Forex Trading Signals

GBPUSD Oversold

2011-03-11T16:18:00.005+08:00

GBPUSD MACD

GBPUSD MACD signal line has crossed above the indicator`s histogram while both of them, MACD and histogram, been less than Zero. This is a probable bullish short term turning point.

GBPUSD Oversold

GBPUSD Stochastic (14) main line entered hourly oversold zone. Traders should NOT consider any short term short trades.

Buy GBPUSD

There is 58% probability that GBPUSD will reverse soon. Traders should consider buying the instrument or taking profits on current short trades.

GBPUSD Bullish | Bearish

2011-03-08T09:03:00.003+08:00

GBPUSD is consolidating now and likely make a to break. The guide is if GBPUSD were to close above 1.6350 will open the way for a little push upward to test next resistance level, and if it closes below 1.6172 will let the instrument test a new support level.

GBPUSD Bullish

2011-03-08T07:33:00.003+08:00

GBPUSD closed below 1.6225, below the new resistance level. Traders should stand aside for a clearer direction outlook for the market. There could be the start of the bullish retracement in the short term.

Buy GBPUSD | Forex Alert

2011-02-11T08:12:00.002+08:00

Buy GBPUSD as long as it remains above 1.6001.
Sell GBPUSD if the 4 hours chart close below 1.6001.

US Dollar’s Status in the Global Currency Reserve

2009-10-01T10:25:00.001+08:00

Global Currency Reserve
The greenback’s share of global currency reserves fell in the second quarter to 62.8 percent, from 65 percent in the first three months of the year, an IMF report showed. The euro’s share rose to 27.5 percent, from 25.9 percent.

The US Dollar Unscratched at G8

2009-07-09T08:03:00.002+08:00

The Dollar in the World Economy
Group of Eight leaders gathered for their meeting in L’Aquila, Italy, today after Russia and India said in the past week the world economy is too dependent on the dollar.

We think it is unlikely that any concrete proposals for reforming the international reserve system will make it into the G-8 final communiqué

Short GBPUSD with Trade Balance

2009-03-11T16:36:00.000+08:00

GBPUSD

Short Position at: 1.3740
Stop Loss at: 1.3840
Take Profit at: 1.3620 / 1.3440

OP, SL & TP at YOUR OWN RISKS

Forex Trading is a very risky trade and if you decide to trade, kindly note that you trade at your own risks. You Open Position, Take Profit and put a Stop Loss at Your Own Risks. We hold no responsibility for any losses or damages incurred.

GBPUSD Trading Signals

2009-02-10T15:17:00.001+08:00

GBPUSD

Long Position at: 1.4748

Stop Loss at: 1.4698

Take Profit at: 1.4800 / 1.4854 / 1.45110

OP, SL & TP at YOUR OWN RISKS

2008-12-16T08:22:00.001+08:00

www.myforextradingplatform.com
www.myforexwatch.com

How to gain back your Google Page Rank - How to earn money from the Internet blog - EzRich Project

2008-11-16T01:57:00.000+08:00

How to gain back your Google Page Rank - How to earn money from the Internet blog - EzRich Project

2008-11-10T01:25:00.001+08:00

Hello !

Interest Rate

2008-11-01T12:16:00.001+08:00

Policy makers next meet Nov. 6, when they will probably cut the region's main refinancing rate to 3.25 percent, according to the median forecast of 26 economists surveyed by Bloomberg News.
The Bank of England will lower its main rate by a half- point to 4 percent when it announces its next decision on Nov. 6, according to the median forecast of 30 economists surveyed by Bloomberg News.

GBP Mortgage Approvals News

2008-10-29T18:24:00.001+08:00

Economic News on Mortgage Approvals at 9.30 GMT

Forex News : Europe Follow Suit to Bail Out

2008-10-14T07:40:00.001+08:00

The European bail-out plan comes on the heels of last week's British bank bail-out plan and the $ 700 Billion US Bail Out

Forex Trading System

2008-10-09T16:30:00.001+08:00

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Forex Signals : GBPJPY

2008-10-09T16:23:00.001+08:00

GBPJPY
SHORT position at 174.90
STOP LOSS above 175.60 (-70 pips).
THE TARGETS are 174.22/ 173.42 / 172.86
OP, SL & TP at your own risks.

Non Farm Payroll Report - Watch Out Interest Rate

2008-10-03T07:43:00.006+08:00

The Sept. Non Farm Payroll Report is expected to show an estimated 90K to 105K Loss in Non Farm Payroll Jobs.

If unemployment continues to climb, watch for the Fed to ease its base interest rate.

Non Farm Payroll : Changes

2008-10-02T13:33:00.001+08:00

Change in Non Farm Payroll

Monthly change in employment excluding the farming sector. Non-farm payrolls is the most closely watched indicator in the Employment Situation, considered the most comprehensive measure of job creation in the US. Such a distinction makes the NFP figure highly significant, given the importance of labor to the US economy. Specifically, political pressures come into play, as the Fed is responsible for keeping employment in a healthy range and utilizes interest rate changes to do so. A surge in new Non-farm Payrolls suggests rising employment and potential inflation pressures, which the Fed often counters with rate increases. On the other hand, a consistent decline in Non-farm Employment suggests a slowing economy, which makes a decline in rates more likely.

GBPJPY

2008-10-02T13:28:00.000+08:00

SHORT position at 187.20
STOP LOSS above 187.70 (-50 pips).
THE TARGETS are 186.72 / 185.80
OP, SL & TP at your own risks.

USD: Bush Pushes Bail Out Plan

2008-09-30T23:59:00.001+08:00

WASHINGTON - Congressional leaders scrambled Tuesday to find enough changes to sell the multibillion-dollar financial rescue to their rank-and-file, with long-distance prodding from John McCain and Barack Obama on the presidential campaign trail.

Both McCain and Obama announced their backing for a plan that some House Republicans had pushed earlier: raising the federal deposit insurance limit from $100,000 to $250,000 in a bid to reassure nervous Americans and to shore up the economy. President Bush sought to avoid being marginalized, making another statement at the White House. "Congress must act," he demanded.
Republican House aides said the FDIC proposal might be attractive to some conservatives who want to help small business owners and avert runs on banks by customers fearful of losing their savings. The leadership needs to find sufficient changes to attract about a dozen more votes, the number needed to avoid the kind of stunning defeat that supporters of a bailout suffered Monday.
Obama's embrace of the idea might attract some Democratic votes.
Bush warned that failing to pass such a plan would bring severe consequences to the U.S. economy. McCain and Obama echoed his sentiments. Both the Republican and Democratic nominees spoke with Bush on Tuesday, and both have let colleagues know they embrace the higher FDIC insurance idea.

66 Pips Profit : Buy GBPJPY on Retracement

2008-09-26T00:44:00.002+08:00

GBPJPY
LONG position at 195.70
STOP LOSS below 195.20 (- 50 pips).
THE TARGETS are 196.36
OP, SL & TP at your own risks

LONG GBPJPY : TARGET 200.00

2008-09-25T17:29:00.000+08:00

GBPJPY
LONG position at 196.10
STOP LOSS below 195.60 (- 50 pips).
THE TARGETS are 196.90 / 197.50
OP, SL & TP at your own risks

Bush warned Congress on Bail Out Plan

2008-09-25T17:23:00.001+08:00

Congress continues to scrutinize the $700 billion bailout plan proposed to calm the turmoil inflicting financial markets, traders remained concern about whether such a plan will be successful in staving off further rapid deterioration in economic fundamentals. Earlier in the session, President Bush warned that not passing the rescue plan would cost Americans much more in the long run given widespread loss of confidence and the current risk of major sectors of the financial system at risk of shutting down, ultimately resulting in a "long and painful recession". He struck a somber tone, saying "without immediate action by Congress, America could slip into a financial panic and a distressing scenario would unfold".

