FXstreet.com

Pound moving in a 30 pips range for the past 8 hours

FXstreet.com — Wed, 25 Nov 2009 00:09:00 GMT

FXstreet.com (Buenos Aires) – GBP/USD Current Price: 1.6580. Moving in a 30 pips range for the past 8 hours, hourly indicators had turned flat, while 4 hours ones show pair has lost upside strength; despite current candle opening above 20 SMA in the 3 hours charts, the slope remains bearish, suggesting upside will remain limited for next hours.

Resistances come at 1.6620 static level and 1.6660, 50% retracement of last daily fall. “Clearly above that level, pair could regain upside momentum, while under 1.6480 past Tuesday low, 1.6450 area will be next support to consider,” said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.6550 1.6520 1.6480. Resistance levels: 1.6585 1.6620 1.6660.

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USD/JPY still under 88.60 resistance

FXstreet.com — Wed, 25 Nov 2009 00:04:00 GMT

FXstreet.com (Buenos Aires) – USD/JPY Current Price: 88.55. Still under 88.60 resistance area pair has turned slightly bullish in the hourly chart, pointing for some upside short correction in the hourly chart. Printing lower lows, general bias remains bearish for the pair, as long as under daily descendant trend line, today at 89.40.

4 hours charts also show some signs of downside exhaustion at current levels, supporting the bias for current session.
“Under 88.32, past Tuesday low, expect pair to resume downtrend,” said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 88.35 88.00 87.60. Resistance levels: 88.65 89.00 89.40.
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EUR/USD Current Price: 1.4956

FXstreet.com — Wed, 25 Nov 2009 00:00:00 GMT

FXstreet.com (Buenos Aires) – EUR/USD Current Price: 1.4956. Slightly bearish in the hourly chart, pair remains trading in ranges, with no clear bias coming from indicators, as most moving averages had turned flat, as well as in bigger time frames. Asian shares likely to extend past sessions falls after Wall Street negative close, yet pair will probably remain attached to gold behavior rather than stocks.

“Under 1.4880 yesterday’s low, expect some downside acceleration as hourly indicators show no upside strength,” said Valeria Bednarik, collaborator at FXstreet.com. Clear break and confirmation above 1.5000/20 area is needed to break the consolidative range to the upside, yet not seen at this point

Support levels: 1.4930 1.4900 1.4880. Resistance levels: 1.4980 1.5020 1.5060.
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Currency Majors Technical Perspective

analyst@fxstreet.com (FXstreet.com Independent Analyst Team) — Tue, 24 Nov 2009 23:46:36 GMT

EUR/USD Current price: 1.4956 Slightly bearish in the hourly chart, pair remains trading in ranges, with no clear bias coming from indicators, as most moving averages had turned flat, as well as in bigger time frames. Asian shares likely to extend past sessions falls after Wall Street negative close, yet pair will probably remain attached to gold behavior rather than stocks. Under 1.4880 yesterday’s low, expect some downside acceleration as hourly indicators show no upside strength. Clear

US GDP Revised Lower, Stocks and Commodities Down

trading@cmsfx.com (CMS Forex) — Tue, 24 Nov 2009 23:40:01 GMT

Forex: Thin range trade extends to Asia

FXstreet.com — Tue, 24 Nov 2009 23:32:00 GMT

FXstreet.com (Buenos Aires) – Asian session started as American one closed: with major crosses showing lack of direction inside past weeks range. FOMC Minutes failed to trigger market movements, as Fed add no much more to past statements. Ahead of next Thursday Thanksgiving holiday in the U.S., market likely to remain under same conditions during next sessions. Meanwhile local stocks markets had some negative lead coming from Wall Street.

EUR/USD quotes at 1.4960, trading between 1.4930/80 since late Europe; pair has been unable to break above the 1.5000/20 area for the past two weeks, being that the strong roof of the range, while to the downside, 1.4800 is the base.

GBP/USD continues trading under 1.6600, yet above 1.6550 support zone. Pound has suffered early Europe after BOE’s Governor Mervyn King said the central bank will raise the benchmark interest rate and sell assets purchased during its emergency plan over a two to three-year period, yet also opening doors for further quantitative easing.
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US: FOMC: Keeping all exit options open

danskeresearch@danskebank.com (Danske Bank A/S) — Tue, 24 Nov 2009 23:03:31 GMT

Large scale repos, a term deposit facility and possibly asset sales are the tools available to reduce excess liquidity when the time comes. Upward revisions to GDP growth in 2009 and 2010, downward revisions to unemployment rates and only minor revisions to the inflation forecast. No change in policy outlook. Fed on hold for the foreseeable future. Details The committee discussed its exit strategy further, particularly the possibility of using large scale reverse repos and a term deposit

Minutes of November 3-4 FOMC Meeting – Spots of Optimism are Visible, Concerns about Dollar, Commercial Real Estate Loans, and Low Interest Rates are Noticeable

webmaster@ntrs.com (Northern Trust) — Tue, 24 Nov 2009 22:45:26 GMT

Minutes of November 3-4 FOMC Meeting – Spots of Optimism are Visible, Concerns about Dollar, Commercial Real Estate Loans, and Low Interest Rates are Noticeable Forecasts of real GDP, inflation, and unemployment for 2009-2011 shows small changes from the June projections (see table 1). The employment report for October was published after the FOMC meeting. The unemployment rate in October was reported as 10.2% (9.8% in September and 9.4% in May), which is higher than the top of the range of

Chart AUD/USD Update: Momentum still dwindling

analysis@fxmarketalerts.com (FXMarketAlerts) — Tue, 24 Nov 2009 22:27:00 GMT

Published at 19:56 (GMT) 24 Nov

Forex: Dollar ends mix on Tuesday; Yen higher

FXstreet.com — Tue, 24 Nov 2009 22:25:00 GMT

FXstreet.com (Córdoba) – Greenback rose sharply across the board during the Asian session but then lost momentum and lost most of the gains. Dollar rose against Cable and currencies tied to commodities and still moves in ranges against the Euro and the Swiss Franc. The Yen rose to a 6-week high to the Dollar and tested key support levels against European currencies.

Stocks fell worldwide and treasuries rally helping the safe heaven currencies. The Yen was the best performer among major and rose across the board. USD/JPY consolidated below 89.00 and broke below the support at 88.55, suggesting that the pair could fall further in the coming session. EUR/JPY trades barely above an uptrend line and GBP/JPY trades at 146.75, only 75 pips above a key support. The pair fell to 146.15, posting a 5-week low.

EUR/USD is still moving in ranges. Dollar lost daily gains but the Euro failed one more time to break above 1.5000. The pair is still moving sideways between 1.5060 and 1.4800. The Euro also weakened against the Swiss Franc and trades at the lowest level in a week. EUR/CHF fell below 1.5100 as the pair failed to confirm last week highs.

Cable ended a few pips below the opening price against the Dollar after being rejected from levels below 1.6500. But the Pound failed to get back above 1.6600. To the Euro, the Sterling was able to recover after falling to a one-week low. EUR/GBP jumped to 0.9056 posting the highest price since November 12 but the pair failed to hold and pulled back to 0.9000.

Currencies tied to commodities finished near the same opening prices against the Dollar.

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New York Session

info@forex.com (FOREX.com) — Tue, 24 Nov 2009 22:21:42 GMT

Despite the heavy lot of economic data, the NY session was lackluster in terms of the price action. Equities closed about flat on the day and the US dollar is commensurately unchanged against the major currencies. The consumer confidence report was the main highlight in terms of data. However, while the headline number beat expectations by coming at 49.5 in November (up from 48.7), the details of the report are ominous. Most importantly, the labor differential â€“ which measures jobs plentiful

U.S. Forex Market Commentary

info@gcitrading.com (GCI) — Tue, 24 Nov 2009 22:17:47 GMT

EURO The euro lost ground vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4890 level and was capped around the $1.4990 level. Traders took back some of yesterday’s profits ahead of the release of the most recent Federal Open Market Committee meeting minutes later during the North American session. Traders are trying to determine how aggressive the Fed may become in unwinding its monetary stimuli in the coming quarters. St. Louis Fed

U.S. Forex Market Commentary

info@gcitrading.com (GCI) — Tue, 24 Nov 2009 22:17:47 GMT

Stocks end in negative; Dollar consolidates far from the highs of the day

FXstreet.com — Tue, 24 Nov 2009 21:17:00 GMT

FXstreet.com (Córdoba) – U.S. markets ended with losses but far from the lows. The minutes of the FOMC showed that the FED sees a slow recovery and expects the unemployment rate to remain at high levels. Interest rates would be dependent on the evolution of the economic outlook. The Dollar lost an important part of previous gains and still remains in ranges against the Euro and the Swiss Franc.

The Dow Jones lost 0.15% and the Nasdaq slide 0.31%. Both indexes ended far from intra-day lows. The minutes of the FED helped stocks move higher. Crude oil fell 2% and briefly traded below $76 a barrel. Gold did not reach new highs but holds above $1,165 an ounce.

EUR/USD holds below 1.5000. The Euro weakened in the last hour and currently trades at 1.4960/65, the same price it had at the beginning of the day. GBP/USD failed to get back above 1.6600 and currently is pulling down and trades at 1.6568/72, 0.18% below today’s opening price. The Yen is consolidating gains across the board. USD/JPY is moving inside a range between 88.40 and 88.60.

For more information, read our latest forex news.

US Session News Summary

support@ecpulse.com (ecPulse.com) — Tue, 24 Nov 2009 21:10:20 GMT

US GDP Revised to the downside US third quarter second estimate annualized GDP came inline with the forecasted showing a growth expansion of 2.8% down from 3.5%, while the second estimate of the GDP Price Index for the same period plunged to 0.5%; worse than the expected reading and the prior reading that are at 0.8%. US Core PCE US third quarter second estimate Core PCE plunged to 1.3%; worse than the forecasted and the prior readings that came in at 1.4%. US Personal Consumption US third

Forex: GBP/USD holds below 1.6600

FXstreet.com — Tue, 24 Nov 2009 20:16:00 GMT

FXstreet.com (Córdoba) – The Pound failed to break above 1.6600. Despite moving far away from the lows of the day that lie at 1.6494 GBP/USD trades at 1.6683/89, 0.11% below today’s opening price. Cable has fallen in five out of the last six days.

Next support levels lie at 1.6555 and below at 1.6500 (session low) and 1.6460 (Nov 20 low). On the upside, resistance levels could be located at 1.6595/00 (intra-day high) and above there, 1.6650 (Nov 23 high) and 1.6700.

The FastBrokers Research Team affirms: “Cable continues to find support along the psychological 1.65 level and our 2nd tier uptrend line. Our 2nd tier uptrend line runs through previous November lows, meaning a retracement could result in a movement towards 1.63. As for the topside, the GBP/USD faces multiple downtrend lines along with 11/23 and 10/23 highs. Recent weakness in the Cable has created quite a few immediate-term topside obstacles, meaning the currency pair would likely need a sizable boost in buy-side activity to get above our top-end barriers.”

For more information, read our latest forex news.

Forex: Dollar slightly down after FOMC minutes

FXstreet.com — Tue, 24 Nov 2009 19:28:00 GMT

FXstreet.com (Córdoba) – The Dollar extended it losses at a moderate pace after the release of the minutes of the Federal Reserve. Members of the FOMC agree that “the path of short-term rates going forward would be dependent on the evolution of the economic outlook”. They expected the unemployment rate to stay at elevate levels for some period.

EUR/USD rose above 1.4970 to 1.4982 and currently holds near the highs of the day and the 1.50 zone. GBP/USD did not change much and continues hovering around 1.6580. USD/CHF fell below 1.0090 and is testing a support at 1.0070. USD/JPY is holding below 88.50.

According to the minutes: “Some participants noted that the recent rise in the prices of oil and other commodities, as well as increases in import prices stemming from the decline in the foreign exchange value of the dollar, could boost inflation pressures. Overall, many participants viewed the risks to their inflation outlooks over the next few quarters as being roughly balanced.”.

For more information, read our latest forex news.

Weak dollar ahead of the FOMC …

support@ecpulse.com (ecPulse.com) — Tue, 24 Nov 2009 18:53:56 GMT

So far ahead of the FOMC meeting, the green Benjamin weakened and is loosing momentum throughout the currencies market as the world's largest economy expanded at a slower pace within the third quarter than it was primarily estimated, having in fact the third quarter real gross domestic product growth rate of 3.5 percent revised down to an annualized rate of 2.9 percent. In fact, the dollar index, which tracks the strength of the green Benjamin in front of a basket of currencies, dropped within

Risk Aversion Supporting Dollar

info@forexhound.com (ForexHound.com) — Tue, 24 Nov 2009 18:35:27 GMT

Forex: Dollar losses ground ahead of FOMC minutes

FXstreet.com — Tue, 24 Nov 2009 18:32:00 GMT

FXstreet.com (Córdoba) – Greenback lost strength in the last hours and now is falling across the board after failing to hold to gains. Against majors is moving away form the highs of the day and getting closer to the lows. Stocks are falling in the U.S. Commodities are also pulling down. Crude oil falls 1.88% and gold holds below $1.170.

The Dow Jones is falling 0.37% and the Nasdaq losses 0.56%. In Europe markets fell 0.60% on average. The rise in consumer confidence is not being enough to offset weak data on housing prices, manufacturing and GDP. At 19:00 GMT the Federal Reserve will release the minutes of the last FOMC meeting.

EUR/USD is back above 1.4950 and is getting closer to the resistance zone at 1.4990/1.5000. GBP/USD is hovering around 1.6570/80, 0.15% below today’s opening price. USD/CHF moved away from intra-day high that lie at 1.0153 and trades at 1.0085/89. Greenback lost most of the gains across the board except against currencies tied to commodities. The Yen is rising and USD/JPY trades below 88.55, at the lowest level in a month.

For more information, read our latest forex news.

Option traders sow the seeds at Origin Agritech

info@interactivebrokers.com (Interactive Brokers LLC) — Tue, 24 Nov 2009 18:12:55 GMT

SEED – Origin Agritech Ltd. – Frenzied options activity continues today on Beijing-based seed producer, Origin Agritech, following yesterday’s announcement that the firm received approval from China’s Ministry of Agriculture to sell its genetically modified phytase corn. Shares are currently up 4% to $10.86, down from an intraday high – and 52-week high – of $11.75. Bullish investors took root in the December contract, purchasing 6,900 calls at the December 12.5 strike for an average premium

Today's Live Show: Global Fundamentals to Watch When Trading the USD

trader@allthingsforex.com (AllThingsForex) — Tue, 24 Nov 2009 17:52:54 GMT

Forex traders, join the daily All Things Forex broadcast- a live one hour program covering Forex and major economic events, trend developments, research, analysis, ideas, education, live traders forum, interviews with some of the most respected names in the trading world, and much more.. In the broadcast today: Global Fundamentals to Watch When Trading the USD. We ask the experts Mr. Steve Meizinger, Director of Education at ISE- International Securities Exchange, and Mr. Jack Crooks, Chief

Forex: EUR/USD bounces at 1.4920, back to 1.4950

FXstreet.com — Tue, 24 Nov 2009 17:30:00 GMT

FXstreet.com (Barcelona) – The Euro has finally found support against the Dollar at 1.4920, coming from its 70 pips decline from 1.4990, and after bouncing at this level, the EUR/USD is trading back close to 1.4950, 010% below today's opening price action.

