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Wednesday, December 23, 2009

European Federation of Osteopaths

FORE held its 8th meeting in July, bringing together 25 representatives from osteopathic organisations across Europe. Held in Stockholm during the Swedish Presidency of the EU, a key aim of this meeting was to consider proposals developed by the Secretariat, current provided by the General Osteopathic Council, to formalise the governance, membership and funding structure of FORE and to agree a draft strategic plan for the next 3 years.
Following a lengthy debate, it was agreed that membership of FORE should be organisation-based, but voting would be by country. To date, FORE has had no formal structure and decisions have been based on a consensus. Proposals on funding mechanisms, categories of full and associate membership and the principle of appointing a Chair were all referred back to the respective organisations for consideration at the next meeting of FORE, expected in November. A draft strategic plan received wide support, as well as the move towards increased coooperation and communication with the European Federation of Osteopaths, representatives of which were also in attendance.
Formalising European osteopathic standards
FORE considered the potential authorisation of its Framework documents on standards of osteopathic education, training and practice through adoption by national standadisation agencies. A representative from the
European Committee of Standardisation (CEN) gave an informative presentation on the process of developing European standards, which although would not override national law, would provide some benchmark standard in those Member States without regulation - currently the majority of EU countries. As some French osteopathic organisations had already started work on developing a national standard through their national standardisation agency, they were asked to consider whether they would stop this project in favour of developing European standards. It was agreed that our French colleagues would need to confirm with CEN and the FORE Secretariat as soon as possible how they wished to move forward.Representatives from the European Federation of Osteopaths (EFO) and Forum for Osteopathic Regulation in Europe (FORE) met in Brussels on 20 May. The third event of its kind, this gathering sought to ensure that both bodies were aware of the other's activities and to identify opportunities for joint activity to promote osteopathic standards at a European level.
Originally established in 1992 as the European Register of Osteopaths, the EFO is the EU-level professional body for osteopaths, whilst the focus of FORE is on regulatory matters, in particular the promotion of osteopathic standards, routine exchange of information between registering bodies across Europe and the spread of regulation of osteopathy as autonomous healthcare profession. Key items on the agenda include the proposed launch of standards agreed by FORE and the EFO on osteopathic education, training and practice in November 2009 and the development of a European scope of osteopathic practice.
Launch reception
This high level political event, to be held in London or Brussels, will target national and EU policy makers, patients and professional representatives with the aim of sharing information about current osteopathic care in Europe, promoting European standards of osteopathy and encouraging and assisting in the development of regulation of the profession across Europe.
European scope of osteopathic practice A paper (based on the British Osteopathic Association’s Common Language Project, Quality Assurance Agency’s Osteopathy Benchmark Statement and GOsC’s draft Osteopathic Practice Framework) was presented by the EFO to debate the worth of a scope of practice at a European level, particularly in light of challenges made by other professions seeking osteopathic practice rights in some European countries. It was agreed there was a need to have a clear understanding of what osteopathy was but that this would need to reflect different approaches and accommodate the needs of different target audiences. A working group of representatives from the Netherlands, Sweden, Finland, Belgium, France, Ireland and the UK was appointed to take this project forward. The next joint meeting between the EFO and FORE will take place in London in September 2009.
As an illustration of the practical application of the Memorandum of Understanding between the EFO and FORE, representatives from both bodies held a joint briefing with European Commission official, Mr Jurgen Tiedje in October. Mr Tiedje has responsibility for EU legislation governing the recognition of professional qualifications, which affects the rights of osteopaths wishing to practise in different Member States.
Mr Tiedje was particularly interested in our experience of the Recognition of the Professional Qualifications directive, and we were able to highlight a number of patient safety concerns, based on the the lack of regulation of osteopathy across Europe and consequent inability of authorities to share information between Member States.
On information exchange, it was agreed that the Commission would extend its Internal Market Information (IMI) system to include osteopaths, to facilitate the sharing of data about registrants moving from one country to another.
Mr Tiedje was also interested to hear about the joint EFO/FORE project to develop a European scope of osteopathic practice and how this might help to promote mobility, as well as the potential collaboration with the European Committee for Standardisation (CEN) to formalise osteopathic standards.The European Federation of Osteopaths (EFO) and the Forum for Osteopathic Regulation in Europe (FORE) held their fourth joint meeting in September, bringing together 17 osteopathic representatives from all over Europe.
To express a firm commitment to this increasing collaboration, a memorandum of understanding between the EFO and FORE was drafted, agreed and formally signed at the meeinting. This memorandum commits each organisation to share information about their respective work programmes and to carry out joint lobbying activity where this will facilitate the regulation of osteopathy as an autonomous profession across Europe.
Other items discussed included:
Progress of the joint EFO-FORE working group exploring the development of a European scope of osteoapthic practice. The group is expected to produce its first draft scope document in early 2010.
The formalisation of European osteopathic standards, through adoption by national standardisation agencies.
The potential merger of FORE and the EFO. It was agreed that each body would carry out a feasibility study to review the pros and cons of merging and possible alternative structures. Both groups would report by Autumn 2010.

Monday, December 21, 2009

U.S. reports this week.

The dollar moved higher against major rivals in thin trading on Monday amid hopes for continuing improvement in the economy ahead of key U.S. reports this week.

Earlier, ongoing worries over Greece's debt problems had provided some safe-haven strength for the greenback.

"We are seeing a rally in the dollar along with equities," said Kathy Lien, director of currency research at GFT Forex.

"It's optimism that we're going to end the year strong economically and for stocks," Lien said. "That cohesiveness [between the dollar and stocks] is something new this year and suggests that fundamentals are becoming the dominant factor again."

The dollar index (DXY), which tracks the U.S. unit against a trade-weighted basket of six major counterparts, recently traded at 77.918, up 0.2%.

On Friday, the dollar index rose as high as 78.096, marking its highest level since Sept. 4, as traders reversed so-called short trades, which bet the greenback would fall further.

U.S. stocks surged in midday trade Monday, as analyst upgrades and merger activity boosted sentiment. The Dow Jones Industrial Average (DJI) rose 105 points, or 1%, and the S&P 500 Index (SPX) gained 1.2%.

In recent months, the U.S. dollar has tended to fall when the economic outlook improves and investors shift money into stocks, commodities and higher-yielding currencies but that trend has started to break down in recent weeks.

Year-end factors are currently the main drivers behind dollar trading, said currency strategists at Brown Brothers Harriman & Co.

"We continue to caution that while we do expect the dollar to weaken again as the new year begins, picking a top in the dollar in the midst of year-end position unwinding is risky," they wrote in a note to clients.

The greenback has rallied in recent sessions, as concerns over Greece's government deficit have weighed on the euro and as traders have started to reassess when the Federal Reserve could begin to tighten U.S. monetary policy.

The dollar is now expected to continue reacting to fundamental factors, such as rising on upbeat economic news that would make it more likely that the Fed will eventually hike rates, Lien said.

That trend, she said, should continue at least until early January when the government releases the next key U.S. jobs report for December.

The euro (CUR_EURUSD) traded at $1.4305, down from $1.4323 on Friday. The British pound (CUR_GBPUSD) edged down 0.6% to $1.6065.

The dollar (CUR_USDYEN) rose to 90.96 Japanese yen, compared with 90.43 yen late Friday.

The Japanese currency earlier received support from a report that showed Japan posted a wider-than-expected trade surplus in November.

The surplus came to 373.9 billion yen ($4.14 billion), Ministry of Finance data showed Monday, greater than the 319.2 billion yen consensus forecast of economists polled by Nikkei and Dow Jones Newswires.

"Japan's latest merchandise trade data confirmed the moderate upward trend, and the current-account surplus is also likely to maintain the upward trend, placing upward pressure on the [yen]," said Tomoko Fujii, a rates and currency strategist at Bank of America Securities-Merrill Lynch Japan.

Dollar and alternative asset classes was broken for the second time

US stock markets pushed upwards today on increased investor confidence. The inverse correlation we have seen between Dollar and alternative asset classes was broken for the second time in recent months, indicating a positive change in sentiment on the state of the US and global economy.

Dollar rose across the board during the previous session, and this trend looks set to continue into Asian trading. During the opening minutes of Asian trading the major Dollar pairs look like this: EUR/USD 1.4288/92 (+0.08%), Swissy 1.0447/59 (-0.12%), Cable 1.6054/56 (+0.11%), USD/JPY 91.09/11 (-0.08%).

EUR/USD was testing three-and-a-half-month lows in the previous session, and continues to teeter around this area, currently trading at 1.4287, just 3 pips up from the open.

For support levels Valeria Bednarik, collaborator at Fxstreet.com, guides us: “Hourly charts remain bearish despite bigger time frames hold the oversold condition, with no signs of correction yet. Well under 20 SMA, strongly bearish in the 4 hours charts, pair could extend the downside rally under past week low of 1.4260, with next key level to watch around 1.4180, 50% retracement of the monthly fall 1.6038/1.6056

Financial astrology charts


Since stockmarkets began there have been two schools of thought: the 'technical analysts' (chartists) and the 'fundamentalists'. The chartists have relied on complex modelling systems, retracement models, Fibonacci series, encyclopaedic numbers of different averages and even in extreme cases 'financial astrology charts'. On the converse, fundamentalists have looked at news and actual financial facts relating to the asset class - Warren Buffet one of the most famous alumni of this school of thought.