Fed Chairman Bernanke offered a similar assessment when he testified to Congress on Wednesday, saying further delay in passing the plan would result in severely impacting "the overall performance of the US economy, perhaps over a period of years". He added that "the intensification of financial stress in recent weeks, which will make leaders still more cautious about extending credit to households and business, could prove a significant drag on growth".

Uncertainty of the US Dollar

2008-09-23T11:54:00.000+08:00

USD Plunges Amid Wavering Confidence
by Korman Tam
The dollar sold off sharply against the majors at the start of the week amid a sharp run-up in crude oil prices and steep declines in the US equity bourses. Oil posted its largest single day advance, rallying by $16.37 to $120.92 per barrel, which was largely attributed to the expiration of October contracts. The US equity markets sold-off sharply as confidence in the government's bailout plan and ability to steer the financial sector away from the current crisis wavered, sending the Dow Jones lower by 3.27% and the Nasdaq losing 4.17%. The greenback plunged by nearly 4-big figures against the euro from 1.4436 to above the 1.48-level while losing over 3-big figures versus the sterling from 1.8262 to 1.8588.

Uncertainty over the US government's $700 billion rescue plan to purchase bad mortgage debts off banks' balance sheets has triggered heightened volatility in the financial markets and raised fears on whether it will solve the current crisis. The plan is still pending Congressional approval, with additional details possibly not revealed until next week. The dollar will likely continue to bear the brunt of the sharp volatility and concerns of a potentially sharp spike in the deficit. Spot gold continues to trade above $900 per ounce, while crude oil was up by over $25 per barrel in the previous session.

EURUSD trades near the 1.48-level, with interim resistance eyed at 1.4820, followed by 1.4865 and 1.49. Additional gains are seen at 1.4930, backed by 1.4960 and 1.50. On the downside, support will emerge at 1.4750, followed by 1.47 and 1.4660. Subsequent floors are seen at 1.4630, backed by 1.46 and 1.4550.

SHORT GBPUSD

2008-09-19T23:52:00.003+08:00

Open SHORT GBPUSD @ 1.8310 SL 1.8360 TP 1.8238

GBPUSD

2008-09-19T23:27:00.001+08:00

GBPUSD :
OPEN POSITION SHORT @1.7980
STOP LOSS @ 1.8030 (-50 pips).
TAKE PROFIT @ 1.7936
OP, SL & TP at your own risks.

GBPUSD

2008-09-17T12:40:00.001+08:00

GBPUSD :
OPEN POSITION SHORT @1.7784 .
STOP LOSS @ 1.7834 (-50 pips).
TAKE PROFIT @ 1.7734 / 1.7668
OP, SL & TP at your own risks.

Interests Rate : The Dollar & The Yen

2008-09-16T07:52:00.004+08:00

Long GBPJPY

2008-09-15T07:38:00.000+08:00

GBPJPY : LONG @192.20. SL@ 191.20 (-100 pips). TP @ 193.00 / 194.00
OP, SL & TP at your own risks.

Short GBPJPY

2008-09-12T15:13:00.001+08:00

GBPJPY
SHORT position at 190.20
STOP LOSS above 190.70 (-50 pips).
THE TARGETS are 188.50
OP, SL & TP at your own risks.

GBPJPY

2008-09-10T18:25:00.000+08:00

GBPJPY
SHORT position at 189.30
STOP LOSS above 189.80 (-50 pips).
THE TARGETS are 188.60 / 188.00 / 187.46
OP, SL & TP at your own risks.

BULLISH GBPJPY

2008-09-10T15:40:00.000+08:00

GBPJPY
LONG position at 188.90
STOP LOSS below 188.40 (- 50 pips).
THE TARGETS are 189.50 / 190.86
OP, SL & TP at your own risks

Fudamental News

2008-09-09T12:20:00.003+08:00

Forex Signals : EURUSD

2008-09-04T14:49:00.000+08:00

EUR/USD (1.4490)
European & US sessions forecast levels: 1.4385/1.4555
Trend Sessions: European: Neutral/Downward
US: Neutral

GBPJPY Signals

2008-09-04T14:35:00.001+08:00

GBPJPY
SHORT position at 192.40
STOP LOSS above 192.90 (-50 pips).
THE TARGETS are 192.76 / 191.50 / 191.10
OP, SL & TP at your own risks.

GBPJPY

2008-09-02T08:37:00.000+08:00

GBPJPY
LONG position at 194.00
STOP LOSS below 193.50 (- 50 pips).
THE TARGETS are 194.60 / 195.23
OP, SL & TP at your own risks

GBPJPY @ 22:30 GMT 1 Sept

2008-09-02T06:07:00.001+08:00

SHORT position at 194.60
STOP LOSS above 195.10 (-50 pips).
THE TARGETS are 194.06
OP, SL & TP at your own risks.

GJ

2008-09-01T15:19:00.000+08:00

GBPJPY
SHORT position at 195.60
STOP LOSS above 196.10 (-50 pips).
THE TARGETS are 195.46 / 195.06 /
OP, SL & TP at your own risks.

USDJPY

2008-09-01T12:46:00.000+08:00

GBPJPY

2008-08-27T08:53:00.000+08:00

GBPJPY
LONG position at 201.50
STOP LOSS below 201.00 (- 50 pips).
THE TARGETS are 201.70 / 202.08 / 202.86
OP, SL & TP at your own risks
GBPJPY
SHORT position at 201.35
STOP LOSS above 201.85 (-50 pips).
THE TARGETS are 200.80 / 200.46 / 200.00
OP, SL & TP at your own risks.

The Yen

2008-08-26T11:32:00.001+08:00

Yen, Swiss Franc Advance on Reduced Demand for Higher Yields
Aug. 25 (Bloomberg) -- The yen and Swiss franc rose against most of the other major currencies on bets credit market losses will widen, prompting investors to sell holdings of higher- yielding assets and pay back loans in Japan and Switzerland.

GBPJPY

2008-08-22T18:07:00.001+08:00

GBPJPY
LONG position at 202.90
STOP LOSS below 202.10 (- 80 pips).
THE TARGETS are 203.20 / 203.70 / 204.10
OP, SL & TP at your own risks
GBPJPY
SHORT position at 203.70
STOP LOSS above 204.50 (-80 pips).
THE TARGETS are 203.00 / 202.50
OP, SL & TP at your own risks.

GBPJPY

2008-08-22T15:44:00.001+08:00

GBPJPY
LONG position at 204.00
STOP LOSS below 203..50 (- 50 pips).
THE TARGETS are 204.60 / 205.60
OP, SL & TP at your own risks
GBPJPY
SHORT position at 204.20
STOP LOSS above 204.70 (-50 pips).
THE TARGETS are 203.80 / 203.60
OP, SL & TP at your own risks.

Fed Chairman Speach : Fannie Mae & Freddie Mac

2008-08-22T11:15:00.004+08:00

USD Slumps as Oil Spikes
by Korman Tam
8/21/2008 3:25:00 PM
The dollar tumbled across the board in the Thursday session on the heels of a rally in oil, which jumped to its highest level in 2 ½-weeks to $121.94 per barrel. The spike higher in crude prices was prompted by a combination of heightened geopolitical uncertainty stemming from Russia's decision to halt cooperation with NATO and warnings that Saudi Arabia may scale back its recent increase in production amid declining prices. The move higher in oil sent the greenback lower, falling near the 1.49-level against the euro and 108.10 versus the yen.

The US economic reports released today saw improvements in both weekly jobless claims and the Philadelphia Fed manufacturing survey. Weekly jobless claims improved to 432k, down from 450k a week earlier. Meanwhile, the Philadelphia Fed manufacturing survey was better than expected at -12.7 in August, versus calls for an improvement to -14.0 from -16.3 in the previous month. The July leading indicators deteriorated to -0.7%, compared with -0.1% from June.

Traders will look ahead to tomorrow's speech by Fed Chairman Ben Bernanke slated for 10:00 AM. His speech will be closely scrutinized for hints on future policy moves and any indications of support for troubled Fannie Mae and Freddie Mac.

GBPJPY

2008-08-20T07:30:00.000+08:00

GBPJPY
LONG position at 204.70
STOP LOSS below 204.20 (- 50 pips).
THE TARGETS are 205.26 / 205.80
OP, SL & TP at your own risks

KG Trapping Mode

2008-08-19T08:15:00.001+08:00

Fundamental News : USA Housing Starts
Relevance: Tends to move markets on release
Release schedule : 8:30 AM (EST); monthly, two or three weeks after the reporting month
Source of report : U.S. Census Bureau
Web Address : www.census.gov
Address of release : www.census.gov/const/www/newresconstindex.html

GBPJPY

2008-08-15T15:00:00.001+08:00

GBPJPY
SHORT position at 204.88
STOP LOSS above 205.48 (- 60 pips).
THE TARGETS are 204.54 / 204.10 / 203.68
OP, SL & TP at your own risks
GBPJPY
LONG position at 205.16
STOP LOSS above 204.56 (-60 pips).
THE TARGETS are 205.44 / 205.70 / 206.12
OP, SL & TP at your own risks.

USD Today 15 Aug.

2008-08-15T12:38:00.001+08:00

GBPJPY

2008-08-15T10:17:00.000+08:00

GBPJPY
LONG position at 205.30
STOP LOSS above 205.00 (-30 pips).
THE TARGETS are 205.70 / 206.12
OP, SL & TP at your own risks.

Euro

2008-08-08T07:54:00.000+08:00

Euro Declines Against Dollar as ECB Cites Economic Growth Risks
Aug. 7 (Bloomberg) -- The euro fell against the dollar after European Central Bank President Jean-Claude Trichet said second- half economic growth will slow, reducing expectations the ECB will raise interest rates again this year.

Yen Declines

2008-08-07T11:21:00.000+08:00

USD Rallies, Awaits ECB & BoE
by Korman Tam
8/6/2008 3:00:00 PM
The dollar rallied sharply across the board on Wednesday, breaking another technical resistance level - past the 108.60-handle versus the yen to reach a new 7-month high to 109.62. Crude oil slumped to a fresh 3-month low at $117.29 per barrel while gold fell to a near 2-month low at $872.35. The shift in market sentiment to focus on deteriorating growth prospects has rewarded the greenback amid burgeoning recessionary fears in the UK and Japan.

Drop

2008-08-05T10:35:00.000+08:00

Pound Falls as Construction Index Drops to Lowest Since 1997

Aug. 4 (Bloomberg) -- The pound fell to near a one-month low against the dollar after a report showed the U.K.'s construction industry shrank at the fastest pace in 11 years.

The Dollar Mixed

2008-08-02T11:03:00.001+08:00

USD Edges Higher Following Jobs
by Korman Tam
8/1/2008 2:19:00 PM
The US economic reports released in the Friday session offered a mixed bag of data, providing traders with conflicting signals and whipsawing the major currency pairs around. The dollar initially rallied sharply upon the release of the July non-farm payrolls reading, which bested consensus estimates for deterioration to -75k from -62k in June, instead revealing an improved jobs loss of 51k. The payrolls figure bolstered the greenback to its highest level since late June against the euro to test its one-year trendline support at 1.5518. However, the jobs report was not entirely rosy given the larger than expected reading in the July unemployment rate - which edged up to its highest level in 4-years at 5.7%, higher than calls for an increase to 5.6% from 5.5% in May. Meanwhile, manufacturing ISM in July beat estimates for a contraction, holding firm at the key 50-level and drifting marginally from the June reading of 50.2.

The greenback retreated sharply away from a year-long ascending support line against the euro near the 1.5520-region amid rebounds in crude oil and spot gold. Moreover, the dollar touched key levels against the Loonie and Swissie around the 1.03 and 1.05 handles, respectively, but failed to garner enough momentum to breach the aforementioned resistance levels. The current outlook continues to favor a stronger dollar stemming from the rapid deterioration in economic fundamentals across the Atlantic and tempered expectations for monetary policy tightening from both the ECB and BoE. However, failure to breach those key levels against the euro, Canadian dollar and Swiss franc will likely result in further consolidation in the major currencies, with movements largely dictated by price action in both crude oil and spot gold.

Forex Fundamental News

2008-08-01T08:04:00.001+08:00

Dollar Falls: Awaits Non Farm Payroll

2008-08-01T07:55:00.000+08:00

FX Awaits US Jobs
by Korman Tam
7/31/2008 3:03:00 PM
The dollar is firmer against the majors by the New York afternoon following sharp swings in the morning to hover near similar levels from the previous session. The greenback sold off heavily across the board following a sharply higher than expected weekly jobless claims reading, which surged to 448k from 406k in the previous week due to "special factors", prompting the dollar to lose footing to the just beneath the 1.57-handle. However, the losses were short-lived as traders took to the sidelines ahead of Friday's key July labor report. The dollar also benefited from pullbacks in both spot gold and crude oil, which reversed their earlier session's gains.

The advanced reading for Q2 GDP was slightly less than forecast at 1.9%, marginally missing estimates of 2%, but improving from the previous reading of 1.0%. The employment cost index held steady at 0.7%, while the GDP deflator fell sharply to 1.1% from 2.7% in the previous quarter. Meanwhile, the July Chicago PMI unexpectedly improved above the 50-level to 50.8, versus 49.6 in June.

Traders will turn to tomorrow's key labor report, with estimates calling for the July unemployment rate to edge up to 5.6% from 5.5% a month earlier. The non-farm payrolls figure is seen remaining in negative territory for the 7th consecutive month, with forecasts calling for an increase in jobs lost to 75k in July, versus a 65k job loss a month earlier. The recent reports provided conflicting signals, with Wednesday's ADP private sector payrolls report better than expected, revealing an increase of 9k jobs versus a loss 79k in the previous month while today's weekly jobless claims unexpectedly spiking sharply higher.

Dollar Advances

2008-07-31T11:36:00.000+08:00

Dollar Advances to One-Month High as U.S. Companies Add Jobs

July 30 (Bloomberg) -- The dollar rose to a one-month high versus the euro and the yen after a private report showed U.S. companies unexpectedly added jobs this month.

