Dec 17-21, 2007
Open Trades = 8
Floating gain/(loss) = (49.5904%)
PMTFC2 share = 1.2829 unit value
Saturday, December 22, 2007
Sunday, December 16, 2007
To temper peso, BSP may further ease forex rules
MANILA, Philippines--The central bank, Bangko Sentral ng Pilipinas (BSP), may be forced to further ease foreign exchange rules to address the sharp rise of the peso, according to a paper by investment bank DBS.
Exporters and families of overseas Filipino workers (OFWs) -- badly hit by the steep climb of the peso -- have been urging government for so long to temper the strengthening currency.
In its latest assessment of emerging and industrialized economies, DBS noted that the Philippine peso is the strongest Asian currency so far this year, marking a year-to-date appreciation of 19.3 percent. This was far stronger than the average 4-percent appreciation posted by nine other Asian currencies.
For the complete read of this article written by Michelle Remo, click here.
Exporters and families of overseas Filipino workers (OFWs) -- badly hit by the steep climb of the peso -- have been urging government for so long to temper the strengthening currency.
In its latest assessment of emerging and industrialized economies, DBS noted that the Philippine peso is the strongest Asian currency so far this year, marking a year-to-date appreciation of 19.3 percent. This was far stronger than the average 4-percent appreciation posted by nine other Asian currencies.
For the complete read of this article written by Michelle Remo, click here.
Saturday, December 15, 2007
Fed Expected to Cut Rates Again
Faced with a spreading mortgage crisis, the Federal Reserve is expected to cut interest rates for a third time later and hint that even more rate cuts could be forthcoming.
Fed Chairman Ben Bernanke has clearly signaled this outcome in a speech last month in which he said that the latest bout of financial market turbulence raised greater risks for the economy.
Most economists are expecting a quarter-point cut in the federal funds rate at Tuesday's meeting, which will be the Fed's last rate-setting discussion this year. That would push the federal funds rate down 4.25 percent and send bank's prime lending rate, the benchmark for millions of consumer and business loans, down to 7.25 percent, the lowest level in two years.
The Fed started cutting rates in September with a bolder-than-expected half-point move and then reduced the funds rate by a quarter-point at its Oct. 31 meeting. The central bank was trying to make sure that a severe slump in housing, spreading mortgage defaults and financial market turbulence which hit with force in August did not derail the economy.
In its October announcement, the Fed indicated that its two rate cuts might well be all that would be needed to make sure the country was not pushed into a recession.
But that view has undergone a dramatic about-face in the six weeks since that time, reflecting worsening conditions in financial markets and continued sharp declines in housing as lenders tighten standards in response to rising mortgage defaults.
Many analysts believe the current quarter and the early part of next year will represent the period of maximum danger for a possible recession.
"I think a full blown recession can be avoided but just barely," said David Jones, chief economist at DMJ Advisors. He predicted that the Fed will follow up its expected December rate cut with three more reductions at its first three meetings of 2008.
For all of 2008, a forecasting panel of the Securities Industry and Financial Market Markets Association said Monday it believed overall economic growth, as measured by the gross domestic product, would come in at an anemic 2.1 percent as housing construction and sales continue to fall for most of the year. That would be the weakest GDP growth in six years.
http://truenorth-forex.blogspot.com/
Fed Chairman Ben Bernanke has clearly signaled this outcome in a speech last month in which he said that the latest bout of financial market turbulence raised greater risks for the economy.
Most economists are expecting a quarter-point cut in the federal funds rate at Tuesday's meeting, which will be the Fed's last rate-setting discussion this year. That would push the federal funds rate down 4.25 percent and send bank's prime lending rate, the benchmark for millions of consumer and business loans, down to 7.25 percent, the lowest level in two years.
The Fed started cutting rates in September with a bolder-than-expected half-point move and then reduced the funds rate by a quarter-point at its Oct. 31 meeting. The central bank was trying to make sure that a severe slump in housing, spreading mortgage defaults and financial market turbulence which hit with force in August did not derail the economy.
In its October announcement, the Fed indicated that its two rate cuts might well be all that would be needed to make sure the country was not pushed into a recession.
But that view has undergone a dramatic about-face in the six weeks since that time, reflecting worsening conditions in financial markets and continued sharp declines in housing as lenders tighten standards in response to rising mortgage defaults.
