Archive for Forex

Phil Renwick | October 11, 2011
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European currency consolidated afternoon’s strong advance

The single European currency consolidated some of this afternoon’s strong advance saved the day against the dollar, amid profit taking and for the vote of Slovakia. Around 24:40, the euro yielded 0.34% to 1.3589 against the dollar after taking 1.93% yesterday. U.S. markets were mostly remained closed yesterday because of Columbus Day, which did not prevent the exchange rates to fluctuate the most sensitive.

Rating agencies S & P, Moody’s and Fitch notes lower in some European countries and the euro / dollar flies, Noted this morning in disbelief, analysts Changes of Pictet & Cie. Merkel-Sarkozy duo seems to have taken the bull by the horns to find a solution to the Greek situation and save the banking system, which has affected the European currency, they said.

Recall that the euro had risen to $ 1.45 $ 1.31 late August to October 3, then it began a strong rebound was reduced to its current level. The 1.3699 have been achieved at the meeting yesterday.

The European Union announced that the upcoming G20 summit in Cannes will be the main topic of sovereign debt crisis in Europe and its contagion, and the risks posed by United States and emerging countries on the global economy, they add by way of prospects.

The renewed confidence in the single European currency is also reflected against the Swiss franc, against which the euro is gaining 0.39% to 1.2378 francs the euro. But not against the pound (- 0.04% to 0.8706), nor against the yen (- 0.31% to 104.3).

The euro is effectively penalized by further ratification of the agreement to extend the capabilities of the European Financial Stability Fund (EFSF). Slovakia must decide today. Meanwhile, within three weeks to go into detail to put an end to the crisis in Europe, markets will focus today on the vote for ratification of the Slovak EFSF. After last night, Malta, Slovakia is the latest European country to vote? Wrote Barclays Stock Exchange this morning.
Category: Forex |
Phil Renwick | September 20, 2011
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Forex brokers offer investment services

The authorities are closely monitoring the development of the Forex for individuals to avoid their aggressive lobbying by unauthorized sites.

A market of 4000 billion dollars a day can attract companies and malicious looking for easy money. The Financial Markets Authority (AMF) has issued its first alert on the exchange in 2004, but from 2010 the regulator has been a marked increase in suspicious practices (aggressive advertising …). “The foreign exchange market is particularly presented as a way to make quick money without much risk from trading, says Natalie Lemaire, director of investor relations of the AMF. This business approach is at odds with the total level of actual risk, very high. These products are intended for experienced investors who can assume potentially significant losses and are not suitable for very large target market covered by these ads, as a rule not informed of the risks of this type of market. “One of the fears of the authorities is to witness a proliferation of claims and litigation related to losses on currencies, even though the Paris stock exchange has lost 2.2 million individual shareholders in two years.

Forex brokers sometimes offer their investment services without having the slightest pleasure in France, a practice punishable by three years imprisonment and 375,000 euros fine. Worse, some of them may prove to be mere empty shells and disappear overnight after collecting money from investors. When they provide guaranteed returns in addition to one of the most difficult markets and more demanding of the financial world, all the lights turn red. Skill, “Most sites do not communicate directly Forex financial instruments but offer training services in the foreign exchange market.

This is a roundabout way to attract individuals and then direct them to other sites where they can conduct transactions,”says Natalie Lemaire. “We work closely with consumer groups and conducting awareness campaigns among the general public. “” Before any investment, individuals should check, particularly with AMF Epargne Info Service or the Website regulation that their provider is approved in France. Also get yourself well versed on the markets by understanding forex trading charts and ways in which the market operates. Trading foreign exchange is not suitable for everyone.
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Phil Renwick | September 17, 2011
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Dollar has lost some of the gains

With the return of risk appetite on the weekend, the dollar has lost some of the gains made the previous weeks. This result is reassuring of the Franco-German on the fact that Greece would not be excluded from the euro area and the intervention of central banks to provide dollar banks. This reduced the effect of the dollar scarcity and hence the dollar basis swap three months. The EURUSD is thus returned to 1.39 after have tested a low of 1.3495 earlier this week.

Despite the Franco-German ads and help central banks in dollars, the uncertainties in Greece are far from being lifted, including the fear of failure. The rate of private sector participation in the plan July 21 has not been provided and the market is now awaiting the report of the Tro? ka on progress in reducing the government deficit in Greece at the end of the month.

There will be more than a telescoping of the plan with the Greek vote in the German Bundestag on September 29. Meanwhile, the Fed meeting on 20 and 21 September should not lead to a new EQ3 but probably by extending the duration assets of the Fed, which should not weigh on the dollar. In this context, if the EURUSD could still test the level of 1.395, but it should go back down to 1.34 in the coming weeks.

For their part, the traditional safe haven currencies CHF and JPY rose against the dollar declined slightly against the euro and. The EURCHF has however maintained above 1.20 while the EURJPY has tested its lows 10 years to 103.9 due to the strong yen. Although the USDJPY has remained above 76, the probability of an intervention by the BoJ remains important in the coming weeks if the yen continues to s’ appreciated against most currencies.

Finally, many currencies have conveniently corrected earlier this week to face the strong risk aversion and prudence of central banks, including the RBA, RBNZ and the Norges Bank in Norway. In the short term, these currencies remain rather fragile face of persistent uncertainty. International Money Transfer
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