Welcom to Forex World

Forex Review and Update

siryama4@hotmail.com (Meraj Hussain) — Fri, 09 Oct 2009 10:42:00 +0000

The three-day Wall Street rally, firmness in commodities and weaker dollar came to near-term halt late Friday, even though US data held nothing to really disappoint.

US housing starts were bang in line with expectations at 598k (the previous month was revised up to 589k), initial jobless claims showed a mild improvement to 545k from 557k though this was countered by an increase in continuing claims to 6230k from 6101k.

Later, the Philly Fed index echoed the improvement seen in the Empire State manufacturing index earlier in the week, with a spike up to 14.1 from 4.2 previously, knocking market forecasts of 8.0 for six.

It was a Forex session of negative developments for GBP during the Asian session. Having been a notable laggard to other majors’ gains against the dollar over the last few days (since BOE Governor Mervyn King’s testimony on Tuesday), GBP was pressured again following the publication of a story in the WSJ suggesting GBP could emerge as the new funding currency for the carry trade.

To make matters worse, the UK Telegraph carried news that Lloyds Bank had failed the FSA stress test as it failed to raise enough capital to meet the Financial services authority’s strict requirements, effectively dashing its hopes to withdraw from the government’s toxic debt insurance scheme.

Despite Lloyds’ plans to raise GBP15 bln through a rights issue, preference share conversion and subordinated debt buy-backs, the FSA calculates much more is needed to withstand escalating bad debts as well as the additional GBP28 bln of lending to households and businesses over the next two tears, as agreed with the government. GBP/USD sliced through the 1.64 support level with ease and dragged other majors lower with it.

In developments in the commodities world, talk was circulation in Asia, based on a Dow Jones report, that the IMF was to discuss on Friday plans to sell a portion of its gold holdings as a way of diversifying its income sources. The IMF is the third largest official holder of gold reserves in the world and a sale of 1/8th of its holdings (as rumored) would be the equivalent of 12.97 million ounces. Is it coincidence that gold failed to make headway past the early high of 1,023 yesterday in Europe? Gold was not particularly active during the Asian session, holding above 1,008-1,010 support.

As the new Japanese cabinet get their feet under their desks ahead of the very long weekend, finance minister Fujii enhanced his status as a fiscal disciplinarian by announcing his aims to secure savings of several trillion Yen by cutting wasteful spending from the current fiscal year’s extra budget of JPY14 tln.

As a result, he said a cut in the planned issuance of JGBs was an option. He was non-commital on whether an additional budget may be needed for the current fiscal year, but new Strategy Minister Naoto Kan said such a move may be necessary.

As we head into the weekend, we have a relatively barren data slate. German PPI and Euro-zone current account data kick off the European session with UK public finances also on tap.

Recall the government deficit has seen some dramatic jumps in the last few months, and another one is forecast for August – more pressure for GBP? The BOE also releases its trends in lending report while North American releases are limited to Canadian wholesale sales.

siryama4@hotmail.com (Meraj Hussain) — Fri, 09 Oct 2009 10:38:00 +0000

ACM Advanced Currency Markets SA (hereinafter referred as ACM) is a professional financial intermediary, directly regulated by the Swiss Federal Department of Finance, Anti Money Laundering Control Authority. As forex specialist, ACM provides only currency and precious metals trading via highly professional forex trading software. All customers are aware that this information or any part thereof has been prepared without taking account of your objectives, financial situation and/or needs. This information is not intended as personalized investment advice and does not constitute a recommendation. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. The analysis is based on the information which ACM finds reliable and accurate, but ACM does not assume any responsibility for any material nor for the transactions made on the basis of the information or the estimates of the analysis. ACM cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct, indirect and/or consequential loss arising from any use of this information, document or its content. All opinions and estimates constitute ACM analysis as of the data and are subject to change without notice. ACM does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions. Past performance is not a reliable indicator of future performance.

Forex Currency Trading: Foreign Currency Exchange

siryama4@hotmail.com (Meraj Hussain) — Sat, 19 Sep 2009 19:16:00 +0000

Online community where you can ask and answer questions on any Forex topic. If you have a question about forex trading, this is the place. www.askpips.com

Forex Players Fall In

siryama4@hotmail.com (Meraj Hussain) — Sat, 19 Sep 2009 19:14:00 +0000

Financial Planning, Investment & Credit Facilities A place where you can exchange ideas on how to manage and maximise your money. Discuss about shares, bonds, currencies, properties, insurance, Credit Cards, Credit Facilities etc.

