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Commodity and Futures - Physical commodity and financial futures markets.
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Posted by info@xcelbiz.ws on October 17, 2007, 8:54 am
Currency Trading, the biggest and most exciting market on earth,
offers you countless opportunities!
The Euro-US-Dollar rate is constantly changing, usually in small
movements. Daily fluctuations around 1% are quite common. In Forex
trading, when you invest with a 1:100 "leverage", changes of, say,
1.2% turn to 120%, during a single day, even hours or minutes! You may
profit unlimited amounts, but if the exchange rate moves against your
favor, you lose not more than your initial investment.
last week's currency trading review
The Dollar ongoing speculation of interest rate cuts weighed heavy on
the USD throughout the week, highlighted by minutes of the FOMC
September 18 meeting indicating a unanimous vote for a 50 basis point
cut. The Dollar failed to benefit from positive data releases
throughout the week best seen in Friday's positive reading in retail
sales. Instead Commodities and high yielding carry trades took center
stage. The Euro continued to find support on a hawkish central bank,
and positive Industrial Production data leading up to G7 summit, in
which views that recent strength in the currency would be a key point
of discussion. The Euro closed last week at 1.4175 having opened at
1.4137.
The Japanese held it monthly BoJ rate announcement on Thursday in
which rate were kept on hold following an 8 to 1 vote. The Japanese
Yen was sold off across the board with plenty of market interest in
the carry trade. The Japanese Yen closed last week at 117.48 having
opened at 116.88.
The GBP was scrutinized on revelations of a down turning housing
sector, yet losses were capped with BoE Governor King stating that
central bank was reluctant to reduce borrowing costs in order to
protect lenders exposed in recent market turmoil's. The GBP closed
last week at 2.0343 having opened at 2.0414.
The AUD was boosted by on three accounts, with an ongoing demand for
commodities, a heavy interest in returning to carry trades, and
Thursday labour force data which indicated a 33 year low of
Unemployment at 4.2%. The Aud closed last week at 0.8971 having opened
at 0.8968.
Why not start investing yourself now?
Here's a taste of the thrill now: http://adcurl.com/q06
Pierre Pienaar
info@xcelbiz.ws
Investment Strategies: http://adcurl.com/p30
P.S. Forex trading involves substantial risk of loss, and may not be
suitable for everyone, but you'll get all the help you need. Get your
Free Forex eBook at http://adcurl.com/q06 now.
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