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Schwager on Futures - Fundamental Analysis
In Fundamental Analysis, the legendary Jack D. Schwager has produced the most comprehensive, in-depth book ever written on the use of fundamental analysis for futures trading. In what is destined to become the bible of the futures industry, Schwager has poured out insights gathered during his long career as a trader, researcher, bestselling writer, and highly regarded authority in the field. Jack Schwager is one of the most important and visible figures in the futures industry today... read more

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Futures Glossary

Initial margin requirement
When buying securities on margin, the proportion of the total market value of the securities that the investor must pay for in cash. The Security Exchange Act of 1934 gives the board of governors of the Federal Reserve the responsibility to set initial margin requirements, but individual brokerage firms are free to set higher requirements. In futures contracts, initial margin requirements are set by the exchange. ... read more

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FX Weekly - Preview: 23rd - 29th August 2010
Alpari Research - 23 August 2010
This coming week contains several intriguing data releases (US GDP, US new home sales, EU PMI’s and UK GDP) but overall the macro data calendar is pretty light. Other themes could come forth and dominate however. BoJ intervention in ongoing JPY strength is unlikely out of the blue but if the Fed administers a fresh policy change and expands its balance sheet further, we could see US yields declined sharply and so would USD/JPY. European auctions, although small, could potentially spring a surprise and dominate. ... mehr

FX Weekly - Review: 16th - 22nd August 2010
Alpari Research - 23 August 2010
USD A risk-off week ensured the Dollar stayed well supported alongside CHF and JPY - the Dollar Index failed to breach 82 as US data was mostly short of expectations. Although IP data indicated gradual expansion (1% vs. 0.5% exp.), the all important labour sector continued to raise concerns amongst investors with unemployment claims staying persistently high (500,000 vs. 478,000 exp.) and when viewed in comparison to previous readings, a gradual uptrend in claims is beginning to emerge. ... mehr

FX Weekly - Preview: 2nd - 8th August 2010
Alpari Research - 02 August 2010
With earnings season now coming to a close (15% of the S&P 500 yet to report) we should see a decline in USD weakness over the course of August. The easing in growth estimates in both China and US is gathering pace – this is positive for the US dollar in cyclical pairings i.e. against CAD, NZD and AUD. In addition, the level of speculative USD shorts has reached a new peak alongside a continuously declining Dollar Index. In summary, US data is likely to continue in its anemia while growth projections are only likely to be revised lower – ... mehr

FX Weekly - Review: 26th July - 1st August 2010
Alpari Research - 02 August 2010
USD Last week confirmed what we were expecting over the course of July – a weaker Dollar alongside stronger equities (via better Q2 earnings) and stronger commodities. This has played into the hands of commodity currencies which have all gained over the course of July. In historical terms, this year’s Q2 earnings have been the most Dollar negative for over a decade. The Q2 earnings season is now almost complete with 15% of S&P 500 still to report. Unless we see several last minute shocks, US equities should remain supported. ... mehr

FX Weekly - Review: 19th - 23rd July 2010
Alpari Research - 26 July 2010
USD A tremendously uncertain and volatile week of trading ended on a high in terms of risk appetite despite several negative developments in the recovery story. The US dollar was under pressure, closing the week lower against all currencies except the Yen and Swiss Franc – the two worst performing currencies in the G20 last week. EUR/USD closed the week exactly where it opened but not before the downside was tested around 1.2750; ... mehr

FX Weekly - Preview: 26th - 30th July 2010
Alpari Research - 26 July 2010
The Q2 earnings season kicked off two weeks ago with most EPS results coming in above estimates. This has so far led to USD declines and equity market strength despite a few disappointments along the way (Goldman, IBM, Citigroup, Bank of America). This week has a further 100 firms reporting which is likely to influence all other asset classes as has been the case so far. For a full rundown of Q2 earnings see the calendar on page 7 or visit: ... mehr

FX Weekly - Review: 5th - 11th July 2010
Alpari Research - 12 July 2010
The significant risk premium being priced into all asset classes globally over the past month took a pause last week. A smooth funding operation by the ECB, strong demand for Spanish debt (albeit at higher yields of 4.85%), confirmation of Greece staying in line with austerity estimates and higher growth estimates by the IMF helped the financial markets to flush out more negative sentiment relating to European sovereign debt. By the close last Friday, equities, commodities and risk-FX were all higher as market participants began focusing on the next set of factors that are likely to drive asset prices – stress tests on European banks and the US earnings season. ... mehr

