I’ve never used this forex broker. If you have experience, please share it below.

I’ve never used this broker. If you have experience, please share it below.

I’ve never used this broker. If you have experience, please share it below.

I’ve never used this forex broker. If you have experience, please share it below.

On Monday the main event at the auctions in Asia became a military incident, when the Republic of Korea Navy conducted a study of fire near the island Yonkhendo whose status is still undefined, and therefore considered to be controversial.

These exercises have caused negative not only its northern neighbor, but also military observers in Japan, China and Russia.

Recall that at an emergency meeting convened on Sunday the UN Security Council, in order to reduce tensions and avoid further conflict, the parties failed to reach agreement on the application.

It should be noted that the absence of any immediate retaliation by North Korea in response to military exercises in South Korea, does not mean that such actions will be taken by the DPRK some time later.

The outcome of these events was the fall of Asian stock markets, as well as the outcome of investors from risky assets. Recall that ienovye cross universally experienced selling pressure. In addition, strong publication from the Land of the Rising Sun have also increased the growth rate of Japanese currency.

Thus, according to these publications, the final value of the composite index of leading indicators in Japan in October, when the preliminary value of 97.2, was 97.7. Whereas the final value of the composite index of coincident indicators in Japan in October, when the preliminary value of 100.7, was 100.8. 

In early European trading statistics from Germany, which had previously supported the bullish mood of the players at this time was not as impressive. So, as published Monday, the index of industrial prices in Germany in November amounted to +0.2% for the month, +4.4% per year, while waiting experts were +0.3% for the month, +4.5% for the year and the previous value was equal to +0.4% MoM, +4.3% per year.

Recall that the last occasion to bullish activity was the news that the EU leaders, in order to prevent the spread of the problem that was born more than a year ago in Greece, in Brussels last week agreed to amend the contract unit to create a permanent mechanism for crisis in 2013 year.

It is noteworthy that the yields on government bonds in the region rose even after it had established a fund worth 750 billion euros, while Greece and Ireland were saved.

Strengthening the global bear sentiment quite objectively reflect the price of "yellow metal", which continues to gradually rise in price of commodity exchanges as there are new sources of geopolitical instability, as well as on news of failed efforts of European countries to control the manifestations of the debt crisis.

So, gold for February jumped in price on Monday directly at 6.90 dollar to a level of 1386.10 dollars per ounce. Most other precious and industrial metals also traded slightly higher.

In this regard, market participants are sufficiently closely followed the release of new report on Monday that the European Central Bank has sharply reduced their purchases of bonds weaker countries, including Greece, Ireland and Portugal.

At the same time, "the flames of" fears of investors re-add the rating agency Moody’s, which this time said that may lower the debt ratings of Spanish banks, which require financial support from the government.

As a result, investors continue to fear that countries such as Greece, Ireland, Portugal and Spain, and then perhaps Belgium and Italy, would have a serious problem of repayment of their debts.

The main event in the Asian session Tuesday was a regular meeting of the Governing Board of the Bank of Japan. Recall that in the end the target range for the basic interest rate on overnight loans was left unchanged at 0.00% -0.10%, with a statement of the Bank of Japan stated that the country’s economic recovery is "at a moderate pace."

It should be noted that the Governor of the Bank of Japan said at a news conference that the recent rise in the dollar / yen, "reflects a more optimistic outlook for investors in the prospects for the U.S. economy."

Recall that the generalized index of industrial production in Japan in October amounted to -0.2%, while the forecast was -0.2% and -0.8% the previous value.

Another factor in the growth of major currencies against the dollar and the yen have become a statement Vice-Premier of China, whereby China is ready to provide concrete assistance to the EU in settling the debt crisis.   

These statements, however, maintained a bullish mood for long. So, this afternoon in Eurocurrency again began to dominate sales. In addition to the euro, under the pressure of sales and was the British sterling.

Recall that the rate of the pound / dollar fell on the European session with the level of 1.5565 to 1.5450, its lowest level since September of this year, while the rate of the pound / Swiss franc fell by 160 points to a new record low of 1.4821.

Note that the pressure on the pound have primarily published in the UK data showing a record increase in the budget deficit.

