Forex rebates on every trade - win or lose!

sue trade what you see, not what you think

Good cable call goforit, we're at 50% retracement now, seems that it will hold if markets can rally from this dow 7850 support level,though not looking likely at the moment

Euros not happy
http://www.telegraph.co.uk/finance/economics/4603903/European-finance-ministers-to-attack-Alistair-Darling-over-sterlings-slide.html

F cables at the 1.4450 area!

Well I know a man who's managed to set up the signals service malarky for me and it's currently trading the signals from 2 EA's. At the moment my system is simply interfacing with the service provider's system and, in a week or so's time, I will be able to ask the service provider to open the signals up for subscription.

I do hope they make money in that time otherwise I'm going to look a silly Hilly.

h, you can always change yer name to imelda!

Hilly
Have you set up a website

My son is in charge of website design, Jeffie. That's his half-term project for next week.

ROME (Dow Jones)--Top European Central Bank officials Saturday said they stand ready to act further to counter the recession, signaling further rate cuts and refusing to rule out unconventional measures like quantitative easing.

"As you know I have said in the last press conference that I do not exclude additional, non-standard action," European Central Bank President Jean-Claude Trichet said, reiterating that the ECB remains open to the possibility of quantitative easing.

With its key rate close to zero, the U.S. Federal Reserve has already taken moves to lift its economy out of recession by taking unconventional moves to boost money supply. The ECB has more ammunition left to cut its benchmark rate, which stands at 2%, but some analysts believe it may be eventually be forced to follow the U.S to increase the flow of money to the economy.

Bank of Italy Governor Mario Draghi said the U.S. quantitative easing had worked, but declined to say whether Europe would take similar moves. He said the ECB had already taken unconventional measures and implemented interest rate cuts "in size and speed that we haven't seen before."

The ECB has more than halved its key interest rate since early October, cutting it by 225 basis points to 2%. Most economists expect the ECB to cut rates again in March, to 1.5%. ECB staff will present their latest macroeconomic projections, showing a sharp contraction in euro-zone gross domestic product in 2009.

"There's a lot of reflection on other stuff (apart from interest rate cuts) that we didn't discuss at this meeting," Draghi said at the end of a two-day meeting of finance minister and central bankers from the Group of Seven leading economies.

The G7 as a whole warned that what started as financial turmoil has now gripped the real economy throughout the world, and committed to take any action that may be needed to restore full confidence in the global financial system.

European Central Bank governing council member Axel Weber said he wouldn't rule out the possibility that the bank will cut its key interest rate again.

The U.S. Federal Reserve has opted for a virtual zero interest rate policy while the Bank of England's key lending rate stands at 1%.

"We don't rule out that in the light of the current forecasts for (consumer) price development, for the economic development we will continue to make use of further leeways that are opening up," Weber said.

The 16-country euro zone for which the ECB sets rates plunged deeper into recession in the fourth quarter of last year with its sharpest contraction in gross domestic product since records began in 1995. The decline was led by the biggest quarterly fall in German GDP for more than two decades.

Still, Weber said that there is hope the economy will recover later in 2009.

"There are first signs of hope which we have discussed," Weber said. "The leading indicators in particular give reason to hope that a certain degree of bottoming out might possibly appear in the second half of the year. But there is the need to be cautious...The outlook for the coming months is still cloudy in our view."

The French board member of the ECB, Christian Noyer, was the more cautious on using unconventional measures, however.

Noyer said that so far it isn't necessary for the Frankfurt-based bank to purchase commercial paper in the same way as the U.S. Federal Reserve does to increase the amount of cash available to companies.

"We're not changing the structure of financing now," Noyer said. He noted that because European companies are more dependent on financing from banks than their U.S. competitors, restoring a fluid and functioning credit market was the top priority.

ROME (Dow Jones)--The Group of Seven leading developed economies Saturday said they are committed to avoiding protectionist measures, and will also try to ensure that the actions they take to combat the recession don't harm other economies.

In a statement released at the end of their two-day meeting here, finance ministers and central bankers from the G7 also welcomed China's commitment to move to a more flexible exchange rate, and said that should lead to a further appreciation of the yuan.

Canada, France, Germany, Italy, Japan, the U.K. and the U.S. are members of the G7.

