Forex rebates on every trade - win or lose!

They're getting all philosophical on the Hub today. Sadly it's the last day for what I consider to be the best website on the whole internet thingey.

Agreed Hil. I shall miss it - I hope they do something similar soon - lots of hints that they might.

Whats "The Hub"

ThomsonReuters FX Hub, Spacie. It's been the best kept secret out there.

thanks Hils, trust me to find out about it as it ends. In fact has it already gone? I cant access it at the mo.

Managed to get in now, what a shame i love the calendar, site si nice and simple and clear, so why are they closing?

How annoying, I closed this morning's cable short earlier and left 3 pips for the next man ;-)

edit and even more annoying, I should have reversed!

Re: The Hub.

ThompsonReuters are in massive post merger/takeover consolidation and cost-cutting mode. Many babies are going out with the bathwater. People I deal with are in fear of their jobs -- slash and burn is the order of the day. Expect no good judgement or even commonsense.

BTW, who's going to get post 10,000? It should be you, Hil . . .

It looks like it's me then. Well spotted, DelBoy.

:o)

Hi all.... 1:8600 area does looks like it might be a Cable reversal point....

10000 posts.... you might have to call this thread a success...
Well done Hils

good 2cu on the thread again foale, currently in uk, just ofto one of those nasty pubs that stays open till you go home!

Don't know if this has been mentioned elsewhere but there's an EWI Freeweek for Forex this week, including intraday:

www.elliottwave.com

NEW YORK (Dow Jones)--Global central banks that kept huge amounts of U.S. dollars as foreign currency reserves throughout the long years of decline will be even more loyal to the greenback now that it's making a comeback, right?

Wrong.

If the dollar is indeed on track for a multi-year uptrend, central banks are likely to slowly cut back on their dollar holdings. And with trillions of dollars sitting in foreign central bank coffers, analysts say that even a moderate reduction in reserves could put the brakes on any major surge by the U.S. currency. That means a long-term upswing in the dollar might be just as slow and steady as most of its downtrend was.

"The surge in central banks' foreign reserves (most of which are held in dollars) has been the flip side of the weak dollar over the past six years," said Chris Turner, currency strategist at ING in London. "If the dollar has begun a multi-year recovery...we could conceivably see a modest drawdown in reserves."

During the dollar's roughly six-year decline, global central banks increased their total foreign reserves from around $2 trillion to nearly $7 trillion, according to data from the International Monetary Fund. The dollar's share of these funds has actually increased, accounting for about 63% in the first quarter of 2008, up from about 55% in late 2001.

But that buildup in reserves may now change, as the dollar appears to have found a floor last month, when the euro hit an all-time high of $1.6040. The dollar has since risen about 10%, with the euro falling to as low as $1.4570 Tuesday.


Rainy Days Are Coming

The dollar reserves accumulated by central banks abroad aren't part of an return-seeking investment strategy. Nor are they necessarily intended as a security blanket, to be used in the event of a crisis. Experts say the massive amounts held by many central banks - about $1.8 trillion in China, $300 billion in India, $200 billion in Brazil - far surpass the amount deemed necessary to fend off financial market shocks.

Instead, many central banks, including those in the Middle East, China and Brazil, have been stacking up their greenbacks to counteract the dollar's weakness. Buying, or removing U.S. dollars from their local economies, has been an exercise in keeping their own currencies relatively weak, which boosts the economy by helping exports. Now, as the dollar starts to look up, there's less need for such central bank intervention.

Also, as commodity prices come down and a global economic slowdown begins to take hold, local governments may want to use at least some of the reserves to pay for public works projects and other job-creating ventures.

The central banks may "now have an opportunity to do something with the reserves," Turner noted.

Some countries are already being forced to part ways with their reserves as their currency feels the early effects of a stronger U.S. dollar.

South Korea's won is trading at a four-year low against the dollar as foreign investors ditch their won bets on worries over a global credit crisis and a slowing economy. The government has been selling dollars to support the won, shrinking its foreign-exchange reserves to the lowest mark in 15 months in July.

Meanwhile, the stronger dollar could also allow the U.S. government to renew pressure on China to allow its tightly-managed currency, the yuan, to appreciate, making U.S. exports to China more competitive. While the dollar was at record lows against the euro and multi-year lows against a host of other currencies, it was rather difficult for the U.S. to complain about China's weak currency.

A stronger yuan would probably have to come by way of less dollar purchases by China, which could stem, if not reduce, the buildup of foreign reserves by the People's Bank of China.

"The heavy purchases of dollars will have to stop at some point," said Robert Scott, global trade economist at the Economic Policy Institute, who said it might require "the mere threat of trade sanctions."

The PBOC doesn't disclose the composition of its reserves but Barclays Capital estimates around 65% are now denominated in dollars, mostly invested in U.S. Treasury bills.

Could anybody tell me the time of day for maximum volatility for the major currency pairs, or where I can find it for myself.

Much of what you need to know is in this thread header, Plateman.

Hil has gone to a lot of trouble over time - you'll have to study it.

The Three Musketeers look to be reunited again.

I didnt know about them first time around, where are they now Hils

Choc, can't see anywhere in my header that Hil has posted this information, all I have is a M5 GBP/USD chart and a calendar, should I have someting else?

Plateman - Things are usually (but not always) quiet during the overnight session although JPY AUD and NZD can be big movers between midnight and 2am due to news.

Currencies start to move as the Middle East and Europe get online around 6 to 7am.

Often the best moves can be experienced when London opens around 8am and volume really kicks in. There are many strategies based upon the London open. You can often find reversal of an overnight or European open move.

The greatest actual volatility is to be found around news events which are mostly scheduled. In the header you will see some items such as the German CPI this morning shown as 'HIGH'.

9:30 am is a good time for GB news to be announced. 13:30 and 15:00 are popular times for US news.

There is a big difference between playing the London open and attempting to trade a news event. If you expect your trade to be instantly processed during a major news event you may be very disappointed and very much out of pocket !