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China's Forex reserve tops $1.68 trillion

Bob Reno — Sun, 13 Apr 2008 19:33:00 +0000

Sounds like China intends to become a player in the foreign currency exchange market. Here's an update from the China Daily:

China's foreign exchange reserve reached $1.68 trillion at the end of March, up 39.94 percent from the same period last year, the People's Bank of China (PBOC) announced in Beijing Friday.

A total of 153.9 billion dollars was added to the forex reserve in the first quarter of 2008, an increment of 18.2 billion dollars more than a year ago, said the central bank.

Growth of the forex reserve has been slowing since the beginning of this year, according to Xinhua's calculation.

China's forex reserve rose about 60 billion dollars in January and 57 billion dollars in February.

In March alone, the forex reserve rose 35 billion dollars, 9.7 billion dollars less than the same month of last year.

FOREX-Dollar trims losses on strong import price increase

Bob Reno — Sun, 13 Apr 2008 19:31:00 +0000

The latest Forex news from Reuters:

The dollar trimmed losses against the euro on Friday after an unexpected jump in March import prices pointed to inflationary pressures, which could limit the Federal Reserve ability to continue cutting interest rates.
The euro traded up 0.5 percent at $1.5825 , versus $1.5840 before the report, after scaling a session peak of $1.5855 in overnight trade.

Forex Charting Software Info: MetaTrader 4

Bob Reno — Fri, 11 Apr 2008 19:35:00 +0000

Looking for more information MetaTrader 4? Check out this site:

MetaTrader 4 is an online trading platform designed for financial institutions dealing with Forex, CFD, and Futures markets.
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Currently, over 100 brokerage companies and banks worldwide have chosen our solution to meet their high standards of business performance.

The Power of Your Own Forex Trading Robot System

Bob Reno — Fri, 28 Mar 2008 13:17:00 +0000

The following message is from Marcus Leary "The Lazy Millionaire":

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Professional marketers spent years in tears of frustration till they got the hang of it and eventually started to see results. And they wanted it bad enough.. some probably sacrificed their social lives in the process I don't know about you but I DID NOT want to spend years in exercising patience nor quit watching soap operas on TV or dating chicks ;)
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How to Trade With Forex - The Preparatory Stage

Bob Reno — Wed, 19 Mar 2008 00:07:00 +0000

Before you can take full advantage of a Forex trading robot, you need to learn some of the basics of foreign currency exchange trading. Here's a little prep piece from the Los Angeles Chronicle:

The skill on how to trade with forex is constantly providing various investment and earning opportunities for all traders globally. For beginners or for those who would yet get into the trade, it is important to know basic preparatory guidelines before fully immersing into the investment practice. Beforehand, the investor should be reminded that forex trading is speculative trading, meaning trading could be volatile based on economic performances on the macro and the micro levels.

To begin with, forex trading would be made more effective if you would enter into a pact with a forex trading house or a broker. Forex trades can be connected or revolved around the main business centers around the world, specifically in Tokyo, Sydney, Frankfurt, London and New York. Thus, the geographic locations of the centers make forex trading practically available and accessible on a 24-hour basis.

When you aim to trade forex, it is a necessity that you orient yourself about cross trading, which is a practice of trading money on two different currencies. For example, you might sell your dollars and convert it or use it to buy euros. From euros, you might target buying or conversion to other currencies that might generate profits or significant levels of interest.

FOREX-Dollar falls vs euro on Fed meeting; up vs yen

Bob Reno — Wed, 19 Mar 2008 00:04:00 +0000

The dollar's not looking so good, is it? You could still probably do well with it, using a FOREX trading robot, eh? Here's the latest bad news from Reuters:

The dollar traded near record lows against the euro on Tuesday amid expectations for an aggressive Federal Reserve interest rate cut, while it rebounded versus the yen as stocks rallied and investors' appetite for risk revived.
Markets are pricing in a cut of at least 100 basis points to the Fed's benchmark lending rate from the current 3 percent as the central bank tries to revive the struggling economy. The Federal Reserve's policy-setting panel, which meets on Tuesday, is expected to issue a decision around 2:15 p.m. (1815 GMT).
Expectations of rate cuts deepened after JPMorgan Chase's (JPM.N: Quote, Profile, Research) deal to purchase stricken rival Bear Stearns (BSC.N: Quote, Profile, Aesearch) for a rock-bottom $2 a share and the Fed's emergency step of cutting its discount rate by 25 basis points on Sunday.
The greenback, which sold off on Monday, remained under pressure on Tuesday, although it advanced against the yen as stronger-than-expected results from Goldman Sachs (GS.N: Quote, Profile, Research) and Lehman Brothers (LEH.N: Quote, Profile, Research) eased some investors' concerns about the health of the U.S. financial sector.
Demand for the Japanese yen tends to increase as investors' aversion to risk grows. As U.S. stocks rallied, with investors willing to take on more risk, the dollar recouped some of its Monday's sharp losses versus the low-yielding yen.

Forex - Dollar steady in afternoon Asian trade ahead of Federal Reserve meeting

Bob Reno — Wed, 19 Mar 2008 00:00:00 +0000

What's the latest FOREX news?
Here's the latest from CNN Money:

The dollar was steady against the yen and the euro in afternoon Asian trade on Tuesday as investors stayed on the sidelines ahead of the Federal Reserve meeting later today.

'The dollar will keep consolidating for the time being after its dramatic moves recently,' said David Mann, currency strategist at Standard Chartered Bank. 'There are wide views of what the Fed will do, with estimates ranging from a 50 to 125 basis points rate cut.'
Investors will also be keeping an eye on the earnings results of Goldman Sachs (NYSE:GS) and Lehman Brothers (NYSE:LEH) later today because there is speculation that other investment banks may also announce huge losses due to unpaid home mortgages.

Last week, financial markets were rattled when former Wall Street heavyweight Bear Stearns Cos (NYSE:BSC) collapsed due to the cash crunch, prompting investors to dump the dollar, which fell to historic lows against the euro and to 12-year lows versus the yen in the past few days.

The euro touched a fresh record high of 1.5904 dollars overnight, while the dollar fell to as low as 95.72 yen, its lowest level since August 1995.

At 1.00 pm (0500 GMT), the dollar was trading at 97.12 yen from 97.01 yen in Tokyo this morning. The euro was quoted at 1.5774 dollars from 1.5743 dollars.

'Investors are now waiting for the outcome of quarterly results from US investment banks following the collapse of Bear Stearns to see if there are fresh developments,' NTT Smarttrade director Takashi Kudo said.

The Fed has since September slashed its key rates by a cumulative 225 basis points to restore confidence in the financial markets, ease the credit crunch and help investment banks cope with rising losses from unpaid housing loans.