FOREX

Oil rises above $80,

2009-11-11T05:57:00.000-08:00

Wednesday, 11 November 2009 09:57

LONDON: Oil prices rose on Tuesday to above $80 a barrel after a late-season hurricane disrupted oil and gas output in the Gulf of Mexico and the dollar stayed close to a 15-month low. US crude for December delivery was up 92 cents to $80.35 a barrel by 1525 GMT, after trading most of the session below yesterday s close of $79.43. London Brent crude was up $1.01 at $78.78. Hurricane Ida, the first real weather threat to oil production of the 2009 season, was downgraded to a tropical depression on Tuesday, but output remained curtailed as producers awaited its passage out of the Gulf. Ida shut in 29.6 per cent of oil production and 27.5 per cent of gas output from the Gulf of Mexico, the US Minerals Management Service said on Monday. Traders said other reasons for oil s gains were the dollar s ongoing weakness, which has also spurred gold to record highs above $1,100 an ounce. We ve held onto the hurricane gains, but the strength in gold above $1,100 and the weak dollar are the reasons we haven t come down more, said Christopher Bellew, a broker at Bache Commodities. The dollar rose on Tuesday from a 15-month low, but analysts said the trend of dollar weakness was still in place, potentially providing support for dollar-denominated commodities.

Looking to the long term, the International Energy Agency published its annual World Energy Outlook on Tuesday, forecasting a rise in primary energy demand globally by 1.5 per cent every year until 2030, and calling for $26 trillion in investment to meet the expected demand. Market reaction to the report was negligible because the annual report is a projection on the basis of a scenario, trying to look 20 years out, Harry Tchilinguirian, senior oil analyst at BNP Paribas, said. Long term it s an important guideline, but any reactions in oil short-term will be on dollar moves, equity markets and central bank decisions, he said. Market-wise, the big issue is how commodities are being targeted by investors looking for yield as a result of accommodative monetary policy, Tchilinguirian said. The latest snap shots on near-term fundamentals will come from US inventory data. Analysts predicted US crude oil inventories last week rose slightly because of higher imports, according to analysts polled by Reuters late on Monday. Industry group the American Petroleum Institute (API) will release weekly inventory data later on Tuesday, while a report from the US Energy Information Administration (EIA) will be delayed from Wednesday to Thursday due to a federal holiday on November 11. Oil prices have more than doubled from a low of less than $33 touched in December, although they are still barely half their high of more than $147 a barrel touched in July last year. The catalyst for this rally has been, in our view, long-anticipated signs of improvement in oil fundamentals in the context of generally constructive economic data, analysts at Goldman Sachs wrote in their Commodity Watch note to investors. Strong emerging market demand has pulled supply elsewhere, reducing US petroleum imports. Specifically, Chinese oil demand continues to surge, driven by strong economic activity.

Gold continues to climb, now at Rs34,755 a tola

2009-11-11T05:56:00.000-08:00

Wednesday, 11 November 2009 09:57

KARACHI: Amid expectations that gold may jump further, the precious metal reached Rs34,755 a tola, taking a Rs255 leap in a day on Tuesday. The opening rate for the local market on Tuesday was Rs34,600 as compared to Rs34,500 on Saturday, which later rose to Rs34,755 by the time businesses shut here in the city. This is so far the highest level in the history of gold. This swift rise is said to have been caused by bulk buying of gold by Sri Lanka, besides India and China who have bought from the IMF, said Haji Haroon Chand, President of All Sindh Saaraf and Jewellers Association. A number of countries are diversifying their foreign exchange reserves and moving away from the weakening dollar to gold. In the local markets, the rate for 10 grams of gold jumped to Rs29,790 from Rs29,575, scoring a Rs215 rise in a day. In the international market, an ounce of gold was priced at $1,104, up from $1,095 in a day, which is expected to rise further, said Chand. However, as the rate of the precious metal goes up, local dealers see a further decline in business as the buying power keeps on falling day-by-day amid an economic downturn in the country. In London, gold prices rallied toward recent record highs above $1,110 an ounce on Tuesday, reversing earlier losses, as the dollar erased initial gains against a basket of six major currencies, adds Reuters.

Spot gold hit a session high of $1,109.20 an ounce and was at $1,106.90 at 1540 GMT, against $1,103.85 late in New York on Monday. The market earlier dipped as low as $1,096.60. The metal also found support from renewed investor interest after the International Monetary Fund announced last week it had sold 200 tons of gold to India s central bank, which prompted the metal to reach record highs. Given all the noises hedge funds have been making, plus all the noise surrounding further potential central bank buying, it is difficult to see much of a downside, said Societe Generale analyst David Wilson. US gold futures for December delivery on the COMEX division of the New York Mercantile Exchange firmed $5.90 to $1,107.30 an ounce. The precious metal hit an all-time high of $1,110.85 an ounce on Monday as the dollar index, which measures the US currency s performance against a basket of six others, hit its lowest since August 2008. Gold initially struggled to break new ground as the dollar edged up on Tuesday, but bounced back as the currency slipped back towards 15-month lows against a currency basket. Strength in the US unit dampens gold s appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies. The dollar remains susceptible to further losses, analysts said. My feeling is we will actually see the dollar break down further in the next few weeks, and that will help take gold up to new levels, said Standard Chartered analyst Daniel Smith. We think $1,200 is quite a realistic target before the end of the year.

Sugar crisis to create medicine shortage

2009-11-11T05:55:00.000-08:00

Wednesday, 11 November 2009 09:57

KARACHI: Former chairman FPCCI Standing Committee on Pharmaceuticals, Dr Mushtaq Noorwala, while expressing concern over the continuing crisis of sugar in the country, has cautioned that the pharmaceutical industry and other industries using sugar as raw material will be severely affected.

If availability of sugar at a low price is not ensured for the pharmaceutical sector, there will be a shortage of medicine which will create serious problems, especially for the common man. Besides, a large number of people engaged with this industry will be rendered jobless, he said in a statement. Dr Noorwala regretted that despite the directives of the Supreme Court of Pakistan and the government s stance about availability of huge stocks of sugar, the commodity is sold at an unbearably high price and is not easily available to the public. He suggested that sugar can be sold by hawkers also to save the people from standing in long queues before utility stores. He was of the opinion that some elements, by creating an artificial crisis of sugar or wheat flour, were actually defaming and creating trouble for the government. He appealed to the consumers of soft drinks, ice creams, sweets, confectionery, etc, to cut their consumption for saving sugar.

Stakeholders urged to resolve yarn price issue

2009-11-11T05:52:00.001-08:00

KARACHI: The Pakistan Readymade Garments Manufacturers and Exporters Association has called for immediate intervention of the textile ministry to control rising yarn prices in the domestic market. PRGMEA Chairman Mohsin Ayub Mirza said on Tuesday that all the stakeholders should sit together and develop a mechanism for profit sharing so that neither any industry becomes sick nor the country suffers and loses export markets. He said a 30 to 40 per cent increase in yarn prices and its shortage due to increase in its export would not only hurt this sector but would also affect inflow of future export orders. Owing to current yarn prices, international buyers are not willing to place orders with Pakistani textile sector. He said the steep rise in yarn prices would deprive the country of short-term delivery advantage, which has been its edge over other textile exporting countries. The textile ministry has set a very progressive export target for the industry but we are afraid that we would not only fail in achieving the export target in the absence of any immediate action on the yarn prices issue but it would also bring the industry to the verge of collapse, he said. Although the situation of the textile industry has improved after the introduction and basic implementation of textile policy, the yarn issue alone can badly hurt the value added textile sector in a worst way than the shortage of power and law and order situation. He urged all the stakeholders to converge to one mutually beneficial agenda and make yarn availability possible for the value added textile sector so that all businesses continue to run smoothly.

US to help Pakistani businessmen build global partnerships

2009-11-11T05:51:00.000-08:00

ISLAMABAD: The United States wants to engage Pakistan in a long-term and productive dialogue to facilitate Pakistani entrepreneurs in building partnerships with the international business community and tackle the problems of poverty, unemployment and other challenges. This was stated by Paul A Brinkley, US Deputy Undersecretary of Defence (Business and Transformation) and Head of the Task Force on Business and Stability Operation, while addressing the business community at the Islamabad Chamber of Commerce and Industry (ICCI). According to an ICCI press release here on Tuesday, he said that the task force s visit to Pakistan was aimed at interacting with the business community, knowing their views for building stronger ties between the two countries and working together for bringing international businessmen closer to their Pakistani counterparts for exploiting business and investment opportunities to strengthen the country s economy. Speaking on the occasion, Saleem H Mandviwalla, Chairman Board of Investment and State Minister for Investment said Pakistan was a dynamic country blessed with immense human talent, adding that the US should help the country in developing skills and expertise of its human resources.

He said the purpose of introducing the US task force on business and stability operation to the country s chambers was to provide them an opportunity to get a macro picture of Pakistan s business environment and to explore new opportunities for enhancing investment in different sectors of Pakistan s economy. He expressed hope for more future trips of the US task force to facilitate Pakistani businessmen in improving their business skills and strengthening their links with their international counterparts. ICCI President, Zahid Maqbool, in his welcome address said that US was the largest trading partner of Pakistan, but still the current bilateral trade and investment do not reflect the true potential of both countries. He said that US should provide easy access to Pakistani products in its markets and rationalise its tariff on Pakistani exports, particularly textile products. Speaking about the Bilateral Investment Treaty (BIT), he said it should be based on the principles of equality and fairness providing reciprocal advantages to Pakistani investors in the US. He said the US should help Pakistan exploit its immense natural energy resources including wind, coal, hydro and solar energy potential, which provide cheap energy as compared to thermal power. He invited US investors for collaboration in energy, oil and gas, infrastructure development, agriculture, IT and many other sectors of Pakistan s economy and for starting joint ventures here.

Bosicor posts heavy loss of Rs10.33bn

2009-11-11T05:50:00.001-08:00

KARACHI: Loss after tax of Bosicor Pakistan refinery has jumped to Rs10.33 billion for the year ended June 30, 2009. It will be worth mentioning here that the company had managed to book a profit after tax of Rs15.12 million last year (2008). Accordingly, loss per share translated into Rs26.35 against earning per share of Rs0.04 in 2008. The loss for 2008-09 has arisen primarily from exchange losses of Rs4.4 billion, an operating loss of Rs4.5 billion and financial charges of Rs1.78 billion, the company said in a communique to the Karachi Stock Exchange. During the year under review, the company achieved gross sales of Rs54.77 billion and net sales of Rs44.62 billion as compared to gross and net sales of Rs40.09 billion and Rs35.81 billion respectively last year, it added. During the year due to unprecedented losses, the company faced severe constraints in meeting its financial obligations. At this crucial phase, the company s sponsoring shareholders again showed commitment and endorsed their financial plan prepared by the management of the company and arranged financial support amounting to Rs4.2 billion. This enabled the company to partially meet the required funding gap from the losses, said Bosicor CEO Amir Abbassciy in the statement.

Women asked to play role in economy

2009-11-11T05:49:00.002-08:00

LAHORE: Lahore Chamber of Commerce and Industry Vice President Faisal Iqbal Sheikh asked women entrepreneurs to play their role with greater reliance, self esteem and dedication for economic growth of the country. The LCCI vice president was speaking at a function arranged in honour of women entrepreneurs at the LCCI on Tuesday. LCCI former president Mian Shafqat Ali and Convener Standing Committee on Women Resource Centre Nasira Taskeen also spoke on the occasion. He said no country in the world could prosper and progress without due participation of women in all spheres of life. He said according to the UN report the economic development is closely related to the advancement of women. In countries where women have advanced, the economy is usually steady. By contrast, in countries where women have been restricted, the economy is stagnant. Taskeen said the LCCI would utilise all its resources to solve the issues being faced by business women.