The greenback also gained as a decline in crude oil eased concern elevated fuel costs will erode consumer spending. New Zealand's dollar dropped against all of the other major currencies except the Australian dollar after Reserve Bank Governor Alan Bollard said slowing economic growth will curb inflation in the next two years.

``It's premature to say employment destruction has hit bottom, but today is a good sign,'' said Mike Moran, a senior currency strategist at Standard Chartered in New York. ``In conjunction with a pullback in oil prices recently, it certainly contributed to the dollar's recovery.''

The dollar increased 0.4 percent to $1.5524 per euro at 9:49 a.m. in New York, from $1.5588 yesterday. It touched $1.5522, the strongest level since June 24. It may advance to $1.5460, Moran said. The U.S. currency rose 0.2 percent to 108.30 yen, from 108.11. It touched 108.33, the highest since June 25. The euro fell 0.2 percent to 168.14 yen, from 168.53.

USD Last Friday 25 July

2008-07-26T11:48:00.000+08:00

Upbeat Data Props USD
by Korman Tam
The greenback was higher in the Friday session, rallying near the 108-level against the yen and 1.5650 versus the euro on the heels of better than expected US economic reports. The data released today consisted of June durable goods orders, new home sales and the July University of Michigan sentiment survey, all of which exceeded consensus estimates.

The headline durable goods orders report increased by 0.8%, beating calls for a 0.3% decline and up from a flat reading from May, while the excluding transportations figure shot up by 2.0%, reversing the 0.8% decline a month earlier. The University of Michigan sentiment survey improved by larger than expected jumping to 61.2 and sharply improving from its 28-year low in June at 56.4. Meanwhile, new home sales also jumped to 530k units in June, edging out consensus estimates of a decline to 500k units from 512k units from May.

A combination of weak data overseas and better than expected reports from the US helped prop the dollar to one-month highs against the yen and near two-week highs versus the euro. The economic calendar for next week will provide additional news for traders to digest to gauge the state of the US economy. The reports consist of July consumer confidence, Q2 GDP, employment cost index, PCE, weekly jobless claims, Chicago PMI, July non-farm payrolls, unemployment rate, and manufacturing ISM. The US economy is seen expanding by 1.9% in the second quarter, improving from 1.0% previously. The July manufacturing ISM is estimated to bode poorly for the economy, falling beneath the key 50-level which distinguishes between expansion and contraction to 49.8, versus 50.2 a month earlier. The key highlight will be Friday's July jobs report, with the unemployment rate expected to edge back higher to 5.6% from 5.5% a month earlier.

Signals: GBPJPY Downtrend

2008-07-25T16:02:00.003+08:00

GBPJPY
SHORT position at 212.20
STOP LOSS above 212.70 (- 70 pips).
THE TARGETS are 211.00 / 210.40
OP, SL & TP at your own risks

Euro Falls

2008-07-25T12:13:00.001+08:00

Euro Falls Against Yen as German Business Confidence Slumps
July 24 (Bloomberg) -- The euro fell the most against the yen in more than a week as a drop in business confidence in Germany reduced speculation that the European Central Bank will raise interest rates again this year.

Fundamental News Today GBPJPY GBPUSD EURJPY

2008-07-24T14:34:00.000+08:00

The Dollar & The Yen Centrestage

2008-07-24T12:44:00.000+08:00

Dollar Rises to Four-Week High as Fannie, Freddie Plan Advances

July 23 (Bloomberg) -- The dollar rose to a four-week high against the yen and advanced versus the euro as a U.S. government rescue of Fannie Mae and Freddie Mac moved closer to congressional passage and oil prices fell.

The currency also gained as signs of stability in the financial industry fueled bets that the Federal Reserve will raise interest rates in September. The yen touched a record low against the euro as reduced currency and stock volatility encouraged investors to add to holdings of higher-yielding assets funded in Japan.

``The government's backstop for Fannie and Freddie is containing systemic risk,'' said Richard Franulovich, a senior currency strategist at Westpac Banking Corp. in New York. ``It created a blue sky for the financial markets and gave a boost to the dollar.''

The dollar rose 0.4 percent to 107.81 yen at 10:59 a.m. in New York, from 107.33 yesterday. It reached 107.92, the highest since June 26. The U.S. currency appreciated 0.6 percent to $1.5687 per euro, from $1.5783. The yen gained 0.2 percent to 169.15 per euro, from 169.43 yesterday. It touched 169.96, the weakest since the euro's 1999 debut.

The Chinese yuan fell 0.1 percent to 6.8298 versus the dollar. China will slow the local currency's gains to about 3 percent in the second half of the year to help exporters weather a decline in global demand and rising costs, said Zhang Ming, a researcher at the Chinese Academy of Social Sciences in Beijing.

Fed Rate Outlook

Futures traded on the Chicago Board of Trade showed a 55 percent chance the Fed will increase its 2 percent target rate for overnight lending between banks by at least a quarter- percentage point by Sept. 16, up from 49 percent odds yesterday. Policy makers next meet Aug. 5.

Lawmakers reached a deal on legislation that authorizes the U.S. to bail out Fannie Mae and Freddie Mac, the two largest buyers of home loans.

Treasury Secretary Henry Paulson told reporters in Washington today the bill will send a ``very strong message'' to markets. The legislation is ``key to helping us turn the corner,'' he said.

The dollar touched a record low of $1.6038 per euro on July 15 as traders speculated that Fannie and Freddie, which own or guarantee almost half of the $12 trillion in outstanding home loans, would be forced to seek a bailout.

Better-than-expected earnings at Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo sparked a rally in global financial stocks last week.

`Bottoming Process'

``The gloomiest expectations for banking losses'' weren't realized, said Vassili Serebriakov, a currency strategist at Wells Fargo & Co. in New York. ``The dollar is in a bottoming process.''

The yen dropped 0.8 percent to 215.46 against the pound and 0.3 percent to 68.12 versus the Brazilian real as the drop in volatility encouraged carry trades, in which investors get funds in a country with low borrowing costs and buy assets where returns are higher. Japan's target lending rate of 0.5 percent compares with 5 percent in the U.K. and 12.25 percent in Brazil.

Implied volatility on one-month dollar-yen options touched 10.775 percent, the lowest since July 14. The VIX index, an indicator of U.S. stock option volatility, touched the lowest level in almost a month. Reduced price fluctuation makes carry trade profit easier to predict.

The euro extended its decline versus the dollar as a report showed industrial orders in the euro region fell in May more than twice as much as forecast. Orders dropped 3.5 percent from April, the European Union statistics office in Luxembourg said today, compared with a 1.3 percent decline predicted by economists in a Bloomberg News survey.

Yield Spread

The yield on the U.S. two-year Treasury note increased 6 basis points, or 0.06 percentage point, to 2.77 percent. The yield advantage of the comparable-maturity German bund decreased to 180 basis points, the narrowest since June 25, making U.S. securities more attractive.

Crude oil for September delivery fell for a second day, declining 1.4 percent to $126.18 a barrel. It has dropped 15 percent from a record $147.27 a barrel reached July 11. The euro-dollar exchange rate and oil have moved in the same direction 90 percent of the time during the past year, according to Bloomberg calculations based on the correlation of their value changes.

The Fed will issue its Beige Book report, a survey of regional economic performance, at 2 p.m. today in Washington. Economic growth was ``generally weak'' in April and May as consumer spending slowed, the Fed said in its June 11 report.