Like I said earlier on, i might have put it in a wrong way which led a misunderstanding to you. So if this will make you happy then.... I am very sorry that i made a mistake about this thread topic and i thought that platform are all the same and some forex players might be trading in commodities at the same time.Its not a forex topic, its calling in forex players and i did'nt know forex players only touches forex and never on commodities.
Now if you wish to continue correct me, I can only say that....I cannot change the thread topic so I can't do anything that can make you feel better that this thread topic is misleading. Now if that still don't satisfy you then tell me, we work something out.

Year Inflation Decrease in Canada

siryama4@hotmail.com (Meraj Hussain) — Sat, 19 Sep 2009 19:12:00 +0000

The consumer price index in Canada increased by 0,2 percent in May, during one month, the National Bureau for statistics reports. The analysts forecasted the factor growth for 0,4% for the forecasted period. The consumer price decreased by 0,2%.

Spot Foreign Exchange – often referred as an interbank trading market and means trade only between the two sides that are large banking or financial institutions. The spot market trading is carried out with the use of margin, taking into account high liquidity comparatively to the futures. That causes high popularity of this trading market with traders and professional financial institutions and professional trading organizations. Stop – stop....

Forex.com.pk - Pak Rupee foreign exchange rate

siryama4@hotmail.com (Meraj Hussain) — Fri, 28 Aug 2009 07:11:00 +0000

Welcome to FOREX.com.pk, This site is designed to provide you upto date forex rates in open market, inter bank & internatioal forex market. You will find historical forex rates, forex charts & graphs, forex articles & much more. Enjoy the site.

Forex Rates Pakistan | Currency Rates | Exchange Rates | Bank Rate

siryama4@hotmail.com (Meraj Hussain) — Fri, 28 Aug 2009 07:09:00 +0000

Tarin urges US to give aid through Pakistani agencies

ISLAMABAD (August 28 2009): Federal Finance Minister Shaukat Tarin has urged the US to channel its assistance through Pakistani agencies to save on high inter-mediation costs incurred by the US counterparts. In an interview with Financial Times, Tarin said half of the planned assistance, pledged by the US to Pakistan, was likely to be wastefully sp [ ... ]

XE - The World's Favorite Currency and Foreign Exchange Site

siryama4@hotmail.com (Meraj Hussain) — Fri, 28 Aug 2009 07:08:00 +0000

XE Tools & Services
Trading	Travel	Data & Tools

Transfer Money	Book Your Trip	Use our Currency Data
Get the best currency rates guaranteed with XE Trade. You'll save time and money on your currency transfers and foreign payments.	Find amazing flight, hotel, & package deals for your vacation or business travel. With the XE Travel rate guarantee, you'll save more when you book hotel + air.	Use the industry's most accurate rates to power your website, accounting package or expense management software. Use the XE Datafeed.

Trade Currency	Read Travel Reviews	Get Currency News
Intro to Currency Trading with various tips like choosing a broker. Find a glossary of forex terms, breaking news, live forex and interest rates. Read our Currency Trading articles.	Our Destination Guide offers honest reviews & opinions from real travelers for cities, hotels, attractions, & restaurants. Before you book a trip, do your travel research.	Use our FREE Currency Charts or read breaking economic news and commentary about currencies and the foreign exchange market. Read XE Forex News.

# # Foreign Exchange (Forex) Open Market Rates of Pakistan, Todays

siryama4@hotmail.com (Meraj Hussain) — Fri, 28 Aug 2009 07:06:00 +0000

Currency Notes
Australian Dollar	68.80	69.80
Bahrain Dinar	218.25	221.00
Canadian Dollar	75.30	76.30
China Yuan	12.00	13.50
Danish Krone	15.80	16.20
Euro	118.00	119.50
Hong Kong Dollar	10.55	10.90
Indian Rupee	1.70	1.80
Japanese Yen	0.8740	0.8840
Kuwaiti Dinar	284.40	287.00
Malaysian Ringgit	23.00	24.50
NewZealand $	56.20	57.20
Norwegians Krone	13.70	14.10
Omani Riyal	213.85	217.00
Qatari Riyal	22.60	22.90
Saudi Riyal	21.92	22.12
Singapore Dollar	56.90	57.90
Swedish Korona	11.60	12.00
Swiss Franc	77.60	78.60
Thai Bhat	2.40	2.60
U.A.E Dirham	22.42	22.62
UK Pound Sterling	134.00	135.50
US Dollar	82.60	83.00

Powerful Data Management

siryama4@hotmail.com (Meraj Hussain) — Sat, 01 Aug 2009 21:23:00 +0000

MultiCharts' local quote management system collects all the data transmitted by any datafeed. It handles all aspects of data maintenance and provides tools for managing the database and symbol list.