According to the FastBrokers Research Team, the EUR/USD fluctuates following negatively mixed US data: “Today’s EU data releases were all positive with Germany’s Ifo Business Climate and EU Industrial New Orders topping analyst expectations. The EUR/USD strengthened following the EU releases, but this morning’s U.S. econ data is keeping the currency pair in check. U.S. Prelim GDP and the S&P/CS HPI Index data all came in weaker than anticipated and we are presently awaiting the CB Consumer Confidence number... the EUR/USD still faces our 2nd tier and 3rd tier downtrend lines, which run through October and November highs, respectfully. Furthermore, the EUR/USD has to deal with its highly psychological 1.50 zone. As for the downside, the EUR/USD does have multiple uptrend lines serving as technical cushions along with 11/20 lows. Therefore, quite a few technical cushions and barriers are waiting nearby. Hence, further consolidation may not be out of the question.”

For more information, read our latest forex news.

US: PREVIEW of FOMC Minutes of November Meeting due at 1900 GMT

info@ransquawk.com (RANsquawk) — Tue, 24 Nov 2009 17:08:01 GMT

Are markets getting ahead of themselves? Speculation was rife that the Fed will finally alter its language and move towards a move hawkish stance. Some analysts even debated whether the statement – “rates to stay low for extended period” will disappear altogether. However, the Fed spoiled the party and kept to its prudent statement on economy. The question investors should really ask themselves is whether the expectations that the Fed should indeed change its tone are practical at this time or

US: Consumer Confidence Rises in November

sam.bullard@wachovia.com (Wells Fargo Investments, LLC) — Tue, 24 Nov 2009 17:04:37 GMT

The Consumer Confidence Index rose 0.8 points in November to 49.5. While the increase was better than expected, the underlying data remains abysmal. Consumers remain extremely worried about job prospects. About the Only Thing That Improved Was the Headline The Consumer Confidence Index rose 0.8 points in November to 49.5. While the increase was better than expected, the underlying data were extremely weak. Most key components either weakened or remained near record-low levels. Consumers remain

A$, "trigger" to a broader fin market reversal ?

d.solin@fxa.com (FXA) — Tue, 24 Nov 2009 17:02:02 GMT

The a$ may be giving an early indication of a potentially important reversal across a more broad range of financial markets . As been mentioning over the last few days on my scrolling technical commentary at www.fxa.com/solin/comments.htm (email me if you need a password), a$ has consolidated from the Friday test of the very important support at the bullish trendline from July/base of the potentially multi-month rising wedge (then at .9060). However, the 5 wave fall from the Nov 16th high at

Comprehensive FX and Futures Daily Research

info@fastbrokers.com (FastBrokersFX) — Tue, 24 Nov 2009 16:49:51 GMT

Daily Market Commentary EUR/USD Fluctuates Following Negatively Mixed U.S. Data The EUR/USD was rejected by its psychological 1.50 level once again, and the currency pair is fluctuating between our 2nd tier uptrend and downtrend lines as activity wanes in advance of the Thanksgiving holiday. Today’s EU data releases were all positive with Germany’s Ifo Business Climate and EU Industrial New Orders topping analyst expectations. The EUR/USD strengthened following the EU releases, but this

Ups and Downs Price-Oscillator Divergences in FX Trading

editor@forexjournal.com (The Forex Journal) — Tue, 24 Nov 2009 16:26:56 GMT

This article is taken from the Forex Journal (October 2009 issue). The author, James Chen , CTA, CMT, is Chief Technical Strategist at FX Solutions, a leading forex broker under the City Index Group. He is a registered Commodity Trading Advisor and a Chartered Market Technician, as well as author of the new book, Essentials of Foreign Exchange Trading (John Wiley & Sons, 2009). Many Forex traders consider divergence to be a complete, self-contained trading signal that can accurately

Forex: GBP/USD: Cable rebounds at 1.6530 and rises to 1.6590

FXstreet.com — Tue, 24 Nov 2009 16:25:00 GMT

FXstreet.com (Córdoba) – The Pound is moving sideways against the Dollar. GBP/USD rebounded at 1.6530 and rose back to 1.6590 but failed to break above. Currently trades at 1.6562/66, 0.22% below today’s opening price.

Next support levels lie at 1.6500 (session low) and below at 1.6460 (Nov 20 low) and 1.6400 (Nov 4 low). On the upside, resistance levels could be located at 1.6595/00 (intra-day high) and above there, 1.6650 (Nov 23 high) and 1.6700.

Darrell Jobman, from TraderPlanet.com, LLC affirms: “The UK currency found some support below 1.65 against the dollar on Monday, primarily due to dollar weakness rather than any backing for Sterling and pushed to highs near 1.6650 before consolidating near 1.66 later in the session. (…) There will still be important vulnerabilities surrounding the government debt position and overall Sterling sentiment is liable to remain very fragile. Markets will continue to monitor comments from Bank of England officials very closely with Governor King and other MPC members due to testify on the quarterly inflation report during Tuesday.”

For more information, read our latest forex news.

U.S. Update: Inside weekly ranges and attached to gold

analyst@fxstreet.com (FXstreet.com Independent Analyst Team) — Tue, 24 Nov 2009 16:23:25 GMT

What happened Despite Monday fresh high in gold, and dollar losing ground against most rivals, major crosses were still unable to leave past week ranges, and greenback bounced slightly up this Tuesday, since Asian opening. Nikkei 225 Stock Average was down 0.9%, while share prices in Hong Kong, Singapore and Korea were also lower, dragging Euro but more Gbp to the downside. Early Europe, Pound fall deeper after BOE’s Governor Mervyn King said the central bank will raise the

The Holy Grail for Trading– Proper Money Management

editor@forexjournal.com (The Forex Journal) — Tue, 24 Nov 2009 16:21:03 GMT

This article is taken from the Forex Journal (October 2009 issue). There are at least 101 theories out there on how to profit in Forex, stocks, futures and more. I personally believe that there is one theory that is essential and critical. That theory is proper Money Management. Money management is all about knowing what exactly you are risking per trade and making sure that level of risk is acceptable to your capital.

The yen and dollar strengthened

support@ecpulse.com (ecPulse.com) — Tue, 24 Nov 2009 16:05:45 GMT

The Japanese currency and the greenback advanced after earlier losses against higher-yielding currencies on concerns in markets as stocks fell despite the upbeat German and U.S. confidence data. The dollar index, a measure of the dollar's movements versus a basket of major currencies, is currently at 75.20 compared with today's opening at 75.13. As regards to the euro-dollar pair, it is showing a slight decline on the daily and 4-hour charts. The better-than-expected German data lifted the

Chart of the Day – USD/JPY

info@fxsol.com (FX Solutions) — Tue, 24 Nov 2009 15:52:11 GMT

(Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; chart patterns in white; 50-period simple moving average in light blue.) 11/24/2009 – USD/JPY – Bearish price action on USD/JPY, a daily chart of which is shown, has just made a new 6-week low and is currently targeting a re-test of the key 88.00 support level, which was last hit in early October. This

TraderPlanet Daily Currency Analysis

info@traderplanet.com (TraderPlanet.com, LLC) — Tue, 24 Nov 2009 15:44:10 GMT

EUR/USD The dollar weakened again on Monday, undermined from comments by regional Fed Governor Bullard. He stated that the Fed’s bond-buying programme should be extended beyond the current period to give greater policy flexibility for 2010. The comments reinforced expectations that the Fed would maintain a policy of very low interest rates and an aggressive monetary policy to support the economy. The Euro initially rose to near 1.4950 with higher gold prices also contributing to downward

Forex: USD/JPY: Greenback finds resistance at 88.60

FXstreet.com — Tue, 24 Nov 2009 15:44:00 GMT

FXstreet.com (Córdoba) – The Dollar’s recovery from the lows of the day found resistance at 88.60. USD/JPY fell earlier to 88.33 reaching a fresh 6-week low. Current price at 88.46/50 is 0.55% below today’s opening price and the pair is falling to test intra-day lows.

If it confirms below 88.55, next support levels might be at 88.30/35 (intra-day low) and 88.00 (Oct 7/Sept 23 lows), and then key support at 87.10 (Dec 08/Jan 09 low). On the upside, resistance levels lie at 89.15/20 (Nov 20/23 highs), and above here, 89.45/55 (Nov 17/19 highs) and 89.75 (Nov 16 high).

Valeria Bednarik, collaborator at FXstreet.com affirms: “Unable to hold above 89.00, pair printed a fresh 6 weeks low at 88.35 after U.S. data, and holds under 88.60 now resistance area. Still bearish yet a bit over extended to the downside, above mentioned 88.60 pair could trigger some upside corrective movements, still capped under 89.00.”

For more information, read our latest forex news.

Forex: EUR/USD falls from intra-day high to levels below 1.4950

FXstreet.com — Tue, 24 Nov 2009 15:30:00 GMT

FXstreet.com (Córdoba) – Greenback got stronger across the board in the last hours. Against the Euro managed to recover from previous losses and currently is posting gains. EUR/USD fell from daily high at 1.4988 to 1.4930 after the release of consumer confidence and manufacturing data. Current price at 1.4940/46 is 0.13% below the price it had at the beginning of the day.

U.S. Richmond Fed Manufacturing Index has declined to 1 in November, from 7 in October and from 14 in September. The Shipment Index dropped to 6 from 11 on the previous month, while the revenues index improved to -7 in November, from -22 in October.

For more information, read our latest forex news.

Forex: GBP/USD pullback from 1.6595 extends to 1.6530 on manufacturing data

FXstreet.com — Tue, 24 Nov 2009 15:23:00 GMT

FXstreet.com (Barcelona) - Pound's recovery attempt from session low at 1.6500 has been capped at 1.6595, and the Pound has pulled back, reaching 1.6530 low after weak U.S. manufacturing data.

At the moment, the Pound trades at 1.6545, with next support levels at 1.6500 session low, and below here, 1.6460 (Nov 20 low) and 1.6400 (Nov 4 low). On the upside, resistance levels lie at 1.6595/00 session high, and above there, 1.6650 (Nov 23 high) and 1.6700 area.

U.S. Richmond Fed Manufacturing Index has declined to 1 in November, from 7 in October and from 14 in September. The Shipment Index dropped to 6 from 11 on the previous month, while the revenues index improved to -7 in November, from -22 in October.
For more information, read our latest forex news.

US Sep Housing Price Index stays flat from last month

FXstreet.com — Tue, 24 Nov 2009 15:04:51 GMT

FXstreet.com (Barcelona) For more information, read our latest forex news.

US Richmond Fed Manufacturing Index declines to 1 in Nov from 7

FXstreet.com — Tue, 24 Nov 2009 15:04:23 GMT

FXstreet.com (Barcelona) For more information, read our latest forex news.

U.S. markets open with slight declines after GDP data; Dollar and Yen trim gains

FXstreet.com — Tue, 24 Nov 2009 15:04:00 GMT

FXstreet.com (Barcelona) - U.S. markets have opened Tuesday's session on a slight sell tone, after U.S. GDP showed that U.S. economy is going through a weaker than expected recovery. Dollar and Yen are pulling down after rallying during Asian session.

Dow Jones Index dips 0.4%, while the Nasdaq Index drops 0.65%, and the S&P Index declines 0.50% in the first half hour after the opening bell.

On the macroeconomic front, the U.S. U.S. Gross Domestic Product increased 2.8% from July to September, below the 3.5% increase previously estimated, according to preliminary figures by the U.S. Commerce Department.

Somewhat later, optimism has picked up as U.S. Case-Shiller Home Price Index, has shown a 8.9% decline in the third quarter, a substantial improvement from the 14.7% decline in the second quarter, and the 19% decline in the first three months of the year.

Dollar and Yen trim gains

EUR/USD has picked up from 1.4880 session low to reach 1.4990 resistance level after U.S. housing prices were released, although the pair has failed, once again around 1.5000 and pulled down to levels around 1.4950 at the moment of writing.

GBP/USD found support at 1.6500 low during European session and the Pound has picked up to 1.6595 high on early U.S. session, although the Pound has been rejected and pulled down to 1.6550 on weak equity markets.

USD/JPY has broken below 88.55 support level after weaker tan expected GDP data, to reach a fresh 6-week low at 88.35, so far.
For more information, read our latest forex news.

US Nov Consumer Confidence up to 49.5 from 48.7

FXstreet.com — Tue, 24 Nov 2009 15:03:37 GMT

FXstreet.com (Barcelona) For more information, read our latest forex news.

Stock Markets Flat to Higher Ahead of U.S. GDP Report

info@forexhound.com (ForexHound.com) — Tue, 24 Nov 2009 14:52:44 GMT

U.S. equity markets are trading flat to higher ahead of this morning’s U.S. 3rd Quarter GDP Report. Expectations are for the report to show a decrease in the economy from 3.5% to 2.8%. A wider trade gap and faltering consumer spending are cited as the main reasons behind the decline. Yesterday the equity markets weakened throughout the day after

Forex Traders Await U.S. GDP Report

info@forexhound.com (ForexHound.com) — Tue, 24 Nov 2009 14:51:14 GMT

The Dollar is trading slightly better as traders await this morning’s U.S. 3rd Quarter GDP Report. The report is expected to show a decrease from the previous estimate. Previously the report showed an increase of 3.5% which some economists thought was too high. Today’s report is expected to show growth of 2.8%. A wider trade gap and weak retail sales are expected to weigh on GDP performance. The Forex markets are reversing yesterday’s gains. Risk aversion

Indications that the Euro's rally could be running out of some steam

sam.bullard@wachovia.com (Wells Fargo Investments, LLC) — Tue, 24 Nov 2009 14:51:13 GMT

Market Summary The greenback is down, reversing early gains, although the greenback’s decline is perhaps limited considering today’s range of data. Eurozone figures, including confidence, manufacturing and consumer spending data, painted a consistent picture of European recovery, while non-Eurozone data were generally stronger as well. But as we have seen over the past several sessions, the euro has struggled to gain much traction on this favorable news, a further indication that

Forex: GBP/USD: Above 1.6575 we could see 1.6640 - Kshitij Consultancy Service

FXstreet.com — Tue, 24 Nov 2009 14:45:00 GMT

FXstreet.com (Barcelona) - Pound's decline from 1.6650 high on Monday has found support at 1.6500 on European trade, and the Pound reaching levels around 1.6575, which, according to the Kshitij Consultancy Service Team could open the doors to 1.6640 area.

If the Pound breaks above 1.6575, the Kshitij Consultancy Service Team, sees an uptrend to 1.6640, likely: "Cable has risen from the day's low of 1.6496. Immediate Resistance is seen at 1.6575, a break above which might see a rise towards 1.6640-60. A strong break above 1.6660 might target 1.6730-50."