She said all measures were being taken to ensure the participation of women entrepreneurs in LCCI s foreign delegations or for their participation in foreign exhibitions as they had to face troubles with particular reference to their business visits. Speaking on the occasion, the Lahore Chamber of Commerce and Industry former president said women constitute 52 of the total population of the country but only 11 per cent are engaged in business activity and are contributing to the national economy while the rest is confined to household affairs therefore there was a dire need to engage more and more women into business activities with a view to promoting the economy. He said today women are well aware of their rights and they are entering into non-traditional businesses like boutiques, beauty parlours, textile designing, printing and publishing, architecture, banking, IT, business management, fashion designing et cetera. He assured the Lahore Chamber of Commerce and Industry to leave no stone unturned for the betterment of women entrepreneurs. He said they should acquire modern techniques for business promotion and come forward with new ideas.

Trade between Pakistan, Lanka strengthens after FTA

2009-11-11T05:49:00.001-08:00

KARACHI: Consul General of Sri Lanka, VS Sidhat Kumar on Tuesday said Sri Lanka believes in market-oriented policies for helping increase export trade. In a meeting with members of SITE Association of Industry (SAI) here at the Association s office, Kumar said foreign investment is encouraged. Sri Lanka s most dynamic sectors now are food processing, textiles, beverages, port construction, telecommunications, insurance and banking, said an SAI statement here. He said that bilateral trade between both countries has been strengthened through an increase in the number of products that can be imported from Sri Lanka under the final phase of Free Trade Agreement (FTA) effective from March 20, and the number is 4,000. He identified these imports as fish, meat, vegetable, foliage, plant, sugar, biscuits, pastry, cakes, mineral products, fibre boards, leather and leather-based products, footwear, gems, jewellery, value-added copper products, electrical items, printed circuits, bicycles, boats, and floating structures. Similarly, he said, there is also a great demand for Pakistani products. Pakistan can export cotton yarn and fabrics, potatoes, fresh or chilled, pharmaceutical products, knitted or crocheted fabrics, articles of iron and steel, galvanised pipes, rice, fish and other sea food, other made-up textile articles, articles of apparel and clothing accessories, rods of refined copper, etc. Kumar said that Pakistan has become the second largest trade partner for Sri Lanka in the South Asian region. Trade between the two countries increased to $270 million in 2008. Sri Lanka s exports to Pakistan also increased on the import of coconut products, tea, rubber and rubber-based products by Pakistan.

Imports from Pakistan mainly consist of rice, vegetables, pharmaceuticals, potatoes, textiles, and apparel. Only the export of valued-added textiles has reached more than $100 million. Responding to a question about the exchange of skilled workers, technicians, and supervisory staff in the field of textile, especially valued-added textile, he welcomed the idea and said that he would recommend it to the government for easing the procedure so that more skilled manpower could come to Pakistan and assist the textile units in producing quality products. He also mentioned that Sri Lanka also has specialists and technical supervisory staff in other fields too. Pakistani entrepreneurs can avail their services as well. Bilateral trade is also improving due to liberalisation through FTA. The Consul General, however, regretted that investment from Pakistan is not coming despite a liberal investment policy. Many sectors are available for collaboration in Sri Lanka. He extended an initiation to Pakistani investors to come to Sri Lanka and invest there. The Sri Lankan garment sector is highly equipped educationally and professionally. The scope for herbal medicine is also very high in Sri Lanka. The Consul General extended an invitation to SITE Association members to participate in the Sri Lankan exhibition of Agri Livestock and Fisheries scheduled to be held in November. He also informed that the Karachi Chamber of Commerce and Industry is holding a seminar on Free Trade Agreement between Pakistan and Sri Lanka in the first week of December, to discuss ways to boost two way trade and to get maximum benefit form the agreement between the two countries, and noted that it would be a good opportunity for the local businessmen to gain awareness about two-way trade between Sri Lanka and Pakistan. Earlier, Chairman SITE Association, Salim Parekh welcomed the Consul General and acknowledged the progress that both countries are making in terms of bilateral trade, especially after the free trade deal was signed in the recent past. Chairman International Relations and Diplomatic Affairs Committee SITE Association, Senior Vice Chairman SITE Association, Naseem Anwar, also spoke at the occasion.

Iron-fortified flour production gains pace

2009-11-11T05:48:00.001-08:00

LAHORE: The mandatory supply of iron-fortified wheat by World Food Program has accelerated. The number of flourmills producing fortified atta has reached 92 in past one year, 40 of them in NWFP. Flour fortification with iron has suddenly picked up in Pakistan as the number of flourmills adding iron in flour has increased from 68 in 2008 to 160 particularly in NWFP where 40 mills were added after the Swat operation. Iron (Fe) deficiency is a major cause of anaemia in children and pregnant women. According to UNICEF estimates, iron deficiency affects half of the developing world s infants, undermines the health of 500 million women of reproductive age and leads to more than 60,000 childbirth deaths a year. Iron deficiency is also stated to be one of the major causes of high infant mortality rate in Pakistan. It also causes a range of other problems in millions of people, including impaired cognitive development in children, fatigue, maternal mortality and low productivity in the workplace. As wheat flour is the staple food of majority in Pakistan it was the most suitable food for iron fortification. The wheat flour fortification program was initiated in 1997. Trials were conducted for various iron compounds to find out the efficacy and safe ratio of iron compound that could be added in flour. In 2002 Global Alliance for Improved Nutrition (GAIN) provided $3 million to Pakistan to procure NaFeEDTA a substance containing bio available iron that could be mixed in flour.

It leaves no taste when added to food and remains stable under storage and cooking conditions. It also prevents rancidity, while research into the product s molecule has proved that compound is absorbed into the human body two to four times better than with other iron compounds. The mills were required to buy the iron mixer from their own resources while NaFeEDTA was to be provided from the GAIN grant to the flourmills free of cost. The selected mills were bound to supply the atta bags at normal atta rates. Introduction of fortified flour was slow in Pakistan. Three years after grant only 50 flourmills in Pakistan started fortifying flour with iron. The process slowed down thereafter and only 18 more mills were added during 2004-2008. Pakistan was way behind the target of adding 150 flour mills in the fortification program by 2010. The speed of fortification however picked up after 2008 and 92 more mills have been added since then enabling the country to exceed the target a year ahead. GAIN acknowledged this achievement by awarding Flour Fortification Initiative Leadership award in Italy to the coordinator flour fortification in Pakistan Dr Bilal Aslam Soofi. Now fortified flour is available to 30 per cent of the urban population of Pakistan, said Soofi. He said the iron compound grant provided by GAIN would expire next year. He said that at the award ceremony a request was made to GAIN to extend the grant for free supply of NaFeEDTA for another year. He said even if the grant is not provided it would add only Rs2 per 20 kg in the cost, which he said is affordable in view of the huge health benefits associated with it. Fortification of flour with iron is mandatory in most of the developed countries. In Pakistan it is still optional. Nutritional experts have advised the government to make it mandatory by 2012 so that the menace of anaemia could be addressed.

Textile package

2009-11-11T05:47:00.002-08:00

KARACHI: The State Bank of Pakistan has received Rs5 billion from the government under the textile package but there are no instructions for utilisation of the amount despite several demands by the textile industry. According to a letter of the State Bank addressed to the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA), the Ministry of Textile is yet to provide the exact heads where this amount would be utilised. The letter says that budgetary allocation was required for several schemes announced in the Trade Policy including duty drawback for the textile sector, subsidy to PTA users and Export Finance Scheme (EFS) related incentives and also for the disbursement of remaining 60 per cent amount of R&D claims. We cannot start utilisation of the released funds unless Mintex clarifies under which schemes the funds are to be utilised and in what proportion, said the letter. The textile industry has been facing financial crunch and is still waiting for the R&D claims. There are 60 per cent dues of R&D yet to be paid. The PRGMEA, following the letter of the State Bank, has written to the Ministry of Textile to release funds for R&D immediately. Bilal Mulla, Chairman FPCCI Standing Committee on Value Added Textile Products and former chairman PRGMEA, told The News that due to absence of coordination between Mintex, SBP and Ministry of Finance the allocated fund was lying unutilised with the SBP.

Though the textile policy was announced on August 12, necessary notifications were issued on September 1 and here we stand in mid-November without real benefit of the policy. He said implementation of much-appreciated textile policy till today was very low. The textile policy announced with long-term vision and textile export target of $25 billion in next five years was hailed by all textile sectors across the country. However on September 1, the required notification was issued by Mintex pertaining to duty drawback with full procedure of refund through the State Bank of Pakistan (SBP). Everyone knows the package of Rs40 billion for exports has already been approved in budget 2009-10 then why there is delay in issuance of instructions to the SBP, which is responsible for the disbursement of claims under the said notification, Mulla said. The current procedure of registration and verification of export units is very cumbersome, he said, was the main hurdle in implementation of notification under the Textile Policy. We suggest that Mintex should push Textile Commissioner Office, Karachi and regional offices in Lahore and Faisalabad to resolve the issues locally. Exporters belonging to different parts of the country are unable to access Islamabad Office, said Mulla. Rana Muhammad Farooq Saeed Khan, Minister for Textile Industry, in a recent programme said that each word of the textile policy would be implemented. But, no one knows why State Bank has not been instructed to utile the funds available under textile package.

Foreign Exchange Markets: A Practical Guide

2009-10-17T19:23:00.000-07:00

This online guide aims at creating a coherent understanding of the foreign exchange market, by tying in real life market scenarios with the relevant theories of international finance and the classic schools of technical and quantitative analysis. Although there is a vast amount of literature on international finance, technical analysis and chartism, there is a scarcity of instructional materials incorporating actual market events such as interest rate decisions, interventions and geopolitical events.

Another area largely overlooked by currency guides is the integration of fundamental and technical analysis for making decisions. The distinctiveness between the two types of approaches dissuades many from factoring them together. But knowing how to combine them can be highly advantageous in unraveling the trend and timing of currency moves.

This material focuses on teaching how to think for yourself in understanding global currency markets, rather than depending on a pre-set trading system which recommends decisions without providing input on the whys of making right and wrong decisions. Rather than rehashing the classic theories driving currency analysis, this guide will offer investors, researchers and students an innovative approach, paramount in grasping and anticipating the moves in the major currency pairs.

Table of contents is illustrated below

U.S.: Unemployment’s Rate is the Achilles Heel

2009-10-17T19:21:00.000-07:00

As housing is giving some relief to household pockets, the Federal Reserve warns about a slow recovery. The Euro, in the mean time, is testing key resistance levels against the U.S. dollar. U.S.: housing still supportive
Tangible signs of improvements are beginning to show up, albeit the recovery remains fragile in the United States. In July, the conference board index increased 0.6% month-on-month from + 0.8% in June. It was the fourth consecutive month of increase, giving further prove that the U.S. economy might have bottomed. In a speech at the Jackson Hole Symposium, Fed Chairman Bernanke confirmed that the worst might be over for global economies, thus indirectly anticipating a safe-haven demand’s decline for U.S. dollars and Treasuries in the coming months. Nonetheless, the Federal Reserve will keep rates low for the first part of 2010 with inflation so mild. In July, the producer price index (PPI) fell 0.9% versus the expected -0.4%. In reality, after two months of gains, 6.5% in June and 15% in May, housing starts slid by 1.0% in July to 581,000 annualized (+2.5% expected). Nevertheless, singles component (three-quarters of the market) rose 1.7%, while multiple houses declined 13.3%. Starts are still above the average of the first three months of the year, although away from the over 2 million produced in 2005. Angelo Airaghi is a Commodity Trading Advisor, registered with the National Futures Association and the Commodity Futures Trading Commission. He has been an active professional since 1990 working for major international financial companies. In the past 10 years, Angelo Airaghi has been an analyst and commentator for national and international media. This article contains the following sections:

U.S.: housing still supportive

Is the German’s recovery sustainable?

