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Author: admin_mm
January 302008
Russia May Stop Using Ruble to Fight Inflation
The Central Bank of the Russian Federation will probably stop intervening into the national currency market in order to strengthen the ruble against the U.S. dollar and hold down the growing inflation. This was stated by the Alexei Kudrin, Russian Minister of Finance, at the investment conference in Moscow today: In the coming three years we should move to an inflation targeting regime and a floating exchange […]
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January 302008
Forex Trading Edge New MetaTrader 4 Broker
Recently Iâve been contacted by the manager of Forex Trading Edge. Itâs quite a new Forex broker that started to operate near the end of 2007. Forex Trading Edge is the introducing broker for Forex.com broker. Usually I donât like to list the introducing brokers as the separate entities, but this one got my attention, because it offers a MetaTrader 4 platform, something that Forex.com is missing. Besides MT4, it also […]
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January 302008
Dollar Falls After FOMC Lowers Interest Rates
The main intrigue for today Forex trading session was the FOMCâs meeting at which the next interest rate should have been decided. As the most market participants expected FOMC lowered overnight interest rate in U.S. by 0.50% to 3.00%, farther widening the gap between U.S. and European interest rates. The decision was made under the pressure from the deepening crisis in the both housing and financial markets. EUR/USD jumped up by almost 100 pips […]
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January 292008
Forex Research Paper on Volatility, Spreads and Quotes Frequency
Now you can download a new free research paper related to the Forex market from the e-books section of my site. It is “The Interaction Between the Frequency of Market Quotes, Spread and Volatility in Forex” that was published in the Applied Economics journal more than 10 years ago. This paper researches the relations between volatility, spreads and the frequency of the new market data in the Forex. It can be considered outdated for the majority […]
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January 292008
Slight Strengthening of Dollar
Good fundamental macroeconomic data that was coming out today helped the U.S. dollar to fight back some of the pips, lost to euro yesterday. EUR/USD began this day at 1.4779, but now it hovers near the 1.4756 level. It’s not a big gain for the greenback, but it has a potential to continue the trend during the rest of the week. Durable goods orders in December unexpectedly rose by 5.2%, which is a lot […]
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January 292008
Reserve Bank of India Holds Interest Rates
The majority of Forex traders expected that the Reserve Bank of India will lower the main interest rates today to pare with recent emergency cut by the Fed and the anticipated additional interest cut at tomorrow Fedâs meeting. But Yaga Venugopal Reddy, Governor of the Reserve Bank of India, decided to leave the key interest rates at the same level. The main repurchase rate was kept at 7.75% â one of the highest rate level in near six years; […]
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January 292008
Singapore Dollar Rises Before Fed Cut
The Singapore dollar rose today during the Asian Forex trading session as the market analysts expected the Federal Reserve of U.S. to lower the interest rate at the next meeting, widening the rates difference for these two currencies. Fundamental data report on the U.S. housing which came out yesterday strengthened the confidence of the investors that Fed will have to cut its overnight interest rate by at least 50 basis points tomorrow. After the opening at 1.4204 […]
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January 272008
Support and Resistance MetaTrader Indicator
Enjoy the new MetaTrader indicator â Support and Resistance â ready to be downloaded from the indicators page. This indicator shows the dynamic support and resistance levels directly on the chart. It applies the levels to the certain periods that are treated as the trends or sub-trends. This indicator was originally developed by Barry Stander (http://myweb.absa.co.za/stander/4meta/), but I have received by e-mail from one of my reader â Muntazir Mehdi. So, thanks should go […]
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January 262008
Forex Technical Analysis for 01/2802/01 Week
EUR/USD trend: sell.GBP/USD trend: hold.USD/JPY trend: buy.EUR/JPY trend: hold. Floor Pivot Points: Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 98.3103 49.8734 98.3517 49.9148 98.3931 49.9562 98.4345 GBP/USD 1.8987 1.9162 1.9497 1.9672 2.0007 2.0182 2.0517 USD/JPY 102.27 103.62 105.18 106.53 108.09 109.44 111.00 EUR/JPY 145.84 148.98 152.84 155.98 […]
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January 262008
Dubai is Pro Dollar Peg
The government of Dubai, U.A.E. largest emirate, is against the currency revaluation and is pro dirham’s peg to the U.S. dollar, according to Sultan Ahmed bin Sulayem, the member of the Dubai’s Board of Executive Council. Kuwait, the only GCC state that dropped their long-lasting peg to dollar so far, remains alone in its ways […]
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