Technical Market View

AUD/USD

EUR/CHF


EUR/GBP


EUR/JPY


GBP/JPY



You can find the complete analysis at the pdf...


Technical analysis-Comments
G. Antonakos
Head of Analysis Dept.


DISCLAIMER

1. The details and information included in the above analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market.

2. We assume no responsibility for any kind of losses, profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions.

3. The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action.

4. We reserve the right to change the terms and the characteristics of the analysis.

5. The contents of the analysis are solely intended for personal use. They may not be re-transmitted, reproduced, distributed, published, adapted, modified or assigned to third parties in any way whatsoever. Anyone having access to them is required to comply with the law provisions on the protection of third party intellectual property rights

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Technical Market View

USD/CAD

Gold


SILVER


CRUDEOIL


DOW JONES



You can find the complete analysis at the pdf...


Technical analysis-Comments
G. Antonakos
Head of Analysis Dept.


DISCLAIMER

1. The details and information included in the above analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market.

2. We assume no responsibility for any kind of losses, profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions.

3. The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action.

4. We reserve the right to change the terms and the characteristics of the analysis.

5. The contents of the analysis are solely intended for personal use. They may not be re-transmitted, reproduced, distributed, published, adapted, modified or assigned to third parties in any way whatsoever. Anyone having access to them is required to comply with the law provisions on the protection of third party intellectual property rights

Why ForexGen?

1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex demo account that allows you to test your skills and practice without risking real money.

European markets Likely to extend losses on weak global cues

Global cues are pointing towards a lower opening for the major European markets on Tuesday. The U.S. market tumbled overnight after Fannie Mae and Freddie Mac fell to their lowest level in twenty years on concerns that the U.S. government may have to bail out the mortgage lenders. The Asian markets are trading sharply lower Tuesday on fresh fears about U.S. credit markets. Crude oil prices declined on Monday as Tropical Storm Fay steered clear of oil-producing infrastructure in the Gulf of Mexico.

However, the major European index futures are mixed. The FTSE 100 index futures show marginal strength, while the CAC 40 and DAX 30 index futures are showing weakness.

In the Asian session Tuesday, Brent North Sea crude was down 67 cents at $111.27 a barrel by 11:11 p.m. ET. In London Monday, October Brent crude futures fell 61 cents to settle at $111.94 a barrel on the ICE Futures exchange.

In Europe, the major economic data scheduled for release are the Euro-Zone and the German ZEW surveys for August and the German producer prices for July. In the U.S., traders await data on July housing starts and producer price index. Economists at UBS have predicted that housing starts and permits probably fell sharply in July.

The European markets fell for the first time in three days on Monday, as banking stocks edged lower following media reports of further troubles in the sector and a weaker dollar hurt export-sensitive stocks. The FTSEurofirst 300 index of pan-European blue chips closed down 0.1% at 1,189 and the narrower DJ Stoxx 50 index closed flat at 2,905. Around Europe, the U.K.`s FTSE 100 index slipped 0.08% to 5,450, France`s CAC 40 index declined 0.11% to 4,448 and Germany`s DAX index dropped 0.20% to 6,432.

On Monday, the Dow Industrials fell 1.55%, the broader S&P 500 index shed 1.51% and the technology-heavy Nasdaq composite index lost 1.45%.

In Asia Tuesday, Japan`s Nikkei 225 index is down 2.26%, South Korea`s KOSPI is down 1.95%, Australia`s All Ordinaries index is down 1.31% and Hong Kong`s Hang Seng index is down 0.65%. China`s Shanghai composite index is edging up 0.18%.

On the currency front, the euro slipped to a new multi-month low of 161.03 against the yen in Asian deals Tuesday, but it recovered against the dollar. The euro is largely choppy against the pound. At about 11:45 p.m. ET, the euro traded at $1.4695 and 0.7887 pound. The euro closed Monday`s European session at 0.7891 pound, 162.24 yen and $1.4740.

In the U.K., Brixton, Mears Group, Findel and Tribal Group are scheduled to report earnings. Kesa Electricals may see some activity after Goldman Sachs raised the rating of the company to `buy/cautious` from `sell/cautious`.

Renesola, the world`s largest recycler of scrap wafers used in solar panels, is scheduled to release a trading statement. Woolworths Group may react to a report by Financial Times that the grouping led by Baugur Group Hf, which was rebuffed by the board of Woolworths, has contacted other shareholders of the U.K. retailer in an effort to force its directors to open discussions.