On the downside, if 1.6575 holds, the pair could drop to 1.6450, says the Kshitij Consultancy Service : "On the other hand if the immediate Resistance at 1.6575 holds, we might see a downmove towards 1.6450-30."
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USD firms on concern about German West LB bank

info@easy-forex.com (Easy Forex) — Tue, 24 Nov 2009 14:38:44 GMT

FX Highlights The USD is trading mixed to higher supported by a dip in risk appetite sparked by report of S & P’s concern over capital shortfalls at some large global banking firms and worries about German banks, FAZ reports that Germany’s West LB bank may be allowed to become insolvent, news about German bank troubles was partly offset by stronger German IFO, BOE Governor King warns about UK debt, Swiss UBS consumption index shows improvement, rift between the Japanese government and BOJ

Bonds fail to make headway on latest banking crisis

info@interactivebrokers.com (Interactive Brokers LLC) — Tue, 24 Nov 2009 14:38:25 GMT

In our earlier FX View I noted that the dollar had failed to benefit for more than a microsecond on several emergent reports questioning banks’ capital adequacy. Chinese state-owned banks have to consider raising more capital after strong lending depleted capital ratios. We can think of worse circumstances for needing more capital. Rather the topic is a rear view look at the progress made by central banks in their efforts to shore up the global banking system. While the dollar is back to

Currency Majors Technical Perspective

analyst@fxstreet.com (FXstreet.com Independent Analyst Team) — Tue, 24 Nov 2009 14:38:02 GMT

EUR/USD Current price: 1.4975 After U.S. GDP under expectations, yet at 2.8%, pair is almost unchanged. Hourly indicators show pair is losing previous upside strength, with price action closely attached to gold movements rather than stocks. Still trading in weekly range pair needs to strongly clear the 1.5000/20 level to trigger an upside acceleration, not seen at this point. Watch for a break under today’s low around 1.4880 support, to trigger some bearish movements in the next hours. Support

USDJPY closing in on lows for the year

info@saxobank.com (Saxo Bank) — Tue, 24 Nov 2009 14:25:42 GMT

EURUSD survives attempt down through weekly pivot and makes comeback on strong German IFO MAJOR HEADLINES – PREVIOUS SESSION Australia Sep. Conference Board Leading Index rose 0.3% vs. 1.5% in Aug. Japan Oct. Supermarket Sales fell -5.2% YoY vs. -2.4% in Sep. Switzerland Oct. UBS Consumption Indicator rose to 0.867 vs. 0.671 in Sep. Switzerland Q3 Employment Level rose +0.2% vs. -0.8% expected Sweden Oct. PPI fell -0.4% MoM vs. -0.1% expected Germany Nov. IFO out at 93.9 vs. 92.5 expected and

Forex: Yen tests key levels against European currencies

FXstreet.com — Tue, 24 Nov 2009 14:21:00 GMT

FXstreet.com (Córdoba) – The Yen is testing important levels against European currencies after rising sharply during the Asian and European session. The Japanese currency is stronger across the board.

GBP/JPY fell after the release of GDP figures in the U.S. to 146.20 posting the lowest price in 5 weeks. Between 146.25 and 146.00 the pair has a congestion zone. If it falls below the Yen could gain momentum since it will be breaking an important support. To the downside next support levels lie at 144.50 (Sept 30 high) and below at 143.90/144.00 (Oct 5 and 14 high) and 143.20 (Oct 12 high).

EUR/JPY trades a few pips above a key dynamic support which is an uptrend line. Currently the support lies between 131.70 and 132.00 and the pair trades at 132.50/55. The next support levels could be located at 130.60 and below at 130.00 and 129.00 (Oct 2 low). To the upside resistance lies at 133.00 and at 133.80.

Ian Coleman, technical analyst at Turtle Futures comments: “We broke an ascending wedge overnight and have moved lower. EURJPY has refused the daily triangle trend line again (currently at 132.10).” He sees the pair going higher at this level but he affirms: “The move down can be counted in 5 waves, the potential move higher may just be a correction.”

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Forex: EUR/USD: Euro hits 1.4990, approaching 1.5000 after housing prices

FXstreet.com — Tue, 24 Nov 2009 14:16:00 GMT

FXstreet.com (Barcelona) - Despite a slight ease to levels around 1.4960 after softer than expected GDP data, the Euro has extended its recovery from 1.4889 session low to 1.4990 high, right below key resistance area at 1.5000 on positive house prices data.

At this moment the Euro is struggling with 1.4985/00 resistance ares (session high/Nov 23 high), and above here, next resistance levels will be 1.5015 (Nov 16 high) and 1.5035. On the downside, support levels lie at 1.4950/55, and below here, 1.4920/25 and 1.4880. session low

U.S. Case-Schiller Home Price Index, has shown a 8.9% decline in housing prices during the third quarter, a substantial improvement from the 14.7% decline in the second quarter, and the 19% decline in the first three months of the year.
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US Sep S&P/Case-Shiller Home Price Indices fall 9.4%

FXstreet.com — Tue, 24 Nov 2009 14:00:33 GMT

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Hold Gold?

info@fxknight.com (fxKnight.com) — Tue, 24 Nov 2009 13:58:53 GMT

Over the last week, Gold again reached record levels – hitting our long-term weekly target at 1133.24. There is speculation that since India recently bought 200 metric tons from the IMF and increased its holdings to 6% that China will follow. China is the largest producer and consumer of gold in the world. Many economists expected that the sale of gold to India by the IMF would cause the price of gold would fall. However, the bottom did not fall out because this purchase was known

Forex: USD/JPY breaks below 88.55, to 88.35, 6-week low after GDP

FXstreet.com — Tue, 24 Nov 2009 13:56:00 GMT

FXstreet.com (Barcelona) - The Dollar has depreciated against the Ye3n after weaker tan expected GDP data, and the pair has finally broken below range support at 88.55 to reach a fresh 6-week low at 88.35, so far.

U.S. Gross Domestic Product increased 2.8% from July to September, below the 3.5% increase previously estimated, according to preliminary figures by the U.S. Commerce Department.

If the pair confirms below 88.55, next support levels might be at 88.35 (Oct 9 low) and 88.00/23 (Oct 7/Sept 23 lows), and then key support at 87.10 (Dec 08/Jan 09 low).

On the upside, above 88.55/65, resistance levels lie at 89.15/20 (Nov 20/23 highs), and above here, 89.45/55 (Nov 17/19 highs) and 89.75 (Nov 16 high).
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24/11/2009 - The Current Market Sentiment 2

mail@fx-recommends.com (FX Recommends) — Tue, 24 Nov 2009 13:52:31 GMT

Marvin King has started The MPC testimony in front of the house of committee today favoring a reduction of the trade deficit for spurring growth and helping the struggling growth in UK which weighed on the British pound as it is well known that the lower currency value gives a competitive advantage to the exports which referred to the BOE governors preferring to a lower currency value currently but later in his speech he has referred to a spike of the inflation in UK in the coming 6 months

Chile FX Flows - CLP has some technical profit taking after strong rally on Monday

analysis@fxmarketalerts.com (FXMarketAlerts) — Tue, 24 Nov 2009 13:46:30 GMT

Published at 13:37 (GMT) 24 Nov CLP is retracing some of its strong rally yesterday in what is clearly a technical profit taking as EUR has not reversed gains and commodities are still on the up. Local business people outcry on the strong CLP would also weight on the traders mind because it could increase the chances of BCCH intervention and therefore the upside at these levels is rather limited. The rest of the week however is devoid of domestic data although Friday's monetary policy minutes

U.S. 3Q preliminary GDP rises below advanced estimations; Dollar and Yen up

FXstreet.com — Tue, 24 Nov 2009 13:46:00 GMT

FXstreet.com (Barcelona) - U.S. Gross Domestic Product increased 2.8% from July to September, below the 3.5% increase previously estimated, according to preliminary figures by the U.S. Commerce Department. Dollar and Yen have edged up against major rivals.

USD/JPY decline from Monday's high at 89.20 has extended below 88.55 support after the release of U.S. GDP, and the Dollar has dipped to 88.35, its lowest level since early October.

EUR/USD which had extended recovery from 1.4880 session low to intra-day high at 1.4985 right ahead of GDP data release, has pulled down to 1.4960 after the weaker than expected reading was released.

GBP/USD had bounced from 1.6495 session low, to reach 1.6590 moments ahead of the GDP, to pull down to 1.6560 minutes after U.S. data was released.

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US 3Q Real Personal Consumption Expenditures increase 2.9%

FXstreet.com — Tue, 24 Nov 2009 13:35:09 GMT

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US Morning Briefing

info@ransquawk.com (RANsquawk) — Tue, 24 Nov 2009 13:34:37 GMT

Overnight News Asia: In equities the Nikkei hit its lowest close in four months as banking shares were sold on persistent worries that more financial firms would tap the market for equity financing and as a stronger JPY hurt shares of exporters. Japan Airlines Corp plunged to a record low on worries about a possible bankruptcy, while consumer lender Takefuji Corp fell nearly 7% after a two-notch downgrade from rating agency Moody’s to a level indicating a very high credit risk. (RTRS) JGB’s

US 3Q GDP rises 2.8%

FXstreet.com — Tue, 24 Nov 2009 13:34:11 GMT

FXstreet.com (Barcelona) For more information, read our latest forex news.

London Gold Market Report

info@bullionvault.com (BullionVault.com) — Tue, 24 Nov 2009 13:33:08 GMT

Gold Hits Fresh USD, Euro & GBP Records as UK Central Bank Bets Its Pension on Inflation-Linked Bonds THE PRICE OF WHOLESALE gold in the professional market hit a new record London Fix of $1170.25 an ounce early Tuesday, while Asian stock markets closed the day lower and the US Dollar slipped on the forex market. Crude oil also fell back. Government bonds ticked higher. One London gold dealer noted a "sense of disappointment" that gold failed to reach $1200 an ounce last night as the

South Africa: Economy exits recession

danskeresearch@danskebank.com (Danske Bank A/S) — Tue, 24 Nov 2009 13:29:12 GMT

The South African economy grew 0.9% q/q (seasonally adjusted, annualised) in the third quarter this year. Details The South African economy advanced by 0.9% q/q (seasonally adjusted, annualised – s.a.a) in the third quarter compared to revised -2.8% q/q registered in Q2 (previously -3.0% q/q). The outcome in the third quarter was somewhat better than our and consensus expectations. On an annual basis the South African economy contracted by 2.1% y/y in Q3, which was also better than expected

Chart USD/JPY Update: Pointing lower to complete pattern

analysis@fxmarketalerts.com (FXMarketAlerts) — Tue, 24 Nov 2009 13:26:11 GMT

Published at 13:09 (GMT) 24 Nov

Norway: GDP better than at first sight

danskeresearch@danskebank.com (Danske Bank A/S) — Tue, 24 Nov 2009 13:22:10 GMT

Today Statistics Norway released Q3 GDP figures. Mainland GDP was up 0.5% q/q, (we expected a rise of 1.4% and consensus plus 0.8%). Hence, at first sight, the figures were somewhat disappointing. However, a closer look at the figures reveals that overall demand was up 1.8% q/q while the contribution to growth from the change in inventories was minus 1.3%. Otherwise, the contribution from private consumption, fixed investments and net exports where roughly as expected. In particular, the

World's largest economy growth revised to the downside but remains artificial…

support@ecpulse.com (ecPulse.com) — Tue, 24 Nov 2009 13:19:34 GMT

The third quarter's U.S real gross domestic product growth rate of 3.5 percent is forecasted to be revised down to an annualized rate of 2.9 percent, due to the widening of the county's trade deficit, as the 3.5% growth detected within the third quarter seemed artificial and should actually be strongly questioned and explained; since the jobless rate jumped beyond expectations reaching above 10 percent for the first time since 1983. In fact, today's revised annualized third quarter growth

Technical Major Currencies MiddayReport

support@ecpulse.com (ecPulse.com) — Tue, 24 Nov 2009 13:18:39 GMT

EUR/USD The euro versus the dollar managed to quickly descend and halt the move at the 100 MA at 1.4890 and returned to ascend once again, in an attempt to attack scattered resistance levels between 1.4950 – 1.4985. Our morning expectations remain intact while we await a bullish intraday direction, which will prevail after a clear breach of 1.4985 that also requires 1.4855 to remain intact. The trading range for today is among the key support at 1.4800 and the key resistance at 1.5100. The

Forex: USD/CAD trades lower and falls below 1.0600

FXstreet.com — Tue, 24 Nov 2009 12:59:00 GMT

FXstreet.com (Barcelona) – After reaching intra-day high at 1.0642, the Dollar has losses a part of its previous gains against the Canadian to fall around 70 pips during the European session to trade close to 1.0570. Currently the pair is trading around 1.0575/85, 0.20% above today's opening price action at 1.0555.

The United States expects to confirm its recovery with its 3.0% increases in the 3Q annualized GDP preliminary release. Previous data was posted as 3.5% increases in the 2Q.
For more information, read our latest forex news.

Forex: EUR/USD jumps to today's highs at 1.4985

FXstreet.com — Tue, 24 Nov 2009 12:44:00 GMT

FXstreet.com (Barcelona) – The Euro has extended its recovery against the Dollar from intra-day low at 1.4885 in the early European session to break MA55, 100 and 200 periods in the 60 minutes chart zone at 1.4915/25 and jumps to hit intra-day high close to 1.4985. Currently the pair is trading around 1.4875/85, 0.10% above today's opening price action.

EUR/USD is trading higher today's after recovering previous losses, taking positions on the back of today's main data in US. The United States expects to confirm its recovery with its 3.0% increases in the 3Q annualized GDP preliminary release. Previous data was posted as 3.5% increases in the 2Q.

According to Mohammed Isah, analyst at FXTechstrategy, the immediate risk in EUR/USD is bullish: “With most of its recovery gains on Monday still maintained, immediate risk remains higher with focus on its Nov 16’09 high at 1.5014. A sustained break and hold above there will set the stage for a run towards its YTD high at 1.5062 with an eventual break of that level creating scope for further upside towards the 1.5082 level, its Aug 10’08 high and next its 1.5283 level, its May 04’08 low. This view remains valid while EUR holdSfirmly above its long rising trendlineand its Nov 20’09 high at 1.4799. Its daily studies have turned higher supporting this view.”

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Forex: GBP/USD bounces at 1.6495, back above 1.6580 ahead the US GDP

FXstreet.com — Tue, 24 Nov 2009 12:33:00 GMT

FXstreet.com (Barcelona) – The Sterling has reacted up against the Greenback after hitting today's low at 1.6495 to bounces from this level to trade above MA55 hourly chart at 1.6560 and trade close to 1.6580. Currently the pair is trading 1.6575/85, 0.15% below today's opening price action at 1.6602.

The United States expects to confirm its recovery with its 3.0% increases in the 3Q annualized GDP preliminary release. Previous data was posted as 3.5% increases in the 2Q.

The Kshitij Consultancy Service Team comments: “Cable has risen from the day's low of 1.6496. Immediate Resistance is seen at 1.6575, a break above which might see a rise towards 1.6640-60. A strong break above 1.6660 might target 1.6730-50. On the other hand if the immediate Resistance at 1.6575 holds, we might see a downmove towards 1.6450-30. Currently the pair is looking mixed with 50-50 chances of moving in either direction.”

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Forex: EUR/USD bounces up from 1.4880 low and reaches 1.4950 area

FXstreet.com — Tue, 24 Nov 2009 11:35:00 GMT

FXstreet.com (Barcelona) - Euro decline from 1.5000 high on Monday has found support at 1.4880 low on early European session to bounce, supported buy better than expected German consumer confidence, and reach 1.4950 area at the moment of writing.

Resistance levels lie at 1.4960/70, and above there, 1.5000 (Nov 23 high) and 1.5015 (Nov 16 high). On the downside, initial support levels lies at 1.4880 session low, and below here, 1.4830 (Nov 23 low) and 1.4795 (Nov 20 low).

Despite the recent pick up, the Euro remains bearish, and according to the Swiss e Trade Strategy Team, prone to a decline towards 1.4850: "The euro is on a downtrend against the dollar that started in Asian trading and continues right now in early European market hours. Now, after some upward corrections, with the market currently trading at 1.4940, we see some more of this down movement for today, leading to lows around 1.4850."

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Forex: USD/JPY will bottom at 88.00 and appreciate to 100.00 in 2010 - Rabobank

FXstreet.com — Tue, 24 Nov 2009 11:20:00 GMT

FXstreet.com (Barcelona) - The Dollar has been declining against the Yen since April, reaching 88.55 low so far, and according to the Rabobank's Financial Markets Research Team, the pair will bottom at 88.00 to appreciate through 2010 to reach levels around 100.

The Dollar is expected to edge lower and trade at levels around 88.00 during the month of December, and remain flat trading around the mentioned level during the first two months next year, according to the Rabobank's Financial Markets Research Team.