U.S dollar: Looking For The Line of Least Resistance

2009-10-17T19:19:00.000-07:00

As housing continues to improve, unemployment could rise again in the coming months. In Germany, confidence is growing, while the economy might take advantage of global growth U.S.: housing is back?
Unemployment remains the biggest challenge for the U.S. economy, despite losses declining to 220,000 from 247,000 in July. In reality, we are experiencing the lowest job contraction in more than a year, but the unemployment rate could again rise due to the slow recovery in the last part of 2009. At the contrary, the real estate market is confirming the good trend and it is expected to positively contribute to the Gross Domestic Product (GDP) numbers, along with inventory growth for various goods. In July, new home sales moved up 9.6% year-on-year to 433,000 units from June’s 395,000. It has been the fourth consecutive monthly increase and the largest gain since February of 2005. With three regions out of four posting good results, inventories are now 7.5 months supply from 8.5 months in June, far away from the peak of 12.4 months reached in January. Angelo Airaghi is a Commodity Trading Advisor, registered with the National Futures Association and the Commodity Futures Trading Commission. He has been an active professional since 1990 working for major international financial companies. In the past 10 years, Angelo Airaghi has been an analyst and commentator for national and international media. This article contains the following sections:

U.S.: housing is back?

Germany: economic expectation on the rise

EUR/USD: Testing key resistance lines.

EURO: At Key Levels Against the U.S. dollar

2009-10-17T19:18:00.000-07:00

The Federal Reserve and the European Central Bank should keep rates steady for the first part of 2010 as well, since the economic recovery remains fragile in some sectors and inflation is low. The Euro is once again at key resistance lines against the U.S. dollar. A breakout would possibly set the currency for a strong move up.

U.S.: Some improvements, but not enough
Growth remains weak in the United States, but sings of improvement are showing at various levels of the economy. Housing has clearly found a bottom, while consumer confidence has increased slightly in the recent months. For the first time since 20007, the ISM manufacturing survey moved up to 52.9 in August from 48.9 the previous month. New orders rose to 64.9 from 55.3, marking the strongest gain since 2004. The ISM services climbed instead to 48.4 from 46.4 in July. Nevertheless, the price paid component jumped to 63.1 from 41.3, thus anticipating some inflationary pressure ahead. The Federal Reserve is expected to keep rates accommodative the first part of 2010 as well, since the recovery is still very fragile and household savings weak.

Angelo Airaghi is a Commodity Trading Advisor, registered with the National Futures Association and the Commodity Futures Trading Commission. He has been an active professional since 1990 working for major international financial companies. In the past 10 years, Angelo Airaghi has been an analyst and commentator for national and international media.

This article contains the following sections:

U.S.: Some improvements, but not enough

Europe: Unemployment increasing more?

EUR/USD: Trying the resume the long-term uptrend.

EURO: Setting The Long Term Trend?

2009-10-17T19:16:00.000-07:00

As the European economy is moving out of recession, the Euro currency is at key levels against the U.S. dollar. A movement above the next resistance could set the trend for the next weeks/months.

U.S.: consumer spending to increase?

More time is needed to see some tangible results, but the economy is on the move again in the United States. Last week, the Beige Book confirmed that the economic activity is stabilizing, as the job market and the manufacturing sectors are registering some minor upticks. In reality, the average duration of unemployment is at historical highs and jobless rate for young people is almost 26%. Public offices are laying-off employees, since some states are registering declines in tax revenues. Initial jobless claims fell to 550,000 in the week of September 5th, versus the expected down move of 570,000. Nevertheless, they remain near the high of the year. Housing, at the contrary, appears to be finally out the woods. Inventories are declining, while building permits are increasing. Angelo Airaghi is a Commodity Trading Advisor, registered with the National Futures Association and the Commodity Futures Trading Commission. He has been an active professional since 1990 working for major international financial companies. In the past 10 years, Angelo Airaghi has been an analyst and commentator for national and international media. This article contains the following sections:

U.S.: consumer spending to increase?

Europe: domestic demand improving

EUR/USD: Resistance holding for now.

U.S Dollar: Short Term Rebound

2009-10-17T19:15:00.000-07:00

The recovery remains mild for now in the United States and in Europe, as unemployment is high and saving is increasing. The Euro is at important resistance lines against the U.S. dollar. A corrective move is possible, but the long-term trend stays bullish. U.S.: Rates to remain low, but an exit strategy is ready.
The economic growth is on the move again and some tangible results should be seen shortly. Inventories are being implemented and production is increasing. Spending will improve, along with commodity prices, supported by the world economic recovery. In August, car sales have moved up more than 50% year-on-year in China, India and Brazil. The housing market should continue to show the way in the United States. Housing starts rose 1.5% in August, while existing home sales declined 2.5%, but they remained well above the low registered in November. In effect, during last week FOMC¡¦s meeting, the Fed appeared more optimistic about the economic growth, albeit activity should remain subdued for some time. Durable good orders fell 2.4% (+0.5%) in August, after having increased 4.8% in July. Orders are up overall for the quarter, capital goods orders (excluding aircraft and defense) increased almost 9.0% annualized over the three months, but activity is not strong enough to relief the unemployment rate from the bottom yet. As a result, rates will remain low for now and an exit strategy will be implemented as soon as the economics¡¦ turnaround becomes sustained. The Federal Reserve postponed the timeline for the purchase of mortgage-backed and agency debt to the end of the first quarter of 2010. However, current recovery should be mild, since recapitalization is still in process. The huge deficit will weight on U.S. growth and limit the American economic potential. Unemployment will remain high and savings will increase. Americans are adapting to the new reality, characterized by tight credit and increasing commodity prices, by reducing spending and tempering debt. The strong expansionary cycles of the past are history. Angelo Airaghi is a Commodity Trading Advisor, registered with the National Futures Association and the Commodity Futures Trading Commission. He has been an active professional since 1990 working for major international financial companies. In the past 10 years, Angelo Airaghi has been an analyst and commentator for national and international media. This article contains the following sections:

U.S.: Rates to remain low, but an exit strategy is ready.

EUROPE: A mild recovery so far.

GBP/USD: Correcting.

ECB: Rates to Remain Steady

2009-10-17T19:13:00.000-07:00

The unemployment rate remains high in the U.S and in Europe and could rise further over the short term. However, new orders are improving and a turnaround might be near. The European Central Bank (ECB) meets this week in Venice (Italy). Rates should remain steady, although an exit strategy for next year could be ready.

U.S.: Home prices to increase.

The U.S. economy is slowly moving out of the deep recession of the past two years, albeit the data remains volatile and unstable. Ups and downs are normal during turning points. Some sectors perform better than others, but an equilibrium should emerge as time passes by. The manufacturing industry, as an example, is performing again, since exports to major economies are increasing. In reality, the U.S. manufacturing ISM index declined to 52.6 in September, but it remains above the benchmark of 50 for the second straight month. In fact, 13 out of 18 industries registered some gains and improvements are broad-based among various economic sectors. The housing market remains nevertheless the leading force. Home inventories are declining and prices are beginning to rise. Current affordability and tax incentives are driving the market and the trend should continue in the coming months as well. However, the move could be subdued by the new saving mentality which focuses on reducing debt and improve personal finances.

Angelo Airaghi is a Commodity Trading Advisor, registered with the National Futures Association and the Commodity Futures Trading Commission. He has been an active professional since 1990 working for major international financial companies. In the past 10 years, Angelo Airaghi has been an analyst and commentator for national and international media. This article contains the following sections:

U.S.: Home prices to increase.

EUROPE: New orders rising.

EUR/USD: Testing resistance line.

Is The U.S. Dollar Resuming the Downtrend?

2009-10-17T19:10:00.000-07:00

The U.S. dollar is again under pressure, as markets are anticipating a different scenario which contemplates higher interest rates next year in Europe and eventually in the U.S. U.S.: The saving’s rate to spike. Is the long consolidation of the dollar over? The decline of the greenback against major currencies and the Australian dollar/Canadian dollar in particular might be the beginning of a new leg down that could last until December. The decision of the Royal Bank of Australia to increase interest rates will eventually set a worldwide domino’s effect that could lead to higher rates, higher inflation and higher commodity prices next year. In reality, the world’s economic recovery is in motion, albeit it will be subdued by the long-lasting consumer deleveraging. The recession has changed the spending habit for one generation at least, considering that interest rates are set to rise substantially over the years, if history repeats itself. In fact, over 150 years, interest rates have shown the tendency to bottom roughly every 50/60 years (1900, 1945, 2000) and then to trend up for about 20/30 years. Angelo Airaghi is a Commodity Trading Advisor, registered with the National Futures Association and the Commodity Futures Trading Commission. He has been an active professional since 1990 working for major international financial companies. In the past 10 years, Angelo Airaghi has been an analyst and commentator for national and international media. This article contains the following sections:

U.S.: The saving’s rate to spike.

ECB: rates steady for now, but the count-down has begun.

USDCAD: falling?

Currency Rates in India

2009-10-17T19:03:00.000-07:00

October 18, 2009, 4:31 am
Currency Name	Buy	Sell	Currency Name	Buy	Sell
US Dollars	46.55	49.95	Newzealand Dollar	26.95	34.85
Sterling Pound	77.15	82.05	Norwaygian Kroner	5.85	7.95
Euro	66.25	70.35	Oman Rial	113.65	141.25
Australian Dollar	37.15	44.35	Qatar Rial	11.85	15.25
Baharain Dinar	118.15	142.35	South African Rand	3.45	6.65
Canadian Dollar	41.15	46.25	Saudi Rial	10.15	16.25
Danish Kroners	6.45	8.95	Singapore Dollar	31.15	36.75
Hong Kong Dollar	4.85	8.95	Swedish Kroner	4.85	8.95
Japanese Yen /1000	490.65	560.15	Swiss Francs	40.05	47.65
Kuwati Dinar	155.95	186.65	Thai Bhat / 100	125.15	169.15
Malaysian Ringtt	11.55	16.85	UAE Dirhams	12.2	13.95

Forex Brokers of Pakistan

2009-10-17T18:57:00.000-07:00

H & H Exchange Co. (Pvt) Ltd.

Head Office
Address:	Suite # G-17, Ground Floor, Saima Trade Tower, Dr. Ziauddin Ahmed Road Karachi, Sindh 74000
Telephone:	UAN : 111 44 00 44 +92.21.2212882-89
Fax:	+92.21.2212890

Dollar East Exchange Company

Head Office Address: 97-A Jail Road, Lahore, Punjab 74000
Telephone: +92-42-7555616
+92-42-7598529
Fax: +92-42-7555615

Emirates Global Islamic Bank Limited (EGIBL)

Head Office
Address:	Shopping Arcade, Karachi Sheraton Hotel & Towers, Club Road, Karachi. karachi, Sindh 74000
Telephone:	+92-21-111113442

LAXY EXCHANGE (PVT.) LTD

Head Office
Address:	S/No. 10 & 11, Sasi Arcade, Opp. Uzma Shopping Plaza, Blk-7, Clifton, Khi karachi, Sindh 74000
Telephone:	+92-21-5875141

Khanani & Kalia International (Pvt.) Ltd.

Head Office
Address:	Suite # 1101-1105, 11th Floor, Block-A, Saima Trade Tower I. I. Chundrigar Road. Karachi, Sindh 74000
Telephone:	+92-21-111-554-003 +92-21-2217001-10 Telex 27489KKI.PK
Fax:	+92-21-2218094 +92-21-2218087

ZARCO EXCHANGE COMPANY (PVT) LTD.

Head Office
Address:	32-A Lawrence road, Lahore, Punjab
Telephone:	0800-12345, 0800-67890 +92-42 6301253, 6301977
Fax:	+92-42 6368796, 6362217

A Khanani and Kalia Money Exchange

Islamabad Office
Address:	Unit # 1, Chowdry Plaza, Blue Area, Opp. Nafdeck Cinema . Islamabad, Punjab 74400
Telephone:	+92-51-111-554-554
Fax:	+92-51-2274457

A TO Z MONEY CHANGER

Head Office
Address:	184,Paradise Shopping Centre,Saddar karachi, Sindh 74000
Telephone:	(92 21) 5686968 (92-21) 5686650

AA EXCHANGE COMPANY (PVT) LTD

Head Office
Address:	Office# 1-2, Mezzanine Floor, Block 46, Madni Plaza, Jinnah Avenue, Blue Area, Islamabad islamabad, punjab
Telephone:	+92-51-2271700

Megapixel Wars' are over

2009-10-17T18:55:00.000-07:00

There are celebrations when a war ends, but sometimes confusion, too. The sense of purpose, the unifying morale lift, maybe even the economic boost, are over. That was certainly the case during the Great Megapixel Wars of 1996-2007. During these years, the world’s camera companies fought doggedly for our hearts and minds, using megapixel count as a weapon. “Ours takes 6 megapixel photos!” “Ours takes 8!” And we marched to their orders, buying a new camera every other year just to keep up. Now that that war has ended (the megapixel race has pretty much stopped at around 12) the camera companies find themselves flailing for new sales points. Cameras these days have more bells and whistles than a marching band: image stabilizers, superlong zooms, hi-def video, waterproof cases, face recognition, smile detection, even blink detection. This month, though, some kind of line has been crossed. Two new cameras from Nikon and Samsung don’t just tinker with the camera formula, they rewrite it. One adds a second screen; the other adds a built-in projector. Actually, Samsung’s DualView TL225 and TL220 cameras introduce two radical elements: a screen on the front and a gesture-and-tilt vocabulary for controlling the thing. (The TL225, priced at $350, has a 3.5-inch back screen, brushed-metal body and HDMI jack for a hi-def TV; the TL220, $300, has a 3-inch screen, plastic body and no HDMI.) What draws the most attention, of course, is that 1.5-inch front screen. When the screen is turned off, it’s invisible. It vanishes completely into the camera’s smoky-dark case. When you turn it on (by tapping that empty spot with your finger), however, it’s capable of performing several ingenious stunts. The obvious one is framing self-portraits. On ordinary cameras, that’s a matter of guesswork, or of handing the camera to passing strangers and praying they won’t just run away with it. On the DualView, you can see precisely how the shot is framed, how your expression looks and whether you’ve got spinach in your teeth. Actually, why not use it even when you’re not taking self-portraits? Shouldn’t everyone have some say in what your pictures of them look like? When you dial up Kid mode — one of the camera’s 13 canned sets of scene settings — the screen does something else clever: it displays a crude Japanese-style cartoon animation. (The camera comes with a clown animation; 20 more are available as free downloads.) It’s supposed to capture the attention of younger subjects, so that they face the camera. It works like a charm (except in bright sunlight, where it’s nearly bleached out). Even older children are captivated, if only by the presence of a video screen on a pocket camera. Close-range photos sometimes reveal the telltale off-axis look of a child who was looking at a spot beside the lens, not into it, but it beats calling out, “Tyler! Hey Tyler! Look here! Hey Tyler!” for the 14th time. The little front screen can also display a countdown in self-timer mode, current flash or macro settings, or a smiley face when you press the shutter, to cue your subjects when it’s time to pretend to be happy. The question is: do self-portraits and child shots occur frequently enough to justify the higher price of this camera? (Rival touch-screen cameras cost $50 to $100 less.) Before you answer, there’s more invention in the DualView than just the second screen. The huge, bright touch screen works really well, but what’s new is how you can control this camera, quickly and precisely, by tipping it and drawing on its screen. For example, you draw a big X on a photo to delete it. You draw a circle, clockwise or counterclockwise, to rotate it. In playback mode, you advance to the next picture either by flicking your finger across the screen, iPhone style, or by giving the camera a little shake. Cooler yet, you can switch modes — to movie mode and back, for example — by twitching the camera up, down or left while pressing a button with your thumb. It takes a couple of minutes to master, but it’s a genuine advance in the evolution of gadget controls, and wow, is it cool. Not so cool: in their “reinvent the camera” zeal, Samsung’s engineers adopted a nonstandard way to charge the battery (inside the camera, so you can’t charge a spare while using the camera), a nonstandard, proprietary computer transfer cable, and a decidedly nonstandard memory-card format (MicroSD, more common on cellphones). Whassamatter, Samsung — the SD cards used by every other camera company on earth not good enough for ya? The other radical new camera is Nikon’s CoolPix S1000pj ($430). On most cameras, to show off your photos, you can pass around the tiny screen or connect a TV cable. This one, if you can believe it, has a microprojector built right into its forehead. Last year, microprojectors wowed a lot of people. They’re little iPod-size pocketable gadgets that connect to phones, laptops or iPods to project stills and videos on any handy, light-colored flat surface. Get ready for the dawn of embedded microprojectors in cellphones — and cameras, like this one. When you’re in playback mode, a dedicated button on the top edge of the Nikon turns on a gasp-inducing projected image, which can be as large as 40 inches diagonal, depending on your distance from the wall, ceiling or T-shirt. Now, you’re not exactly going to get complaints from the neighbors; this thing pumps out only 10 lumens of light (compared with 2,000 lumens or more for conference-room laptop projectors). The projected image is only 640 by 480 pixels. The battery lasts for only an hour with the projector on. But you know what? Absolutely nobody cares. The image brightness and clarity are perfectly adequate — especially in a dark room, on a white surface, and when the camera is fairly close. Everyone who sees this stunt is captivated by the possibilities. Whenever you want to show off the pictures or videos on your camera, there’s no need to transfer them to a computer or hunt for the TV cable; just aim the camera, set it on its little stand if you like, and maybe whip out the included remote control. You can take pictures on a camping trip, far from computers or TV sets, and conduct on-the-spot slide shows. Take pictures at a party and immediately show them off. Load up a memory card with PowerPoint slides and carry your sales pitch in your pocket. It’s fantastic. This miracle comes at a price, though. An equivalent camera without the projector costs about half as much. Furthermore, while the Nikon isn’t nearly as big as it appears in photos (it’s roughly the same size as most pocket cameras), it is just as homely. Both of these cameras represent huge high-tech leaps, for sure. Both have mighty zooms (5X or 4.6X), smile and blink detection, superb close-up modes (0.6 inches away), excellent facial recognition and so on. Unfortunately, neither of them takes particularly good pictures. That could be considered a drawback in a camera. As in most CoolPix and Samsung pocket cams, these models have tiny sensors, so blur is a problem in low light or when your subjects are moving. Shutter lag is a huge problem, so sports photography is nearly out of the question. (On the Samsung, the shutter sometimes doesn’t snap until a full second after you’ve pressed the button.) The Samsung’s shots also fall consistently short of crisp sharpness. Still, there are an awful lot of goodies to distract you from the photo quality. Let’s hope that the wow-inducing ingenuity on display here makes its way, eventually, to cameras that take wow-inducing photos.

High Risk Indicators

2009-10-17T18:54:00.001-07:00

You're just about to make that big trade, you're sure it's going to win big, your heart is pumping and everything is saying "buy." But then the red lights start flashing — from your bracelet. Analysts say that many risky trades could be avoided if only traders were not letting their emotions get the better of them, so Royal Philips Electronics and ABN Amro have teamed up to find a solution. Their answer is a flashing bracelet and natty-looking bowl that detects emotion. The "Rationalizer" consists of an "EmoBracelet" that measures the "arousal component of the user’s emotion through a galvanic skin response sensor," and an "EmoBowl." The higher the trader's arousal level, the more intense the lights on the bracelet and bowl become. When they get really worked up, the color shifts all the way from a yellow to a deep, warning red. When the red lights flash, it could be time to take a walk, or at least think twice before making that trade, the companies said. Whether a big flashing bracelet could add to the tension or not is yet to be seen, however. Philips and ABN Amro started work on the system before the collapse of Lehman Brothers and is aiming it at "serious home investors. "Research shows that home investors do not act purely rationally. Their behavior is influenced by emotions, most notably fear and greed, which can compromise their ability to take an objective, factual stance," the companies said in a statement. Experts are divided on whether emotions play a good or bad role in trading. "It's an interesting idea, but I don't think it's going to be very useful," Louis Gagnon, a professor of finance at Queen's University, told the Financial Post. "Emotion is central to the marketplace," he added.

AMD's revenue slides 22% to $1.4 billion

2009-10-17T18:53:00.000-07:00

Advanced Micro Devices Inc. (AMD) lost money in the third quarter but said Thursday that sales were stronger than expected, adding to mounting evidence that consumer spending is fueling a turnaround in the personal computer market. AMD sells about 20 percent of the world's computer microprocessors, which are the brains inside PCs. Although AMD was hurt by weak consumer and business spending on computers in the first half of the year, the chipmaker said shipments rose from the previous quarter thanks to strong demand for processors used in laptop computers. That's in line with what PC industry researchers reported earlier this week. The recession has squelched consumer demand for high-end PCs, but they continued to snap up inexpensive laptops and tiny "netbooks" in the third quarter. That pushed PC shipments into positive territory for the first time this year, according to IDC and Gartner Inc. Businesses, however, aren't expected to replace old computers until sometime next year.

It's not possible to tell from AMD's report whether PC makers were stocking up on chips to replenish low supplies, or because the computer makers expect to see a boom in sales through the holiday season. AMD's larger competitor, Intel Corp., has been more bullish than AMD in predicting a 2009 turnaround for the PC industry since spring. The chipmaker said earlier this week that the year will end with growth in PC sales. Sunnyvale, Calif.-based AMD posted a loss of $128 million, or 18 cents per share, narrower than its year-ago loss. However, the group that makes computer microprocessors reported $76 million in operating income - about half the amount it earned a year ago, but up from a loss of $72 million last quarter. AMD's revenue fell 22 percent to $1.4 billion. Analysts were expecting a steeper 30 percent decline, according to Thomson Reuters. Shares fell 11 cents, or 1.8 percent, to $6.08 in extended trading after the release of results. Earlier, it closed down 6 cents, or 1 percent, at $6.19 in regular trading.

Pakistan China cooperation to rise in trade, defence

2009-10-17T18:52:00.001-07:00

Pakistan and China will explore further opportunities to strengthen their strategic cooperation in various areas, including trade, defence and energy sectors during meetings of Prime Minister Yousaf Raza Gillani with the top Chinese leadership. Gillani will arrive here Monday (today) on a four-day visit to China, Pakistan Ambassador Masood Khan told a press conference here. He said the primary purpose of the prime minister’s visit is to attend the meeting of the Council of Heads of Government of Shanghai Cooperation Organisation (SCO) that will be held here on October 14. The Pakistani envoy told media that in Beijing, Prime Minister Gilani, in his meetings with President Hu Jintao and Premier Wen Jiabao, would explore the possibility of strengthening Pakistan-China cooperation in the areas of defence, investment, trade and people-to-people relations. Both the countries will examine ways to minimise the adverse impact of the international financial crisis. They would also coordinate their positions on UN reforms, climate change and international trade. A strong bilateral component has also been added to Prime Minister Gillani’s visit, Ambassador Masood Khan said. He pointed out that during his visit, Gillani will meet and hold talks with Premier Wen Jiabao and President Hu Jintao. He will also meet Wu Bangguo, Chairman of the National People’s Congress. He will address the SCO Council of Heads of Government and attend a banquet hosted by Premier Wen Jiabao in honour of the delegates attending the meeting.

Founded in 2001, SCO is a regional organisation focusing on security, confidence building and economic development. Its members are China, Russia, Kazakhstan, Uzbekistan, Kyrgyzstan, and Tajikistan. Pakistan, India, Iran and Mongolia are observers. Pakistan is an integral part of the geographical footprints of SCO neighbourhood. We would very much like to be a full member, the Pakistani Ambassador said emphasizing that Prime Minister Gilani’s participation in the SCO meeting in Beijing will give an opportunity to share the challenges Pakistan is facing in countering militancy and terrorism and in bringing stability to the region. Prime Minister Gillani would highlight that regional peace and social stability are prerequisite and essential for economic development and collective prosperity. Pakistan is committed to working towards these goals, Ambassador Khan said. Pakistan supports One China Policy and would continue to oppose any attempts to undermine its unity and territorial integrity. In the recent past, Pakistan had supported China’s policy towards ethnic harmony and social stability in Xinjiang, Ambassador Khan observed. China, he said, has always expressed its full support for Pakistan’s efforts to preserve its sovereignty, independence, and territorial integrity and expressed appreciation for Pakistan’s important role in promoting peace and stability in the region.

