Posted by
NigelGee on December 3, 2009 |
No comments
USD Dollar (USD)
The Dollar strengthened against most majors after ADP Non-Farm Employment came out worse than expected at -169K vs. -149K forecast showing employment is still troubled by the recession increasing demand for the Dollar as safety. The Beige book was released saying consumer spending has improved and the U.S economy is improving. NASDAQ rose by 0.42% and Dow Jones weakened by -0.18%. Crude oil fell by -2.3% to 76.6$ a barrel after the inventories report showed increases in the supply instead of a decrease expected. Gold (XAU) rose by 1.2% reaching a new record and closed above 1214 an ounce. Today, Unemployment Claims is expected at 479K vs. 466K prior, ISM Non-Manufacturing PMI expected to slightly rise from 50.6 to 51.6, Fed Chairman Bernanke Testifies.
EURO (EUR)
The Euro weakened versus the Dollar after disappointing employment figures in the U.S were released. Overall, EUR/USD traded with a low of 1.5032 and with a high of 1.5109.Today, Retail Sales is expected at 0.2% vs. -0.7% prior, Interest Rate Decision is expected to remain at 1%, ECB President Trichet Speaks.
EUR/USD – Last: 1.5086
|
Resistance
|
1.5114
|
1.5144
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1.52
|
|
Support
|
1.5034
|
1.4970
|
1.4842
|
British Pound (GBP)
The Pound rose to the highest level in almost a week against the Dollar after a report showed the pace of contraction in the U.K. construction industry slowed and investor concern eased that Dubai World may default. Overall, GBP/USD traded with a low of 1.6548 and with a high of 1.6694.Today, Services PMI is expected at 57.1 vs. 56.9 prior.
GBP/USD – Last: 1.6669
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Resistance
|
1.6694
|
1.6723
|
|
|
Support
|
1.6625
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1.6568
|
1.6390
|
Japanese Yen (JPY)
The Yen fell against all of its major counterparts after Japan’s Prime Minister Yukio Hatoyama said the currency’s strength can’t be left as it is and investors expect action. Capital Spending came out worse than expected with -24.8% versus -15.8% expected. USD/JPY traded with a low of 86.59 and with a high of 87.48. No economic data expected today.
USD/JPY-Last: 87.79
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Resistance
|
88.38
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88.63
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|
|
Support
|
87
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86.5
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86
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Canadian dollar (CAD)
The Canadian Dollar weakened against its U.S. counterpart as Crude Oil tumbled along with other commodity prices, diminishing the appeal of currencies tied to growth. Overall, USD/CAD traded with a low of 1.0431 and a high of 1.0514. No economic data expected today.
CAD/USD – Last: 1.0494
|
Resistance
|
1.0515
|
1.06
|
1.0748
|
|
Support
|
1.0482
|
1.043
|
1.04
|
Research by http://www.ufxbank.com
Tags: Daily Forex Review, forex review
Posted by
BettyBoop on December 3, 2009 |
No comments
The boom in the financial market has given a new wave to the forex market or say foreign exchange market. Earlier trading in forex market was a complete heck and there were lot of complications involved. But now with the entry of forex trading software these complications have reduced a lot as a result the forex trading has become much easier. The forex trading software is getting popular day by day. The FX software is a much more convenient way and easy to understand for every investor and trader. Also it is very much interesting and allows fewer amounts of paper works which was not the case in the earlier time.
The most important advantage of the foreign exchange trading software is that it does not involve manual calculations of the invested amount and the exchange rate. Hence the chances of any kind of mistakes in calculating the exchange rates become less. This has a major impact on the financial system as the rates of deceitful actions and deals are decreasing. Also less computation will result in to lesser time taken and hence save a lots of time of an investor which he or she can invest making more number of deals hence making more profits in the forex market.
Secondly the FX software is obviously used in a computer therefore an investor has a great opportunity of working from home. If not home an investor can also open his own office where he can trade in the foreign exchange market from one place itself with the use of foreign exchange trading software. Hence as a result foreign exchange trading software gives a lot of convenience to the investor and the trader who is involved in forex trading. As a result the forex trader will have less stress and the foreign exchange trading involves a smaller amount hectic work. Hence many traders prefer to trade with the help of foreign exchange trading software.
Apart from these the FX software is the best option for those investors and foreign exchange traders who are at the initial stage of FX trade. There are basic steps implicated which are not very intricate in nature and hence it makes it trouble-free for an investor to deal in FX market with the help of foreign exchange trading software. Moreover the paper work involved in forex trading software is almost negligible and the snagging that is caught up completely gets deducted. This is also one reason many people are opting to trade with forex trading software.
Aside from these benefits the foreign exchange trading software is available all the time as there is no break in between. Any one can monitor his or her deal at any time in the day as it is available 365 days a year and 24*7. Hence it becomes easy for the trader to deal in forex market.
Tags: forex software, Forex Trading, forex trading software, fx software, fx trade
Posted by
NigelGee on December 3, 2009 |
No comments
If you want to carry out the forex trade in an ideal manner, you need to choose a good forex platform. You should know the ways in which you can pick the Fx trading platform which can help you in earning higher yields.
There are many people who want to get into the forex market but are not aware as to which is the ideal forex trading platform through which they can reap the maximum benefits from the foreign trade carried out by them. Thus, selecting a good Fx trading platform is an ideal solution to any problem of forex trading. There are some ways through which you can get the good forex trading platform. Forex platform needs to be selected after taking care about all the important things like you should only trade in that Fx platform which is user friendly and known to you. This will definitely help you in simplifying the task of forex trade.
In some trading platforms, there are various techniques like to test the strategy which you wish to actually apply. This means that you can actually take a rough idea of the result to the strategy which is used by you. This will help you in taking the appropriate decision about the selection of the strategies. Also, there are many fx platforms which provide you with the related data which will surely help you in the long run for your trading activities. When you want to pick a forex trading platform, you should confirm that it is useful for handling of accounts. Forex platform should be selected so as it could maintain all the forex accounts like standard accounts or even the mini accounts. There should also be various software packages included in the forex trading platform. This means that the fx platform which you are using should have software’s like java, Flash and other such advanced software to make the task of forex trade more easy.
While selecting the fx trading platform, this thing should be kept in mind that the platform should provide you with the mobility of services. This means that the fx platform should enable you to carry out trade from any of the places. You should be able to trade in the forex market from your home, office, or anywhere else and at any time. The most important aspect to be kept in mind while selecting the forex trading platform is that the platform should be automated in nature. This means that the platform should provide an automated system which will ensure that you receive all the required enquiries and related data about the forex market. Thus, an ideal forex trading platform should ensure you with the all the facts and possibilities about the forex trade and make your job of trading a simpler one.
Thus, keeping in mind all the above tips you can choose the ideal forex trading platform for trading in forex market.
Tags: forex platform, Forex Trading, forex trading platform