"The G7 commit to take any further action that may prove necessary to reestablish full confidence in the global financial system," the statement said. "We will continue to work together and to cooperate to avoid undesirable spillover and distortions."

G7 finance officials said they won't resort to protectionist measures, and will work to complete the Doha round of talks to further free world trade.

"The G7 remains committed to avoiding protectionist measures, which would only exacerbate the downturn, to refraining from raising new barriers and to working towards a quick and ambitious conclusion of the Doha Round," the draft said.

The comments come as some countries, including Germany, have expressed concern about protectionist tendencies following a "Buy American" provision in the U.S. government's $787 billion economic stimulus package that requires that purchases for infrastructure spending come from the U.S.. The French government's plan to lend auto makers EUR6 billion in exchange for a pledge not to cut jobs has also raised concerns about a slide towards economic nationalism.

The G7 had encouraging words for China, welcoming its contributions to combating the global economic slowdown.

"We also welcome and appreciate the prompt macroeconomic response from others throughout the world," the statement said. "In particular, we welcome China's fiscal measures and continued commitment to move to a more flexible exchange rate, which should lead to a continued appreciation of the Renminbi in effective terms and help promote more balanced growth in China and in the world economy."

The G7 agreed a set of principles that should apply to their fiscal policy initiatives. Finance ministers said stimulus packages should be "frontloaded and quickly executed."

They also agreed that they should include "an appropriate mix" of higher spending and tax cuts to boost domestic demand and job creation.

Measures should also "address structural weaknesses" in each economy so as to boost long-term growth.

But fiscal stimulus measures must also "be consistent with medium-term fiscal sustainability and mostly rely on temporary measures," G7 officials agreed.

The G7 repeated its long-held views on foreign exchange markets.

"We reaffirm our shared interest in a strong and stable international financial system," the statement said. "Excess volatility and disorderly movements in exchange rates have adverse implications for economic growth and financial stability. We continue to monitor exchange rates closely and cooperate as appropriate."

No other currency was explicitly cited in the communique, which said that the meeting had taken place "amid an ongoing and severe global economic downturn and financial turmoil."

G7 members said they view the stabilization of the world economy and the global financial system as their top priority, and that they will work together, using a full range of policy tools, to reach that goal.

G7 members will also said that they are committed to taking further action to restore confidence, but that their response to the global financial crisis has been prompt and vigorous and its effect will build over time.

The G7 said urgent reform of the global financial system is needed to correct fundamental weaknesses that have been highlighted by the current crisis.

"We agree that a reformed IMF (International Monetary Fund), endowed with additional resources, is crucial to respond effectively and flexibly to the current crisis," the draft said.

The G7 also stressed the need "to support emerging and developing countries access to credit and trade financing, resume private capital flows" and added that it's committed to "explore urgently" ways to improve this support, such as through multilateral development banks.

The ministers and central bankers welcomed a $100 billion loan to the IMF from the Japanese government that was signed here Friday.

The IMF which seeks to double its funds to $500 billion amid the current crisis in which several countries have called on the IMF to provide bailout packages.

So far, $50 billion of the IMF's current $250 billion fund has been used up.

In addition, the G7 said that "increased collaboration between the IMF and the expanded Financial Stability Forum will be particularly important to develop a timely and reliable assessment of macro-financial risks."

The group also aims to accelerate reforms of the regulatory framework including scope of regulation procyclicality, compensation practices, market integrity and risk management, according to the draft.

Hilly
Did you get my begging letter

I did, Jeffie, but I've had a busy day and haven't been able to reply yet.

No probs, I know your spam filter is a bit agressive and I didnt want to end up with the mails for penis enlargements and Viagra

I've just had an idea for a job lot of candles.

:o)

Waxing lyrical:)

Cable 1.43 is becoming a bit of a big issue.

? Major resistance?

looks like it this week

This is from the ODL website. Are all brokers doing the same or only ODL. Is there lack of liquidity in the forex market?

Spreads Temporarily Widened

Under the current market conditions, we unfortunately have had to widen the quoted spreads on a number of currency pairs that we offer.

We hope to return to normal service as soon as liquidity returns to the Forex Market

jeff, is that new? think that happened at xmas time as well with them