2013 Scandals: Forex Scandal Raises Question Of Chat Room Regulation

click here! and Japanese monetary policy, driving U.S. Treasury yields higher after Wednesday’s Fed decision to start cutting bond-buying. The greenback also gained against the euro, which was held back by S&P’s decision to cut the European Union’s supranational long-term rating to AA-plus from AAA, citing rising tensions on budget negotiations. The dollar, which looks set to be backed by relatively higher interest rates next year if the Federal Reserve gradually calls a halt to bond-buying, rose to 104.60 yen on the EBS trading platform, its highest since October 2008, and was recently at 104.45 yen, up 0.2 percent. In contrast to the Fed, the Bank of Japan reaffirmed overnight it would keep monetary policy loose and dollar bulls are now targeting a level around 105.25 yen, a 61.8 percent retracement of the dollar’s fall from its 2007 high of 124.14 yen to its 2011 low of 75.31 yen. “This is mainly dollar strength,” said Ulrich Leuchtmann, head of currency research at Commerzbank in Frankfurt.
Source: http://www.reuters.com/article/2013/12/20/markets-forex-idUSL6N0JZ1S920131220

FOREX-Dollar extends rally after Fed, yen held back by BoJ

Read Fed Policy shenanigans; Tech spies; SeaWorld tragedy; Caterpillar-China scandal; Bud Beer scandal; Bill Ackman’s Herbalife; LIBOR rigging; Forex Scandal ; and check out this video CEO Walk of Shame . NEW YORK ( TheStreet ) — Global price fixing in the foreign-exchange market is still making headlines. Regulators are now watching chat rooms, used by major investment banks, to catch crooks — a practice many say is long overdue. Reports of a foreign-exchange cartel surfaced in June, stating that a handful of large forex traders were colluding to manipulate benchmark rates.
Source: http://www.thestreet.com/story/12158390/1/2013-scandals-forex-scandal-raises-question-of-chat-room-regulation.html

FOREX.com Q1 2014 Outlook: On the road to recovery? Market conditions poised to improve in the New Year, led by strengthening US economy.

18, 2013 /PRNewswire/ — FOREX.com, the retail division of GAIN Capital Holdings, Inc. (NYSE:GCAP), a global provider of online trading services; today released its Q1 2014 Market Outlook report. FOREX.com analysts predict that USDJPY could embark on another leg higher as the Fed toys with the idea of pulling back its QE program, while the Bank of Japan sticks to the principles of Abenomics. The EUR is the Teflon currency of the G10; it is managing to defy gravity even though the growth outlook remains weak.
Source: http://online.wsj.com/article/PR-CO-20131218-905737.html

Forex: GBP/USD: UK GfK Consumer Confidence slides to -13 points forming downtrend

The U.S. central bank reiterated that interest rates are likely to remain low even after the unemployment rate drops below 6.5%, the threshold at which the Fed has previously said it would start to consider rate increases. Meanwhile, less-than-stellar economic indicators in the U.S. watered down the greenback’s gains. The Federal Reserve Bank of Philadelphia said that its manufacturing index jumped to 7.0 for December from November’s 6.5 reading, though analysts were expecting the index to rise to 10.0 this month. A separate report showed that U.S.
Source: http://www.moneycontrol.com/news/rupee/forex-yen-weaker-vs-dollar-aheadbankjapan-monetary-policy_1011690.html

Dmitri Chavkerov of Forex Peace Army Gives Tips To Forex Traders On Dealing with Trading Losses To Achieve Success In Forex

At the same time the sub-index measuring expectations for the General Economic Situation over the next 12 months decreased to -4 points, but is still 27 points above the level seen in December 2012. Earlier today, the Bank of England released its Quarterly Bulletin in which the central bank says that a significant increase in interest rates at current incomes may increase financial pressure on households with a mortgage. But the extent to which higher interest rates may pose problems for households in the future will depend crucially on the extent to which incomes rise. The bank also said that mortgage debt levels were marginally altered during the past year, but these levels were relatively higher compared with historical standards. A rise by 2.5 percent in effective mortgage rates would cause about 50 percent of mortgage borrowers to cut spending or work more hours. Later today in the UK the Office for National Statistics is due to release the Q3 Current Account, the Final Q3 GDP q/q and the November Public Sector Net Borrowing at 09.30 UTC. In the US, the Bureau of Economic Analysis is scheduled to announce the Final Q3 GDP q/q at 13.30 UTC today.
Source: http://invezz.com/news/forex/7737-forex-gbp-usd-uk-gfk-consumer-confidence-slides-to-13-points-forming-downtrend

Forex – Yen weaker vs dollar ahead of Bank of Japan monetary policy

“Let’s go back to the trading system for EUR/USD that gives 60% winners and 40% losers. This system gives us 65 trades per quarter, its losses are 50 pips, its gains are 50 pips, and it brings on average 60% winning trades and 40% losing trades. Let’s say that you use this system for around 4 years, so after 4 years, you have 1,000 trades. 600 of them are winners, and 400 of them are losers.
Source: http://www.bizjournals.com/prnewswire/press_releases/2013/12/17/PH34040

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