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gezter
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Everything posted by gezter
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Merkel -We are Firmly determined to Get Decisions on Treaty Change at This Week's Summit
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Uk's Cameron - if There Is Eu Treaty Change, Will "protect and Enhance Britain's Interest"
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Australian Dollar Edges Up Against Majors After moving broadly sideways in the Asian session, the Australian dollar resumed uptrend against most of its major rivals ahead of the European session on Friday. The aussie is presently quoted at 79.70 against the yen and 1.0250 against the US dollar, up from previous lows of 79.42 and 1.0210, respectively. Against the euro, the Australian dollar inched higher to 1.3152 around 2:50 am ET from a session's low of 1.3195 hit around 2:00 am ET. The euro-aussie pair is presently trading at 1.3162.
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Pound Strengthens As Stocks Recover On China RRR Cut U.K.'s sterling edged higher against its major rivals in early deals on Wednesday as European equities snapped back on a surprise Chinese action to cut its reserve requirement ratio by 50 basis points. China's central bank decided to reduce the reserve requirement ratio for banks to ease domestic liquidity conditions. The People's Bank of China cut the required reserve ratio by 50 basis points to 21 percent, effective December 5. This is the first reduction since December 2008. The U.K. FTSE 100 index advanced 1 percent, Germany's DAX rose 1.02 percent and France's CAC-40 index advanced to 0.88 percent around 7:00 am ET. European stocks were trading in negative territory at the beginning of the session as Standard & Poor's cut credit ratings of 15 big banking companies, mostly in Europe and the United States as part of a sweeping overhaul of its ratings criteria. Eurozone finance ministers on Tuesday agreed to leverage the capacity of the European Financial Stability Facility, or EFSF, by introducing sovereign bond partial risk participation and a Co-Investment approach so that the new instruments available to the bailout fund can be used efficiently. In economic news, Confidence among British consumers increased slightly in November, but the ongoing turmoil in Europe and concerns of the UK economy sliding into recession are likely to weigh on consumer morale in the coming months, the latest survey results from research firm GfK NOP showed today. The headline consumer confidence index rose to -31 from October's -32, which was the weakest reading since February 2009. Economists expected a decline to -33. UK's sterling advanced to a 5-day high of 1.4414 against the Swiss franc around 6:45 am ET Wednesday. The pound-franc pair is presently trading below 1.44 with 1.4460 seen as the next likely resistance level. A key indicator of the health of Switzerland's economy dropped more-than-expected in November, suggesting that growth is further losing momentum, a survey by the KOF Swiss Economic Institute showed today. The KOF Economic Barometer fell to a new low of 0.35 from October's 0.75, which was revised from 0.80. Economists had forecast the index to decline to 0.65. The pound jumped to 0.8526 against the euro around 6:45 am ET, its highest level since November 18. On the upside, the pound may find target around the 0.8520 level in the near-term. The pair is presently trading at 0.8535. Eurozone inflation remained at the highest level since October 2008, flash estimates from Eurostat showed today. Inflation was 3 percent in November, unchanged from October. The figure has been staying above the central bank target of 'below, but close to 2 percent' since December 2010. At the same time, the euro area jobless rate rose to 10.3 percent in October from 10.2 percent in September, Eurostat reported today. The number of unemployed increased by 126,000 from the prior month to 16.294 million in October. Extending its 4-day winning streak, the pound touched above 122.0 against the yen around 6:40 am ET and this set the highest level for the pair since November 16. The next barrier for the GBP/JPY pair could be at its 20-day SMA of 122.30. The pair is presently trading at 121.71. The biggest risk to Japan's recovery in the long run is future developments associated with the sovereign debt problem in Europe and their effects on the global financial markets, Bank of Japan Deputy Governor Kiyohiko Nishimura said today. "Needless to say, the risk factor that should cause most concern is future developments in the sovereign debt problem in Europe and their effects on global financial markets and the global economy," the policymaker said in a speech at a meeting with business leaders in Kyoto. At the same time, industrial production in Japan climbed a seasonally adjusted 2.4 percent on month in October, well above forecasts for an increase of 1.1 percent following the 3.3 percent contraction in September. On an annual basis, output collected 0.4 percent - also topping forecasts for a decline of 1.0 percent after shedding 3.3 percent in the previous month. The pound also reached as high as 1.5641 against the US dollar before erasing some gains around 6:40 am ET. The cable is presently worth 1.56 with 1.5540 seen as the next likely support level and 1.5650 seen as the probable resistance. Traders are now likely to focus in the North American session, in which the US ADP employment for November, non-farm productivity and unit labor costs for the third quarter, Chicago PMI for November and pending home sales for October are slated for release.