From February onwards, the the Rabobank's Financial Markets Research Team expects the Dollar to advance to 91.00 by May next year, and to 96.00 in August, to reach 101.00 level in 12 months time.
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Forex: USD/CHF: Dollar recovery, capped at 1.0150; drops back to 1.0105 area

FXstreet.com — Tue, 24 Nov 2009 11:01:00 GMT

FXstreet.com (Barcelona) - Dollar decline from 1.0225 high on Friday found support on Monday at 1.0070 low, and the pair bounced up during U.S. and Asian sessions, although the Dollar has been capped at 1.0150 and has pulled down to levels around 1.0105 at the moment of writing.

On the downsisde, next support level lies at 1.0995/00 untra-day support, and below here 1.0070 (Nov 23 low) and 1.0045 (Nov 23 low). On the upside, resistance levels lie at 1.0150 session high, and above here, 1.0190/00 and 1.0225 (Nov 20 high).

For more information, read our latest forex news.

Forex: GBP/USD: Pound reaches 1.6500 low

FXstreet.com — Tue, 24 Nov 2009 10:29:00 GMT

FXstreet.com (Barcelona) - Pound's retreat from Monday's high at 1.6650 has extended on early European session to test 1.6495/00 support area, which so far remains intact, while the Pound approaches oversold levels on hourly charts.

On a wider perspective, Greg Holden, technical analyst at ForexYard observes a bullish cross on daily charts: "There is a fresh bullish cross forming on the daily chart's Slow Stochastic indicating a bullish correction might take place in the nearest future. The upward direction on the hourly chart's Slow Stochastic also supports this notion."

At the moment, the Pound is trying to bounce from 1.6495/00 support, below here, next support levels lie at 1.6460/65 (Nov 20/23 low) and 1.6400 (Nov 4 low). Resistance levels are 1.6585, and above here, 1.6650 (Nov 23 high) and 1.6700 area.
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EU Sep Industrial New Orders up 1.5% MoM, down 16.5% YoY

FXstreet.com — Tue, 24 Nov 2009 10:01:38 GMT

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European markets open on weak note; Euro and Pound lower

FXstreet.com — Tue, 24 Nov 2009 09:54:00 GMT

FXstreet.com (Barcelona) - European markets have opened Tuesday's session on sell note with investors taking profits after Monday's rally, with banking shares leading losses. Dollar and Yen have profited on declining risk appetite.

Eurostoxx 50 Index trades 0.85% down, while German DAX Index sheds 0.68%, and French CAC Index drops 0.8%. In the UK, the FTSE Index trades 0.5% down in the first hours after the opening.

On the Macroeconomic front, German business confidence improved beyond expectations in November, reaching 93.9 points in November, its better reading in a year, from 92.0 in October. The assessment about the current conditions rose to 89.1 from 87.4, while the expectations index advanced to 98.9 in November from 96.8 in October.

Dollar and Yen favoured in fading risk appetite

EUR/USD has declined from Monday's high, right at 1.5000, with the downtrend accelerating at European session opening, and the pair reaching levels below 1.4900 to test 1.4880. At the moment, the Euro is attempting to pick up supported by bright Ifo data, reaching levels around 1.4930.

GBP/USD continues heading south after having peaked at 1.6650 high on Monday. The Pound broke on Monday below 1.6600 to reach session low at 1.6500. At the moment, the Pound trades at 1.6520; 0.50% below its opening level.

USD/JPY decline from 89.20 high on Monday has extended to test 88.55 support area (Nov 23 low) which is coming under pressure at the moment of writing.
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UK Total Business Investment falls 3% QoQ and 21.7% YoY in 3Q

FXstreet.com — Tue, 24 Nov 2009 09:34:39 GMT

FXstreet.com (Barcelona) For more information, read our latest forex news.

UK Oct BBA Mortgage Approvals up to 42.2K from 42.1K

FXstreet.com — Tue, 24 Nov 2009 09:33:25 GMT

FXstreet.com (Barcelona) For more information, read our latest forex news.

Forex: EUR/USD extends recovery from 1.4880 on better than expected Ifo data

FXstreet.com — Tue, 24 Nov 2009 09:27:00 GMT

FXstreet.com (Barcelona) - German business confidence improved beyond expectations in November, reaching 93.9 points in November, its better reading in a year, from 92.0 in October. he Euro has picked up strength to bounce up from session lows.

EUR/USD has extended its recovery from 1.4880 intra-day low, with the Euro reaching levels around 1.4935 after Ifo data was released.

Next resistance levels lie at 1.4960/70, and above there, 1.5000 (Nov 23 high) and 1.5015 (Nov 16 high). On the downside, initial support levels lies at 1.4880 session low, and below here, 1.4830 (Nov 23 low) and 1.4795 (Nov 20 low).
For more information, read our latest forex news.

German Nov IFO Business Climate rises to 93.3 from 91.3

FXstreet.com — Tue, 24 Nov 2009 09:00:50 GMT

FXstreet.com (Barcelona) For more information, read our latest forex news.

Forex: AUD/USD: Aussie, capped at 0.9275 declines to 0.9130 low

FXstreet.com — Tue, 24 Nov 2009 08:57:00 GMT

FXstreet.com (Barcelona) - Australian Dollar recovery from 0.9060 low on Friday extended on Monday to 0,9275 high to turn down during U.S. and Asian sessions hitting 0.9130 low on early European session, testing the uptrend support line from early March lows, now around 0.9135/40.

At the moment, the Aussie trades at 0.9170, and with the pair fairly neutral, according to Rajoo C, technical analyst at Precise Trader: "Hourly Trend is Sideways while 9300 holds and Daily Trend is Sideways Up while 9025 holds, so expect the price to be Choppy and Downside may be limited. "

On the upside, resistance levels might be at 0.9215/25, and above here, 0.9280 (Sept 23 high) and 0.9325/35 (Nov 18 high). On the downside, support levels lie at 0.9035/40 (LT trendline), and below here, 0.9060 (Nov 20 low) and 0.9025 (Nov 5 low).

For more information, read our latest forex news.

Interbank FX Tightens Spreads

FXstreet.com — Tue, 17 Nov 2009 11:54:00 GMT

Interbank FX (www.interbankfx.com), a leading off-exchange retail foreign currency (Forex/FX) broker has implemented new multi-bank liquidity pricing with major currency pairs as low as one pip.

“At Interbank FX, we obtain competitive bids for order flow on our multi-bank feed, allowing our customers to achieve optimal pricing and execution, faster processing times and increased liquidity on every trade,” said Todd Crosland, Chairman and President of Interbank FX. “We’ve lowered our spreads with an average spread below 2.0, offering our customer base optimum pricing to facilitate their trades.”

“As low as” spreads include:

Based on all trading data from 11/5/09-11/11/09

GBP/JPY
Usual Spread: 7
New "as low as" spread: 3

EUR/JPY
Usual Spread: 4
New "as low as" spread: 2

EUR/USD
Usual Spread: 2
New "as low as" spread: 1

USD/JPY
Usual Spread: 3
New "as low as" spread: 1

USD/CHF
Usual Spread: 4
New "as low as" spread: 1

GBP/USD
Usual Spread: 4
New "as low as" spread: 2

AUD/USD
Usual Spread: 5
New "as low as" spread: 2

USD/CAD
Usual Spread: 5
New "as low as" spread: 2

GBP/CHF
Usual Spread: 7
New "as low as" spread: 4

Spreads are not fixed and will fluctuate during periods of market volatility or low liquidity.

Interbank FX currency prices are derived real-time from multiple price feeds from many of the world's largest financial institutions resulting in pricing that reflects the natural movements of the interbank FX market. However, our multi-bank liquidity is just one advantage of trading with Interbank FX. Others include:

·         100% automated execution
·         No market manipulation
·         Anonymous order execution
·         Free Streaming Dow Jones News

“Interbank FX strives to uphold the upmost integrity and transparency for our customers,” said Crosland. “We look forward to continuing to raise the bar for 2009 and beyond and invite our customers to test-drive our enhanced multi-bank pricing for themselves.”

For more information about Interbank FX or to open a live account, please visit www.interbankfx.com.
For more information, read our latest forex news.

Interbank FX Unveils Micro Mini Challenge Facebook Application

FXstreet.com — Tue, 17 Nov 2009 10:29:00 GMT

Interbank FX (www.ibfx.com), a worldwide provider of online off-exchange retail foreign currency (Forex/FX) trading, returns as the Cyber Café Sponsor in the seventh annual Traders Expo- Las Vegas showcasing a brand new Facebook APP featuring Micro Mini Challenge Winners.

Available through the Interbank FX Facebook page, this new application will facilitate Micro Mini Challenge participants to connect with Interbank FX and their fellow traders through Facebook—allowing winners to tag and share their photos and winning certificates.

Using historically compressed data, Interbank FX’s Micro Mini Challenge allows four traders to compete for 10 minutes against one another beginning with $10,000 in equity. The trader with the highest equity wins, walking away with a brand new Bose headset.

“Our Micro Mini Challenge is a fun way for traders to engage in friendly competition,” said Marilyn McDonald, Vice President of Customer Experience at Interbank FX. “We at Interbank see the growing trend for traders to incorporate social media into their trading strategies, and we’re excited to facilitate a social connection between our Micro Mini Challenge participants and our Facebook page.”

To learn more about Interbank FX’s library of free trading tools, visit http://www.ibfx.com/tools/tradingtools.aspx or open a free demo account at http://www.ibfx.com/NewVisitor/forex-software.
For more information, read our latest forex news.

Alpari Group unveils innovative chart pattern service from Autochartist™

FXstreet.com — Thu, 12 Nov 2009 15:42:00 GMT

Online foreign-exchange trading provider, Alpari (UK) is now offering traders real time chart-pattern recognition from Autochartist™, one of the leading sources of software for the forecasting of financial market trade data.

Alpari Group clients worldwide now have access to Autochartist’s powerful chart-pattern-recognition software at no extra cost. This service is intended to assist traders identify complete and emerging market patterns and trends using ground-breaking technology. The Autochartist software eliminates the time-consuming task of having to scrutinise the markets by automatically providing chart pattern alerts in real time.

Autochartist indicates the general direction of price movement and past trends. Along with straightforward instruction and educational material, Autochartist features 16 different popular trending and non-trending patterns, including formations such as triangles, rectangles, wedges, head and shoulders, pennants, flags, tops and bottoms and channels. It is a powerful resource that can help clients optimise their trading strategy.

“Autochartist is our latest addition to the Alpari Group’s already comprehensive portfolio of analytical tools. It is designed to provide our clients with a more visual overview of market trends to allow them to make informed and considered trading decisions,” said Andrey Vedikhin, CEO Alpari (UK) and co-founder of the Alpari Group. Alpari (UK) is offering the Autochartist software to all customers with a live account, at no extra cost.

For Autochartist the partnership represents further penetration of the global market, notably the international customer base of Alpari Group companies in the UK, Russia and the US. “Autochartist is proud to be associated with an expansive, respected Forex company like the Alpari Group,” said Erik Voges, COO of Autochartist.”

For more information about Autochartist, and to open an Alpari (UK) account, please visit www.alpari.co.uk.
For more information, read our latest forex news.

Alpari Group launches institutional trading platform Alpari Direct Pro powered by Currenex® Technology

FXstreet.com — Thu, 29 Oct 2009 14:32:00 GMT

The Alpari Group, one of the world’s fastest growing providers of online foreign exchange (FOREX) services, today announced the launch of Alpari Direct Pro, an institutional trading platform powered by Currenex®, a recognized and award-winning leader in the provision of innovative trading solutions to the active-trading segment of the Forex market.

Deep liquidity from multiple Tier-1 and Tier-2 banks
Powered by Currenex® technology, Alpari Direct Pro is tailored to the advanced demands of institutional Forex investors, ranging from smaller banks and financial institutions to hedge funds and CTAs. Alpari Direct Pro delivers interbank liquidity - aggregating feeds from multiple Tier-1 and Tier-2 banks - and displays their full depth of the market for transparent pricing.

Zero commission for the first three months
True to the Alpari Group’s commitment to offering advanced trading technology at the most competitive prices, institutional traders will pay no commission until January 20th 2010. To qualify, clients will need to trade a volume (nominal) of USD1 billion or currency equivalent per month (pro-rata) with commission being rebated the following month. Thereafter, very competitive commission terms will be offered. With a minimum USD 20,000 deposit, Alpari Direct Pro traders can place orders from just 10,000 units of base currency and can start trading 50 major and exotic currency pairs.

Straight through to the market
To ensure high-speed low latency execution and to empower traders with the tools to optimise market impact with reduced execution costs, Alpari Direct Pro features Straight Through Processing (STP), Non-Dealing Desk execution (NDD), full market depth for transparent pricing with fractional pips and integrated algorithmic models to support order execution.

Functionality to fit every strategy
Multiple order types give traders full control over order timing and execution. Furthermore, Alpari Direct Pro features intuitive and fast keypad trading capabilities, pre and post-trade allocation solutions, trade averaging functions, sophisticated order management, and comprehensive reporting tools.

Commenting on the new platform, Andrey Vedikhin, co-founder of the Alpari Group, said: “The Alpari Group now provides its institutional clients with one of the most comprehensive selections of advanced trading tools and expert resources available from any online Forex trading provider. We are also committed to offering a commission structure – starting with zero commission for the first three months of the platform’s launch – that is highly competitive and as compelling as the platform itself. Lowest cost trading matched with the highest level of platform functionality is what institutions demand today, and this is the combination that we are committed to delivering.”
For more information, read our latest forex news.

New NFA Rules Cap the Leverage on Majors and Exotic Currency Pairs

FXstreet.com — Wed, 28 Oct 2009 15:00:00 GMT

Please be advised that the CFTC has recently approved rule-amendments of the U.S. regulatory body, the National Futures Association (NFA), to change the maximum leverage requirements for customers of forex dealer members (FDMS).

The amendments will limit the amount of leverage that can be used to trade what the NFA considers to be “major” and
“exotic” currency pairs – to be effective on Nov. 30, 2009. View the new maximum leverage rates here.

For all traders holding a forex account with the U.S. entity Global Futures & Forex, Ltd. (dba GFT), the NFA changes will
be implemented on Sunday, Nov. 29, 2009.

“Our customers should be aware of these new NFA requirements, and determine in advance how this may affect their
decisions and trading plan,” said Gary L. Tilkin, president and CEO, GFT.

If traders have open positions in these currency pairs at a higher leverage than the new maximum leverage required by the NFA, it will impact their margin requirement for those open positions.

“As always, exercise proper risk management and consider whether you need to deposit additional funds to be adequately capitalized for these new leverage rates, in accordance with your own trading plan,” said Tilkin.

As one option, GFT offers its customers the ability to change their lot sizes (e.g. 10,000, 20,000, etc.), which in addition to being properly capitalized is an alternate choice to trading higher leverage.

“We believe traders should understand how leverage can work both against you and for you, no matter which currencies they choose to trade, and that all traders should have choices to use leverage that is appropriate for his or her risk appetite,” said Muhammad Rasoul, executive vice president and COO, GFT.

GFT customers who reside outside of the US, Japan or Australia also have the choice to trade higher leverage by
smoothly and efficiently transferring their current account with their existing account settings to GFT’s U.K. affiliate (GFT Global Markets UK, Ltd.).

“We believe that it’s important for customers to work with a well-capitalized and regulated forex dealer, and we encourage traders to read more details about these regulatory changes on the NFA website,” said Rasoul.

