forex enterprise

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BSE Picks Up 15% in United Stock Exchange

The Bombay Stock Exchange (BSE) has revealed that it has purchased 15% stake in the United Stock Exchange (USE), a new entrant in the currency derivatives space.
The sources said that the company, which is having a paid up capital of Rs 150 crore, will now function as a BSE group company. BSE's investment will be Rs 22.5 crore, a 15% of the paid-up capital.
The sources further added that HDFC, Bank of Baroda, Federal bank, Union Bank of India, Allahabad Bank and Bank of India are existing shareholders of USE.

Investment Dictionary: Forex - FX

The foreign exchange (also known as "forex" or "FX") market is the place where currencies are traded. The overall forex market is the largest, most liquid market in the world with an average traded value that exceeds $1.9 trillion per day and includes all of the currencies in the world.

Investopedia Says:
There is no central marketplace for currency exchange, rather, trade is conducted over-the-counter. The forex market is open 24 hours a day, five days a week, with currencies being traded worldwide among the major financial centers of London, New York, Tokyo, Zürich, Frankfurt, Hong Kong, Singapore, Paris and Sydney - spanning most time zones.

The forex is the largest market in the world in terms of the total cash value traded, and any person, firm, or country may participate in this market.

Related Links: 
Learn how the largest and fastest growing market can work for you. The Forex Market
Find out how this tool magnifies both gains and losses. Forex Leverage: A Double-Edged Sword
Moving from equities to currencies requires you to adjust how you interpret quotes, margin, spreads and rollovers. A Primer On The Forex Market
Before entering this market, you should define what you need from your broker and from your strategy. Getting Started In Forex
We go over the ground rules and available resources needed for this undertaking. Wading Into The Currency Market
Learn the pros and cons of trading forex through these two types of brokers. Trading Through A Market Maker Vs. An ECN
Stocks are not the only securities underlying options--learn how to use FOREX options for profit and hedging. Getting Started In Forex Options
Here we go over a framework from which to build your own personalized but profitable strategy. Devising A Medium-Term Forex Trading System
Find out how these investments can diversify your portfolio. Venturing Into Non-Dollar Currencies

Forex: EUR/USD: Expect a burst higher to 1.4600 or, eventually, 1.5000 - Mizuho

FXstreet.com (Barcelona) - The Euro has been trading in a tiny range from 1.4370 to 1.4400 after it rally from 1.4100 was capped at 1.4445 year high, however, according to Nicole Elliott, technical analyst at Mizuho Corporate Bank, the Euro could explore higher levels before the end of the week.Elliott affirms that the Euro is not overbought and that the pair could burst higher: "Surprisingly the Euro is not overbought so expect another burst higher hopefully by the end of this week."On its way up, the Euro could hit levels around 1.4600 or even 1.5000, says Elliott: "Our measured targets are 1.4600 and eventually the psychological 1.5000."

Forex: GBP/USD: Pound needs a corrective dip to 1.6800 - DailyFX

FXstreet.com (Barcelona) - The Pound has risen to 2009 highs at 1.7000 from levels around 1.6400, to enter on a flat trading range from 1.6900 to 1.7000 and, according to the Daily FX Research Team, the pair could move down before going higher.Sterling is overbought on intra-day studies, says the Daily FX Research Team, and a dip towards 1.6800 is needed: "The overbought intraday studies are the primary catalyst here, with the daily ATR also well exceeded. We will hold the position into to the close and look to reassess. There is definitely the need for a material corrective pullback towards 1.6800 at a minimum over the coming hours."

Forex: GBP/USD: Pound needs a corrective dip to 1.6800 - DailyFX

FXstreet.com (Barcelona) - The Pound has risen to 2009 highs at 1.7000 from levels around 1.6400, to enter on a flat trading range from 1.6900 to 1.7000 and, according to the Daily FX Research Team, the pair could move down before going higher.Sterling is overbought on intra-day studies, says the Daily FX Research Team, and a dip towards 1.6800 is needed: "The overbought intraday studies are the primary catalyst here, with the daily ATR also well exceeded. We will hold the position into to the close and look to reassess. There is definitely the need for a material corrective pullback towards 1.6800 at a minimum over the coming hours."