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Eur/gbp Likely to Weaken Further The latest Bundesbank Monthly Report showed a sharp (negative) reappraisal of German 2012 growth prospects. This plays most obviously negative for EUR/GBP through rate spreads. Rates have continued to move in favour of GBP vs the EUR. Each 25bp change in 2y year swap spread reduced fair-value by 2 cents. Combining this with other indicators, such as Spanish CDS, suggests EUR/GBP is likely to weaken further. 0.8499 is a key support. If we print a couple of closes below this level, then there is potential for a move to 0.8356, 0.8286. Topside risks come in between 0.8662 and 0.8748.
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Representative office of FBS is opened in Shanghai Dear traders! We are happy to announce that new representative office is opened in Shanghai. If you are in China you can get all the answers to any questions about your trading in Forex and professional support for your work with FBS. In addition, special educational seminars will be conducted and peculiar promotions will be offered to all the people from China. FBS continues its active development in Asian countries with opening office in Shanghai. FBS plans to extend its regional expansion and improve trading services. Trade with FBS and be successful! All the specialists of new office of FBS in Shanghai are always ready to answer your questions: +86 21 28909094 or 400 1 200 507 (all the calls are free from China). You are welcome! Chinese version of FBS website: FBS Markets Inc. Forex CFD Futures
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Dollar Nearing January Highs As Europe Dithers On Rescue; S&P Cuts Belgium The dollar jumped to its highest since early October versus the euro on Friday, bolstered by fears that European officials lack the coordination to handle an escalating sovereign debt crisis. Political leaders remain at odds over whether to contribute more funds to the European Financial Stability Fund. The capacity to expand its European Financial Stability Facility (EFSF) rescue fund to more than EUR 1 trillion from EUR 440 billion is doubtful, given the sharp deterioration in market conditions, the Financial Times reported, citing three unnamed senior euro-area officials. Meanwhile Germany, the region's most powerful economy, refuses to participate in a new "euro bond" that would effectively collectivize debt and enable its sickly neighbors to borrow at lower rates. German Chancellor Angela Merkel said that a euro bond is "not necessary and not appropriate." Earlier in the week, paltry demand for German debt rattled markets, and today the Italian 2-year yields briefly crossed the 8 percent mark. In the last hour, Standard & Poor's has downgraded the long-term sovereign credit rating of Belgium to AA from AA+, citing renewed funding and market risk pressure. The dollar rallied to $1.3211 versus the euro, picking up more than a penny from the previous session. A move to $1.3140 would take the dollar to its highest since January. The buck surged to $1.5434 versus the sterling, adding to this week's big gains. The dollar and yen were big winners this week due to risk aversion, as stocks suffered their worst Thanksgiving week in decades. The buck pushed slightly higher versus the yen, ending the week near Y77.70. Early gains took the buck to CHF .9329 versus the Swiss franc, its highest since March. In economic news, German import prices rose at a slightly slower pace of 6.8 percent year-on-year in October, the Federal Statistical Office said Friday. The annual increase follows September's 6.9 percent rate. Economists were expecting the annual rate to remain at 6.9 percent. There was no first-tier economic news from the U.S., with markets closing early following yesterday's Turkey Day break. i hope this news could help us for the next week
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Consensus Economics: seasonal effect on euro Consensus Economics, a macroeconomic survey firm, notes the demand for the single currency tends to pick up in December. It happens because portfolio managers buy euro as the riskier asset trying to get more profit to make their holdings look better ahead of the year-end. According to the data processed by the company, the European currency usually gains about 0.4% and US dollar retains its value, while Canadian dollar and British pound weaken. Strategists at BMO Capital Markets, however, underline that the euro zone’s debt crisis may change the situation and doubt that in the current circumstances euro will be able to get a lift from the seasonal effect. Some experts say that taking into account everything mentioned above, the market’s pressure on the ECB to ease policy will play the role of euro's rate determinant.