View GFT’s latest capital numbers listed on the CFTC (Commodities and Futures Trading Commission) website as well as our regulatory record on file via the NFA (National Futures Association) website.
For more information, read our latest forex news.

Alpari (UK) grows beyond expectations

FXstreet.com — Tue, 27 Oct 2009 11:34:00 GMT

Alpari (UK), one of the world’s fastest growing providers of online foreign exchange (FOREX) continues its rapid global expansion, supported by a combined client growth of nearly 100 percent (98.56 %) at the company’s offices in London, Mumbai and Shanghai since the start of 2009. This exceeds ambitious internal plans, which assumed the doubling of client accounts only by the end of the year.

“We are very pleased to overachieve our targets this early in the year”, says Andrey Vedikhin, Alpari (UK) CEO. “We are more than ever committed to delivering cutting edge technology and competitive pricing to both retail and institutional traders. Earlier this year, on the retail side, we have reduced minimum spread, on average, by 25 percent and by up to 60 percent for some currency pairs. We are also making headway into the institutional market by launching Alpari Direct Pro, our Currenex® powered trading platform for institutional traders.”

To facilitate the ongoing expansion, Alpari (UK) have trebled their staff since January and recently moved into significantly larger offices in Bishopsgate in London. The company currently has 17 vacancies.
For more information, read our latest forex news.

Interbank FX to Exhibit at Sydney’s 2009 Trading and Investing Expo

FXstreet.com — Tue, 27 Oct 2009 11:29:00 GMT

Interbank FX (www.ibfx.com), a worldwide provider of online off-exchange retail foreign currency (Forex/FX) trading, will be participating in the ninth annual Trading and Investing Seminars and Expo. This expo will be held at the Sydney Convention & Exhibition Centre from Friday 30 October to Saturday 31 October.

With high powered seminars from over thirty of the most sought after local and international experts, the Trading & Investing Seminars & Expo will provide investors and traders of all levels with the most up-to-date information, insights and market data available today.

“Interbank FX is thrilled to be a returning exhibitor of this innovative Expo, complete with the latest investment products, trading platforms and software,” said Todd Crosland, Chairman and President of Interbank FX. “Australia is a very attractive market for us, and we look forward to presenting our vast array of trading tools and education to supplement their trading,” said Crosland.

To learn more about Interbank FX or to open a free demo account, visit http://www.ibfx.com/NewVisitor/forex-software.
For more information, read our latest forex news.

Top 10 Favorites on DailyFX.com

FXstreet.com — Tue, 27 Oct 2009 11:01:00 GMT

DailyFX.com (www.dailyfx.com) FXCM’s free news Web site, had a complete site overhaul and the new fresh, easier to navigate layout was launched last week. DailyFX is constantly expanding and improving its offerings, and has released a brand new version of the website. They’ve kept all the same great articles and resources that have made the site so popular, added some new ones, and made everything much easier to use.

Top 10 Favorites on DailyFX.com

1) Economic Calendar: An in-depth look on major event risk for major economies and currencies, which one can sort by Currency, Date, and Importance. Furthermore, the most important individual events all have detailed write-ups, complete with an indicator on typical market influence. After the event, the DailyFX team updates the numbers and often writes detailed insight on the report and comments on implications for affected currencies and broader trends. Traders can print this calendar out in PDF, XLS, and CSV format—making it convenient for many traders. http://www.dailyfx.com/calendar/

2) Analyst Picks | Daily, published throughout the trading day DailyFX.com will share their favorite trades. On Mondays, its "Pick of the Week" – Tuesday, they cover the EUR, Wednesday is the JPY, Thursday is GBP, and CHF, and Friday is AUD, CAD, and NZD pairs.
http://www.dailyfx.com/analyst_picks

3) Free Charts: Traders can access several different free charting packages and learn about more advanced options. The most popular are the Powercharts, Netdania, and FXTrek, while FXCM traders can also download our Marketscope platform to be used natively with the FX Trading Station. Each charting package offers its own unique advantages and features. http://www.dailyfx.com/charts/

4) DailyFX Forum: DailyFX analysts are actively involved in moderating threads and posting in the forum to ensure high quality and dynamic dialogue. The Forum offers open membership to anyone interested in forex markets, including clients of other forex brokers www.dailyfxforum.com

5) FXCM Speculative Sentiment Index | Weekly, published on Thursday
Given that FXCM is one of the largest non-bank forex dealers we believe that our SSI boasts access to one of the biggest and likely one of most representative samples of the broader small-investor Forex market. In our weekly SSI report, we give DailyFX readers a look at historical movements in the SSI and commensurate movements in price—providing a sentiment-based Forex forecast. http://www.dailyfx.com/technical_analysis/sentiment/

6) Market Brief | Daily, published at the start of each session, covering major Euro session occurrences and most importantly—the overlap between European and US trading sessions. The early US session and late European session is historically the most volatile time of day for major currency pairs, and knowing what to expect out of US open events is critical to everyday trading. http://www.dailyfx.com/forex_market_news/daily_briefings

7) Daily Technicals | Daily, published at 12 noon (EST)
Discussing individual technical outlook for the seven major US dollar crosses. Senior Strategist Jamie Saettele uses Elliott Wave analysis to give forecasts on major currencies. For the non-Elliotticians, DailyFX also offer an early morning Daily Classical report by Technical Strategist Joel Kruger, which uses more traditional technical methods to given relevant forecasts on those same currency pairs.
http://www.dailyfx.com/technical_analysis/elliott_wave/ and http://www.dailyfx.com/technical_analysis

8) Daily Fundamentals | Daily, published at 6 pm (EST)
The wrap-up of all major happenings through the preceding 24 hours of price action. The most-thorough summary and fundamental outlook of the day, it has detailed economic calendars with individual write-ups of the day’s occurrences. DailyFX recommends no trader go without reading the end-of-day fundamentals report. http://www.dailyfx.com/forex_market_news/daily_briefings/

9) Weekly Forecast | Weekly, published Friday at 6 pm (EST)
After market close Friday afternoon this weekly forecast covers the major fundamental events of the preceding week and outlook for the subsequent one. This is a detailed rundown of what to expect out of all 7 major US dollar pairs. http://www.dailyfx.com/forex_market_news/forecasts/

10) Monthly Forecast | Monthly
Both technical and fundamental forecasts available for the Month’s trading outlook.
http://www.dailyfx.com/forex_market_news/forecasts/
For more information, read our latest forex news.

Interbank FX named finalist in the Sixth Annual Stevie® Awards for Women in Business

FXstreet.com — Wed, 21 Oct 2009 09:43:00 GMT

Interbank FX, (www.ibfx.com), a leading provider of online off-exchange retail foreign currency (Forex/FX) trading services, has been named a finalist in the sixth annual Stevie Awards for Women in Business, honoring Marilyn McDonald, VP of Customer Experience in the “Best Executive—Service Business” category.

As a key member of Interbank FX’s management team, McDonald drives the conversation between Interbank FX and its customers. She is responsible for identifying and nurturing the experiences that each customer has with Interbank FX during their relationship—discovering new ways to improve their trading experience.

“I’m extremely appreciative that the Stevie Awards have recognized Marilyn’s success in building a strong Customer Experience program,” said Todd Crosland, Chairman and President of Interbank FX. “In a crowded marketplace, Marilyn is building a strategically focused customer loyalty program while retaining a highly motivated team.”

More than 1,100 entries were submitted this year for consideration in 54 categories, including Best Executive, Best Entrepreneur, and Best Community Involvement Program. Finalists were chosen by business professionals worldwide during preliminary judging. Members of the Awards' Board of Distinguished Judges & Advisors and their staffs will select Stevie Award winners from among the Finalists during final judging.

“I am honored to have the opportunity to fulfill a role for Interbank FX that is both challenging and rewarding,” said McDonald upon receiving the recognition.

Details about The Stevie Awards for Women in Business and the list of Finalists in all categories are available at www.stevieawards.com/women.
For more information, read our latest forex news.

DailyFX.com Re-launches Web Site: New Tools for Forex Traders

FXstreet.com — Tue, 20 Oct 2009 14:43:00 GMT

DailyFX.com (www.dailyfx.com) FXCM’s free news Web site, had a complete site overhaul and the new fresh, easier to navigate layout was launched this past weekend. With a wide international audience, it attracts over 7 million page views a month, making DailyFX.com one of the world’s leading news and information sources for the forex trading community. Now DailyFX readers have access to Mobile Alerts and the new Rollover Calendar.

DailyFX analysts produce over 30 articles and reports per day on the latest changes in the currency market, provide timely technical analyses, and close examinations of promising chart formations. DailyFX.com also makes predictions on market moves, explains the economic, political, and technical factors driving the market, as well as provides positioning and quantitative data.

Under the new leadership of Antonio Sousa and John Kicklighter, together with its staff of nine full-time analysts DailyFX.com will continue to provide its first-class forex content to millions of traders worldwide.

Learn how to navigate around the new DailyFX.com to find all of your favorite articles and some new exciting features: VIDEO: http://www.dailyfx.com/forex/video/guest_commentary/2009-10-19-1910-Tour_the_New_DailyFX_Site.html

What is New?

Mobile Alerts: Now you can start receiving market-moving economic data on your mobile phone. http://www.dailyfx.com/calendar/mobile_alerts/

Rollover Calendar: Know beforehand how many days of rollover will be applied to any particular trading day on any trading pair, and when a national holiday will affect rollover. http://www.dailyfx.com/calendar/rollover_calendar/

Trading the News LIVE: Now trade news events live with the DailyFX Analysts. An Analyst will answer your questions and give up-to-the-minute commentary on news events as they happen. http://forexforums.dailyfx.com/trading-news-live-coverage-dailyfx-analysts/

DailyFX is constantly expanding and improving its offerings, and has released a brand new version of the website. We’ve kept all the same great articles and resources that have made the site so popular, added some new ones, and made everything much easier to use. Let us know what you think by emailing us your feedback and suggestions to feedback@dailyfx.com.
For more information, read our latest forex news.

ACM – Advanced Currency Markets Raises Additional Share Capital

FXstreet.com — Tue, 20 Oct 2009 14:17:00 GMT

The shareholders of ACM (www.ac-markets.com), the top Swiss online currency trading firm, endorsed an additional capital raise of 10 million CHF during their latest general assembly.

The capital increase raises ACM’s overall share capital to 30 million CHF; a move financed solely by existing shareholders. The step solidifies ACM’s place as the most capitalized Forex broker in Switzerland.

Reinforcing the framework surrounding the firm’s banking licence, the enlargement demonstrates ACM’s commitment to autonomy, strength and durability.

“The increase guarantees our independence while freeing ACM to dedicate further resources to both enlarging our investment offering and tackling new markets” said Lloyd La Marca, CEO and co-founder of ACM.

From its inception, ACM (www.ac-markets.com) has grown to meet the needs of its expanding client base – founded in Geneva, the company now maintains offices in Zürich, New York, Dubai and Montevideo. The Swiss firm offers efficient and affordable FX trading with no dealing-desk intervention to private individuals as well as institutional clients.

www.ac-markets.com
For more information, read our latest forex news.

dbFX holds latest in series of ‘Psychology of trading’ webinars for forex traders

FXstreet.com — Tue, 20 Oct 2009 14:04:00 GMT

dbFX.com, Deutsche Bank’s online retail foreign exchange (FX) trading platform, is holding the latest in its series of webinars to help traders better understand the psychology of their trading.

Dr Doug Hirschhorn, known as ‘Dr Doug’, a leading peak performance coach on Wall Street, will host the webinar on the 21st of October at 7.30pm British Standard Time (BST), 2:30pm Eastern Standard Time (EST) and is titled ‘The psychology of taking profits and losses’.

During the live webinar, Dr Doug will outline the reasons why traders can often find themselves in the right trades when trading forex but then get out too soon or conversely, have a tendency to hold on to their losses too long. The seminar will also help traders to better understand what a good or bad loss is. Attendees will also have the opportunity to submit questions before and during the webinar which will be answered at the end.

The webinar will be available to view at anytime for a 24-hour period from Wednesday 28 October 4pm BST, 12pm EST, so that different time zones have the opportunity to see and hear the session. Those interested in taking part should visit www.dbfx.com/drdoug to register and find out more information.

Betsy Waters, global director of dbFX.com, commented: “The first three of our webinars have been very popular with FX traders who want to get a better sense of their trading habits, rather than just understanding currency trends and strategies.

“The final webinar in this series looks at the ‘right’ and ‘wrong’ reasons to take a profit, as well as helping investors to understand what constitutes a ‘good’, and what constitutes a ‘bad’ loss – because it’s important to understand the difference when making trading decisions.”

Launched in 2006, dbFX.com is available in multiple languages, has 34 currency pairs and is accessible in more than 82 countries around the world. The platform was named ‘Best Retail Platform’ by Profit & Loss in 2008 and brings the benefits of Deutsche Bank’s award winning expertise in foreign exchange to clients, with Deutsche Bank ranked the No. 1 Foreign Exchange Bank in 2009 by Euromoney magazine for the fifth year running*.

The website can be accessed at: www.dbfx.com

* Euromoney Foreign Exchange poll 2009
For more information, read our latest forex news.

CitiFX Pro Launches on MetaTrader

FXstreet.com — Fri, 16 Oct 2009 09:14:00 GMT

Citi today announced CitiFX Pro, Citi’s online foreign exchange (FX) trading platform for active individual and small institutional traders, is now available on MetaTrader, the global leader in technical analysis and programmatic FX trading. CitiFX Pro will enable MetaTrader’s rapidly growing global user network to realize reliable round-the-clock liquidity and highly competitive pricing. More information is available at www.citifxpro.com/meta.

“CitiFX Pro is an ideal fit for the MetaTrader community,” said Sanjay Madgavkar, Head of CitiFX Pro. “MetaTrader users around the world can now benefit from the liquidity and pricing benefits of trading with Citi, a global leader in FX”.

“MetaTrader is delighted CitiFX Pro will be available to our clients,” said Gaies Chreis, Deputy CEO of Metaquotes. “This is a tremendous opportunity for MetaTrader users to develop a relationship with the premium name in FX trading”.

Boston Technologies, a leader in technology for the retail FX business and small institutional space, is providing the technology and the customer support required to connect CitiFX Pro with the MetaTrader community.

MetaTrader provides a user-friendly trading interface that includes technical analysis, charting and Expert Advisor programs which allow users to create either a personalized trading system or deploy third party pre-programmed trading systems.

CitiFX Pro offers clients the ability to access state-of-the-art trading capabilities in more than 130 currency pairs in addition to award-winning research and FX market commentary free of charge and 24-hour personal customer support. CitiFX Pro also offers unlimited FDIC coverage on US dollar margin deposits. To learn more about CitiFX Pro and sign up for an account visit www.citifxpro.com.
For more information, read our latest forex news.

Alpari (US) now offering flexible spreads on Metatrader 4 Platform

FXstreet.com — Thu, 08 Oct 2009 13:13:00 GMT

Alpari (US), LLC, a regulated Foreign Exchange company and global provider of online Forex trading, announced today that the company has introduced flexible spreads for all currency pairs. Flexible spread minimums will be reduced on average 30% and up to 60% for some currency pairs, compared with previous fixed spreads. The spreads will naturally widen during certain times of the day, periods of lower liquidity and when there is increased market volatility.

Olga Rybalkina, CEO of Alpari (US), LLC, commented: "With the introduction of additional price feeds, clients can access significantly tighter spreads as we pass on the benefits available to us from the Interbank market. Flexible spreads will also bring a greater degree of price-transparency to clients' trades along with institutional-level pricing and lower transaction costs."

