Forex rebates on every trade - win or lose!

Tw: Download the saxobank software and they have an analysis on the forex which is for evermorning and updated for the afternoon.You can also get it as email.They seem to be quite good and also give suggestions for going long and short -also when to stand aside. I have been looking at them for a while and traded them and can honestly say that they have paid off for me.

rgds
zarif

will take a look but these currencies are mean....they can be even worse then the dow! :-)

Thing about the low $ is that it makes it easier for the USA to export. That means more growth in the US which is the economic engine of the planet. Feeds back on itself doesn't it. And then the oil price works the same way. This all smacks of the G8 (or what ever they are now) agreeing on the week dollar until the world economy is back on track. Forex is on my list for this year and the safest route at the moment (for trend) is an increasing drop in the value of the dollar and the counter-balance of increasing gold price (in dollars ain't it).

Nice thread Hil - didn't know you had the HTML in your skill box as well as "those legs" ;-)

BOJ SUSPECTED TO HAVE INTERVENED IN FOREX TRADING - JIJI

Paul,

You can use Sharescope to examine a currency and overlay a share or index. Personally, I can't see the merits of pairs trading an index -v- a currency, but wdik?

Treble,

Sorry to hear about your losses. The bulk of the price action has been away from the EUR/GBP recently which looks to be consolidating. There are still some nice trends to latch onto with the other currencies though. Personally, I wouldn't trade against the trend but, again, wdik?

BT,

Legs and html .... what more could you want in a girl?

To follow on from US exports being helped by the weak dollar, the reverse is true of the Yen. The low Japanese interest rates are stimulating domestic growth on one side of the coin, but unless the Japanese exporters are hedging on the FX markets, weaker exports will stifle profits which could in turn adversely affect the NIK. There has been a theory recently that the Bush administration has been leaning on the BoJ to hold off from buying the Dollar until the New Year to enable US exporters to report earnings growth, thereby boosting the Dow ahead of Presidential elections.

for her to phone ?

Options Expire in the next hour on Euro$ according to Bloom. Battle going on to get it over 1.28... could be volitile, as vol picking up...

Trying again......

Hi - Does anyone use CMC for /$ spot?

If so I need some help.

I am confused by the order screen.

If I want to say buy $ - do I enter sell say 1,000?

Sorry if this is too low brow! It's got me baffled.

I have used CMC for /$ spot. If you think the $ is going to increase in value then you sell /$ for however much pounds per pip. 100 pips per Cent. One thing to bear in mind is volatility which can move this currency pair 100pips plus every day in both directions!. So if you use stops you need to give them a wide berth! Be careful and good luck!!

richesboy - thanks - I tried - but my account is not authorised (a CFD a/c) I'll have to ring them.

I guess the CFD a/c must be set up somewhat differently to SB a/c which I have!

Sue. The order screens always have the buy/sell relating to the first currency quoted. But it can be confusing - for instance IG Index have Euro/Sterling to bet - ie 0.7000, but their chart shows /Euro - ie 1.42. It's to do with the fact that the and Irish Punt are traditionally quoted first worldwide, no matter what thay are being quoted against (I think that's the right way round). No doubt someone will correct me if I'm wrong.

SINGAPORE (AFX-ASIA) - The US dollar was rangebound against the yen and
weaker against the euro, which stayed above the 1.27 level after hitting fresh
highs, dealers said.
BNP Paribas Peregrine Securities currency analyst Thio Chin Loo said the
weakness trend for the dollar remains intact but the greenback is finding some
temporary support near the 106 yen level.

Singapore 3.00 pm Tokyo 12.20 pm
Dollar
yen 106.23 down from 106.32
sfr 1.2334 up from 1.2330
Euro
usd 1.2724 up from 1.2706
stg 0.6984 down from 0.6988
yen 135.11 up from 135.09
sfr 1.5691 up from 1.5667
Sterling
usd 1.8211 up from 1.8182
yen 193.36 up from 193.31
sfr 2.2456 up from 2.2418
Australian dollar
usd 0.7685 up from 0.7671
stg 0.4217 down from 0.4219
yen 81.590 up from 81.558

DAILY MARKET COMMENTARY
6 January 2004
Tuesday

North American Comment at 1500 GMT

_____________________________________________________________________
GCI Foreign Exchange Research: http://www.gcitrading.com/fxnews/
FX Research Desk: fxnews@gcitrading.com
_____________________________________________________________________



Fundamental Outlook at 1500 GMT (EDT + 0500)



The euro added insult to the dollars injuries today as traders drove the single currency to the US$ 1.2815 level before the pair consolidated some gains around the $1.2770 level. Stops were reached above the $1.2750 level and traders bought euros on dips. There is increasing speculation the ECB is ready to conduct euro-selling intervention as the single currency inches closer to psychologically-important 130.00 figure. Belgian finance minister Reynders today said the euros current level is relatively reasonable while the French budget ministry said brutal FX moves are bad for everyone. There continues to be increasing verbal intervention across the eurozone about the euros strong moves. Data released in the eurozone today saw an improvement in Germanys December services PMI index while France and Italy both saw a m/m decline in their service PMI indices. All three countries, however, had readings above the boom-or-bust 50.0 level, an indication of sectoral expansion. Overall, EMU-12 services PMI fell to 56.6 in December from 57.5 in November. Also, final Q3 French GDP was confirmed at +0.4% q/q. One reason for the euros gains today was a report that U.S. factory orders fell 1.4% in November. Traders are eagerly awaiting holiday spending data from the U.S. to see if the U.S. consumers continued to be the lynchpins of the U.S. economy. Atlanta Fed President Guynn spoke yesterday and said it will be appropriate to shift monetary policy back to a longer-term setting at some point but added interest rates are appropriate for now. Euro bids are cited around the $1.2700 figure with additional demand around the $1.2650 level.





