News & Reviews

NEW FOREX TRADERS

2009-11-10T21:49:00.000-08:00

Understand the role of the Forex Clearing Merchant and learn the benefits of currency trading. Find out about the free Forex trading tools eFOREX offers.

What is the Forex?

If you are new to the Forex, you can start by developing a better understanding of what it is and how it works. Read an overview of this exciting market.

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Forex Glossary of Terms

Whether your goal is to simply build your vocabulary or to research a specific term, check out this list of Forex terms with industry-specific language. FOREX TRADERS
List of Forex Terms

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Spreads and Pricing
eFOREX understands that every pip counts. We offer competitive spreads as low as two (2) pips.

Competitive spreads

Leverage and Margin
Because of eFOREX’s capitalization and our relationships with our counterparties, we can offer leverageof 200:1 (or 0.5% margin).

Forex Margins

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The eFOREX Advantage

2009-11-10T21:22:00.000-08:00

eFOREX is committed to providing cutting-edge technology and solutions to novice and professional Forex traders alike. With multiple trading platforms and charting options, eFOREX is confident that we will be able to meet your Forex investment needs.

We offer the following tools and services:

FREE Forex Practice Trading Account that allows you to test your strategies risk-free using virtual funds
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What is Forex

2009-11-10T06:01:00.000-08:00

FOREX - the foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world.
Some of the participants in this market are simply seeking to exchange a foreign currency for their own, like multinational corporations which must pay wages and other expenses in different nations than they sell products in. However, a large part of the market is made up of currency traders, who speculate on movements in exchange rates, much like others would speculate on movements of stock prices. Currency traders try to take advantage of even small fluctuations in exchange rates.
In the foreign exchange market there is little or no 'inside information'. Exchange rate fluctuations are usually caused by actual monetary flows as well as anticipations on global macroeconomic conditions. Significant news is released publicly so, at least in theory, everyone in the world receives the same news at the same time.
Currencies are traded against one another. Each pair of currencies thus constitutes an individual product and is traditionally noted XXX/YYY, where YYY is the ISO 4217 international three-letter code of the currency into which the price of one unit of XXX currency is expressed. For instance, EUR/USD is the price of the euro expressed in US dollars, as in 1 euro = 1.2045 dollar.
Unlike stocks and futures exchange, foreign exchange is indeed an interbank, over-the-counter (OTC) market which means there is no single universal exchange for specific currency pair. The foreign exchange market operates 24 hours per day throughout the week between individuals with forex brokers, brokers with banks, and banks with banks. If the European session is ended the Asian session or US session will start, so all world currencies can be continually in trade. Traders can react to news when it breaks, rather than waiting for the market to open, as is the case with most other markets.
Average daily international foreign exchange trading volume was $1.9 trillion in April 2004 according to the BIS study.
Like any market there is a bid/offer spread (difference between buying price and selling price). On major currency crosses, the difference between the price at which a market maker will sell ("ask", or "offer") to a wholesale customer and the price at which the same market-maker will buy ("bid") from the same wholesale customer is minimal, usually only 1 or 2 pips. In the EUR/USD price of 1.4238 a pip would be the '8' at the end. So the bid/ask quote of EUR/USD might be 1.4238/1.4239.
This, of course, does not apply to retail customers. Most individual currency speculators will trade using a broker which will typically have a spread marked up to say 3-20 pips (so in our example 1.4237/1.4239 or 1.423/1.425). The broker will give their clients often huge amounts of margin, thereby facilitating clients spending more money on the bid/ask spread. The brokers are not regulated by the U.S. Securities and Exchange Commission (since they do not sell securities), so they are not bound by the same margin limits as stock brokerages. They do not typically charge margin interest, however since currency trades must be settled in 2 days, they will "resettle" open positions (again collecting the bid/ask spread).
Individual currency speculators can work during the day and trade in the evenings, taking advantage of the market's 24 hours long trading day.