FX Weekly - Preview: 12th - 18th July 2010
Alpari Research - 12 July 2010
The main event this week is likely to be the US Q2 earnings season. For details and live updates of results as they are made public visit: http://biz.yahoo.com/research/earncal/20100712.html Given past quarterly earnings reports, this is likely to be the primary theme and driver of FX price action in the short-term. Alcoa is the first name to report today with financials and tech stocks following in the coming days/weeks. Despite the bounce in risk-tolerance last week, key event risks remain in the pipeline making positional trades very difficult to call with reasonable certainty. ... mehr

FX Weekly - Review: 28th June - 4th July 2010
Alpari Research - 05 July 2010
The headline story from last week is the unexpected underperformance of US macro and activity data – ISM and payrolls highlighted the feeling of doom and gloom in the US economy while housing data shocked market participants with a 30% decline. The likelihood of the US returning to recession has seemingly increased which has in turn pushed the European sovereign risk story out of the limelight. A US slowdown is symptomatic of broader weakness globally so the market focus has to a large degree switched from sovereign risk in Europe to global growth underperformance. ... mehr

FX Weekly - Preview: 5th July - 11th July 2010
Alpari Research - 05 July 2010
This coming week is extremely light on macro data events but is fairly rich in terms of policy meetings. Three central banks are scheduled to meet; BoE, ECB and RBoA. In the UK, the overwhelming consensus is for no change with asset purchases left unchanged. The ECB will also keep its policy rate unchanged but the sting in the tail here could be a restart of covered bond purchases considering the uncertainty in European credit/money markets at present. Stress tests designed to gauge the health of European banks should be released by the end of July so ECB members may take their cue from those rather than changing something pre-emptively this week. ... mehr

Alpari Gruppe ernennt ehemaligen Geschäftsführer von Currenex, um Wachstum Ggobal voranzutreiben
Alpari Research - 30 June 2010
30. Juni, 2010 – Die Alpari Gruppe („Alpari"), einer der weltweit am schnellsten wachsenden Anbieter im Online-Devisenhandel („FOREX", „FX") hat Daniel Skowronski ins Management Team geholt. Er war vormals Geschäftsführer von Currenex, einem führenden Anbieter von ECN-Lösungen und Technologien. Daniel Skowronski wird dem Alpari Executive Management Team in der neu geschaffenen Position des Global Chief Commercial Officer sowie als CEO von Alpari (US) beitreten. ... mehr

FX Weekly: Review: 21st - 25th June 2010
Alpari Research - 28 June 2010
USD The US dollar was again supported by broad-based demand in view of persistently adverse market sentiment. Market participants are apprehensive about the health of the global recovery and continue to price in significant default risk – primarily emanating from the Euro zone but also from emerging markets in Eastern Europe. In addition to global factors that have been putting pressure on sentiment, local US factors were also in effect. Housing data, durable goods orders and weaker than expected GDP growth were all factors that put further pressure on risk-sentiment last week. ... mehr

FX Weekly: Preview: 28th June - 2nd July 2010
Alpari Research - 28 June 2010
This week attention will focus on multiple PMI releases from Japan, China, Switzerland, UK and US. Survey data should help investors to clarify the state of sentiment amongst businesses in the largest economies in the World. The period of consolidation/retracement currently ongoing since late April has induced a range-trading environment in several asset classes including equities but eventually those ranges will be broken. Investors are looking for when that may be – this week carries several intriguing macro data releases that have the potential to influence market sentiment and thus have the potential to create room for more consolidation or reinvigorate fragile market opinion. ... mehr

Alpari (UK) veröffentlicht Metatrader 5 Demo für alle Deutschsprachigen Kunden
Alpari Research - 23 June 2010
Frankfurt, 23. Juni 2010 – Bei Alpari (UK), einem weltweit führenden Anbieter von Online-Forex Trading Services und Technologien, können deutschsprachige Kunden ab sofort die Demoversion von MetaTrader 5 herunterladen und testen. MetaTrader 5 ist die jüngste Version der weltweit favorisierten Handelsplattform MetaTrader. Alpari (UK) ist einer der ersten Forex-Broker, der seinen Kunden die MetaTrader 5 Demo für den Handel mit Forex, Metallen und CFDs anbietet. ... mehr