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Weakness In USD

Forex Market Overview 18 August 2008

The Usd was slightly weaker in the Asian session and start of the trading week. This week will have market participants pondering the swift unraveling of the global growth decoupling story and sharp correction in commodity prices. The massive surge in the Usd caught many analysts off guard, causing a broad recalculation of forecasts. However, most are now predicting a short term tempering of Usd buying. We should like to see how this week's trading plays out, before expressing our short term bias. The EurUsd traded upward from 1.4649 to 1.4767, while UsdJpy fell slightly from 110.61 to 109.97 on light trading. The commodity bloc was able to gain some ground, with the NzdUsd moving sharply from 0.7040 to 0.7100 and AudUsd from 0.8654 to 0.8745. Crude is slightly higher trading at $115.11bll up 1.17% while gold is above the $800oz mark. The Asian regional indexes are following Wall Street mixed closed on Friday, with Shanghai down -4.61%. European futures are now pointing to a mixed opening.

With a relatively empty calendar today, the European session markets will be watching the EuroZone trade balance for signs of global weakness.

Daily Forex Pivot Point

AUDUSD
R 3: 0.8952
R 2: 0.8845
R 1: 0.8797
CURRENT: 0.8750
S 1: 0.8652
S 2: 0.8593
S 3: 0.8504

EURJPY
R 3: 164.40
R 2: 163.88
R 1: 163.10
CURRENT: 162.52
S 1: 161.845
S 2: 161.39
S 3: 160.15

USDSGD
R 3: 1.4265
R 2: 1.4220
R 1: 1.4193
CURRENT: 1.4123
S 1: 1.4025
S 2: 1.3890
S 3: 1.3820

ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.

ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.

ForexGen serves both private and institutional clients. We have a strong commitment to maintain a long term relationship with our clients.

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Consumer Sentiment

Expect some volatility on the markets today as consumer sentiment will be released. The expectation is 62% and if the actual value released is greater than the 62% expectation then that will normally indicate strength for the Dollar.

Euro had a minimal intra day bounce before it's downtrend continuation but a further continuation or a reversal could pend on today's consumer sentiment.

We took another position on the AUDJPY with 80 pips in profit zone and managing the trade. It is unlikely we will hold this position over the weekend.

Below are today's daily pivot points.

ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.

ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.

ForexGen serves both private and institutional clients. We have a strong commitment to maintain a long term relationship with our clients.

Dollar Demand

Dollar Demand Waned On Tuesday After US Trade Deficit Unexpectedly Shrank In June

News and Events:

The Dollar slipped against the Euro on Tuesday, breaking a five-session rally as investors locked in profits ahead of key economic data later in the week.

EurUsd has already dropped 4.11% this month with help from a sell-off in Oil prices and growing fears economies elsewhere may slow at a faster pace than in the United States.

Oil prices traded down 1.31% on Tuesday at $113 per barrel, after dropping more than $35 since a record 145.45 high hit in July.

Data on Tuesday showed the US trade deficit shrank unexpectedly in June to $56.8b, down from a revised $59.2. But losses in the Dollar were limited as investors awaited data on US retail sales and consumer prices for July, due out Wednesday and Thursday.

ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.

ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.

ForexGen serves both private and institutional clients. We have a strong commitment to maintain a long term relationship with our clients.

Economic Slowdown In Europe

Signs of economic slowdown in Europe, Asia and Australia reduced outlooks for higher interest rates and boosted demand for Dollar

News and Events:

The Dollar rallied to a five-and-a-half month high against the Euro on Monday, boosted by another drop in Crude Oil prices and speculation that the US economy slowdown was spreading worldwide. Mounting signs of economic difficulties in Europe, Asia and Australia have diminished prospects of higher interest rates outside the United States, bolstering demand for the Dollar.

The euro briefly recouped some of its losses after European Central Bank council member Klaus Liebscher warned that policy-makers remained focused on taming high inflation. Liebscher told Market News International that inflation risks remained to the upside in the medium term and that there is no room for "complacency" on euro zone interest rates and inflation.

Declining Oil prices helped ease worries about the impact of higher energy costs on the US economy and also helped boost demand for the greenback.

Throughout our partnership with the industrial leaders, we are capable of delivering incomparable quality of online currency trading service.
ForexGen services are all controlled by the international banking and financial regulatory standards.
ForexGen is continuously providing the Forex market's safest trading terms & conditions. Providing professional currency trading services that meet our client's expectations is our first priority.

