Dollar Grows as Hurricane Gustav Weakens | ForexGen News

The U.S. dollar rose today to its new maximum level in almost seven months against the euro as the crude oil prices declined after it became obvious that the hurricane Gustav won’t be causing significant damage to the American oil industry.

The dollar also advanced to the highest position against the Great Britain pound in more than two years today as it rallied on the Forex market. The Australian dollar fell to the lowest level since September 2007 against its U.S. counterpart.

Currency analysts note an elevated dollar optimism among the Forex traders despite the early forecasts that the current USD rally can’t sustain itself and will succumb to the weak economic reports from the United States.

It is possible for the EUR/USD currency pair to decline to its technical resistance level near 1.4400. Breaking this resistance will trigger many stop-loss orders, pushing the dollar up. Some investment banks have already raised their end-of-the-year forecast for the dollar versus the other currencies.

EUR/USD dropped from 1.4587 to 1.4492 as of 12:28 GMT today — it’s the fourth day of decline for this currency pair. GBP/USD falls for the six days; today it went down from 1.7994 to 1.7830. USD/JPY rose a little today — it went up from 108.16 to 108.85.

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Yen Gains This Week on Global Stock Decline | ForexGen News

The Japanese yen showed a record fast growth against the major currencies this week as the stock markets declined worldwide and investors favored the low-risk assets in Japan, spurring the currency conversion process.

Japanese currencies grew on the speculation that the weak economic indicators in U.S. and the crisis of the financial institutions may cause a global recession. Both Australian and New Zealand dollars (famous for their carry trade value) touched 2-year minimum levels this week.

Despite the extremely low interest rate associated with it, the Japanese yen performs well on the Forex market during the last few months. Trader’s panic currently overweights the usual profit-seeking behavior.

USD/JPY currency pair declined from 108.31 down to 107.74 after touching 105.52 this week. EUR/JPY reached its one-year lowest value this week at 150.59; it lost 3.5% going down from 159.25 to 153.67 — the largest drop since August 2007. GBP/JPY fell from 196.20 to 190.30 and touched 186.18 level — the lowest rate since December 2003.

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.

Pound May Fall 20% More before 2009 | ForexGen News

The Great Britain pound returned to its declining trend today even after the big positive opening gap this week. Analysts believe that this year may become the pound’s worst since 1992.

Traders bet that the British currency may continue its sharp decline this year and lose 20 percent more against the U.S. dollar. The pound has already lost 10 percent against the U.S. currency since January. Futures trades show the most bearish market sentiment since 1992, when George Soros broke the Bank of England.

Housing crisis in the U.K. surprises many investors by its scale. According to the Chancellor of the Exchequer Alistair Darling the United Kingdom economy is entering its worst slowdown since the World War 2. This is a strong and clear signal for the future Bank of England interest rate decisions.

The situation is worsened with the accelerated consumer inflation that reached 4.4 percent in July. BoE is prompted to cut rates as fast as possible, but the fear of the price growth prevented them from reducing the interest rate last week.

GBP/USD fell from 1.7872 to 1.7667 as of 13:36 GMT today; interestengly enough, it’s still above the last Friday close level. GBP/JPY opened at 194.77 today and is now trading near 191.18 — but still almost 100 pips above its last week close. EUR/GBP rose just a little today — from 0.8042 to 0.8054, trading just above its technical support line near 0.8016 level.

Throughout our partnership with the industrial leaders, we are capable of delivering incomparable quality of online currency trading service.
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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.

Chinese Yuan May Slowdown on Lower CPI | ForexGen News

The Chinese yuan traded almost unchanged in price against the U.S. dollar today after posting a significant gain yesterday on speculations that the central bank will reduce the currency’s appreciation rate as the inflation returns to its normal values.

Yuan is the best performing currency in the Asian region this year. It managed to gain 4.2 percent in the first quarter of 2008 and another 2.3 percent in second quarter. Meanwhile stronger yuan damaged the exporters’ competitiveness on the overseas markets.

China’s strong yuan policy was caused by the two major factors — record high domestic inflation and the pressure from the European Union and the United States to revalue the yuan in order to pare the world trade imbalance. As the CPI dropped to 4.9 percent annual rate in August (lowest rate since June 2007) the inflation factor became less critical and the yuan’s appreciation may significantly slowdown.

According the currency analysts, China’s government may now switch from the inflation to the rise in unemployment and export problems. As a consequence yuan may show no further growth this year. Although the currency is believed to be seriously undervalued, it’s very unlikely that the People’s Bank of China will continue strengthening the currency without some strong stimulus.

USD/CNY currency pair rose insignificantly from 6.8381 level yesterday to to about 6.83950 as of 9:50 GMT.

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Dollar Breaks Psychological Resistance | ForexGen

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The U.S. dollar continued to grow today for the fourth day against the euro on speculation that the problems are more serious for the European economy than for the United States, thus the rate differential may switch to the dollar’s favor.

The dollar broke down the significant support level of the EUR/USD currency pair at 1.4000. Market analysts await very disappointing reports on the manufacturing and GDP growth in the Europe, while they believe that the biggest problems of the U.S. economy connected with the ongoing global recession are already in the past.