Many analysts believe the current quarter and the early part of next year will represent the period of maximum danger for a possible recession.
"I think a full blown recession can be avoided but just barely," said David Jones, chief economist at DMJ Advisors. He predicted that the Fed will follow up its expected December rate cut with three more reductions at its first three meetings of 2008.
For all of 2008, a forecasting panel of the Securities Industry and Financial Market Markets Association said Monday it believed overall economic growth, as measured by the gross domestic product, would come in at an anemic 2.1 percent as housing construction and sales continue to fall for most of the year. That would be the weakest GDP growth in six years.
http://truenorth-forex.blogspot.com/
Dec 10 - 14, 2007
Dec 10 - 14, 2007
Open Trades = 8
Floating gain/(loss) = (38.6939%)
PMTFC2 share = 1.2829 unit value
.
Open Trades = 8
Floating gain/(loss) = (38.6939%)
PMTFC2 share = 1.2829 unit value
.
Wednesday, December 12, 2007
Fear the Forex Market
If you have to catch something that's going around, do whatever you can to make sure it's not the forex trading bug.
Although the offers of easy riches from swapping currencies might be tempting, the vast majority of investors would do well to resist the lure. Not only is this market supremely risky, but there are other, better ways to achieve the same investment goals.
That's not readily apparent to everyone, especially given the feeble performance of the U.S. dollar, which is down around 30% against the euro over the past five years. That has made betting against the greenback look like an appetizing one-way bet.
For the complete article written by By Simon Constable of TheStreet.com Staff Reporter, click here.
Although the offers of easy riches from swapping currencies might be tempting, the vast majority of investors would do well to resist the lure. Not only is this market supremely risky, but there are other, better ways to achieve the same investment goals.
That's not readily apparent to everyone, especially given the feeble performance of the U.S. dollar, which is down around 30% against the euro over the past five years. That has made betting against the greenback look like an appetizing one-way bet.
For the complete article written by By Simon Constable of TheStreet.com Staff Reporter, click here.
Monday, December 10, 2007
Crosses Technical Analysis
GBP/JPY
The Pound dropped further yesterday against the Yen, as the pair is still showing a downside potential on the short term, though the medium to long term trends remain well to the upside, and the long term target is set to be at the 230.20s level, while the point at 223.90 seems to offer good demand for the pair.
EUR/JPY
The Euro settled against the Yen yesterday, as the pair is yet to gather some momentum that will take it to he upside to progress its upside general trend, targets now are set to be at the 164 level, while the point at 161.89 seems to offer good demand for the pair.
EUR/GBP
The Euro continued to incline against the Pound yesterday, as the pair breached the 0.7200 level again and the short term indicators are still showing more room for an upside wave, the general trend remains well to the upside, and the first target is set to be at the 0.7250s level, while the point at 0.7195 seems to offer good demand for the pair.
http://forexvillage.blogspot.com/
The Pound dropped further yesterday against the Yen, as the pair is still showing a downside potential on the short term, though the medium to long term trends remain well to the upside, and the long term target is set to be at the 230.20s level, while the point at 223.90 seems to offer good demand for the pair.
EUR/JPY
The Euro settled against the Yen yesterday, as the pair is yet to gather some momentum that will take it to he upside to progress its upside general trend, targets now are set to be at the 164 level, while the point at 161.89 seems to offer good demand for the pair.
EUR/GBP
The Euro continued to incline against the Pound yesterday, as the pair breached the 0.7200 level again and the short term indicators are still showing more room for an upside wave, the general trend remains well to the upside, and the first target is set to be at the 0.7250s level, while the point at 0.7195 seems to offer good demand for the pair.
http://forexvillage.blogspot.com/
USD Stronger
The Dollar scaled a one-month peak against a basket of currencies on Wednesday as reports showing robust job growth and productivity gains suggested a milder slowdown in the US economy than many had thought.
The surprise jump in the ADP employer services report on private sector employment fanned expectations of an above forecast non-farm payrolls report on Friday, prompting the market to trim back chances of a 0.50% interest rate cut by the Federal Reserve next week. private sector added 189,000 private-sector jobs last month, the ADP report showed, helping to ease some market fears about trouble in global credit markets that had weighed on the greenback in recent sessions.
