Forex Go!

The JPY displayed wide losses on Monday as the Bank of Japan’s policy change to expand a fixed rate fund supply scheme disappointed investors who were anticipating more aggressive measures to counter deflation.

After an emergency policy meeting, the BOJ said it would increase the volume of funds to be offered in its fixed-rate fund supply operation to 30 trillion JPY ($351.4 billion) from the previous 20 trillion yen.

The BOJ also announced it would offer fixed-rate loans to banks with a maturity of six months, adding that it would keep its overnight call rate target the same at 0.1 percent.

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The euro is getting a little help today in forex trading on the currency market as a relief rally is under way. Even though overall euro zone unemployment remains rather high, euro is getting a boost from the fact that Germany saw some improvement.

As the largest of the euro zone economies, Germany has a great deal of influence on the direction of the euro. However, disparities between countries like Germany, and countries like Spain, could cause problems in the long run for the euro zone economy.

So for, though, the euro is staging a rally in forex trading, even though other currencies like the pound and the Aussie are falling to the U.S.

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In the broadcast today: Are the JPY and CHF Candidates for Intervention? In the aftermath of the Bank of Japan’s emergency meeting, we focus on the JPY and CHF and explore the potential for currency market intervention by the Bank of Japan and the Swiss National Bank, we analyze the latest trend developments with the USD/JPY and EUR\/CHF currency pairs, we note the renewed weakness of the EUR against the currency majors and ponder the future of the EUR/USD exchange rate, we take a look at the GBP after the revised U.K. economic growth forecast by the British Chamber of Commerce, we highlight the market’s reaction to the Bank of Japan monetary policy meeting, the Euro-zone Economic Sentiment, and the U.S.

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As in Jackson Hole, WY, where the annual KC Fed Meeting is taking place and where Fed Chairman Bernanke is due to speak at 10AM EST. So the markets have been trading in a bit of a range going into that meeting and the revised US GDP figures, which are due out at 8:30 AM EST.

Earlier in the UK, revised GDP figures came in slightly higher than expected and growing the most since 2001, as construction spending was higher. However, there is some thought that this is due largely in part to government spending, which is due to expire as austerity measures go into effect.

Overnight in Japan, CPI data showed that prices fell for the 17th straight month and bond prices fell as speculation of currency intervention and further quantitative easing is markedly higher.

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Pips Dominator is a new Expert Advisor. It doesn’t look very special so I’ll keep this short. There are a couple of important things to pay attention to. First, the trading statement (backtest). It shows a low drawdown of 5% and a high winning rate of 98%, but its average loss is $36k while an average win is only $1.7k – that’s hardly a strategy for long term. Another thing to pay attention to are the two upsells to the EA software, at $77 and $47. Other d Read more…

After seeing a bit of a pullback on S&P’s downgrading of Ireland’s sovereign debt, the euro is seeing some gains in forex trading. The euro is up against the U.S. dollar in currency trading.

One of the main helps to the euro has come from the better than expected German Ifo data. Concerns about Ireland’s debt have been relegated to the back burner as forex traders contemplate the strength of the largest euro zone economy.

There are still concerns about the euro zone economy, though. However, with Germany looking ready to lead the rest of the EU in economic growth, some are hoping that the stronger euro zone economy means that the euro will remain stronger against the U.S.

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In the broadcast today: Are EUR & USD Entering a New Phase of the Debt Crisis? As equities and risk appetite continue to deteriorate, we examine the early warning signs of what looks like the next phase of the global debt crisis and explore its potential impact on the EUR and the USD, we analyze the latest trend developments with the EUR/USD and GBP\/USD currency pairs, we follow up on the bearish breakout in the USD\/JPY pair as the USD bounces off the new 15-year lows against the JPY, we note the newly-established all-time low for the EUR vs. CHF, we highlight the market’s reaction to the Japanese Trade Balance, the German IFO Business Sentiment survey, the U.S.

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Japanese Finance Minister Yoshihiko Noda told reporters he would respond appropriately as needed, an expression he has not previously used in his campaign to talk the currency down.

Noda was to meet Prime Minister Naoto Kan and other ministers later. Market investors, however, were skeptical whether intervention alone would do much to encourage a rise that took the JPY to a 15-year peak versus the dollar and a nine-year high against the EUR on Tuesday, battering share prices in turn.

“The dollar went to 83 yen, so the chance of intervention has increased, but it would take more than intervention,” said Kiichi Murashima, an economist at Citigroup Global Markets in Tokyo.

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Forex SAS is a Forex robot scalper that is designed to trade safely. The EA trades every day as a scalper and promises to make profit in a long term as well. How will this scalper do that, though, is a little bit of a mystery. Looking at the trading statement it seems like the usual scalper – it aims at 5 pips per trade and has a very large stop loss, which means a big risk to award ratio. That’s a typical strategy for any short term scalper, albeit it has an option to adjust the stop loss setting. Forex SAS works with all brokers and has the same low barrier of entry for Forex beginners like most EAs. It Read more…