Forex

2009-11-08T10:57:00.000-08:00

FOREX.com is a global provider of online trading services, servicing customers in over 140 countries.

Trade currencies and other products via our award-winning trading platform and access a suite of advanced trading tools, including powerful real-time charts and expert market research.

Find Your Use Car

2009-11-08T10:51:00.000-08:00

US Unemployment rate shoots to 102%,

2009-11-07T08:59:00.001-08:00

even as trend in Nonfarm Payrolls is steadily improving now.

Ugly Canadian employment data knocks CAD for steep losses initially but risk attempts comeback after NY open.

Top Forex News

2009-11-06T19:37:00.000-08:00

Yen Gains on U.S. Job Losses

November 6th, 2009

Demand for safety rose towards the end of this week’s session as U.S. payrolls were cut beyond analysts expectations, suggesting that the economic recovery in North America will take longer than previously imagined by economists.

Posted in Japanese Yen | No Comments »

Dollar Gains Slightly as Unemployment Rises

November 6th, 2009

Risk appetite suffered a significant impact towards the end of this week’s session after both U.S. and Canada published grim employment figures, forcing investors to take more cautions positions and bet once again in the relative safety provided bydollar-priced assets.

Posted in U.S. Dollar | No Comments »

Canadian Dollar Down on Job Figures

November 6th, 2009

After a lot of expectation regarding Canadian employment figures that were published today, the loonie fell drastically versus most of 16 main traded currencies and specially versus its U.S. counterpart, as negative job figures shunned investors away from assets in Canada.

Posted in Canadian Dollar | No Comments »

Canadian Dollar Remain High Before Jobs Report

November 5th, 2009

The Canadian dollar remained neutral at the highest level in more than a week before an employment rate which is due to be published tomorrow, defining the outlook for the loonie for the next week, since jobs figures are an important data to measure a country’s economic conditions.

Posted in Canadian Dollar | No Comments »

Euro Up as ECB Shifts Stimulus Program

November 5th, 2009

The euro pared previous losses with a number of currencies this Thursday as the ECB affirmed that a series of measures used to stimulate the bloc’s economy on its way out of recession will be phased out, adding evidences that the economic health in the Eurozone is improving significantly.

Posted in Euro | No Comments »

Pound Up as Asset Purchase Program Changes

November 5th, 2009

The pound climbed significantly versus the dollar, and to a lesser extent versus the euro as the national central bank extended its asset-purchase program less than expected, suggesting that the British economy is needing less government stimulus to find its way out of recession, increasing attractiveness for the U.K. currency.

Posted in Great Britain Pound | No Comments »

Jobless Rates Push New Zealand Dollar Down

November 5th, 2009

The New Zealand dollar lost versus most of the 16 main traded currencies this Thursday as the quarterly unemployment rate in the country grew further, decreasing attractiveness for the kiwi, as growing unemployment figures are a sign of bad economic health.

Posted in New Zealand Dollar | No Comments »

Dollar Down Before Fed Decision

November 4th, 2009

The dollar had a day of losses versus most of 16 main traders before the Fed will publish its monetary policies decisions tomorrow, as investors expect a rather dovish tone in policy makers’ statements.

Posted in U.S. Dollar | 1 Comment »

Brazilian Real Extends Gains on Domestic Optimism

November 4th, 2009

Several reasons are providing support for the Brazilian currency to extend this week’s gains as risk appetite rose today increasing demand for commodities, injecting money in Latin American stocks, consequently adding confidence towards the real’s outlook.

Posted in Brazilian Real | No Comments »

Canadian Dollar Extends Rally Before Fed Statement

November 4th, 2009

The Canadian dollar continued to gain this Wednesday versus the greenback as demand for commodities produced in Canada and stocks worldwide gained significantly, raising attractiveness for the loonie even further, after several sessions of losses during the past week.

