Forex Trading Information

Wednesday, December 17, 2008

forex trading and currencies has become a popular choice for day traders with the introduction of online forex trading platforms and brokers to the internet during the 1990's. the Forex market is by far the most liquid worldwide market and is open 24 hours a day (Mon-Fri) for trading in all time-zones.

Day traders tend to prefer the forex trading for online trading due to its volatile reaction to news, market data, and because of its trending nature. Forex is the simultaneous buying of one currency and selling of another as forex is traded in what is known as "cross pairs" for example GBP/USD (?/$) or EUR/USD (Euro/$).
Brokers will typically quote a price with a spread between the bid and offer, usually of around 3-5 pips, from which you can buy or sell the pair then profit from closing the position with a trade in the opposite direction.

One of the best methods to avoid unnecessary risks is avoid fraud dealer.
Forex is a special trading business with no centralized market. Thus, unlike regulated futures exchanges, there is no central market place for Forex buyers or sellers therefore the price offered by different Forex dealers may vary a lot. When you are trading in Forex market, you are totally relying on the dealer’s integrity for a fair deal.
Further more, you need to select a right Forex dealer to avoid scams. There may be Forex dealers that are not regulated legally and there maybe investment scams, especially on the Internet. Be very careful on who you are dealing with in Forex and always check cautiously on the investment offer.
Stop loss order
Since forex trading became popular there has been an huge influx of forex trading and trading platforms to the web. Finding your way through them all is a daunting task for most newcomers to forex trading. It is always best to open an account with an established broker with a good online trading platform.

The Forex market could move against you. No one can predict with certainty which way exchange rates will go, and the Forex market is volatile. Fluctuations in the foreign exchange rate between the time you place the trade and the time you attempt to liquidate it will affect the price of your Forex contract and the potential profit and losses relating to it. To avoid losing all of your investment capital, you should have a pre-arrangement on your risk profile. A solid risk profile will limit the Forex dealer not to overtake risk that you cannot handle. For example, if you have 100,000 to invest, you can say that you are willing to risk 10,000 of that capital with the potential to gain another 100,000. This can be easily implemented by a fund manager, so your losses can be limited to 10% or 5% of invested capital.

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1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex [demo account] that allows you to test your skills and practice without risking real money.

We consider every client as a special case, a VIP and a partner. A client's profit is our success and a client's loss is a significant call of action for us. Customer care is the heart of our business, we know every client on personal bases as we provide 24/7 customer support.
We keep contact with our clients to ensure that we are on the right track. Leading our client relationship to success is our focus.
Let [ForexGen] prove to you that you have taken the right step by choosing our partnership.

Eaton Revises Fourth Quarter Earnings Guidance

Tuesday, December 16, 2008

Employee Reductions in 2008 Have Totaled 3,400; Further Cost Reductions in Final Stages of Evaluation Net Savings of $125 Million Expected in 2009 from Cost-Reduction Actions

Diversified industrial manufacturer Eaton Corporation (NYSE:ETN - News) today announced revised earnings guidance for the fourth quarter, reflecting the impact of the global economic crisis on its end markets.

“We have experienced recent, dramatic deceleration in global demand in our Automotive, Truck and Hydraulics segments,” said Alexander M. Cutler, Eaton chairman and chief executive officer. “The weakness in these segments has been accentuated by customer decisions to sharply curtail production starting in late November and continuing into December. We have also begun to see weakness in certain markets within our Electrical and Aerospace businesses.

“During the course of 2008, we have reduced our employment by 3,400 employees, in response to the weakening end markets,” said Cutler. “We continue to evaluate a range of additional actions to further align our cost structure to the lower markets. Our current expectation is that these additional actions will be taken very early in 2009. In total, the actions taken in 2008 and our anticipated 2009 actions are expected to generate a net pre-tax benefit of approximately $125 million in 2009.

