Greenback Slides Ahead of FOMC by Korman Tam

The euro bounced off its lows against the dollar around the 1.46-figure, to recover near the 1.4650-mark while the sterling rebounded above the 1.63-level at the start of the week. Economic data will remain in focus in the coming week with key reports due out from the US, Eurozone, UK, Canada and Japan. The major global equity bourses were marginally higher on the session, while spot gold edged up slightly from its one-month lows near $1,125 per ounce and crude oil slipped beneath the $70-per barrel mark.

FX Snaps out of Range, USD Breaks Higher by Korman Tam

he dollar advanced sharply across the boarding, rallying to 1.4306 against the euro, 1.6082 versus the sterling and 90.34 against the yen. The greenback benefited from continued risk aversion in the global equity bourses as markets digest the prospects for interest rate hikes from the central banks. The Dow Jones, S&P 500 and Nasdaq were all lower by around 1% in the Thursday session. 

Weekly jobless claims were higher than estimated at 480k up from 474k a week earlier. The November leading indicators index edged out consensus forecasts, rising to 0.9% versus 0.3% from October. The Philadelphia Fed business survey improved sharply, beating calls for a decline to 16.0, instead jumping to 20.4 from 16.7 in November. 

USD Bounces Higher, GBP Slumps by Korman Tam

The dollar edged higher against the majors in the Tuesday session, advancing to its highest level since September versus the euro at 1.4216 and a two-month high against the British pound at 1.5920. A barrage of economic reports were released from the US including Q3 GDP, October home prices, November existing home sales, and the December Richmond Fed survey.

Economic growth in the US slowed in the third quarter with GDP downwardly revised to 2.2% from the previous reading of 2.8%. The Q3 GDP deflator was lower at 0.4% from 0.5% previously and PCE prices slipped to 2.6% from 2.7%. Third quarter corporate profits were also downwardly revised to 12.7% compared with 13.4% previously. The key highlight in the data was a strong surge in November existing home sales, which spiked up to 7.4% -- far outpacing estimates for a decline to 2.9% and improving to 6.54 million units. The October home price index improved to 0.6% on a monthly basis and declined by 1.9% on an annualized basis. Meanwhile, the Richmond Fed composite index deteriorated to -4 in December versus a 1.0 reading in the previous month while the services index worsened to -9 from -7. 

Dollar Slides vs Major FX by Korman Tam

The dollar was broadly lower against the major currencies in the first trading day of 2010, relinquishing the 1.44-level versus the euro and sliding to 1.0374 against the Canadian dollar. Crude oil popped back above the $80 per barrel level while the global equity bourses advanced in the Monday session as traders shifted back into riskier assets. The Dow Jones, Nasdaq and S&P 500 were all higher by over 1.5% by afternoon.

The economic calendar was light today, with the release of the December manufacturing ISM report. The data improved by more than expected, edging up to 55.9 and beating calls for an increase to 54.0 from 53.6 in November. The ISM prices paid component jumped to 61.5 versus 55.0 in the previous month. 

China Tightens Policy, JPY Gains by Korman Tam

The dollar was lower against the majors in the Tuesday session, sliding to 90.73 against the yen and to just shy of the 1.62-level versus the British pound. The global equity bourses also slumped, with the S&P500 and Nasdaq lower by over 1% while Dow Jones slipped by around 0.7% in afternoon trading. Meanwhile, spot gold was down by nearly 2% to $1,129.60 per ounce and WTI crude oil slipped by around 2.3% to $80.65 per barrel.

The economic calendar from the US was light, with just the release of the November trade deficit. The US deficit was slightly less than expected at $33.2 billion, versus a revised $32.9 billion from October. The data for the latter part of the week will include on Thursday: December retail sales, weekly jobless claims, November business inventories and on Friday: December real earnings, core CPI, CPI, industrial production, capacity utilization, January NY Fed manufacturing index, and the University of Michigan consumer confidence survey.

Daily trading- theres no no spoon for u.

Some people are asking me about the secret of daily trading. The answer is there is no secret. It is there for everyone to see but the question is, can you accept what you see.

Trading the daily chart requires patience, lots of it. That is what most of us lack. Patience. If you look at the longer timeframe charts, you will see that price will stop or hover around certain areas. That is your key point. Always start or stop trading around these key point.

The next indicator I use is CCI. CCI alone is a bit of a headache. So I smooth it out with MA. With the MA, I can see the direction of trade clearly. People say MA is a lagging indicator but I dont want to be early going to a party. I like to enter when the party already started.

World s cheapest car to cost a fortune

NEW DELHI: It was touted as the world s cheapest car at 2,000-dollars apiece, but a new version of the snub-nosed Tata Nano will be available soon at a price closer to that of a top-end Ferrari or Porsche. Mumbai-based firm D C Design says it is refitting the 3.1-metre (10.23 feet) five-seater hatchback, doing away with its plastic seat coverings, small wheels and single-dial dashboard. The car s basic silhouette will be retained, but everything else will go in the new 220,000-dollar bespoke models that will have a top speed of 200 kilometres (124 miles) an hour, 

Govt committee proposes ban on yarn export

ISLAMABAD: An inter-ministerial committee on yarn is said to have recommended imposition of a ban on yarn export in an attempt to provide relief for the downstream industry of the textile sector, The News has learnt.