Dollar Advances

2008-07-23T07:49:00.001+08:00

Dollar Advances as Paulson Stresses Support for U.S. Currency

July 22 (Bloomberg) -- The dollar rose the most against the euro in almost a week as Treasury Secretary Henry Paulson voiced support for the currency and the Federal Reserve Bank of Philadelphia president said interest rates should be raised.

Forex News Today

2008-07-10T12:47:00.000+08:00

Forex Signals - GBPJPY

2008-07-08T11:33:00.001+08:00

GBPJPY
SHORT position at 211.60
STOP LOSS above 212.00 (- 40 pips).
THE TARGETS are 211.38 / 211.08
OP, SL & TP at your own risks

Forex Signals - GBPJPY

2008-07-03T15:25:00.000+08:00

GBPJPY
SHORT position at 210.60
STOP LOSS above 211.60 (- 100 pips).
THE TARGETS are 210.20 / 209.56 / 209.38
OP, SL & TP at your own risks

GBPUSD

2008-07-01T15:04:00.001+08:00

GBPUSD
LONG position at 1.9890
STOP LOSS below 1.9840 (- 50 pips).
THE TARGETS are 1.9988 / 2.0168
OP, SL & TP at your own risks

The Dollar, Euro and the Yen

2008-07-01T08:08:00.000+08:00

The Japanese currency is forecast to rise to 100 per dollar and 148 against the euro within a year, according to the median of analysts' estimates compiled by Bloomberg. The world's second-largest economy shrank at an annual 0.4 percent pace in the second quarter, a separate Bloomberg survey of 17 economists showed.

Forex Signals : GBPJPY Downtrend

2008-06-30T15:21:00.001+08:00

GBPJPY
SHORT position at 211.26
STOP LOSS above 212.76 (- 50 pips).
THE TARGETS are 210.58 / 209.90
OP, SL & TP at your own risks

New Forex Signals : CHICAGO PMI : USDJPY

2008-06-30T13:17:00.002+08:00

CHICAGO PMI
BUY USD/JPY - if it is 52.0
SELL USD/JPY – if < 44.0

USDJPY
SHORT position at 106.10
STOP LOSS above 106.60 (- 50 pips).
THE TARGETS are 105.70 / 105.00
OP, SL & TP at your own risks

GBPUSD

2008-06-27T14:31:00.000+08:00

GBPUSD
LONG position at 1.9860
STOP LOSS below 1.9800 (-60 pips).
THE TARGETS are: 1.9912/1.9940/2.000
OP, SL & SL at your own risks

FREE FOREX SIGNALS : GBPJPY 26 JUN

2008-06-26T12:11:00.000+08:00

BUY TARGET : 213.32 / 213.54 / 213.88
SELL TARGET : 212.90 / 212.78 / 212.52

Forex News

2008-06-26T07:58:00.001+08:00

FOMC Unchanged, Increased Risks to Inflation
by Korman Tam
6/25/2008 2:30:00 PM

The Federal Reserve, as expected, held monetary policy unchanged at 2% when it announced its decision shortly after 2:00pm. However, the vote to leave rates unchanged was not by unanimous decision with Dallas Fed President Fisher voting in favor of a rate hike. Although the dollar initially jumped higher following the announcement, it quickly relinquished those gains as traders digested the accompanying statement.
Dollar Little Changed Versus Euro Before Fed Decision on Rates
June 25 (Bloomberg) -- The dollar was little changed against the euro before the Federal Reserve ends a two-day meeting at which policy makers are forecast to keep the target lending rate at the lowest level in more than three years.
The dollar pared its decline as crude oil prices fell on an unexpected increase in inventories, reducing the need to sell the U.S. currency as a hedge against inflation. Fed Chairman Ben S. Bernanke said on June 9 the central bank would ``strongly resist'' a leap in inflation expectations.

GBPJPY Chart Before New Housing Sales

2008-06-25T21:37:00.000+08:00

Forex Signals GBPJPY Uptrend Begins

2008-06-25T18:09:00.003+08:00

GBPJPY LONG Target this week 214.84

Forex Signals: GBPJPY

2008-06-24T12:28:00.000+08:00

GBPJPY
LONG position at 212.10
STOP LOSS below 211.60 (-50 pips).
THE TARGETS are 212.36/ 212.54
OP, SL & TP at your own risks

GBPJPY RETRACE TO 211.08 / 210.60

2008-06-22T18:37:00.004+08:00

GBPJPY
SHORT position at 213.00
STOP LOSS above 213.50 (- 50 pips).
THE TARGETS are 212.38 / 212.02 / 211.74
OP, SL & TP at your own risks

The above signal was posted on Friday,20th.Jun.
The retrace will continue to 211.42 or even down to 211.08 / 210.60 before continuing the uptrend again.

The Target will be 214.00

NEWS & THE DOLLAR

2008-06-21T09:53:00.002+08:00

Dollar Heads for Weekly Drop on Pared Bets Fed to Raise Rates

June 20 (Bloomberg) -- The dollar was headed for its biggest weekly drop against the euro in almost three months on speculation the Federal Reserve will delay increasing interest rates to protect the U.S. economy.

GBPJPY RETRACEMENT

2008-06-20T08:24:00.001+08:00

GBPJPY
SHORT position at 213.00
STOP LOSS above 213.50 (- 50 pips).
THE TARGETS are 212.38 / 212.02 / 211.74
OP, SL & TP at your own risks

GBPJPY

2008-06-18T09:43:00.000+08:00

GBPJPY
SHORT position at 211.26
STOP LOSS above 212.76 (- 50 pips).
THE TARGETS are 211.10 / 210.80
OP, SL & TP at your own risks

Dollar Falls on Housing

2008-06-18T08:13:00.000+08:00

Dollar Falls Versus Euro as Housing Starts Reach 17-Year Low

June 17 (Bloomberg) -- The dollar fell against the euro after a government report showed housing starts dropped in May to a 17-year low, raising speculation the Federal Reserve will delay increasing borrowing costs this year.

The pound weakened versus the euro and the dollar after Bank of England Governor Mervyn King said the path to bringing inflation within the central bank's target is ``uncertain.'' South Korea's won rose the most against the dollar in almost three months after the government said it will use a stronger currency to help slow inflation.

``The reduced expectations for the Fed rate hike certainly will come back to bite the dollar,'' said Todd Elmer, currency strategist at Citigroup Global Markets Inc. in New York. ``The economy won't recover dramatically anytime soon.''

The dollar decreased 0.1 percent to $1.5499 per euro at 9:32 a.m. in New York, from $1.5477 yesterday. The U.S. currency traded at 108.18 yen, compared with 108.22. The yen fell 0.1 percent to 167.65 per euro, from 167.49.

South Korea's won was the biggest gainer versus the U.S. currency, climbing 1.5 percent to 1,023.30 Policy makers will take ``solid'' measures, including favoring a stronger currency, to cool inflation, said Choi Jong Ku, head of the finance ministry's international finance bureau.

Sterling dropped 0.7 percent to $1.9494 and 0.8 percent to 79.46 pence per euro as King predicted will British inflation will exceed 4 percent this year. The rate accelerated to 3.3 percent in May, the highest since at least 1997, the Office for National Statistics said in a report.

Housing Starts

U.S. housing starts dropped to an annual rate of 975,000 in May, from a revised 1.008 million the previous month, the Commerce Department said today in Washington. The median forecast of 72 economists surveyed by Bloomberg News was for a decrease to 980,000 from a previously reported 1.032 million.