Traders will now have access to the multibank feeds available to Alpari from liquidity providers such as JP Morgan, UBS, Duetsche Bank and Barclay's Capital. Ms. Rybalkina adds, "This initiative is one of our first steps in providing our clients with better trading terms. We look forward to having the opportunity to tighten our spreads further in the future."

The introduction of flexible spreads provides clients with a better indication of actual market conditions and insight on institutional trading. Fully understanding the dynamics of flexible spreads is the key to more informed and responsible trading with Alpari (US). Alpari Academy will soon feature new materials on the topic of spreads.

For more information in regards to creating a demo account, please visit www.alpari-us.com.
For more information, read our latest forex news.

FOREX.com to Host Live Webcast to Provide Analysis and Commentary on Foreign Exchange and Commodity Markets

FXstreet.com — Tue, 29 Sep 2009 15:17:00 GMT

WHAT:
FOREX.com will host a live teleconference and webcast offering a brief Q3 foreign exchange (forex) and commodity markets recap followed by detailed analysis and commentary on expected Q4 market trends in forex and key commodity markets such as gold and oil.

WHO:
Presenters are:
-Brian Dolan, chief currency strategist, FOREX.com

-Jane Foley, director of research, FOREX.com UK

-Jacob Oubina, currency strategist, FOREX.com

WHEN:
Tuesday, Oct. 6, 2009; at 10:00AM Eastern; 3:00PM British Summer Time

WHERE:
Via Teleconference/Web

(U.S. toll free) 800-860-2442; or (International) 001-412-858-4600 (ask for FOREX.com)

http://www.videonewswire.com/event.asp?id=62107

DETAILS:
The FOREX.com Markets Outlook will offer expert analysis and market commentary from the company’s international team of currency strategists and economists. There will be a question and answer session following the formal presentation. The webcast will be archived on www.forex.com and will be available for playback on demand.

GAIN Capital Holdings, Inc. is a global provider of online trading services, specializing in foreign exchange (forex or FX) and contracts for difference (CFDs). Customers and trading partners in more than 140 countries have utilized the company’s award-winning trading platform which transacts nearly $200 billion per month.
For more information, read our latest forex news.

dbFX uses social media to engage with FX Traders

FXstreet.com — Mon, 28 Sep 2009 15:11:00 GMT

dbFX, Deutsche Bank’s online retail foreign exchange (FX) trading platform is using social media sites such as Twitter, YouTube, Facebook and LinkedIn to connect with FX traders and attract new visitors to dbfx.com site.

The Twitter page is updated regularly by dbFX staff members and offers news and updates from the team, including announcements of future webinars and seminars and market information.

13 video tutorials have been uploaded onto YouTube which demonstrate how to use the dbFX trading platform, as well as an introduction to the Dr. Doug Hirschhorn video series on the ‘Psychology of Trading.’

“Our clients are highly sophisticated users of online tools and we want to be able to better engage with them in a format that is most efficient and convenient. Social media offers opportunities for instant dialogue and information sharing which is key for traders in the dynamic FX market place.” said Betsy Waters, Global Director, dbFX.

Social media sites are extremely active with YouTube and Twitter receiving over 20 million and 3 million unique visitors* respectively every month – enabling users to communicate instantly online on a personal level.

Launched in May 2006, dbFX.com is available in multiple languages, has 34 currency pairs and is accessible in more than 70 countries around the world. It brings the benefits of Deutsche Bank’s award winning expertise in foreign exchange to clients, with Deutsche Bank ranked the No. 1 Foreign Exchange Bank in 2009 by Euromoney magazine for the fifth year running+.

The platform can be accessed at: www.dbfx.com

*ComScore 2009

+ Euromoney Foreign Exchange poll 2009
For more information, read our latest forex news.

GAIN Capital Launches FOREXTrader PRO, New Version of its Award-Winning Margin Trading Platform

FXstreet.com — Mon, 28 Sep 2009 14:10:00 GMT

GAIN Capital Holdings, Inc., a global provider of online trading services, today announced the release of FOREXTrader PRO, the latest version of its award-winning margin trading platform for active traders.

“Forex traders demand cutting edge tools. Our goal is to stay ahead of the curve with our proprietary trading technology and deliver a competitive advantage to our customers and partners,” said Glenn Stevens, CEO, GAIN Capital. “The new FOREXTrader PRO is a robust solution for active traders looking for advanced technical analysis capabilities, sophisticated order management and the ability to customize their trading environment to their specific needs.”

FOREXTrader PRO delivers a sleek new user interface designed to improve overall usability and deliver faster trade execution, while enhanced charting tools offer improved decision support. Platform features include:

• Enhanced charting tools with over 70 technical indicators, including Ichimoku, Fibonacci Extensions and Projections, customizable indicators for advanced technical analysis, improved line-based drawing tools, and the ability to view multiple charting windows simultaneously
• Improved chart-based trading, including streamlined order entry and position management features
• Upgraded newsfeed from market-leading provider Dow Jones Newswires
• User-defined order execution based on trading strategy and market conditions. Choose between ‘trade at rate’ and ‘trade at market’.
• Enhanced interface with advanced customization features, detach and docking functions and more. Use predefined layouts, personalize & save custom templates.

FOREXTrader PRO is now available globally. Customers of GAIN Capital’s FOREX.com division can upgrade to the new version of the platform by visiting http://www.forex.com/land-windows.html. Prospective FOREX.com customers can test drive the new platform by signing up for a free 30-day practice account at http://www.forex.com/forex_demo_account.html?source=windows.
For more information, read our latest forex news.

ACM – New Account Types and Trading Conditions

FXstreet.com — Thu, 17 Sep 2009 09:37:00 GMT

ACM (www.ac-markets.com), world leader in online currency trading, has further enhanced its trading conditions for FX traders.

The Swiss broker has widened its account offering to encompass its rising number of both retail and institutional clients. Drawing from an ever-growing liquidity network, institutional clients will now enjoy tighter spreads such as 0.9 pips on the EURUSD. Retail clients will continue to benefit from ACM’s reliable execution system complemented by 4 customizable, no-fee platforms.

Clients may now choose from 6 different account types:

Mini, Standard, Premium, Professional, Institutional and Institutional+

Each account type offers tailored conditions allowing traders of any size to successfully plan and implement efficient trading strategies.

“This new account typology complemented with our execution conditions undoubtedly places ACM on top as far as large accounts or Institutional clients are concerned” stated Nick Bang, co-founder and managing director of ACM.

From its inception, ACM (www.ac-markets.com) has grown to meet the needs of its expanding client base – founded in Geneva, the company now maintains offices in Zürich, New York, Dubai and Montevideo. The Swiss firm offers efficient and affordable FX trading with no dealing-desk intervention.
For more information, read our latest forex news.

GAIN Capital Launches FOREX.com in Japan

FXstreet.com — Wed, 16 Sep 2009 09:35:00 GMT

GAIN Capital Holdings, Inc. (GAIN Capital), a global provider of online trading services, today announced the launch of FOREX.com, its award-winning margin foreign exchange (FOREX or FX) trading service, in Japan (http://jp.forex.com).

"Japan is a very important market for us. FX as an asset class is popular among Japanese investors and we believe that the retail FX market in Japan will continue to grow," said Glenn Stevens, CEO of GAIN Capital. "While we have been operating in Japan for the past seven years through our white label partners, we are excited to finally have the opportunity to introduce our full capabilities to the Japanese market," continued Mr. Stevens.

Earlier this year, GAIN Capital announced it had acquired a majority interest in Japanese retail FX provider Fortune Capital Co. Ltd., a GAIN white label partner since 2002. The company was subsequently renamed GAIN Capital Japan
and now offers FX trading services to Japanese retail investors under the FOREX.com brand name. GAIN Capital Japan maintains a Tier 1 securities license with Japan's Financial Services Agency (FSA) and client funds are held in a separate trust bank account.

According to Japanese research firm Yano Research Institute, Ltd., retail FX trading volume in Japan increased an estimated 35% in the past year, from approximately 740 trillion yen in March 2008 to over one quadrillion yen in March 2009. In addition, the number of accounts was expected to reach 1.79 million up, 44.9% over the same time period.*

FOREX.com Japan features a fully localized version of its award-winning proprietary trading platform, FOREXTrader PRO, as well as the popular MetaTrader 4 platform. Competitive dealing spreads, quality execution, and premium trading tools, including advanced charting and daily and weekly research, along with mobile trading capabilities, enable retail investors to easily and informatively trade 37 of the world's major currency pairs.

Wee Pin Tan, Managing Director of GAIN Capital Japan and founder of Fortune Capital, added, "Leveraging the resources and expertise of a well-capitalized, global company will enable our Tokyo-based team to deliver world-class
products and services tailored specifically to the needs of the retail Japanese trader, while upholding GAIN's high standards for reliability and customer service."

To learn more about FOREX.com Japan and to register for a free practice account, go to http://jp.forex.com.

* "Foreign Exchange Margin Trading Market in Japan 2008," Yano Research Institute Ltd. November 2008.
For more information, read our latest forex news.

Alpari (UK) tightens minimum spreads

FXstreet.com — Tue, 15 Sep 2009 10:54:00 GMT

Alpari (UK), one of the world’s fastest growing providers of online foreign exchange (FOREX) services, announced that it will pass on tighter spreads from its multiple liquidity providers to its clients by introducing flexible spreads. Flexible spread minimums have been reduced, on average, by 25 percent and by up to 60 percent for some currency pairs. This is achieved through Alpari (UK)’s best bid-offer pricing technology and excellent relationship with its partner banks, which brings an even greater degree of price-transparency to clients’ trades and reduces transactional costs.

Speaking about this latest strategic decision, Andrey Vedikhin, Alpari (UK)’s CEO, said: ‘The introduction of significantly lower minimum spreads across all currency pairs and precious metals supports our commitment to offer our clients an institutional-level trading experience and to provide them with the most accurate Forex pricing, best execution and wider market access. This switch comes in response to the growing demand for lower trading costs and tighter spreads among the trading community. We will continue to take every opportunity to further tighten our spreads in the future’.

Flexible spreads narrow or widen depending on the time of the day, market liquidity and volatility. Fully understanding the dynamics of flexible spreads is key to making informed trading decisions. In order to assist their clients, Alpari (UK) will soon launch online tutorials explaining all the benefits and characteristics of flexible spreads, as part of their educational programme, Alpari Academy.
For more information, read our latest forex news.

Interbank FX Extends Promotion Into September

FXstreet.com — Mon, 14 Sep 2009 14:53:00 GMT

Interbank FX, LLC, a leading provider of online off-exchange retail foreign currency (Forex/FX) trading services, announced this week plans to extend their August promotion into the month of September based on customer response rates.

Interbank FX’s promotion includes a free $50 FX live account for new customers. Even better, Interbank FX is offering a 10% deposit match on all deposits in September. This applies to all customers and is available to the public.

Extending this promotion comes in response to Interbank FX’s commitment to satisfying the needs of their customers.

“This particular promotion is back by popular demand,” said Todd Crosland, chairman and president of Interbank FX. “We’re listening to our customers, and are conscious of the best ways to serve them.”

By funding today, customers will continue to experience the many things that set Interbank FX apart from other online brokers, including:

* Full access to real-time Dow Jones FX Select news
* Award-winning customer service
* Competitive spreads and great execution (Spreads are not fixed and may widen in volatile market conditions)
* Multi-bank liquidity and much more!

For more information about Interbank FX and to open your own account today, please visit the company’s Web site at www.ibfx.com.
For more information, read our latest forex news.

CMS Forex UK launches

FXstreet.com — Wed, 02 Sep 2009 15:49:00 GMT

Capital Market Services LLC, a worldwide leader in online Forex trading, is expanding with the launch of its FSA regulated subsidiary and affiliate in the United Kingdom - CMS Forex UK (www.cmsfx.co.uk).

Headed by Damien Francis and Alex Hartley, CMS Forex UK will bring its unique combination of personalised customer service and advanced FX technology to both institutional and private clients in the UK and overseas.

Clients will have access to CMS Forex’s full suite of services including: its own advanced trading platform VT Trader; the popular CMS MetaTrader4; free market analysis and education; quality trade execution; and competitive spreads. CMS Forex UK will offer several unique products and trading terms not offered at CMS Forex in the USA, including the ability to hedge trades, flexible use of stops and limits, up to 400:1 leverage and fully segregated accounts. In the coming months, further new products will also be added including Commodities and CFDs.

“Since our inception in 1999, we have been steadily expanding in the Forex industry and growing our global footprint,” said Vera Hawkin, CEO of Capital Market Services, LLC. “Launching this new office will allow us to provide even more personalised care and enable us to better cater to clients from the UK and overseas”.

Damien Francis added: “I am thrilled to be joining CMS Forex, and am proud to be leading the development of this key strategic office. Looking after our customers will be our number one priority and I am particularly excited about introducing them to VT Trader. This will enhance our clients’ trading experience via web, mobile or desktop, through powerful trading, charting and news tools, with a high degree of customisation. We also have the unique opportunity of building and developing the right team of staff from scratch – new key hires will be made in the coming months.

Until recently Damien Francis was a Board Director and Head of Marketing at ODL Securities, where he was instrumental in turning the business into a leading retail brand, and helping to develop the trading house’s global expansion strategy. He is joined by Alex Hartley as Compliance Director. Hartley has over 24 years global compliance and board level experience including roles at Lehmans, West LB, IFX Markets and ODL Securities.
For more information, read our latest forex news.

Foreign Exchange Leader GFT Deploys Clickatell to Connect Traders to Fast-Paced Currency Market Prices Using Real Time SMS

FXstreet.com — Tue, 01 Sep 2009 10:01:00 GMT

Global Forex Trading (GFT), a worldwide leader in online currency trading, is working with Clickatell to provide real-time SMS alerts to its network of registered traders serving ~120 countries. Traders using GFT's forex trading platform, DealBook® 360, can opt-in to receive text message alerts to be immediately informed of critical market news, analysis, commentary, changes in markets prices, deal-closure notifications, and order limit status, to help traders make informed decisions when seizing critical up-to-the-minute opportunities in this $4 trillion dollar per day market. GFT has more than 20,000 traders registered worldwide to receive SMS alerts and sends over 50,000 messages per day.

"As forex trading increasingly appeals to a greater retail sector, companies like GFT are working aggressively to provide tools and information that not only encourage a safe trading environment, but also help traders maximize their returns. Our DealBook® suite of trading platforms is designed for trading online spread bets and spotting foreign exchange and contracts for differences," said Muhammad Rasoul, executive vice president and COO, GFT. "Clickatell has proven their ease of use and reliability, and our customers depend on receiving real-time critical data using Clickatell SMS to guide decisions, minimize potential risks and most of all, to profit," said Rasoul.

Forex trading is regarded as one of the world's main financial markets with a global daily average in turnover estimated at $3.98 trillion, concentrated mostly from London, New York and Japan. Euromoney's FX2009 report says foreign exchange is responsible for driving record profitability for institutions, despite the credit crunch that started 12 months ago. Another contributing factor to the exponential growth in turnover is the increase in number of individual retail traders and institutions turning to forex trading to profit. Currency trading markets operate 24 hours a day and 5.5 days a week, where most retail traders have other jobs and hectic schedules. Mobility via SMS offers the perfect solution, giving traders flexibility and necessary communications to track markets, stay informed, trade, and ultimately profit.

"In 2008, 50% more trades took place via mobile than the previous year, and the market is expected to double again by 2011," said Pieter de Villiers, Clickatell CEO. "Clickatell's expansive international network coverage and tested solutions allow traders the freedom of mobility and confidence that regardless of where they are, the critical data they need is within arm's reach. With SMS, they can make fast decisions, a critical factor in today's economic climate where traders would rather be safe than sorry."
For more information, read our latest forex news.