Recall that the budget deficit in the UK in November amounted to +23.3 billion pounds, while the previous value was only +10.3 billion pounds.

The index of consumer confidence in the UK in December amounted to -21, while experts predicted -22 and the previous value was equal to -21.

It should be said that pressure on the single currency has also had a message that the rating agency Moody’s was considering lowering the credit rating of Portugal. Agency experts have declared that the country’s rating may be lowered by one or two points.

Recall that the rating agency Fitch has said previously that it may downgrade the credit rating of Greece.

In addition, Moody’s has previously stated that it may reduce the rating of the Spanish banks.

In general, it should be noted that on the eve of Christmas and New Year sales activity in the forex market are low, which in turn contributes to a sharp exchange rate fluctuations.

Bidding on Thursday held against the backdrop of an abundance of statistical data. Because of the shortened week, the U.S. and some European countries the publication of macroeconomic indicators have been moved from Friday to Thursday.

On the background of the fact that Japan had a day off, and the financial markets in the country closed for other Asian markets there was a decrease of quotes. Thus, the index of the Hong Kong stock exchange’s Hang Seng (-0.74%) fell 171.20 points, to 22873.99.

At the same time during Asian trading in major currencies, there has been growth, sponsored by the statement made by the Ministry of Foreign Affairs of China that the PRC government intends to support countries in the euro area on their way to overcome the debt crisis.

As a result, the background of rather low activity in the market, the dollar was under pressure against other currencies. Recall that the dollar / yen during trading in Asia, down from the level of 83.56 to 82.84, and the rate of the pound / dollar rose to 1.5388 marks from 1.5433.

The first publication of the eurozone have been statistical data from France, which proved to be quite mixed. Recall that the index of consumer spending in France in November amounted to +2.8% MoM, +1.5% per year, whereas the forecast was +1.0% MoM, -0.4% for the year and the previous value of -0.7% for the month, -0.3 % per year.

Producer Price Index in France in November amounted to +0.4% MoM, +4.5% per year, whereas the forecast was +0.5% MoM, +4.6% for the year and the previous value of +0.8% for the month, +4.3% per year .

Sentiment in favor of selling began to change after it became known that the net UK mortgage lending by banks in November was at its lowest level in 10 years.

The reason for this, experts see a decline in demand for new homes has slowed, which is typical for this time of year, according to the British Bankers’ Association.

In addition, the seasonally adjusted net mortgage lending rose 1.5 billion in October – the smallest increase from 1.3 billion pounds in August 1999, against 1.7 billion in October and 2.8 billion pounds a year earlier.

In general, according to economists, the strict lending criteria and concerns about the increase on such a large debt to the uncertain outlook for the 2011 year, also put pressure on investors.

As a result, the prospects for the housing market continues to remain low, and the number of approved loan applications fell again in November to 29,991, its lowest level since March 2009 and lower than 30,689 in October and 43,893 in November last year.

However, the markets came under the control of bears after Fitch Ratings downgraded the credit rating of Portugal, referring to the debt problems still facing the EU. Recall that this problem in the fiscal area of Portugal were identified as major, when Fitch downgraded the country’s credit rating to A + with a negative outlook.

Publications from the U.S. were quite mixed, which, however, did not prevent the dollar strengthened to a regular two-week high against the single currency, and re-test the two-month highs against the pound.

Recall that the number of sales of new homes in the U.S. in November amounted to 290 thousand, while the forecast was 300 thousand, and the previous value of 283 thousand

The final consumer sentiment index value of the University of Michigan in the U.S. for December 74.5, while economists forecast a 74.5, the previous value of 74.2.

Also recall that the number of applications for unemployment benefits in the U.S. for the week to 18.12, was 420 thousand, while the expected 420 thousand In this previous value was revised from 420 thousand to 423 thousand

Unpleasant surprise the index gave orders for durable goods in the U.S. for November, which, with the forecast -0.6% was -1.3%. In this case, the previous value was revised from -3.3% to -3.1%.

Celebrating Catholic Christmas on Friday resulted in low activity and very small volumes of trades in the currency markets.

Due to the holiday on Friday did not work the U.S. markets, and some European countries, particularly Germany.