Forex: AUD/USD: Aussie losses strength after hitting 0.8470 10 mth. high

FXstreet.com (Barcelona) - Australian Dollar rally from Jul 13 low at 0.7700 reached its peak on Tuesday at 0.8470, the highest level since late September, and the pair has remained consolidating at levels above 0.8385 ever since.According to the E-Forex Team, Australian Dollar rally has lost strength, and intra.day momentum turned to negative: "Intra-day momentum is losing strength and became negative, favoring further downside price action towards the first support eyed at .8385 then lower, at .8330 which initially served as resistance."Aas long as potential correction holds above 0.8300, says the E-Forex Team, the pair would be prone to test new highs: "As long as the Aussie dollar holds gains above .8300, short-term momentum will remain intact and a corrective cycle would provide new buying opportunities."

Germany Purchasing Manager Index Services rises to 48.1 in Jul from 45.2 in Jun

FXstreet.com (Barcelona) For more information, read our latest forex news.

EU Purchasing Manager Index Services up to 45.7 in Jul from 44.7 Jul

FXstreet.com (Barcelona) For more information, read our latest forex news.

Euro Zone Services PMI's slightly above forecasts; Euro unchanged

FXstreet.com (Barcelona) - Euro Zone services PMI Index has risen to 45.7 in July from 44.7 in June, somewhat above the 45.6 reading forecasted by market analysts, while German services PMI rose from 45.2 to 48.1 in July.The Euro has not been affected by the improvement in services sector´s Activity, and the pair moves right in the middle of the 1.4370 to 1.4430 range.

DATA SNAP: Euro-Zone Output Decline Eases Further In July

DATA SNAP: Euro-Zone Output Decline Eases Further In July By Nicholas Winning Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The contraction in euro-zone economic output eased more than expected in July to its weakest rate for 11 months, another sign that the severe slump in the 16-nation currency area is bottoming out, data from Markit Economics showed Wednesday. The final reading of the euro-zone composite output index -a closely-watched gauge of economic activity -rose to 47.0 in July from 44.6 in June. Nevertheless, it remained below the neutral 50.0 level, indicating that output has contracted for a 14th consecutive month. A reading below 50 indicates a drop in output while a reading above indicates an expansion. Markit also said the services business activity index rose to a 10-month high of 45.7 in July from 44.7 in June. On Monday it said the purchasing managers' index for the manufacturing sector had recovered to an 11-month high of 46.3 in July from 42.6 in June. Economists were expecting the composite measure to increase to 46.8 in July, in line with the flash estimate, according to a Dow Jones Newswires survey of economists last week. -By Nicholas Winning, Dow Jones Newswires, +44 207 842 9498; nick.winning@dowjones.co -0-
(MORE TO FOLLOW) Dow Jones NewswiresAugust 05, 2009 04:24 ET (08:24 GMT)Copyright 2009 Dow Jones & Company, Inc.

United Kingdom: Purchasing Manager Index Services rise to 53.2 in Jul vs 51.6 in Jun

FXstreet.com (Barcelona) For more information, read our latest forex news.

United Kingdom Manufacturing Production rises 0.4% in Jun; 11.7% down on year

FXstreet.com (Barcelona) For more information, read our latest forex news.

United Kingdom Industrial Production rises 0.5% in jun; -11.1% on year

United Kingdom Industrial Production rises 0.5% in jun; -11.1% on year

DATA SNAP: UK July Services PMI 53.2 Vs 51.6 In June

DATA SNAP: UK July Services PMI 53.2 Vs 51.6 In June
By Ilona Billington
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)--The U.K.'s dominant services sector expanded for the second straight month in July, with the Purchasing Managers Index for the sector rising to a 17-month high. Research group Markit Economics and the Chartered Institute of Purchasing and Supply Wednesday said the services PMI rose to 53.2 in July from 51.6 in June. The size of the increase came as a surprise as economists surveyed by Dow Jones Newswires last week had forecast the PMI would increase to just 52.0. A reading above 50.0 indicates the sector is expanding, while a reading below 50.0 indicates it is contracting. -By Ilona Billington and Nicholas Winning, Dow Jones Newswires; +44 20 7842 9452; ilona.billington@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=py6XKysBWxRFQBX8LswcYA%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresAugust 05, 2009 04:39 ET (08:39 GMT)Copyright 2009 Dow Jones & Company, Inc