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Commerzbank: comments on AUD/USD Technical analysts at Commerzbank note that Australian dollar breached yesterday support versus its US counterpart in the $0.9929/10 area (August minimum, Fibonacci level). The specialists expect AUD/USD to fall to $0.9688 (78.6% Fibonacci retracement) and plan to take profit at this point. If the bears keep pulling the market, the next downside target will lie at $0.9388 (October 4 minimum). According to the bank, resistance levels are situated at $1.0127 (resistance line), $1.0340 (November 14 maximum) and $1.0445.
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J.P.Morgan: comments on GBP/USD The Bank of England’s November meeting minutes are released on Wednesday, November 23 at 9:30 a.m. GMT. Analysts at J.P. Morgan believe that British Monetary Policy Committee will sound extremely dovish. The specialists also think that US Congressional deficit supercommittee won’t come up with the debt reduction steps. As a result, the market’s risk aversion, in their view, will remain very strong. Negative risk sentiment, in its turn, will make sterling decline versus the greenback. According to the bank, it’s necessary to sell GBP/USD in the $1.5785 zone stopping above $1.6000 and expecting the pair to drop to $1.5385.
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U.S economic growth remains below par and inflation should moderate over coming months - NY Fed's Pres William Dudley. "Growth has picked up modestly in the second half of 2011, but not enough to bring unemployment down," he said.
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Capital Economics: the BoE will increase QE Economists at UBS give 3 reasons to be concerned about Spain’s economic prospects: firstly, the high possibility that the country misses its deficit-reduction target, secondly, the risk of Spain’s falling into recession the next year and, thirdly, the precarious position of Spanish banks which will likely need more state money. Spanish Finance Ministry announced that the nation’s GDP will add 0.8% in 2011 failing to meet the 1.3% growth target. Spain’s economy stagnated in the third quarter. The country’s jobless rate is close to 23%. It’s too early to make predictions whether the deficit goal of 6% of GDP will be attained this year as the regions’ third-quarter budget data aren’t available yet. In 2010 Spain’s shortfall was equal to 9.3% of GDP. Spain faces general elections on Sunday, November 20. The ruling Socialist Party is likely to lose to the opposition People’s Party which pledges to meet the deficit goal of 4.4% of GDP in 2012. The 10-year Spanish bond yield rose to 6.4% for the first time since August. The specialists warn that the market’s rather optimistic attitude to Spain in comparison with Italy may change in the coming months or even weeks.
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Current Valuation Measures Suggest Jpy may Weaken Substantially A sustained depreciation of the JPY would require a change in the policy mix in favour of significant expansion of monetary easing and fiscal tightening. Until this happens, the JPY should remain strong. However, when it does happen, current valuation measures suggest the JPY may weaken substantially. OECD PPP currently puts the JPY overvalued against the USD and EUR by 30.57% and 23.42% relative to 'fair value' levels of 111.00 and 137.21, respectively.
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In late Asian deals on Wednesday, the Australian dollar recouped its early losses against the New Zealand dollar. The aussie-kiwi pair is now worth 1.3200, up from 1.3151 hit at 9:45 pm ET.
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FBS Master Card Club Promotion - Promotions - FBS Dear clients! We do know you take decisions rapidly, easily adapt to constantly changing environment and value your time. We here at FBS have done our best to simplify the payment solutions for you and make your FBS MasterCard receipt faster and easier. If you deposit your account to 500 or more USD you can instantly join FBS MasterCard Club and get a free FBS MasterCard! FBS MasterCard advantages include: • Instant deposit and withdrawal • An easy way to buy online, pay for online services • Easy use of ATMs to cash out your funds • Low commissions How to get a FBS MasterCard? To get a FBS MasterCard please login to your Personal Area and visit this link: https://my.fbs.com/withdrawals/fbsmastercard/help. You will be redirected to Payoneer website and offered to submit a card registration form. Please make sure to input correct data. Please note that the card issuance is worth 20 USD, which will be deducted from your trading account during the registration. After the form is submitted you will be returned back to your FBS Personal Area. Deposit your account to 500 or more USD and you will get your FBS MasterCard for free! https://my.fbs.com/withdrawals/fbsmastercard/help
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Forum for traders or we called FFT by FBS Hodlings inc its not paying anymore. the promotion is over. actualy FFT its very help us to get a capital in forex. may be FBS will giving another promotion
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11.11.11 – happy winner’s date 11 Nov 2011, 16:37 Dear traders! We are happy to announce the winner of “Green Drive”. The happy contestant is a trader from the Russian Federation, trading account number 77442. FBS team cordially congratulates the happy winner of “Green Drive” who doesn’t have the faintest idea what a surprise awaits him: instead of the planned Honda Insight Hybrid he receives… Audi A4! Yes, FBS has decided to present a more expensive and luxurious car as it fully corresponds to the company’s slogan: Finance. Freedom. Success. Video interview with the winner sharing his impressions and secrets of successful trading will be available on our website in the end of November. Keep updated. Trade with FBS and be successful!
