Archive for the 'forex news' Category

FXCM Posted 36.49% Up for their Managed Sentiment Account in 2007

Published on 4 years, 3 months ago in forex news. 5 Comments

And I would say it’s a feat and good result. FXCM managed to post 36.49% up for their sentiments managed accounts for their clients for 2007,

Dear Trader:

FXCM’s Managed Accounts performed spectacularly in 2007.

We outperformed most funds in our category, with top rankings in BarclayHedge, AutumnGold, and IASG.

Sentiment Program: 36.94% gain in 2007*

BarclayHedge: Top 10 Currency, Systematic CTA
Ranked 2nd by Sharpe Ratio

AutumnGold: Ranked 5th for Current Monthly Performance, New Funds, Ranked by YTD Return

These are not hypothetical results; this program has been trading real money throughout 2007.

View Detailed Results | Open an Account

Sentiment Aggressive Program: 64.07% gain in 2007 (program began in July)*

AutumnGold: Ranked 3rd for the year for new funds (funds started after January 2005)
Ranked 3rd for Large Funds

IASG: Ranked 5th for funds with over $10m under management

Both programs are notable for special advantages—a very low minimum investment and no lock-up period.

I still find it funny that a broker firm offers MA because it would completely be a total conflict of interest, but its nice to see people making money out of it.

Greenback Fell on Housing Fears

Published on 4 years, 9 months ago in forex news. 0 Comments

The greenback fell across the board as US housing concerns remains a big problem and it may spread into the broader economy. The euro touched the 1.3850 resistance level versus the dollar before easing back to around 1.3820. The sterling climbed to a fresh 26-year high at 2.0652 against the dollar and then retraced back to 2.0610.

The dollar index fell to a 15-year low of 80.016, near the psychological support at 80. A break of this level may trigger another round of sharp dollar sell-off.

Several manufacturing reports from the Eurozone were mixed and did little to the market. The market will focus on US June existing home sales due 10AM EST tomorrow for more clues on the nation’s housing market conditions. The report is expected to show a -1.8% decline to an annual rate of 5.87 million units, which may weigh on the dollar.

GBPUSD encounters interim resistance at 2.0630, backed by 2.0650 and 2.0680. Subsequent ceilings will emerge at 2.0700, followed by 2.0720 and 2.0750. On the downside, support begins at 2.0580, followed by 2.0550 and 2.0530. Additional floors are eyed at 2.0500, backed by 2.0470 and 2.0450.

EURUSD will face interim resistance at 1.3850, followed by 1.3870 and 1.39. Additional ceilings will emerge at 1.3920, backed by 1.3950. Support starts at 1.38, backed by 1.3780, 1.3750 and 1.3730. Subsequent floors are eyed at 1.37.

Yen Rose vs Dollar

The yen strengthened sharply versus high-yielding currencies due to profit taking in carry trades as US stock market declined today. The dollar fell from above 121 against the dollar to test key level at 120. However, carry trades are still attractive given the fact that Japan is not seen lifting rates from current low level anytime soon while other industrial countries are on the way of raising rates higher further.

USDJPY encounters interim resistance at 120.30, backed by 120.50 and 120.80. Subsequent ceilings will emerge at 121, followed by 121.30 and 121.60. On the downside, support begins at 120 and 119.80, followed by 119.50. Additional floors are eyed at 119.20, backed by 119 and 118.50.

Source: MG Financial Group

Sterling Doubts Will Increase

Published on 4 years, 9 months ago in forex and forex news. 0 Comments

There is an increasing threat that speculative inflows into Sterling will not be supported by the fundamental position which would risk a very sharp Sterling correction weaker.

Sterling pushed to highs just above the 2.06 level against the dollar in early Europe on Monday before consolidating close to 2.0575 later in US trading. The UK currency strengthened to 0.6705 against the Euro as sentiment remained strong and the currency pushed stronger again in Asian trading on Tuesday with a move above the 2.06 level against the dollar.

The latest CBI industrial survey recorded a sharp drop in the orders component to -6 in July from +8 the previous month. There was also a deterioration in the production and export orders components while the pricing evidence was also weaker. The survey will increase fears over damage from Sterling strength.

The UK currency will continue to gain near-term support from a flow of funds into high-yield currencies, especially with momentum plays encouraging further buying support. These flows are likely to be increasingly unstable given that markets are tending to ignore fundamentals.

Source: Investica