MultiCharts supports free quotes as well as streaming data from the leading data providers, including Interactive Brokers (TWS), eSignal, DTN IQFeed, OpenTick, QFeed, Patsystems, MarketCast, CyberTrader, Tenfore and many others. Some traders dislike not having an integrated datafeed. Others appreciate being able to choose the one they want.

Multicharts

siryama4@hotmail.com (Meraj Hussain) — Sat, 01 Aug 2009 21:22:00 +0000

MultiCharts offers an extensive range of conventional chart types: candlesticks, bars, lines, dots, histograms, invisible bars, etc. The Volume Profile chart displays information that is not obvious from standard volume data. Charts support time-based (second, minute, hour, day, week, month, quarter, year) and count-based compressions (tick, the number of trades, the number of contracts traded, price movement in points). MultiCharts lets you easily plot charts for any custom compression, for instance, 3 seconds, 20 ticks, 1000 contracts or 10 points.

Trading

siryama4@hotmail.com (Meraj Hussain) — Sat, 01 Aug 2009 21:19:00 +0000

Trading characteristics.

There is no unified or centrally cleared market for the majority of FX trades, and there is very little cross-border regulation. Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of interconnected marketplaces, where different currencies instruments are traded. This implies that there is not a single exchange rate but rather a number of different rates (prices), depending on what bank or market maker is trading, and where it is. In practice the rates are often very close, otherwise they could be exploited by arbitrageurs instantaneously. Due to London's dominance in the market, a particular currency's quoted price is usually the London market price. A joint venture of the Chicago Mercantile Exchange and Reuters, called Fxmarketspace opened in 2007 and aspired but failed to the role of a central market clearing mechanism.

The main trading center is London, but New York, Tokyo, Hong Kong and Singapore are all important centers as well. Banks throughout the world participate. Currency trading happens continuously throughout the day; as the Asian trading session ends, the European session begins, followed by the North American session and then back to the Asian session, excluding weekends.

Fluctuations in exchange rates are usually caused by actual monetary flows as well as by expectations of changes in monetary flows caused by changes in gross domestic product (GDP) growth, inflation (purchasing power parity theory), interest rates (interest rate parity, Domestic Fisher effect, International Fisher effect), budget and trade deficits or surpluses, large cross-border M&A deals and other macroeconomic conditions. Major news is released publicly, often on scheduled dates, so many people have access to the same news at the same time. However, the large banks have an important advantage; they can see their customers' order flow.

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 is expressed (called base currency). For instance, EUR/USD is the price of the euro expressed in US dollars, as in 1 euro = 1.5465 dollar. Out of convention, the first currency in the pair, the base currency, was the stronger currency at the creation of the pair. The second currency, counter currency, was the weaker currency at the creation of the pair.

Non-bank Foreign Exchange Companies

siryama4@hotmail.com (Meraj Hussain) — Sat, 01 Aug 2009 21:18:00 +0000

Non-bank foreign exchange companies offer currency exchange and international payments to private individuals and companies. These are also known as foreign exchange brokers but are distinct in that they do not offer speculative trading but currency exchange with payments. I.e., there is usually a physical delivery of currency to a bank account.

It is estimated that in the UK, 14% of currency transfers/payments^[10] are made via Foreign Exchange Companies.^[11] These companies' selling point is usually that they will offer better exchange rates or cheaper payments than the customer's bank. These companies differ from Money Transfer/Remittance Companies in that they generally offer higher-value services.

Forex Co.

siryama4@hotmail.com (Meraj Hussain) — Sat, 01 Aug 2009 21:17:00 +0000

Commercial companies.

An important part of this market comes from the financial activities of companies seeking foreign exchange to pay for goods or services. Commercial companies often trade fairly small amounts compared to those of banks or speculators, and their trades often have little short term impact on market rates. Nevertheless, trade flows are an important factor in the long-term direction of a currency's exchange rate. Some multinational companies can have an unpredictable impact when very large positions are covered due to exposures that are not widely known by other market participants.

