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Dollar Retreats from Opening Gap Gain 2008-04-14 08:16:00 The U.S. dollar has retreated from its impressive gain on this week opening on the Forex market and is now trading inside its usual recent daily bearish trend against the euro and the Japanese yen. The G7 meeting’s officials noted the global situation with currency rates volatility and the necessity of the actions against the fast depreciation of some currencies and the fast appreciation of the other currencies. The presence of the currencies concern in the meeting conclusion spurred traders’ belief that the dollar may change its declining behavior on the currency market. The week opened with a significant gap in the dollar’s favor on the EUR/USD currency pair. While Friday ended at 1.5807 for EUR/USD, today the pair opened at 1.5704 — a 0.65% gap. The only reason for such a f Read more:Dollar
Chinese Yuan Closes Below 7 per Dollar 2008-04-14 08:13:00 The Chinese
yuan ended the domestic OTC trading session today below 7 yuan per U.S. dollar level — for the first time since the end of the peg to dollar in 2005. After USD/CNY closed at 7.0016 yesterday, the exchange rate of the Chinese currency went up today and traded in the 6.9930-6.9907 boundaries on the OTC Forex market. Since November 2007, China’s government is working to appreciate the yuan to keep down the rising national inflation. The People’s Bank of China set the central parity rate for the yuan at 6.9920 today against 7.0025 yesterday. That means a major break through the important psychological barrier for the dollar-yuan rate, which can open a way for the further possible depreciation of the U.S. dollar versus the Chinese currency. And the lower USD/CNY rate is very i Read more:Below
, Chinese Yuan
, Dollar
ForexGen Presents Fundamental Headlines 2008-04-14 07:30:00 • USDNZD – New Zealand retail sales fell 0.7% as rising food and energy costs sapped consumer spending power. The economy is slowing faster than policy makers had expected, when they raised rates to record levels, leading to calls for future rate cuts. For more news and resources, visit our New Zealand Dollar Currency Room. • GBPUSD – Prices at the factory gate rose 0.9% in March bringing the year-over year level to 6.2% -the highest since 1991. Discouraging for policy makers is prices rose in all ten measured categories led by energy. Therefore, The BoE may be hard pressed to continue cutting rates after their recent quarter point hike, unless growth levels continue to fall. Discuss the topic and your trade ideas in the GBP/USD Forum. • EURUSD – Eurozone in Read more:Fundamental
, Presents
Is the Dollar’s Recovery Here to Stay? 2008-04-14 07:24:00 The US dollar hit a record low against the Euro this morning and came within striking distance of 100 against the Japanese Yen. However the new round of selling did not last long as the dollar quickly recovered its losses. US economic data was weak with the trade deficit increasing more than expected. Although the recent weakness of the US dollar led many people to believe that the trade deficit would narrow, we warned in yesterday’s Daily Fundamentals that the deficit could expand because of the deterioration in manufacturing ISM. Jobless claims improved but the Easter Calendar effect makes the number distorting, particularly since continuing claims remain at very high levels. Even US Treasury Secretary Paulson admitted that the economy has turned down sharply. Unfortunately there is no Read more:Dollar
, Recovery
Market Today With ForexGen 2008-04-14 07:01:00 After gapping down more than 100 points on Sunday night following the change in the G7 Statement the EURUSD erased most of its losses on the back of some bargain hunting and better than expected EZ Industrial Production data. The battle in the currency market continues to revolve around two key themes- decoupling and spillover. Euro bulls have consistently claimed that the EZ economy has separated itself from the troubles in US allowing the ECB to remain staunchly hawkish. So far they have been completely correct and the unit has benefited greatly from its interest rate advantage over the greenback which continues to expand.
~u/forexgen Read more:Market
, Today
BoJ holds at 0.50% 2008-04-11 10:24:00 Usd was slightly weaker in Asian session global equities stayed negative and traders paired down high yielders and moved back into Jpy. Looks as if markets are poised for another bout of risk aversion as European stock futures are set to open below fair value and commodities deleveraged. The Fed minutes of March 18th provided no significant revelations which had added to uncertainty in the markets. However, it did come to light that Fisher and Plosser, the two dissenters, opposed the rate cut because "in light of heightened inflation risks, they favored easing policy less aggressively". We conjuctured this to mean that they were looking for a smaller cut rather then a hold. Overall the Feds focus still lies squarely on growth risks and futures rate decision will depend on the in Read more:holds
ForexGen Announced " GBP/USD: Sterling testing resistance" 2008-04-07 10:25:00 The Pound is testing resistance at 1.99, the Kshitij Consultancy Service Team, affirms: “Cable is now testing an important Resistance at 1.99 on the 4-hrly (21-SMA) and on the hourly chart (21-SMA). If it holds, a dip towards 1.9800-25 could be seen. Otherwise on a rise past 1.9900 we could see a test of 1.9970.” In case of success, the Kshitij Consultancy Service Team foresees: “Above that, 2.0014 is the Max High for the day.Supports are in the region of 1.9800-14, and 1.9760-75 below it. The Strongest Support is at 1.9720, which could possibly be tested on the day of the Interest rate decision.”