“In addition, as previously discussed, there will be further savings from ongoing acquisition integration activities that are expected to occur during 2009,” said Cutler. “We will provide more detailed information on the cost-reduction actions and their benefits at the time of our conference call in January to discuss fourth quarter earnings and our guidance for 2009.”

When announcing its third quarter earnings in mid-October, Eaton had expected its end markets in the fourth quarter to be flat with the prior year. That market expectation was partly based on an expectation that GDP in the United States would decline by 2 percent in the fourth quarter, with a smaller decline expected for GDP in the European Union. Recent economic events now suggest that GDP in the U.S. and the European Union will experience much greater declines. These declines in output have impacted Eaton’s markets, such that Eaton now anticipates its end markets in the fourth quarter to decline by between 3 and 4 percent.

As a result, Eaton now anticipates its net income per share for the fourth quarter will be between $.90 and $1.00, with operating earnings per share, which exclude charges to integrate its recent acquisitions, to be between $1.00 and $1.10. For the full year, the new fourth quarter guidance would result in net income per share of between $6.44 and $6.54, and operating earnings per share of between $6.75 and $6.85, both sets of numbers being approximately even with the earnings per share achieved in 2007.

“We expect weak global economic conditions to persist throughout 2009, with GDP in the United States likely to decline by between 2 and 3 percent and GDP in the European Union likely to decline by between 1 and 2 percent,” said Cutler. “We also expect GDP growth in emerging economies to be approximately 3 percentage points lower than in recent years, reflecting the impact of lower demand from the United States and Europe.”

In light of this economic outlook, Eaton’s end markets are expected to face reduced demand. While Eaton is still evaluating the full impact, its present view is that its overall end markets in 2009, as measured in local currencies, are likely to decline by approximately 7 percent.

In addition, revenue in 2009 will be impacted by the decline in most currencies against the dollar. At this point, Eaton believes the reduction in non-U.S. currencies is likely to reduce revenues on the order of between 5 and 6 percent, compared to 2008.

“Largely offsetting the decline in revenues from foreign exchange will be additional revenues from the full year impact of acquisitions completed in 2008 and our demonstrated ability to grow more quickly than our end markets -- a key indicator of the strength of our power management portfolio of products and services,” said Cutler.

Eaton Corporation is a diversified power management company with 2007 sales of $13 billion. Eaton is a global technology leader in electrical systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. Eaton has approximately 80,000 employees and sells products to customers in more than 150 countries. For more information, visit www.eaton.com.

This news release contains forward-looking statements concerning the fourth quarter 2008 and full year 2008 net income per share and operating earnings per share; the performance of our worldwide markets in 2008 and 2009; sales for the fourth quarter of 2008; the impact of certain worldwide events and trends on revenue for 2009; and the expected pre-tax benefits for 2009 of certain actions taken in 2008 and expected to be taken in early 2009. These statements should be used with caution and are subject to various risks and uncertainties, many of which are outside the company’s control. The following factors could cause actual results to differ materially from those in the forward-looking statements: unanticipated changes in the markets for the company’s business segments; unanticipated downturns in business relationships with customers or their purchases from us; competitive pressures on sales and pricing; increases in the cost of material, energy and other production costs, or unexpected costs that cannot be recouped in product pricing; the introduction of competing technologies; unexpected technical or marketing difficulties; unexpected claims, charges, litigation or dispute resolutions; the impact of acquisitions, divestitures, and joint ventures; new laws and governmental regulations; interest rate changes; stock market fluctuations; and unanticipated deterioration of economic and financial conditions in the United States and around the world. We do not assume any obligation to update these forward-looking statements.