ForexGen principals:

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

Forex Market Overview

Forex Market Overview 11 August 2008

The Usd was broadly stronger in Asian session, as market prepare for a heavy week of economic indicators. Perhaps the most interesting aspect of last week aggressive Usd rally was the lack of strong confirmation from other financial markets, specifically rate and oil. The EurUsd strength clearly outpaced the gains in crude prices, while across practically all maturities the interest rate differential between the euro area and US are unchanged. This suggests the Usd is overbought. The EurUsd broke the critical 1.5000 support, trading down to 1.4911, while UsdJpy climbed to 110.40 before easing back to the figure. The AudUsd consolidated around the 0.8860 level, as August Statement of Monetary Policy held no real surprise one way or the other.

In Australia, the Statement of Monetary Policy didn't provide evidence that rates would be coming down near term. The main paragraph was unchanged from the last statement "On the assumption that the subdued demand conditions are likely to continue, scope to move to a less restrictive monetary policy stance in the period ahead is increasing." If there was a noticeable change in the statement it was a shift in the usual upbeat tone regarding China and India.

Consideration this week will be focused on if the long-bullish sentiment surrounding the Eur has come to an end, due to the slide in commodity prices and change in market perceptions regarding the direction of ECB monetary policy.

In the UK, today's PPI report might show that prices pressures have peaked. However, the CPI released due Thursday is unlikely to have such positive news. We are expecting CPI to rise to 4.1%, with the potential to peak in September

Daily Forex Pivot Point
AUDUSD
R 3: 0.9206
R 2: 0.9131
R 1: 0.9074
CURRENT: 0.8873
S 1: 0.8889
S 2: 0.8875
S 3: 0.8819

EURJPY
R 3: 169.97
R 2: 169.49
R 1: 167.82
CURRENT: 164.58
S 1: 165.01
S 2: 163.00
S 3: 161.73

USDSGD
R 3: 1.4265
R 2: 1.4219
R 1: 1.4058
CURRENT: 1.4072
S 1: 1.3925
S 2: 1.3819
S 3: 1.3767

Throughout our partnership with the industrial leaders, we are capable of delivering incomparable quality of online currency trading service.
ForexGen services are all controlled by the international banking and financial regulatory standards.
ForexGen is continuously providing the Forex market's safest trading terms & conditions. Providing professional currency trading services that meet our client's expectations is our first priority.

ForexGen principals:

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

Forex Market Overview

Forex Market Overview 01 August 2008

The Usd was able to hold on to late day gains in the Asian session, as weak initial jobless claims threaten to end the greenback strength. However, a late US session sell off in oil and less than hawkish comments from ECB members, quickly came to the Usd aid. The EurUsd traded lower from 1.5605 to 1.5550, while the UsdJpy bounced between 108.40 and 107.55. The AudUsd fell sharply lower, as a local media reported that the RBA was ready to start easing, trading down to 0.9360.. In the late Asia trading FX markets have gotten very quiet, as market seem willing to wait until this afternoon’s release of US Non Farm Payrolls. Crude is slightly weaker at $123.34bll, while gold is trading down to $910.50oz. As the trend of falling economic activity continues in the G10, we expect commodity prices to continue to soften, which, in turn, should support the Usd.

Paulson said yesterday in Washington that… "While the stimulus is making our economy stronger than it would have been otherwise, the housing correction, credit market turmoil and high energy prices remain a considerable drag on the economy -- and the effects of this drag can be seen in the soft job market". Paulson also expressed that he sees improvement in the US economy saying..."We are making progress, although not in a straight line. Housing continues to be at the heart of our economic challenges and remains our most significant downside risk…We must work though the necessary adjustments in housing and credit markets to return to growth next year and beyond."

A lack of data in European session will have the market squarely focused on the US session and the release of non-farm payrolls. The much better than expected ADP figures, which printed at 9k, has once again provided intrigue to today already volatile release. We still believe, after yesterday’s jump in initial jobless claims and further deterioration in the Conference Board survey (job component), that the risk are skewed to the downside. In addition, ADP has been overly optimistic in recent months. While we are expecting something slightly higher than the 75k consensus, our gut is saying that anything is possible today, especially how events and sentiment are falling in place for Usd bulls.

Daily Forex Pivot Point

AUDUSD
R 3: 0.9528
R 2: 0.9476
R 1: 0.9419
CURRENT: 0.9369
S 1: 0.9357
S 2: 0.9328
S 3: 0.9276

EURJPY
R 3: 169.73
R 2: 169.19
R 1: 168.31
CURRENT: 167.23
S 1: 167.10
S 2: 166.01
S 3: 165.33

USDSGD
R 3: 1.3850
R 2: 1.3827
R 1: 1.3717
CURRENT: 1.3694
S 1: 1.3606
S 2: 1.3567
S 3: 1.3501

Throughout our partnership with the industrial leaders, we are capable of delivering incomparable quality of online currency trading service.
ForexGen services are all controlled by the international banking and financial regulatory standards.
ForexGen is continuously providing the Forex market's safest trading terms & conditions. Providing professional currency trading services that meet our client's expectations is our first priority.