Großbritanniens Nothaushalt
Alpari Research - 23 June 2010
Wir haben es hier mit dem steuerlich wohl asketischsten und einschneidensten Haushalt in der Nachkriegs-Geschichte Großbritanniens zu tun. Die Reaktion der Märkte darauf war bislang positiv; das Britische Pfund nahm an Wert zu und auch der Markt für Britische Staatsanleihen nahm das Budget dankbar auf. Das Vereinigte Königreich ist zwar noch nicht aus dem Schneider, aber zumindest haben die internationalen Kapitalmärkte diese Budget-Sofortmaßnahme relativ zuversichtlich entgegengenommen. Der neue Haushalt hat eine Menge Unsicherheit beseitigt und die Bondmärkte fürs Erste besänftigt. ... mehr

FX Weekly - Review: 14th - 20th June 2010
Alpari Research - 21 June 2010
USD The Dollar continued its retreat with the Dollar index trading as low as 85.25 as investor sentiment and risk tolerance improved markedly. Equity markets in the US, Europe and Asia posted strong gains for the week and helped to support the ongoing bounce in confidence/pause in negative news flow. Crude oil and commodities in general continue to drift higher being supported by the strengthening of risk preferences. Some of the recent tensions surrounding Europe and sovereign debt retreated last week, prompting a broad-based USD sell-off. ... mehr

FX Weekly - Preview: 21st - 27th June 2010
Alpari Research - 21 June 2010
The main focus for this week will be reaction to China’s move on the Yuan and the UK emergency budget. Given the PBoC’s recent past, appreciation should be gradual and shouldn’t necessarily be seen as an exclusively one-way street. There is potential scope for more artificial central bank intervention subject to developments in the Chinese economy, as well as the broader recovery globally. We expect the USD/CNY rate to fall by 5%-10% by the end of 2010 via a gradual and measured decline. The other main theme is European funding for sovereigns and financial institutions. ... mehr

FX Weekly - Review: 7th - 13th June 2010
Alpari Research - 14 June 2010
USD The US Dollar staged a mini-reversal against the Euro, reaching a high of 1.2152 as profit taking and an element of stabilisation in the sovereign debt saga helped the Euro to reclaim some of its sharp losses in May/early June. Default risk has abated in the Euro-zone (because of the ECB’s €750bn safety net and promises of more if required) which is helping confidence to at least stabilise, but the next problematic issue that could dent sentiment and European asset prices is the growing lack of trust between financial institutions in Europe. ... mehr

FX Weekly - Preview: 14th - 20th June 2010
Alpari Research - 14 June 2010
Fiscal issues should continue to dominate market attention. Sovereign uncertainty in Europe and estimates of lower levels of GDP growth in the UK could keep EUR and GBP pairs suppressed. Today, the newly formed Office for Budget Responsibility (OBR) published its own estimate of UK’s fiscal black hole as well as likely growth rates. The report projects sharply lower growth in the UK (2.6% vs. 3-3.5% exp.) but surprisingly the OBR also expects lower borrowing figures as well. Speculators were positioning for a much more sombre report but were disappointed; ... mehr

WM 2010: Anstoss mit Alpari (UK) Miteinzahlungsbonus von bis zu 20,10%
Alpari Research - 10 June 2010
LONDON, 10. Juni 2010 – Alpari (UK) , ein weltweit führender Anbieter von Online-Forex und -CFD-Handel, feiert die Fußball-WM 2010 mit einen Einzahlungsbonus von bis zu 20,10 Prozent auf Neueinzahlungen für den Forexhandel auf Micro- und Classic Konten. Das Angebot gilt für Neu- und Bestandskunden, die sich für die Aktion registrieren und zwischen dem 5. Juni und 9. Juli 2010 einzahlen. ... mehr

FX Weekly - Preview: 7th - 13th June 2010
Alpari Research - 07 June 2010
A fairly light economic calendar this week takes the focus away from macro data. The European sovereign debt crisis rumbles on as evidenced last week. Market participants are still reeling from the adverse price moves in May and stand ready to react to developing news. There are also several auctions in the EU this week, starting with a Belgian auction on Monday. The level of demand for peripheral European debt will be intriguing; a poor auction even in Belgium would damage confidence and could have a knock-on effect on other asset classes. ... mehr