Banks

siryama4@hotmail.com (Meraj Hussain) — Sat, 01 Aug 2009 21:17:00 +0000

he interbank market caters for both the majority of commercial turnover and large amounts of speculative trading every day. A large bank may trade billions of dollars daily. Some of this trading is undertaken on behalf of customers, but much is conducted by proprietary desks, trading for the bank's own account. Until recently, foreign exchange brokers did large amounts of business, facilitating interbank trading and matching anonymous counterparts for small fees. Today, however, much of this business has moved on to more efficient electronic systems. The broker squawk box lets traders listen in on ongoing interbank trading and is heard in most trading rooms, but turnover is noticeably smaller than just a few years ago.

Market size and liquidity

siryama4@hotmail.com (Meraj Hussain) — Sat, 01 Aug 2009 21:16:00 +0000

Presently, the foreign exchange market is one of the largest and most liquid financial markets in the world. Traders include large banks, central banks, currency speculators, corporations, governments, and other financial institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Daily turnover was reported to be over US$3.2 trillion in April 2007 by the Bank for International Settlements. ^[2] Since then, the market has continued to grow. According to Euromoney's annual FX Poll, volumes grew a further 41% between 2007 and 2008.^[3]

Of the $3.98 trillion daily global turnover, trading in London accounted for around $1.36 trillion, or 34.1% of the total, making London by far the global center for foreign exchange. In second and third places respectively, trading in New York accounted for 16.6%, and Tokyo accounted for 6.0%.^[4] In addition to "traditional" turnover, $2.1 trillion was traded in derivatives.

Exchange-traded FX futures contracts were introduced in 1972 at the Chicago Mercantile Exchange and are actively traded relative to most other futures contracts.

Several other developed countries also permit the trading of FX derivative products (like currency futures and options on currency futures) on their exchanges. All these developed countries already have fully convertible capital accounts. Most emerging countries do not permit FX derivative products on their exchanges in view of prevalent controls on the capital accounts. However, a few select emerging countries (e.g., Korea, South Africa, India—[1]; [2]) have already successfully experimented with the currency futures exchanges, despite having some controls on the capital account.

Foreign exchange market part-1

siryama4@hotmail.com (Meraj Hussain) — Sat, 01 Aug 2009 21:13:00 +0000

The foreign exchange market (currency, forex, or FX) trades currencies. It lets banks and other institutions easily buy and sell currencies. ^[1]

The purpose of the foreign exchange market is to help international trade and investment. A foreign exchange market helps businesses convert one currency to another. For example, it permits a U.S. business to import European goods and pay Euros, even though the business's income is in U.S. dollars.

In a typical foreign exchange transaction a party purchases a quantity of one currency by paying a quantity of another currency. The modern foreign exchange market started forming during the 1970s when countries gradually switched to floating exchange rates from the previous exchange rate regime, which remained fixed as per the Bretton Woods system.

The foreign exchange market is unique because of

its trading volumes,
the extreme liquidity of the market,
its geographical dispersion,
its long trading hours: 24 hours a day except on weekends (from 22:00 UTC on Sunday until 22:00 UTC Friday),
the variety of factors that affect exchange rates.
the low margins of profit compared with other markets of fixed income (but profits can be high due to very large trading volumes)
the use of leverage

Automated Currency Trading

siryama4@hotmail.com (Meraj Hussain) — Sat, 01 Aug 2009 20:45:00 +0000

Forex System Automate Your Trading—Check, Select, Apply

Create your automated portfolio from over 40 back-tested systems based on performance
Automate trading to capture opportunities 24 hours a day
Remove the emotion and guesswork from trading

Why should I learn Forex currency trading?

siryama4@hotmail.com (Meraj Hussain) — Sat, 01 Aug 2009 20:44:00 +0000

By reaching to our website, I think you are already aware that Forex trading is a good way to make money at home. More over, I bet you knew someone, or would have heard of someone, who's already making tons of good money in FX trading.

But what you wouldn't know is that 7 out of 10 traders keep losing money in Forex market! That's right, 70% of individual FX traders keep losing their hard-earned money in the market; while the rest of the 30% work freely at home and earn millions annually)

Wonder what differs between the losing 70% and the winning 30%?

