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European stock platform finished the first day of winter increases on 1,5-2%. Novelty "number one" was the improvement in public funds Dubai World, which began negotiations with creditors. Statistics also did not disappoint. For example, China has a dynamic industrial growth. Investors are now waiting for an increase in demand for commodities, so the price of oil went up. In London, the cost of a barrel of oil Brent went up to $ 79. Not lag behind and gold, which met in December a new record - $ 1200 per troy ounce. A very American currency - in free fall: Euro entrenched above the 1.51 dollar mark.
Today it’s becoming more clear, that all actions on Forex, basically, takes place during the Asian/European session, granting the American session only fluctuations in a narrow range. Whether it’s a sign that data from the United States has not that much influence now then used to? We shall see. But the fact remains the fact - the dollar enjoyed its strengthening not for long. As soon as the markets have digested Dubai issue they have rushed to buy risky assets again. Probably, the fall of demand for dollar was caused by this news: yesterday the Reserve bank of Australia has increased interest rate, third time this year, that only has increased divergence with the Fed.
The euro has not only managed to reach 1.500 against dollar, but also to continue its ascent having reached new tops. In this case its five cents brought positive economic data from Europe and negative moods concerning dollar. In November unemployment rate in Germany has fallen as the measures taken by the government have reduced number of dismissals, and the economy embarked on recovery. Nevertheless, in October unemployment in all Euro zone remained at the same decade-maximum level, as companies reduce jobs, despite the exit of the European economy from recession.
Coming back to an economic image of the USA, we shall focus on manufacturing. Growth in exports and poor stocks can support strengthening of this sector of economy in 2010 that will help economy as a whole. As to an employment index - it has decreased. Thus, increasing number of jobs in branch has proceeded, however at a slower pace.
Today is supposed to be rather quiet. If unemployment level sharply decreases, it can, on the one hand, weaken dollar, however then cause a wave of flight from risky assets, and, hence, demand for the American currency on the other hand. Also investors should pay attention to Beige Book report. In spite of the fact that it is published with a little delay, nevertheless, it offers more complete picture of economic situation.
LiteForex – the results of participation in ShowFxAsia -
12-02-2009, 11:41 AM
November 15th and 16th, 2009 - the international exhibition ShowFxAsia took place in Kuala Lumpur (Malaysia), LiteForex Group became a ShowFxAsia Award winner.
The geographical factor was a determinant when has been made a decision to participate in the exhibition because more than 30% of all traders who always work with LiteForex Group are Malaysian residents. “Direct contacts with clients” was one of the key objectives of the presence of LiteForex Group in ShowFxAsia in Kuala Lumpur.
“Preparing for the exhibition, we expected to get assessments of our services and our work with clients because it is impossible to choose the right direction of our further development without such assessments”, said Yuriy Voloshin, CEO of “Trend Line” Ltd., representing LiteForex in Russia. “This objective was completely achieved: we got the necessary information from our real and would-be clients for the further correction of the group of companies’ activity. In addition, the good assessments of services and work of LiteForex Group from the Malaysian traders who collaborate with us were as a peculiar pleasant bonus.”
During the two days of ShowFxAsia in the pavilion of LiteForex Group it was possible not only to get to know trading conditions, the presence of representatives in Malaysia, the advantages, the account types but also to get all information about the support team. The group of companies’ managers also represented the services of opening a trading account and the instant deposit into it in real time. This presentation was in popular demand especially on the second day of exhibition. According to LiteForex Group specialists, “the most part of clients who opened the accounts on the second day of the exhibition did it following their friends’ advice, people who have already worked with the LiteForex group of companies”. According to the promotion “Open a trading account right now!” which was organized on the exhibition, 10 USD were deposited into each opened trading account for every new client to begin trading.
The clients who opened trading accounts during the exhibition also received the set of brand-name gifts which contained umbrellas, flesh cards, T-shirts, pens and calendars. The bonus-cards of different value ($500, $200, $100, $50, $30 and $10) were much in demand among the exhibition visitors and these cards also were the exclusive gifts from LiteForex Group.
“During the two days of exhibition the visitors could become participants of hourly lottery, raffling gifts presented by the companies-participants of the exhibition”, Yuriy Voloshin added. “The bonus amounts equal to $500 charged to trading accounts were drawn on behalf of our company”.
About the company:
Straighthold Investment Group, Inc. is presented by the well known LiteForex trade mark and thus is a part of the LiteForex group of companies. Placing financial assets on Forex, foreign exchange market, on world Stock Markets, on precious metals and Futures markets as well as providing brokerage services are among the basic activities of the LiteForex group of companies.