Economics tells us that a graph of any assets price over time, is simply an image of information flow (news) relating to the asset coming into the market. Speculators, investors and insurers all act on information. Technicals could have the most value in markets with little or irregular news, where investor psychology, and concepts like psychological support barriers carry more weight. A savvy investor will utilise a combination of fundamentals combined with technical analysis - to ignore important news is suboptimal, but technical analysis can provide insights to market-player behaviour.

In terms of key fundamental data releases this week, the main focus will be around GDP levels. UK, US and Canada will all release their gross domestic product, a key measure of the output of the economy, and indeed the strength of any recovery. To keep up to date with all the latest new releases we recommend our economic calendar as a great tool for scheduling your trades and manufacturing trading strategies.

All related crosses to the USD, CAD and GBP will be impacted, but the actual pairs such as Cable and USD/CAD will be most effected by this news.

Cable currently trades at 1.6058 so far this session, just 6 pips up from the open, while USD/CAD is trading at 1.0623, for a change of -8 pips this session.

Monday, December 14, 2009

For forex traning


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North American Management Committee


GAIN's Board of Directors brings a wide range of experience and knowledge to the Company. It is the paramount duty of the Board of Directors to oversee the CEO and other senior management in the competent and ethical operation of the Company on a day-to-day basis, to monitor GAIN's financial performance and to evaluate overall corporate strategy. To satisfy this duty, the directors take a proactive, focused approach to their position, and set standards to ensure that the Company is committed to business success through maintenance of the highest standards of responsibility and ethics.
Mark Galant - Chairman and FounderThe founder of GAIN Capital Group, Mark Galant served as chief executive officer of the Company from its inception in October, 1999 until June, 2007. Mr. Galant's strategic vision and entrepreneurial energy propelled the firm from concept to a market leader in the rapidly growing and highly competitive online forex industry. Under his leadership, the firm achieved top line growth of 65% or more for six consecutive years (2001-2006). Prior to forming GAIN Capital, Mr. Galant was the number two executive at FNX Limited, an international provider of trading and risk management systems. During his six year tenure, Mr. Galant was instrumental in transforming FNX into a world-class software and services firm and, according to Inc. Magazine, one of the 500 fastest-growing companies in the U.S. in 1996, 1997 and 1998. Before joining FNX in 1994, Mr. Galant served as global head of foreign exchange options trading at Credit Suisse. There, he expanded a small regional operation into one of the world's largest and most respected global foreign exchange options trading organizations, trading $4 billion per day. Prior to Credit Suisse, he ran the foreign exchange options desk at Chemical Bank. He also traded all financial products as a money manager for Paul Tudor Jones at Tudor Investment Corporation. During his early years on Wall Street, Mr. Galant was a floor trader, successfully trading his own account on several of New York's commodities exchanges. He holds a BS in Finance from the University of Virginia and an MBA from Harvard Business School. Mr. Galant currently serves on the board of directors of Scivantage and is a member of the University of Virginia's McIntire School of Commerce Advisory Board.
Glenn Stevens - Chief Executive OfficerGlenn Stevens joined GAIN Capital Group in February 2000 as a founding partner and managing director, and assumed the CEO role in June, 2007. Previously, he was managing director, head of North American sales and trading at Natwest Bank. In this role, Mr. Stevens directly managed a staff of over 50 trading and sales professionals and also served as a senior member of Natwest's North American Management Committee. From 1990 to 1997, Mr. Stevens was at Merrill Lynch and Co., hired as a USD/JPY trader and eventually promoted to the bank's management team as managing director and chief dealer for Spot and Forward FX. While at Merrill Lynch, he developed the investment bank's emerging markets currency trading desk and increased profitability threefold in 2 years. During this time, he also served as the Federal Reserve Bank's FX representative for investment banks. Mr. Steven's Wall Street career began in 1984 at Bankers Trust Company. Mr. Stevens holds a BS in Finance from Bucknell University and an MBA in Finance from Columbia University.
Peter Quick, Former President, GAIN's Board of Directors brings a wide range of experience and knowledge to the Company. It is the paramount duty of the Board of Directors to oversee the CEO and other senior management in the competent and ethical operation of the Company on a day-to-day basis, to monitor GAIN's financial performance and to evaluate overall corporate strategy. To satisfy this duty, the directors take a proactive, focused approach to their position, and set standards to ensure that the Company is committed to business success through maintenance of the highest standards of responsibility and ethics.
Mark Galant - Chairman and FounderThe founder of GAIN Capital Group, Mark Galant served as chief executive officer of the Company from its inception in October, 1999 until June, 2007. Mr. Galant's strategic vision and entrepreneurial energy propelled the firm from concept to a market leader in the rapidly growing and highly competitive online forex industry. Under his leadership, the firm achieved top line growth of 65% or more for six consecutive years (2001-2006). Prior to forming GAIN Capital, Mr. Galant was the number two executive at FNX Limited, an international provider of trading and risk management systems. During his six year tenure, Mr. Galant was instrumental in transforming FNX into a world-class software and services firm and, according to Inc. Magazine, one of the 500 fastest-growing companies in the U.S. in 1996, 1997 and 1998. Before joining FNX in 1994, Mr. Galant served as global head of foreign exchange options trading at Credit Suisse. There, he expanded a small regional operation into one of the world's largest and most respected global foreign exchange options trading organizations, trading $4 billion per day. Prior to Credit Suisse, he ran the foreign exchange options desk at Chemical Bank. He also traded all financial products as a money manager for Paul Tudor Jones at Tudor Investment Corporation. During his early years on Wall Street, Mr. Galant was a floor trader, successfully trading his own account on several of New York's commodities exchanges. He holds a BS in Finance from the University of Virginia and an MBA from Harvard Business School. Mr. Galant currently serves on the board of directors of Scivantage and is a member of the University of Virginia's McIntire School of Commerce Advisory Board.
Glenn Stevens - Chief Executive OfficerGlenn Stevens joined GAIN Capital Group in February 2000 as a founding partner and managing director, and assumed the CEO role in June, 2007. Previously, he was managing director, head of North American sales and trading at Natwest Bank. In this role, Mr. Stevens directly managed a staff of over 50 trading and sales professionals and also served as a senior member of Natwest's North American Management Committee. From 1990 to 1997, Mr. Stevens was at Merrill Lynch and Co., hired as a USD/JPY trader and eventually promoted to the bank's management team as managing director and chief dealer for Spot and Forward FX. While at Merrill Lynch, he developed the investment bank's emerging markets currency trading desk and increased profitability threefold in 2 years. During this time, he also served as the Federal Reserve Bank's FX representative for investment banks. Mr. Steven's Wall Street career began in 1984 at Bankers Trust Company. Mr. Stevens holds a BS in Finance from Bucknell University and an MBA in Finance from Columbia University.
Peter Quick, Former President, American Stock ExchangePeter Quick is the former President of the American Stock Exchange® (2000-2005) and formerly served on its Board of Governors. Prior to his appointment at the American Stock Exchange®, Mr. Quick had been President and Chief Executive Officer of Quick & Reilly, Inc., a leading national discount brokerage firm, which was acquired by Fleet Bank (now Bank of America) for $1.6 Billion in 1998. Mr. Quick is currently the lead Independent Director of Reckson Associates Realty Corp. (NYSE: RA) and also sits on the Board of Medicure (AMEX: MCU). Mr. Quick has served on the Board of Governors of the Chicago Stock Exchange and was Chairman of the Midwest Securities Trust Company. He has also been a Director of The Options Clearing Corporation, CUSIP, the Depository Trust & Clearing Corporation, the NASD Insurance Agency, and Alliance Money Market Fund. Mr. Quick received a Bachelor of Science degree in Civil Engineering from the University of Virginia and attended Stanford University's graduate school of Petroleum Engineering.
Joseph A. Schenk, former Chief Financial Officer, Jefferies GroupMr. Schenk served as chief financial officer and executive vice president at Jefferies Group (NYSE: JEF), a full-service investment bank and institutional securities firm focused on capital markets and asset management, from January 2000 to December 2007. Mr. Schenk's responsibilities at Jefferies included oversight for finance, accounting, risk, treasury, internal audit, investor relations, tax and accounting policy matters. Prior to his appointment as CFO, Mr. Schenk held various positions within Jefferies, including senior vice president, responsible for corporate services, from September 1997 to January 2000, and senior institutional account executive from September 1993 through March 1996. Prior to Jefferies, Mr. Schenk served as a senior vice president at Zimbalist Smith, a boutique investment research firm. Mr. Schenk had previously held management positions at Deloitte Haskins & Sells and Price Waterhouse. Mr. Schenk currently serves on the boards of ConvergEx Holdings and Talk.com. Mr. Schenk received a Bachelor of Science degree in Accounting from the University of Detroit, where he graduated summa cum laude.