ForexGen principals:

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

Forex Market Overview

Forex Market Overview 28 July 2008

The Usd was stronger at the start of the trading week in the Asian session. The EurUsd traded around the 1.5700 levels, while the UsdJpy failed to hold above the 108.00 level, slipping down to 107.84 as the day progressed. The NZD was supported by heavy margin buying, according to the Tokyo Financial Exchange publicly released data last week. The UsdNzd was able to rally of the 0.7409 session low to 0.7439. The UsdMxn saw a massive gap on the open, spiking from 10.0200 to 10.1229, as the BANXICO announced the end of its daily selling net fx reserves from accumulated oil revenues. The Jpy fueled carry trades continued to perform well, as risk declined and Japanese economic fundamentals erode. The EurJpy continued to rally from Friday's sell off, which saw 167.50 lows to Asian session 169.70 highs. The Asian stock markets are following the US higher, with Shanghai up 1.78%. Commodities are slightly firmer with wti crude trading up 0.28% to $123.61brl.

Despite the sudden resurgence in the Nzd strength, due partially to the excessive buying of Japanese margin traders and low liquidity, we expect to Nzd to weaken considerable in the coming week. Trade balance narrowed with imports falling on slowing demand but exports grew unexpectedly. With a "normal" monetary policy rate round 6.00% - 6.25% levels and the RBNZ clearly signaling a shift to a growth focus, the interest rate differential long enjoyed by the kiwi will unravel.

No major events or economic data scheduled for release in the UK or Eurozone.

Daily Forex Pivot Points
AUDUSD
R 3: 0.9795
R 2: 0.9675
R 1: 0.9637
CURRENT: 0.9555
S 1: 0.9525
S 2: 0.9477
S 3: 0.9450

EURJPY
R 3: 171.80
R 2: 171.07
R 1: 169.97
CURRENT: 169.13
S 1: 167.50
S 2: 166.00
S 3: 165.33

USDSGD
R 3: 1.3826
R 2: 1.3717
R 1: 1.3660
CURRENT: 1.3638
S 1: 1.3563
S 2: 1.3500
S 3: 1.3448

Throughout our partnership with the industrial leaders, we are capable of delivering incomparable quality of online currency trading service.
ForexGen services are all controlled by the international banking and financial regulatory standards.
ForexGen is continuously providing the Forex market's safest trading terms & conditions. Providing professional currency trading services that meet our client's expectations is our first priority.

ForexGen principals:

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

South Korean Won Slids Deep

The South Korean won fell sharply against the U.S. dollar this week and reached its monthly low against the USD today despite the very weak dollar’s positions and the bullish trend in the Chinese yuan, which is the one of the dominating Asian currencies.

The South Korean government officials are responsible for the strong pledges to support the weakening of the national currency to narrow the current account deficit, which has reached dangerous levels recently.

The Strategy and Finance Minister, Kang Man-soo, stated that the current account balance is one of the primary objective of the monetary policymaking. He stands as a strong supporter for the won’s depreciating.

The won pushing from the government’s side is accompanied with an elevated demand for the U.S. dollar, as the companies need to buy the more expensive oil and other commodities.

Yesterday Soгер Korean won closed at 982.19 per U.S. dollar, today USD/KRW reached 1000.60 and is trading at 998.05 as of 9:49 GMT.

ForexGen provides its institutional clients with incomparable professional and individualized trading services. As a professional online trading service, ForexGen provides several facilities for all kinds of traders. Our corporate and managed trading service performance are based on respect and appreciation which is only achieved by offering intelligent high end trading tools for secure investment. ForexGen is the easiest and fastest gateway for the corporate traders to perform successful trading, which provides a unique institutional investor professional facilities and highly qualified individualized services for the international customer. ForexGen provides advanced online trading software with full corporate trading services. A rich choice of managed accounts are also available, please check our Managed Account Section

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EUR/GBP Reaches New Absolute Maximum

Great Britain pound fell down to a new absolute minimum level against the euro today as the fresh economic data from U.K. signaled that the output growth will probably slow down significantly.

The survey by the Royal Institution of Chartered Surveyors showed that more than at any time since 1978 (the year when they started to collect this data) of its members are reporting lower prices.