~u/forexgen Read more:Sterling
Paulson in China 2008-04-03 05:34:00 Usd continued its choppy trading pattern in Asian session regaining some of it loses to the Eur. Aud, Nzd and Cad performed well in line with stronger commodity prices and weaker Usd. Recently the greenback has been hightly reactive to the price of crude as well as shifting interest rate expectations. Currently the market is split between 25bp & 50bp cut. Whether this will represent the final cut to a dramatic easing cycle is still a moot question. We are currently leaning to a 50bp cut but could easily shift with the release of ISM – non manufacturing data and payrolls figures.Yesterday Bernanke testified to the Joint Economic Committee. He acknowledged that the economy "will not grow much, if at all, over the first half of 2008 and could even contract slightly" but steere Read more:China
, Paulson
ForexGen steady in asian seasion today 2008-04-03 05:06:00 Usd was firm in Asian session as the relief rally seen on Wall Street carried over to Asia equity markets. Market participants viewed the write downs by UBS and Deutsche as the start of a recovery process for the financial sector and gave risk appetite a lift. Commodity markets continued to slide as de-leveraging with gold remained on the the agenda of investors. Currently gold is trading around 890oz while crude, despite being afflicted by the de-leveraging, is still managing to hold above the important $100/bbl level. Overall the revival of global risk seeking environment has carry trades also outperforming. Markets will be focused on Fed Chairman Bernanke's congressional testimony today and Thursday. Today he still speaking on the economic outlook before the Joint Economic Com
UBS Sinks Risk Appetite 2008-04-03 04:59:00 ForexGen were steady in Asian session until late in the day when news of another financial institution in trouble sent traders looking for the exists. It was reported that UBS sought $15b in additional capital. Switzerland's largest bank, which is the European bank most afflicted by the mortgage crisis that began in the US, is poised to announce further losses of SFr8.2bn for the first-quarter. There is also an imbroglio as to how the bank might consider facing all its problems. There is a motion from a Swiss pension fund asking for a raise of SFr10bn in rights issue. the bank seeks on the other hand a broader resolution so as to maintain maximum flexibility. The pressure on Marcel Ospel, the bank's chairman, to resign has been mounting. He has always sought, however, to steer th Read more:Sinks
Quiet Open To Week 2008-04-03 04:54:00 ForexGen lacked motivation in a quiet Asian session. EurUsd bounced around 1.5761 -1.5817 levels while UsdJpy trended sharply upward from 98.82 to 100.18. Friday ended on a mixed note with stock markets weaker due to some weak US data (Michigan index) and energy and commodities price declined slightly. Over the weekend WSJ reported that Treasury Secretary Paulson would announce today "sweeping structural changes in the way the government monitors financial markets" giving the Fed broader authority to secure "market stability." While we are skeptical of giving the Fed such broad powers with very little oversight we are bracing for a resurgence of risk appetite and will be focused on short Jpy trades this week. On this theme the BoJ Tankan report Tuesday will be of interest. Listen Read more:Quiet
ForexGen Latest News (N.Korea Tests Missle) 2008-04-03 04:44:00 Usd was steady in Asian session as volumes were thin. Majors were range bound for most of the morning with a jolt of risk aversion as news of the latest missile test by North Korea
hit the market. Yesterday US data was broadly better then expected giving the Usd a temporary reprieve from selling. However we see this bullish sentiment to have a very short half life. US consumer consumption unexpectedly revised to 2.3% from 1.9% while inflation indicators eased moderately. Markets are still uncertain about how much of the US downbeat economic condition is already priced in to the Usd. However even if a large portion of weakness is already accounted for we believe that when traders will actually see the disturbing data which corresponds with a recession such as negative GDP or Wedne
Dollar Continues to Fall 2008-04-03 04:35:00 The dollars' weakness is still the subject of discussion amongst traders around the globe. The weakness of the greenback is as much the result of inherent weakness as to relative frailty when the US economy is compared to its European rivals and Asian rivals. Yesterday the euro advanced when the German business sentiment rose, undermining expectations of rate cut in the eurozone area. This news came in the heels of lackluster figure of US consumer confidence index. The news coming out of Europe reinforces the feeling that the ECB will stay resilient and not curb rates. The dollar was thus under pressure falling 0.7 per cent against the yen and the 1.5 per cent against the Swiss franc and the Australian dollar. The decline of the dollar is bound to continue as the figures of machi Read more:Dollar
ForexGen In European Session 2008-04-03 04:07:00 ForexGen were actively in European