At the auctions in Asia, despite the decline in Asian stock exchanges, eurobulls tried to restore the upward trend in the Eurocurrency. Recall that the index on the Tokyo Stock Exchange Nikkei fell 67.29 points (-0.65%) and closed at 10279.19, and the yield on 10-year Japanese government bonds is increased by 1.150 from the previous closing on 0.010.

Recall that the euro / dollar is set at the Asian session near the 1.3130 mark, while the dollar / yen is in the range 82.89-83.13.

At the same time, growth in world oil prices provided some support for courses commodity currencies. Recall that the price of oil in New York reached the mark of 91.50 dollars per barrel, the maximum over the past two years, while the Australian dollar / US dollar has stabilized above $ 1.0000 in the range 1.0019-1.0044.

The focus of attention in the course of trading in the European session proved to be Ireland. Recall that the Supreme Court of Ireland said on Friday that the bank Allied Irish Banks Plc can be taken under government control the country without the approval of its shareholders, thus becoming the fourth bank in the country got under state control since 2008.

Recall that the Irish finance minister Brian Lenihan has been approved by the court to inject into the bank 3.7 billion euros in the period until 31 December and to increase the government stake in the bank from 19% to 92%.

Note that the bank Allied Irish Banks Plc is the largest Irish company by market capitalization in 2007. However, over the 22 months it fell dramatically. So, if in 2007 it cost 21 billion euros, to date, its market value is estimated at 347 million euros.

Negative news from France, offset by the efforts of the bulls, and reinforced the position of the bears. Recall that the number of people in France have been left without work and those who can not find it rose by 0.8% over the month. in November to 2,698,100.

In this case, only in November at 21,300 more people have acquired the status of unemployed and actively seeking work in November, which was the largest monthly increase since the peak of 0,8% growth in May.

These findings debunked the statement of the government of President Nicolas Sarkozy, who last month stated on the improvement of unemployment and continued stabilization of the country’s labor market.

Experts point out that in general the unpopular Sarkozy and his Conservative Party in dire need of improving the situation of unemployment in the near future, as France prepares for new presidential and parliamentary elections in mid-2012.

Continues to recommend buying a couple of dollar / canada dips to the level of parity, opening cautious "Long" is from current levels. We recommend that you hold the position long term in order to 1.0560.

In a couple of dollar / franc buy signal will definitively formed only after overcoming a course mark of 0.9720, after which should be considered a long-term "Long."

Again recall that the long-term growth targets Dollar / Canadian and U.S. dollar / franc mentioned in previous reviews, respectively, 1.0300 and 1.1120, still remain in force

The European currency yesterday after a short-term growth in early Asian trading session, was again in the bearish trend. The reason for this was again credit ratings of countries in the Eurozone.

International agency Moody’s warned that may omit one or two stages of the debt rating of Portugal. Moody’s considers uncertain long-term economic prospects of the euro-zone countries in the light of reducing government budget deficits. During the current crisis, Moody’s action is extremely hard: last week the agency immediately to the five stages downgraded another chronic debtor in Europe – Ireland.

The European Central Bank expressed serious concern catches on which Ireland receives from the EU and the IMF 85 billion euros of financial assistance. The ECB believes that Ireland can rescue the bank’s organic capabilities to assist other countries in the eurozone. This follows a statement by the ECB appears on the website of the organization. Despite the fact that Ireland have provided salutary credit agency Moody’s lowered the credit rating of the euro-zone countries on five stages.

In addition, the credit rating of Greece can be downgraded to "non-investment level," the rating agency Fitch Ratings within 6 weeks after studying the "financial stability" of the country. Evaluation will focus on government measures to decrease the budget deficit, economic prospects and the "political will and ability of the Greek state" pass through all stages of a financial tightening – the statement of the agency. Greece currently has a rating of BBB-assessment agency, which is the lowest rating of investment attractiveness. The agency said it expects completion of the assessment of the situation in Greece in January and there is a clear probability "downgrade. Greece has already been lowered to levels of non-invested by agencies Moody’s Investors Service and Standard & Poor’s. Fitch Ratings will be the last one to lower the level of Greece up to the mark. " Rating Greece the agency Moody’s – Ba1, the S & P – BB +. As stated by the International Monetary Fund on December 17, the Greek "action program continues to operate successfully and approved the release of the next transfer of funds to 2.5 billion euros.