FX Weekly - 31st May - 6th June 2010
Alpari Research - 07 June 2010
USD US markets were mixed throughout the week. Most macro data was positive, either meeting or exceeding expectations. Pending home sales (6.0% vs. 4.9% exp.) released mid-week, helped market participants to feel confident about the key number for the week – non-farm payrolls. The ADP report earlier in the week was only just below expectations and failed to persuade market participants to revise estimates for the non-farm report lower. ... mehr

Alpari (UK) Startet Kostenfreien Audiostream mit Marktkommentaren in Deutschland
Alpari Research - 02 June 2010
Der innovative Alpari Squawk Service kann dem modernen Trader einen entscheidenden Vorteil bei schwierigen Marktbedingungen bieten Händler können sich auf den Handel konzentrieren, während sie Live Kommentare zum Markt von professionellen Analysten aus London hören London, 2. Juni 2010 – Alpari (UK), ein weltweit führender Anbieter von Online-Forex Trading Services und Technologien, bietet seinen deutschsprachigen Kunden ab sofort einen kostenlosen Audiostream mit Live-Kommentaren zum Marktgeschehen an. ... mehr

US Pläne zur Bankenregulierung könnten den Aufschwung gefährden
Alpari Research - 02 June 2010
Die Pläne der US Regierung, die Finanzmärkte deutlich strikter zu regulieren, könnte den erwarteten von Banken geführten Aufschwung wieder gefährden. Nach den jüngsten negativen Wirtschaftsnachrichten aus Europa machen sich Händler in den USA nun verständlicherweise Sorgen über die Zukunft ihrer Branche. Im Zusammenspiel mit dem Risiko von Kreditausfällen und der Furcht vor Zahlungsunfähigkeit ist dies ein weiterer Faktor, der spekulatives Verhalten fördert und so zu höherer Volatilität in den meisten Vermögensarten führt. ... mehr

FX Weekly - Preview: 31st May - 6th June 2010
Alpari Research - 01 June 2010
The focus for this week is unlikely to change; the European sovereign crisis has metamorphosed into a possible counterparty crisis akin to Lehman Brothers and AIG. The other poignant issue is that private sector debt that was effectively nationalised by central banks and governments worldwide is slowly overlapping back onto the private sector. The ultimate fear is that private and public sector debt burdens combine to create a ‘supercrisis’ that cannot be supported by any entity or organisation. ... mehr

FX Weekly - Review: 24th - 30th May 2010
Alpari Research - 01 June 2010
USD The Dollar was able to hold gains against the major currencies and only fall marginally against the commodity currencies (CAD, NZD, AUD) as fresh concerns in Greece and a delicate geopolitical issue in Korea pushed investors to fret once more. With so much bad news already priced into all asset classes, further escalation in the European sovereign crisis (Spanish downgrade) didn’t induce the eye watering falls seen earlier in May. ... mehr

Alpari (UK) unter die Drei Besten Forex-Broker in Deutschland gewählt
Alpari Research - 27 May 2010
FRANKFURT, 27. Mai, 2010 – Nicht einmal einen Monat nach der Eröffnung der deutschen Niederlassung in Frankfurt ist Alpari (UK), ein weltweit führender Anbieter von Online-Forex Trading Services und Technologien, bei der diesjährigen "Brokerwahl" mit dem dritten Platz in der Kategorie „Forex Broker des Jahres“ ausgezeichnet worden. Alpari (UK) war bei dieser repräsentativen jährlichen Online-Umfrage zum ersten Mal angetreten und sicherte sich auf Anhieb über 24 Prozent der fast 45.000 Stimmen privater und institutioneller Anleger. ... mehr

Kommentar zur Rettung der Spanischen Bank CajaSu
Alpari Research - 25 May 2010
Die 550 Millionen Euro schwere Rettungskation für die spanische Bank CajaSur erinnert schmerzlich daran, dass die Schuldenkrise in Europa noch lange nicht vorbei ist. Die Furcht vor Auswirkungen auf andere Regierungen wird zusätzlich von Bedenken angeheizt, dass die Krise demnächst auch die Privatwirtschaft betreffen könnte. Nach einer kurzen Erholung in der vergangenen Woche hat der Euro erneut massiv an Wert verloren und spanische Anleihen werden trotz des Schutzschilds der EZB wieder teurer. ... mehr

Market Comment by George Tchetvertakov
Alpari Research - 25 May 2010
This Monday’s €550 million bailout of Spanish savings bank CajaSur is yet another reminder that the sovereign debt crisis in Europe is far from over. The fear of sovereign contagion is being exacerbated by the threat of contagion in the private sector. The Euro has already depreciated significantly after a short recovery last week and the cost of Spanish bonds is on the rise once again despite an ECB-backed safety net. ... mehr

