ForexGen Trader: forexgen

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]

Retail Sales, Fraud Case Worsen Auto Bailout Flop

Fri, 12 Dec 2008 23:00:26 GMT

Uncertainty over a bailout of U.S. automakers, and declining U.S. retail sales added new headaches for the world's financial stewards, already overwhelmed by recession, tight credit markets and a debilitated White House.Meanwhile Wall Street was coping with the shock waves of a suspected $50 billion fraud that may rank as one of the biggest ever, Japan weighed a currency intervention, OPEC debated... [read more]

China Releases Plans For Fuel Tax Increases

Fri, 05 Dec 2008 23:43:55 GMT

China releases plans to raise fuel tax rates in exchange for eliminating feesChina's Cabinet on Friday released details of a fuel tax reform that would raise taxes for gasoline and diesel while eliminating other fees for drivers.The plan, scheduled to take effect Jan. 1, would raise the tax on gasoline to 1 yuan (14 cents) per liter (0.26 gallon) from the current 0.2 yuan (3 cents). The tax on... [read more]

Today's Riksbank Rate Announcement

Thu, 04 Dec 2008 23:27:16 GMT

Sweden's Riksbank Meets Ahead of Schedule to Cut 175bp and Shifts Policy Outlook Today's Riksbank rate announcement was moved forward from December 17. The central bank gave no reason for the date change but the move by the Riksbank's suggests that the central bank is eager to cut rates. A potential aggressive cut would coincide with similar moves from the ECB and BoE today. We have revised our... [read more]

Trend of the Day EUR/AUD

Thu, 04 Dec 2008 22:31:15 GMT

EURAUD is coiling in a tight Pennant formation.The European Central Bank (ECB) rate decision could be the catalyst needed to break this pair out of this range and toward new highs. The daily trend remains up and prices are hugging close to the rising daily support trend line. Buying at support with a stop 50 pips below the trend line targeting the next level of resistance occurring at 2.0597 would... [read more]

Trading the European Central Bank's Rate Decision

Thu, 04 Dec 2008 01:45:52 GMT

EUR/USD:The European Central Bank is widely expected to lower the benchmark interest rate by 50bp to 2.75% from 3.25% as price pressures alleviate. Falling commodity prices have certainly helped to taper the upside risks for inflation, which should allow the central bank to ease policy further as they carry out their one and only mandate to ensure price stability.Trading the News: European Central... [read more]

European Fundamentals Disappoints Ahead of ECB and BoE Rate Decision

Wed, 03 Dec 2008 23:56:00 GMT

Deteriorating fundamentals continues to reflect a dour outlook for the euro-region, and may lead the European Central Bank to ease policy throughout the next year as price pressures alleviate. [Fundamental] Headlines• Big Three Seek $34 Billion Aid – Wall Street Journal • Goldman Considers Online Bank – Wall Street Journal • GE expects to miss profits forecast – Financial Times • Merrill... [read more]

Yen Technical Outlook

Wed, 03 Dec 2008 04:06:34 GMT

Staying bearish the USDJPY has proved a wise decision although the decline over the last month has been choppy.As long as price remains below 96 (below the resistance line from early October), bearish potential is significant (below 80). [Why ForexGen] 1. Lowest spreads in the market with 0-1 pip spread in 10 pairs, no commissions, no swaps and instant account Activation. 2. Scandinavian quality... [read more]

British Pound Technical Outlook

Wed, 03 Dec 2008 03:53:35 GMT

The rally from 1.4554 is probably wave 4 of (3) (within a 5 wave decline from 2.1160).Resistance does not begin until 1.60 and there is potential for a move back to 1.67 (38.2% Fibonacci and October 30 high). 1.4554 should remain intact if a larger rally (even if just corrective) has started.[ForexGen Money Manager] An individual who is responsible for the entire financial portfolio of another... [read more]

Swiss Franc Technical Outlook

Wed, 03 Dec 2008 03:32:40 GMT

Higher highs and higher lows since the March low favors bulls longer term.Near term, the decline from the top side of the channel is impulsive and the rally from 1.1828 is corrective. Expect weakness below 1.1828 in the next several weeks.[ForexGen.com] is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely... [read more]