Breaking News
December 2
2007

Chinese Yuan Appreciation Hurried by Japan

Fukushiro Nukaga, Japanese Minister of Finance, joined the “league” of European and U.S. officials in their endeavor to convince Chinese government to take more definite actions aimed towards yuan’s free exchange rate. Yesterday Nukaga met with Chinese official, including Vice-premier of China Zeng Peiyan, to discuss economics, monetary policy and specifically China’s currency exchange rate […]

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December 2
2007

Carnival of Forex Trading — December 2, 2007

Welcome to the December 2, 2007 edition of Carnival of Forex Trading. ATradeADay presents What kind of trader are you? posted at A Trade A Day, saying, “Does your method have an edge? Are you a swing trader because it works? Or do you day trade because it sounds cool…” Sagar presents 7 Countries Considering Abandoning the US Dollar (and what it means) posted at Currency Trading.net. GiselleS presents […]

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December 1
2007

Forex Technical Analysis for 12/03—12/07 Week

EUR/USD trend: sell.GBP/USD trend: sell.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 1.4258 1.4443 1.4537 1.4722 1.4816 1.5001 1.5095 GBP/USD 2.0154 2.0343 2.0453 2.0642 2.0752 2.0941 2.1051 USD/JPY 104.52 105.87 108.53 109.88 112.54 113.89 116.55 EUR/JPY 155.66 157.51 160.13 161.98 […]

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December 1
2007

U.S. Dollar Rises on Bernanke’s Cut Signaling

U.S. dollar ended this week on a rising edge against euro, pound and yen after Fed‘s Chairman Ben Bernanke joined Donald Kohn in his hinting the markets, that next interest rates cut will be most probably made during FOMC‘s December 11 meeting. Bernanke spoke yesterday at the presentation of the Citizen of the Carolinas Award in Charlotte Chamber of Commerce, Charlotte, North Carolina. The main idea of his speech can […]

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November 30
2007

ECB Worries about Inflation Rising

October consumer prices inflation report added some new troubles for ECB to worry about as the released 2.6% CPI growth last month exceeded ECB’s target of 2.0%, while the economy growth is not performing at the pace that would allow another rate hike soon. Until September 2007 ECB had fought inflation with some success – […]

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November 30
2007

Fed Cut Talks Increase Confidence in High Risk Currencies

Recent talks by Federal Reserve Vice Chairman Donald Kohn about possible interest rates cut by the Fed added confidence to the Forex market traders that rely on buying risky currencies with the cheap low risk Japanese yen – so called carry traders. Worried by the high possibility of U.S. economy recession (stated by all major […]

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November 30
2007

FXcast Offers Corporate Accounts

FXcast Forex broker announced today that it is now starting to accept corporate Forex trading accounts, providing full array of required paperwork. A legal company trading account can allow some successful Forex traders to create managed pool accounts based on FXcast brokerage. So, if you think you are good at Forex trading and view yourself as an entrepreneur you can try opening your own […]

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November 30
2007

Another Day of Weak U.S. Statistics

Euro tried to regain some of its strong positions against U.S. dollar today after some new weak economical statistics regarding personal income and spending were released to the financial market traders. But after construction spending and very optimistic PMI reports were released dollar started to press on euro and EUR/USD returned to its daily open value. The most notable are the personal income and personal consumption expenditures (PCE) […]

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November 29
2007

Danger of Forex Reserves Change

Li Yang, an ex-adviser of the People’s Bank of China, suggests a great care in handling any changes to the country’s foreign currency reserves (world’s largest), that are currently composed mainly of U.S. dollars. By the Li’s words, it’s not reasonable to change the vast amount of current reserves, but the new income that goes […]

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November 29
2007

Russian Foreign Currency Reserves Continue to Grow

Foreign currency reserves of the Russian Federation grew up for the seventh week in a row and now are at their record high value — $459.6 billion. As the oil prices are surging to their new maximums the oil-exporting Russian economy wins greatly, increasing the profits of the country’s largest oil companies and supplying national currency reserves with new dollars. Russia has the third largest national reserves in the world, lagging behind China’s $1.4 trillion […]

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