Forex trading skills and the trading system! If you want to work less than 20 hours a day at home, if you want to make millions by trading freely at home, if you want to have financial freedom by trading Forex; you better LEARN Forex trading before you start trading Forex. Forex market is definitely not a game for newbie and you need to brush up your skills before getting your hands wet.

Today's Forex Strategy

siryama4@hotmail.com (Meraj Hussain) — Sat, 01 Aug 2009 20:41:00 +0000

US economy shrinks less than expected in Q2, but initial reaction doesn't celebrate the news. More important data next week.

Bond markets are in rally mode, though reaction in the JPY crosses is so far inconclusive for those looking for a bearish reversal.

How to Trade Forex

siryama4@hotmail.com (Meraj Hussain) — Sat, 01 Aug 2009 20:40:00 +0000

Trading foreign exchange is exciting and potentially very profitable, but there are also significant risk factors. It is crucially important that you fully understand the implications of margin trading and the particular pitfalls and opportunities that foreign exchange trading offers. On these pages, we offer you a brief introduction to the Forex markets as well as their participants and some strategies that you can apply. However, if you are ever in doubt about any aspect of a trade, you can always discuss the matter in-depth with one of our dealers. They are available 24 hours a day on the Saxo Bank online trading system, SaxoTrader.

The benchmark of its service is efficient execution, concise analysis and expertise – all achieved whilst maintaining an attractive and competitive cost structure. Today, Saxo Bank offers one of Europe's premier all-round services for trading in derivative products and foreign exchange. We count amongst our employees numerous dealers and analysts, each of whom has many years experience and a wide and varied knowledge of the markets – gained both in our home countries and in international financial centres. When trading foreign exchange, futures and other derivative products, we offer 24-hour service, extensive daily analysis, individual access to our Research & Analysis department for specific queries, and immediate execution of trades through our international network of banks and brokers. All at a price considerably lower than that which most companies and private investors normally have access to.

The combination of our strong emphasis on customer service, our strategy and trading recommendations, our strategic and individual hedging programmes, along with the availability to our clients of the latest news and information builds a strong case for trading an individual account through Saxo Bank.

Terms of trading are agreed individually depending on the volume of your transactions, but are generally much lower in cost when compared to banks and brokers. Your margin deposit can be cash or government securities, bank guarantees etc. Large corporate or institutional clients may be offered trading facilities on the strength of their balance sheet. The minimum deposit accepted for an individual trading account depends on the account type. Trade confirmations and real-time account overview are built into SaxoTrader, while further account information can be produced in accordance with your specific requirements.

Funny forex stories

siryama4@hotmail.com (Meraj Hussain) — Thu, 30 Jul 2009 11:40:00 +0000

1. Currency exchange

A Japanese guy (J) is at Los Angeles International Airport, waiting for his flight back home to Japan. While he's waiting, he goes to the currency exchange counter to change his remaining dollars.

He counts his money at the counter and says to the clerk (C):

J: Wait a minute. When I came here I got more dollars for my yen. What's going on here?

C: Fluctuations.

The Japanese man stiffens.

J: Well! Fluck you Americans, too!

2. Lottery

A broker named, Jean Paul, moved to Texas and bought a donkey from an old farmer named Ben for $100. The farmer agreed to deliver the donkey the next day.

The next day, Ben drove up and said,

Ben: Sorry, but I have some bad news. The donkey died.

Jean Paul: Well, then, just give me the money back,

Ben: Can't do that. I went and spent it already.

Jean Paul: OK, then. Just unload the donkey,

Ben: What ya going to do with him?

Jean Paul: I'm going to raffle him off,

Ben: You can't raffle off a dead donkey!

Jean Paul: Sure can. Watch me. I just won't tell that he's dead,

A month later Ben met up with the Cajun and asked,

Ben: What happened with that dead donkey?

Jean Paul: I raffled him off, I did. I sold 500-hunderd tickets at two dollars apiece and made a profit of $898,

Ben: Didn't anyone complain?

Jean Paul: Just the guy who won. So I gave him his two dollars back.

Lessons from a Trading Legend

siryama4@hotmail.com (Meraj Hussain) — Thu, 30 Jul 2009 11:38:00 +0000

Tradable or Fadable

siryama4@hotmail.com (Meraj Hussain) — Thu, 30 Jul 2009 11:36:00 +0000

Sex before the Bible

siryama4@hotmail.com (Meraj Hussain) — Thu, 30 Jul 2009 11:35:00 +0000