Industrial production in the U.S. unexpectedly fell in May. Production in factories, mines and utilities declined 0.2 percent last month after dropping 0.7 percent in April, the Fed reported today in Washington. Economists had forecast industrial production would rise 0.1 percent, according to the median of 68 estimates in a Bloomberg News survey.

The dollar weakened against the euro earlier after the Wall Street Journal and the Financial Times reported the U.S. central bank would probably leave borrowing costs unchanged beyond its June policy meeting.

Futures on the Chicago Board of Trade showed a 54 percent chance the Fed will increase the 2 percent target rate for overnight lending between banks by at least a quarter-percentage point at its August meeting, compared with 69 percent odds yesterday. There's a 16 percent chance policy makers will lift the rate to 3 percent by December.

German Confidence

The euro pared gains against the dollar after a report showed investor confidence in Germany fell to a more than 15- year low this month. The Mannheim-based ZEW Center for European Economic Research said its index of investor and analyst expectations fell to minus 52.4, from minus 41.4 in May. A negative reading means pessimists outnumber optimists.

European Central Bank President Jean-Claude Trichet said on June 5 policy makers may raise the 4 percent main refinancing rate next month to curb the fastest inflation in 16 years.

``The ZEW report could encourage euro selling,'' said Akio Shimizu, chief manager of foreign-exchange trading in Tokyo at Mitsubishi UFJ Trust & Banking Corp., a unit of Japan's second- largest lender. ``Signs of a weakening economy mean the ECB could reverse course and switch to a monetary easing bias later this year.'' The euro may fall to $1.5430 today, he said.

Producer Prices

Prices paid to U.S. producers rose more than forecast in May as higher fuel and food costs heightened the threat of inflation. The 1.4 percent jump was the biggest gain since November and followed a 0.2 percent increase in April, the Labor Department said today in Washington. So-called core producer prices that exclude fuel and food increased 0.2 percent, matching economists' projections.

The Fed needs to prevent the public's expectation that inflation will accelerate from spurring demands for higher wages, William Poole, former St. Louis Fed President, said today in an interview on Bloomberg Television.

``You want to keep wages behaving,'' he said. Once the public's anticipation of rising prices begins to stoke demands for higher wages, ``the jig is up'' and inflation becomes harder to eradicate.

The public's outlook for annual inflation over five years stood at 3.4 percent in June, up from 2.9 percent the same month last year, according to the Reuters/University of Michigan Survey.

Poole also spoke out against Fed intervention with the value of the dollar. ``The Fed does not have the power to put a floor under the dollar,'' he said. ``I think the Fed should stay clear.''

The Dollar and Interest Rate Hike Expectations

2008-06-18T02:09:00.001+08:00

USD Supported by Rate Hike Expectations
by Korman Tam
6/16/2008 2:30:00 PM

The greenback maintained its buoyant tone against the majors at the start of the week, rallying to a fresh 3 ½-month high versus the yen at 108.56 and 1.5348 against the euro. Despite US Treasury Secretary Hank Paulson continuing to talk up the dollar at the meeting, there was no official mention of currencies in the communiqué from the G8 Finance Ministers meeting. Further, there was also no discussion of possible coordinated intervention to prop up the dollar. The primary issue of concern at the meeting was tackling sharp rises in global inflation, particularly rapid increases in the prices for commodities and oil. Nonetheless, the dollar managed to shrug off the lack of mention at the meeting and continues to hold onto its gains.

Economic data released earlier in the session saw the June NY Fed manufacturing survey contract by more than anticipated at minus 8.68, versus expectations for an improvement to minus 2 from minus 3.23 in May. Meanwhile, the April TICS data revealed net capital inflows increasing to $60.6 billion, a sharp reversal from net sales of $48.2 billion in the previous month. The NAHB housing market index fell to 18 in June, down slightly from a reading of 19 in May.

The coming week will see several key economic reports from the US including May PPI, Q1 current account balance, May housing starts, industrial production, capacity utilization, June Philadelphia Fed manufacturing survey, and May leading economic indicators. Inflation is seen creeping higher with PPI expected to edge up to 0.8% in May from .2% a month earlier, while the excluding food and energy PPI is expected to ease to 0.2% from 0.4%. Housing starts are expected to remain weak, at 980k in May and down from 1.03million units from April.

GBPJPY

2008-06-17T11:14:00.001+08:00

GBPJPY
SHORT position at 212.18
STOP LOSS above 212.68 (- 50 pips).
THE TARGETS are 211.88 / 211.40
OP, SL & TP at your own risks

UPDATED SIGNALS : GBPJPY

2008-06-16T16:21:00.000+08:00

GBPJPY
LONG position at 211.50
STOP LOSS below 210.50 (-100 pips).
THE TARGETS are 212.10/ 212.38 / 212.74

GBPJPY TARGET : 214.00

2008-06-13T00:18:00.002+08:00

GBP JPY is in a consolidation after the last bullish movement. There is an horizontal range between 209.60 and 210.20. Support and resistance are given by Bollinger bands. The volatility is low. Bollinger bands are flat. The consolidation should continue. The price should continue to move in Bollinger bands. If the resistance is broken then the target will be 214.00.

Lookout for a break of resistance to take a long position.

GBPJPY
LONG position at 210.20
STOP LOSS below 209.20 (-100 pips)
THE TARGETS are 210.60/ 210.88/ 211.22
OP, SL & TP at your own risks

Bloomberg News :Euro Rises Versus Dollar After Biggest Two-Day Drop Since 2005

2008-06-12T14:33:00.001+08:00

Euro Rises Versus Dollar After Biggest Two-Day Drop Since 2005

June 11 (Bloomberg) -- The euro strengthened against the dollar as traders speculated its biggest two-day decline since 2005 was too much to be sustained.

The 15-nation currency traded near a seven-month high against the yen after European Central Bank Executive Board Member Juergen Stark said markets understood the bank's signal to raise borrowing costs next month, though he discounted a ``series'' of increases.

``Interest rate expectations and ECB hawkishness make no cases as yet for the euro to turn,'' said Benedikt Germanier, an analyst at UBS AG in Stamford, Connecticut, in an interview on Bloomberg Television. ``It's too early to sell euro-dollar.''

The euro rose 0.3 percent to $1.5507 at 9:27 a.m. in New York, from $1.5467 yesterday. The currency traded at 166.17 yen, unchanged from yesterday. It touched 167.14 on June 9, the highest level since November. The dollar dropped 0.3 percent to 107.17 yen, from 107.44 yesterday.

The dollar surged 2 percent against the euro on June 9-10, breaking above its 90-day moving average on the U.S. dollar index traded on ICE futures in New York, a sign of an excessive move. The last time the index traded above that average, on June 3-4, the dollar fell more than 2 percent against the euro over the next two days.

The euro has ``come down very hard,'' said Shaun Osborne, chief currency strategist at TD Securities Inc. in Toronto. ``We do require a bit of consolidation, and that is giving the euro a break.''

Outlook for Yen

Bank of America Corp. lowered its forecast for the yen because the Bank of Japan will probably maintain a neutral stance on interest rates while U.S. and European policy makers signal increases.

The yen is likely to weaken as stock-market gains show investors' risk appetite is improving, said Tomoko Fujii, head of economics and strategy for Japan at the bank, the second- largest in the U.S. The yen will fall to 108 per dollar by Sept. 30, according to Bank of America. The previous forecast was 105.

