Owner: Forex | Forex Trading URL:http://look-forex.blogspot.com Join Date: Mon, 10 Sep 2007 20:45:33 -0500 Rating:0 Site Description: This Blog Provide Some Forex News, Forex Daily Analsysis,and Information for beginners, also existing traders. Site statistics:Click here
Traders focus on Fed Chairman Bernanke Speech 2007-09-10 18:49:00 The dollar hit a 15-year low against a basket of currencies on Monday as investors braced for the Federal Reserve to slash interest rates next week to stimulate a U.S. economy showing signs of fatigue.Euro-zone interest rates, meanwhile, are seen rising before the year is out, diminishing the dollar's yield advantage and sending it to its lowest level against the euro in a month.Demand for the dollar fell sharply on Friday after data showed U.S. employers cut jobs in August for the first time in four years.That sparked fear that a deepening housing slump and credit crisis was starting to cost American jobs and led investors to position for the Fed to cut its benchmark interest rate by 50 basis points at its Sept. 18 meeting.Before the jobs data, markets were expecting a 25-basis-point cut. But one in five primary dealers polled by Reuters now expects a bigger cut, while Fed funds futures put the chance above 80 percent."This is a no-win situation for the dollar," said Alan Ruskin, chi Read more:Chairman
, Bernanke
, Speech
Weak Dollar can see the Yen strengthening! 2007-09-10 09:40:00 USD/JPY Long signal Buy a break of resistance level at 114.35Buy a break of resistance level at 113.85Buy a bounce of 111.60Short signal Sell a break of support level at 112.95Sell a break of support level at 111.60Sell if cannot break 113.85Technical AnalysisThe US dollar continues the downtrend against the Japanese Yen; according to technical indicators the market has strong supplies. Other indicators as ATR, ROC, and RSI, are giving us bearish signals. The daily chart shows that the USD/JPY recently breaks the support 114.35 and fails to make higher then 115.45*The following analysis is for information only; Finotec is not responsible for any decisions or misinterpretations based on the given text.FundamentalThe yen rose against the dollar and the euro after a loss in U.S. jobs caused Asian stocks to decline, prompting investors to sell higher-yielding assets bought with loans in Japan.The currency advanced the most against the Australian and New Zealand dollars, favorites for so-ca Read more:Dollar
, strengthening
The Fed expected to cut the rate by 0.5% 2007-09-10 09:30:00 The green buck slips to a 15-year low against a basket of currencies after data showing U.S. employers cut jobs for the first time in four years, supporting the analyst’s expectations for a big Federal Reserve rate cut this month.Nonfarm Employment Change data in US showed in Friday that the companies cut 4 thousand jobs last month, the first decline since August 2003, leading investors to see a bigger chance that the Fed will cut rate by 0.5% from current level 5.25% to protect the economy from the housing market crisis.Investors continue to sell the dollar this morning after the unexpected drop in U.S. jobs. "The trend in the dollar is clearly downward," said Tsutomu Soma, a senior manager of foreign securities at Okasan Securities.We can see the dollar reached a lowest level this morning against the yen at 112.70 but trimmed its losses on buying by Japanese importers which pushed the pair USD/JPY up to the level of 113.35 today, a little bit down from highest level around 113.40 y
Non Farm Payrolls Declines For The First Time In 4 Years By 4 Thousand Jobs 2007-09-10 05:32:00 CURRENCY TRADING SUMMARY – 10 SEPTEMBER 2007 (00:30GMT)U.S. Dollar Trading (USD) eased to 15 year lows against a basket of currencies as Non Farm Payrolls
for the month of August declined for the first time in four years, by 4k jobs. Poor jobs data added to the notion that the U.S. economy may be heading into a recession placing pressure on an interest rate cut. Markets are now pricing in a 74 percent chance that the Fed slashes its 5.25 percent benchmark interest rate by half a percentage point when it meets on Sept 18. In U.S. share markets, the NASDAQ was down -48.62 points (-1.86%) whilst the Dow Jones also tumbled by -249.97 points (-1.87%). Crude oil gained on a broadly weaker USD, up by US$0.41 a barrel to US$76.71.The Euro (EUR) gained against the USD following poor payrolls data, which pushed the greenback lower across the board. Overall the EURUSD traded with a low 1.3663 and a high of 1.3799 before closing the day at 1.3789 in the New York session.The Japanese Yen (JPY) lo Read more:First
, Years
, Thousand
, First Time
