Currency Secrets » Forex News

New Free Forex Economic Calendar

Administrator — Tue, 26 Jul 2005 00:29:50 +0000

Forex Factory have just released an economic calendar that is similar to my favored DailyFX economic calendar.

With DailyFX’s calendar they highlight announcements that are likely to be market movers, but with Forex Factory they grade economic announcements as either having a small, medium or high impact on the markets.

Forex Factory also provides a small snippet of information on each announcement so that you can better understand what the economic release is all about AND they allow you to select your time zone so that you know when the economic announement is going to be released according to YOUR time zone – how neat is that?

I’d have to say that I’m pretty impressed with this economic calendar, and due to the fact that it provides more detailed info than DailyFX I think it takes my number 1 spot for the best free economic calendar available on the internet.

Check it by going to: Forex Factory’s Economic Calendar now.

Tags: Forex News

Week Starting Monday 20 June 2005

Administrator — Mon, 20 Jun 2005 03:07:35 +0000

What do we have on the announcement front this week (so as not to be taken by surprise if anything sudden happens with price)?

Again, I start by looking at DailyFX’s calendar.

Monday doesn’t seem to offer anything that’s too exciting, therefore today I’d be expecting further USD weakness.

Tuesday at 0500 NY EST we have the ZEW survey which seems to indicate a further strengthening of the EURUSD.

Also at 0830 NY EST we have the CAD releasing retail sales. Both reports seemed mixed as one is stronger from the previous month whereas the other weaker from the previous month. From this I can probably only foresee a lot of whipsaw action.

Wednesday looks to be an active day as we have the EUR Trade Balance being released, therefore keep an eye out for the figures that are being published at 0500 NY EST. We also have the NZD releasing their current account which looks quite strong in comparison to the previous figure, this is published at 1845 NY EST.

Thursday looks like a dead day… nothing really exciting.

Friday at 0700 NY EST we have the CAD releasing their CPI which looks marginally weaker than last month’s figures, possibly expect some weakness.

And lastly at 0830 NY EST we have the USD releasing their Durable Goods Orders which looked mixed (one looks weaker than the previous month, the other stronger).

The highlight of this week will be New Zealand’s Current Account announcement on Wednesday… stay tuned for our next post on our analysis on the NZDUSD.

From a fundamental view I would likely expect the USD to remain weak throughout the week!

Tags: Forex News, Forex Trading

FX Solutions Currency Challenge

Administrator — Tue, 07 Jun 2005 03:47:08 +0000

FX Solutions have set up a currency challenge where they are giving away US$60,000 during the monthly competition.

The challenge requires you to open up a LIVE account with FXSol and requires you to open it with an initial deposit of no less than US$2,500.

The competition will run from June 10 to July 8 and the breakdown of the prizes are:

US$35,000 first place award
US$10,000 second place award
US$5,000 third place award
Four weekly USD $2,500 awards
TOTAL = $35,000 + $10,000 + $5,000 + (4 x $2,500) = US$60,000

Official rules and an updated leader board will be available at www.currencychallenge.com along with an online registration form.

Tags: Forex News

Latest Currency Trader Magazine Is Out!

Administrator — Fri, 03 Jun 2005 00:58:30 +0000

The latest Currency Trader magazine has just been published.

If you would like to obtain a free copy of the magazine just go to the Currency Trader Mag web site and subscribe. Free subscriptions to their service will expire in Oct 2005 (or whenever they receive 5000 subscribers), so be sure to be quick in getting your free copy by going there now!

Some of my favorite sections in this month’s magazine include:

Page 24-27: Barbara Rockerfeller’s article on spotting sideways trends… very interesting
Page 32-34: Thom Hartle’s article on Bollinger Bands – very interesting strategy using the highs and lows (instead of the closes) for calculating where the bands lay
Page 42-46: Currency Trader Staff – very good article on support and resistance for those new to the scientific art of it all

So, go get your copy today!

Tags: Forex News, Forex Trading

Asian Opens: China Brings Movement Back Into This Sleeping Period

Administrator — Tue, 31 May 2005 02:41:34 +0000

There used to be a time where the Japanese open was hardly ever watched (except amongst those who LIVED in the region).

However, lately there has been some extra volatility during these hours and one has to immediately wonder what has brought about this change.

In one word: China.

Since 18th May 2005 China has publicly announced from the People’s Bank of China that it is now trading the 6 major currency crosses, as well as the USDHKD & EURJPY crosses.

It now seems that the Asian open should no longer be dismissed considering that China is becoming one of the largest and fastest growing economies in the world.

China opens around 2100 NY EST, Japan opens around 2000 NY EST.

Tags: Forex News

What Are The Top Three Foreign Exchange Banks In The World?

Administrator — Mon, 30 May 2005 03:46:12 +0000

I’ve always wondered about who the big three foreign exchange banking firms are, and after perusing through the EuroMoney web site and reading through some of this year’s foreign exchange poll that they conducted it seems I’ve finally been able to answer my own question.

Here’s the top three banking participants along with their market share percentages:

Deutsche Bank – 16%
UBS – 12%
Citigroup – 7.5%

Tags: Forex News

Forex Market Being Centralized??

Administrator — Mon, 30 May 2005 03:22:17 +0000

I personally believe that it will only be a matter of time before the currency markets are centralized on some world-wide exchange, possibly controlled by an international “governmental” organization like the UN or some similar international body.

This could then lead into all exchange traded instruments being listed on the same world-wide exchange!

Who knows.

Talk about fixing the forex market to an equities-style exchange-like system continues with an article published in China’s Business Newspaper The Standard – it makes for an interesting read.

Tags: Forex News

Big Difference In Durable Orders Could Bring Some Further USD Strength

Administrator — Wed, 25 May 2005 07:44:24 +0000

Today we have the release of an announcement that generally has been quite volatile in the past, but over the last 6-9 months hasn’t attracted too much activity.

The reasons for this can clearly be seen in the previous data releases of this announcement: Briefing’s Durable Orders history.

As you can see from the last graph – which plots the Durable Orders releases on a bar chart – the last 10 months have probably only had about 4 large swings.

Today’s announcement could also attract another wild swing with the market’s consensus pointing to a Durable Orders figure of +1.7% (Briefing’s forecast is 1.5%). Considering that last month’s release was -2.3% this will be quite a large swing in favour of the USD strengthening.

I think this announcement should be watched and potentially strangled around support and resistance zones, but I would favour whichever zone reflected a strengthening of the USD.

Tags: Forex News