Stark damped speculation of a series of interest-rate increases, saying in an interview yesterday in Chatham, Massachusetts, that policy makers have signaled only that they may raise borrowing costs in July. He and Federal Reserve Vice Chairman Donald Kohn are speaking today at a conference on inflation in Chatham.

The euro rose last week the most against the dollar since late March after ECB President Jean-Claude Trichet said policy makers may increase the 4 percent main refinancing rate by a quarter-percentage point next month to curb inflation, which is running at the fastest pace in 16 years.

ECB Commentary

``Increasingly hawkish commentary from the ECB has reached its zenith, and that has led to a final leg of euro strength,'' said Michael Metcalfe, London-based head of macro strategy at State Street Global Markets, which has $14 trillion under management. Metcalfe recommends investors stay ``neutral'' on the euro versus the dollar before this weekend's Group of Eight meeting in Osaka, Japan.

Futures on the Chicago Board of Trade showed a 48 percent chance the Fed will raise its 2 percent target rate for overnight lending between banks by at least a quarter-percentage point at its Aug. 5 meeting, compared with 58 percent odds yesterday. The dollar has fallen 9.7 percent against the euro and 7.6 percent versus the yen since Sept. 18, when the Fed began to lower the target rate from 5.25 percent.

The Fed will release its Beige Book report, a survey of regional economic performance, at 2 p.m. in Washington today. Nine of 12 Fed districts said conditions weakened in the April 16 report.

``It's possible for the Beige Book to confirm that there's still weakness in housing and employment in some parts of the U.S.,'' said Takuma Kurosawa, global markets treasurer in Tokyo at HSBC Bank, a unit of Europe's biggest lender. ``Given the dramatic shift in U.S. currency policy in favor of a strong dollar, the Beige Book may not do much to unsettle the dollar.''

Dollar Rises ; Bernanke Sees Less Economic Risk

2008-06-11T12:36:00.000+08:00

Dollar Rises Versus Yen, Euro; Bernanke Sees Less Economic Risk

June 10 (Bloomberg) -- The dollar rose to a three-month high against the yen and climbed versus the euro after Federal Reserve Chairman Ben S. Bernanke said economic risks have faded, spurring traders to boost wagers interest rates will rise.

Bernanke said late yesterday that the central bank will ``strongly resist'' any waning of public confidence in stable prices. ``Strong'' economic fundamentals will translate to dollar strength, Treasury Secretary Henry Paulson said today in a Bloomberg Television interview in Washington.

``The Fed and the Treasury have signaled what they want: a stronger dollar,'' said Jeff Gladstein, global head of foreign- exchange trading at AIG Financial Products in Wilton, Connecticut. ``There's potential for dollar appreciation.''

The dollar rose to 107.14 yen, the highest since Feb. 27, at 10:29 a.m. in New York, from 106.31 yesterday. Against the euro, the dollar climbed to $1.5509, from $1.5646. Japan's currency traded at 165.88 per euro from 166.33 yesterday.

Futures on the Chicago Board of Trade show a 55 percent chance the Fed will raise its 2 percent target rate for overnight lending between banks by at least a quarter point at its Aug. 5 meeting, compared with 9 percent the previous day. The contracts show a 95 percent chance the Fed will increase the rate by December, up from 67 percent odds a week ago.

The dollar has fallen 11 percent against the euro and 7.2 percent versus the yen since September, when the Fed began to lower borrowing costs from 5.25 percent.

Central Bank Focus

Canada's dollar gained as the Bank of Canada unexpectedly kept interest rates unchanged at 3 percent because energy prices may push inflation past the top of its target band later this year. The loonie strengthened to C$1.0204 per U.S. dollar from C$1.0233 yesterday after touching 1.0323 before the rate announcement, the lowest in more than two months.

``The focus of the Fed and now the Bank of Canada has gone from preventing a second depression to all of a sudden inflation is an issue,'' said Win Thin, a currency strategist with Brown Brothers Harriman & Co. in New York. ``That's good for the dollar.''

The U.S. dollar climbed to 94.59 cents per Australian dollar, the highest since May 16, before trading at 94.75 cents. Against the New Zealand dollar, the U.S. currency gained to 75.49 cents, near the strongest in a month. The British pound slid to $1.9563 from $1.9751 after data showed U.K. house prices dropped in May.

China Talks

``The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so,'' Bernanke said in a speech at a Boston Fed conference. ``The Federal Open Market Committee will strongly resist an erosion of longer-term inflation expectations.''

The Fed is ``aware'' that the weak dollar boosts inflation, Dallas Fed President Richard Fisher said in response to questions after a speech at the Council on Foreign Relations in New York today.

Paulson repeated comments made yesterday that currency intervention is a tool for policy makers. He also urged China to loosen government controls on energy prices and the value of the country's currency.

The yuan traded near the highest level since a dollar peg was scrapped in 2005. The currency was little changed at 6.9255 per dollar in Shanghai, compared with 6.9230 on June 6, according to the China Foreign Exchange Trade System.

Trade Deficit

A report today showed that the U.S. trade deficit widened in April as the surging cost of oil boosted imports to a record, overshadowing the biggest gain in exports in four years. The gap grew 7.8 percent to $60.9 billion the Commerce Department said.

The Standard & Poor's 500 Index fell 0.7 percent and the two-year U.S. Treasury yields rose 16 basis points to 2.87 percent. The yield advantage of a German two-year bund over a comparable Treasury has narrowed to 1.81 percent from 2.26 percent on June 6.

Finance ministers of the Group of Eight industrialized countries may consider joint action to deflate the price of oil and prop up the dollar at their meeting June 13-14 in Japan, said DBS Group Holdings Ltd. in a report to clients.

The last time the major industrialized countries intervened was on Sept. 22, 2000, when they bought the euro after it tumbled 27 percent from its 1999 debut. They last propped up the dollar in 1995, when it sank almost 20 percent in four months against the Japanese yen to a post-World War II low of 79.95 yen.

The greenback dropped 1.4 percent against the euro last week, the most since March, after Trichet said on June 5 that policy makers may raise borrowing costs in July to contain inflation and the U.S. Labor Department reported the next day that the jobless rate increased the most in May in more than two decades.

Crude oil today climbed to $137.98 a barrel in New York. The price more than doubled in the past year.

GBPJPY

2008-06-10T18:59:00.000+08:00

GBPJPY
SHORT position at 209.50
STOP LOSS above 210.50 (-100 pips).
THE TARGETS are 209.16 / 208.80 / 208.40
OP, SL & TP at your own risks

GBPJPY

2008-06-10T14:43:00.001+08:00

GBPJPY
SHORT position at 210.10
STOP LOSS above 211.10 (-100 pips).
THE TARGETS are 209.80 / 209.48 / 209.12
OP, SL & TP at your own risks

GBPJPY SIGNAL

2008-06-08T10:09:00.003+08:00

Forex News - The US Dollar

2008-06-07T18:54:00.002+08:00

Weak Dollar: Advantages

•It's easier for U.S. companies to export goods because foreign currencies can buy "more" against the weaker dollar.
•Tourism increases because foreign visitors find it less expensive to visit.
•To an extent, foreigners will view U.S. investment opportunities more favorably because they can buy more for their yuan/yen/euro/pound, etc.