session as a few discrete events had traders scrambling. First were the comments from BoE Governor Meryn King during MPC testimony to Treasury Select Committee who stated "[...] this is not an economy that has completely grounded to a halt but we are looking ahead and expect some slowing…." GbpUsd sold off as the market hurried to price in easing as early as April. Second was the German IFO which caught the market completely off guard. Most participants had risk slanted to the downside but that was not to be. German IFO Current Assessment printed up to 111.5 vs. 109.5 exp while hit Expectations 98.4 vs. 97.8 exp. With the economic engine of the Euro zone still humming along in light of an elevated Eur and slowing global demand this was clearly
ForexGen Announced That USD Euphoria Declines 2008-04-03 03:56:00 USD was weaker in Asian sessions as traders returned from Easter to question the greenback's euphoria of last week. Eurusd rose to 1.5573 and UsdJpy fell to 100.08. The Usd inability to rally, especially given the positive existing home sales which rebounded yesterday by 2.9% to 5,030,000 in Feb, is a harbinger of near term Usd weakness. Signs of global slowdown should offer some support to the USD, particularly as market have priced in a probability that other central banks might ease their rates in teh short term. This global easing cycle had been predicted at the start of 2008. However we still see further economic weakness and the possibility of real interest rate going negative in the US which would be a heavy burden for the dollar to bear. In the short term the Usd will be Read more:Euphoria
Market Brief 2008-04-03 03:51:00 Holiday ModeThe greenback was slightly weaker in Asian session. It looks like the Usd will close this week up for the first time in a month thanks to the Fed aggressive action. London and US markets are closed today for good Friday and this fact should keep trading subdued. The sudden shift in the Usd could be reflective of the change market sentiment toward Feds unorthodox approach to monetary policy and inevitable ECB easing. While being lengthened by the commodity markets sell off. But we don't believe traders should get so bullish on the greenback just yet. The US economy still has plenty of downside risk and we expect the Fed to move closer to 1.00% by mid year. Until this plays out we still see Usd weakness and EurUsd heading higher near term.
~u/forexgen Read more:Brief
, Market
The Markets Today With ForexGen 2008-04-03 03:34:00 Asian Session - Commodities Continue to Sell OffUsd was stronger in Asian session as the commodity sell off carried over from the US session. We don't see any fundamental drivers for this sudden weakness but the combination of Fed aggressive action stabilizing market confidence and the pure weight of trading position seem to be the most likely culprit. However the combination of steady yields and weakness in gold and other commodities could indicate a period of strength for the Usd. In addition should the Fed signal a reluctance to ease further we could be setting up for the second leg of the "Usd smile" theory.On the continent markets will be watching flash PMI to provide indication of the extent of the slowing down in economic growth in the eurozone. While feb composite rise wa Read more:Markets
, Today
Win at Forex Trading with ForexGen 2008-03-13 06:29:00 There is one problem that most forex traders fail to come to terms with and lose and its operating in an unstructured environment – this is the major underlying reason traders lose, so lets it explain it and its significance in more detail. In normal society we confirm to rules and laws they govern our lives and those of our fellow citizens, were used to them and we conform to them. When a forex trader trades, he has to operate in an unstructured environment and create his own rules to live and survive by. This sounds easy enough to achieve, however nothing could be further from the truth – it’s very hard and most traders simply can’t achieve it. Let’s take a closer look at the problems associated with operating in an unstructured environment. 1. Taking Responsibility For Y Read more:Forex
, Forex Trading
, Trading
Excellent Strategy with ForexGen 2008-03-13 06:24:00 Said to be one of the largest exchange market the Forex market is also gaining popularity. The possibility of earning large profits adds to the traders appeal. Although trading in this market is not easy, it can be, provided one understands the Forex trading system. Even a planned investment can many times take a wrong turn. The investor has a bad day even after planning his actions. Nevertheless, this is of little concern to the Forex trader. Every trader in the Forex market knows that to keep the losses at a minimum the trader will have to use the trading signals and this can be done only and when the trader uses the Forex trading system. In this way, he will learn to survive the volatile investment market and brave investing again. The Forex trade allows the traders to conduct their tr Read more:Strategy
Forex Trend Following with ForexGen 2008-03-13 06:20:00 The most lucrative form of trading is locking into and following long term trends in forex that can last for months or years. Most traders have no idea how to profit from forex trend following so we will show you how to do it in 5 simple steps. 1. Be Selective The first point to keep in mind is that the big trades don’t come around very often so you need to be patient and selective. You don’t get rewarded for trading frequently; you get rewarded for being right. You can trade less than a dozen times a year and make triple digit gains, if you pick the right trades. So don’t be tempted to get in the market for the sake of it be patient. 2. Watch Breakouts Forget buying low and selling high – most great trends start from new market highs and you have to be ready to buy these brea Read more:Following
