Breaking News
May 5
2008

Euro Rose on Support of ECB Rates

The euro rose today during the early Forex trading session, as the European politicians changed their mind on the ECB interest rate policy and traders became more confident that Jean-Claude Trichet won’t reduce the rates this week. The ECB used its every recent statement to convince the market participants that the inflation is a bank’s primary concern and that it won’t go for lower rates […]

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May 4
2008

Japan, South Korea and China to Create Foreign Reserve Pool

According to the Finance Minister of Japan, Fukushiro Nukaga, Japan, South Korea and China are in the process of creating the mutual pool of $80 billion foreign currency reserves in order to protect the Asian financial markets in case of a speculative attacks. Other Asian countries will also participate in this fund, but the major part (around 80%) will be contributed by Japan, South Korea and China. While the […]

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May 4
2008

MasterForex — MetaTrader 4 Forex Broker

MasterForex existed on-line since 2006, but being very similar to other MT4 Forex brokers it has never received such traders’ community attention as their competitors (e.g. LiteForex or FXOpen). As its rivals MasterForex accepts WebMoney, e-gold and wire transfer for deposit/withdraw operations, trading from $1, MT4 platform, CFD trading and a flexible leverage. Unfortunately, like many other MetaTrader brokers it’s not registered with NFA, […]

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May 3
2008

Forex Technical Analysis for 05/05—05/09 Week

EUR/USD trend: sell. GBP/USD trend: hold. USD/JPY trend: buy. EUR/JPY trend: buy. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4957 1.5159 1.5290 1.5492 1.5623 1.5825 1.5956 GBP/USD 1.9229 1.9426 1.9571 1.9768 1.9913 2.0110 2.0255 USD/JPY 101.35 102.29 103.83 104.77 106.31 107.25 108.79 EUR/JPY 157.52 […]

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May 2
2008

Kuwait: GCC to Abandon Dollar

Kuwaiti Finance Minister has said that the Gulf Cooperation Council countries, U.A.E., Qatar and Bahrain specifically, are planning to scrap their currencies’ peg to dollar soon. Mustafa Al Shimali is confident that other Middle Eastern countries will be doing what Kuwait has done in May 2007. Recently financial officials from the United Arab Emirates stated that depegging is not in the country’s interest, while […]

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May 2
2008

NorthFinance and WestCapFX Endorse FxPro

NorthFinance and WestCapFX recently stopped accepting new Forex trader registrations and are now officially redirecting new members to a very new but employing an aggressive marketing strategy Forex broker — FxPro. It looks like the company behind NorthFinance and WestCapFX decided that it would be better to consolidate their business and offer one «universally good» broker rather than two different decisions for two […]

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May 2
2008

EUR/USD at Monthly Low on Nonfarm Payrolls

EUR/USD broke down through 1.5400 mark today and reached the minimum level since the 24th of March as the employment fundamentals showed some improvement compared to the March results. Dollar managed to strengthen also against pound and yen even with objectively bad macroeconomic results. Nonfarm payrolls — one of the main indicators of the U.S. economy’s health decreased 20k in April. That’s a lot better than the […]

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May 2
2008

Yen Falls for Second Day as Stocks Bloom

Today the yen fell for the second day in a row on Forex as the stock markets rallied and the traders looked for the more high-yielding assets, selling the Japanese currency for dollar and other risky currencies. Although, the U.S. dollar is also heading for the second weekly gain against the Japanese yen, JPY declined mostly against such carry trade […]

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May 1
2008

Jobs and Income Fall in United States

May Day resulted in some unexpectedly bad fundamental data releases from the United States. Labor market, income, spendings, construction and manufacturing were covered in today’s reports and none of them showed something optimistic for the dollar bulls; nevertheless EUR/USD was down today and the dollar managed to show some unfounded strength on the Forex market. Initial jobless claims rose up from 345k […]

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April 30
2008

FOMC Reduces Rate, Hopes for Better

The Federal Reserve lowered the federal funds rate from 2.25% to 2% today during the scheduled meeting of the Federal Open Market Committee, saying that the current measures may be enough to remove the risks. As the majority of the traders expected, FOMC reduced the interest rate for the U.S. financial market by 25 basis points and signaled that, although the current situation on the […]

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