Economic confidence in the Euro-Zone fell to its lowest level since recordkeeping began in 1985 as the index plunged to 67.1 from 74.9 in November and unemployment rate increased to a two-year high of 7.8%, which suggests that the real economy is now feeling the spillover effects from the financial crisis.
Fundamental Headlines
• Lenovo Expects Loss, Plans Major Revamp – Wall Street Journal
• Wal-Mart Elevates Sam's Chief McMillon – Wall Street Journal
• RBS eyes sale of £2bn Chinese stake – Financial Times
• Satyam Founder’s Fake Reports Threaten Software Maker – Bloomberg
• Intel, Time Warner Shortfalls Signal Further U.S. Forecast Cuts – Bloomberg
EURUSD – Economic confidence in the Euro-Zone fell to its lowest level since recordkeeping began in 1985 as the index plunged to 67.1 from 74.9 in November. As a result, the consumer confidence index slipped to -30 from -25 amid expectations for a 1 point drop to -26, while sentiment among businesses fell to -3.17 from a revised reading of -2.10 in the previous month. Meanwhile, the unemployment rate increased to a two-year high of 7.8% from 7.7% in October, which suggests that the real economy is now feeling the spillover effects from the financial crisis, and will likely push the jobless rate higher this year as financial uncertainties linger. Furthermore, the final GDP reading for the third quarter was confirmed at -0.2%, while the annual rate of growth held steady at 0.6%. Nevertheless, German factory orders plunged another 6.0% in November, which was followed by a 6.3% decline in the previous month, and conditions are likely to get worse as demands from home and abroad falter. The data reflects a dour outlook for the 16 economies operating under the euro, and may lead the European Central Bank to ease policy further over the coming months as growth prospects deteriorate at a record pace. Discuss the topic and your trade ideas in the EUR/USD Forum.
CHFUSD – Price growth in Switzerland slowed more than expected as it fell to its lowest level in 15 months. The consumer price index slipped 0.5% after falling 0.7% in previous month, which lowered the annual rate of inflation to 0.7% from 1.5% in November. The breakdown of the report showed that energy prices dropped another 8.0% following an 8.2% contraction in the previous month, while transportation costs fell 1.9% during the month. Meanwhile, Switzerland’s unemployment rate increased to 2.8% from 2.7% in November as fading demands from the home and abroad led companies to scale back production and employment. Easing price pressures would allow the Swiss National Bank to leave borrowing costs at 0.50% for a longer duration in response to the economic downturn, and may decide to ease policy further as policymakers expect economic activity to deteriorate throughout 2009.
[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.
If you are a trader or are the least bit interested in trading, you're most likely “chart-centric.” A good chart is priceless if it helps to identify a great opportunity.