Susanne D. Lyons, former Chief Marketing Officer, Visa USAA retail financial services industry veteran, Susanne Lyons most recently served as executive vice president and chief marketing officer at Visa USA. While at Charles Schwab & Co. from 1992-2001, Ms. Lyons held a variety of senior marketing and general management roles, culminating in the position of chief marketing officer. At Fidelity Investments from 1982-1992, Ms. Lyons was responsible for marketing multiple business lines including brokerage, domestic and international growth funds and retirement products. She has been recognized for her business leadership in several significant forums, including San Francisco Financial Woman's Association "Woman of the Year" in 1999 and as one of Ad Age's Top 50 Marketers. Ms. Lyons served on the board of CNET Networks, Inc. (Nasdaq:CNET), a global interactive media company, until its recent acquisition by CBS, and is also on the advisory boards of Marketo and Epoch, as well as the board of WildCare, a not for profit organization. She received a Bachelor of Arts degree from Vassar College and a Master's degree in Business Administration from Boston University.
Roger Tarika, Former Global Head of Foreign Exchange Sales, Morgan StanleyA 25-year veteran of the FX markets, Roger Tarika's career began in 1979 with First National Bank of Boston. In 1984, Mr. Tarika joined Morgan Stanley & Co where he began his 17 year tenure running various spot FX trading desks. In 1992, Mr. Tarika was appointed head of trading for the New York spot/forward desk and in 1995 was appointed to run the FX desk in London, managing 50 sales and trading professionals. His most recent position at Morgan Stanley was Managing Director, Global FX Sales Manager. Mr. Tarika received a BS from Duke University and an MBA from Harvard Business School.
Gerry McCrory, Managing Director, Cross Atlantic Capital PartnersGerry McCrory is a founder and managing director of Cross Atlantic. In 1998, Mr. McCrory founded Crucible Corporation, an early stage venture capital fund headquartered in Dublin, Ireland. Prior to starting Crucible, Mr. McCrory was the managing director of Cambridge Technology Partners (Ireland). Prior to that, he started his own software services company, Information Mosaic, and held various senior commercial responsibilities at Cap Gemini-Hoskyns in Ireland, Great Britain, and the United States. He also worked as an accountant with Coopers & Lybrand in both Ireland and the Cayman Islands. Mr. McCrory holds a degree in Economics from the University of Ulster and an MBA from University College Dublin.
Chris Sugden, General Partner, Edison Venture FundChris Sugden is a successful entrepreneur and technology company executive, experienced in finance, capital raising, strategy, product management and sales and marketing. Prior to joining Edison, Mr. Sugden served as Princeton eCom's EVP of the Electronic Billing Division. As CFO he led the business development, finance and accounting departments. Earlier in his career, he was Director of Finance and Operations for two magazine start-ups and Internet businesses funded by Freedom Communications. A certified public accountant, Mr. Sugden also spent over four years with PricewaterhouseCoopers in the entrepreneurial services group. Mr. Sugden received a BA in Accounting and Finance from Michigan State University.
Jim Mills, Managing Director, VantagePoint Venture PartnersJim Mills is a member of the Information Technology Group at VantagePoint Venture Partners, focusing specifically on software and financial technology companies. Mr. Mills has 18 years of technology, operating, and investment experience, including management positions with both start-up and industry-leading technology companies, including Webvan Group, Oracle Corporation, and Crescendo Communications (acquired by Cisco). Mr. Mills began his investment career with Battery Ventures followed by Blum Capital Partners. He graduated magna cum laude and Phi Beta Kappa from Dartmouth College (BA in Engineering Sciences) and is also a graduate of Stanford University (MBA).
Ken Hanau, Managing Partner, 3iKen Hanau is the Managing Partner of 3i US. As part of the FTSE 100, 3i is one of the world's largest growth capital investors deploying over $2bn annually in established businesses across Europe, Asia and the US. Prior to joining 3i, Mr. Hanau held senior positions with Weiss Peck and Greer and Halyard Capital. In addition to his private equity experience, Mr. Hanau worked in investment banking at Morgan Stanley and at K&H Corrugated Case Corporation. Mr. Hanau is a CPA and began his career with Coopers and Lybrand. Mr. Hanau received his B.A. with honors from Amherst College and his M.B.A. from Harvard Business School.
is the former President of the American Stock Exchange® (2000-2005) and formerly served on its Board of Governors. Prior to his appointment at the American Stock Exchange®, Mr. Quick had been President and Chief Executive Officer of Quick & Reilly, Inc., a leading national discount brokerage firm, which was acquired by Fleet Bank (now Bank of America) for $1.6 Billion in 1998. Mr. Quick is currently the lead Independent Director of Reckson Associates Realty Corp. (NYSE: RA) and also sits on the Board of Medicure (AMEX: MCU). Mr. Quick has served on the Board of Governors of the Chicago Stock Exchange and was Chairman of the Midwest Securities Trust Company. He has also been a Director of The Options Clearing Corporation, CUSIP, the Depository Trust & Clearing Corporation, the NASD Insurance Agency, and Alliance Money Market Fund. Mr. Quick received a Bachelor of Science degree in Civil Engineering from the University of Virginia and attended Stanford University's graduate school of Petroleum Engineering.
Joseph A. Schenk, former Chief Financial Officer, Jefferies GroupMr. Schenk served as chief financial officer and executive vice president at Jefferies Group (NYSE: JEF), a full-service investment bank and institutional securities firm focused on capital markets and asset management, from January 2000 to December 2007. Mr. Schenk's responsibilities at Jefferies included oversight for finance, accounting, risk, treasury, internal audit, investor relations, tax and accounting policy matters. Prior to his appointment as CFO, Mr. Schenk held various positions within Jefferies, including senior vice president, responsible for corporate services, from September 1997 to January 2000, and senior institutional account executive from September 1993 through March 1996. Prior to Jefferies, Mr. Schenk served as a senior vice president at Zimbalist Smith, a boutique investment research firm. Mr. Schenk had previously held management positions at Deloitte Haskins & Sells and Price Waterhouse. Mr. Schenk currently serves on the boards of ConvergEx Holdings and Talk.com. Mr. Schenk received a Bachelor of Science degree in Accounting from the University of Detroit, where he graduated summa cum laude.
Susanne D. Lyons, former Chief Marketing Officer, Visa USAA retail financial services industry veteran, Susanne Lyons most recently served as executive vice president and chief marketing officer at Visa USA. While at Charles Schwab & Co. from 1992-2001, Ms. Lyons held a variety of senior marketing and general management roles, culminating in the position of chief marketing officer. At Fidelity Investments from 1982-1992, Ms. Lyons was responsible for marketing multiple business lines including brokerage, domestic and international growth funds and retirement products. She has been recognized for her business leadership in several significant forums, including San Francisco Financial Woman's Association "Woman of the Year" in 1999 and as one of Ad Age's Top 50 Marketers. Ms. Lyons served on the board of CNET Networks, Inc. (Nasdaq:CNET), a global interactive media company, until its recent acquisition by CBS, and is also on the advisory boards of Marketo and Epoch, as well as the board of WildCare, a not for profit organization. She received a Bachelor of Arts degree from Vassar College and a Master's degree in Business Administration from Boston University.
Roger Tarika, Former Global Head of Foreign Exchange Sales, Morgan StanleyA 25-year veteran of the FX markets, Roger Tarika's career began in 1979 with First National Bank of Boston. In 1984, Mr. Tarika joined Morgan Stanley & Co where he began his 17 year tenure running various spot FX trading desks. In 1992, Mr. Tarika was appointed head of trading for the New York spot/forward desk and in 1995 was appointed to run the FX desk in London, managing 50 sales and trading professionals. His most recent position at Morgan Stanley was Managing Director, Global FX Sales Manager. Mr. Tarika received a BS from Duke University and an MBA from Harvard Business School.
Gerry McCrory, Managing Director, Cross Atlantic Capital PartnersGerry McCrory is a founder and managing director of Cross Atlantic. In 1998, Mr. McCrory founded Crucible Corporation, an early stage venture capital fund headquartered in Dublin, Ireland. Prior to starting Crucible, Mr. McCrory was the managing director of Cambridge Technology Partners (Ireland). Prior to that, he started his own software services company, Information Mosaic, and held various senior commercial responsibilities at Cap Gemini-Hoskyns in Ireland, Great Britain, and the United States. He also worked as an accountant with Coopers & Lybrand in both Ireland and the Cayman Islands. Mr. McCrory holds a degree in Economics from the University of Ulster and an MBA from University College Dublin.
Chris Sugden, General Partner, Edison Venture FundChris Sugden is a successful entrepreneur and technology company executive, experienced in finance, capital raising, strategy, product management and sales and marketing. Prior to joining Edison, Mr. Sugden served as Princeton eCom's EVP of the Electronic Billing Division. As CFO he led the business development, finance and accounting departments. Earlier in his career, he was Director of Finance and Operations for two magazine start-ups and Internet businesses funded by Freedom Communications. A certified public accountant, Mr. Sugden also spent over four years with PricewaterhouseCoopers in the entrepreneurial services group. Mr. Sugden received a BA in Accounting and Finance from Michigan State University.
Jim Mills, Managing Director, VantagePoint Venture PartnersJim Mills is a member of the Information Technology Group at VantagePoint Venture Partners, focusing specifically on software and financial technology companies. Mr. Mills has 18 years of technology, operating, and investment experience, including management positions with both start-up and industry-leading technology companies, including Webvan Group, Oracle Corporation, and Crescendo Communications (acquired by Cisco). Mr. Mills began his investment career with Battery Ventures followed by Blum Capital Partners. He graduated magna cum laude and Phi Beta Kappa from Dartmouth College (BA in Engineering Sciences) and is also a graduate of Stanford University (MBA).
Ken Hanau, Managing Partner, 3iKen Hanau is the Managing Partner of 3i US. As part of the FTSE 100, 3i is one of the world's largest growth capital investors deploying over $2bn annually in established businesses across Europe, Asia and the US. Prior to joining 3i, Mr. Hanau held senior positions with Weiss Peck and Greer and Halyard Capital. In addition to his private equity experience, Mr. Hanau worked in investment banking at Morgan Stanley and at K&H Corrugated Case Corporation. Mr. Hanau is a CPA and began his career with Coopers and Lybrand. Mr. Hanau received his B.A. with honors from Amherst College and his M.B.A. from Harvard Business School.


Thursday, December 10, 2009

Dubai stays in Dubai.

Diane Garnick, investment strategist at Invesco, dubbed Dubai a "Las Vegas wannabe" because of its hotel boom:
"The one thing that Dubai completely aced about Las Vegas is that what happens in Dubai stays in Dubai. This crisis won't spread."
Garnick is concerned that state and local governments are over-extended:
"State and local governments are in big trouble. I like to call it the new and improved S&L crisis. In this case, S&L is state and local governments."
Garnick is also bearish about gold:
"The place where I would stay away from like crazy is gold. There isn't a reasonable investor out there who doesn't think gold is at a peak."
Minyanville Media Chief Executive and hedge fund manager Todd Harrison:
"Be careful for what you wish for, for everyone who is saying, 'If only the dollar could strengthen.' In this asset class, deflation versus dollar devaluation dynamic, I believe both can decline as we saw last year. But I don't foresee a scenario where both the dollar and asset classes can rise in sync."
Thomas Metzold, municipal bond fund manager at Eaton Vance, expects many more governments will have their credit ratings downgraded:
"The list is endless. We've got a situation that is probably as bad as I've seen in my 22-plus years."
That doesn't mean many issuers will actually default on their debt, however, he said:
"We're going to have a lot of downgrades but we're not going to have a lot of defaults."
Author and investor Jim Rogers remains a believer that the dollar will decline over the long term. But he sees room for gains right now:
"There are too many bears and normally when there are too many bears it leads to a rally."
Ultimately, the dollar will continue to decline because of the fundamental problems in with the United States economy, Rogers says, pointing to the 90 percent drop in the value of the British pound in the 20th century:
"No country in history that has gotten itself into this situation has gotten itself out without a crisis."
"I don't think this is the bottom. We're going to have more problems in the world economy. We're papering over the problems more than anything else."

Wednesday, December 2, 2009

Credit market


On Friday, October 3rd, at 0830ET/1230GMT, US September employment data will be released. We expect the headline NFP number will come in roughly in line with consensus forecasts of -105K, but think the unemployment rate may edge up to 6.2/6.3% versus market expectations of a steady 6.1% unemployment rate. The risk is that the headline NFP shows a larger drop in jobs, potentially owing to strike- or hurricane-related adjustments. Interim economic data (weekly claims, labor differential in Consumer confidence report, ISM manufacturing employment dropping from 49.7 to 41.8) have shown a deterioration in overall labor market conditions, so the risks are clearly skewed to a weaker NFP. We would not be surprised by a NFP job loss of -150/-170K. And be alert for a negative revision to August NFP. But the NFP report is not the only show in town tomorrow, as markets will anxiously be watching to see if the US House can pass the financial sector rescue package. We are highly optimistic that additions to the Senate-passed bill will lead to the bill's passage, and we think this will be greeted enthusiastically by investors. The result could be a significant rally in stocks and a rush to riskier assets, which in FX means buying of JPY-crosses (e.g. EUR/JPY or AUD/JPY). The rescue package may also alleviate credit market strains, reducing demand for USD from bank funding needs. Trading Strategy: Because we think the risks are skewed to a weaker NFP reading, we anticipate an initially negative USD reaction. But we think USD strength this week is likely to see heavy buying of USD on such weakness, leading to a short-term reversal of the initial reaction. From then, we look for JPY-cross buying to materialize based on the prospect of House passage of the rescue bill. If correct, such buying should put a floor under non-JPY dollar pairs, like EUR/USD and GBP/USD. The rest of the session could then see a grind higher in the JPY-crosses, sending EUR/USD, GBP/USD and AUD/USD higher on the day, aided by week-end short-covering in EUR/USD/profit-taking on long USD positions. In concrete terms, a NFP reading of between -100K/-150K could see EUR/USD jump higher by 60-90 pips from pre-release levels, followed by heavy selling then sending the pair down 100-120 pips from its post-NFP reaction high. From there, we then expect that short-covering and outright buying of EUR/JPY will see EUR/USD grind higher. We will be closely watching a long-term trend line that guided the EUR higher since early 2002, currently at 1.3910/30 area. We would stop out (exit) of long EUR/USD positions if it trades below 1.3710/20, roughly 30 points below today's low. We think a short-squeeze higher in EUR/USD is likely on strength over 1.3950/60. Disclaimer: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

US has failed to register

The Fed's Beige Book, which offers a wealth of anecdotal evidence as to the health of the US economy, is due up tomorrow (June 11th) at 14:00ET. This could be a significant turning point for the US dollar that will either confirm and extend its recent gains, or lead to a significant pullback for the Greenback. We believe the four main categories to focus on in the report are the labor market, consumer spending, inflation and lending standards. Given the sharp move up in the unemployment rate and the fact that the US has failed to register even one positive nonfarm payrolls number this year, the Beige Book's labor market assessment will be key. In the April Beige Book, labor markets were described as mostly weakening. We expect something to this effect is priced in for tomorrow's release as well given the moribund employment data of late. The upside to USD could come from an assessment that the labor market is stabilizing, albeit at a low level of activity. The market will also be eager to gauge the impact to consumer spending from the government stimulus checks which began to hit mailboxes in late April/early May. In the last Beige Book, consumer spending activity was noted as slowing across most of the United States. While the latest chainstore sales numbers suggest some pickup in recent retail activity, if it is noted that the stimulus has had little broad impact on spending we will likely see US economic prospects weaken and a lower US dollar. On the inflation front, the market is looking for confirmation that inflation pressures continue to rear their ugly head. Given the steadfast increase in commodity prices and surging inflation expectations, we expect the assessment to be quite hawkish. This will help keep US yields elevated and add further support to the USD, with USD/JPY especially sensitive to higher interest rates of late. The fourth area of focus is likely to be on the lending side. The credit turmoil has been noted as ongoing by Fed officials and the market likely expects a similar assessment to what we witnessed in the last Beige Book when lending standards were said to have tightened (making it harder for the average person to get a loan approved). An indication that lending standards have eased will likely fuel speculation that the credit crisis is approaching it nadir and help boost the USD. In sum, if the good news on these key economic indicators outweighs the bad we can expect EUR/USD to retest 1.5400 and USD/JPY to come near the 108.00 level. In such a case, the report will validate recent comments from Fed Chairman Bernanke that the economic situation has improved somewhat while rising inflation remains a big risk. However, if the labor situation and consumer spending are downgraded significantly, this will outweigh higher inflation or an improvement in lending activity and likely take the Greenback lower towards EUR/USD 1.5600 and USD/JPY near 106.50. Disclaimer: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Tuesday, December 1, 2009

The promotion and preservation of Nepali handicrafts

The government is trying to replace the Himal Cement Area with an international level handicraft village for the promotion and preservation of Nepali handicrafts.Speaking at seminar on ‘Effects and solutions in the use of Cadmium in Silver’ organised by the Federation of Handicraft Association of Nepal (FHAN), Industry Minister Mahendra Kumar Yadav said, “The government is working to grant the Himal cement area for the construction of an international level handicraft village.”Earlier, FHAN presented a tentative plan to develop a handicraft village that would have 12 products — with each product having one cluster — and 20 enterprises. Tentative clusters will be of metal craft, handmade paper, woollen and silk carpets, gems and jewellery, gold and silver, wood carving, Thanka and modern painting, pottery and ceramics, stone carving, pashmina and handloom products, folklore garments made of natural fabric and an auxiliary factory for accessories for handicraft products.According to FHAN, the industry employs 1,33,524 people — 14.56 per cent of the total craft related employment in Kathmandu, according to the population census of 2001 AD. Though FHAN has been trying to establish the handicraft village it was lacking government support. Now, with government initiatives for allowing Himal cement area to be used for the development of a handicraft village FHAN is hopeful of the project materialising.The association has also drawn up a tentative plan for an eco-friendly handicrafts village which will also inform tourists about the ethnicity of Nepal.Minister’s assuranceKATHMANDU: Minister Yadav during the seminar assured of providing the necessary support to help maintain the standard of silver products — a major exportable item. According to him, there must be a public private partnership and FHAN along with the concerned bodies should promptly make a decision on drawing up a mechanism to stop the use of cadmium in silver. FHAN president Pushkar Man Shakya said the use of cadmium should be stopped or else the EU would stop the import of Nepali silver jewellery. To establish Nepali jewellery as cadmium-free, FHAN is working to bring a spectrometer for checking the presence of cadmium in silver before dispatching it to the market. Meanwhile, Trade and Export Promotion Center director Ramesh Kumar Shrestha urged Nepal Bureau of Standards and Metrology to concentrate on the issue and develop a certification mechanism for gold and silver. — Gold this week closed at Rs 24,135 per 10 gram. According to Nepal Gold and Silver Dealers’ Association (NEGOSIDA), domestic market for gold opened at Rs 24,005 per 10 gram and remained at the same price on Monday. With a fall of Rs 170, gold was traded for Rs 23,385 on Tuesday. With an increment of Rs 300, gold got traded for Rs 24,135 per 10 gram on Wednesday and Thursday. Gold closed at the same price that is Rs 24,135 per 10 gram on Friday. Meanwhile, silver opened at Rs 364.50 per 10 gram on Sunday and was traded for the same price on Monday. Silver priced at Rs 368 on Tuesday. Silver was traded for Rs 373 per 10 gram on Wednesday, Thursday and closed at the same price on Friday, said NEGOSIDA. — HNS

Forecasting job


Employers throttled back on layoffs in July, cutting just 247,000 jobs, the fewest in a year, and the unemployment rate dipped to 9.4 percent, its first decline in 15 months.It was a better-than-expected showing that offered a strong signal that the recession is finally ending.The new snapshot, released by the Labor Department on Friday, also offered other encouraging news: workers' hours nudged up after sinking to a record low in June, and paychecks grew after having fallen or flat lined in some cases.To be sure, the report still indicates that the jobs market is on shaky ground. But the new figures were better than many analysts were expecting and offered welcomed improvements to a part of the economy that has been clobbered by the recession.Analysts were forecasting job losses to slow to around 320,000 and the unemployment rate to tick up to 9.6 percent."There's clearly been a turn for the better. The worst is behind us in terms of layoffs. Now we need to see more hiring," said economist Ken Mayland, president of ClearView Economics.The dip in the unemployment rate — from June's 9.5 percent — was the first since April 2008. One of the reasons the rate went down, however, was because hundreds of thousands of people left the labor force. Fewer people, though, did report being unemployed.All told, there were 14.5 million out of work in July.If laid-off workers who have given up looking for new jobs or have settled for part-time work are included the unemployment rate would have been 16.3 percent in July. That's down from 16.5 percent in June, which was the highest on records dating to 1994.Also heartening: job losses in May and June turned out to be less than previously reported. Employers sliced 303,000 positions in May, versus 322,000 previously logged. And, they cut 443,000 in June, compared with an earlier estimate of 467,000.The job cuts made in July were the fewest since August 2008.The slowdown in layoffs in part reflected fewer jobs cuts in manufacturing, construction, professional and business services and financial activities — areas that have been hard hit by the collapse of the housing market and the financial crisis. There also were fewer layoffs in the temporary-help industry, which analysts watch for clues about future hiring. Retailers, however, cut more jobs in July.Those losses were blunted by job gains in government, education and health services, and in leisure and hospitality.The worst of the job cuts have passed.The deepest job cuts of the recession came in January, when 741,000 job disappeared, the most in any month since 1949.Since the recession began in December 2007, the economy has lost a net total of 6.7 million jobs.Slower job losses are occurring because companies aren't cutting investment and spending as drastically as they had been during the depths of the recession which came in the final quarter of last year and carried over into the first quarter of this year.With companies feeling a bit better about the economy's prospects and their own, they boosted workers' hours in July. The average work week rose to 33.1 hours, after having fallen to 33 hours in June, the lowest on records dating to 1964.And, employers bumped up wages.Average hourly earnings rose to $18.56 in July, up from $18.53 in June. Hourly earnings were stagnant in June. Average weekly earnings, which fell in June, rose to $614.34. Those gains raised hopes that consumers — whose spending accounts for the single-largest slice of economic activity — will feel more confident and more inclined to spend in the months ahead, thus helping the recovery.Other recent barometers have shown some improvements in manufacturing, housing and construction activity.The government reported last week that the economy shrank at a pace of just 1 percent from April-to-June, another sign the recession is winding down.Many analysts predict the economy could start growing again in the current July-to-September quarter. And, the Fed recently observed that the economy is finally showing signs of stabilizing in some regions of the country — especially in parts of the Northeast and Midwest — bolstering hopes of a broader-based recovery this year.Even with the improvements, it will take time for the jobs market to fully heal.The Federal Reserve has predicted the unemployment rate is likely to top 10 percent this year. Some Fed officials think it could rise as high as 10.6 percent in 2010. The post-World War II high was 10.8 percent at the end of 1982, when the country suffered through a severe recession.An elevated unemployment rate could become a political liability for President Barack Obama when congressional elections are held next year. The last time the unemployment rate topped 10 percent, the party of the president — then Ronald Reagan's GOP — lost 26 House seats in the midterm elections in 1982.Obama has urged Americans to be patient and give time for his $787 billion stimulus package of tax cuts and increased government spending to take hold. Most of the money will flow in 2010.When the economy is healthy, employers add a net total of around 125,000 jobs a month just to keep the unemployment rate stable. To get the jobless rate down to a more normal 5 percent range, it would take stronger job growth — of at least 200,000 jobs a month. Economists say it might take until 2013 to drive down the unemployment rate to 5 percent.

Annual profit

Exxon Mobil Corp. unseated Wal-Mart Stores Inc. in the 2009 Fortune 500 list, shrugging off the oil price bubble and weathering what the magazine called the worst year ever for the country's largest publicly traded companies.Fortune's closely watched list, released Sunday, ranked companies by their revenue in 2008. Irving, Texas-based Exxon took in $442.85 billion in revenue last year, up almost 19 percent from 2007. The company also raked in the biggest annual profit, earning $45.2 billion.Bentonville, Ark.-based Wal-Mart had held the top spot for six of the last seven years but fell to No. 2 this year. Still, the retail giant's 2008 revenue climbed 7 percent to $405.6 billion, as the battered economy sent more sumers seconarching for bargains. The world's largest retailer took in $13.4 billion in annual profit, an increase of about 5 percent.Although it may have been a good year for Exxon and Wal-Mart, 2008 was far from rosy for most of remaining companies on the list. Overall earnings plunged 85 percent to $98.9 billion from $645 billion in 2007, the biggest one-year decline in the 55-year history of the Fortune 500 list."America is getting used to the sound of bubbles bursting," Fortune said.Energy companies continued to dominate many of the top positions, as last summer's skyrocketing oil and gas prices more than compensated for their plunge later that fall. Chevron Corp. held on to third place with $263.16 billion in revenue, up 25 percent. ConocoPhillips climbed one place to fourth, with $230.76 billion in revenue.General Electric Co., the diverse conglomerate whose troubled financial arm has been weighing on recent results, rose one notch to fifth. Battered automaker General Motors Corp. fell two spots to sixth, as revenue fell 18 percent and losses totaled $30.86 billion amid the imploding car market. Crosstown rival Ford Motor Co. followed, with $146.28 billion in revenue.Telecom giant AT&T Inc. moved up two notches to take eighth place, with Hewlett-Packard Co. and Valero Energy Corp. rounding out the top 10.Among the hardest hit in 2008 were financial services companies, Fortune said. Banks, securities firms and insurers took cumulative losses of $213.4 billion, accounting for almost 70 percent of the total dollar decline from the peak year of 2006, the magazine said. Citigroup Inc. and Bank of America Corp., which were No. 8 and No. 9 respectively last year, each slipped a couple notches from the Top 10.Thirty-eight companies fell off this year's list, including financial firms Lehman Brothers Holdings Inc., Washington Mutual Inc. and Wachovia Corp., all of which have either gone under or been acquired by rival banks.Engineering and construction company URS Corp. moved the most up the list, leaping 185 spots to No. 264. But the title of "biggest loser" went to AIG Corp. The insurer, which has received more than $180 billion in government bailout aid since last fall, fell 232 spots to 245 in this year's ranking.

Sunday, November 29, 2009

Sound financial future

"I realized several years back the FOREX is the best opportunity available to every day people like me to build a sound financial future. See you in the trade rooms.""2006 is the year of financial freedom for me - "I can feel it in my bones." I know it's coming and I know that forex trading is the key. Once I learn to master this skill my life never be the same - none of our lives will.""I'm 18 years old, and im interested in doingcurrency trading. I have no previous experience in FX training, trading, or any other type related to this, but i hope to catch on quickly. I've wanted to invest in real estate since I was 14, and have studied it on and off since then, but I think this is agreater financial and career establishing opportunity, and im trying to learn as much as I can.""I have no experience in the financial world I don't even balance the check book! BUT I do know that I can do this and so can you!! So far I have been successful...I promise its not hard.""I come into this enterprise with miniscule experience as a trader and just enough knowledge about fx to lose my shirt in 5 minutes or less. I’m here to learn a workable system for foreign exchange trading. I like the concept of being ableto make money from anywhere I can take my laptop.""I am new to forex trading. My expectation in this course is to build a base of understanding and knowledge of the forex exchange. My goal is to learn how to trade effectively to retire from my 9-5 within the next three years if not sooner. My challenge is to leave emotions out and follow the fundamental rules to become a successful trader.""I have been with FXT since February 2005 and have enjoyed the program very much. My wife and I have been busy learning how to be successful traders over the last few months. Our goals are to become financially successful so we can provide more for our church and spread the Lord's word acorss the world. May God bless us all abundantly through this wonderful program.""I am new to Forex Trading. I've played the HYIP game and I look forward to learning a skill that will provide me the opportunity to be successful based on how I apply what I have learned. Success is a choice and I plan on being successful.""I am a retired airline pilot who has done a little commodity trading in the past, however, have always been very intrigued by the FX market. Now that I have completed the beginner's and advanced training from FXT, I am doing a review with the new Interactive Training Modules. I'm pleased to report that I am already having success in live trading, and am VERY excited about the FX market and the FXT products and business!What a fantastic opportunity!""I am looking forward to learning and trading the forex market. Some years ago, I traded options with some success, but discovered the forex market could be more rewarding. So looking forward to learning.""I joined one month ago and have been in corporate chat rooms. I am up over 130 pips and really just learning! I spent over $7000 on other systems and training and couldn't make money. FXT is FANTASTIC!""I found out about forex while looking for a new career. I have bookkeeping experience but thats about it! I love the concept of this type of trading and look forward to learning the skills and "enjoying the game"."I'm very excited to learn about Forex. I want to build my skills so that I can generate enough from Forex to raise my kids and sustain a nice life style as well as have time to help others.""I started with FXT about 3 weeks ago and I am excited to have an opportunity to learn how to be a FX Trader the right way. At 58 I feel like I am going to college for the first time, but my mentor has made me feel quite comfortable here. I feel I have finally found a home with FXT and working in the FX currency market.""I am looking forward to opportunity and education that is offered by FxT. The interaction that the business provides through this learning center and the potential for positively changing your life is exciting."The global Forex market which is widely known as the foreign exchange or the currency trading market has become one of the most popular markets to deal with in the last few years. With the increase in the global economy, a lot of people have started trading in Forex. Prior to this, the economy was not spread over all the countries. It is now possible for people to convert large sum of money into different currencies. This market is the largest in the world and includes all kinds of investors including banks, other financial institutions and other individual investors. The daily volume of trade in the forex market exceeds four trillion dollars and hence it appears to be quite a lucrative market to venture in.There are quite a few things that would separate the forex trading from the conventional markets. The trading volume differs greatly and then follows the other factors such as the exchange rates and lower profits. Hence a lot of people are turning towards the global foreign exchange market to beat the competition and this market has a demonstrated track record of its increase since 2001.The other way in which the forex market differs from the traditional market is that here the inter-bank market is at the top of the pyramid. Unlike the stock options, the investors to not have a same access to all the prices. It differs greatly. As the level of access is decreased, the difference between the asking price and the bidding price also increases. Hence it is still possible for someone with lower access to earn large amounts of money.At the same time as there is no central market involved in forex, there are no specific regulations that control the exchange. Global trading system in forex includes quite a lot of countries and hence compiles an intertwined market. Therefore there is not much of the single trading system here considering the scores of different prices and rates. These differences in the exchange have a direct effect on the gross domestic product, the inflation rates as well as the trade and the budgets of the economic transactions.There are a lot of people who plunge into the forex trading market in order to invest large sum of money and with the intention of making more money from it. This financial market is still on a rise, despite the recessive economy all around the world. A lot of new invest

Friday, November 27, 2009

Foreign exchange markets

Forex trading also known as currency trading refers to a series of transactions on foreign exchange markets used by investors for speculative or hedging purposes. A basic forex transaction consists in the simultaneous buying and selling of one currency against another. Currencies are thus traded in pairs (majors or crosses) for instance: the Euro against the US Dollar (EUR/USD) or the British Pound against the US Dollar (GBP/USD). For example, buying the pair EUR/USD at 1.3305 means that you need 1.3305 USD to buy one euro.Trading forex can also be described as speculating on the direction of one currency against another. You make profit when the market moves in your favor and you lose if the market moves against you. For example, you'll buy EUR/USD if you think that the Euro will strengthen against the US Dollar. Conversely, if you think the Euro will weaken compared to the US Dollar, then you will sell EUR/USD.Although it may seem easy at first glance, there is much more to forex than meets the eye. Predicting market moves is a complicated matter and that's why Finotec has its own online forex Education Center where you can learn Forex. With Finotec, you may also practice online trading by opening a Forex Demo Account. The simulation platform will allow you to trade with virtual money in real market conditions. Once you have acquired the skills to trade, use our wide range of tools and indicators to make wise and informed decisions for successful online forex trading.Forex: the largest financial market!The investor's goal in Forex trading is to profit from foreign currency movements. Forex trading or currency trading is always done in currency pairs. For example, the exchange rate of EUR/USD on Aug 26th, 2003 was 1.0857. This number is also referred to as a "Forex rate" or just "rate" for short. If the investor had bought 1000 euros on that date, he would have paid 1085.70 U.S. dollars. One year later, the Forex rate was 1.2083, which means that the value of the euro (the numerator of the EUR/USD ratio) increased in relation to the U.S. dollar. The investor could now sell the 1000 euros in order to receive 1208.30 dollars. Therefore, the investor would have USD 122.60 more than what he had started one year earlier. However, to know if the investor made a good investment, one needs to compare this investment option to alternative investments. At the very minimum, the return on investment (ROI) should be compared to the return on a "risk-free" investment. One example of a risk-free investment is long-term U.S. government bonds since there is practically no chance for a default, i.e. the U.S. government going bankrupt or being unable or unwilling to pay its debt obligation.

A new wave of positive reports moved markets this week

The Brazilian currency ended a third week of straight gains versus the greenback, the pound and several other major currencies as optimism and risk appetite is pushing traders to inject money in South America’s wealthiest economy.A new wave of positive reports moved markets this week, causing equities and commodities to rise globally, favoring the outlook for the Brazilian currency and economy, since most of the nation’s exports are commodity-based, influencing the real’s performance as demand fluctuates. Risk appetite also brought investors to inject capital in real-priced assets, as interest rates in Brazil remain among the highest in the world and a series of IPOs is likely to move markets in Brazil until the end of the year. The Brazilian real also touched the highest level in 10 years versus the British pound as the financial system is the U.K. is struggling to recover from the credit crunch.Analysts refer real’s consecutive weekly gains partially to capital inflow towards the South American nation, which is experiencing a bullish market as risk appetite provided support for Bovespa, Sao Paulo stock exchange to climb severely, since it bottomed in the first quarter facing the consequences of the global slump. The forecast for the real remains optimistic, and further gains can be expected if the economy continues on its recovery path.USD/BRL closed the week at 1.8039 from an opening price of 1.8060 yesterday. GBP/BRL traded at 2.9555 from 2.9686.If you want to comment on the Brazilian real’s recent action or have any questions regarding this currency, please, feel free to reply below.

world's financial

(NAPSI)-The U.S. economy may be down--as well as the rest of the world's financial markets--but banks are hiking their fees again and Americans struggling through these tough times are the ones taking the hit to their wallets. The decision by several large national banks to hike credit card interest ratePrepaid re loadable debit cards offer the best financial management option today. Consumers are looking for a system to help them pay bills, make purchases and save money, and prepaid debit cards help by giving users control of their spending.Meanwhile, bank customers are continuing to be heavily affected by increased fees and interest rate hikes. According to the Federal Deposit Insurance Corp., last year, United States banks and savings institutions collected $39.5 billion in deposit-account charges. In addition, research firm Moebs Services, Inc. found that the financial industry's median overdraft charge has increased 10 percent--to $27.50--in the six months since banks began receiving money under the Troubled Asset Relief Program (TARP), a program started last year by the U.S. government to purchase assets and equity from financial institutions in order to strengthen the financial sector.Prepaid debit cards are the viable alternative to the fees and interest rates that consumers are currently paying. These cards are able to offer many of the benefits of the larger banks--online access and bill pay, instant account alerts--and even some that banks can't, such as a savings account with a 5 percent annual percentage yield.While banks are taking more money out of Americans' wallets, NetSpend prepaid debit cards are helping people put that money back, and even providing them with money management tools and features that enable them to better track spending and put money away for the future.XTRL, what does is mean? Where did this term come from? XTRL it is an old acronym for Control. It can be used interchangeably with CTRL. This site is about taking charge of your surroundings and having more to say about what goes on in your life. From what you buy to how much you pay in taxes, even funeral expenses, you can have more control over your situation no matter what that might be If you want more input over the decisions others are making for you then you should find this web site helpful. We can show you how to save money and time. and take back XTRL.

The pound fell to the lowest level


The Great Britain pound dropped to the lowest rates in several years against the dollar and the yen and the weekly low against the euro today after the BoE Governor Mervyn King said that the recession is very likely due to the worst banking crisis since World War I.The pound fell to the lowest level since September 2003 against the U.S. dollar as the investors expected the first year with the negative GDP change in more than 17 years. Traders also react on the expectations of the minutes of the last interest rate meeting by the Bank of England that will be released today.The traders also expect that the current interest rate of 4.5 percent will be cut soon; the total cut may reach 2 percent in one year. A return to $1.5 per pound rate doesn’t look improbable now.GBP/USD fell from 1.6694 to 1.6298 as of 8:28 GMT today, reaching the daily minimum at 1.6203. GBP/JPY declined from 167.53 to 161.55 today, losing more than 3.5% in a single trading session and reaching the lowest level since December 2000. EUR/GBP rose from 0.7820 to 0.7904 today.Traders on the Foreign Exchange market, Forex market for short, can potentially make thousands of dollars based on the volatility and fluctuations of a country’s currency. To better themselves and have a leading advantage over other traders, some Forex traders and investors participate in a practice known as news trading. The risks are very high, but the potential gains can be worth thousands of dollars and many traders and investors use this technique.The technique of news trading is quite simple. It is the trading of foreign currency immediately before or after an important economic news announcement. After such announcements, there is a high possibility that market prices will fluctuate, either for the better or worse, depending on the announcement. For example, if the U. S. Federal Reserve announces another increase of the interest rate, many traders might invest in the U.S. dollar as it is expected that its value will appreciate. The main advantage of news trading is the potential for a country’s currency to make huge gains or losses in very little time. Within minutes of an economic announcement, a country’s currency can gain or lose one hundred points almost instantly. The potential of huge profits attracts Foreign Exchange traders and investors, however there are various risks associated with news trading.Like any investment, there is always a risk, and news trading on the Forex market is no different. Though the potential profits are huge, the losses are also equally as large. The dangers of news trading come from the fact that a trade must be made quickly or else you are going to lose. If you are caught on the bad side of a trade, your money will be gone quicker than you can blink your eye. You will lose money so fast that there won’t even be time for you to manually close your trades, leaving you with nothing. Stop-loss orders are also potentially dangerous as there is a high probability of slippage because of the sudden price fluctuation.Though some investors and traders might get lucky trading news, there is only a small probability that you will make a profit. Even if you are an expert news trader, you should still be very, very cautious when participating in this practice. Successful news trading depends solely on how you get your news. The most successful news traders are the ones with the fastest news feeds and those that are able to quickly place their trades immediately after an announcement has been made. Even using other forms of news trading, such as placing orders above or below the market price is still a guessing game, and those traders in the market who base their trades on guesses, won’t have much money after a short time.For many Forex traders and investors, their trades are dictated by technical indicators and price indexes. Hours are spent researching every indicator, taking every risk into account and then making a decision based on everything they have studied. However, for a Forex news trader, none of this matter, and the only thing they take into account is economical news announcements.News trading is possible because the Forex market is always open, unlike many financial markets. In a financial market, securities trades of certain stocks are suspended when an important company announcement is being made. These announcements are usually made after the market has closed for the day. However, because the Foreign Exchange market is open 24 hours, any economic announcement will have direct affects on the currency of that country, and maybe others as well. In the Forex market, there are eight major currencies that are traded, as well as over seventeen derivatives to be traded as well. This means that on any given day, there will always be economic announcements from any of the major traded currencies. The major trader currencies are as follows:U.S. Dollar (USD)Great British Pound (GBP)Euro (EUR)Japanese Yen (JPY)Australian Dollar (AUD)Swiss Franc (CHF)Canadian Dollar (CAD)New Zealand Dollar (NZD)Because of the availability of each currency, currency pairs, and its derivatives, such as USD/JPY, EUR/USD, AUD/USD, as well as several others, each currency can be traded at any given time because these currencies are globally traded.Any Forex news trader or news investor will have to have the latest most up to the moment news announcements. Even if the news announcements are only a couple of minutes old, this can have devastating effects for any trader who has risked any sum of money. Most news traders like to keep an eagle eye on any news regarding economical activity, but most importantly news dealing with interest rates changes, FOMC rate decisions, retail sales figures, inflation indicators such as the consumer price index (CPI), producer price index (PPI), unemployment figures, industrial production announcements, boost in business and consumer confidence, as well as business sentiment surveys. Manufacturing sector surveys, trade balance release details, and foreign purchases of U.S. Treasuries may also prove useful for a news trader to better make decisions regarding when or when not to trade.However, it should be remembered that these news announcements can have ranging impacts on a country’s currency, and after an announcement, the volatility of a currency may greatly fluctuate. It is important to take advantage of news that creates movements in volatility that will last for a few minutes or even hours. Trading on the Forex market based solely on news is a difficult and sometimes dangerous practice. However, there are some indicators that can make a news trader’s job easier, such as breakout indicators (Bollinger bands, breakout of a candlestick bar, or a price bar). Research has proved that news announcements can impact a currency’s value quite severely, in some cases it can gain or lose anywhere from 33 pips to 124 pips, opening up the ideal trading opportunity looked for by news traders. If a news trader is able to act quickly enough, even the smallest news release can be turned into a potential profit of thousands of dollars. However, it is important to remember the volatility of such announcements, and although the profits seem endless, the losses can happen too.Tags

Thursday, November 26, 2009

Internet Marketing

Making money an easier way is every ones desire, whether new to Internet Marketing, or someone still struggling. There are many ways to make money online, but you need the right program, and a way to stand out in the crowd. I thought it would be helpful to my readers if I looked into programs that say they have an easy way to make money on the internet, and give you my view of some of them. So my first review is on World Profit, which has been around for 14 years and still growing. But before I do that, I’d like to say, there are a lot of people who have been marketing online with little or no success, because of the lack of getting the right type of traffic to their website. I mean traffic of buyers, not just lookers. The key is starting with a program that best fits your experience and skill level, where you get the right training and guidance. If you are new to Internet Marketing you’re foolish to do it alone. Those who have been struggling know what I mean. We’ll need a website, domain, traffic, and training, so it’s good to look for a program that provides all of that. Seasoned Internet Marketers need to learn methods to generate leads. General information on Internet Marketing can be found on my blog post, along with information on Affiliate Marketing. Now about World Profit, let me first say what is good about this opportunity. World Profit by far offers the easiest program to build a successful internet business. Their 14 years of internet business knowledge makes it possible to take someone with no or little experience, and train them to build a successful online business

