Breaking News
January 31
2008

U.S. Dollar Regains Positions on Mixed Fundamentals

Today, EUR/USD lost a small part of the pips that were gained yesterday after the Fed’s interest rate cut by 0.50%. Even the bad employment statistics didn’t prevent dollar from recovering from 1.4860 to 1.4814 against European currency. This can be also partially explained by the major resistance level that has formed near 1.4870 rate on EUR/USD. Personal income in December rose by 0.5% — better than […]

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January 31
2008

Bahrain, Kuwait, Saudi Arabia Cut Interest Rates

GCC states — Bahrain, Kuwait and Saudi Arabia — decided to cut their deposit rates from 3.50% to 3.00% today, following the yesterday’s interest rate cut by the Federal Reserve. Based on the risk estimations for the economy recession and the recent negative macroeconomic statistics, FOMC cut the rate at its scheduled meeting yesterday from […]

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January 30
2008

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 30
2008

Forex Trading Edge — New MetaTrader 4 Broker

Recently I’ve been contacted by the manager of Forex Trading Edge. It’s 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 don’t 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 30
2008

Dollar Falls After FOMC Lowers Interest Rates

The main intrigue for today Forex trading session was the FOMC’s 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 29
2008

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 29
2008

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 29
2008

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 Fed’s 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% — one of the highest rate level in near six years; […]

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January 29
2008

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 27
2008

Support and Resistance MetaTrader Indicator

Enjoy the new MetaTrader indicator — Support and Resistance — 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 — Muntazir Mehdi. So, thanks should go […]

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