Breaking News
February 28
2008

Dollar Still Near Record Lows

The dollar is still trading near its record low value against the euro today, but it has managed to recover somewhat from the yesterday’s fall after the oil prices corrected on the increased oil inventories in U.S. Fed chairman Ben Bernanke’s testimony to the U.S. congress showed that there are possibilities for the housing and employment markets to weaken even further and that the risks for the financial markets and banking sector still remain high. This testimony added […]

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February 27
2008

EUR/USD Breaks Records as Dollar Falls Deep

Today EUR/USD reached its new historical maximum at 1.5105 as the dollar continued to weaken both on the rates cut expectations and later — bad macroeconomic data releases in U.S. Durable goods orders — a very important indicator of the business’s health — decreased 5.0% in January, more than the expected drop of 0.4%. New home sales in January fell to 588,000 annualized rate — below the December’s 605,000 and forecasted January value of 600,000. Crude oil inventories […]

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February 27
2008

MT4 Brokers Accused in Being Scam?

It started eleven days ago on the ForexFactory forum, but I’ve read it first about a week ago on a TalkGold forum’s thread titled “Mt4 Brokers Are All Scam Brokers By Definition”. Of course, I’ve got interested in this topic because I’ve been trading on MetaTrader brokers’ accounts for almost two years and I have never thought of them being a scam “by definition”. That made me read both of the threads thoroughly. Here is the main […]

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February 27
2008

Euro above 1.5 vs. Dollar

The U.S. dollar fell below its absolute record low level against the European currency today. If the day closes above $1.5 per euro, it will be a signal for a definite return of dollar to its bearish trend of the 2007. EUR/USD broke through the major 1.5000 resistance at the beginning of the Asian trading session today, but then the currency pair retraced back below the 1.5000 mark […]

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February 26
2008

Consumer Confidence in U.S. Sinks Dollar

Today dollar continued its bearish trend against euro and pound, sliding down significantly after the consumer confidence release. Both EUR/USD and GBP/USD were going for correction after the better than expected PPI report, but started to return to their earlier positions in shortly after the Conference Board’s release. Producer Price Index (PPI) gained 1.0% in February — a significant value for a one […]

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February 26
2008

Rupee Grows for Second Day

Indian rupee continued to advance in value during today’s Forex trading session as the investors bought local currency to participate in the Indian stock market’s rally. The Asian financial markets continued to grow today attracting more traders and spurring the growth of the regional currencies. Rupee also benefits from the tightening monetary policy in U.S. combined with the high interest rates on Indian government bonds. This […]

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February 25
2008

Kiwi and Aussie Rise on Demand for High-Yielders

New Zealand dollar reached the two months high level against the Japanese yen and almost broke the more than 6 months record high level against the U.S. dollar today. Aussie also showed a similar dynamic of growth — it came close to the 2 months old records against yen and reached its highest value against the U.S. dollar since November 2007. Despite […]

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February 23
2008

Forex Technical Analysis for 02/25—02/29 Week

EUR/USD trend: hold. GBP/USD trend: hold. USD/JPY trend: hold. EUR/JPY trend: hold. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.4421 1.4515 1.4673 1.4767 1.4925 1.5019 1.5177 GBP/USD 1.9104 1.9233 1.9450 1.9579 1.9796 1.9925 2.0142 USD/JPY 104.84 105.78 106.47 107.41 108.10 109.04 109.73 EUR/JPY 156.02 […]

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February 22
2008

Appreciation of Yuan Keeps CPI Down

The People’s Bank of China released a monetary policy report for the fourth quarter of 2007 today. In this report, Chinese monetary authorities noted that the yuan’s appreciation really helps in fighting the national inflation. Consumer prices index grew significantly last year, breaking a decade old records on inflation. Although, strong yuan helped to keep inflation from accelerating, CPI was still at a high level by the end of 2007 and […]

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February 22
2008

Citigroup Launches Retail Forex Broker

Citigroup introduced a new retail Forex broker this year — CitiFX. I uploaded the information related to this broker on my site today. CitiFX uses the trading platform made by Saxo Bank. There are no mini Forex accounts available and the minimum deposit is also very high — $10,000. Leverage is lower than in majority of other broker — 1:50 and 1:25 on some pairs. Demo accounts are available for free. This […]

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