The Dollar Index Dips to a 15-yr Low on Job Cuts 2007-09-09 19:25:00 The dollar fell to a 15-year low against major currencies on Friday as data showed U.S. payrolls fell last month for the first time in four years, raising recession fears and pressure for an interest-rate cut.Traders dumped the dollar after the government said the United States shed 4,000 net jobs last month, the first contraction since August 2003. It also reduced estimated June and July job gains. The payrolls data followed a larger-than-expected declinein July pending home sales reported earlier this week -- more evidence that a credit crunch that began with losses on bonds tied to risky U.S. mortgages was starting to put the brakes on growth. "Today's employment report and the revisions are enough tojustify several interest rate cuts by the Federal Reserve," said David Kotok, chief investment officer at Cumberland Advisors in Vineland, New Jersey. "It is clear from this report that the U.S. employment situation is worsening."Markets are now pricing in a 74 percent chance that the Read more:Dollar
, Index
U.S. Nonfarm Payrolls Report Will Lead The Market 2007-09-06 23:40:00 The dollar fell versus the euro after a report showed U.S. mortgage delinquencies reached a record in the second quarter. The U.S. currency weakened against 15 of the 16 most- actively traded currencies as the data also showed sales of previously owned homes probably will fall this year to the lowest since 2002. European Central Bank President Jean-Claude Trichet said inflation risks still ``lie on the upside'' after the ECB and the Bank of England kept interest rates unchanged. ``The euro zone still looks strong, while there's nothing to get excited about in the U.S. economy,'' said Greg Salvaggio, vice president of capital markets at currency-trading company Tempus Consulting in Washington. ``That will weigh on the dollar.''The dollar fell after the report showed the share of all U.S. mortgages entering foreclosure rose to 0.65 percent in the second quarter, an all-time high, from 0.58 percent in 2007's first three months. The percentage of sub prime borrowers making late pay Read more:Market
, Payrolls
Dollar Falls On Weak Housing Data 2007-09-06 10:23:00 The dollar fell against the Euro, British Pound, Swiss Franc and Japanese Yen yesterday after the pending home sales index dropped 12.2% to 89.9 in July, the weakest level since September 2001. This further extended the concern that the housing market could still have a real effect on the real economy in the short and medium terms.Private sector jobs also slowed +38,000 in August which sent US stock indexes lower. The dollar was unchanged after the release of the Fed Beige Book which indicated tighter credit will further hurt the housing market.Gold has been a superb performer for the past two weeks, rising almost every day. Fundamentally, this tells us that the dollar is still weak and investors are flocking to a safe-haven. Technically, there are two scenarios to observe very carefully: i. Gold hitting a short-term double top between $688 and $695. ii. The break-out of the major triangle formation, and confirmed by a break through $695 will causing Gold shooting upwards toward $730 f Read more:Housing
, Dollar
, Falls
BOE, ECB Act to Protect Economies From Higher Rate 2007-09-06 07:31:00 The Bank of England offered extra cash to financial institutions and the European Central Bank said it is ``ready to contribute'' as policy makers sought to shield economies from an increase in borrowing costs.While the ECB provided emergency funds last month, this is the Bank of England's first attempt to lower the cost of credit. The collapse of the U.S. subprime mortgage market has made banks reluctant to lend to each other, boosting the rate banks charge to borrow in dollars for three months to the highest since 2001. Both central banks announce monthly interest-rate decisions tomorrow. ``The increase in funding rates, if it persists, could have adverse effects on companies and hurt the real economy,'' said Neil Mackinnon, chief economist at London-based hedge fund ECU Group Plc and a former U.K. Treasury official. ``Central banks are doing what they think is best, but I don't see any signs of rates coming back down until confidence revives.''The U.K. central bank is respon Read more:Protect
, Higher