The British Retail Consortium also reported that the retail sales in U.K. decreased in March by 1.6% — for the first time in two years, signaling that a weakness in the consumer sector of the economy is accompanying the housing market slump.

EUR/GBP rose from 0.8010 to 0.8041 as of 9:02 GMT today on Forex. Its daily maximum was reached at 0.8063 before retracing to its current rate.

ForexGen provides its institutional clients with incomparable professional and individualized trading services. As a professional online trading service, ForexGen provides several facilities for all kinds of traders. Our corporate and managed trading service performance are based on respect and appreciation which is only achieved by offering intelligent high end trading tools for secure investment. ForexGen is the easiest and fastest gateway for the corporate traders to perform successful trading, which provides a unique institutional investor professional facilities and highly qualified individualized services for the international customer. ForexGen provides advanced online trading software with full corporate trading services. A rich choice of managed accounts are also available, please check our Managed Account Section

ForexGen delivers what traders want: instant order execution, lowest spreads, flexible starting capital, fast deposits and withdrawal, a local support in more than 18 countries, and most of all, solid funds security.

Winning in trading depends on using the right strategy and controlling all the moves. Trading strategies are discussed in details at ForexGen Academy.

UBS Sinks Risk Appetite

ForexGen were steady in Asian session until late in the day when news of another financial institution in trouble sent traders looking for the exists. It was reported that UBS sought $15b in additional capital. Switzerland's largest bank, which is the European bank most afflicted by the mortgage crisis that began in the US, is poised to announce further losses of SFr8.2bn for the first-quarter. There is also an imbroglio as to how the bank might consider facing all its problems. There is a motion from a Swiss pension fund asking for a raise of SFr10bn in rights issue. the bank seeks on the other hand a broader resolution so as to maintain maximum flexibility. The pressure on Marcel Ospel, the bank's chairman, to resign has been mounting. He has always sought, however, to steer the bank through the crisis. The rest everyone knows. The news caught the markets off guard and EurUsd tumbled from 1.5780 to 1.5665 as investors most certainly unwound risk and looked for the greenback as a safe haven. A trade that was duplicated across the G10 currencies. Risk appetite had been steady increase with the help of Paulson, equity markets, and stronger US data but it looks like in the short term the credit crisis has created a risk adverse environment.

In Japan, the Tankan survey was overall weaker then expected falling to a 4-year low in q1. The biggest drop was in CAPEX where capital spending fell 1.6%. After the release a Japanese spokesman said that the report would not change the government's forecast as it still expects the economic recovery to stall.

In Australia, the RBA left it benchmark rate at 7.25% as widely expected. But it was the accompanying statement which moved the Aud to lower levels : "[the] tightening in financial conditions has been substantial [and] inflation will remain high in short term, but decline over time". had clear overtones of prudence albeit less hawkish then the past two statements. Consequently traders sold the Aud as the probability of another hike decreased.

In the Eurozone today the release of both euro-zone and German unemployment rates will be watched. While the labor market in the euro-zone remains in healthy territory there are increasing signals that the recovery has peaked.

In the US ISM manufacturing index will hold the market's attention. We expect the indicator to fall slightly to 47.5. While this reading is more consistent with an economic slowdown then outright recession, the index is perhaps overly optimistic

ForexGen provides its institutional clients with incomparable professional and individualized trading services. As a professional online trading service, ForexGen provides several facilities for all kinds of traders. Our corporate and managed trading service performance are based on respect and appreciation which is only achieved by offering intelligent high end trading tools for secure investment. ForexGen is the easiest and fastest gateway for the corporate traders to perform successful trading, which provides a unique institutional investor professional facilities and highly qualified individualized services for the international customer. ForexGen provides advanced online trading software with full corporate trading services. A rich choice of managed accounts are also available, please check our Managed Account Section

ForexGen delivers what traders want: instant order execution, lowest spreads, flexible starting capital, fast deposits and withdrawal, a local support in more than 18 countries, and most of all, solid funds security.

Winning in trading depends on using the right strategy and controlling all the moves. Trading strategies are discussed in details at ForexGen Academy.

