Despite trading narrowly in NZ/AUS following U.S. holiday on Monday, euro came under renewed selling pressure on Tuesday, the single currency nose-dived to a fresh 4-year low of 1.2110 in European mid-day on fears that recent lingering debt crisis would spread to European banks together with the early selloff in European equities (FTSE, DAX and CAC all once dropped by more than 2%). However, euro staged a strong recovery on active short-covering after the release of a batch of solid U.S. data and rallied to as high as 1.2355 in NY morning. Later, the single currency pared intra-day gain and ended the day at 1.2229.
U.S. construction spending rose by 2.7% in April, much higher than economists' forecast of no change whilst U.S. ISM manufacturing in May was 59.7, also better than the expectation of 59.0.
Earlier, ECB, in its Financial Stability Report, warned that the European banks might face up to 195 billion euros in a potential loan loss over the next 18 months, fueling worries that the European debt crisis might spread from the public to private sector. German Finance Minister Wolfgang Schaeuble hinted that taxes may have to rise to consolidate Germany's finance and may not resonate well with the German populace. In addition, French Economy Minister (FINMIN) Christine Lagarde said on Tuesday 'French exporters appear satisfied with the weaker level of euro as they complained the single currency was too strong when it was at 1.4500 level versus the greenback.'
On economic front, German manufacturing PMI came in at 58.4 whilst unemployment rate eased to 7.7%. Eurozone manufacturing PMI was 55.8 and unemployment rate kept unchanged at 10.1%.
Versus the Japanese yen, the greenback weakened to 90.54 in European mid-day but the pair swiftly rebounded from there and rose sharply to 91.46 in NY mid-day on better-than-expected U.S. data. US stocks went through a volatile day as DJI once scored a modest gain but ended the day down by 1.11% (112 points) at 10024.02.
Cable briefly dropped to 1.4439 in tandem with euro in European morning, however, active cross buying lifted price and the British pound rallied above 1.4600 to as high as 1.4723 on speculation that Prudential would soon announce that it would abandon its takeover bid for AIG's Asian unit. Cross-buying in pound helped cable as euro tumbled below key daily support at 0.8400 and dropped to 0.8323 versus sterling, its weakest since December 2008. Cable later retreated from said high and ended the day at 1.4648. On economic front, U.K. CIPS manufacturing PMI remained unchanged at 58.0 in May, slightly above the 57.8 consensus forecast.
Bank of Canada announced on Tuesday to raise it's overnight interest rate from 0.25% to 0.50% while the Reserve Bank of Australia kept interest rate unchanged at 4.5% as widely expected. BoC suggested modest tightening would be likely in coming months but the RBA stated status quo would be appropriate for the near term. Aud/usd tumbled from 0.8477 to 0.8281 while usd/cad fell from 1.0564 to 1.0421.
Wednesday, June 2, 2010
Forex Executive Review
Can the Forex Executive system really generate accurate Forex signals to make money, or is this just another overhyped and useless currency money making guide? This system employs the main principles that an accurate and safe Forex signals generating service would use, which are actually simple and safe money management techniques combined with accurate technical and fundamental analysis tools.
1. How Do You Make Money With Forex Executive?
Applying these techniques with FX Executive are really easy despite what most people think, yet most traders are not applying these simple principles to safeguard their portfolios. Many traders today are chasing the most complicated trading strategies as well as the automated robots Expert Advisors, when in fact my testing results have shown that simple and effective trading methods are still what work best in the long haul.
2. Should You Get John Simons' Forex Executive Trading Strategy Too?
I must admit that I was very skeptical about what I would find in the FX Executive membership page and felt that he was probably being too harsh about his criticism about trading robots.
However, having read his report and watching the rest of his video presentations, I now see the point that he is trying to bring across. Most traders are actually taking on all the unnecessary risks that he talks about by implementing strategies that they do not really understand or using robots that trade by themselves.
John teaches his clients how to analyze their own trading methods and make corrections if they are exposing themselves to huge risk in their trades. In general, I feel that all traders should at least read the free reports that John is giving away as they have altered my trading style and helped me improve my trading results since.
1. How Do You Make Money With Forex Executive?
Applying these techniques with FX Executive are really easy despite what most people think, yet most traders are not applying these simple principles to safeguard their portfolios. Many traders today are chasing the most complicated trading strategies as well as the automated robots Expert Advisors, when in fact my testing results have shown that simple and effective trading methods are still what work best in the long haul.
2. Should You Get John Simons' Forex Executive Trading Strategy Too?
I must admit that I was very skeptical about what I would find in the FX Executive membership page and felt that he was probably being too harsh about his criticism about trading robots.
However, having read his report and watching the rest of his video presentations, I now see the point that he is trying to bring across. Most traders are actually taking on all the unnecessary risks that he talks about by implementing strategies that they do not really understand or using robots that trade by themselves.
John teaches his clients how to analyze their own trading methods and make corrections if they are exposing themselves to huge risk in their trades. In general, I feel that all traders should at least read the free reports that John is giving away as they have altered my trading style and helped me improve my trading results since.
Making More Money
The best way to boost the amount of money you are making with your Fap turbo robot is by tweaking its settings a little. You might not know this but it is true that changing some few things in your Fap turbo robot can actually allow you to boost its performance and enable you squeeze out more money form your robot. And to learn such settings, you need a Fap turbo settings guide.
It is true that you can always take time to analyze a see what works best. However, this may cause you so much money and time. Rob Casey, the author of this Fap turbo settings guides called the Fap Turbo Expert Guide have done all the testing and experimentation that needs to be done, and have discovered what settings works best for Fap turbo, so all you need to do is join his Fap turbo training course and learn how to become a Fap turbo expert trader.
Hoverer, this course is not for every Fap turbo user! If you think, or is actually making tons of money with your robot, then you probably wont need Rob Casey's Fap turbo expert guide, since this guide only teaches you settings that will enable you make more money - And if you already are making much money, with your robot, then you probably already know what you are doing and do not need some guide to tell you the same thing. However, if you are not making as much money as you thing you should be making with your robot, then Rob Casey's Fap Turbo Setting Guide will be a good read for you.
It is true that you can always take time to analyze a see what works best. However, this may cause you so much money and time. Rob Casey, the author of this Fap turbo settings guides called the Fap Turbo Expert Guide have done all the testing and experimentation that needs to be done, and have discovered what settings works best for Fap turbo, so all you need to do is join his Fap turbo training course and learn how to become a Fap turbo expert trader.
Hoverer, this course is not for every Fap turbo user! If you think, or is actually making tons of money with your robot, then you probably wont need Rob Casey's Fap turbo expert guide, since this guide only teaches you settings that will enable you make more money - And if you already are making much money, with your robot, then you probably already know what you are doing and do not need some guide to tell you the same thing. However, if you are not making as much money as you thing you should be making with your robot, then Rob Casey's Fap Turbo Setting Guide will be a good read for you.
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