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DAILY ANALYSIS

SPOT RATE €/¥

Recommandation: NEUTRAL

Advice Start : 14/04/2010

Rate at 13/04/2010 : 126.60¥

Advice Maturity : 21/04/2010

Price Target : 127.70¥

Stop : 127.30¥

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CAD Climbs on Oil and Stock Rebound

The Canadian dollar was soft after the Bank of Canada today raised the benchmark interest rate by a quarter percentage to 0.75% as expected but warned of a slow down in domestic and global economic recovery. This relatively dovish statement, however, was not able to play down the market expectation of more rate hikes when consistent out-performance in economic data, especially job report, are seen. The loonie reversed earlier marginal loss and strengthened to around 1.0430 against the dollar. Robust stock market reverse in late New York session and rise in oil price encouraged risk taking appetite and therefore also contribute to...

What is the Forex?

Forex (or Foreign Exchange) also known as "foreign exchange market" is an interbank market generating a trading volume of 3.210 billion of U.S. dollar daily to exchange currencies in real time.
In a Forex transaction, a currency is bought and another sold, and these two currencies are called a "pair" of currencies or "Cross". Pairs most traded daily (called majors) are EUR / USD (about 28% of the total daily volume), USD / JPY (approximately 17% of the total daily volume), GBP / USD (about 14% total volume) and USD / CHF (about 5% of total daily volume, the less negotiated among the majors). The Forex market's main Actors, open without interruption from Sunday evening (23:00 GMT (on Friday night ( 23:00 GMT) are banks.
Following a major technological revolution, the online brokerage firms (Forex Brokers) have made the Forex market accessible to retail investors. Today, simply by using an Internet connection, anyone can open a Forex trading account with a Forex Broker and start to trade. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.