Quiet Open To Week

ForexGen lacked motivation in a quiet Asian session. EurUsd bounced around 1.5761 -1.5817 levels while UsdJpy trended sharply upward from 98.82 to 100.18. Friday ended on a mixed note with stock markets weaker due to some weak US data (Michigan index) and energy and commodities price declined slightly. Over the weekend WSJ reported that Treasury Secretary Paulson would announce today "sweeping structural changes in the way the government monitors financial markets" giving the Fed broader authority to secure "market stability." While we are skeptical of giving the Fed such broad powers with very little oversight we are bracing for a resurgence of risk appetite and will be focused on short Jpy trades this week. On this theme the BoJ Tankan report Tuesday will be of interest. Listening to comments last week it seems that the leadership vacuum has created a lack of unity on how to deal with the combination of growing price risk and slowing economy. While currently the BoJ has not officially adapted an easing bias the market is still pricing in 14bp cut within the next 12 months. JPY remains in favor due to risk aversion and declining carry appetite but these themes could come under pressure this week. Another currency on our watch list this week is Gbp. BoE's King is also scheduled to speak. During the MPC testimony on the Feb inflation report last week the members were more pessimistic regarding the UK economy then previously. In addition, King voiced clear inflation risks, with CPI around 3%, however due to the extent of the economic downturn, he commented MPC is more inclined to cutting rates. We still believe that market hasn't fully pricing in a full easing cycle by the BoE with rates slipping to 4.00% by end 2008 so the Gbp has additional room to depreciate.

ForexGen provides its institutional clients with incomparable professional and individualized trading services. As a professional online trading service, ForexGen provides several facilities for all kinds of traders. Our corporate and managed trading service performance are based on respect and appreciation which is only achieved by offering intelligent high end trading tools for secure investment. ForexGen is the easiest and fastest gateway for the corporate traders to perform successful trading, which provides a unique institutional investor professional facilities and highly qualified individualized services for the international customer. ForexGen provides advanced online trading software with full corporate trading services. A rich choice of managed accounts are also available, please check our Managed Account Section

ForexGen delivers what traders want: instant order execution, lowest spreads, flexible starting capital, fast deposits and withdrawal, a local support in more than 18 countries, and most of all, solid funds security.

Winning in trading depends on using the right strategy and controlling all the moves. Trading strategies are discussed in details at ForexGen Academy.

ForexGen Latest News (N.Korea Tests Missle)

Usd was steady in Asian session as volumes were thin. Majors were range bound for most of the morning with a jolt of risk aversion as news of the latest missile test by North Korea hit the market. Yesterday US data was broadly better then expected giving the Usd a temporary reprieve from selling. However we see this bullish sentiment to have a very short half life. US consumer consumption unexpectedly revised to 2.3% from 1.9% while inflation indicators eased moderately. Markets are still uncertain about how much of the US downbeat economic condition is already priced in to the Usd. However even if a large portion of weakness is already accounted for we believe that when traders will actually see the disturbing data which corresponds with a recession such as negative GDP or Wednesday's durable good orders, the Usd will come under renewed pressure. With BoJ Governor Suda hinting to a possible rate hike yesterday markets were particular interesting in Japan. Inflation pressure was recorded across the board with core CPI hitting 1.0% vs. 0.9% exp. UsdJpy trended down to 99.31 before North Koreas action reversed the downward slide and the market began to price in a lower probability of a rate cut in the next 12 months (from 17bp to 14bp). Nzd and Aud were both strong performers in Asia. New Zealand real GDP q4 increased 1.0% q/q & 3.7% y/y, the strongest quarterly growth since q3 2004. RBNZ Governor Bollard commented that inflation pressures in New Zealand remain relatively strong and the current setting of 8.25% with a flat outlook remains appropriate. Both currencies are still highly coupled with US and Europe growth and commodity prices. In the US the market will be watching Feb income and spending for signals on the health of the consumer and hints to q1 GDP. Retail sales increased moderately which suggests real consumer was stable providing more support that GDP contracted in q1.

ForexGen provides its institutional clients with incomparable professional and individualized trading services. As a professional online trading service, ForexGen provides several facilities for all kinds of traders. Our corporate and managed trading service performance are based on respect and appreciation which is only achieved by offering intelligent high end trading tools for secure investment. ForexGen is the easiest and fastest gateway for the corporate traders to perform successful trading, which provides a unique institutional investor professional facilities and highly qualified individualized services for the international customer. ForexGen provides advanced online trading software with full corporate trading services. A rich choice of managed accounts are also available, please check our Managed Account Section

ForexGen delivers what traders want: instant order execution, lowest spreads, flexible starting capital, fast deposits and withdrawal, a local support in more than 18 countries, and most of all, solid funds security.

Winning in trading depends on using the right strategy and controlling all the moves. Trading strategies are discussed in details at ForexGen Academy.