FXstreet.com (Barcelona) - UK services sector's activity has expanded in July for second consecutive month, while industrial production posted the lar

CURRENCIES: Dollar Slips Vs. Rivals In Asian Trading By Lisa Twaronite The dollar edged down against major counterparts in Asian trading Wednesday, as investors awaited U.S. employment data. One dollar bought 95.01, down from 95.25 yen in late North American trading on Tuesday. The dollar index (DXY), which tracks the U.S. unit against a trade-weighted basket of six major currencies, was at 77.671, down from 77.720 late Tuesday. "Major currencies remain vulnerable to risk on/off in sympathy of cyclical recovery expectations," said Tomoko Fujii, a rates and currency strategist at Bank of America Securities-Merrill Lynch Japan. "Wednesday's focus should be the U.S. ADP employment survey results, which should offer indications of Friday's official nonfarm payroll jobs data," she said in emailed comments. The euro was buying $1.4404, up from $1.4399 late Tuesday, and the British pound was at $1.6977, up from $1.6932. The Aussie dollar was buying 84.23 U.S. cents, up from 84.15 U.S. cents Tuesday, when the Reserve Bank of Australia kept its policy cash rate steady at 3.0% and abandoned its easing bias. Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=py6XKysBWxRFQBX8LswcYA%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresAugust 05, 2009 04:43 ET (08:43 GMT)Copyright 2009 Dow Jones & Company, Inc.

Forex: GBP/USD: Pound tests 1.7000 after upbeating UK data

FXstreet.com (Barcelona) - UK services sector's activity has expanded in July for second consecutive month, while industrial production posted the largest monthly improvement since October 2007; The Pound rose to test 1.7000 resistance.GBP/USD has risen from levels around 1.6950 before uk manufacturing and services data, to test 1.7000 psychological resistance, reaching an intra-day high at 1.7008, although, so far, the Pound has failed to hold above 1.7000.UK services PMI has risen to 53.2 level in July, from 51.6 in June, the second consecutive month at expansion levels, and the highest level in 17 months.UK manufacturing activity was also brighter than expected. Manufacturing Output rose 0.4% month on month, the largest increase since January 08, and Industrial output increased 0.5% on the month, the largest increase since October 07. Year on year Manufacturing output fell 11.7%, while Industrial production fell 11.1%

Currency Rates Of Coffee Producing, Consuming Countries

Currency Rates Of Coffee Producing, Consuming Countries
LONDON (Dow Jones)--U.S. dollar exchange rates as of 09:45 GMT August 5, compared with 09:18 GMT August 4.