The yen gained some additional ground vis-vis the U.S. dollar today as the greenback tested bids around the 106.05 level and was unable to move above the 106.45 level. Dealers again reported demand from BoJ agent banks and this was cited as the reason why the pair spike from the 106.10 level to the 106.40 level during early Australasian dealing. It is estimated that up to US$ 3 billion was spent by the Japanese to temporarily prop up the dollar today. There was renewed jawboning from Japanese officials overnight with finance minister Tanigaki pledging to counter rapid, speculative forex moves. His comments were seconded by verbal intervention from MoFs Mizoguchi. Dealers cited talk that a large Asian participant bought US$ 1 billion in 100.00 three-month dollar puts with a one-month knockout at 105.00. It was announced that PM Koizumi will meet with Japanese and foreign nationals on 14 January to discuss economic issues. Japan Business Federation head Okuda said an exchange rate of 105.00 would be critical for Japanese exporters. The Nikkei 225 stock index lost ground today, falling for the first time in four trading sessions. Dealers cite stops around the 105.80 level with option barriers cited around the 105.50 and 107.00 levels. The euro made major moves vis-vis the yen today as the single currency tested offers around the 136.05 level. Euro bids are cited around the 135.00 and 134.50 levels.





Technical Outlook at 1330 GMT (EDT + 0500)

(Bid Price) (Todays Intraday Range) (Previous High, Low, Close)

EUR/ USD 1.2765 1.2813, 1.2667 1.2697, 1.2584, 1.2675
USD/ JPY 106.14 106.44, 106.05 107.38, 106.00, 106.20
GBP/ USD 1.8243 1.8288, 1.8048 1.8105, 1.7971, 1.8068
USD/ CHF 1.2282 1.2345, 1.2241 1.2395, 1.2282, 1.2319
AUD/ USD 0.7704 0.7729, 0.7657 0.7693, 0.7636, 0.7679
USD/CAD 1.2837 1.2869, 1.2764 1.2893, 1.2773, 1.2818
NZD/ USD 0.6729 0.6748, 0.6681 0.6733, 0.6587, 0.6706
EUR/ JPY 135.55 136.05, 134.49 135.75, 134.30, 134.61
EUR/ GBP 0.6997 0.7024, 0.6987 0.7063, 0.7002, 0.7017
EUR/ CHF 1.5675 1.5706, 1.5613 1.5644, 1.5609, 1.5633
GBP/ JPY 193.71 194.10, 191.62 192.72, 190.98, 191.85
CHF/ JPY 86.46 86.73, 86.06 87.06, 85.87, 86.18





Support Resistance Support Resistance

EUR/ USD USD/ JPY

L1. 1.2400 1.2660 106.75 110.60
L2. 1.2325 1.2730 106.00 111.20
L3. 1.2225 1.2790 105.00 112.00



GBP/ USD USD/ CHF

L1. 1.7400 1.7775 1.2350 1.3200
L2. 1.7330 1.7825 1.2270 1.3300
L3. 1.7250 1.7900 1.2200 1.3400



AUD/ USD USD/ CAD

L1. 0.7000 0.7580 1.2900 1.3500
L2. 0.6960 0.7650 1.2830 1.3575
L3. 0.6910 0.7725 1.2770 1.3660



NZD/ USD EUR/ JPY

L1. 0.6350 0.6580 130.40 135.75
L2. 0.6300 0.6620 129.90 136.50
L3. 0.6250 0.6670 129.25 137.30



EUR/ GBP EUR/ CHF

L1. 0.6800 0.7170 1.5450 1.5750
L2. 0.6750 0.7250 1.5410 1.5800
L3. 0.6700 0.7310 1.5370 1.5860



GBP/ JPY CHF/ JPY

L1. 185.50 192.30 78.90 87.00
L2. 185.00 193.00 78.30 87.60
L3. 184.00 194.00 77.25 88.25

Looks like the Dollar bears closing this am.

Hi there!

May seem a silly question but does nuybody actively deal FX? What brokers do you use? Margin requirements? Spreads? etc.

I have an Etrade CFD account, does anybody deal FX with Etrade?

Just saw Bloomberg, Euro going to 1.35-45, big swings likely this year, seems a good time to fill yer boots!!!!

Grateful for any comments, stories etc.

Stephen

i seem to have a catch 22 with my CMC a/c. I can't deal in Fx til I have an account enabled, & I can't enable my a/c till I can demonstrate experience!!!

I can open a s/b a/c though!

Which s/b accounts does anyone use for Fx?

Sue42: I use igindex atm. I think cityindex and capitalspreads do fx aswell.
rgds
zarif