Data on Friday will likely show that US employers, outside the farming sector, added 75,000 jobs last month. Expectations the Bank of England will lower it’s main lending rate to 5.5%. But ECB is expected to hold at 4%.
http://www.mataf.net/en/forex/forex-dollar-was-stronger-against-major-currencies-after-job-and-productivity-reports/327/
The surprise jump in the ADP employer services report on private sector employment fanned expectations of an above forecast non-farm payrolls report on Friday, prompting the market to trim back chances of a 0.50% interest rate cut by the Federal Reserve next week. private sector added 189,000 private-sector jobs last month, the ADP report showed, helping to ease some market fears about trouble in global credit markets that had weighed on the greenback in recent sessions.
Data on Friday will likely show that US employers, outside the farming sector, added 75,000 jobs last month. Expectations the Bank of England will lower it’s main lending rate to 5.5%. But ECB is expected to hold at 4%.
http://www.mataf.net/en/forex/forex-dollar-was-stronger-against-major-currencies-after-job-and-productivity-reports/327/
Sunday, December 9, 2007
Canada Dismisses Dollar Peg
Unnerved by the tremendous appreciation in its nation’s currency, Canada’s Parliament is officially mulling the possibility of pegging the Loonie to the USD. It’s unclear at what value the two currencies would be linked, perhaps at parity. However, in testifying before Parliament, the future leader of the Bank of Canada argued staunchly against such an exchange rate regime.
Such a relationship, he warned, would cripple Canada’s ability to conduct monetary policy, independent of the US. So long as the Loonie remained fixed to the Dollar, Canada would be forced into mirroring US interest rate movements. Because of several fundamental differences in their respective economies, it seems unlikely that this policy will be implemented.
http://truenorth-forex.blogspot.com/
Such a relationship, he warned, would cripple Canada’s ability to conduct monetary policy, independent of the US. So long as the Loonie remained fixed to the Dollar, Canada would be forced into mirroring US interest rate movements. Because of several fundamental differences in their respective economies, it seems unlikely that this policy will be implemented.
http://truenorth-forex.blogspot.com/
Saturday, December 8, 2007
Lottery Winner
A man rushes into his house and yells to his wife, "Martha, pack up your things. I just won the California lottery!"
Martha replies, "Shall I pack for warm weather or cold?" The man responds, "I don't care. Just so long as you're out of the house by noon!"
More of these jokes here. You can also contribute your own funny stories.
Martha replies, "Shall I pack for warm weather or cold?" The man responds, "I don't care. Just so long as you're out of the house by noon!"
More of these jokes here. You can also contribute your own funny stories.
Interbank FX Honored as Best Foreign Exchange Broker
Salt Lake City – December 7, 2007 –
Interbank FX (IBFX), an online Futures Commission Merchant (FCM), today announced it has been named Best Foreign Exchange Broker at Shares magazine’s 2007 Shares Awards. The winners were announced Thursday, Nov. 29, 2007, at a gala dinner at the Grosvenor House Hotel in London.
“We are indeed grateful to the readers of Shares for recognizing us in this capacity , ” said company president and CEO Todd Crosland. “This prestigious award mirrors our firm dedication to providing the highest level of technology and customer service to our clients, and illustrates the enduring high regard of IBFX’s services among traders throughout the world,”
Readers of Shares magazine—the fastest growing financial title in the UK—nominated their favorite providers in a variety of areas, including stocks, derivatives, online research and information, software, and fund management. IBFX competed against quality contenders CMC Markets, FXCM, GFT Global Markets, Hargreaves Lansdowne and Saxo Bank in its bid to earn top honors at the annual event.
“We believe that our long-term success is closely tied to the success of our customers,” said Crosland. “Our commitment to excellence is by no means static. We strive to exceed our customers’ expectations by continually adding new technological features and dynamic trading tools. We look forward to being a strong contender for the 2008 awards.”