FX Weekly - Review: 17th - 23rd May 2010
Alpari Research - 24 May 2010
The markets were calmer in response to the European sovereign issue as a semblance of confidence returned. The audacious rescue programme outlined by European authorities two weeks ago alongside the approved ESM has been strengthened by embattled comments from various EU, ECB officials. Overall, market participants have discounted the risk of an outright default but the fiscal mire in Europe goes on which translates into a higher likelihood of lower GDP growth for the whole region and thus difficulties in servicing debt amongst the most fiscally challenged nations in the EU (Portugal, Ireland, Italy, Greece and Spain). ... mehr

FX Weekly - Preview: 24th - 30th May 2010
Alpari Research - 24 May 2010
This coming week is very thin on macro data that poses significant event risk. A bank holiday in parts of Europe and Canada on Monday will ensure volumes stay suppressed early in the week. A lot of attention will be on the revision for Q1 GDP in the UK in tandem with mortgage approvals which some believe will fall rapidly over the next 6 months because government supported stimulus measures should begin to ease. The usual scattering of month-end Japanese data will be made available on Friday – market participants are not expecting anything stellar that bucks the deflationary trend in Japan. ... mehr

Alpari (UK) Startet CFD Handel mit Niedrigen Kommissionen in Deutschland
Alpari Research - 20 May 2010
- Differenzkontrakthandel (CFD) ist jetzt auf MetaTrader 4 verfügbar - Kommission ab 0,09% und kommissionsfreie Schließung einer Position FRANKFURT, 20. Mai 2010 – Bei Alpari (UK), einem führenden Anbieter im Online-Forexhandel, können deutsche Kunden nun auch Differenzkontrakte (CFDs) mit niedrigen Kommissionen über die MetaTrader 4 Plattform handeln. Alpari (UK) Classic Kontoinhaber können nun CFDs, Forex und Edelmetalle zu wettbewerbsfähigen Preisen von einem einzigen Konto handeln. ... mehr

The Gold Rush - George Tchetvertakov, Alpari UK
Alpari Research - 18 May 2010
Gold will keep soaring as investors are keenly anticipating the outcome of austerity plans and EU growth rates and thus increasingly view the yellow metal as an alternative "hard-asset" store of value. The Euro was considered a strong alternative to the Dollar as a reserve currency but the debt overhang in many peripheral EU countries is gaining traction amongst macro players. Fear of currency debasement and inflation is predominating in the market despite the ECB's sizeable rescue package. ... mehr

FX Weekly - Preview 17th - 23rd May 2010
Alpari Research - 17 May 2010
The prime theme from last week is likely to remain dominant. European sovereign debt continues to raise questions amongst investors despite several liquidity measures supporting EU bond markets and more crucially, confidence. Most of the default risk has now dissipated but the root cause of the fiscal problems remains – poor fiscal management. Until investors see austerity measures being implemented and debt/GDP ratios coming down, European bond markets, equities and the Euro are likely to be susceptible to declines. ... mehr

FX Weekly - Review: 10th - 16th May 2010
Alpari Research - 17 May 2010
USD The US Dollar was once again the play of the week as the European fiscal malaise refused to be put to bed by the record €750bn rescue fund announced by European authorities last weekend. Investors remain tentative on the Euro despite promises of financial support wherever it may be needed within the EU. Market participants are not doubting or disputing whether the EU/IMF/ECB will support Euro-zone members but rather, can troubled Euro nations make the necessary austerity adjustments without snuffing out the crucially important growth rates needed to keep respective deficits manageable and keep repayment schedules on course. ... mehr

FX Weekly - Preview: 10th - 16th May 2010
Alpari Research - 10 May 2010
Today’s interest rate decision from the BoE was in line with expectations and had no effect on Sterling pairs. The current state of government in the UK is by far the most important theme for Sterling traders and UK assets in general. UK equities and GBP have risen sharply today as Greek default risk has ebbed away but the uncertainty surrounding the makeup of the next UK government persists. Positive comments over the weekend from the politicians involved suggests a coalition deal between LibDems and Conservatives is close – such a scenario should be good for Sterling and the sooner it’s announced the more upside there is likely to be. ... mehr