, Forex
ForexGen Introduces Currency Market 2008-03-13 06:15:00 International currency market - Forex (from Foreign Exchange market) is the largest twenty-four-hour dynamically developing highly remunerative market in the world. The promising Margin Trading system is one of the most paying capital investing and business administering ways. Having originated in the 70-ies of the 20th century, it enabled a wide circle of progressive participants with not very big capitals to get income quickly by increasing the speed, turnover, number of deals and volume of trade. Trade with money for money and only for money (and these are the assets circulating on FoRex) has the lowest cost price of deals and the highest liquidity possible. Practically in seconds, at any time of day you can buy or sell at the market price any amount of currency essentially exceeding Read more:Currency
, Market
ForexGen's Mission 2008-03-13 06:11:00 ForexGen's mission is to provide an online Forex trading platform that allows clients to trade the Forex market easily and successfully. On top of dealing with forex .Our online trading platform is unique and traders wishing to buy and sell currencies, options and indices will find it very user-friendly. Whether the value of a currency pair goes up or down, traders may benefit from it. By using our forex trading platform, clients also have access to real-time prices of indices, gold, silver and options. Trading online with ForexGen is easy: clients can register to our platform in 3 easy steps, and within minutes, they have access to the largest financial market in the world - around $3 trillion in overall daily trade volume. Since Forex Trading practically never stops, the ForexGen Fo Read more:Mission
USD Is Stronger Today 2008-04-15 10:42:00 Usd was marginally stronger in Asian session however markets continued to discounted the G7 communiqué and stronger US Retail Sales. Asian equity markets continue to trade in the green and European equity futures look to open above fair value. A good sign for growing risk appetite and carry trades. ECB's Mersch commented yesterday that the ECB doesn't have much room to cut rates this year. Mercsch's statement was unexpectedly hawkish in comparison to Trichet increased emphasis on growth risks last week. This punctuates the fact that the ECB is still very much committed to price stability ahead of growth concerns. We expect the Eur to stay supported in the near term and will be looking for a test of 1.5910. In Europe markets will be focused on the German Zew survey which shoul Read more:Today
EUR/GBP Reaches New Absolute Maximum 2008-04-15 07:23:00 Great Britain pound fell down to a new absolute minimum level against the euro today as the fresh economic data from U.K. signaled that the output growth will probably slow down significantly. The survey by the Royal Institution of Chartered Surveyors showed that more than at any time since 1978 (the year when they started to collect this data) of its members are reporting lower prices. The British Retail Consortium also reported that the retail sales in U.K. decreased in March by 1.6% — for the first time in two years, signaling that a weakness in the consumer sector of the economy is accompanying the housing market slump. EUR/GBP rose from 0.8010 to 0.8041 as of 9:02 GMT today on Forex. Its daily maximum was reached at 0.8063 before retracing to its current rate.
~u/forexgen Read more:Absolute
, Maximum
Yen Weakening against Euro, Pound 2008-04-17 09:58:00 The Japanese yen continued its fall against
the high yielding currencies today, especially against a very strong bullish euro, and reached 3-month minimum value against it, as the stock market rallies spurred carry trade popularity on Forex. The yen dropped also against the New Zealand and Australian dollars because of their high interest rate, which makes them the perfect counterparts for the so called carry trade versus the Japanese yen. In carry trade Forex traders sell low interest currencies for high interest one in order to gain on the overnight rate difference. Carry trade has been becoming less popular since the Autumn 2007, when the subprime lending crisis in U.S. increased the global financial volatility. But these days, with the global stock markets looking more and more stable, Read more:Pound
Inflation Watch 2008-04-16 11:39:00 Usd lost ground in Asian Session after the greenback rallied on the back of stronger empire manufacturing survey. Speculation has been growing all morning that US CPI will print higher than market expectations. however it was the German inflation figures which stole the show and stayed elevated giving the Eur a swift bounce. EurUsd surged from 1.5800 to 1.5845 and GbpUsd jumped from 1.9620 to 1.9888. Additional European inflation figures should keep the Usd pinned until mid session and as the market adjusts to the incoming US data. Despite the RBA minutes which showed that the Central bank is clearly in a neutral bias the Aud was able to gain ground on both the Usd and Jpy. While the Aud is poised to experience weakness in the mid term, currently commodity prices (crude $114.00 Read more:Inflation
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