Producers:
05/08/09 (04/08/09) Angolan Kwanza AON 77.805 (77.805) Bolivian Boliviano BOB 7.02 (7.02) Brazil Real BRL 1.8168 (1.825) Burundi Franc BIF 1216.05 (1216.05) *CFA Franc XOF 455.15 (455.15) Colombian Peso COP 2044.5 (2009.5) Costa Rican Colon CRC 585.95 (585.95) Cuban Peso CUP 0 (0) Dominican Republic DOP 36 (36.05) Ecuadorean Sucre ECS 0 (0) El Salvador Colon SVC 8.7475 (8.7475) Ethiopian Birr ETB 11.337 (11.336) Guatemala Quetzal GTQ 8.1415 (8.1415) Guinea Franc GNS 4848.15 (4895.8) Haiti Gourde HTG 40.25 (40.25) Honduras Lempira HNL 18.925 (18.925) Indian Rupee INR 47.625 (47.635) Indonesian Rupiah IDR 9920 (9880) Kenyan Shilling KES 76.25 (76.35) Malawi Kwacha MWK 143.05 (142.05) Mexican Peso MXN 13.145 (13.132) Nicaragua Cordoba NIC 19.8815 (19.872) Papua New Guinea Kina PGK 2.635 (2.6261) Peruvian New Sol PES 2.97337 (2.98628) Philippines Peso PHP 47.835 (47.785) Venezuelan Bolivar VEB 0 (0) Vietnam Dong VND 17815 (17815) Zambian Kwacha ZMK 5075.5 (5075.5) Zimbabwe Dollar ZWD 365.4 (365.4025) CONSUMERS: Danish Krone DKK 5.1749 (5.1728) #Euro EUR 1.4391 (1.4395) Japanese Yen JPY 95.185 (94.835) Norwegian Krone NOK 6.0323 (6.046) Swedish Krona SEK 7.1385 (7.1543) Swiss Franc CHF 1.0626 (1.0612) * = The CFA Franc is the common currency of 14 African countries which are members of the Franc zone: XOF = Benin, Burkina, Ivory Coast, Guinnea Bissau, Mali, Niger, Senegal and Togo under the Central Bank of the West African States. XAF = Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea and Gabon, under the Bank of the Central African States. # = Currencies that are quoted in U.S. dollars per unit of currency. All other currencies are quoted in units of currency per U.S. dollar. Source: OANDA Corp and yahoo.com. -By Caroline Henshaw, Dow Jones Newswires; 4420-7842-9372; caroline.henshaw@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=py6XKysBWxRFQBX8LswcYA%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresAugust 05, 2009 04:46 ET (08:46 GMT)Copyright 2009 Dow Jones & Company, Inc.

GLOBAL MARKETS: European Stocks Flat; Data To Set Direction

EUR/USD (Aug 05 at 09:47 GMT)
1.4392/94 (-0.04%)
H 1.4426 L 1.4365

GLOBAL MARKETS: European Stocks Flat; Data To Set Direction

GLOBAL MARKETS: European Stocks Flat; Data To Set Direction

By Ishaq Siddiqi
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)--European stock markets have floated around the flat-line Wednesday, with investors dissecting the latest corporate results for clues about the extent of the economic recovery. "The market is pausing for breath, awaiting further direction. Traders have taken money off the table but are poised to get back in if the market breaks one way or the other," said Manoj Ladwa, trader at ETX Capital. At 0830 GMT, the Dow Jones Stoxx 600 index was up 0.1% at 228.10, while London's FTSE 100 index was down 0.2% to 4565.51, Frankfurt's DAX index was down 0.4% at 5395.7, and the CAC-40 index in Paris was 0.1% higher at 3482.7. The next few days are likely to be important in terms of giving the market a guide to the next direction, given the key economic data pieces scheduled for release. The U.S. ADP employment data Wednesday at 1215 GMT will offer a gauge at the current state of the U.S. labor market ahead of Friday's key U.S. nonfarm payrolls figure for July . "A less downbeat ADP employment survey could temper profit-taking in stocks ahead of nonfarm payrolls," said Kenneth Broux, market economist at Lloyds Banking Group. Also, Thursday's main economic agenda will be set around the policy meetings by the Bank of England and European Central Bank. "If these (data pieces) are all benign and we continue to get good earnings results then I think the market will continue its upward trend," added Ladwa. And there is no denying that there is value in the market, said Owen Ireland, sales broker at ODL Securities, "but many investors need to be aware that the markets have recovered eerily quickly considering the quagmire we were in less than a year ago." On the corporate front, banking stocks were in vogue again following earnings from France's Societe Generale SA (GLE.FR) and the U.K's Lloyds Banking Group PLC (LYG). Societe Generale returned to profit in the second quarter as revenues almost doubled at its corporate and investment banking unit. But Lloyds Banking Group reported that loan impairments rose more than five-fold in the first six months of the year. Still, shares in Lloyds pushed 5.6% higher, after it said it expected loan impairment charges to come down significantly from GBP13.4 billion in the first half. Shares in Societe Generale shares were 5.1% higher, and the pan-European Dow Jones Stoxx 600 banks index added 0.9%. On Wall Street Tuesday, the Dow Jones Industrial Average increased 33.63 points, or 0.4%, to 9320.19, marking its fourth straight day higher and the Standard & Poor's 500 tacked on 3.02, or 0.3%, to 1005.65. Still, Asian stock markets edged lower Wednesday with investors wary about whether recent upwards momentum can be sustained. Japan's Nikkei 225 closed 1.2% lower, South Korea's Kospi Composite ended down 0.4% and the Hang Seng index in Hong Kong closed 1.4% lower. "Players are worried that markets are becoming increasingly immune to positive cues, while any negative cues may trigger profit-taking," said Investrust CEO Hiroyuki Fukunaga. In foreign exchange markets, investors seemed to continue the previous session's trend of profit taking amid subdued equities, said Ashley Davies at UBS, and "the EUR/USD pair has hugged the $1.4400 level fairly precariously." At 0910 GMT, the euro stood at $1.4387, while sterling stood at $1.6981. The dollar traded at Y95.16. Elsewhere, spot gold was trading at $963.50 per troy ounce, around $2 below its close in New York. The front-month September Nymex crude oil futures contract was also a touch lower as trading entered a lull ahead of data expected to show a growing oil surplus. At 0910 GMT, the contract stood 43 cents lower at $70.99 a barrel on Globex, after settling at $71.42 a barrel, down 16 cents. Analysts expect oil inventories to rise by 500,000 barrels in the week ended July 31, while distillate stocks are seen increasing by 900,000 barrels, according to a Dow Jones Newswires survey, with the data from the U.S. Department of Energy due at 1430 GMT. Meanwhile, European government bonds are marginally weaker Wednesday, steadying after Tuesday's late price sell off following stronger-than-expected U.S. pending home sales data. At 0910 GMT, the September bund contract stood at 121.57, 0.02 higher. -By Ishaq Siddiqi, Dow Jones Newswires; +44-20-7842-9488; ishaq.siddiqi@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=py6XKysBWxRFQBX8LswcYA%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresAugust 05, 2009 05:15 ET (09:15 GMT)Copyright 2009 Dow Jones & Company, Inc.