LiteForex company website – Forex world | LiteForex
European finance ministers meeting in Brussels the European Commission approved proposals to create new bodies to monitor the activities of banks. Decisions in these organizations will be taken by simple majority.
The idea to tighten the supervision and control over the banks came after the bankruptcy of Lehman Brothers and American broke then the crisis. But a compromise was not easy: Britain was opposed to the project, fearing that excessive regulation by the EU would go against the interests of individual countries of the Union. Before the meeting "Ecofin" British Finance Minister Alistair Darling urged his colleagues not to get involved in the regulation, so as not to cause damage to London, the financial center of the European Union. Darling recalled that in Europe only London can equal konkuririrovat to New York in this field.
OMG, eur is 1.5100 now. how long must i wait for it to go down? why have I got myself into this? this game is not for me, i wanna quit. who knows what i must do now - buy or wait?
On December the 2nd, 2009 Forex market once again shown an ascending trend of the european currency. Demand for risky assets has increased again, after Dubai World problem was settled. In particular, the conglomerate has decided to conduct re-structuring of its assets having a total debt equal to 26 bln. dollars. Euro was also supported by quite good macroeconomic data which was published on Tuesday, December the 1st. Thus, in October volumes of retails in Germany in demonstrated growth by 0.5% monthly. Business activity index increased as well in November compared to that in October.
Thus, as a whole, the macroeconomic situation remains substantial mostly owing to government support. Nevertheless, there were some serious problems. The situation on a labour market remains extremely intense, both in the USA, and in Europe. There are also not enough investments into real economy, and growth of the markets which has taken place recently, is purely speculative and does not reflect proper economic recovery.
December 2nd Forex trades shown quiet dynamics, changes in EUR/USD are insignificant.
December 3rd promises to add activity to dynamics of the trades. Today Eurozone GDP for 3 quarter 2009 will be published, which can put some pressure on dollar.
According to the recent data, ADP unemployment in November in the USA numbered 169,000 against forecasted 150,000 which can seriously damage the influence of other data from USA, if so, dollar might soon enjoy slight recovery. However, it is necessary to pay attention to the EU also.
OMG, eur is 1.5100 now. how long must i wait for it to go down? why have I got myself into this? this game is not for me, i wanna quit. who knows what i must do now - buy or wait?
Dear Irochka19,
You must understand that trading involves risk of loss and may not be suitable for some persons. To be a success in any field demands learning and hard work. I suggest you stop trading and get some preparation work done.
As for your current situation if I were you I would close this trade and consider this few hundred dollars that you lost as your payment for future success. Because now your so-called trading is very close to lottery.
On December 3rd, Forex market again shows advantage of the european currency over dollar. Yet today investors buy euro owing to yesterdays “thin” trades and awaiting some economic data to be published. Some publications are already issued and, as a whole, it met analysts’ expectations. The EU GDP for 3 quarter 2009 has shown growth by 0.4% quarterly, confirming former dynamics. Retails also have demonstrated growth, nevertheless, the figures were a little bit worse than expectations. Indexes of activity in the Eurozone, Germany and the Great Britain have shown insignificant decrease.
Anyway, the euro/dollar pair continues the ascension and has managed again to hit 1,510. Second half of Thursday is also rich in macroeconomic indicators. In a few hours the ECB will announce its decision concerning interest rate. Investors are assured, that EU interest rate will remain the same, viz. 1.00%, however, as usual, forthcoming comments by Trishe will have more impact on international markets. Along with that this evening Ben Bernanke of the Fed US will announce further US monetary policy measures.
Once again we are facing not typical market situation:
Yesterday Forex and stock exchange markets remained quite prudent. Taking into account many publications issued on Thursday, few investors risked opening many long positions, hence, trading dynamics was a little bit tight. Key economic data from around the world didn’t add much courage to investors either. Unemployment rate statistics shown that the number of cut-offs has decreased though the number of jobless was still too high. At the same time data concerning housing sector and consumer spending unveiled some increase in both sectors of the economy though that did not do much good to markets – investors are still very reasonable, which can soon support dollars rise.
Very discreet was reaction to ECB representatives’ comments on current market situation, as investors are waiting for labour market statistics to be published.
Moreover, yesterday gold hit new price top – 1218 dollars per ounce, because dollar still remains in the eyes of investors the most unattractive currency as low interest rate in the USA provokes worries about high inflation rate in the near future. Analysts forecast gold price at a level of 1350 dollars by the beginning of 2010.
It seems dollar will remain weak for some time
12-02-2009, 08:04 AM
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