ForexGen Trading Currencies: forexgen

Michigan Housing Leaders Call on Congress to Help Main Street

Fri, 19 Dec 2008 01:06:44 GMT

The Michigan housing industry called on Congress today to address the housing crisis that is at the root of the nation’s recession. Bob Filka, CEO of the Michigan Home Builders Association; Jim Haeussler, president of Peters Building Co.; and Tom Barber, president of Barber Construction Inc., urged Congress to enact bold measures that will stimulate the housing market and, in turn, revive the... [read more]

Euro Pushes Higher Ahead of Busy Economic Calendar

Tue, 16 Dec 2008 23:32:22 GMT

Euro Pushes Higher Ahead of Busy Economic Calendar, US Fed Rate Decision (Euro Open)The Euro continued to push higher against the US dollar in overnight trading, breaching beyond the 1.37 level. Japanese service demand unexpectedly rose in October, while minutes from the last RBA reinforced expectations of a likely pause in rate cuts. Forex traders face economic data overkill in European trading... [read more]

Traders Sell Dollars After the Worst Jobs Report in 34 years

Sat, 06 Dec 2008 01:15:59 GMT

Retail traders have become increasingly bearish towards the U.S. dollar after a government report showed that Non-Farm Payrolls fell more than half-a-million jobs in November, the most in 34 years. In fact, according to the FXCM SSI which measures the positioning of thousands of retail traders, the ratio of long to short positions in the EURUSD stands at 1.22 as nearly 55% of traders are long euros... [read more]

European Central Banks Cuts 75bp to 2.50%

Fri, 05 Dec 2008 03:06:32 GMT

European Central Banks Cuts 75bp to 2.50%, Euro-Dollar (EUR/USD) Pushes Above 1.2625The European Central Bank lowered borrowing costs the most in its 10-year history as they cut the benchmark interest rate by 75bp to 2.50% from 3.25% as the economy heads in a recession. The central bank should continue to hold a dovish outlook going forward as price pressures alleviate, which could drag on the... [read more]

BoE Cuts Rates by 100bps As Expected

Fri, 05 Dec 2008 02:47:46 GMT

BoE Cuts Rates by 100bps As Expected But Signal More Action To Come As Credit Conditions Remain Difficult The Bank of England cut their benchmark rate by 100 bps as was expected by economist bringing it to 2.00%. The Pound traded higher on the news reversing earlier losses as traders started to expect a more aggressive move given the dour fundamental data that has recently crossed the wires. Talking... [read more]

Swiss Franc Technical Outlook

Thu, 04 Dec 2008 04:48:25 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]

Canadian Dollar Technical Outlook

Thu, 04 Dec 2008 04:41:40 GMT

The rally from just below 1.15 is in 5 waves and could be a truncated 5th wave.If so, then a correction back to at least 1.15 and possibly lower is underway now. The drop from 1.2993 to 1.2120 is in 5 waves, which is bearish. Price should remain below 1.2993.[ForexGen Customer & Trading Support] ForexGen Customer Service seeks to achieve the highest level of customer satisfaction.[ForexGen... [read more]

Australian, New Zealand Dollars Hold Up Despite RBA Rate Cut

Wed, 03 Dec 2008 08:12:00 GMT

Australian, New Zealand Dollars Hold Up Despite RBA Rate Cut, Japanese Yen Slips as Dow Gains 3.3%The Australian dollar and New Zealand dollar both managed to edge higher on Tuesday despite the Reserve Bank of Australia’s 100bp rate cut on Monday evening to 4.25 percent.While AUD/USD did initially spike lower, indications that the RBA would take a more neutral stance in coming months allowed the... [read more]

Australian Economic Growth Drops to Lowest in 8 Years

Wed, 03 Dec 2008 07:47:51 GMT

Australia’s Gross Domestic Product disappointed expectations, adding 0.1% in the three months through September versus forecasts calling for a 0.2% increase. The annualized result registered as predicted at 1.9%, down from 2.7% in the year through the second quarter. This puts the pace of economic expansion at the slowest in 8 years.The Reserve Bank of Australia moved to slash borrowing costs... [read more]

Dollar Rises Against the Yen in Night Trading

Wed, 03 Dec 2008 07:37:28 GMT

The dollar rose against the Japanese yen late Tuesday night. The greenback gained to 93.43 yen from the 93.22 yen it bought in late afternoon trading.On Monday, the dollar was worth 93.40 yen.[ForexGen Money Manager]An individual who is responsible for the entire financial portfolio of another individual or another entity. A money manager receives payment in exchange for choosing and monitoring... [read more]