Trade Deficit At US$1.61 Bln

2009-11-06T19:34:00.000-08:00

Financial: Macedonia's Jan.-Sept. Trade Deficit At US$1.61 Bln 52 mins

(RTTNews) - Macedonia's trade deficit stood at US$1.61 billion in the January to September period, the State Statistical Office said in a report on Friday.

Forex Trading Guides

2009-11-06T10:47:00.001-08:00

The forex trading guides help to understand the essential fundamentals and practical factors impacting key forex rates. They identify pertinent officials, institutions and economic indicators most likely to move the FOREX market.

To learn about all the factors guiding the pairs listed below, please see "Foreign Exchange Markets: A Practical Guide", an innovative approach to covering FX fundamental and technical analysis.

Factors Affecting the US Dollar
Factors Affecting USD/JPY
Factors Affecting EUR/USD
Factors Affecting GBP/USD
Factors Affecting USD/CHF
Factors Affecting AUD/USD
Factors Affecting USD/CAD

FX Performance

2009-11-06T10:46:00.001-08:00

Currency	Last	Yesterday Close	% Change	2006 Open	YTD	MTD
EURUSD	1.4837	1.4866	-0.2%	1.3196	12.43%	0.75%
USDJPY	89.82	90.760	-1.04%	119.03	-24.54%	-0.18%
GBPUSD	1.6604	1.6583	0.13%	1.9583	-15.21%	0.97%
USDCHF	1.0175	1.0163	0.12%	1.2186	-16.5%	-0.71%
AUDUSD	0.9165	0.9102	0.69%	0.7896	16.07%	1.82%
USDCAD	1.0741	1.0644	0.91%	1.1416	-5.91%	-0.51%
AUDJPY	82.33	82.610	-0.34%	93.99	-12.41%	1.65%
EURJPY	133.29	134.95	-1.23%	157.08	-15.15%	0.57%
EURCHF	1.5097	1.5109	-0.08%	1.6081	-6.12%	0.03%
EURGBP	0.8933	0.8962	-0.32%	0.6736	32.61%	-0.21%
GBPCHF	1.6896	1.6855	0.24%	2.3867	-29.21%	0.26%
GBPJPY	149.16	150.52	-0.9%	233.12	-36.02%	0.8%

Charts Package

2009-11-05T23:18:00.000-08:00

According to FOREX.com

2009-11-05T23:12:00.001-08:00

06.10.09 - U.S. Dollar Likely to Recover During Fourth Quarter According to FOREX.com

Dollar Edges Higher by Korman Tam

2009-11-05T08:45:00.001-08:00

The dollar was mixed against the majors, climbing higher against the euro to 1.4628 but sliding versus the British pound past the 1.64-level to 1.6419. Spot gold rose to a new record high above the $1,080-mark to $1,083.50 per ounce while crude oil continued to trade beneath $80-per barrel.

The US economic reports released earlier today saw September durable goods and factory orders. The headline durable goods orders increased by 1.4% in September versus 1.0% previously, while the ex-transportations figure rose by 1.2% from 0.9% in August. Meanwhile, factory orders reversed the 0.8% decline in August, increasing by 0.9%.

NEWS & ANALYSIS

2009-11-05T08:42:00.001-08:00

1PM	Dollar Edges Higher
3PM	USD Recovers from Losses
2PM	US GDP Surges, EUR Advances
2PM	Weak Confidence Props USD

OPEN MARKET FOREX RATES

2009-11-04T19:48:00.000-08:00

Updated at: 5/11/2009 8:08 AM (PST)