Markets are very positive about the future of the U.S. dollar. Despite an extremely fast gain, a very large correction wave is very unlikely to occur soon. But some strategists predict a pullback to about 1.4200 level on EUR/USD if dollar stops now and goes flat for some time.

New Zealand dollar was another currency which lost significantly to the greenback today. Reserve Bank of New Zealand lowered the interest rate by 50 basis points to 7.50 percent, exceeding the traders’ expectations. It looks like more currencies are going to lose their interest rate advantage over the dollar.

EUR/USD declined from 1.3970 to 1.3918 as of 8:39 GMT today — that’s the record bottom level since September 18 last year. NZD/USD dropped from 0.6529 to 0.6449 — the lowest level since September 13, 2006. USD/JPY unlike other dollar-based currency pairs didn’t move in the favor of USD — it went down from 107.77 to 107.00 today.

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Learning Online Currency Trading From Professionals | ForexGen Tips

Many people are curious about currency trading and may want to talk to a few people about it before they make a big investment that they think they might be sorry for later. If they begin learning online currency training from professionals they will have a good start on knowing what they need to know to make money trading currency through the internet.

They might choose to talk to a day trader since they make their wages trading currencies everyday over the internet. A day trader is considered an authority on knowing all of the different types of currency that are available for trading and are considered one of the best sources to use to teach other people how to use various strategies to trade currencies.

Getting a thorough education on how to trade currencies is more difficult than some people think. There are some day traders who jump into currency trading with little or no experience and little to none preparation. The ultimate failure of their day trading opportunities provides clear evidence that supports the need for a rigorous training regimen. Learning to day trade from professionals will help keep investment dollars safe and help them to multiply significantly.

Some day trading professionals begin their careers by getting trained through online currency trading courses. Many of these courses are free for the asking and will help give day traders the opportunity to experience live trading practices in a training mode that does not put their investment dollars into jeopardy. These currency trading courses are a good way to learn about all aspects of day trading.

Through these courses, someone interested in online currency trading can learn all about the advantages of trading in currencies. After a brief introduction, the professionals will explain to the prospective day trader what the foreign currency exchange is and how it began. Having a solid background of foreign currency trading origins will give them a starting point to build their strategies on throughout the course.

While learning online currency trading from professionals, students in the course will learn all about the main currency markets and learn how to use the foreign currency markets to their best advantage. Some people trade only in the currency of their own country and never see the financial benefits that others do that invest their monies in multiple foreign currency exchanges.

When they have learned how to read currency charts and the terminology used in phone trading, then they will be able to trade currencies throughout the foreign currency trading course and learn how to make a profit. These simulated training courses are very beneficial to helping people become successful traders on the foreign currency exchange market.

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Let Us Not Forget the Pendulum Factor of the Foreign Currency Exchange | ForexGen Academy

Last year is gone and buried. Many have seen better years and are anxious to see what will develop now.

A big percentage of investors in the foreign currency exchange game will be focused on two runners only, namely the US dollar and the euro. Of course, there plenty of other runners to select from, but those two are bound to be in the spotlight.

While the pendulum might still have a little room to go against the dollar, it is getting uncomfortably near the point of return when it starts on the swing back journey.

It is now, that it would be prudent to find the best foreign currency exchange company to select from. Quite a number are available on the internet. Find out who gives the best currency rates and get acquainted so that you can be ready to spring into action as the time is coming when things will start popping.

One thing you must remember about the foreign currency exchange companies, they are only too happy to see you make right decisions. They are not there in the role of a guesser, but as a tool for getting you the best currency rates as quickly as possible. If they were not good at it they could not survive.

To know the exact point of the pendulum return, it is necessary to be a clairvoyant. There is no clairvoyant who can give results before the event takes place, because there would not be any bookmakers left. I can confidently report, that there are plenty of rich bookmakers in the world.

So it boils down to taking a calculated risk as to when the pendulum will swing back.
Before taking such a risk, especially in the foreign currency exchange, it is prudent to have some odds in your favour.

Granted that the pendulum might have a little room left to keep going against the dollar, but at this stage of the game it takes a bold person to purchase euros at such a high price even if there could still be some room left for a profit. On the other hand, the dollar is cheap and when it comes to life, not if, there will be room for substantial gain.

Since the odds favour the fact that a pendulum has to swing back sooner or later, the answer is plain to see. Of course it takes nerve and courage, but those are necessary ingredients which point to big money.

Incidentally, the pendulum swings also when it comes to the property market. Make sure you are ready and in touch with a realtor you feel happy with. There are many good ones who have fantastic properties on their books right now.

It is worth mentioning that an analysis as to how most millionaires have amassed their fortunes in the past, shows that property was always the main factor.

The formula we are all aware of says buy cheap and sell high. It does not say buy cheapest and sell highest because there is no way to really know the cheapest and highest points.

I would say the important thing is to make the decision when the time looks good enough to spot a winner, and go for it.

I remember a friend of mine who, in his prayers, used to ask God to guide him to a winner and also asked him to make sure for it to be a big priced one!

Greed can often spoil the best of chances.

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.