Dollar Versus Pak Rupee

2009-10-17T18:50:00.000-07:00

Almost 40 per cent devaluation of Pak rupee after the much-trumpeted democratic revolution has not only squeezed country's economy but has also tightened the noose around the common person's neck. The high-ups of the ruling and opposition parties after hushing up the issue of sugar prices are now busy in dissecting the Kerry-Lugar bill. Those who have mercilessly ravaged this country are seen these days making uneducated analyses of the bill in TV reality shows. Being generally devoid of economic and financial acumen, none of the democratic stalwarts appear concerned about the implications of Pak rupee's war against the dollar. Even our economic managers and monetary regulators do not seem concerned about the situation. They even can't give a cogent reason for this uncalled for sliding of rupee in the face of an improving economy and a comparatively better reserves position. They fail to explain how the previous government succeeded in keeping the dollar within a narrow band of 58-62 for almost eight years, and that why they are unable to keep the slide of rupee within a reasonable and manageable limit.

The impact of a weakening rupee on the economy is multi-dimensional with a number of negatives and a few dubious positives. The increased cost of inputs pushes the consumer goods prices to a high that is unmanageable even for the middle class, let alone the lower middle class and below-poverty-line hapless masses. GDP goes up, but so does the external debt liability in rupee terms. Since ours is an import based economy, any benefits enjoyed by the exporters are more than offset by a higher import bill in rupee terms. The higher export proceeds are not in dollar terms. For the exporters too, the gain is not an unmixed blessing; the increased cost of production wipes off most of the gains on proceeds side. The increase in GDP and GNP is not reflected in per capita GNP in dollar terms. During 2008-09, GNP recorded an increase of 29 per cent, but when seen in dollar terms, the per capita GNP showed a marginal increase of 1.2 per cent. Even this increase becomes unreliable when the GNP is measured against the current exchange rate of Rs.83.3 a dollar.

GNP AND DOLLAR EXCHANGE RATE FOR THE LAST NINE YEARS
YEAR	GNP (MILLION PAK RUPEES)	POPULATION IN MILLION	PER CAPITA GNP IN PAK RUPEES	$ EXCHANGE RATE	PER CAPITA GNP IN $
2000-01	4,155,391	140.36	29,605	58.44	507
2001-02	4,476,319	143.17	31,266	61.43	509
2002-03	5,027,460	146.75	34,260	58.50	586
2003-04	5,765,058	149.65	38,524	57.57	669
2004-05	6,634,243	152.53	43,495	59.34	733
2005-06	7,773,106	155.37	50,030	59.86	836
2006-07	8,830,638	158.17	55,830	60.63	921
2007-08	10,494,181	160.97	65,193	62.55	1,042
2008-09	13,502,906	163.76	82,455	78.24	1,054

The export side benefits are dubious because of falling rupee, which propels the input cost to higher levels making the manufacturing business quite expensive and thus leaving little room for product competitiveness in the global markets. Higher import costs bring in import based inflation. Energy shortage is a huge drag on the economy. Limited and expensive options like rental power projects do little to move the industrial wheel. In this scenario, whatever is produced is short on quality and long on production cost. More than halved oil prices have given respite to the economy. The global oil situation is pretty uncertain. The prices can move either way, yet the probability of northwards movement is higher. Unfortunately, we have developed a habit of shrugging off inertia in the midst of a crisis. We are not used to taking timely actions and making anticipatory moves. We got a chance when the oil prices were moving in the band of 32 - 40 dollars a barrel. We could have made use of forward fixed or option contracts to ensure cheaper crude supply for a certain period. But, we were then busy in settling more important political scores and had little time for mundane economic issues. An upward trend in oil prices will magnify our foreign trade distortions to the detriment of an already weak economy.

FOREIGN TRADE AND CURRENT ACCOUNT POSITION DURING THE LAST FIVE YEARS
BALANCE OF PAYMENT - US $ MILLION	2004-05	2005-06	2006-07	2007-08	2008-09
1. Export f.o.b	14,401	16,388	17,119	20,207	19,212
2. Import f.o.b	18,753	24,647	26,614	35,102	31,668
3. Trade Balance (1-2)	(4,352)	(8,259)	(9,495)	(14,895)	(12,456)
4. Services Receipts	3,837	4,718	5,239	5,410	4,043
5. Services Payments	9,678	12,022	13,207	15,726	7,325
6. Services Net (4-5)	(5,841)	(7,304)	(7,968)	(10,316)	(3,282)
7. Workers remittances	4,168	4,600	5,494	6,451	7,811
8. Other Income & Private Unrequited Transfers	4,272	5,314	4,608	4,597	(934)
9. Total Income & Private Unrequited Transfers (7+8)	8,440	9,914	10,102	11,048	6,877
10. Current Account Balance (3+6+9)	(1,753)	(5,649)	(7,361)	(14,163)	(8,861)

The most damaged single entity of our economy, in consequence of the rupee free fall triggered mainly by the political upheaval, was the stock market. After touching the 16,000 level, the KSE-100 index breached the 5,000 mark to completely shatter the investor confidence. The common small investors, as usual, were the main casualty; yet the avalanche took some stock bigwigs to the ground as well. Foreign portfolio investment vanished within a short period of one year. The omnipresent political uncertainty still deters the foreign portfolio investment from entering our stock market. The depreciated rupee has, however, started to attract foreign buyers, albeit in a very small way.

FOREIGN PORTFOLIO INVESTMENT DURING THE LAST FOUR YEARS (MILLION US$)
FOREIGN PORTFOLIO INVESTMENT	Fy-06	FY-07	FY-08	FY-09	Jul-09	Aug-09
Private	352	1,820	19	(510)	(4)	65
Public	613	1,468	21	(544)	-	-

Rupee's Weekly Report

2009-10-17T18:47:00.000-07:00

This article reveals in a flash for you, the currency trading trend for the Rupee against the top most traded currencies at close of the markets as on Saturday ^{10 th October}, 2009

RUPEE VS. DOLLAR
Rupee remained under tremendous pressure against the US currency amid significant rise in its demand on the local desk this week. The US dollar commenced new week's trading at Rs.83/05, posted gains and was trading at Rs.83/30 at close of markets on Friday. Thus, rupee gave up 0/25 paisas versus dollar in the kerb dealings.

RUPEE VS. POUND STERLING
The cable incurred mere losses versus rupee in the kerb market. Pound Sterling started off new week's trading at Rs.132/50, shed grounds in the local market and was changing hands at Rs.132/14 on Friday. Thus, rupee scored a gain of 0/36 paisas versus the British currency.

RUPEE VS. EURO

Euro continued to observe negative trend versus rupee in the kerb this week. The 16 nation currency opened new week's trading Rs. 121/75, shed mere grounds and was changing hands at Rs. 121/54 at close of markets on Friday.

RUPEE VS. YEN Japanese Yen continued to show appreciation against the local currency in the kerb market this week as well. Yen set off trading at 0/9114, posted more gains and was trading at 0/9139 at close of markets. Thus, rupee ended the current week on a negative trend versus Japanese currency.

Gold Rebounds From Biggest Drop in Three Weeks as Dollar Slides

2009-10-17T18:45:00.000-07:00

Gold climbed, rebounding after its biggest decline in three weeks, as the dollar’s five-day slide boosted investor demand for the precious metal. Bullion is on course for its third weekly advance, having reached an all-time high of $1,070.80 an ounce on Oct. 14 as investors bought physical assets to hedge against the weaker dollar and the threat of inflation. Commodity-based exchange- traded funds have almost doubled assets under management since the end of 2008, Barclays Global Investors reported yesterday. “The dollar’s downtrend remains intact and so does gold’s uptrend,” said Hwang Il Doo, a senior trader with KEB Futures Co. in Seoul. “A pause in the dollar’s loss may provide an excuse for investors to take profits which won’t of course alter the bullish outlook for precious metals.”

Gold for immediate delivery rose as much as 0.4 percent to $1,053.88 an ounce and traded at $1,053.05 at 10:10 a.m. in Singapore. Prices slumped 1.2 percent yesterday as record prices and a recovery by the dollar prompted selling. December gold futures gained 0.3 percent to $1,053.90 an ounce on the New York Mercantile Exchange’s Comex division. The Dollar Index, a six-currency gauge of the greenback’s value, fell 0.2 percent to 75.34. Commodity assets in exchange-traded funds jumped to $19.7 billion in the third quarter from $9.9 billion at start of the year, Deborah Fuhr, head of ETF research at Barclays, said yesterday. Assets climbed 20 percent from the second quarter.

Outlook

Gold may decline next week as record prices erode jewelry demand and prompt some investors to sell, a survey showed. Nine of 16 traders, investors and analysts surveyed by Bloomberg said bullion would fall. Five forecast higher prices and two were neutral. Bullion may decline to $1,025 an ounce then slide further toward the psychologically important $1000 mark, Commerzbank AG said yesterday, citing recent trading patterns. “We can see that the market is coming off and the daily relative strength index has registered a bearish divergence,” Karen Jones said in a report. “We remain wary of failure” of a weekly close above $1,057 an ounce. Among other precious metals, silver rose 0.7 percent to $17.48 an ounce and palladium gained 0.2 percent at $326.25 an ounce. Platinum fell 0.1 percent to $1,349.50 an ounce.

Oil Set for Biggest Weekly Gain in 2 Months as Stockpiles Fall

2009-10-17T18:43:00.000-07:00

Crude oil rose above $78 a barrel, capping its biggest weekly gain in two months, on an unexpected decline in U.S. gasoline stockpiles and refinery utilization. Oil advanced for a seventh day after the Department of Energy reported U.S. inventories of the motor fuel tumbled 5.23 million barrels last week, almost five times the decline forecast by analysts and the biggest drop in a year. The dollar continued its descent against the euro, bolstering the investment appeal of commodities. “We’ve got the fundamental drivers that are needed -- a positive DOE report and further softness in the dollar,” said Mark Pervan, a senior commodity strategist at ANZ Banking Group Ltd. in Melbourne. “It certainly has got some upward momentum. The upside is being justified.”

Crude oil for November delivery climbed as much as 59 cents, or 0.8 percent, to $78.17 barrel in electronic trading on the New York Mercantile Exchange. That’s the highest intraday price since Oct. 15, 2008. The contract was at $78.03 a barrel at 12:23 p.m. Singapore time. Futures are poised to gain 8.7 percent this week, the biggest increase since the week ended Aug. 21, amid signs of a recovery in global energy demand. U.S. gasoline inventories fell to 209.2 million barrels in the week to Oct. 9, a four-week low, the Energy Department said yesterday. Distillate fuel stockpiles also dropped more than forecast. The stockdraw “completely reverses the cumulative effect of the previous two weeks of softer data,” analysts at Barclays Capital, led by Paul Horsnell, said in a report. “The transition to a $70-to-$80 range is now in full cry.”

Refinery Runs
U.S. refiners reduced processing even as imports decreased, according to the Energy Department. Operating rates averaged 80.9 percent of capacity, down 4.1 percentage points from the previous week, to the lowest since mid-April. Refiners often idle plants in October for repairs and upgrades as gasoline demand eases and before heating-oil consumption picks up with the Northern Hemisphere winter. “The market now will swing toward looking at the refinery runs as an indicator of demand,” Pervan said. “It’s at a fairly critically low level. We need to see that turn around because we can’t blame it all on the seasonal slowdown.” The dollar’s weakness buoyed speculative demand for commodities, including gold. The U.S. currency fell to as low as $1.4967 per euro from $1.4947 in New York yesterday, when it slipped to $1.4968, the lowest since Aug. 13, 2008.