Remittance

Buying

Selling

US Dollar TT	83.95	84.65
US Dollar DD	83.95	84.65
Currency Notes
Australian Dollar	75.10	76.10
Bahrain Dinar	220.75	223.00
Canadian Dollar	78.00	79.00
China Yuan	12.00	13.50
Danish Krone	16.40	16.80
Euro	123.30	124.80
Hong Kong Dollar	10.70	10.90
Indian Rupee	1.70	1.80
Japanese Yen	0.9200	0.9300
Kuwaiti Dinar	287.50	290.00
Malaysian Ringgit	23.00	24.50
NewZealand $	59.95	60.95
Norwegians Krone	14.40	14.80
Omani Riyal	216.20	219.00
Qatari Riyal	22.85	23.05
Saudi Riyal	22.25	22.45
Singapore Dollar	59.40	60.40
Swedish Korona	11.60	12.00
Swiss Franc	81.20	82.20
Thai Bhat	2.40	2.60
U.A.E Dirham	22.73	22.93
UK Pound Sterling	137.00	138.50
US Dollar	84.05	84.45

Govt decides to import 1 mln tones sugar

2009-11-04T09:31:00.000-08:00

Updated at: 2001 PST, Wednesday, November 04, 2009
ISLAMABAD: Federal Minister for Information and Broadcasting Qamar Zaman Kaira Wednesday said the Federal Cabinet has granted approval to three important policies.

Briefing the media after the Federal Cabinet’s meeting, the Minister said decision has been made to undertake gas load-management from November 15, 2009 to March 15, 2010.

He said the decision has been made under compulsion. However, he added that gas supply to domest

Euro Grows Against Yen on Economical Optimism

2009-11-03T06:57:00.001-08:00

The European currency surged against the Japanese yen and the other major Forex-traded currencies today as the traders reacted to the signs of the global economy recovery with buying high-yielding assets and currencies financed by relatively cheap loans in USD and JPY

FOREX-U.S. dollar, yen weaken as risky assets edge higher

2009-11-03T06:54:00.001-08:00

* Positive U.S. data boosts risk sentiment, euro

* U.S. stocks still driving FX market

* Fed official says U.S. banks still at risk

* Markets await Australian central bank decision (Updates prices, adds quotes)

By Gertrude Chavez-Dreyfuss

NEW YORK, Nov 2 (Reuters) - The dollar and yen fell on Monday in volatile trading as steady stocks and data showing further evidence of an economic recovery around the world dampened safe-haven demand for the U.S. and Japanese currencies.

U.S. reports showed sharp improvements in manufacturing, construction and housing, encouraging investors to buy riskier assets with higher yields.

As a result, U.S. stock indexes rose, though stocks later trimmed gains on concerns about banks' soured loans and worries about whether the seven-month rally has run out of steam.

NEWS & ANALYSIS

2009-11-03T06:46:00.001-08:00

3PM USD Recovers from Losses
2PM US GDP Surges, EUR Advances
2PM Weak Confidence Props USD
2PM EUR & GBP Buoyed

News & Reviews

NEW FOREX TRADERS

FREE e-Book

FREE Forex Practice Trading Account

Trading Platforms

Whether your goal is to simply build your vocabulary or to research a specific term, check out this list of Forex terms with industry-specific language. FOREX TRADERSList of Forex Terms

Whether your goal is to simply build your vocabulary or to research a specific term, check out this list of Forex terms with industry-specific language. FOREX TRADERS

ACTIVE FOREX TRADERS

Spreads and Pricing

Leverage and Margin

Trading Platforms

The eFOREX Advantage

We offer the following tools and services:

What is Forex

Forex

FOREX.com is a global provider of online trading services, servicing customers in over 140 countries.

Find Your Use Car

US Unemployment rate shoots to 102%,

even as trend in Nonfarm Payrolls is steadily improving now.

Top Forex News

Trade Deficit At US$1.61 Bln

Forex Trading Guides

FX Performance

Charts Package

According to FOREX.com

Dollar Edges Higher by Korman Tam

NEWS & ANALYSIS

OPEN MARKET FOREX RATES

Govt decides to import 1 mln tones sugar

Euro Grows Against Yen on Economical Optimism

FOREX-U.S. dollar, yen weaken as risky assets edge higher

NEWS & ANALYSIS

Whether your goal is to simply build your vocabulary or to research a specific term, check out this list of Forex terms with industry-specific language. FOREX TRADERS
List of Forex Terms