European stocks mixed; Euro and Pound, rangebound

FXstreet.com (Barcelona) - European markets are mixed at very low levels the first hours of trading on Wednesday, as investors assimilate the latest string of quarterly earnings to make assessments about the pace of economic recovery: Euro and Pound remain floating within tight ranges.Eurostoxx 50 Index remains practically unchanged two hours after the opening bell, while German Dax Index drops 0.27%, and French CAC Index trades 0.27% above its opening level. In the UK, the FTSE Index sheds 0.21%.On the macroeconomic domain, Eurozone and Germany's services sector's activity has continued contracting in July, although at a substantially slower pace than in previous months, while UK services sector's activity grew for its second consecutive time.Following with UK, manufacturing activity rose 0.4% month on month in June, the largest increase since January 08, and Industrial output increased 0.5% on the month, the largest increase since October 07. Year on year Manufacturing output fell 11.7%, while Industrial production fell 11.1%.Euro and Pound remain trading in rangeGBP/USD launched an attack to the 1.7000 resistance level after UK manufacturing and services data was released, although the Pound turne3d down after hitting a fresh intra-day high at 1.7008.EUR/USD remains trading in a range from 1.4370 to 1.4430. The Euro picked up on early European session but turned down at 1.4400 after disappointing EU retail sales data, and trades around 1.4385 at the moment of writing.USD/JPY decline from 95.40 Asian session high find support at 94.87 ahead of the European session opening, and the Dollar rose to levels above 95.00, reaching 95.15 at the time of writing

Polish Labor Minister Sees July Unemployment Rate At 10.8%

Polish Labor Minister Sees July Unemployment Rate At 10.8% WARSAW (Dow Jones)--Poland's unemployment rate rose slightly in July to 10.8% from 10.78% in June, Polish Labor Minister Jolanta Fedak said Wednesday The Central Statistics Office, or GUS, is due to issue official July unemployment data at the end of August.
Labor ministry website: www.mps.gov.pl
-By Marynia Kruk, Dow Jones Newswires; 48-22 447-2430; marynia.kruk@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=py6XKysBWxRFQBX8LswcYA%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresAugust 05, 2009 05:27 ET (09:27 GMT)Copyright 2009 Dow Jones & Company, Inc

