RSS2.0

AUD/JPY and NZD/JPY Rose to its Highest Level Since November 2008

Tuesday, January 13, 2009


Varengold Wertpapierhandelsbank AG

Good morning from beautiful and cold Hamburg. Around the world circulate a lot speculation how deep the World’s economic recession will really be and which country can protect its economy effective. It seems that this question affect the FOREX market powerful at the present. However, we wish you a prosperous trading.

Market review
AUD/JPY and NZD/JPY rose to its highest level since November 2008 based on optimism U.S. President-elect Barack Obama’s economic stimulus plan which will help to recover the United States from recession. The head of currency strategy at National Australia Bank Ltd., John Kyriakopoulos, wrote according in a research “Reduced pessimism on the global economic outlook is evident”. Also the AUD/USD climbed to a three-month high at 0.7267 from Tuesdays closing at 0.7175.

The last three days the EUR/USD fell temporarily 5.30 percent to its low at 1.3313 and rebound to 1.3536 on Tuesdays closing while the Euro-Zone Consumer price index rose 1.6 % in December. On early Wednesday Tokyo trading the currency pair was under considerable strain again and fell to 1.3432. As well EUR/JPY weakened as derivatives showed that some investors are betting the ECB will lower its key interest rate next week. The EUR fell versus JPY 1.74 percent to 125.10 at its low on Wednesday.

GBP gained versus a basket of major currencies based on speculations the interest-rate cuts will revive the British economy faster than economists expected. EUR/GBP fell from 0.92741 at its opening to 0.90695 at its closing.

[ForexGen Money Manager]


An individual who is responsible for the entire financial portfolio of another individual or another entity. A money manager receives payment in exchange for choosing and monitoring appropriate investments for the client.

Benefits of being a Money Manager with [ForexGen]:

* Providing three different commission sources.
* Weekly commission plan.
* Easy & fast commission withdrawals.
* Fixed percentage of the profits.
* P = k * D “P=Profit, k=Variable Parameter, D=Deposits”

The money manager gets a fixed percentage of the profit previously agreed upon with the client for managing the client funds as a bonus feature.

The most competitive trading conditions:

* 2 pips spread on six currency pairs.
* Providing online trading services without maintenance margin, margin call and no automatic closing of positions below the initial margin on weekdays for accounts with initial equity of up to $1 million US. The margin level have to be recognized Fridays at 23:00 CET and before public holidays.
* Leverages up to 1:200 for accounts up to $1 million US.
* Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.

0 comments: