Archive for August, 2008

Practice Forex Trading for Free

Friday, August 29th, 2008

Free FX trading demo account from GFTOne of the things that makes some traders most nervous about currency trading is the risk. Additionally, it can be daunting initially to start forex trading with your own money. In order to help you learn about the currency market, GFT offers a free FX trading demo account.

The free FX trading demo account allows you to practice reading charts and placing trades, getting comfortable with the platform and making decisions about currency trading. Then, after you have had some practice, you can start using your own money for forex trading.

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Japanese Yen Forex Trading Strategy

Friday, August 29th, 2008

FX trading with the yenJapanese yen forex trading strategy should consider that, for now, things are looking up. FX trading should consider that the yen is doing well against the euro, as well as the U.K. pound.

The yen is also making some headway against the U.S. dollar in currency trading. This is in large part due to the good economic data coming out of Japan.

It is worth noting, though, that this is likely to be short-lived for the Japanese yen in forex trading. ActionForex reports on FX trading with the yen:

There is unlikely to be a near-term impact on monetary policy, but the signs of economic resilience will provide some limited yen support. The yen edged stronger towards 109.0 against the dollar following the data with some headway against the Euro.

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Forex Trading Forecast: U.K. Pound

Friday, August 29th, 2008

Currency trading with the sterlingThe forex trading forecast for the U.K. pound looks much the same as it has for the last few months: bleak. Currency trading with the sterling continues to show issues with the British currency.

Economic data, especially in the housing and credit market areas, are causing all sorts of problems. The Bank of England is expected to act soon, cutting interest rates. Even this move will have a negative affect on the forex trading forecast for the U.K. pound.

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Oil Prices and the U.S. Dollar in Currency Trading

Friday, August 29th, 2008

Forex trading with the greenbackThe U.S. dollar is struggling a bit in currency trading on the FX market this morning. In forex trading, the greenback is still being affected by oil prices. The dollar was up against the euro in FX trading earlier, but has since pared its gains.

Indeed, that is one of the stories this morning as Gustav moves inexorably toward the Gulf of Mexico, expected to make its appearance in the Gulf sometime Monday or Tuesday.

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Euro Drops in Forex Trading

Friday, August 29th, 2008

Economic data puts strain on euro in currency tradingThe euro is struggling a bit in forex trading on the currency market this morning. Thanks to the latest round of economic data, the euro is strained in currency trading.

Indeed, even though some ECB councilmembers insist that rates will need to go up, analysts predict that at some point, they will actually need to be cut in order to stimulate economic growth. MarketWatch has information on the euro in forex trading and ECB rates:


"This all supports our view that the ECB will eventually cut rates pretty aggressively, although worries over the inflation outlook will keep the bank on hold for some months yet," she wrote.

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