Being honored by Shares as the Best Foreign Exchange Broker is the crowning achievement of a year already marked by several milestones for IBFX. Some of the 2007 highlights include:
• Todd B. Crosland, 2007 Ernst & Young Entrepreneur of the Year winner
• Utah Best of State award winner 2007 (Financial Services)
• UVEF Winner – Top growth company in Utah under 5 years old
• $40 million minority investment from private equity firm Spectrum Equity
• Monthly trading volume in excess of $70 billion
• Current net capital in excess of $30 million (November 30, 2007)
• Unveiling of industry first Platinum reward Interbank FX credit & debit card program
• Introduction of several pioneering customer trading tools, including popular IBFX-PRS—“Pattern Recognition System”
###
About Shares
Since its launch in 1999, Shares magazine has been the fastest growing financial title in the UK. Its achievements have been recognized by three major industry awards — the Association of Circulation Executives’ prize for the best launch of the year in the newstrade, the Periodical Publishers Assocation title for the most successful subscription launch, and the ProShare award for favorite information product among investment club members. Comment and expert analysis from Shares journalists is now available on a daily basis on MoneyAM, a financial Web site aimed at active private investors.
About IBFX
IBFX ( www.interbankfx.com ) is a Futures Commission Merchant (FCM), registered with the Commodity Futures Trading Commission and a member of the National Futures Associ ation (NFA). IBFX has customers in more than 135 countries and offers individual traders, fund managers and institutional customer's proprietary technology and a revolutionary approach to foreign exchange trading. IBFX customers execute directly from a streaming quote feed, not from a dealing desk that trades against its customers, and also offers one of the only automated trading platforms in the world. Customers can program their own algorithms that will automatically enter and exit trades based on their trading strategy. IBFX Wireless provides customers the flexibility to monitor, modify, execute trades and receive alerts anywhere in the world. Through IBFX's partnership with leading worldwide institutions, traders have access to liquidity from 1,000 to 10,000,000 of the base currency with one click execution. Customers can trade micro, mini and standard lots. IBFX is committed to maintaining a high standard of service that en ables customers to focus on trading opportunities in the Forex market while limiting their margin and liquidity risks. Trading in the off-exchange retail foreign currency market is one of the riskiest forms of investing and should only be attempted by experienced traders.
Interbank FX (IBFX), an online Futures Commission Merchant (FCM), today announced it has been named Best Foreign Exchange Broker at Shares magazine’s 2007 Shares Awards. The winners were announced Thursday, Nov. 29, 2007, at a gala dinner at the Grosvenor House Hotel in London.
“We are indeed grateful to the readers of Shares for recognizing us in this capacity , ” said company president and CEO Todd Crosland. “This prestigious award mirrors our firm dedication to providing the highest level of technology and customer service to our clients, and illustrates the enduring high regard of IBFX’s services among traders throughout the world,”
Readers of Shares magazine—the fastest growing financial title in the UK—nominated their favorite providers in a variety of areas, including stocks, derivatives, online research and information, software, and fund management. IBFX competed against quality contenders CMC Markets, FXCM, GFT Global Markets, Hargreaves Lansdowne and Saxo Bank in its bid to earn top honors at the annual event.
“We believe that our long-term success is closely tied to the success of our customers,” said Crosland. “Our commitment to excellence is by no means static. We strive to exceed our customers’ expectations by continually adding new technological features and dynamic trading tools. We look forward to being a strong contender for the 2008 awards.”
Being honored by Shares as the Best Foreign Exchange Broker is the crowning achievement of a year already marked by several milestones for IBFX. Some of the 2007 highlights include:
• Todd B. Crosland, 2007 Ernst & Young Entrepreneur of the Year winner
• Utah Best of State award winner 2007 (Financial Services)
• UVEF Winner – Top growth company in Utah under 5 years old
• $40 million minority investment from private equity firm Spectrum Equity
• Monthly trading volume in excess of $70 billion
• Current net capital in excess of $30 million (November 30, 2007)
• Unveiling of industry first Platinum reward Interbank FX credit & debit card program
• Introduction of several pioneering customer trading tools, including popular IBFX-PRS—“Pattern Recognition System”
###
About Shares
Since its launch in 1999, Shares magazine has been the fastest growing financial title in the UK. Its achievements have been recognized by three major industry awards — the Association of Circulation Executives’ prize for the best launch of the year in the newstrade, the Periodical Publishers Assocation title for the most successful subscription launch, and the ProShare award for favorite information product among investment club members. Comment and expert analysis from Shares journalists is now available on a daily basis on MoneyAM, a financial Web site aimed at active private investors.