Dollar Gains vs. yen, Euro as U.S. Stocks Rise 2007-09-05 18:59:00 The dollar rose against the yen and the euro on Tuesday, tracking gains in U.S. equities after a report on August manufacturing eased fears of a steep decline in economic activity. Earlier in the session the yen pushed higher as a decline in European stocks reflected the unwinding of risky carry trades that use cheaply borrowed yen to buy higher-yielding currencies. "Equities are still driving currencies, and for now, the market isn't pricing in a radical contraction in U.S. growth," said Boris Schlossberg, senior currency strategist at DailyFX.com in New York.The European currency fell for a second straight day, weighed down partly by trouble at German banks with hefty exposure to U.S. sub prime mortgage debt, the origin of broader problems in credit markets. That has injected uncertainty into the path of euro zone interest rates. The latest Reuters poll gave a median 40 percent chance of a rate hike when the European Central Bank meets on Thursday.The ECB last raised rates in June, Read more:Stocks
, Dollar
The Dollar Steady Vs. The Majors on light Volume 2007-09-04 09:35:00 The dollar steadied versus the euro and yen on Monday at the start of a busy week for U.S. data which should shed light
on the extent to which the credit markets turmoil is taking a toll on growth. Trading was subdued due to a Labor Day public holiday in the United States.High-yielding currencies got a boost as risk aversion eased after the Federal Reserve and U.S. government gave assurances that they would shelter the economy from the sub prime mortgage crisis. Fed Chairman Ben Bernanke repeated late last week that the central bank would take all necessary steps to protect the economy from the market volatility but would not bail out lenders or investors suffering big losses.U.S. President George W. Bush pledged to help homeowners in danger of defaulting on risky mortgages, but emphasized that the government would not rescue the mortgage lending industry. "We are seeing a delayed response on Friday from Bush's announcement, equity markets are faring a bit better and this is supportin Read more:Dollar
, Volume
Sterling shows us strength against Swiss Franc 2007-09-03 08:26:00 Mon, Sep 3 2007, 09:33 GMTby Benny MenasheTechnical AnalysisThe Sterling
continues the uptrend against
the Swiss
Franc; according to technical indicators the market has strong momentum. Other indicators as ATR, ROC, and RSI, are giving us bullish signals. The daily chart shows that the GBP/CHF recently breaks the resistance 2.4230 and fails to make a lower low then 2.4030FundamentalUK – Event risk in the UK will be mild over the next few days, and the Nationwide surveys of consumer confidence could fall back for the month of August, as volatile financial markets and the risk of tighter monetary policy may be cause for concern. The Bank of England’s rate decision will be the big draw, however, the central bank is highly unlikely and is not expected to adjust monetary policy as inflation remains below their 2 percent target.Switzerland – While Swiss economic data tends to only have a short-term effect on the national currency, it will be worth looking at the SVME PMI and GDP releas Read more:strength
Sub prime mortgage crisis has sparked fears of global liquidity crunch 2007-08-30 12:08:00 Thu, Aug 30 2007, 08:38 GMTby Benny MenasheThe market will open with Trichet’s speech and the clues regarding a September rate hikeEvent risk on Monday will be contained to US housing data, and the release may only exacerbate current risk aversion trends. The National Association of Realtor’s measure of existing home sales during the month of July is anticipated to have fallen back 0.9 percent to a nearly five-year low of 5.70M. Such a weak figure will not come as much of a shock to the markets, as the dour status of the US housing sector is well known, especially when it comes to the sub prime
mortgage crisis that has sparked
fears of a global liquidity crunch.While Friday’s significantly stronger-than-expected new home sales report for the same month spurred optimism that declining prices are finally bringing homes to a more affordable level, there are other factors to consider. First, new homes only represent a small portion of the housing market as whole, with existing home s
Forex market history 2007-07-30 18:23:00 An overview into the historical evolution of the foreign exchange marketThis article will follow the historical roots of the international currency trading from the days of the gold exchange, through the Bretton Woods Agreement, to its current setting.The Gold exchange period and the Bretton Woods Agreement.The Bretton Woods Agreement, established in 1944, fixed national currencies against the dollar, and set the dollar at a rate of USD 35 per ounce of gold. In 1967, a Chicago bank refused to make a loan in pound sterling to a college professor by the name of Milton Friedman because he had intended to use the funds to short the British currency. The bank's refusal to grant the loan was due to the Bretton Woods Agreement.This agreement aimed at establishing international monetary steadiness by preventing money from taking flight across countries, and curbing speculation in the international currencies. Prior to Bretton Woods, the gold exchange standard -- paramount between 1876 and Wor Read more:Forex