Interbank FX Named Third Fastest Growing Company in Utah

FXstreet.com — Mon, 31 Aug 2009 15:28:00 GMT

Interbank FX, a worldwide provider of online off exchange retail foreign currency (Forex/FX) trading services, has been named the third fastest growing company by Utah Business magazine’s Fast 50 awards program. Since inception, Interbank FX has continued to see enormous growth, increasing revenues by nearly 60,000% from 2004 through 2008.

“Achieving a top Fast 50 ranking for the second year in a row is tremendous honor and a testament of our over 175 hard working employees, without whom none of this would be possible,” said Todd Crosland, Chairman and President of Interbank FX. “We are committed to expanding the functionality and capabilities of our wide array of trading services and tools—continuing our momentum as we span the globe. We thank the Utah business community for recognizing our efforts.”

Throughout 2009, Interbank FX’s strong commitment to customers has allowed continued achievement, as illustrated by the following company milestones:

· Customers in over 140 countries.

· Over 35,000 customer accounts.

· Current Net Capital in excess of $35,000,000 (May 31, 2009).

· Customer access to Interbank FX’s multi-bank liquidity feed, meaning competitive spreads, 100 percent automated execution and smart routing to World Money Center Banks.

· 2009 Inc. 500’s eighth fastest growing company within financial services sector, 208th overall

· 2009 Trader’s Choice Award- FOREXDS.

· 2009 Best Mobile Forex Trading Platform- World Finance Magazine.

· 2009 Best Foreign Exchange Broker and Online Education Provider- Money AM Online Finance Awards.

“Utah Business magazine is proud to honor Interbank FX in the Fast 50 program, which honors Utah’s fastest-growing and top revenue-generating companies. Interbank FX, which made the no. 3 spot on the Fast 50 list, deserves recognition for the strength it brings to Utah’s business community,” says Sarah Ryther-Francom, managing editor of Utah Business magazine.

The Utah Fast 50 program was designed to recognize companies for their entrepreneurial spirit, innovative business tactics and skyrocketing revenue growth. Other quality contenders at this year’s event included Monavie, featuring an exclusive açai berry juice blend and web analytics company Omniture. Interbank FX was honored at the event in Salt Lake City on August 27th and will be featured in Utah Business magazine's September issue.

To learn more about Interbank FX or to open a free Forex practice account, visit www.IBFX.com.
For more information, read our latest forex news.

FXCM: Forex Trading Contest Offers $40,000 in Cash

FXstreet.com — Mon, 31 Aug 2009 14:50:00 GMT

FXCM Micro’s monthly forex trading contest starts tomorrow, September 1st, 2009. $25,000 in cash is awarded to the trader with the highest monthly trading return; $10,000 is awarded for second, and $5,000 for third place. FXCM Micro wants you to be the king!

Click here to watch a live chat question and answer session with a recent two time King of the Micro winner, on how he trades. http://forexforums.dailyfx.com/trading-pit-walker/98551-interview-king-live-11-00-et-08-31-a.html (Recorded Monday August 31, 2009 at 11:00 am EST)

The popular currency trading contest has been running for over four years and is free to participate in. King of the Micro is available to clients all around the world. Recent winners have come from the United States, China, Malaysia, and Canada.

All participants of the King of the Micro contest will receive the FXCM Power Course free to improve their chances to be King.

There is no registration needed, and the requirements are simple: all FXCM Micro clients with $500 in their Micro account at the beginning of the month are automatically entered. And traders must make at least ten trades during the month.

For more information on the King of the Micro contest, to read the full contest rules, and to deposit money into your FXCM Micro account, click here.

FXCM Micro is the discount brokerage division of FXCM. Traders may open an account and start trading with as little as $25 to enjoy FXCM Micro’s super-low spreads, automated execution, and 1k lot sizes. FXCM Micro is offered for individual, self-traded accounts.
For more information, read our latest forex news.

FXCM Takes on Leading CFD Providers: Offering Forex, Stock Indices & Commodity CFDs

FXstreet.com — Mon, 31 Aug 2009 13:24:00 GMT

FXCM Ltd. (www.fxcm.co.uk), a leader in the retail forex business will now offer a CFD product focusing on forex, global stock indices, oil, and precious metals.

Key features of online CFD trading with FXCM include:

. No re-quotes
. Competitive pricing
. No commissions*
. Generous leverage
. Single position accounts with hedging capabilities
. Benefits from dividends
. Guaranteed no deficit account balance as a result of trading with no extra fee

By trading CFDs with FXCM, retail clients benefit from FXCM’s close banking relationships with ten of the largest and most aggressive price providers who supply clients with large pools of liquidity and highly competitive spreads, even during market-moving news events. Furthermore, FXCM believes that the new index, commodity, and precious metal CFD instruments will complement their existing forex business and appeal to more retail clients globally, enabling them to trade a range of products from a single trading account.

FXCM executes your trades with no re-quotes. Some CFD brokers trade against their clients and will re-quote in order to make money on your trades, which creates a conflict of interest. FXCM will not interfere in your trading by re-quoting your trades.

Brian Griffin, Executive Director for CFDs at FXCM says:
“FXCM has some of the best people in the industry and feel that it is only a matter of time before FXCM claims its place as a significant provider in the global CFD industry.

Everything we do at FXCM is driven by client demand. Our clients have long asked to apply the no re-quote business logic we adopted for our award winning forex service to the index, oil, and metal CFD market-place.

This is what we have doneno re-quotes for our CFD products. I believe we have created the industry’s fairest retail trading platform. We welcome all clients who are frustrated with their current forex and CFD provider to give us a try.”

Open a free practice account and begin trading CFD’s with FXCM Ltd. http://www.fxcm.co.uk/free-forex-accounts.jsp

For further information on CFD market news and analysis please visit FXCM’s free news Web site www.CFDTrading.com.
For more information, read our latest forex news.

GAIN Capital's FOREX.com Expands Product Offering with Addition of Oil Trading

FXstreet.com — Thu, 27 Aug 2009 15:04:00 GMT

GAIN Capital, a global provider of online trading services, today announced that its FOREX.com UK division has added Brent crude oil to its award-winning FOREXTrader platform, enabling clients to trade oil alongside global currencies and spot metals.

"Economic fundamentals have become a significant driver of oil prices. This factor and the inverse relationship between oil and the U.S. dollar means trading oil is a fairly natural extension and an interesting alternative to currency trading," comments Jane Foley, Director of Research for FOREX.com.

"In addition, many currency traders already closely follow the price of oil, and commodities are increasingly popular with retail traders as they look for opportunities to generate positive returns outside traditional equity markets," adds Matthew Wright, Regional Director for FOREX.com in Europe.

FOREX.com offers Brent crude oil (BCO) as a Contract for Difference (CFD) with five percent margin and the flexibility to trade small contracts from just one lot, representing 100 barrels. The FOREX.com BCO contract tracks the current price of Brent crude on the Intercontinental Exchange (ICE). In addition to premium trading tools such as real-time charts and news, clients will also receive daily market commentary and analysis from the FOREX.com research team on the latest market trends impacting the price of oil.

Glenn Stevens, CEO, GAIN Capital, concludes, "Having launched gold and silver contracts on our FOREXTrader platform earlier this year, oil is the next logical step in our product expansion. We will continue to add new products to all of our platforms to help our clients take advantage of global trading opportunities."

Prospective traders can register online at www.forex.com/uk to learn more and to register for a free practice account to test oil trading strategies in a risk-free environment.
For more information, read our latest forex news.

Interbank FX Named to 2009 Inc. 500

FXstreet.com — Fri, 14 Aug 2009 15:33:00 GMT

Interbank FX recognized as the 208th fastest growing company in the U.S., 8th fastest growing company within financial services sector-

Salt Lake City — August 12, 2009— For the second consecutive year, Interbank FX (IBFX.com), a provider of online off exchange retail foreign currency (Forex/FX) trading, was named to Inc. magazine's renowned Inc. 500—an annual ranking of the fastest growing privately held companies in the United States. With a three year growth rate of 987.9% and annual revenue of $62.8 Million, Interbank FX placed an impressive 208th on the coveted list and ranked as the 8th fastest growing company in the Financial Services category.

"It is an honor to be recognized once again for such a prestigious award among such an elite group of U.S. businesses,” said Todd Crosland, Chairman and President of Interbank FX. “This acknowledgment from Inc. is a tribute to the loyalty of our more than 35,000 customers in over 140 countries around the world, as well as a testament to the hard work and dedication of the 175 employees at Interbank FX.”

Interbank FX takes pride in its world-class customer service, and the inclusion in this year’s Inc. 500 is the latest in a myriad of corporate accolades the company has received in 2009. Below is a list of significant milestones and recognitions the company has received thus far:

Todd B. Crosland, Utah Business Magazine’s 2009 CEO of the Year
Jon Pexton, Utah Business Magazines 2009 CFO of the Year Financial Champion
Marilyn McDonald, American Business Awards 2009 Marketing Executive of the Year Finalist
Marilyn McDonald, Utah Business Magazine’s 30 Women to Watch
Trader’s Choice Award 2009- FOREXDS
Best Mobile Forex Trading Platform 2009- World Finance Magazine
Best Foreign Exchange Broker 2009- Money AM Online Finance Awards
Best Online Education Provider 2009- Money AM Online Finance Awards

“Interbank FX continues to uphold the upmost integrity and transparency for our customers, facilitating successful trading,” said Crosland. “We look forward to continuing to raise the bar for 2009 and beyond.”

Complete information on this year's Inc. 500, including company profiles and a list of the fastest-growing companies by industry and region, can be found at www.inc5000.com.

Interbank FX will be featured in the September issue of Inc. magazine (on newsstands Aug. 17).
For more information, read our latest forex news.

M I G introduces Micro Step Lot Trading and a chance to watch Formula One LIVE in Abu Dhabi!

FXstreet.com — Wed, 12 Aug 2009 11:58:00 GMT

NEW! M I G Investments Offers Micro Step Lot Trading! For better control over your market exposure, UP your risk management with Micro Step Lot trading. Our step lot increments allow for even more flexibility, an excellent option for news‐event traders, and ideal for new traders aiming to master their trading skills. Step Lot trading begins at 0.1 lot and permits increments of 0.1, 0.11, 0.12 etc. For more information, contact Sales Support at + 41 32 722 81 00.

The Road to F1 FOREX CHAMPIONSHIP
Are you ready to test your Forex skills to win a trip of a lifetime to watch FORMULA ONE LIVE in Abu Dhabi? Play M I G’s The Road to F1 FOREX Championship and you could win two VIP Paddock Tickets, two Round‐Trip Flights, including fine accommodation, to watch, hear, and infuse yourself at the last GP of the 2009 FORMULA ONE season at the Yas Marina Circuit in Abu Dhabi. It promises to be a real showdown!
The challenge is on. Sign up NOW for your Championship DEMO Account (no obligations) and Trade Forex to win. Visit the Road to F1 FOREX CHAMPIONSHIP website for more details on how to play and subscribe. Good trading and good luck!
For more information, read our latest forex news.

dbFX partners with leading Wall Street performance coach for series of online trading seminars

FXstreet.com — Wed, 05 Aug 2009 14:30:00 GMT

‘Dr Doug’ webinars will examine the ‘psychology of trading’
First of the four seminars significantly over-subscribed

LONDON, 4 August, 2009 - dbFX.com, the online retail foreign exchange (FX) trading platform of Deutsche Bank, announced today it is holding a series of free webinars to help traders better understand the psychology of their trading.

‘Dr Doug’, a leading peak performance coach on Wall Street, will conduct four initial seminars in partnership with dbFX.com and examine in greater depth the psychology of trading and help traders to better understand their trading habits.

The first of the four seminars, which are free for all, was held on Wednesday 29 July, with hundreds of traders signing up to take part. This webinar will be replayed twice at different times so that each time zone has the opportunity to see and hear the session

The next webinar is taking place on 18 August 2009 and those interested in taking part should visit www.dbfx.com/drdougwebinar to register.

The seminars will include the following topics:

· Learning the skill of patience and giving common reasons why traders lose their patience when trading

· Measuring success by the quality of a trade rather than by the amount of profit / loss it makes

· Offer the five ‘right’ and five ‘wrong’ reasons to take a profit as well as the difference between ‘good’ and ‘bad’ trades

The final two webinars will be held over the next few months.

Betsy Waters, Global Director of dbFX.com, commented: “Effective trading is not just about understanding strategies and correctly picking trends, but also understanding your own trading habits and why we behave the way we do when making trades.

“Dr Doug is partnering with dbFX.com to provide traders with significant insight into their trading behaviours, as well as provide tips on how to help keep emotions in check and ensure that trades are made in the right frame of mind.

“Our first seminar has proven to be a huge success, and we urge those interested in taking part to visit dbFX.com and sign up online.”

Launched in 2006, dbFX.com is available in multiple languages, has 34 currency pairs and is accessible in more than 70 countries around the world. The platform was named ‘Best Retail Platform’ by Profit & Loss in 2008 and brings the benefits of Deutsche Bank’s award winning expertise in foreign exchange to clients, with Deutsche Bank ranked the No. 1 Foreign Exchange Bank in 2009 by Euromoney magazine for the fifth year running*.

The platform can be accessed at: www.dbfx.com
For more information, read our latest forex news.

Alpari (US) announces full compliance with NFA rule 2-43 (b)

FXstreet.com — Tue, 28 Jul 2009 09:27:00 GMT

Alpari (US), a regulated Foreign Exchange company and global provider of online Forex trading, announced today that it will be maintaining full compliance with the new NFA Rule 2-43 (b), which requires orders be executed on a First In, First Out (FIFO) basis when multiple positions are held in the same currency pair. This means that the position which was first opened will be the first to be closed, but stop-loss and limit orders will still be able to be placed on Alpari (US) accounts.

Commenting on the new NFA rule, Olga Rybalkina, CEO of Alpari (US), said, “We fully embrace NFA’s new FIFO rule since it provides greater transparency for our customers and conforms to the standards in place in the broad, exchange-traded foreign exchange market. When the NFA first issued these new rules, we began working diligently with MetaQuotes Software Corp., on an upgrade to MT4 which is fully compliant with new FIFO/offsetting rule. Alpari (US) traders have also been able to download from our website a demo version of MT4 to practice with the FIFO-compliant features that MetaQuotes added to MT4. More importantly, the NFA has been kept fully abreast of our initiatives in this area and has had an opportunity to review them.”

Added Ms. Rybalkina,” We are providing our clients with the comprehensive information and educational tools to ensure that the implementation of this rule is a smooth transition for them.” Alpari (US) has prepared a special instructional video for clients on FIFO that takes them through the FIFO changes, step by step, and which can be accessed on our web site, www.alpari-us.com. As of July 27, 2009, traders will be able to visit the Alpari (US) website to access educational information on FIFO and watch this instructional video tutorial on trading using the new NFA-compliant features added to MT4. Alpari (US) has also begun work on a proprietary software program which will add enhanced trading capabilities and functionalities to MT4, yet still remain in compliance with FIFO.

In addition, several email blasts beginning today will be sent to clients alerting them to the FIFO changes that take effect at the end of trading on July 31, and commence on Monday, August 2nd. All clients’ pending orders will be closed as of the end of trading on July 31st to conform with the new FIFO rule.
For more information, read our latest forex news.

GFT’s FX360 App Ranks 8th Among “The Top 20 Investing Apps for iPhone and iPod Touch”

FXstreet.com — Thu, 23 Jul 2009 14:34:00 GMT

GFT’s FX360.com ranks 8th among top 20 investing applications for financial news, trading and analysis, according to the popular Penny Sleuth website that ranked the best investing apps for the iPhone earlier this year.