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U.S. Treasury Capital Purchase Program Approval

Monday, December 15, 2008

Community Trust Bancorp, Inc. Receives Preliminary Approval to Participate in U.S. Treasury Capital Purchase Program

Community Trust Bancorp, Inc. (NASDAQ:CTBI - News) announced today that it has received preliminary approval from the U. S. Department of Treasury to receive additional capital by participating in the Treasury’s Capital Purchase Program. The Treasury’s Capital Purchase Program is a voluntary program designed to help healthy institutions build capital to support the U. S. economy. As a participant in the program, Community Trust could issue up to $68 million in senior preferred shares and warrants to purchase Community Trust common stock in an amount equal to 15% of the senior preferred to the U. S. Treasury. Receipt of the funding is subject to Community Trust’s determination to proceed, acceptance of the terms of the securities purchase agreement and related documents and satisfaction of certain closing conditions.

Community Trust maintains a significantly higher level of capital than required by regulatory authorities to be designated as well-capitalized. On September 30, 2008, Community Trust’s Tier 1 Leverage Ratio of 10.45% was 545 basis points higher than the 5.00% required, Tier 1 Risk-Based Capital Ratio of 13.11% was 711 basis points higher than the required 6.00%, and Total Risk-Based Capital Ratio of 14.36% was 436 basis points higher than the 10.00% regulatory requirement for this designation.

Community Trust Bancorp, Inc. (NASDAQ:CTBI - News) has 71 banking locations across eastern, central, south central, and northeast Kentucky, 6 banking locations in southern West Virginia, and 5 trust offices across Kentucky.

[Why ForexGen]


1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. [ForexGen] offers a free trial [Forex demo account] that allows you to test your skills and practice without risking real money.

We consider every client as a special case, a VIP and a partner. A client's profit is our success and a client's loss is a significant call of action for us. Customer care is the heart of our business, we know every client on personal bases as we provide 24/7 customer support. We keep contact with our clients to ensure that we are on the right track. Leading our client relationship to success is our focus. Let's prove to you that you have taken the right step by choosing our partnership.

North Asian Leaders Team Up to Fight Crisis

Sunday, December 14, 2008

Asian powers Japan, China and South Korea put aside decades of animosity on Saturday and agreed to work together to tackle the global financial crisis battering their economies.
Policy makers worldwide scrambled for new initiatives to stem the fallout from the biggest financial turmoil in 80 years, with the White House weighing emergency funding to avert the collapse of the U.S. auto industry and Europe agreeing on Friday to a 200 billion euro ($268 billion) stimulus plan.
In a further blow to investors, Ecuador said it would slash more than 60 percent off the nominal value of its foreign debt, a day after declaring a default.

In the United States, President-elect Barack Obama named the head of New York's urban housing agency to run the federal housing department -- a key job given the credit crunch's roots in the U.S. mortgage lending market last year.
"To end this economic crisis, we must end the mortgage crisis where it began," Obama said in his weekly radio address.
Obama's team is considering a plan to boost the recession-hit U.S. economy that could be far larger than previous estimates and might reach $1 trillion over two years, the Wall Street Journal reported on Saturday.
Obama has said the plan would include the largest public works program since the 1950s.

ASIAN GIANTS PULLING TOGETHER

China, whose red-hot economy helped fuel the years of global boom before the bust, said meanwhile it faced a host of challenges. It was still aiming for growth of about 8 percent next year, a senior official said.
In the Japanese city of Fukuoka, Chinese Premier Wen Jiabao, Japanese Prime Minister Taro Aso and South Korean President Lee Myung-bak pledged not to create new trade barriers over the next 12 months and backed efforts to bolster a regional web of currency swaps.
At a historic summit, the leaders promised to work more closely together, setting aside decades of rivalry and animosity between the three neighbors.
"Cooperation between ... our three countries to overcome difficulties will have real significance as the financial crisis has a big impact on economies around the world," Wen said.
In Beijing, the chairman of the China Banking Regulatory Commission, Liu Mingkang, said potential problems facing the world's fourth-largest economy included falling prices and, after years of attracting vast sums of offshore funds, capital outflows.