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Today the market’s attention is focused on the budget vote in Italy. The nation’s Prime Minister Silvio Berlusconi is under pressure to step down, so the vote will show whether the premier still has a majority in the 630-seat Chamber of Deputies. Next week Berlusconi plans to hold the confidence vote a on implementation of measures pledged to the European Union that are designed to promote Italian economic growth and reduce its huge debt. Analysts at Westpac Banking claim that it seems that the market will be satisfied only if Berlusconi resigns and technocratic government is formed. The specialists say that when it happens, risk sentiment increases and the euro increases. In their view, one should use the advance of EUR/USD to sell the single currency as the relief for euro won’t last long. Analysts at Societe Generale are worried about high Italian borrowing costs as the 6.5% yields would be soon unbearable for the country with only 1.8% nominal GDP growth and the debt accounting for 120% of GDP. Another thing to watch will be the nation’s auction of fixed-rate bonds on November 14 that may cause euro’s sell-off if the borrowing costs increase once again.
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Pound Strengthens Against Most Majors U.K.'s sterling traded higher against its major rivals in early deals on Monday as lingering debt concerns in Europe boosted demand for the pound-denominated assets. Greek Prime Minister George Papandreou has agreed to step down and his administration be replaced by a new national unity government until a new government emerges from early elections scheduled to be held on February 19, it was announced late Sunday. The deal was reached during a meeting between Papandreou, and opposition leader Antonis Samaras in the presence of President Karolos Papoulias on Sunday evening. The meeting followed a week of political turmoil over the country's debt crisis. With the Greek crisis settling down, the focus now shifts to Italy, where the borrowing costs have risen sharply, as capital is being pulled out of the country on the perceived risk of a potential default. U.K. house prices increased at a faster than expected pace in October, data released by the Lloyds Banking Group's Halifax division showed today. House prices increased by 1.2 percent month-on-month in October, while economists were looking for a 0.1 percent rise. There have been five monthly rises, four falls and one month of no change this year, suggesting a highly mixed pattern. House prices in the three months to October were 0.3 percent lower than in the preceding three months. The pound touched a 6-day high of 0.8561 against the euro around 5:10 am ET and the pair moved mostly in a range of 0.8590 and 0.8563. On the upside, a rise above its November 1st high of 0.8550 could set sterling's peak in nearly 5-weeks. Eurozone retail sales decreased 0.7 percent on a monthly basis in September, reversing the 0.1 percent rise seen in August. Economists were expecting sales to be flat month-on-month. Year-on-year, retail sales decreased 1.5 percent in September, faster than the 0.1 percent drop seen in the previous month. Economists had called for a 0.3 percent annual fall. Meanwhile, Germany's industrial production declined 2.7 percent month-on-month in September, bigger than the 0.9 percent fall forecast by economists and 0.4 percent drop seen in August. On an unadjusted basis, production was up 5.5 percent annually, but sharply down from August's 11.3 percent growth. The pound that advanced to more than a 5-1/2 month high of 1.4457 against the Swiss franc around 4:35 am ET erased some of its gains shortly thereafter. The pair thus snapped back after having tested its 50.0 percent of the Fibonacci retracement level in the 4-hour chart. On the upside, the pound may find resistance around the 1.4550 level. The franc weakened in the morning after the Swiss National Bank President Philipp Hildebrand hinted on Sunday that the central bank is ready to take additional measures if the currency appreciates further. In an interview to NZZ am Sonntag newspaper, he said that the bank expects franc to weaken over the time. If this is not the case, it could lead to deflationary tendencies and heavily weigh on the country's economic prospects. Meanwhile, Swiss consumer prices declined unexpectedly to 0.1 on monthly and yearly basis, following a 0.5 percent and 0.3 percent growth rates, respectively in the previous month. Economists were looking for a 0.2 percent growth on month and year. At the same time, Switzerland's unemployment rate came in at seasonally adjusted 3 percent, in line with economists' forecast. On an unadjusted basis, it rose to 2.9 percent from 2.8 percent in September. The pound also rose to a 6-day high of 1.6081 against the US dollar and a session's peak of 125.51 in early deals Monday. The pound is presently worth 1.6061 against the greenback and 125.37 against the yen with 1.6170 and 126.90, respectively seen as the next likely upside target levels. Japan's preliminary leading index, that indicates changes in the direction of the economy for the months ahead, fell to 91.6 from 93.8 a month ago. Economists had expected the gauge to drop to 91.9. Likewise, the coincident index dipped to 88.9 from 90.3 in August. The index stayed below the consensus forecast of 89. Looking ahead, the U.S. Federal Reserve is expected to release its monthly consumer credit report at 3:00 pm ET. Consumer credit for September is expected to show an increase of $5 billion after the outstanding consumer credit declined by 4.6 percent in the previous week.