UPDATE: Euro-Zone Economic Output Slump Eases Further In July

UPDATE: Euro-Zone Economic Output Slump Eases Further In July (Adds data, Markit and economist comment) By Nicholas Winning Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The contraction in euro-zone economic output eased to its weakest rate for 11 months in July, fueling hopes that the 16-nation currency area could emerge from recession before the end of the year, data from Markit Economics showed Wednesday. The final reading of the euro-zone composite output index -a closely-watched gauge of economic activity -rose to 47.0 in July from 44.6 in June. The headline figure, which combines both the manufacturing and services sectors, remained below the neutral 50.0 level, indicating that output has contracted for a 14th consecutive month. A reading below 50 indicates a drop in output while a reading above indicates an expansion. But it was higher than the flash July reading and the market consensus estimate of 46.8 from a Dow Jones Newswires survey of economists. "This will raise hopes that the euro-zone economy could stabilise in the second half of the year, led by manufacturing, where production recorded only a marginal fall in July," Chris Williamson, chief economist at Markit, said in a statement. "Services continue to lag, however, largely due to weak domestic consumption as employment continued to fall, which will most likely act as a drag on any recovery," added Williamson. Markit said the services business activity index rose to a nine-month high of 45.7 in July from 44.7 in June -beating economists' expectations of 45.6. The purchasing managers' index for the manufacturing sector which recovered to an 11-month high of 46.3 in July from 42.6 in June. "To put this level of the composite PMI into context, it is consistent with gross domestic product contracting by around a quarter of a percentage point quarter-on-quarter on the basis of past relationships," Ken Wattret, an economist at BNP Paribas, said in a note. Euro-zone GDP posted a record 2.5% quarterly contraction between January and March. On an annual basis, GDP fell 4.9% in the first quarter. Germany saw the weakest drop in output of the big four euro nations in July following a record jump in its composite index to its highest rate since September. By contrast, France saw an increased rate of decline in July following four straight months of easing. Euro-zone employment continued to fall, but at the weakest rate since January, Markit said. Manufacturing continued to report a steeper rate of job cuts than in the services sector. Incoming new business posted the smallest deterioration since last August. Rates of decline slowed sharply in Germany and Italy and eased marginally in Spain, but France saw a slight increase in the rate of loss of new business. -By Nicholas Winning, Dow Jones Newswires, +44 207 842 9498; nick.winning@dowjones.co Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=py6XKysBWxRFQBX8LswcYA%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresAugust 05, 2009 05:29 ET (09:29 GMT)Copyright 2009 Dow Jones & Company, Inc

ECB Allots $40.236 B In TAF 7-Day Tender At 1.16%

ECB Allots $40.236 B In TAF 7-Day Tender At 1.16% FRANKFURT -(Dow Jones)- The European Central Bank Wednesday allotted $40.236 billion in funds to the banking system through a seven-day term auction facility. The funds were allotted at a fixed rate of 1.16%. As in previous auctions, the ECB satisfied all bids. There were eight bidders. The tender will be settled Thursday and the funds mature Aug. 13. Web site: http://www.ecb.int -By Geoffrey T. Smith, Dow Jones Newswires; (+49 69) 29725-520; geoffrey.smith@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=py6XKysBWxRFQBX8LswcYA%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresAugust 05, 2009 05:39 ET (09:39 GMT)Copyright 2009 Dow Jones & Company, Inc

EUR/USD Follows Gold South

The EUR/USD has crumbled beneath July 23rd lows and our 1st and 2nd tier uptrend lines. The EUR/USD’s pullback is picking up momentum after German Prelim CPI came in negative (-0.1%) along with mixed data with a negative tint from the U. S., Britain, and Japan. Meanwhile, gold is dropping like a rock, dragging on the EUR/USD due to their negative correlation.