Against this backdrop, the euro said another month low against the dollar. What to expect today?

Today, the main stream news is expected in the United States. The main novelty will be the final data on GDP, analysts forecast data revisions in the U.S. economy upwards. In addition to this expected positive data on the real estate market, so that today the dollar could strengthen further its position.

Financial Analyst Rinat Meshera.

The main event at the auctions in Asia became a military incident, when the Republic of Korea Navy conducted a study of fire near the island Yonkhendo whose status is still undefined, and therefore considered to be controversial.

These exercises have caused negative not only its northern neighbor, but also military observers in Japan, China and Russia.

Recall that at an emergency meeting convened on Sunday the UN Security Council, in order to reduce tensions and avoid further conflict, the parties failed to reach agreement on the application.

It should be noted that the absence of any immediate retaliation by North Korea in response to military exercises in South Korea, does not mean that such actions will be taken by the DPRK some time later.

The outcome of these events was the fall of Asian stock markets, as well as the outcome of investors from risky assets. Recall that ienovye cross universally experienced selling pressure. In addition, strong publication from the Land of the Rising Sun have also increased the growth rate of Japanese currency.

Thus, according to these publications, the final value of the composite index of leading indicators in Japan in October, when the preliminary value of 97.2, was 97.7. Whereas the final value of the composite index of coincident indicators in Japan in October, when the preliminary value of 100.7, was 100.8.

In early European trading statistics from Germany, which had previously supported the bullish mood of the players at this time was not as impressive. So, as published Monday, the index of industrial prices in Germany in November amounted to +0.2% for the month, +4.4% per year, while waiting experts were +0.3% for the month, +4.5% for the year and the previous value was equal to +0.4% MoM, +4.3% per year.

Recall that the last occasion to bullish activity was the news that the EU leaders, in order to prevent the spread of the problem that was born more than a year ago in Greece, in Brussels last week agreed to amend the contract unit to create a permanent mechanism for crisis in 2013 year.

It is noteworthy that the yields on government bonds in the region rose even after it had established a fund worth 750 billion euros, while Greece and Ireland were saved.

Strengthening the global bear sentiment quite objectively reflect the price of "yellow metal", which continues to gradually rise in price of commodity exchanges as there are new sources of geopolitical instability, as well as on news of failed efforts of European countries to control the manifestations of the debt crisis.

So, gold for February jumped on Monday directly at 6.90 dollar to a level of 1386.10 dollars per ounce. Most other precious and industrial metals also traded slightly higher.

In this regard, market participants are sufficiently closely followed the release of new report on Monday that the European Central Bank has sharply reduced their purchases of bonds weaker countries, including Greece, Ireland and Portugal.

At the same time, "the flames of" fears of investors re-add the rating agency Moody’s, which this time said that may lower the debt ratings of Spanish banks, which require financial support from the government.

As a result, investors continue to fear that countries such as Greece, Ireland, Portugal and Spain, and then perhaps Belgium and Italy, would have a serious problem of repayment of their debts.

Again, we recommend to consider the possibility to open the strategic purchases of dollar / Canada at current levels. However, given the high volatility and continued uncertainty in the markets in the remaining days until Christmas, you should still limit short-term purchases.

Thus, the dollar / Canada is necessary to buy dips to 1.0560. Whereas in the dollar / franc should wait for updated November and December the bottom, and then fly to at 0.9800.

Recall that the long-term growth targets of the two pairs mentioned in previous reviews (respectively 1.0300 and 1.1120), yet remain in force

The European currency continued to be under pressure, amid increased fears of investors about the stability of the euro area and the negative economic indicators for the EU.

According to the European Commission on Monday, consumer confidence unexpectedly fell in December after a six-month growth index of consumer confidence calculated by European officials declined to -11 points from -9.4 in November.

Consumer frustration is the unstable situation in the euro zone, analysts note that the gap between the leading countries of the euro area and the small countries more and more increasing, which increases the centrifugal sentiment among their populations.