Nigerian ‘Hostilities’
The main rebel group in Nigeria said it resumed “hostilities” against the country’s oil industry and armed forces. The Movement for the Emancipation of the Niger Delta, which seeks more local control of the region’s oil wealth, started attacking at midnight, spokesman Jomo Gbomo said in an e-mailed statement. He didn’t elaborate. Rebel attacks on oil infrastructure have curbed Nigeria’s exports by more than 20 percent since 2006. The country, Africa’s most populous nation and a member of the Organization of Petroleum Exporting Countries, is the fifth-largest crude oil supplier to the U.S. Brent crude oil for December settlement rose as much as 54 cents, or 0.7 percent, to $76.77 a barrel on the London-based ICE Futures Europe exchange. The contract was at $76.53 a barrel at 12:19 p.m. in Singapore. The November contract expired yesterday at $74.45 a barrel.

Google Blowout Wall Street

2009-10-17T18:40:00.000-07:00

Google earnings blow out Wall Street estimates on cost control, click growth

Neither snow, nor rain, nor heat, nor gloom of night, nor the winds of change, nor a nation challenged, will stay Google (GOOG) from the swift completion of its seemingly inexorable march toward world domination. Google may not be the Postal Service, but it could be nearly as ubiquitous. In fact, if Google is acting like any government agency, it's the Federal Reserve, which prints money. Google continued to print money last quarter, according to Wednesday's earnings report, which handily topped Wall Street estimates, sending the company's stock price nearly three percent higher in after-hours trading.

Google's results give credence to the company's argument that it is better positioned than its rivals to handle economic turmoil. Taken with the results delivered by IBM (IBM), the blue-chip tech giant that also beat Wall Street expectations, Google's strong profit haul is further evidence that the technology sector is shaking off the recession. The search juggernaut reported net income of $1.64 billion, or $5.13 a share, up from $1.29 billion, or $4.06 per share, a year earlier. Total third quarter revenue was $5.94 billion, up from $5.52 billion in the second quarter and $5.54 billion a year ago. UBS internet analyst Brian Pitz called the results a "solid beat" in a note to investors shortly after the announcement. Pitz called the results "above our and Street estimates...on continued cost control" while earnings per share "came in better due likely to lower than expected hedging costs." Pitz said the increase in paid clicks was "likely due to better pricing in categories such as retail and auto."

During a conference call after the results were announced, Google Chairman and CEO Eric Schmidt called the results "all good news from our perspective" and said, "We believe the worst of the recession is behind us." He said the company, which has 20,000 employees worldwide, had slowed its hiring during the recession, but would be looking to increase its headcount moving forward. The company appears to have managed its expenses very well during the downturn, while continuing to innovate in its core business, rolling out new features on its myriad web advertising products. Schmidt said the company's performance -- aggregate paid clicks up 14 percent year over year -- has "given us the business confidence to invest heavily in the future as we see it." He said the company would continue its philosophy of 70-20-10, in which engineers spend 70 percent of their time working on Google's core search ad business, 20 percent on ancillary projects, and 10 percent on their own projects. Schmidt went on to say that despite the company's ventures into mobile and cloud computing, Google remains focused on its core business of web search advertising. "We want to get to the perfect search engine," Schmidt said.

The company certainly has the resources to throw around: It is sitting on a mighty cash hoard of roughly $20 billion. Schmidt said Google is "open for business in making strategic acquisitions both large and small." But for large acquisitions, there would have to be "some strategic rationale" such as a revenue boost or "large user base." Twitter anyone? Turning to the company's mobile efforts, Schmidt predicted that "Android adoption is literally about to explode. All the necessary conditions are there." Schmidt noted that Android had gone from being offered by one carrier on one device in one country to 12 devices in 26 countries on 32 carriers in less than a year. Google's Android market currently has 10,000 applications available. One of the key questions facing the company is how YouTube, Google's giant video site, intends to add to its parent's bottom line. "We're really pleased about YouTube's performance, and it's completely in line with what we said in the last call," said Patrick Pichette, Google's CFO. He said YouTube is on "a path to profitability in the not to distant future," adding that the video site is currently monetizing more than a billion video views per week.

Open Market Currency Exchange Rates (Forex Rates) in Pakistan

2009-10-17T18:38:00.000-07:00

Updated on: Sat, October 17, 2009, 16:49 (PST) Arrows of currency trend in the chart show forex exchange rates compared with the latest forex exchange rates Following are indicative forex exchange currencies rates Courtesy : ECAP
Remittance	Buying	Selling	Trend
US Dollar DD	0.0	0.0
US Dollar TT	0.0	0.0
Currency Notes
US Dollar	83.20	83.40
Kuwaiti Dinar	287.44	295.25
Malaysian Ringgit	0.0	0.0
Norwegians Krone	14.63	14.76
UK Pound Sterling	134.30	137.50
Saudi Riyal	22.11	22.20
Singapore Dollar	0.0	0.0
Swedish Korona	11.80	11.92
Swiss Franc	81.02	82.65
U.A.E Dirham	22.54	22.67
Bahrain Dinar	218.64	220.52
NewZealand $	43.5	43.8
Omani Riyal	214.81	216.10
Australian Dollar	75.38	76.09
Danish Krone	16.47	16.61
Euro	122.47	124.39
Thai Bhat	0.0	0.0
Canadian Dollar	79.33	80.08
Hong Kong Dollar	10.54	10.74
Qatari Riyal	22.62	22.93
Indian Rupee	1.58	1.68
China Yuan	0.0	0.0
Japanese Yen	0.9051	0.9117

How a Millionaire Thinks

2009-10-16T06:03:00.000-07:00

Back in the days when I was struggling just to survive - my wife, Zhannie, would often ask, "Do you think you'll ever be a millionaire?"

My answer never wavered. It was always an emphatic "YES!"

Even when times were tough and I was advised to give up my dream of a brighter future, my vision never faltered.

One of the things I always told myself was as follows: "If I can become a national champion in wrestling ... then I can become a millionaire. Afterall, what's the difference? Both are merely goals. And both are attainable if you simply find out what the elite in each category have done and do similarly."

This, as you know, is called Law of Cause and Effect. Find the person who has achieved the results you want (effects) and discover what caused it to happen (what did he do?).

Now, it would be one thing if I simply sat around saying affirmations like, "I am a millionaire." That would not only be a total waste of time - and, if you are willing to listen to my unadultered advice - I'll go so far as to tell you that saying affirmations like the above are the precise formula for disaster - not the "good life."

You do not make millions by repeating positive sayings.

You do, however, begin the process toward wealth creation by visualizing what you want, proclaiming that you DON'T yet have it ... then allowing a tension to build that DRIVES you to accomplish the thing.

Every child has this process down.

Once a kid learns to talk, his first words might as well be "I WANT."

Not I AM ... no - the key words of a child are "I WANT."

Daddy, I WANT this. Mommy, I WANT that.

And the child persists and keeps at it ... usually until you give in ... or convince him that he really wants something else or should be satisfied with something else.

Regardless, the child continues to add wants to the list - and so do adults that are truly awake.

A child who sees what he wants and proclaims "I WANT IT" is very much the same as someone with a millionaire mind.

The principle difference is that the child is often dependent on an adult doing it for him whereas the adult, once he proclaims that he wants something, must learn what needs to be done ... then he must do it himself or find others to help (not a bad idea and one I have used with great success - after all, no man is an island).

When I decided to attain great wealth via the publishing of my own "how to" books and courses, I did NOT know what I was doing. Not very well, that's for sure.

But I knew that others had blazed a trail before me - and I could learn from them. That's exactly what I did, too. Again, it's the simple and irrefutable Law of Cause and Effect.

I WANTED to make a fortune as an info-publisher. And so, with this desire in hand I looked for those who have done likewise and emulated (not to be confused with imitated) them.

It just so happens that I blazed my money making trail on the Internet, and the good news is that the method I teach is virtually the same whether you have a book or a bottle of vitamins you want to sell.

The method I have crafted can be emulated by YOU. Doing things the Furey Way is a superior way to go because I teach the way to wealth in a way no one else does.

I start with the image you have INSIDE. If it's flawed, I help you change it to an empowering image. Then I show you how to build your OUTER world to reflect your inner world.

True, you can study everything about success, including the specifics on how to make money ... you can even "take action" - but if your mental image is not in alignment with what you want ... if your feeling of deserving is off kilter, then you won't ever get what you want. Simple as that.

On the other hand, when your desire is matched by a mental image that is in harmony with what you want ... look out.

What you WANT will beat a path to your door so fast you'll wonder why you resisted it for so long.

First, have the DESIRE. Second, get the knowledge. Third, persevere until you succeed.

If you're willing to do the above, success will be yours.

Network Marketing - How to Start Easy and end Rich

2009-10-16T06:01:00.000-07:00

This article is written with an objective to give a birds eye view to the readers who plan to join multi level marketing and wish to stay till achieving financial freedom. We will cover them under following headings.

1. CHARM TO JOIN NETWORK MARKETING:
2. The BUSINESS SYSTEM:
3. QUALITIES OF A NETWORK MARKETING COMPANY:
4. HOME BASED BUSINESS OPPORTUNITY:
5. PRODUCT ACCEPTABILITY:
6. COMPANY CREDIBILITY:
7. PROSPECTING & INVITING:
8. HOW A CHILD LEARNS A SKILL:
9. HOW YOU LEARN NETWORK MARKETING:
10. WHAT HINDERS YOUR LEARNING PROCESS?
11. FEW SIMPLE STEPS TO NETWORK TRAINING:
12. HOW TO TRAIN YOUR MIND:

* * CHARM TO JOIN NETWORK MARKETING: * *

Multi-level or network or word of mouth or referral marketing is successfully growing like a wild fire and thanks to the development of computer technology and Internet for its growth.

Why should you choose multi-level marketing as a profession?

* Multi-level marketing (mlm) is the fastest growing industry
* The most millionaires are made in multi-level marketing (mlm)
* Most people are introduced to new products and companies by word of mouth recommendations (a finer definition of mlm)
* It's an exploding industry - estimated 50,000 new entrants in the industry every week!
* Low Start-Up Costs with typically under $1000
* Low Risk usually on product purchase that can be used personally or sold for a profit
* Experts predict that network marketing will be the franchising of the 21st century. Franchising currently does over $900 billion a year!

You must immediately become a part of network marketing future?

* * The BUSINESS SYSTEM: * *

Look out for companies having plans with several possibilities for there Distributors. A typical mlm company will operate in the following manner

* You buy a product and become a customer. When you opt to work you become its distributor
* You then refer prospects to company’s products.
* Few of the prospects choose to buy and become customers. Customers direct below you, are called Direct Customers.
* They may remain as customer or act as a distributor also. In such a case, they also refer their contacts to join.
* Their referred customers are also in their as well as your downline.
* These customers who are referred by your downline members are your Indirect References.
* Under your downline, direct or indirect sale are all considered your sales & you earn commissions.
* People you introduce will also introduce other sales and further expand your team

The commissions and rewards are paid under the widely popular BINARY system. There are other systems in vogue also like Party Plan, Stair Step Break a way, uni-level, Matrix, binary and hybrids of these systems

* * QUALITIES OF A NETWORK MARKETING COMPANY: * *

Your success in mlm is dependent on your joining a good company as well as how you view and accept it. Following factors can help identify a good, legally acceptable company. These carry “YES” points to qualify.

* Is the product universally acceptable?
* Is it easy to enter into the opportunity?
* Are you rewarded with direct as well as residual sales?
* Are you rewarded for personally sponsoring others?
* Are you rewarded for recruiting multiple levels?
* Is the focus on selling products to the end consumer?
* Are you rewarded for training and supporting your downline?
* Does the plan provide for recognition?
* Does the plan offer non-monetary rewards and incentives also?
* Is the plan's monthly maintenance requirement reasonable and not so high that you can never achieve it, and thus never receive compensation?

Conversely, here are few factors to watch out for when evaluating an opportunity. These should carry “NO” vote.