FX Weekly - Review: 3rd - 9th May 2010
Alpari Research - 10 May 2010
USD The US Dollar was in very strong demand last week backed by default fears, risk aversion and the prospect of Fed tightening subject to contagion effects easing in the Euro zone. The Dollar rose against every currency except the Yen while the Dollar Index broke out of its 2010 range (79.50 – 82.02), reaching a high of 85.26 – its highest level since May 2009. Predictably, strongest gains came against SEK, NOK and DKK as cyclical currencies were sold as a priority. ... mehr

FX Weekly - Preview 19th - 25th April 2010
Alpari Research - 26 April 2010
Market attention this week will be firmly on the banking sector i.e. how the SEC’s decision to sue Goldman Sachs affects the wider sector as well as the broader economy. A spectrum of outcomes is possible – it is impossible to say how severe this issue will become but what is for sure is that it will be focused on by all market participants and however the situation develops, its resolution should have an effect on equities at least. Currencies will only be affected if the situation deteriorates significantly and has more of a global effect. ... mehr

FX Weekly - Review: 12 - 18th April 2010
Alpari Research - 26 April 2010
A fairly average week in terms of price action was turned on its head late in the week with the news that the Securities and Exchange Commission (SEC) is accusing Goldman Sachs of committing fraud in the mortgage securities market. Goldman clients were sold securities which the firm knew were hollow in value. In parallel, Hank Paulson was shorting the same securities which earned his hedge fund $1bn in profit as the financial crisis unravelled. ... mehr

FX Weekly - Preview: 19th - 25th April 2010
Alpari Research - 19 April 2010
Market attention this week will be firmly on the banking sector i.e. how the SEC’s decision to sue Goldman Sachs affects the wider sector as well as the broader economy. A spectrum of outcomes is possible – it is impossible to say how severe this issue will become but what is for sure is that it will be focused on by all market participants and however the situation develops, its resolution should have an effect on equities at least. Currencies will only be affected if the situation deteriorates significantly and has more of a global effect. ... mehr

FX Weekly - Review: 12 - 18th April 2010
Alpari Research - 19 April 2010
A fairly average week in terms of price action was turned on its head late in the week with the news that the Securities and Exchange Commission (SEC) is accusing Goldman Sachs of committing fraud in the mortgage securities market. Goldman clients were sold securities which the firm knew were hollow in value. In parallel, Hank Paulson was shorting the same securities which earned his hedge fund $1bn in profit as the financial crisis unravelled. The news made a huge impact in all asset classes and was by far the most dominant event. Risk-aversion spiked higher inducing rises in the VIX, USD, JPY and falls in all equity indices around the globe. ... mehr

FX Weekly - Preview: 12th – 18th April 2010
Alpari Research - 12 April 2010
This coming week is fairly sparse on the data front but heavy on speculation. What happens next in the Greece saga will be one of the major themes affecting currencies. Towards the end of last week, a confirmed rescue plan totalling €30bn just for 2010 was announced. Euro pairs have been lifted by this news despite a 2 notch downgrade of Greek debt late last week. All EUR pairs gapped higher on the open on Sunday indicating a sizeable return of confidence towards the Euro and the wider debt problems in the Euro-zone. The vast amount of commentary, rumours and opinion on the Greek issue has left the Euro susceptible to sharp intra-day moves however. ... mehr

FX Weekly - Review: 5th – 11th April 2010
Alpari Research - 12 April 2010
USD The Dollar had a mixed week, starting strongly on Easter Monday but closing on its lows in most currency pairs as the global risk theme asserted its influence. US macro data generated a big surprise and lifted the Dollar (especially so in very thin market conditions) with the ISM Non-Manufacturing survey showing the largest expansion since 2007 (55.4 vs. 54.1 exp.). On the same day, stellar housing figures improved sentiment further (8.2% vs. -0.5% exp.) underlining the gradual but apparent improvement in the housing sector. ... mehr

FX Weekly Preview: 5th - 11th April 2010
Alpari Research - 05 April 2010
This week effectively marks the beginning of Q2 – the economic calendar is fairly bulky with four interest rate decisions dominating the focus (BoE, RBoA, ECB and BoJ). All are almost certain to leave rates unchanged although the RBoA poses the biggest risk for a surprise. As has been the case over the past year, the headline interest rate decisions will not be as important or influential as the accompanying commentary from central bankers. In recent weeks the BoJ has been increasingly dovish in its stance towards the Japanese economy prompting Yen weakness as market participants price in further yield differential expectations over time i.e. investors are expecting looser monetary policy for longer in Japan compared to the Fed, BoE and ECB who are all expected to start tightening by some stage in 2010 (Q3/Q4 earliest according to futures markets). ... mehr

