009-07-27T10:08:00.000-07:00

The India-based company also retained its financial guidance for the year, even as it said it expects to meet soon with U.S. Food and Drug Administration officials to move forward on the resolution of pending regulatory issues with the agency.

Consolidated profit for the quarter ended June 30 rose to 6.93 billion rupees ($144 million) from 229 million rupees a year earlier, helped by foreign-exchange gains of 8.07 billion rupees, Ranbaxy said.

Ranbaxy, a unit of Daiichi Sankyo Co. of Japan, had reported losses in the past three sequential quarters, hit by unfavorable currency bets, regulatory problems in the U.S. -- its largest market -- and the global economic slowdown.

The company is vulnerable to currency volatility because of the high level of hedged positions on foreign-currency billings and the large size of its overseas loans.

It booked losses when the rupee fell against the U.S. dollar earlier this year. However, with the rupee rising about 6% against the dollar during the quarter, the company said it has substantially reversed the marked-to-market losses booked in the January-March quarter. Ranbaxy had outstanding foreign-exchange derivative contracts of $1.2 billion at the end of June.

Excluding foreign-exchange gains, profit after tax was 633 million rupees in the second quarter. Consolidated sales fell 1.9% to 17.95 billion rupees from a year earlier, the company said.

"Our focus remains on profits and cash flow, especially given the global recession," Chief Executive and Managing Director Atul Sobti said at a news conference. He said Ranbaxy won't as yet make changes to its forecast of a loss of about eight billion rupees on sales of 70 billion rupees for 2009.

Mr. Sobti said a higher revenue contribution from emerging markets and good cost controls helped the company offset pressures from higher expenditure on regulatory compliance and other costs.

The company's results for the quarter included a severance payment of 480 million rupees to Malvinder Singh, who stepped down as chairman, CEO and managing director in May. Daiichi Sankyo representative Tsutomu Une took over as Ranbaxy chairman.

The management shuffle, which effectively removed members of the company's founding family, was seen as a step by Daiichi Sankyo to strengthen its control and accelerate the revival of operations by resolving FDA issues.

Ranbaxy's declining sales in the U.S. -- which slid 41% to 3.03 billion rupees in the quarter -- is a fallout of last September's ban on the import of more than 30 generic drugs into the U.S. because of manufacturing violations at the company's Dewas and Paonta Sahib plants.

"The cooperation with the FDA is continuing," Mr. Sobti said. He said the company will soon write to FDA officials, inviting them to re-inspect the Dewas plant. He also expects to hear from the FDA this month on its "corrective action plan" for the Paonta Sahib plant.

Asia Shares End Up; Nikkei Rises 9th Straight Session

2009-07-27T04:27:00.000-07:00

Most Asian markets romped ahead Monday on buoyant investor sentiment amid hopes for a speedy economic recovery.

Japanese shares rose for a ninth straight session, marking their longest winning streak in more than 20 years, while Shanghai's benchmark index reached its best closing level in nearly 14 months.

The Nikkei 225 Average jumped 1.5% to 10088.66 in Tokyo, ending above the 10000-point level for the first time since mid-June. China's Shanghai Composite advanced into a fourth session to end up 1.9% at 3435.21, a closing level it hasn't seen since early June 2008.

"I don't really see guys steaming into the market right now. We're approaching bubble territory, but I don't feel like we're there yet," said Ben Collett, head of cash equities at TFS Derivatives in Hong Kong.

"The moves here have been massive. Arguably, they've been excessive relative to Europe or U.S., but if you want to look at growth, fundamentals across Asia are better."

Toll-road operator Sichuan Expressway rocketed on its debut in Shanghai, more than tripling from its initial public offering price of 3.60 yuan (53 U.S. cents) to end at CNY10.90 on a buying frenzy. The stock surged as high as CNY15.25 during the session and trading had to be suspended twice due to their "unusual" performance.

"Sichuan Expressway's debut is adding steam to the market's frenzy," said Jacky Zhang at CSC International.

The performance lifted Sichuan's Hong Kong-listed shares 5.6%. The benchmark Hang Seng Index, meanwhile, rose 1.4% to end at 20251.62 - its first finish above the psychologically-crucial 20000-point level since September.

Elsewhere, Australia's S&P/ASX 200 Index ended 1.2% higher, South Korea's Kospi gained 1.4%, New Zealand's NZX-50 added 1.2%, Taiwan's Taiex rose 0.8% and Singapore's Straits Times closed up 1.7%. India's Sensex ended flat with market heavyweight Reliance Industries falling 3.7% after its weaker-than-expected fiscal first-quarter results on Friday.

"The positive undercurrent is still very strong," said Gabriel Gan, AmFraser senior vice president of equity sales.

Dow Jones Industrial Average futures were up 20 points in screen trade recently, after a mixed performance on Wall Street on Friday.

Investors were looking forward to coming events, including high-level talks between China and the U.S., and advance U.S. second quarter gross domestic product data.

"People say the rally is going to fade, but that's rubbish. There's obviously cash coming in from the sidelines and I'm seeing very little resistance," said Southern Cross Equities Director Charlie Aitken.

Nomura Holdings rose 3.1% in Tokyo and Daiwa Securities added 4.5%, after the Nikkei newspaper reported Japan's three biggest brokerages - Nomura, Daiwa and Nikko Cordial - were likely to have turned a profit in the fiscal first quarter ended June.

Hitachi rose 3.4% with strong trading volumes. A spokesman said the Japanese electronics maker was reviewing its capital relationship with its units in general, but declined to comment on a Nikkei report that Hitachi planned to turn five listed group firms into wholly-owned units.

Clarion, which is 63.7% owned by Hitachi, jumped 13.6%, accompanied by heavy trading volumes.

But Japanese shipping companies lost ground after cutting full-year forecasts, with Nippon Yusen down 4.6%, Mitsui O.S.K. Lines down 3.5% and Kawasaki Kisen Kaisha off 4%.

China Everbright surged 11.3% in Hong Kong, supported by news China Everbright Securities had final permission for its yuan-denominated Class A share raising from Chinese regulators.

Aluminum Corp. of China, or Chalco, shook off early weakness to advance 8.1% in Shanghai and 4.5% in Hong Kong, despite warning it could swing to a net loss in the first half on insufficient demand and low aluminum prices. Analysts said the news wasn't unexpected.

Leighton Holdings pushed up 2.2%, after announcing A$900 million in new contracts, including building a hotel with a joint venture partner in Abu Dhabi.

Retail stocks gained in Seoul, with Lotte Shopping up 5.8% and Hyundai Department Store adding 3.1%. South Korea's Consumer Sentiment Index rose for a fourth-straight month in July to its highest level in seven years, inching up to 109 from 106 in June, the results of a Bank of Korea poll showed.

In currency trading, the U.S. dollar was at Y94.98, from Y94.69 in New York on Friday. The euro bought Y135.34, from Y134.53 in New York, and $1.4241, from $1.4212.

ANZ Senior Dealer Alex Sinton said the U.S. dollar faced several tests in the coming week. "There's probably going to be a few nerves ahead of the U.S. GDP release."

Nymex crude-oil futures rose 66 cents on Globex to $68.71 a barrel, reversing an early decline to $67.68.

Spot gold was up $2.80 from New York, at $954.40 a troy ounce. "Gold remains in a state of flux. It is taking most of its cues from the U.S. dollar, with the [inverse] correlation surging to about 80% last month," said analysts at MKS Finance.