"China's economic and financial situation merits no optimism and Chinese banks will face stern challenges in 2009," he told a financial conference in Beijing.
A slowing pace of expansion, while still the envy of most countries, would endanger social stability in China as it would be hard to create enough jobs for the millions of people moving to cities from farms every year, he said.
Liu said China was headed for deflation after both consumer and producer price rises slowed sharply last month.
Producer inflation, which slumped to 2.0 percent growth in the year to November from a 6.6 percent reading in the previous month, was set to weaken markedly again in December, he said.

OBAMA WANTS HELP FOR HOMEOWNERS

Ecuadorian President Rafael Correa warned bondholders he would offer them much-reduced terms in a coming debt restructuring, saying current terms were immoral and had been paid back "many times" over.
In the United States, Obama said he would nominate Shaun Donovan to be Secretary of Housing and Urban Development (HUD), a department that attempts to make housing affordable for all Americans.
Obama, who takes office on January 20, said one in 10 families who owns a home is now in "some form of distress" and he has charged his economic team with finding new ways to help more families stay in their houses.

Defaults on costly subprime loans began to climb in 2007, hitting the entire U.S. housing market and setting the stage for the global economic slide.
Big concerns about the U.S. auto industry remained after President George W. Bush failed to persuade senators in his own party to support a $14 billion auto bailout on Friday.
The White House said on Saturday it was studying the best way to rescue the auto sector, and an official said no announcement would be made this weekend.
Even without the prospect of an industry-damaging bankruptcy at one of the major U.S. automakers, Japanese peer Toyota Motor Corp was likely to post an operating loss of about $1 billion in the six months to March, Japanese media said.
German magazine Der Spiegel reported that Berlin government experts foresee a 2 percent contraction in Europe's largest economy next year and expect the budget deficit to swell as tax revenues fall and unemployment rises.

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How to Get Started?

People are introduced to the exciting world of foreign exchange in many ways: friends, current events, newspapers, television, and many others. For those of you who are new to forex, the following guidelines cover the basics of currency trading.

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Chart of The Day: EUR/USD

Friday, December 12, 2008

I would not consider this a trend change just yet, but we have been seeing some EUR strength as of late.

I would think that while the USD's recent strength was based on "flight to quality" buying interest as much as any other factor, the EUR is now seeing some of the same interest. The weaker currencies still appear to be the GBP and the CHF which are not part of the Eurozone and are falling as EUR is rising. The current uptrends in the EUR/GBP and the EUR/CHF may continue as long as the financial markets around the world remain on edge.

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US, China Pledge to Jointly Tackle Global Crisis

Friday, December 5, 2008

US, China promise to work together against global crisis, pledge $20 billion to finance trade


The United States and China pledged Friday to work together to tackle global financial turmoil as they wrapped up economic talks but left open whether the high-level dialogue will continue under President-elect Barack Obama.

Ending the fifth meeting of the two-year-old Strategic Economic Dialogue, the two sides promised $20 billion to finance imports by developing countries and cooperation on regulating financial risks. Beijing said it would let local subsidiaries of foreign banks trade stocks in its market and Washington promised to speed up licensing of Chinese banks.

"China and the United States make clear their steadfast determination to jointly face the international financial crisis," the chief Chinese envoy, Vice Premier Wang Qishan, said at a closing ceremony, flanked by U.S. Treasury Secretary Henry Paulson.

The two days of talks were marked by a pointed Chinese appeal to Washington to stabilize its economy and rein in debt-fueled spending that Beijing's central bank chief said Thursday was to blame for the financial crisis. The appeal reflected Beijing's growing assertiveness and its close links with the United States, where it is a major investor in U.S. Treasury debt that finances the government budget deficit.

A key issue for Washington is China's currency controls, and U.S. officials said Beijing promised to continue reforms that have let its yuan rise against the dollar. Washington and other trading partners say the yuan is kept undervalued, giving China's exporters an unfair price advantage and adding to its trade surplus.

Paulson declined to say whether the dialogue might continue after Obama takes office in January but said both sides regard it as a great success.