Dollar Continues to Fall

The dollars' weakness is still the subject of discussion amongst traders around the globe. The weakness of the greenback is as much the result of inherent weakness as to relative frailty when the US economy is compared to its European rivals and Asian rivals. Yesterday the euro advanced when the German business sentiment rose, undermining expectations of rate cut in the eurozone area. This news came in the heels of lackluster figure of US consumer confidence index. The news coming out of Europe reinforces the feeling that the ECB will stay resilient and not curb rates. The dollar was thus under pressure falling 0.7 per cent against the yen and the 1.5 per cent against the Swiss franc and the Australian dollar. The decline of the dollar is bound to continue as the figures of machinery orders dropped by a record number for February. The leveling is still difficult to determine.

ForexGen provides its institutional clients with incomparable professional and individualized trading services. As a professional online trading service, ForexGen provides several facilities for all kinds of traders. Our corporate and managed trading service performance are based on respect and appreciation which is only achieved by offering intelligent high end trading tools for secure investment. ForexGen is the easiest and fastest gateway for the corporate traders to perform successful trading, which provides a unique institutional investor professional facilities and highly qualified individualized services for the international customer. ForexGen provides advanced online trading software with full corporate trading services. A rich choice of managed accounts are also available, please check our Managed Account Section

ForexGen delivers what traders want: instant order execution, lowest spreads, flexible starting capital, fast deposits and withdrawal, a local support in more than 18 countries, and most of all, solid funds security.

Winning in trading depends on using the right strategy and controlling all the moves. Trading strategies are discussed in details at ForexGen Academy.

ForexGen Announced That USD Euphoria Declines

USD was weaker in Asian sessions as traders returned from Easter to question the greenback's euphoria of last week. Eurusd rose to 1.5573 and UsdJpy fell to 100.08. The Usd inability to rally, especially given the positive existing home sales which rebounded yesterday by 2.9% to 5,030,000 in Feb, is a harbinger of near term Usd weakness. Signs of global slowdown should offer some support to the USD, particularly as market have priced in a probability that other central banks might ease their rates in teh short term. This global easing cycle had been predicted at the start of 2008. However we still see further economic weakness and the possibility of real interest rate going negative in the US which would be a heavy burden for the dollar to bear. In the short term the Usd will be vulnerable to any poor data or news. While many of the strategists are calling for Usd strength we expected the market to challenge one more time the 1.58-1.60 lvls before the trend shifts to a prolonged move downwards for reasons mentioned above. On Friday Acting BoJ Governor Shirakawa said that the handling of the recent global financial market turmoil was his top priority. He also mentioned that he had no predetermined monetary policy. The markets are currently pricing in a 15bp cut over the next 12 months. There could be more pricing in of rate cuts should officials agree on a coordinated response at the G7 gathering on April 12-13.
The European markets should be subdued due to a lack of data as markets participants wait for US and CA releases. In Canada we are expecting a rebound in Retail Sales which should keep the Cad in positive territory. Nonetheless the over all feeingl is that the softer commodity prices and exposure to the US economy will keep the currency on the defensive. In the US consumer confidence will garner the markets attention. Speculation and positioning suggests that the market expects a fair low figure.

ForexGen provides its institutional clients with incomparable professional and individualized trading services. As a professional online trading service, ForexGen provides several facilities for all kinds of traders. Our corporate and managed trading service performance are based on respect and appreciation which is only achieved by offering intelligent high end trading tools for secure investment. ForexGen is the easiest and fastest gateway for the corporate traders to perform successful trading, which provides a unique institutional investor professional facilities and highly qualified individualized services for the international customer. ForexGen provides advanced online trading software with full corporate trading services. A rich choice of managed accounts are also available, please check our Managed Account Section

ForexGen delivers what traders want: instant order execution, lowest spreads, flexible starting capital, fast deposits and withdrawal, a local support in more than 18 countries, and most of all, solid funds security.

Winning in trading depends on using the right strategy and controlling all the moves. Trading strategies are discussed in details at ForexGen Academy.

Market Brief

Holiday Mode

The greenback was slightly weaker in Asian session. It looks like the Usd will close this week up for the first time in a month thanks to the Fed aggressive action. London and US markets are closed today for good Friday and this fact should keep trading subdued. The sudden shift in the Usd could be reflective of the change market sentiment toward Feds unorthodox approach to monetary policy and inevitable ECB easing. While being lengthened by the commodity markets sell off. But we don't believe traders should get so bullish on the greenback just yet. The US economy still has plenty of downside risk and we expect the Fed to move closer to 1.00% by mid year. Until this plays out we still see Usd weakness and EurUsd heading higher near term.