“The FX360 app is your mobile window into the world of currency trading,” the editors of the site said.

The free FX360 app offers real-time forex quotes and around the clock commentary from GFT Currency Co-directors of research Kathy Lien and Boris Schlossberg.

“If you’re new to the currency markets, the research and analysis you’ll find at FX360 should provide you with plenty of fundamental and technical ideas to get started in trading forex,” said Boris Schlossberg, director of currency research, GFT.

With the release of the iPhone 3GS, forex traders are now be able to receive commentary, quotes and analysis of the latest market moves even faster than before.

“Forex traders using the popular iPhone™ now have the quickly moving forex market, right at their fingertips, anytime, anywhere,” said Schlossberg.

GFT’s FX360 iPhone application provides real-time quotes on major currency pairs, commodities such as oil and gold, as well as U.S., European, Asian equity and bond markets. It also offers dynamic intraday charts and a real-time economic calendar with updated numbers, descriptions and historical data.

Additionally, throughout the global trading day, GFT Analysts Roger Stojsic and Bradley Gareiss deliver advanced technical analysis reports and make clear directional calls on major currency pairs.

Kathy Lien, director of currency research, GFT, believes that the ranking as one of the top iPhone Apps is an honor and testament to their research team and their innovative colleagues at GFT.

“Our knowledge of the markets combined with the savvy developers behind the FX360 app allowed us to design what currency traders truly needed–a fully functional mobile platform that provides real-time data and timely commentary on the market,” said Lien.

The application, which is available now at the Apple® iTunes® store, offers all of the best features of FX360.com, but in a fast, portable iPhone™-based format.
For more information, read our latest forex news.

GFT Announces Software Update for DealBook® 360: Customers Get More Ordering Features

FXstreet.com — Wed, 22 Jul 2009 15:24:00 GMT

GFT, one of the world’s largest online currency dealers and derivative market-makers, announced today an updated version of its DealBook® 360, making one of the best trading platforms even better–customers now have the ability to create more orders using custom strategies, trendlines and Fibonacci indicators.

DealBook® 360 customers already have one of the most advanced trading platforms for forex, futures and derivatives, and now GFT is adding five great features: chart line orders, RCI indicator, create parent and contingent orders for strategies, custom tick charts and quote delay notifications (futures). Highlights of these features include:

- Chart line orders: The new chart line orders features gives GFT customers the opportunity to place orders based on price breaks above or below a basic trend line or Fibonacci retracement.

- RCI indicator: The Rank Correlation Index is an indicator that analyzes price in relation to the time – it force-ranks the most recent price and most recent time statistically to help traders forecast possible trends

- Create parent and contingent orders for strategies: GFT customers can use a common program language called CTL to create parent and contingent orders to get into and out of a market position, as part of their trading strategy. Traders can create strategies that will execute a P&C order, either a certain number of pips above an indicator line or a certain number of pips below an indicator line.

- Custom tick charts: Another request by GFT customers who use strategies, custom tick charts can assist traders creating their own versions of MACD, Bollinger Bands, Stochastic, etc.

- Quote delay notifications: A new feature that alerts customers if the quotes they are using are delayed – e.g. futures quotes are delayed up to 10 minutes on the demo system but not for live accountholders.

“We simply keep adding new and appealing tools, but the real credit comes from the constant dialogue we have with our customers, many of these were created by them,” said Gary Tilkin, president and CEO, GFT.

The DealBook® 360 update also includes margin calculation upgrades, an optional “don’t save login information, a pip calculator view that works for futures and a progress bar for chart strategies.

The free DealBook® software upgrade –version 2.12.37–from GFT is available by downloading it from here.
For more information, read our latest forex news.

Alpari (UK) launches automated Forex investment revolution

FXstreet.com — Wed, 22 Jul 2009 14:57:00 GMT

Alpari (UK), one of the world’s fastest growing online foreign exchange (Forex) trading providers, announces Systematic, a fully automated web-based portfolio-trading platform. Systematic is especially designed for investors looking for an introduction to the international Forex market, offering them complete freedom to trade cost-effectively without substantial trading experience.

Trading Forex with confidence
Investors can use Systematic to choose from 20 predefined and time-tested portfolios and get started right away. Systematic will then implement the chosen strategies on behalf of the investor, eliminating the often damaging emotional impact associated with manual trading. To help investors make more informed and responsible decisions, Alpari (UK) offers account holders unrestricted, free access to online tutorials through its Alpari Academy educational resource.

More experienced Forex investors can also choose from up to 150 time-tested strategies to create and customise their own portfolio. All strategies in Systematic were developed by seasoned Forex traders, and their performance can be traced back to up to twelve months.

Two platforms through one account
In addition and, as an exclusive benefit, Systematic is fully integrated with existing Alpari (UK) client accounts: clients can switch between fully-automated trading through Systematic and manual trading through MetaTrader 4, all through the same account.

Easy access to the largest financial market in the world
The ability to trade currency across global markets 24-hours a day makes Systematic an innovative Forex-trading solution, allowing investors to take advantage of market opportunities without the need to constantly monitor the market.

Today, Forex is the largest financial market in the world, with the equivalent of over USD3.98 trillion (source: BIS) changing hands daily, compared with traded volume on the stock markets of only USD500 billion.
For more information, read our latest forex news.

FXstreet.com launches its Technical Forex News Feed to the global Forex community

FXstreet.com — Tue, 21 Jul 2009 12:01:00 GMT

The 100% Forex News of FXstreet.com, the leading Forex website, can now be integrated in any information website or broker's currencies platform. It's a 24hr exclusive service that covers in real-time the most relevant movements of the most traded pairs, including majors, small dollars and major crosses.

This news service gives a general technical radiography of the most traded pairs that FX traders can check for an update or summary of the market's last movements. Experts' analysis and bank's forecasts are also added to give another insight to the information.
The feed also includes stocks and commodities news (gold and oil) when important movements occur and have noteworthy impacts on the currencies. Finally, some of the most important economic indicators are covered too, as PIB numbers, Central Banks interest rate decisions or Non-Farm Payrolls for example.

This is a totally exclusive and original news feed which has no direct competitor in the market now. The news provided by other existing newswires are mainly macro-economic, very few of them are currencies-related. The journalists and traders team of FXstreet.com now offers up to 45/50 Forex news items per day, covering all the trading sessions 24 hours. You will find this Forex news feed in our News section at http://www.fxstreet.com/news/

It can now be integrated on to third party websites. On launch, the yearly contract is offered at the special discount rate of 450€/month. Hence forward it will be 850€/month for a yearly contract. This is a very competitive fee compared to other news agencies, especially taking into account that no comparable service is available on the market.

Francesc Riverola, CEO and Founder of FOREXSTREET, S.L., declared: “I'm confident this service can be a good product for websites, brokers or companies which want to offer valuable information to their customers directly on their own pages or platform. Their users will be informed 24 hrs about the Forex. This service has a large following on our own website and we thought it was about time we offered it to the outside world.”

The Forex news feed also exists in Spanish, at FXstreet.es, and offers about 15 news per day. This service can also be integrated by other companies.
For more information, read our latest forex news.

Online Forex Company GFT Announces $200 Account Bonus for New Customers

FXstreet.com — Tue, 21 Jul 2009 11:38:00 GMT

As many forex dealers sent notice last week of potential conflicts in compliance with a new National Futures Association (NFA) rule that requires a "first-in, first-out" (FIFO) method of trading, GFT announced full compliance as well as a $200 account-opening bonus to traders seeking a compliant forex dealer.

The $200 bonus is available to new GFT customers who open a standard trading account with a minimum balance of $2,500. However, GFT President and CEO Gary L. Tilkin said traders who open larger accounts may be eligible for even more perks.

“Traders with accounts larger than $2,500 will be not only receive this limited-time account bonus, but could also be eligible for even more bonuses through our new account packages program,” he said. “It’s quite appealing given that you get free tools, news and other benefits.”

Traders who choose to open mini forex accounts, which start at $250, could be eligible for a $50 account bonus. Both account bonus offers from GFT are subject to terms and conditions, which can be read here.

“We’re pleased to offer this account bonus program as a way to help new customers put our services and award-winning trading platform the test,” said Tilkin.
GFT ranks among the top online trading companies in the world and offers a wide range of trading services, from forex trading services around the world, to market derivatives trading in Europe, Asia, Middle East and Australia.

GFT’s adjusted net capital is more than $80 million, according to the latest figures released by the CFTC, far exceeding the NFA’s requirement of $20 million.

Earlier this month, in preparation for the new rule, some forex dealers announced they will no longer offer stop-loss or limit orders as a way to exit an existing market position.

Although the new rule does not prohibit these orders, position-based trading systems to not comply with the new FIFO matching system, further limiting traders’ market strategies and risk-management techniques.

GFT’s award-winning DealBook® trading platform already complies with the new NFA rule, and offers a full range of entry and exit orders, including stops, limits, automated trailing stops, parent and contingent orders and order cancels order. The platform, which was created in 1998, is designed around a net-based system rather than a position-based system.

In a position-based system, it is possible for a trader to take multiple positions at different levels on the same market. For example, a trader could have three positions in the EUR/USD pair and then close out each position based on its individual performance, which would violate the FIFO rule.

In a net-based system such as GFT's, when a trader enters a new position in a market where he or she already holds a position, the new position is simply added to the old position and the price difference between the two is averaged. So it’s not possible to hold multiple positions in the same pair and therefore it is not possible to violate the FIFO rule. See an example here.
For more information, read our latest forex news.

Interbank FX Announces Compliance with the New NFA FIFO Rule, Retaining All Platform Order Functionality Including Expert Advisors

FXstreet.com — Tue, 21 Jul 2009 11:32:00 GMT

Interbank FX (IBFX.com), a worldwide provider of online foreign currency (Forex/FX) trading, announced today a solution for NFA Compliance Rule 2-43 affecting all NFA regulated Forex brokers.

Using our proprietary backoffice solutions, Interbank FX will allow our Meta Trader 4 platform to remain 100 percent compliant, while retaining order functionality and flexibility for customers trading. The MT4 platform will continue to function as our customers have experienced over the last several years. This includes the ability for customers to use fully functional Expert Advisors, Stops Losses, Take Profits, Trailing Stops and Limit Orders without making any needed adjustments.

“Certain US competitors have decided that their solution to the new FIFO rules are to move their customers overseas, rather than being compliant,” said Todd Crosland, Chairman and President of Interbank FX. “At Interbank FX, we have embraced the NFA’s efforts to help protect customers and provide a seamless solution without any changes to their current trading strategies.”

The only modification for customers will be their daily and monthly account statements, coming directly from the proprietary Interbank FX backoffice system using NFA FIFO offsetting procedures. The FIFO rule takes effect beginning July 31/August 1, 2009.

Interbank FX is currently working on a step-by-step video which will be available shortly on our web site, www.ibfx.com.
For more information, read our latest forex news.

FXCM Recognized With Best Retail Platform by FX-Week

FXstreet.com — Fri, 17 Jul 2009 10:33:00 GMT

FXCM Holdings LLC (http://www.fxcm.com) has been awarded Best Retail Platform by FX-Week at the 2009 e-FX awards.

The award, announced on July 7, 2009, at the FX-Week U.S. conference, recognizes industry excellence in electronic foreign exchange trading from banks and vendors.

FXCM triumphed over other industry leading firms, including Saxo Bank and Gain Capital.

“This award confirms FXCM’s leadership in the forex market. The No Dealing Desk* (agency execution) business model embraced by FXCM in 2006 is clearly the direction forward for the retail industry. Clients want transparent and fair execution and FXCM offers it,” says Marc Prosser, the firm’s chief marketing officer.

FXCM developed its proprietary trading platforms: FX Trading station II (pc based) and FXCM Active Trader (web based) to meet the rigorous conditions of today’s volatile markets. The current platforms were developed by an in-house team of over 50 programmers. FXCM’s platforms are extremely stable, scalable and robust. There are over 150,000 live accounts trading on FXCM platforms, with an average of over 8 million trades per month.

FXCM currently has successful white-label relationships all over the world working with banks, brokerages and large financial institutions. White label partners are able to deploy individually customized platforms based on FXCM’s awarding forex trading platform.
For more information, read our latest forex news.

Alpari Group announces advanced trading platforms Alpari Direct Pro and Alpari Direct

FXstreet.com — Wed, 15 Jul 2009 15:15:00 GMT

Alpari, one of the world’s fastest growing providers of online foreign exchange (FOREX) services, will launch two advanced trading platforms by the end of August, offering high-speed and direct access to the international currency market for Alpari clients and other institutional and retail customers. Powered by trading technology provider Currenex®, Alpari Direct Pro will be offered to institutional clients while Alpari Direct will be offered to retail customers.

True to Alpari’s commitment to providing clients with institutional-level services, both platforms will feature Straight Through Processing (STP), Non Dealing Desk execution (NDD), 1 click Executable Streaming Prices (ESP), accurate pricing with fractional pips and integrated algorithmic models that enable enhanced levels of execution. These features will ensure high speed and low latency execution and will empower traders to optimize market impact and reduce execution costs. An integrated Dow Jones feed will keep users up-to-date with current news.

Further to this, Alpari Direct Pro, the execution interface for institutional clients, will provide traders with access to a deep liquidity pool, which aggregates feeds from over 60 global banks and multiple Electronic Communications Networks (ECNs). Alpari Direct Pro shows traders the full market depth and also features 24 order types (including advanced orders such as pegged orders), which empower traders to take control of order timing and execution. In addition, this institutional platform offers intuitive and fast keypad trading capabilities, pre- and post-trade allocation solutions, trade averaging capabilities and sophisticated order management, allocation and advanced reporting tools.

Alpari’s platforms are created using Currenex technology. Currenex is a recognized and award-winning leader in providing trading solutions to the active-trading segment of the FX market.

Commenting on the new platforms, Andrey Vedikhin, Co-Founder of the Alpari Group, said: “Alpari Direct Pro and Alpari Direct represent another step towards Alpari’s goal of providing an institutional level trading experience for all. Alpari now provides its clients with one of the most comprehensive selections of advanced trading tools, expert educational resources and responsive customer services available from any online FX trading provider.”
For more information, read our latest forex news.

MIG Investments - The Road to F1 Forex Championship

FXstreet.com — Wed, 15 Jul 2009 15:07:00 GMT

MIG Investments introduces The Road to F1 Forex Championship, where traders can test their FX trading skills against other traders on a virtual Championship Account on the MIG Trading Station. The winner secures a trip for two to Abu Dhabi, the final Formula One race of the 2009 season.

This unique experience includes fine accommodation and round trip tickets to Abu Dhabi for two, plus VIP tickets to the Formula One Paddock Club, where you and your guest will have a privileged view of the race AND bask in the luxuriousness of the Paddock Club, with entertainment, fine wines, an assortment of delicacies and gourmet luncheon, and much more.

Get ready to beat the competition in The Road to F1 Forex Championship! Go to our dedicated Championship site and Sign up for your virtual Championship Account.

The Championship begins at 00:00 CET on September 1st 2009, and extends throughout the month of September, ending on September 30th at 23:59 CET – check the Championship Countdown online.
For more information, read our latest forex news.

Thursday's News Recap: Chrysler Declares Bankruptcy, U.S. Initial Claims Ease

CEP News — Thu, 30 Apr 2009 21:00:00 GMT

(CEP News)• Chrysler Files for Bankruptcy • U.S. Weekly Initial Jobless Claims Ease, Continuing Claims Soar• U.S. Consumer Spending Falls 0.2% in March• Canadian GDP Falls 0.7%

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