19 March 2010

ProTrader is a Professional trading software

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As a unique selling point for the brokers, this revolutionary combination of powerful trading terminal and social community, is yet another advantage for those traders who do not other trading platforms in the market currently offers. Make sure you join protrader and build relationships with professional traders through social networks trader.

4 February 2010

EUR/USD holds near 1.3900

The Dollar is consolidating gains against the Euro. EUR/USD has been moving in a range between 1.3900 and 1.3925 in the last hours after falling from 1.4025.

Currently the pair trades at 1.3912/15, 0.36% below the price it had at the beginning of the day and near daily lows that lie at 1.3898.

“EUR turned lower after the release of better than expected January ADP employment report as the report fuels US recovery hopes and higher bond yields. This week's main focus is Thursday's ECB policy meeting. The ECB is widely expected to hold monetary policy unchanged and confirm that a gradual exit from nonconventional policy matters will continue,” Michael J. Malpede, analyst at Easy Forex, comments regarding recent performance of the Euro against the Dollar.

On the technical outlook, M. Malpede says that is negative for the EUR as it “trades below 1.4000. Expect EUR support at 1.3830 the June 22nd low with resistance at 1.4053 the January 28th high”.

Source : http://www.fxstreet.com

13 January 2010

Dollar mixed amid trade data, China tightening

NEW YORK (AP) -- The dollar was mixed Tuesday as U.S. trade data underscored improvements in the global economy, while disappointing quarterly results from Alcoa Inc. and uncertainty over Chinese central bank policies worried traders.
Since the collapse of Lehman Brothers in late 2008, the low-yielding dollar has tended to rise in value when investors seek a safe haven due to bad economic or corporate news. The dollar often drops when investors' confidence improves, while riskier stocks, commodities and emerging-market currencies gain.
In late New York trading, the 16-nation euro slipped to $1.4497 from $1.4519 late Monday. The British pound climbed to $1.6179 from $1.6099, and the dollar tumbled to 90.99 Japanese yen from 92.07 yen.
Against a basket of six currencies, the dollar was down 0.02 percent.
On Monday, aluminum producer Alcoa kicked off the earnings season with quarterly results that fell short of market expectations. Still, UBS analyst Geoffrey Yu said strong corporate earnings were expected overall for the last three months of 2009. That could troublesome for the low-yielding dollar, he said.
Meanwhile, the Chinese government tightened its monetary policy for the second time this week amid concern over inflation and asset bubbles in the rapidly-rebounding economy. Brown Brothers Harriman analysts said officials indicated more hikes might be coming. A slowdown in China's growth as a result of future rate hikes could slow down recovering trade and economic growth throughout the world.
In the U.S., the government reported that the trade deficit in November widened 9.7 percent to $36.4 billion as imports rose 2.6 percent. Exports also grew 0.9 percent, thanks in part to a weaker dollar.
In order for the Federal Reserve to raise interest rates from their current rock-bottom range near zero, analysts say the economy must show signs of recovery.
Low rates tend to weigh on a currency because they mean smaller returns on assets denominated in that currency. High rates, or the expectation of increasing rates, can bolster a currency.
The U.S. Federal Reserve has said that continuing high unemployment and slack in the economy, alongside subdued inflation, would allow it to leave interest rates low for a long time.
In other New York trading, the dollar edged up to 1.0381 Canadian dollars from 1.0331 late Monday, and rose to 1.0179 Swiss francs from 1.0158 francs.

Source : finance.yahoo.com/