Since the core of the euro zone – France and Germany are showing signs of recovery after severe recession caused by the global crisis, while the economies of small countries such as Greece, Ireland, Portugal, Spain depressed because of tough measures to curb the budget deficit, organized by the Government of these countries under pressure from the European Union.

Latest official data show that the average unemployment rate in the euro zone reached 12 year high – 10,1% in October. However, the average unemployment rate smooths out the extremes of the countries of Europe as the minimum and maximum, so in Germany the unemployment rate is 6.7%, while in Portugal is 11%, 14% in Ireland and in Spain rose past 20%.

The Organization for Economic Cooperation and Development, believes that next year Spain threatens a new budget crisis. Madrid went on to a sharp reduction in government spending to the end of 2011 to reduce the budget deficit from the current nearly 12%% of GDP to 6% of GDP. But the OECD warned in its report, the deficit will grow, especially if economic growth does not make it to the Government’s planned 1.3%.

In addition, traditionally in surplus balance in the whole of the EU between exports and imports for the first time this year showed the inverse proportion – the balance of trade between the countries major trading partners of the euro area showed a deficit of 1.9 billion euros.

In addition, negative investor sentiment being whipped, and in connection with events in the Far East, the conflict between North and South Korea, the increasing tension between these two countries is increasing demand for foreign currency-seekers – the dollar, yen and Swiss franc.

Yesterday’s trading session ended in negative territory for the European currency, the dollar has tested a maximum of one month – 1,3 dollars for euro.

Today, however, the Asian trading session, investor sentiment has changed somewhat, the dollar fell against the backdrop of rumors that before meeting Chinese leaders in the White House to be held in Washington, China will make some concessions to the U.S. monetary policy. Analysts believe that before the visit, Hu Tszentao U.S. Bank of China may be willing to raise the upper level of the yuan against the dollar quotation, which will strengthen the Chinese currency. Recall that between the U.S. and China, two largest trading partners remains the most sensitive issue – the currency issue. In the United States believe that an undervalued yuan is one reason the U.S. trade deficit, since a significant proportion of the U.S. deficit – more than a third occur in China.

What to expect today?

Today, the U.S. and the Eurozone particularly important news is not expected, the Eurozone should be noted only the data output of Germany – the leading index of business climate. In Japan will be issued a decision on the basic interest rate.

Financial Analyst Rinat Meshera.

The main event was a meeting Tuesday Open Market Committee Federal Reserve System, where it was decided to leave key interest rates in the country at the same level.

Recall that the interest rate on federal funds currently stands at 0.25%. The parameters of the programs for quantitative easing monetary policy has also been left unchanged, which in the end, no surprise to experts and market participants.

In the accompanying communiqué stated that "the U.S. Federal Reserve maintains its loose monetary policy in the backdrop of new signs that the U.S. economic recovery is gaining momentum."

In addition, the paper pointed out that under this policy will continue buying U.S. Treasury bonds and short-term interest rates will remain near zero.

With this guide the Fed also reiterated that their plan purchases of Treasury bonds worth 600 billion dollars until the end of June will be reviewed regularly, adding that the plan will be adjusted depending on the state of the economy.

Experts in this case highlighted the fact that after a one-day meeting, the last of this year, members of the FOMC did not indicate on what they think about any changes in the near future.

In this case, economists have noted that many of the expected Fed’s decision was presented, when new data showed that consumers started holiday shopping season, significantly increasing costs, suggesting that strong data on retail sales in November and the upward revision of data for two previous month led to what many experts have raised their forecasts for GDP growth in the 4 th quarter.

Many experts agreed that, in his statement, the Fed provided a restrained assessment of the situation in the economy, noting that the economic recovery continues, "but not enough pace to reduce unemployment."

The document also noted that consumer spending, which are a key engine of growth for the U.S. economy grow "at a moderate pace." In addition, as in the previous paper noted that the costs remain restrained due to high unemployment and moderate growth of incomes and lower home values and stricter lending conditions.

We note that the publication of macroeconomic indicators from the United States on Tuesday were again significantly better than expected, which provided substantial support to the U.S. dollar.

Thus, the index of retail sales in the U.S. for November amounted to +0.8%, while the forecast was +0.5% and +1.2% the previous value.