Unbleivable plagues every angle of USD

The problem that the US has with consistent signs of recovery came through on Monday as two separate reports showing two totally different things were released. 

While the manufacturing report showed a steady increase in US production, a clearly positive sign that indicates some semblance of growth, however any bounce that the Dollar took off of this was stifled by a housing report which showed that prices have now fallen – at least in November/December – to the lowest level in years.

The continued duality of this mythical recovery is affecting Forex traders and their ability to adequately trade in any of the USD related pairs. The issue here is misinformation, not necessarily by news organizations, but by the government agencies and private parties that comprise the “independent” review boards for various sectors. 

Take the employment numbers for example; ADP which is the largest payroll processor in the US comes out with a report, usually on Wednesdays, that shows the total number of people that they processed payroll for each week. a

Euro / Dollar Technical Forex Analysis for Forex Traders

Although it surpassed 1.4410, the Euro was unable to maintain its gains, and gave them up, returning to 1.43, where there is a critical support at 1.4308. The price reached 1.4304 before bouncing more than 50 pips until this moment.

Anothe forex analysis :USD / JPY Technical Forex Analysis

The Dollar-Yen broke the resistance area that caught our attention 92.31-92.52. Short-term resistance is provided by the falling trend line from yesterday’s high, currently at 92.50. And if this area is broken, the Dollar will take off, towards March 19th low 93.53, with a possibility to stop at 93.08, where there is a resistance that cannot be ignored.
On the other hand, if the price fails to capitalize on the break of 92.31-92.52, a drop towards 91.30 where the rising trend line from 84.81, will follow. And if this level is broken, the price will drop towards the important 90.30, the most important support for the time being.
Support:
• 91.85: the moving average SMA100 on the hourly chart.

Euro / Dollar Analysis for Forex Traders

The Euro fluctuated, breaking 1.4308 first, then breaking 1.4380 and flying above 1.44. And as we can see, the price is currently trading inside a falling channel on the hourly chart, with the top of the channel at 1.4449.

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Rule the forex business with forex rule over

Most deals in Forex are done as Spot deals. Spot deals are nearly always due for settlement two business days day later. This is referred to as the "Value date or delivery date. On that date the counterparties take delivery of the currency they have sold or bought. In Spot FX the majority of the time the end of the business day is 21:59 (London time). Any position still open at this time are automatically rolled over to the next business day, which again finishes at 21:59. This is necessary to avoid the actual delivery of the currency. As Spot Forex is predominantly speculative most of the time the traders never wish to actually take delivery of the actual currency. They will instruct the brokerage to always rollover their position. Many of the brokers do this automatically unless you instruct him that you actually want delivery of the currency. Another point noting is that most leveraged accounts are unable to actual deliver of the currency as there is insufficient capital there to cover the transaction.
Remember that if you are trading on margin, you have in effect got a loan from your broker for the amount you are trading. If you had a 1.0 lot position your broker has advanced you the $ 100,000 even though you did not actually have $ 100,000. The broker will normally charge you the interest differential between the two currencies if you rollover your position. This normally only happens if you rolled over the position and not if you open and close the position within the same business day. If the first named currency has an overnight interest rate lower than the second currency then you will pay that interest differential if you bought that currency. If the first named currency has a higher interest rate than the second currency then you will gain the interest differential.

Indicates yourself with forex business key indicators

Economic indicators include various indices, earnings reports, and economic summaries, such as unemployment, housing starts, Consumer Price Index (a measure for inflation), industrial production, bankruptcies, Gross Domestic Product, retail sales, stock market prices, and money supply changes. Economic indicators are primarily studied in a branch of macroeconomics called "business cycles". The leading business cycle dating committee in the United States of America is the National Bureau of Economic Research.

The Bureau of Labor Statistics is the principal fact-finding agency for the U.S. government in the field of labor economics and statistics. 

Financial geek

05/01/2010 07:40
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'Thank You My Teacher' festivity held in Kuwait
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25% increase on Saudia tickets bought abroad
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Armani Hote Dubai to open on March 18
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Abu Dhabi's public school teachers become ADEC employees
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quotes need to be readable for forex business

The rates are usually expressed as five-digit numbers. For example, USDJPY = 121.44 means that 1 US dollar is valued at 121.44 Japanese yens (i.e. they are willing to pay you that many yens for one US dollar while you are buying or selling). At the same time, GBPUSD = 1.6262 means that 1 British pound is valued at 1.6262 US dollars. Generally, if the rate XXXYYY = Z, it means that one unit of XXX is worth Z units of YYY.

When the rate has changed, for example USDJPY = 121.44 to USDJPY = 121.45 or GBPUSD = 1.6262 to 1.6263, they say that the rate has moved 1 point. As it follows from the information above, yen in this example has DEPRECIATED by 1 point, but the pound has APPRECIATED, also by 1 point.
While watching the charts, you should keep in mind that only euro (EURUSD), British pound (GBPUSD) and Australian dollar (AUDUSD) charts reflect real movements of the rates of these currencies (that is, chart going up, means increasing price), as growth (that is, charts moving up) mean decreasing rates (prices) for the other currencies.