Weak Dollar: Disadvantages

•Consumers see higher prices. We don't notice this because the Chinese yuan is tied to the dollar in a tight range. And most of our imports come from China.
•There are higher interest rates, i.e., higher cost of money to consumers.
•It's more expensive to travel abroad.

Strong Dollar: Advantages

•The prices for imported goods are lower.
•U.S. investors can buy foreign assets and investments at lower prices.

Strong Dollar: Disadvantages

•It's harder for U.S. companies to compete abroad.
•It's more expensive for foreigners to visit the U.S.

Forex News - Jobless Rate Increase: Dollar Falls

2008-06-07T11:32:00.002+08:00

Dollar Falls to One-Week Low Versus Euro as Jobless Rate Rises

June 6 (Bloomberg) -- The dollar fell to a one-week low against the euro after a government report showed the U.S. unemployment rate increased the most in more than two decades, adding to evidence the economy may not be rebounding.

The currency dropped on increased speculation the Federal Reserve may refrain from raising borrowing costs this year.

Forex Signals - NON FARM PAYROLL

2008-06-06T18:20:00.001+08:00

U.S. Non-Farm Payroll.
USDJPY
Expected : (-60K ).
Buy : If ( -10K or > ), for 50 pips.
Sell : If ( -100K or > ), for 50 pips.

NON FARM PAYROLL

2008-06-06T07:54:00.000+08:00

NON FARM PAYROLL REPORT
Read it at www.masterforexmalaysia.blogspot.com

BOE Holds Interest Rate at 5 Percent

2008-06-06T07:36:00.000+08:00

U.K. Pound Falls Versus Euro as BOE Holds Key Rate at 5 Percent

June 5 (Bloomberg) -- The pound fell against the euro after accelerating inflation prevented the Bank of England from cutting interest rates to support the economy.

The Monetary Policy Committee, led by Governor Mervyn King, held its main rate at 5 percent today as forecast in a Bloomberg News survey, even after the country's biggest mortgage lender said house prices dropped the most in 15 years in May. It extended losses versus the euro as European Central Bank President Jean-Claude Trichet suggested borrowing costs may be lifted next month to quell price growth.

``Sterling has gone to hell in a handbag,'' David Bloom, London-based global head of currency strategy at HSBC Plc, Europe's biggest bank by market value, said in a Bloomberg Television interview. ``Sell it against anything that you have. Sell it across the board. Sterling is going down.''

The pound dropped to 79.54 pence per euro, the lowest level since May 28, and was at 79.47 pence by 3:25 p.m. in London, from 78.94 yesterday. It was also at $1.9552, from $1.9556 yesterday, after slipping to as low as $1.9462.

The U.K. central bank's rate-setting committee didn't publish a statement after today's decision, which was predicted by all 60 economists surveyed by Bloomberg. Policy makers voted 8 to 1 to keep rates on hold at last month's meeting as record-high oil prices and spiraling food costs stoked inflation. Consumer- price growth held above the bank's 2 percent target for the seven months through April, government data show.

Trichet on Rates

The ECB also kept its refinancing rate at 4 percent today, as predicted in a separate Bloomberg survey.

Still, Trichet said in Frankfurt today the region's main rate may be increased next month as risks to price stability in the region ``have increased further.''

U.K. policy makers last cut borrowing costs in April to try and prevent a slowdown in the real-estate market and a credit squeeze from harming the wider economy.

Gilts followed German bunds lower after Trichet's remarks. The yield on the U.K.'s two-year note, most sensitive to the interest-rate outlook, rose 13 basis points to 5.03 percent. The price of the 4.75 percent security due June 2010 fell 0.24, or 2.4 pounds per 1,000-pound ($1,949) face amount, to 99.47. The 10-year gilt yield climbed 8 basis points to 5.04 percent. Yields move inversely to bond prices.

``Gilts are following U.S. Treasuries and German bunds lower,'' said Peter Schaffrik, a fixed-income strategist at Dresdner Kleinwort in London. ``We believe the U.K. economy will slow down enough to bring down price pressures and interest rates. But at the moment inflation remains a key issue.''

`Forced to Cut'

U.K. government debt may reverse its declines on speculation a waning economy will force the central bank to lower borrowing costs later in the year. Economists in a Bloomberg survey predict the central bank will cut its benchmark rate to 4.50 percent by the end of this year.

``We still have a preference for shorter-dated gilts,'' said David Scammell, a money manager in London at Schroders Investment Management Ltd. which has about $19.5 billion in assets. ``We think the Bank of England will be forced to cut rates'' in 2008, he said.

HBOS Plc said today the cost of an average home slipped 3.8 percent from a year earlier, the most since April 1993. Shares in Bradford & Bingley Plc, the U.K.'s biggest home-loan provider to landlords, fell the most since the bank went public in 2000 on June 2 after it reported rising loan arrears.

Inflation `Worries'

``Everything is coming together at the wrong time for the pound,'' said Geoffrey Yu, a Zurich-based currency strategist at UBS AG, Switzerland's largest lender, who forecasts the currency will drop to $1.88 and 80 pence per euro by the end of June. ``The mortgage market is highly exposed and there are worries about inflation. The U.K. bank may have to stay on hold until the end of the year.''

The pound has fallen against 14 of the 16 most-traded currencies since Dec. 6, when the Bank of England started lowering its main rate, from a 6 1/2-year high of 5.75 percent. It has dropped 10 percent versus the euro and 4 percent against the dollar in that time.

The ECB has held its main rate at a more than six-year high of 4 percent since June, while the Federal Reserve has lowered its target rate for overnight loans between banks seven times since September, to 2 percent.

``Inflation rates have risen significantly since the autumn of last year owing mainly to strong increases in energy and food prices,'' said Trichet at a press conference to explain today's decision.

Expectations for inflation in Europe's second-biggest economy today rose to the highest in 8 1/2 years, according to the spread between the 10-year gilt and its index-linked counterpart. The so-called breakeven rate, a gauge of bond traders' views on whether price-growth will quicken or slow, climbed to 3.75 percent, from 3.48 percent before the Bank of England's last interest-rate announcement on May 8.

GB[JPY @ 207.40

2008-06-05T22:35:00.003+08:00

BUY GBPJPY: TARGET 207.30

2008-06-05T17:17:00.002+08:00

SHORT GBPJPY

2008-06-05T16:22:00.000+08:00

GBPUSD

2008-06-05T16:14:00.001+08:00

GBPUSD
SHORT position at 1.9510
STOP LOSS above 1.9560 (-50 pips).
THE TARGETS are 1.9450/ 1.9400
OP, SL & TP at your own risks

Job Report and ISM push Dollar

2008-06-05T09:38:00.001+08:00

Dollar Firm on Data
by Yan Xu
6/4/2008 4:00:00 PM

The dollar remained firm after a sharp rally yesterday in reaction to Fed Chairman Bernanke's warning on inflation.

The currency extended its gains today as several economic reports came out better than expected. US ADP job report showed 40 jobs were added in private sector in May, beating the estimate of a 30k fall. We are awaiting the non-farm payrolls report from the Labor Department due this Friday to take the pluse of the nation's whole job market.

Other US data released today include the first quarter productivity, which rose 2.6% versus the estimate of 2.5%, and May non-manufacturing ISM, which came out at 51.7 above the estimate of 51.0.

GBPJPY . GBPUSD

2008-06-04T12:20:00.003+08:00