USD / JPY Technical Forex Analysis for Forex Traders

Dr Sivaraman
The pair has consolidated just above the former support level at 94.60. This has created a flag formation. This formation is a continuation pattern indicating further declines, although a push higher is still a possibility.
Support is at 94.50 and a sustained break below would confirm another swing down. Conservative target is 94.20-94.00 with a more aggressive target being 93.80. Strong support is also at 94.00.
Resistance is at 94.90 with a break above likely to erase some of the earlier declines. Further resistance is at 95.20, 95.60 and 95.80.
Forex Analysis by Dr. Sivaraman at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check Forexpros. com

EURO USD Forex Trading Tips and Analysis for Day Traders

After testing the 1.4000 level the pair made a surge to test the highs of the former range at 1.4300. A break above 1.4320 signals another swing higher. Initial resistance is at 1.4340 with targets beyond of 1.4400, 1.4450 and ultimately 1.4600 (not necessarily today).
Support is at 1.4200, 1.4150 and 1.4100.
Forex Analysis by Dr. Sivaraman at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check Forexpros. com

Pound Higher On Barclays, HSBC Earnings And Expansion in Manufacturing, Will BoE Add To QE?

The Pound surged over a 100 pips to as high as 1.6880 after positive earnings from Barclays and HSBC helped add to prevailing optimism. Barclays, U.K.’s second biggest lender, saw profits of 10% while Europe’s largest bank HSBC posted an unexpected profit.
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Rupee trades lower compared to US dollar

The reports of heavy purchase of foreign currency by importers declined Indian Rupee for the first time in four days. The import oriented firms generally make payments in foreign currency to settle month-end payments, thus pushing dollar rates at the month's end.
India pays a huge sum as oil import bill and thus refiners are the largest buyers of US dollars for import bill payouts.
Ravindra Babu, a Mumbai-based foreign-exchange trader with Andhra Bank, said, "With importers' dollar demand strengthening ahead of the month's end, the rupee is expected to keep a weakening bias."

Gold Adds onto Yesterday’s Swift Selloff

Gold is at it again Wednesday, following through on gold’s technical selloff on Tuesday. The precious metal has dropped below the safety of the bottom end of the 7/15-7/20 trading range. Gold continues to drop faster than the Dollar appreciates while crude finally tags along to the downside. The size of gold’s pullback is incredible, and we still haven’t found the driving force. Many analysts are attributing gold’sdecline to the Dollar’s appreciation.

Crude Futures Tumble after Large Inventories and Low DGO

Crude futures have crashed through all of our previous uptrend lines and the psychological $65/bbl level. Both of the data points we highlighted yesterday came in worse than expected, sending crude futures sharply lower. Weekly inventories not only continued their uptrend, but bolted to a surplus of 5.1 mill. vs. a shortage of -1.8 mill. last week.

USD/JPY Climbs to the Psychological 95 Level

The USD/JPY has battled back above our 1st tier uptrend line, and is trading just below our 2nd tier downtrend line as the trend lines approach their inflection point. The USD/JPY’s rise is impressive considering the large declines taking place in gold and the EUR/USD. Investors are paying more attention to the worse than expected retail sales from Japan late Tuesday coupled with relative stability in the S&P futures.

GBP/USD Bounces Between our 1st and 2nd Tier Uptrend Lines

The Cable slipped through our 2nd tier uptrend yesterday as the currency pair followed gold and the EUR/USD lower following negative CBI realized sales data. However, the Pound continued to flex its muscles, and the GBP/USD exerted its relative strength by bouncing off of our 1st tier uptrend line, avoiding an immediate-term protracted selloff like the EUR/USD.

EUR/USD Follows Gold South

The EUR/USD has crumbled beneath July 23rd lows and our 1st and 2nd tier uptrend lines. The EUR/USD’s pullback is picking up momentum after German Prelim CPI came in negative (-0.1%) along with mixed data with a negative tint from the U. S., Britain, and Japan. Meanwhile, gold is dropping like a rock, dragging on the EUR/USD due to their negative correlation.

FastBrokersFX

The EUR/USD has crumbled beneath July 23rd lows and our 1st and 2nd tier uptrend lines. The EUR/USD’s pullback is picking up momentum after German Prelim CPI came in negative (-0.1%) along with mixed data with a negative tint from the U. S., Britain, and Japan. Meanwhile, gold is dropping like a rock, dragging on the EUR/USD due to their negative correlation.