Forex rebates on every trade - win or lose!

Presumably Spencer Dale will be a dove????

edit: No. It appears he's a hawk, moulded from King.

I doubt it will appear on any Economic Calendars for this week, but there's an important decision looming from a High Court judge which might affect the Euro significantly.

Stuart Wheeler (of IG Index fame) has taken the government to court over their decision not to hold a referendum on ratification of the Lisbon Treaty. The judge has told the government to hold fire until he delivers his verdict this week.

I don't understand the legalities of Wheeler's argument, but if the judge should rule in his favour ......................

09:44 GMT, Jun 25 2008 | Posted by Mark Mitchell from London
The Fed face a tricky dilemma tonight

Everyone and anyone has an opinion on what the Fed will do and more importantly say tonight at the conclusion of the FOMC meeting, so I thought I'd hazard a guess too. I think it is telling that the day before the blackout period for this meeeting we had the various Fed sources articles coming out saying that the market had gotten ahead of itself in its expectation for interest rate hikes. These articles have certainly dampened the rate hike ardour of the markets, but haven't completely removed them from the table. What the Fed needs to do tonight, is to convince markets that it is serious about inflation, while showing that it is not yet ready to raise rates. A tricky task I grant you, but achievable if the Fed's statement puts more emphasis on inflation expectations and highlights the Fed's resolve to resist further increases in inflation, while continuing to stress the FOMC's opinion that inflation will moderate. On growth I feel they will stick to their tone of fears over the economy and the financial sector. After all this I would expect the Dollar to be little changed from where we are now, as once again we get back to analysing the economic numbers and seeing how the economy performs after the one off rebate check boost.

hi there, everyone on holiday? is anyone else having problems with the interactive calender, seems to have become invisible, same happened last night

It's OK here, Gofe.

If there's a problem, it's most likely DailyFX/FXCM as it's their calendar. Have you tried going to their site directly?

edit: I use Opera and keep a tab open permanently. http://www.dailyfx.com/calendar/

Isn't showing here either GFI.

Seymour,

Have you been able to open that indi, or is it still a problem?

OK at home Hils but that's not where I need it! Haven't tried on work machine as that has so much running and so little memory! Going to get more memory at work then try, so still running with the old ones there.

edit. the machine I'll be using today has 2Gb so will try that, but it runs my eye test chart as well, so don't want to mess that up!!

Seymour,

Just rattled a pm off to you. Let me know if you don't get it as I think those things have a habit of getting lost in cyberspace.

see gbp/usd up at the 840 area, when it was there latter part of may struggled to close above 845 on the hourly. intresting to see if it rolls over!

Sorry Hils, had a busy morning so haven't had a chance to look until now. Yes, I got it, will reply over the next few days, having a really busy time atm, not much time for trading :-(

I prepared this over the weekend to see which FX instruments have the widest daily trading range. Although I looked at every pair/cross, this is the top 12.



Gold is the only commodity that I looked at and it easily tops the tree. Some stock indices also warrant a place in the list. For instance, the average UKX range is 104 points.

Most surprising was to see GBP/CHF in there. I'm not sure just how tradeable that would actually be.

edit: The screenshot was actually taken this morning, so the ranges are a little on the low side because they're weighed down by the Sunday evening/Monday morning action.

hilary, how longs the period that covers these averages?

Don't know I'm afraid, Gofe. I don't fully understand what the formula's doing when I look at it in the editor. I've just canibalised another indicator utilising my cut'n'paste skills.

If I were to hazard a guess, I'd say it's the average of the 1, 5, 10 and 20 day ranges.

thanks h, lost the calendar again. quite a good one at forex factory if anyones having similar probs.

does anyone know any good sites as regards information on indicators

The calendar's fine here, Gofe.

If you want information on indicators, I suggest you go here:

Chart School

Incidentally, if you use MT4 it's quite easy to find a couple of indicators which will put the Forex Factory calendar into your chart in different guises. I don't use them myself because they would take up too much of my window and I trade the chart not the news anyway. Other people seem to like them though.

News Reader

Calendar Indicator

We don't need to be told again Jean Claude

Just in case there is anyone left out there not expecting an ECB rate hike tomorrow, Jean Claude Trichet has spelled it out in nice simple language that even a FX trader would understand. He is on the wires as saying that if the ECB is decisive then we can master the situation, but if the ECB is not resolute, there is a risk inflation will explode. Eur/Usd is testing some light support at 1.5800, which if broken could trigger some light stops.

What Jean Claude does not seem to grasp is that the eurodollar is a key driver of oil prices which is the main driver of inflation. If the idiot cut interest rates he may well find a drop in oil and inflation and prevent a rebellion amongst member states screaming for a cut imho

I'm not too sure that I would agree that the Eurodollar is a driver of oil prices, Falcothou.

Surely it's the Tiddleywinks and the Indians who are driving oil prices up coupled with the current political instability in the Middle East. This in turns weakens the Dollar because the Yanks are major oil importers (Driving Season is just around the corner). If the Eurodollar happens to benefit from the weak Dollar, then surely that is just a secondary benefit (also bought about by the positive carry).

And if JCT were to cut interest rates (which he won't), then it might appease the Micks'n'Spics who are currently suffering, but overall it will only serve to fuel inflation further.