The index of retail sales excluding auto sales in the U.S. for November amounted to +1.2%, while the forecast was +0.5% and +0.4% the previous value.

Producer Price Index in the U.S. for November amounted to +0.8%, while the forecast was +0.5% for the month and the previous value of +0.4% for the month, +4.3% per year.

A PPI excluding food prices and energy prices in the U.S. for November amounted to +0.3%, while the forecast was +0.2% for the month and the previous value of -0.6% for the month, +1.5% for the year.

Note also that the dollar has provided support and increase yield of government bonds in the U.S.. Furthermore, the additional pressure on the Eurocurrency provided a statement the rating agency Moody’s that it may revise downward credit rating of Spain.

Yesterday the rating agency Standard & Poor’s downgraded the prospects for changing the credit rating of Belgium to the negative state. The agency warned that if Belgium can not form a government within six months, it could face another downgrade by one notch.

Positive news from Italy did not have any noticeable effect on the single currency, which traded unchanged after Prime Minister Silvio Berlusconi won a confidence vote in the lower house of parliament. As a result, the Berlusconi government will continue its work after the victory by a whisker, when the ruling center-right coalition won 314 votes in his support against the 311.

Failed to inspire eurobulls and the fact that reducing the stock indices and exchange more risky instruments, such as precious metals. Thus, the rate of gold fell to a mark of 1387.40 dollars per troy ounce, and silver exchange rate fell to 29.7, at the same time the Australian dollar fell to 0.9906 marks, returning to their original positions before the growth of the previous day.

It is obvious that in recent times in the markets increased bearish sentiment, which indicates that the pairs of dollar / franc and dollar / Canada may appear a welcome sign of reversal.

We recommend you still do not hurry with their purchases of these pairs – the situation remains uncertain in general and for the sustainable growth of these courses need a more reliable signals.

Thus, for confident long-term purchases should wait to overcome a pair of dollar/franc gradually overcoming the boundaries of the resistance to 0.9690 and 0.9850, whereas for the dollar/canada such reference marks may be the levels of 1.0140 and 1.0280

Fed keeps rates refinancing at the same level that was not a big surprise for the market. Analysts noted that the refinancing which has for two years at the minimum level will be maintained at the zero threshold, and throughout the next year.

However, the main thing for analysts at the recent meeting of the FOMC were no bids, and new details of the plan to stimulate the economy taken over by the Fed at the previous meeting of the Committee.   

The Fed reaffirmed its intention of purchasing government bonds, however, as noted by Fed Chairman Ben Bernanke, the target range of purchases under the program of quantitative easing, which provides the volume expansion of state   debt through the Fed Reserve to $ 600 billion by June next year. The Federal Reserve is planning to add to that another 300 billion to replace in its portfolio package mortgage securities for which the period expires, the package of Treasury bonds.       

Bernanke said the U.S. economy came "very close to the line, when prices could begin to fall, threatening to reduce wages and general economic decline." In his opinion, the quantitative easing policy of the Federal Reserve, despite the warnings of critics who do not lead to inflation. "Concerns about inflation, I believe, are greatly exaggerated" – he said. The Fed chief said he is confident in the ability of the Federal Reserve to take, when necessary, inflation under control, and prevent its growth above 2%, and the time to lift the measures to stimulate economic growth.

Thus, the dollar got another boost to cheaper, but analysts noted that Fed policy causes a wave of criticism from the countries of key U.S. trading partners. In response to the measures to quantitative easing, which lead to a decrease in the dollar for all currencies, the central banks of other countries retaliate by curbing the dollar’s decline since the People’s Bank of China has decided not to raise the refinancing rate, and the ECB extends repurchase program of public debt. That balances the tendency to reduce rates.  

What to expect today?

From important news to affect the movement in the currency market can be identified out quite meaningful index of business activity of the Bank of Japan – the index of business activity Tankan (Tankan Manufacturing Index)

According to the U.S. is data on net purchases of U.S. securities by foreign investors (TIC Long-Term Purchases). Analysts predict the volume of investment increased by 1.2 billion dollars in October. That will support the dollar if the data they would be within the expected values and higher. 

Financial Analyst Rinat Meshera.