Forex Beginner Systems - A Step-By-Step Guide to Trading Profit 2007-07-30 09:02:00 Forex BeginnerSystems
- A Step-By-Step Guide
to Trading
ProfitBy Joe A WardThis forex beginner systems article is a comprehensive guide to the steps needed in devising a forex trading system as a beginner. Knowing which way to jump with all the information floating around can be a daunting proposition; so having a step-by-step guide by a successful experienced (and humble: lol) trader is obviously a great start. There aren't any in depth explanations here as the purpose is to highlight the areas which require further investigation, and in what order of importance. I have articles specific to each category on my website which I will link to at the bottom of the page. Anyhow, follow through with each of these steps and you will be well on the way to forex trading profit.The main steps are:1.) Get background information on what forex trading entails.2.) Learn how to manage risk and size positions correctly.3.) Find a strategy you are comfortable with.4.) Test your strategy.5.) Interpret Read more:Forex
Easy Forex - A World Leading Trading Platform 2007-07-30 06:28:00 Forex? What is it, anyway?The marketThe currency trading (FOREX) market is the biggest and fastest growing market on earth. Its daily turnover is more than 2.5 trillion dollars. The participants in this market are banks, organizations, investors and private individuals, just like you. (click here to read full market background by Easy-Forex™).The goods (merchandise)Markets are places to trade goods, and the same goes with FOREX. The Forex goods are the currencies of various countries. You buy Euro, paying with US dollars, or you sell Japanese Yens for Canadian dollars. That's all.How does one profit in Forex?Obviously, buy cheap and sell for more! The profit potential comes from the fluctuations (changes) in the currency exchange market.The nice thing about the FOREX market, is that regular daily fluctuations, say - around 1%, are multiplied by 100! (in general, Easy-Forex™ offers trading ratios from 1:50 to 1:200).How risky is Forex trading?You cannot lose more than your "margin" Read more:World
, Leading
, Forex
, Trading
, Platform
Blog Change. 2007-09-17 20:23:00 Hai, everyone. My new forex blog will replace this blog.Check it out my new blog.http://8-forex.blogspot.com Read more:Change
The Dollar slid to near a record low versus Euro 2007-09-11 19:12:00 The ECB's President Jean-Claude Trichet boosted the euro by saying "the credit losses in the region were not significant enough to materially impact the soundness of financial Institutions". He also indicated monetary policy was not restricting growThe dollar slid to near a record low versus
the euro on Tuesday as traders bet a slowing economy will prompt a Federal Reserve rate cut next week while the European Central Bank holds steady for some time. The ECB's President Jean-Claude Trichet boosted the euro by saying "the credit losses in the region were not significant enough to materially impact the soundness of financialInstitutions". He also indicated monetary policy was not restricting growth.The dollar has been falling recently as investors anticipate a Fed rate cut, which undermines the yield advantage of U.S. assets. Fed Chairman Ben Bernanke's speech in Berlin focused on global imbalances and did not change interest rateJean-Claude Trichet's comments were somewhat more supp Read more:Dollar
Weaker USD Pushes Majors, XAU and Crude Higher 2007-09-11 06:10:00 CURRENCY TRADING SUMMARY – 11 SEPTEMBER 2007 (00:30GMT)U.S. Dollar Trading (USD) the dollar eased once again on Monday following further expectations that the Fed will cut rates next week. Reactions were felt through out the session following last Fridays poor payrolls data in which demand for the USD continued to diminish. In U.S. share markets the NASDAQ was down 6.59 points (-0.26%) whilst the Dow Jones was slightly up by 14.47 points (0.11%). Crude
Oil was up by US$0.79 a barrel to US$77.49 on Monday.The Euro (EUR) gained support on growing expectations that the ECB interest rates will rise before year end, pushing it toward a one month high against the USD. Overall the EURUSD traded with a range of a low 1.3767 and a high of 1.3816 before closing the day at 1.3806 in the New York session. Looking ahead, EZ industrial production for the month of July will be made public with forecasts at 0.3% and the 3.1% for the m/m and y/y respectively.The Japanese Yen (JPY) held firm in a vola Read more:Higher
Recommend Site To A Friend