ForexGen provides its institutional clients with incomparable professional and individualized trading services. As a professional online trading service, ForexGen provides several facilities for all kinds of traders. Our corporate and managed trading service performance are based on respect and appreciation which is only achieved by offering intelligent high end trading tools for secure investment. ForexGen is the easiest and fastest gateway for the corporate traders to perform successful trading, which provides a unique institutional investor professional facilities and highly qualified individualized services for the international customer. ForexGen provides advanced online trading software with full corporate trading services. A rich choice of managed accounts are also available, please check our Managed Account Section

ForexGen delivers what traders want: instant order execution, lowest spreads, flexible starting capital, fast deposits and withdrawal, a local support in more than 18 countries, and most of all, solid funds security.

Winning in trading depends on using the right strategy and controlling all the moves. Trading strategies are discussed in details at ForexGen Academy.

The Markets Today With ForexGen

Asian Session - Commodities Continue to Sell Off

Usd was stronger in Asian session as the commodity sell off carried over from the US session. We don't see any fundamental drivers for this sudden weakness but the combination of Fed aggressive action stabilizing market confidence and the pure weight of trading position seem to be the most likely culprit. However the combination of steady yields and weakness in gold and other commodities could indicate a period of strength for the Usd. In addition should the Fed signal a reluctance to ease further we could be setting up for the second leg of the "Usd smile" theory.

On the continent markets will be watching flash PMI to provide indication of the extent of the slowing down in economic growth in the eurozone. While feb composite rise was a positive sign the index points to moderation in activity. Markets will be watching diligently especially in light of the euro fall and growing prospects for a ECB move. A weak release will consequently weigh on the Eur.

In the UK retails Sales are likely to see some pull back from the elevated Jan release. In fact we could see Jan figure revised down. In light of yesterday's 7-2 votes as reported in the MPC minutes and the growing expectation of a near term cut, the Gbp should stay weak. Especially given the dramatic two day sell off from 2.0270 down to 1.9776.

ForexGen provides its institutional clients with incomparable professional and individualized trading services. As a professional online trading service, ForexGen provides several facilities for all kinds of traders. Our corporate and managed trading service performance are based on respect and appreciation which is only achieved by offering intelligent high end trading tools for secure investment. ForexGen is the easiest and fastest gateway for the corporate traders to perform successful trading, which provides a unique institutional investor professional facilities and highly qualified individualized services for the international customer. ForexGen provides advanced online trading software with full corporate trading services. A rich choice of managed accounts are also available, please check our Managed Account Section

ForexGen delivers what traders want: instant order execution, lowest spreads, flexible starting capital, fast deposits and withdrawal, a local support in more than 18 countries, and most of all, solid funds security.

Winning in trading depends on using the right strategy and controlling all the moves. Trading strategies are discussed in details at ForexGen Academy.

Forex Trading with ForexGen

Forex, Fx or Foreign Exchange Market is a network of the largest financial institutions in the world such as central banks, commercial banks, and other financial institutions, corporate customers and forex brokers, where foreign currency is bought and sold.

Daily forex trading in traditional forex exchange is very large and was estimated at USD 1.5 trillion in 1998.

The forex market is a 24 hour global forex market that works all week except Saturdays and Sundays with no opening or closing hours.

The four largest forex centers in the world are London, New York, Tokyo and Singapore. Usually forex trading is brisk in North America mornings, or afternoons in Europe due to both markets being open at the same time and usually due to new US economic data being released.

The forex trading markets regularly trade a very wide range of currencies; however the majority of forex transactions are in five major currencies: the US Dollar, the Euro, the British Pound, the Yen and the Swiss Frank . The greatest number of forex currency trades are made against the US Dollar.

ForexGen provides its institutional clients with incomparable professional and individualized trading services. As a professional online trading service, ForexGen provides several facilities for all kinds of traders. Our corporate and managed trading service performance are based on respect and appreciation which is only achieved by offering intelligent high end trading tools for secure investment. ForexGen is the easiest and fastest gateway for the corporate traders to perform successful trading, which provides a unique institutional investor professional facilities and highly qualified individualized services for the international customer. ForexGen provides advanced online trading software with full corporate trading services. A rich choice of managed accounts are also available, please check our Managed Account Section

ForexGen delivers what traders want: instant order execution, lowest spreads, flexible starting capital, fast deposits and withdrawal, a local support in more than 18 countries, and most of all, solid funds security.

Winning in trading depends on using the right strategy and controlling all the moves. Trading strategies are discussed in details at ForexGen Academy.