Breaking News
December 21
2008

Ecuador to Continue Using U.S. Dollar

The President of the Republic of Ecuador, Rafael Correa, said yesterday that the U.S. dollar will remain as the country’s main currency as the economic crisis offers harsh times for the Ecuadorian financial system. Since January 2000 Ecuador uses the U.S. dollar as the national currency as one of the means to enhance the economic situation in the country. The ongoing crisis adds pressure on the oil-exporting […]

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December 20
2008

Forex Technical Analysis for 12/22—12/26 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: sell. EUR/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3296 1.3343 1.3625 1.3672 1.3954 1.4001 1.4283 GBP/USD 1.5005 1.4908 1.4917 1.4820 1.4829 1.4732 1.4741 USD/JPY 82.98 85.05 87.19 89.26 91.40 93.47 95.61 EUR/JPY 110.88 […]

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December 20
2008

Admiral Markets — MetaTrader Broker since 2002

Admiral Markets is a MetaTrader Forex broker with additional options for CFD and futures trading that is present on-line since 2002. Although it claims to be based in the United Kingdom, they don’t list any U.K. office address and they are not regulated by Britain’s FSA. The offices in many other countries are listed. The convenience of the Admiral Markets is not limited to the MT4 trading platform and extends […]

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December 19
2008

FX|Clearing — Canadian Forex Broker not for Canadians

FX|Clearing is a MetaTrader Forex broker based and registered in Canada. It’s offering its services on-line since 2007. The broker offers very competitive conditions for the mini- and micro-Forex trading with the high levels of leverage, 1 pip spreads and no-swap policy for such accounts. The accepted payment methods include Moneybookers, PayPal and wire transfer, while the minimum accounts size is $10. […]

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December 19
2008

Japan Slashes Rates, Yen Grows

The yen advanced against all other major currencies today after the Bank of Japan announced a rate cut to a near-zero level and the investors ran from the risky assets into the Japanese and U.S. currencies. The Bank of Japan reduced the target overnight rate from 0.3 percent to 0.1 percent at its meeting on December 19 and said that it will use the additional liquidity to help […]

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December 18
2008

EUR/USD Breaks Through September Highs above 1.47

EUR/USD continued to go up today, posting the biggest weekly gain in its history — and it’s only Thursday today! The fundamental indicators from U.S. were mixed today, but the euro is probably still affected by the recent Fed interest rate cut. EUR/USD is currently trading near 1.4444 after reaching the highest level since September 25 at 1.4719. Initial jobless claims declined last week from 575k (revised […]

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December 18
2008

Yen Down on Intervention Concerns

The Japanese yen posted its first daily drop against the U.S. dollar after 5 days of gains as the Japan’s Finance Minister said that the currency intervention will be used if needed to keep the yen from the excessive appreciating. Finance Minister Shōichi Nakagawa said today that the Bank of Japan will use the currency intervention for the first time in the last four […]

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December 17
2008

Aussie Reaches 2-Month High versus Dollar

The Australian dollar rose slightly against the U.S. dollar and reached a new 2-month high level today as the dollar still suffers from the near zero interest rates set yesterday by the Federal Open Market Committee. The Australian currency rallied by the most since October after the Fed announced the rate cut yesterday and the global stock markets reacted […]

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December 17
2008

Forex and Oil — EUR/USD Peaks Above 1.44

Today the oil was in the focus of many currency traders as the extraordinary OPEC meeting in Oran, Algeria, was deciding the oil output cut and also the U. S. Energy Information Administration reported its weekly data on the commercial crude oil and distillate inventories. The oil traded with the elevated volatility — a small drop on the NYMEX Crude Future, and the small gains […]

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December 16
2008

Chilean Peso Strengthens on Dollar Weakness

The Chilean currency appreciated to its monthly high against the U.S. dollar yesterday, as the greenback experienced a downfall against the high-yielding currencies and the peso performed better than the other regional currencies. Yesterday’s growth of EUR/USD and GBP/USD allowed some of the emerging markets’ currencies to restore some of their value against the dollar. The Chilean peso was among such currencies and, […]

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