ForexGen Trader

Euro Rises As Economy Shows Signs Of Stabilizing

Mon, 29 Dec 2008 23:12:18 GMT

Euro Rises As Economy Shows Signs Of Stabilizing, Pound Stumbles On Consumer Spending OutlookThe Euro rallied above 1.4250 on comments from German Finance minister Peer Steinbruek and French GDP showing growth in the third quarter. Talking Points • Japanese Yen: Finds Support On Middle East Violence • Pound: Falls On Weakening Consumer Spending Expectations • Euro: Rises As Growth... [read more]

Japan Industrial Output Logs Record Fall

Sun, 28 Dec 2008 22:16:07 GMT

Export-reliant Asian economies showed more signs of weakness on Friday, with Japan's industrial output diving at a record pace and South Korea warning it faces an "unprecedented crisis" as global demand wilts. Even the once unstoppable Chinese economy is feeling the strain, with companies recording a sharp slowdown in profit growth in the first 11 months of the year. On top of Japan's steep... [read more]

Chinese Dairy in Milk Scandal Faces $160M Debt

Fri, 26 Dec 2008 00:08:49 GMT

Chinese dairy, declared bankrupt after tainted milk scandal, faces $160 million in debt he dairy at the center of China's tainted milk scandal has about $160 million in debt, state media reported Thursday, a day after the company confirmed it was bankrupt. Xinhua News Agency said Sanlu Group Co. faces 1.1 billion yuan ($160 million) of net debt and that a branch of the Shijiazhuang City... [read more]

US Personal Spending Contracts for 5th Straight Month

Wed, 24 Dec 2008 21:50:38 GMT

US Personal Spending Contracts for 5th Straight Month as Jobless Claims Hold Near 26-Year Highs The US dollar has edged lower this morning, but for what it's worth, the majors remain range bound amidst low volume trading ahead of the holidays. Focusing on EUR/USD in particular, the pair has been trading within a 200 point range since the start of the week and a 100 point range since Monday... [read more]

Canadian Dollar Technical Outlook

Tue, 23 Dec 2008 23:10:01 GMT

The US dollar has found a base against the Canadian Dollar at the 1.2000 mark, representing the confluence of the USD/CAD’s short-term rising trendline and the 38.2 percent Fibonacci retracement of the 1.0300-1.3020 move.Said level is likely to contain any short-term declines in the USD/CAD, while intraday spike-highs near 1.2400 represent subsequent support. A break below 1.2000 would negate our... [read more]

Euro Momentum Stalled By Record Drop In Industrial New Orders

Mon, 22 Dec 2008 23:09:59 GMT

The Euro pushed back above 1.4100 as the single currency has steadily climbed since Friday’s low of 1.3828 before a record low in industrial new orders reversed gains. October saw demand drop 4.7% after a revised 5.4% decline the month prior, dragging the annualized rate down by a record 15.1%.Talking Points • Japanese Yen: Finds Support at 89.70 • Pound: Losses continue • Euro: Falls... [read more]

Santa Gets Firsthand Look at Consumer Cutbacks

Fri, 19 Dec 2008 00:11:27 GMT

Santa says economic woes evident among holiday shoppers in the most troubled housing marketsRobert Ecker was bored with retirement, so he went back to work as a housing appraiser in Stockton, Calif. He trained four other appraisers during the real estate boom -- all of them are now out of the business."Since the real estate market closed down, I grew a beard and now I'm doing this," said Ecker,... [read more]

Foreign Exchange as a Part of The World Financial Market

Wed, 17 Dec 2008 21:41:00 GMT

Forex – What is it? The international currency market Forex is a special kind of the world financial market. Trader’s purpose on the Forex to get profit as the result of foreign currencies purchase and sale. The exchange rates of all currencies being in the market turnover are permanently changing under the action of the demand and supply alteration. The latter is a strong subject to the influence... [read more]

Dollar Falls Against The Yen in Night Trading

Tue, 16 Dec 2008 21:05:38 GMT

Dollar falls versus the yen in trading late Monday night The dollar slipped against the Japanese yen late Monday night. The greenback fell to 90.48 yen from the 90.60 yen it bought in late afternoon trading.On Friday, the dollar was worth 91.12 yen.[ForexGen White Labels]Forex White Label partnership allows the trader a quick access to the online foreign currency exchange market.ForexGen provides... [read more]

More Challenges Await U.S. Homebuilders

Mon, 15 Dec 2008 21:12:37 GMT

Fitch: More Challenges Await U.S. Homebuilders as Housing Downturn Enters Year 4With the U.S. economy in a severe recession and housing likely to deteriorate more sharply in 2009, U.S. homebuilders are facing even more operational and financial pressures, according to Fitch Ratings, which took rating actions on its public U.S. homebuilder universe of 14 companies late last week, resulting in nine... [read more]