FX Weekly Review: 29th March - 4th April 2010
Alpari Research - 05 April 2010
USD USD Strong manufacturing numbers alongside the first truly encouraging employment report since the financial crisis began in 2007 ensured confidence remained high throughout last week. U.S. manufacturing expanded in March at its fastest pace in more than five years. The ISM manufacturing PMI registered 59.6, its highest reading since August 2004. An upbeat US consumer confidence number on Tuesday (52.5 vs. 50.1 exp.) lifted USD/JPY above 93.00 for the first time in 3 months. ... mehr

Führender Online-Forex-Anbieter eröffnet Büro in Deutschland
Alpari Research - 30 March 2010
Neues Büro in Frankfurt für Kunden in Deutschland, Österreich und derSchweiz Heiko Müller zum Geschäftsführer ernannt FRANKFURT – 30. März 2010 – Alpari (UK), ein führender Anbieter für Devisenhandel über das Internet (Online-Forex), ist nun auch vor Ort in Deutschland vertreten. Das neue Büro von Alpari Deutschland im 29. Stock des Frankfurter Messeturms ist erste Anlaufstelle für individuelle Trader und institutionelle Kunden in Deutschland sowie Österreich und der Schweiz. ... mehr

FX Weekly - Preview: 29th March – 4th April 2010
Alpari Research - 29 March 2010
This coming week, the markets are likely to have their ultimate focus on US payrolls, released on Friday 2nd (Good Friday). Volumes are likely to be suppressed because of the public holiday so even a small surprise would create very adverse market conditions. A strong number is expected (180,000) although most of the expansion is likely to have come from extra census workers hired last month. If private sector hiring is seen as flat, even a stronger number could be seen as negative for US employment overall because public sector hiring is not sufficient to support long-term growth. ... mehr

FX Weekly - Review: 22nd - 28th March 2010
Alpari Research - 29 March 2010
USD The major story for the Dollar was the poor set of auctions of US debt which in turn induced spikes in US yields across the whole yield curve. 10yr Treasury yields are peaking and will probably test the key 4% level sometime this week. The Dollar also found natural support from risk-averse capital flows looking to avoid exposure to EUR and JPY. European sovereign default risk has been a persistent weight on the Euro for the past few months and even with IMF participation confirmed, the Euro still finds it difficult to shed its recently acquired, negative reputation. ... mehr

FX Weekly - Preview: 22nd - 28th March 2010
Alpari Research - 22 March 2010
Looking ahead - UK budget important but post-election budget will be more influential - CPI, Mortgage Approvals, Retail Sales and a pre-election budget complete a fragile week for the UK - elevated volatility in UK asset classes expected - Interest rate decision from Norges bank poses a risk for NOK pairs; rates likely to stay on hold at 1.75% but futures markets see a 30% chance of a hike so upside event risk for NOK pairs on Wednesday is expected. - Fresh European PMI’s will again update and clarify what’s happening with sentiment in the Euro-zone. ... mehr

FX Weekly - Review: 15th - 19th March 2010
Alpari Research - 22 March 2010
USD The Fed doused expectations of pre-emptive tightening at their monthly policy meeting. Leaving the Fed funds rate unchanged at 0-25%, the Fed also reaffirmed its promise to “keep rates exceptionally low for an extended period”. This phrase in particular was focused on because many market participants believe that only once this phrase has been amended or removed, can the Fed actually begin to raise interest rates. Interestingly, one of more hawkish members of the FOMC voted to remove this phrase. The Fed also announced that the remaining mortgage backed securities and agency debt purchases would be executed by the end of March. ... mehr

FX Weekly - 15th March 2010
Alpari Research - 15 March 2010
Review: 8th – 14th March 2010 Last week saw a reversion to the usual pattern of weaker USD in favour of higher equity, commodity and risk-FX markets. In Europe, sovereign risk continues to fade leaving room for large retracements in EUR pairs – especially against funding (riskaverse) currencies like the Dollar and the Yen. A reacceleration in Europe, via stronger macro data, in particular industrial and manufacturing output would push the euro higher through equity flows, whereas persistent data weakness could invigorate EUR bears. ... mehr

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