Asian markets

Asian markets ended lower Thursday, with the strong yen hurting exporters in Tokyo while capital-raising worries and a disappointing Hong Kong debut for China Minsheng Banking Corp. hurt Chinese banks. The Nikkei 225 Average fell 0.6% to 9,383.24, China's Shanghai Composite tumbled 3.6% to 3,170.98 and Hong Kong's Hang Seng Index shed 1.8% to 22,210.41. Australia's S&P/ASX 200 slipped 0.3%, South Korea's Kospi lost 0.8% and Taiwan's Taiex dropped 0.2%. In afternoon trading, India's Sensex was down 2.1% and Singapore's Straits Times Index declined 1.1%. In Tokyo, auto and technology stocks fell after the U.S. dollar dropped to a 14-year low against the yen. Shares of Toyota Motor fell 1.2%, Canon Inc. declined 2.1% and Sony shed 1.9%. "This yen strengthening is caused by dollar selling rather than yen buying, so this is not something Japan can handle by itself," said Mizuho Securities senior technical analyst Yutaka Miura. "This trend will continue unless the Japanese government takes action, in cooperation with the U.S." News of Dubai asking for a creditor standstill at Dubai World and Vietnam's currency devaluation increased investors' aversion to risk. Andrew Sullivan, a sales trader at Main First Securities, said the regionwide decline in markets is likely only a temporary correction, given improving economic data on exports. "The macro picture of U.S. recovery and restocking is going to show you that there's an increase in the short-term exports out of Asia to do that restocking. Hence, it'll be unlikely that Asian markets collapse while exports are actually rising," he said. Vietnam's VN Index tumbled 4.1% to 482.6, after the nation's central bank devalued the currency by around 5% against the U.S. dollar and raised interest rates by a percentage point to 8% from Dec. 1. Chinese stocks fell sharply during the session, with banks again taking some harsh treatment amid worries regulators may beef up capital requirements, forcing banks to sell shares to raise funds. "We're in the period when we're still waiting for signs of policy change from Beijing," with Chinese leaders set to meet in the next few weeks to decide on next year's economic blueprint, said Huatai Securities analyst Chen Huiqin. Bank of China fell 2.9%, China Construction Bank dropped 3.6% and China Citic Bank Corp. gave up 1.7% in Hong Kong, extending a two-session losing streak; in Shanghai, the stocks fell 3.5%, 3.4% and 3.3%, respectively. On its trading debut, China Minsheng Bank lost 3.1% from its initial public offering price of 9.08 Hong Kong dollars, reflecting sector weakness, to end at HK$8.80. Minsheng's Shanghai-listed stock tumbled 5.7% on the disappointing Hong Kong debut, which came in spite of the IPO being heavily oversubscribed. Helping to narrow regional losses, gold and mining stocks got a fillip after the yellow metal logged yet another record high, boosted by continued weakness in the U.S. dollar. "There are also hopes for solid long-term demand as the governments of China, India and other newly emerging economies are trying to raise their gold holdings," said Credit Suisse analyst Shinya Yamada. In Sydney, Newcrest Mining rose 2.8% and Lihir Gold tacked on 0.6%. In Hong Kong, Zhaojin Mining Industry rose 1.2% and Shandong Gold-Mining added 2% in Shanghai, while Sumitomo Metal Mining added 1.7% in Tokyo. Separately, liquid crystal display stocks rallied on hopes that Innolux's recent purchase of Chi Mei Optoelectronics will spur further industry consolidation. AU Optronics rose 2.4% and Chunghwa Picture Tubes gained 3.8% in Taipei, while LG Display added 0.2% in Seoul. Hynix Semiconductor rose 1.1%, aided by news that its creditors have decided to send invitations seeking bids for their combined 28% stake in the chipmaker on Dec. 20. Elsewhere, New Zealand's NZX 50 rose 0.4% and Philippine shares advanced 0.8%. Indonesia's benchmark index fell 2.8% and Thailand's SET Index lost 1.4% in afternoon trading. In foreign-exchange markets, the euro and U.S. dollar struggled against the yen. The euro was recently at 131.04 yen from 132.25 yen late in New York, and at $1.5086 from $1.5143 late in New York. The U.S. dollar was at 86.83 yen recently, from 87.33 yen. Earlier, the U.S. unit dropped to 86.29 yen, its lowest level since 84.92 yen marked on July 7, 1995. The yield on 10-year Japanese government bonds fell 1.5 basis points to 1.280%, while the lead December JGB futures contract closed at 139.50, up 0.15 point. Spot gold continued its record run, touching a high of $1,195.10 a troy ounce, before slipping back. It was recently at $1,184.40, down $7.70 from New York levels. RBS head of precious metals Charles Dowsett said news of Sri Lanka's central bank buying 10 tons of gold from the International Monetary Fund was a sign of reserve diversification. "The economic news from the U.S. is still bad, so it's prudent for central banks to diversify dollar holdings," he said. January Nymex crude oil was 95 cents lower at $77.01 per barrel. U.S. markets are closed Thursday, and will reopen Friday. -Dow Jones Newswires; +65-6415-4140; markettalk@dowjones.com TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkbackAsia@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments. Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=no%2F1TU6xfjkV4lOyprHpaQ%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresNovember 26, 2009 04:31 ET (09:31 GMT)Copyright 2009 Dow Jones & Company, Inc.

Asian markets

Asian markets ended lower Thursday, with the strong yen hurting exporters in Tokyo while capital-raising worries and a disappointing Hong Kong debut for China Minsheng Banking Corp. hurt Chinese banks. The Nikkei 225 Average fell 0.6% to 9,383.24, China's Shanghai Composite tumbled 3.6% to 3,170.98 and Hong Kong's Hang Seng Index shed 1.8% to 22,210.41. Australia's S&P/ASX 200 slipped 0.3%, South Korea's Kospi lost 0.8% and Taiwan's Taiex dropped 0.2%. In afternoon trading, India's Sensex was down 2.1% and Singapore's Straits Times Index declined 1.1%. In Tokyo, auto and technology stocks fell after the U.S. dollar dropped to a 14-year low against the yen. Shares of Toyota Motor fell 1.2%, Canon Inc. declined 2.1% and Sony shed 1.9%. "This yen strengthening is caused by dollar selling rather than yen buying, so this is not something Japan can handle by itself," said Mizuho Securities senior technical analyst Yutaka Miura. "This trend will continue unless the Japanese government takes action, in cooperation with the U.S." News of Dubai asking for a creditor standstill at Dubai World and Vietnam's currency devaluation increased investors' aversion to risk. Andrew Sullivan, a sales trader at Main First Securities, said the regionwide decline in markets is likely only a temporary correction, given improving economic data on exports. "The macro picture of U.S. recovery and restocking is going to show you that there's an increase in the short-term exports out of Asia to do that restocking. Hence, it'll be unlikely that Asian markets collapse while exports are actually rising," he said. Vietnam's VN Index tumbled 4.1% to 482.6, after the nation's central bank devalued the currency by around 5% against the U.S. dollar and raised interest rates by a percentage point to 8% from Dec. 1. Chinese stocks fell sharply during the session, with banks again taking some harsh treatment amid worries regulators may beef up capital requirements, forcing banks to sell shares to raise funds. "We're in the period when we're still waiting for signs of policy change from Beijing," with Chinese leaders set to meet in the next few weeks to decide on next year's economic blueprint, said Huatai Securities analyst Chen Huiqin. Bank of China fell 2.9%, China Construction Bank dropped 3.6% and China Citic Bank Corp. gave up 1.7% in Hong Kong, extending a two-session losing streak; in Shanghai, the stocks fell 3.5%, 3.4% and 3.3%, respectively. On its trading debut, China Minsheng Bank lost 3.1% from its initial public offering price of 9.08 Hong Kong dollars, reflecting sector weakness, to end at HK$8.80. Minsheng's Shanghai-listed stock tumbled 5.7% on the disappointing Hong Kong debut, which came in spite of the IPO being heavily oversubscribed. Helping to narrow regional losses, gold and mining stocks got a fillip after the yellow metal logged yet another record high, boosted by continued weakness in the U.S. dollar. "There are also hopes for solid long-term demand as the governments of China, India and other newly emerging economies are trying to raise their gold holdings," said Credit Suisse analyst Shinya Yamada. In Sydney, Newcrest Mining rose 2.8% and Lihir Gold tacked on 0.6%. In Hong Kong, Zhaojin Mining Industry rose 1.2% and Shandong Gold-Mining added 2% in Shanghai, while Sumitomo Metal Mining added 1.7% in Tokyo. Separately, liquid crystal display stocks rallied on hopes that Innolux's recent purchase of Chi Mei Optoelectronics will spur further industry consolidation. AU Optronics rose 2.4% and Chunghwa Picture Tubes gained 3.8% in Taipei, while LG Display added 0.2% in Seoul. Hynix Semiconductor rose 1.1%, aided by news that its creditors have decided to send invitations seeking bids for their combined 28% stake in the chipmaker on Dec. 20. Elsewhere, New Zealand's NZX 50 rose 0.4% and Philippine shares advanced 0.8%. Indonesia's benchmark index fell 2.8% and Thailand's SET Index lost 1.4% in afternoon trading. In foreign-exchange markets, the euro and U.S. dollar struggled against the yen. The euro was recently at 131.04 yen from 132.25 yen late in New York, and at $1.5086 from $1.5143 late in New York. The U.S. dollar was at 86.83 yen recently, from 87.33 yen. Earlier, the U.S. unit dropped to 86.29 yen, its lowest level since 84.92 yen marked on July 7, 1995. The yield on 10-year Japanese government bonds fell 1.5 basis points to 1.280%, while the lead December JGB futures contract closed at 139.50, up 0.15 point. Spot gold continued its record run, touching a high of $1,195.10 a troy ounce, before slipping back. It was recently at $1,184.40, down $7.70 from New York levels. RBS head of precious metals Charles Dowsett said news of Sri Lanka's central bank buying 10 tons of gold from the International Monetary Fund was a sign of reserve diversification. "The economic news from the U.S. is still bad, so it's prudent for central banks to diversify dollar holdings," he said. January Nymex crude oil was 95 cents lower at $77.01 per barrel. U.S. markets are closed Thursday, and will reopen Friday. -Dow Jones Newswires; +65-6415-4140; markettalk@dowjones.com TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkbackAsia@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments. Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=no%2F1TU6xfjkV4lOyprHpaQ%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresNovember 26, 2009 04:31 ET (09:31 GMT)Copyright 2009 Dow Jones & Company, Inc.

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