About IBFX
IBFX ( www.interbankfx.com ) is a Futures Commission Merchant (FCM), registered with the Commodity Futures Trading Commission and a member of the National Futures Associ ation (NFA). IBFX has customers in more than 135 countries and offers individual traders, fund managers and institutional customer's proprietary technology and a revolutionary approach to foreign exchange trading. IBFX customers execute directly from a streaming quote feed, not from a dealing desk that trades against its customers, and also offers one of the only automated trading platforms in the world. Customers can program their own algorithms that will automatically enter and exit trades based on their trading strategy. IBFX Wireless provides customers the flexibility to monitor, modify, execute trades and receive alerts anywhere in the world. Through IBFX's partnership with leading worldwide institutions, traders have access to liquidity from 1,000 to 10,000,000 of the base currency with one click execution. Customers can trade micro, mini and standard lots. IBFX is committed to maintaining a high standard of service that en ables customers to focus on trading opportunities in the Forex market while limiting their margin and liquidity risks. Trading in the off-exchange retail foreign currency market is one of the riskiest forms of investing and should only be attempted by experienced traders.
Dec 3-7, 2007
Dec 3-7, 2007
Open Trades = 6
Floating gain/(loss) = (39.4532%)
PMTFC2 share = 1.2829 unit value
.
Open Trades = 6
Floating gain/(loss) = (39.4532%)
PMTFC2 share = 1.2829 unit value
.
Thursday, December 6, 2007
The Beauty of Math
1 x 8 + 1 = 9
12 x 8 + 2 = 98
123 x 8 + 3 = 987
1234 x 8 + 4 = 9876
12345 x 8 + 5 = 98765
123456 x 8 + 6 = 987654
1234567 x 8 + 7 = 9876543
12345678 x 8 + 8 = 98765432
123456789 x 8 + 9 = 987654321
1 x 9 + 2 = 11
12 x 9 + 3 = 111
123 x 9 + 4 = 1111
1234 x 9 + 5 = 11111
12345 x 9 + 6 = 111111
123456 x 9 + 7 = 1111111
1234567 x 9 + 8 = 11111111
12345678 x 9 + 9 = 111111111
123456789 x 9 +10= 1111111111
9 x 9 + 7 = 88
98 x 9 + 6 = 888
987 x 9 + 5 = 8888
9876 x 9 + 4 = 88888
98765 x 9 + 3 = 888888
987654 x 9 + 2 = 8888888
9876543 x 9 + 1 = 88888888
98765432 x 9 + 0 = 888888888
12 x 8 + 2 = 98
123 x 8 + 3 = 987
1234 x 8 + 4 = 9876
12345 x 8 + 5 = 98765
123456 x 8 + 6 = 987654
1234567 x 8 + 7 = 9876543
12345678 x 8 + 8 = 98765432
123456789 x 8 + 9 = 987654321
1 x 9 + 2 = 11
12 x 9 + 3 = 111
123 x 9 + 4 = 1111
1234 x 9 + 5 = 11111
12345 x 9 + 6 = 111111
123456 x 9 + 7 = 1111111
1234567 x 9 + 8 = 11111111
12345678 x 9 + 9 = 111111111
123456789 x 9 +10= 1111111111
9 x 9 + 7 = 88
98 x 9 + 6 = 888
987 x 9 + 5 = 8888
9876 x 9 + 4 = 88888
98765 x 9 + 3 = 888888
987654 x 9 + 2 = 8888888
9876543 x 9 + 1 = 88888888
98765432 x 9 + 0 = 888888888
Monday, December 3, 2007
Fed Rate Cut Again Next Month?
In recent speeches, two high-ranking officials from America’s Federal Reserve Bank gave conflicting indications regarding the likelihood of rate cuts next month. Both officials were deliberately ambiguous in their speeches, though one went so far as to rule out a rate cut while the other hinted at its inevitability. Nonetheless, analysts used the speeches to buttress their conclusion that a rate cut is probable. In fact, the futures market has priced in a 94% chance that rates will be cut by 25 basis points at the next meeting, on December 11. Likewise, it seems a rate cut has already been priced into the USD.
Taken from http://www.truenorth-forex.blogspot.com/
Taken from http://www.truenorth-forex.blogspot.com/
Saturday, December 1, 2007
November 26-30, 2007
Open Trades = 6
Floating gain/(loss) = (30.7701%)
Value of share = 1.2711 unit value
.
Floating gain/(loss) = (30.7701%)
Value of share = 1.2711 unit value
.
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