"China looks forward to continuing candid and pragmatic talks with the new U.S. administration," Wang said.

Obama has yet to say whether he will continue the dialogue, which was begun to address trade issues and mollify American lawmakers who want to punish Beijing over its swollen trade surplus and currency controls. Some analysts say the new president and the Democrat-dominated U.S. Congress might take a harder line on China.

The chairman of the U.S. Senate Finance Committee, Max Baucus, appealed to Obama to continue the dialogue.

"At this time of unpredictability in our world, high-level engagement with China must be a constant," Baucus, a Democrat from Montana, said in a statement.

The American Chamber of Commerce in China issued a similar appeal.

The trade credits will be provided by Chinese and U.S. government export-import banks to finance purchases of goods from the two countries by developing economies where lending has dried up as global turmoil spread. Officials said the $20 billion would support $38 billion in annual trade as short-term loans were repaid and the money lent out again.

"Some of the distortions in credit markets are making it difficult for some developing nations to participate in trade," Paulson said.

Beijing also said it would increase the amount of money local subsidiaries of foreign banks have available for lending by allowing them to obtain loans from affiliates abroad.

That would help to expand the pool of credit to finance a 4 trillion yuan ($586 billion) government stimulus package to shield China from the global downturn by boosting economic growth through extra spending construction and other projects.

China's economic growth is expected to slow this year to about 9 percent, down from last year's 11.9 percent. Communist leaders worry about rising job losses, especially in export industries that have been hit by the global slowdown, and possible unrest.

The two sides also agreed to jointly combat possible pressure for trade protectionism as economic conditions worsen. Paulson said some in China will blame hard times facing its exporters on Beijing's decision to let the yuan rise against the dollar and agitate for that to be reversed.

"I think the Chinese recognize, as we do, how important currency reform will be to rebalancing growth," Paulson said, referring to Beijing's effort to boost domestic consumer spending and reduce reliance on exports.

The yuan has risen 20 percent against the dollar since Beijing cut its peg to the dollar in July 2005. But it has fallen this week in government-controlled trading -- including a nearly 1 percent decline Monday, its biggest one-day drop in three years -- in what analysts suggested was a message from Beijing to go easy on the issue.

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ForexGen News | Euro falls against dollar to $1.2593

Tuesday, December 2, 2008

Euro falls against dollar to $1.2593 as investors expect ECB rate cut


The euro fell against the dollar Tuesday on increasing expectations of steep European rate cuts later this week and as poor economic data from the U.S. prompted investors to move their money from equities into the safety of assets such as U.S. Treasuries.

The 15-nation euro traded at $1.2593 in early European trading, down from the $1.2672 in late New York trading Monday.

The rise came after Monday's sharp drop in American stocks after manufacturing and construction data added to concerns about the holiday shopping season.

The dollar has tended to benefit from falling stock markets as investors seek safety in assets such as dollar-denominated U.S. Treasuries.

At the same time, reports out of Europe and Britain on Monday also revealed the toll the global crisis was taking on their economies.

A leading housing report from Hometrack Ltd. in Britain said home prices fell to their lowest level in nearly three years in November, while a survey of manufacturing activity showed a record pace of contraction in November. In the euro zone, retail sales in Germany fell 1.5 percent in October from the year before.

Both the European Central Bank and the Bank of England are expected to cut their interest rates Thursday this week to support their slumping economies.

While many observers think the ECB will reduce its benchmark rate by half a percentage point to 2.75 percent -- with some thinking it may cut it by three quarters of a point-- the Bank of England is expected by many to lower its rate by a whole percentage point to 2.00 percent, which would be equal to its lowest level since the bank was founded in 1694.

Though lower interest rates can spark a nation's economy, they often weigh on its currency as traders transfer funds to countries where they can earn higher returns.

In other currency trading, the British pound fell to $1.4821 Tuesday from $1.4910, while the dollar bought 92.92 Japanese yen, down from the 93.40 yen it bought late Monday in New York.

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