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ECB lowered the benchmark rate The European Central Bank decided to cut its benchmark interest rate at President Mario Draghi's first policy meeting in charge by 25 basis points to 1.25% after it had twice increased it – in April and July. Such move was unexpected by the majority of the economists as inflation in the euro area showed the reading of 3.0% in October for the second month in a row, while the central bank’s target lies just below 2%. According to Dragi, the main reason for the cut is the deterioration of the euro zone’s economic data. The ECB President underlined that growth slowdown will cool inflation perspectives. In his view, at the end of the year the monetary union will face mild recession. Currency strategists at Bank of Tokyo Mitsubishi UFJ think that ECB’s decision to ease its monetary policy will increase the pressure on the single currency and the demand for euro will keep declining. In their view, European borrowing costs will be lowered to 1% during the next few months. The pair EUR/USD traded today in quite volatile manner: by the middle of the day it reached high at $1.3834 and then returned to the day’s minimum in the $1.3660 area before another bounce to the day’s maximums.
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Greece’s membership in euro area depends on referendum results The Greek dilemma is finally put point-blank: German Chancellor Angela Merkel said that Greece’s referendum on a bailout deal will determine whether it will stay in the euro area. French President Nicolas Sarkozy claimed that the indebted nation will receive any financing only if it holds to the terms of a rescue agreement designed last week. This is the first time when European leaders raised the prospect of the euro zone splintering. The vote is scheduled on December 4 or 5. Greek Prime Minister George Papandreou who has initiated the referendum thinks that there’s the necessity of “wider consensus” for the bailout terms expressing confidence that his nation will remain the member of the monetary union. Greek Finance Minister Evangelos Venizelos, on the other hand, argues that such question can’t be submitted to referendum. The results of the polls show that although the majority of Greeks are against the austerity measures imposed on them by the bailout package they don’t want their country to leave the currency bloc. It’s also necessary to note that the next 8-billion-euro tranche of the first bailout package will be delayed until the referendum results are announced.
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US Dollar Reverses Asian Session Uptrend Against Canadian Dollar The US dollar that tested yesterday's 13-day peak against the Canadian dollar in early Thursday Asian deals pared gains in early European deals Thursday. The greenback-loonie pair is presently worth 1.0130, down from Asian session high of 1.0218.
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The Australian dollar appreciated almost 1 percent to reach a 4-day high of 1.3202 against the euro around 10:45 am ET Monday from Asian session's 4-day low of 1.3328. The aussie is presently trading at 1.3210 versus the single currency and a move above its October 27th high of 1.3186 could set its highest level since September 13.
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Canadian Dollar Strengthens To 4-day High Against Euro The Canadian dollar has been gaining against the euro in early deals on Monday. The loonie is now trading at a 4-day high of 1.3997 per euro with 1.394 seen as the next upside target level. The euro-loonie pair ended yesterday's trading at 1.4053.
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Dear traders, FBS with Proud to announce the opening of Learning and Support office in Jakarta. Opening new office is intended to improve service quality FBS in Indonesia, increasing the level of credibility and Response (Response) We to customers. FBS managers can help the trader to register a Demo Account, Forex international experts will teach and answer all question of all about the Forex Trader. In the near future about the Forex and training seminars will be held for the Traders Office SUPPORT & Education Center FBS INDONESIA SKYLINE BUILDING 19TH Floor, Sakura Suites Jl. M.H. Thanrin Kav.9 Jakarta 10340, Indonesia Telepon: +62-21-3430.6161 +62-21-3430.6262 +62-21-3430.6363 Faks: +62-21-3905141 We pleasure for anyone who wants to learn how to trade on the Forex Market (foreign exchange) we invite to come and learn.