* A company does not discourage deadweight distributors and non-producers.
* A company that encourages inventory loading or large investments in product.
* A company that allows you to manipulate the compensation plans.
* A company that emphasizes gimmicks rather than selling a product.

* * HOME BASED BUSINESS OPPORTUNITY: * *

CNN reported that a new home based business is started every 11 seconds only in the U.S. alone. People are trying to move closer to home, to spend more time with their family and less time out in an office. NETWORK MARKETING IS QUICKLY BECOMING THE BEST TYPE OF HOME-BASED BUSINESS.

* It is a proven Marketing System: No need to have specific business experience or particular business skills. Companies provide training, guidance, as well as step-by-step approach towards attaining success and growth.
* No Need for Expensive Equipment: You can build a successful network marketing business with a phone-line, Internet connection and simple accounting system.
* No Need for Employees: No hassles of hiring and firing etc.
* No Territory Restrictions: International Expansion is Easy.
* The Opportunity to Earn Residual Income: Income that you receive whether you work or not so you can spend more time doing things you enjoy.

Do your due diligence and you will realize that working from home on network marketing (with the right company) is a goldmine!

This is how we define our Home Based Network Marketing Business:
# Pay no money to start your Network
# Earn money as well as high value jewelry
# Any country you may choose to work
# Real-time on-line set-up
# Life-time continuity and no strings attached

* * PRODUCT ACCEPTABILITY: * *

The most important thing to look out for a good mlm company is that it should have a legitimate product or a service to offer. A product/service that adds value in the market place is always welcomed.

* Most suitable products in mlm companies are considered those that are new, that needs to educate customers
* The products are normally easy to handle, universally acceptable, easy to transport, has worldwide acceptance and used all over the world.

* * COMPANY CREDIBILITY: * *

Network marketing/multilevel marketing is considered as a legitimate business in all the states of America. Not only here but over the world mlm is considered as a legal business and profession.

Just like any other business we do find unscrupulous people who misuse, misunderstand and misrepresent the system to fulfill their own requirements and ulterior motives. Several factors are behind the reason why mlm has unfortunately taken a bad name (I shall cover them in a separate article later).

* * PROSPECTING & INVITING: * *

Once you become a distributor this is the most important and vital feature that you have to tackle in your success journey. You will find how simple it can be and how you can start earning extra income over your lifetime.

Briefly, all you have to do is invite your close friends and family members to join the system, just as you have joined.
There are six steps in the prospecting and inviting procedure. (1) Invite, (2) Present, (3) Follow Up, (4) Enroll, (5) Train and (6) Duplicate. Your introducer & tutors can also help and guide you through the process.

INVITE: Dip into your address book and make a list of your closest friends and associates. Invite them to take first step to listen to your presentation.

* Two important elements that should come across in your message are genuine enthusiasm and personal conviction.
* When inviting, remember that you are not the opportunity, but you are inviting your prospect to see the opportunity.
* Make inviting a regular event. You can even do it in your spare time. The important thing is to take it easy. Don’t rush.
* Your message needs to be consistent. The quality of your message will continually improve.
* INVITING is not PRESENTING. The single purpose of the "Invite" is to find people who are willing to invest a little time in exploring an opportunity with the company.
* Commit, Commit, Commit: You really need to get them committed. The stronger you are at getting a commitment, the greater your ratio of success.

PRESENT: Thanks to all the advances in technology, there are several professional and time-effective ways to present your business.
* Online presentations through your company website
* Personal presentations based on the PowerPoint
* Auto-responder email is also a very powerful form of presentation.
* Always choose a presentation that can take place within 24 to 48 hours of your invitation email.

FOLLOW UP: It is an absolute must that you should remain in contact and follow up with the members who have joined and register. It is critical that your calls are made in no more than one to two days of their joining.

Prospecting and invitation are as simple and enjoyable as eating a piece of cake or you can make it as complicated and frustrating that you may drop dead and curse the day you started working in this line.

* * HOW A CHILD LEARNS A SKILL: * *

How you can make prospecting and invitation procedure enjoyable? This is by developing your mental image that you have already succeeded in mlm. Let me show you with an example of a child learning to walk.

* Every one encourages him
* Everyone smiles, hugs & kisses him on taking first step
* If he fells down & cries, you hug him but do not stop him to walk again. Everyone still encourages him
* Ultimately every child learns to walk
* The reason is that THE CHILD ALWAYS KNOWS HE CAN WALK.

* * HOW YOU LEARN NETWORK MARKETING: * *

This is exactly the case when you go out in the world to learn any skill or profession. The real life, situation is quite different. Your environment is not always positively inclined to encourage you.

Once a person grows up he comes across people from all walks of life. People whose likes and dislikes are different, whose professions and skills are different, whose up-bringing and out looks vary, who all interpret the life differently.

You have 100% chance of success in network marketing profession when you keep in constant touch with your leaders and trainers. They will encourage and guide you. They will pat you on your back and always give you impetus and push forward even when you stumble.

They are like your parents always knowing, always smiling, always patting, always assuring and always at your side if you fumble.

* * WHAT HINDERS YOUR LEARNING PROCESS? * *

* Few people around you will discourage, but you will also receive encouragement.
* When you join any company as a distributor few people are not happy and they do not encourage you. Some of them show scorn faces.
* If and when you fail to convince any friend or relative to join, you feel bad, dejected, hurt. You even feel as if you are rejected. Does everyone come forward and hug you? Do they support you? Lots of friends even stop you from taking any further action and step. They say, "See we told you". Not everyone gives you a sympathetic face.
* When you succeed to get business everyone doesn't give you a pat on the back, everyone does not commend you. You even come across such statements like "Oh! So what"
* Ultimately every distributor does not learn to earn.

* * FEW SIMPLE STEPS TO NETWORK TRAINING: * *

You have a very bright chance of success if you follow few simple steps.
* Changing your belief system is central to making any real and meaningful learning skills in mlm.
* Learning mlm should come in a way that they are consistent with your other beliefs and are lasting
* One powerful way to learn is to get you to take action.
* Take one step at a time. Take action consistently and over a period of time, as it is necessary to learn and make new mindset.
* Make a list of all the small or big achievements in your life. Start feeling those achievements in your mind now. This helps in creating a success image in your minds eye to guide you through.

The interesting thing is that we find successful people in all profession and careers. Further, we also find unsuccessful people in all professions and careers. We can safely conclude that success and failure are not related with the profession or career but with a mental attitude and frame of mind that we develop.

* * HOW TO TRAIN YOUR MIND: * *

Slowly and just loudly enough, read the following passage daily to yourself. This is only one of the techniques to reprogram and train your mind to help you achieve your goal.

“ “I have a strong desire to make the remainder of my life uncommonly successful. I am a high achiever at work that I do for living. I also genuinely enjoy my network marketing, even in difficult times. I strive to have a very rich and satisfying personal life, even when things are difficult in that aspect of my life as well. In addition I hope to have and sustain this uncommon success, not at the expense of any other person, if at all possible. My network marketing business is growing day by day and I am the reason by the power within me.” “

Demand of US Dollar Increased Again

2009-10-16T05:57:00.001-07:00

Comparing to yesterday's trade Rupee made a marginal recovery against US currency on the local desk today amid a little decline in dollar’s demand but it didn't lasts. The American dollar commenced new day’s trading at Rs.83/05, by gaining 00/05 paisa against the National Currency and remain the same at the close of markets on Tuesday. Thus, rupee ended the day on a negative versus dollar in the kerb. In the International dealings Sterling remains weak across the board and received no support from solid data released overnight. BRC retail sales monitor showered the fastest rise in 5 months by 2.8% yoy, a drastic improvement from -0.1% in August.

RICS House Price Balance improved more than expected to 22%, showing more than expected survey respondents report house price increase. RICS said lack of supply is still underpinning rise in hour prices and the imbalance between demand and supply will send house price higher in near term. Nevertheless, the pound is still weighed down by speculations that BoE would keep rates low for an extended period and may even expand the stimulus measure. British Chamber of Commerce said the quantitative easing program might expand by another GBP 25b to GBP 200b. Center for Economics and Business Research said earlier that UK interest rates will stay at a record low until at least 2011 and said the QE program might expand by another GBP 75b. Focus will turn to UK CPI to be released later today, which is expected to show further fall from 1.8% yoy to 1.7% yoy in September.

Sterling is also one of the main victim in the risk seeking even environment with much weakness in commodity crosses. Canadian dollar and Australian dollar remains firm as Asian equities rose broadly today following strength in DOW which made another 2009 high yesterday. Crude oil consolidates above 73 level after yesterday's strong rally. Following up on GBP/AUD, recent down trend is still in progress and dips to 1.7386 so far today. We'd expect the current fall to extend to double projection target of 1.60/61 level (100% projection of 2.2877 to 1.9684 from 2.0979 at 1.6104 and 100% projection of 2.7092 to 2.0231 from 2.2877 at 1.6016) before bottoming. On the upside, break of 1.8467 resistance needs to be the first sign of stabilization. Otherwise, outlook will remain bearish.

Elsewhere, while the dollar remains weak, in particular against commodity currencies, it's still staying in range against Euro and Swissy. DOW's failure to sustain at new 2009 high and Gold's consolidation below 1060 level is so far limiting the down side of dollar. As discussed before, crude oil's rally will possibly extend further to 75.0 level and beyond and thus will likely give the greenback further pressure. The sharp pull back in dollar index yesterday dampens the double bottom scenario and turns focus back to 75.78 in near term. Downside is back in favor as long as 76.68 minor resistance holds. On the data front, New Zealand retail sales rose more than expected by 1.1% mom in August.

Australian NAB business confidence dropped form 18 to 14 in September. UK BRC retail sales rose 2.8% in September and RICS house price balance improved to 22%. UK CPI, German ZEW and Canadian new housing price index will be released today. Intraday bias in GBP/USD remains on the downside for the moment and further fall is expected. As noted before, the break of 1.5769 support suggests that fall from 1.6740 is resuming. Further decline should be seen to 161.8% projection of 1.7043 to 1.6111 from 1.6740 at 1.5232 next. On the upside, above 1.5881 minor resistance will turn intraday outlook neutral first. But recovery should be limited below 1.6119 resistance and bring fall resumption.

In the bigger picture, bearish outlook remains unchanged. Decisive break of 1.6111 support confirmed the case that GBP/USD has topped out in medium term by completing a head and shoulder top reversal pattern (ls: 1.6742, h: 1.7043, rs: 1.6740). Also, note that medium term rise from 1.3503 is treated as a correction in the long term decline from 2.1161 and should have completed too. Medium term outlook is turned bearish and the current fall from 1.7043 is tentatively treated as resumption of the long term down trend, which should target a new low below 1.3503 eventually. On the upside, break of 1.6740 resistance is needed to invalidate this bearish view.

Rupee Boosted Sharply in the Kerb today

2009-10-16T05:56:00.000-07:00

US currency’s demand registered downward trend as rupee made a marginal recovery of 0/05 paisas against dollar in the kerb today. The US dollar kicked off yesterday's trading at Rs.83/20, shed some grounds today and was trading at Rs.83/15 at close of markets on Friday. Thus, rupee ended the day on a positive versus dollar in the kerb dealings. In the international dealings, Yen tumbled sharply overnight as DOW manages to extend recent rally and closed above 10000 mark for the second consecutive day at 10062.9. Crude oil's again to 78.17 also added some pressure to the Japanese currency. On the other hand, even though there is practically no change in the dollar's down trend, the near term outlook is mixing up a bit. The greenback didn't bother much with the strength and crude oil and indeed turned sideway against Euro and Canadian dollar even though rally in GBP/USD and AUD/USD persist.

Talking about yen, current weakness on risk appetite would likely continue for a while. USD/JPY extended the rebound from 88.00 and indicates that a short term bottom is at least formed. AUD/JPY is so far the strongest yen cross this week and has already met mentioned target of 61.8% projection of 70.74 to 91.98 from 76.32 at 82.26. The current rally will likely extend further to cluster resistance of 85.60/86.12 (61.8% projection of 55.53 to 80.43 from 70.74 at 86.12 and 61.8% retracement of 104.46 to 55.11 at 85.60) before making a top. One of the main focus today is Canadian CPI. The Canadian dollar is boosted by speculations that may hike earlier than originally expected after data last week showed unemployment rate dropped sharply from 8.7% to 8.4% in September. Nevertheless, the Loonie lost some steam this week even though crude oil extended recent rally to new 2009 high. Today's CPI report is expected to show headline inflation to dropped further to -0.9% yoy in September while core inflation is expected to slow to 1.4% yoy. Any upside surprise today would likely trigger rally resumption in the loonie.

Looking at EUR/CAD, there is no change in the view that whole choppy down trend from 2008 high of 1.7499 is still in progress. We'd expected test on 1.5183 low in near term first with prospect of falling further to long term fibonacci level of 61.8% retracement of 1.3285 to 1.7499 at 1.4895. Other data to be released today include Swiss retail sales, Eurozone Trade Balance, US TIC capital flow, industrial production and U of Michigan consumer sentiment. GBP/USD's rally extended further to as high as 1.6398 before treating mildly. At this point, intraday bias remains on the upside and further rise could still be seen to outer trend line resistance at 1.6465. Below 1.6212 minor support will turn intraday outlook neutral first and bring consolidation. Focus will turn to 1.5919 support for indicating that rebound from 1.5706 has completed.

In the bigger picture, bearish outlook remains unchanged. Prior break of 1.6111 support confirmed the case that GBP/USD has topped out in medium term by completing a head and shoulder top reversal pattern (ls: 1.6742, h: 1.7043, rs: 1.6740). Also, note that medium term rise from 1.3503 is treated as a correction in the long term decline from 2.1161 and should have completed too. Medium term outlook is turned bearish and the current fall from 1.7043 is tentatively treated as resumption of the long term down trend, which should target a new low below 1.3503 eventually. On the upside, however, break of 1.6740 resistance will indicate that fall from 1.7043 has completed already. The three wave structure will in turn suggests that it's merely a correction to the medium term rise from 1.3503 only, which is not completed yet.

Long Term Investing - Warren Buffett Style

2009-10-16T05:54:00.001-07:00

Anyone who has an interest in share trading will undoubtedly have heard of Warren Buffett because he is arguably one of the greatest investors of all time, if not the greatest. So how has he become one of the wealthiest people on the planet through stock market investing and what are his secrets?

Well quite simply he buys into outstanding market-leading companies and holds on to them for a very very long time. He has no regard for technical analysis or penny stocks that could double in the next few months. All he's interested in are the outstanding large-cap companies that are the market-leaders in their particular industry.

He likes to invest in companies that will continue to grow their business and their overall profits year after year. As a result despite all the short-term fluctuations, in the long run the value of his investments should appreciate substantially as the company continues to increase it's profits each year, and in the meantime he of course collects any dividends that the company pays out.

This is why he has become the wealthiest man in the world. He buys into top companies and holds on to them for 10 or 20 years, or even longer. There's no great secret to his success, as many people initially think. All he does is focus on the very best companies in a particular industry.

So should you use Warren Buffett's investing methods yourself when buying shares? Well it's entirely up to you but the sad fact is that most investors do not have the patience to trade this way. For most people long-term investing means holding a share for 2 or 3 years at the most, which is not really the Warren Buffett way.

It takes a lot of skill to be as successful as the great man. You need to do your research to find companies whose shares you will be happy to hold for years and years to come and in this economic climate even market-leading companies are not guaranteed to still be growing their profits and leading their industry in the years to come.

Finding Oversold Stocks To Invest In

2009-10-16T05:52:00.000-07:00

Investors use many different methods when investing in shares, but a common approach, and one which will always be popular, is to seek out potential bargains by looking for stocks that have been oversold.

The best way of doing this is by using technical analysis, and in particular oversold indicators. These indicators are generally oscillating indicators and give a strong indication of when a stock is oversold. Classic examples of such indicators include RSI, Stochastics and CCI, which indicate oversold positions when the indicator is below the 30, 20 and -100 level respectively.

I personally use all three of these indicators to indicate whether or not a company's share price is oversold, and if all three are below the oversold level then it's a strong signal that the stock is oversold. However you shouldn't just buy shares in every single company that is oversold on all three of these indicators as that's financially suicidal. You still have to be selective.

Once you've got a list of oversold candidates, you should then look at the fundamentals of each company. Share prices are generally low and oversold for a reason and if that reason is because a particular company has lots of debts and is in financial trouble then it's share price may well fall a lot further, and they may even go bust so you wouldn't want to buy shares in this company.

The best oversold positions are where a share price has risen strongly in recent months and/or years and has simply become oversold due to investors taking profits or because the wider market has fallen. In these cases finding companies that are oversold on the RSI, Stochastics and CCI can be extremely profitable.

There are no guarantees of course but investing in good quality companies when they are temporarily oversold can be extremely profitable. By good quality companies I mean companies that are growing their revenue, profits and dividend payouts year on year, and are likely to continue doing so in the coming years.

Of course even these quality companies can still be dragged down by the wider market, so it's still a good idea to use a stop loss because you can always sell and buy back later at a cheaper price. Just because a top company is oversold does not mean that it can't go even lower.

Options Pricing

2009-10-16T05:51:00.002-07:00

If you're new to options trading it's recommended that you become fully aware of how options are priced and what the various terms actually mean. It's all too easy to lose money when trading options at the best of times so you should certainly have a firm grasp of options pricing before you even attempt your first trade.

Let's first of all discuss the strike price (or exercise price). This is basically the price that the share price has to go above (in the case of a call) or below (in the case of a put) in order for your option to be in the money and therefore profitable. If it goes beyond this strike price in your favour then the option can be exercised for a profit before the expiry date but if it falls back below this level at the date of expiry then the option will expire worthless and you will have lost the amount that you paid for the option.

Each options contract is usually equivalent to 100 shares, at least in the United States, and the cost of the option contract is derived by multiplying 100 by the option premium. The price of each option consists of a number of factors but the most important ones are the intrinsic value, time value and volatility.

An option has intrinsic value if it is currently in the money, ie above the strike price for a call and below the strike price for a put, so the greater it is in the money the higher the intrinsic value and therefore the higher the option premium.

The other important factors are the time to expiry and the current volatility of the underlying security. For example an option that is well out of the money and has just a few days left until it expires will be extremely cheap because it is unlikely to get into the money within that time. Similarly if a particular stock is trading well out of the money and is not very volatile then this too will also be priced very cheaply because it barely moves. So basically the farther out of the money and the less volatile the security, the cheaper the option will be in general.

So to sum up this article on options pricing, the price of an option is basically dependent on the intrinsic value plus the time value, as well as the volatility of the underlying security.

What Is Options Trading?

2009-10-16T05:51:00.001-07:00

Options trading is becoming more and more popular with investors, particularly recently where traditional stock market investments have not performed very well in general. Options give investors and traders the chance to speculate on the price of a financial instrument at a given point in time in the future. This could be above or below the current market price so there is money to be made even in falling markets.

To explain further, an option contract is basically an agreement between two parties to buy or sell a financial instrument at a certain price at a given point in the future. A call gives the holder the right (but not an obligation) to buy an agreed quantity of a security at a specific price at a specific time in the future and a put gives the holder the right (but not an obligation) to sell an agreed quantity of a security at a specific price at a specific time in the future.

So basically if you buying a call you are expecting the price to go up in the future and be above the contract price (commonly known as the exercise or strike price), and if you buy a put you are expecting the price to fall and be below the strike price at the expiry date of the option. If the price fails to reach the strike price up until the option expires then it simply expires worthless and all you have lost is the value of the option that you paid for. If, however, it exceeds the contract price, then you are in the money and will make more money the more the price exceeds this contract price either at the time of expiry or before that time when you realise that option.

Options are generally available at prices above and below the current market price. So for example if a stock currently trades at $50 then you could have the option to buy calls or puts with strike prices of $40, $45, $50, $55 and $60, for instance, and could buy calls or puts accordingly depending on which way you think the price will go up until the expiry date of the option. The option contracts that are already in the money, ie buying a call at $40 or $45 will come with more of a premium so will be more expensive than those out of the money, ie the $55 and $60 contracts.

This all sounds extremely complicated but it's quite easy to understand once you grasp the basics. You will soon discover why options are such a versatile and potentially lucrative trading instrument. If you are an investor they can help protect your share portfolio and capitalize on any short-term weakness in your share portfolio, whilst if you are a trader you can make substantial profits if your options trades are consistently in the money.

Furthermore you also have the option of writing and selling your own options contracts. This is a lot riskier because you could end up losing substantial amounts of money if an option expires deeply out of the money from your point of view, because you have to actually deliver the contract. So therefore a lot of capital is required in case of an options trade going badly wrong which is why we will mainly focus on the buying of options on this website where the risk is greatly reduced because all you can lose is the price of the options contrace if a trade doesn't go to plan.

Options Trading Basics

2009-10-16T05:49:00.000-07:00

The term 'options trading basics' is somewhat of an oxymoron because options trading is quite a complex subject. It's certainly not something you should rush into because it is extremely risky which is why you should learn everything you possibly can about options trading before you even think about making your first options trade.

The very best way you can learn about options trading in my opinion is to grab yourself a copy of the 101 home study by Options University. This will teach you the basics of options trading and will also give you some top strategies you can use to set you on your way.

Otherwise you can check out the articles below which act as a basic introduction to the potentially very lucrative world of options trading:

Zecco Review

2009-10-16T05:48:00.000-07:00

Zecco which stands for Zero Commission Cost) is an American online discount broker that provides dealing facilities for both options traders and the more conventional stock market investors.

Zecco has really grown in popularity in recent years because of it's extremely competitive pricing. For instance stock trades are just $4.50 each, which is very reasonable in itself, but if you place 25 trades a month or maintain a $25,000 balance, then you get 10 trades completely FREE. Options trades are equally good value because they are a mere $4.50 per leg + 50c per contract. So on a cost basis they are very hard to beat.

You're probably thinking there are likely to be some hidden costs that they don't mention but in actual fact there are no annual fees or hidden charges at all. Zecco can afford to offer such competitive prices because not only do they keep their costs low, but they make most of their profits from the interest on customers' accounts and commissions from the options trades.

The only slight complaint people have had about them in the past is that their customer service hasn't always been that great, but they have been trying to address this problem in the last year or so.

Their platform is very easy to navigate and there is even a discussion forum where you can share ideas and tips with other traders and investors.

So overall if you looking for a reliable broker that will allow you to place cheap trades on stocks and options, then I strongly suggest you consider opening an account with Zecco

TradeKing Review

2009-10-16T05:46:00.000-07:00

Trade Account is one of the leading stock and options brokers on the internet after having won several top awards in recent years, including the #1 discount broker award from SmartMoney in 2006 and 2007.

They specialize in offering low rates to their customers regardless of the size of their account. So basically everyone pays the low price of $4.95 per trade on stock transactions and just $0.65 per options contract.

Once you a Trade King Account, you are free to trade a variety of different financial instruments including stocks, options, ETFs (exchange-traded funds) and mutual funds. You can even trade and manage your own Roth IRA account. The TradeKing platform itself is relatively easy to use and once you become accustomed to it, you will soon find lots of useful tools including alerts, charts, streaming news and a variety of free research tools to help you make your investment decisions.

Another great feature about TradeKing is that they also provide it's customers with lots of free educational material to help them make profitable investments and successful trades. So if you are not very experienced in stocks or options you can soon learn more by checking out the wide variety of tutorials that cover these subjects.

Overall TradeKing is simply an excellent stock and options broker and gets our highest recommendation. Not only do they charge very low fees but they also offer powerful investment tools and educational material and provide an extremely high level of service (as demonstrated by their award from SmartMoney in 2008 for best customer service).

What Is Technical Analysis?

2009-10-16T05:44:00.002-07:00

Technical analysis is the study of past market movements as displayed on price charts to predict future movements of share prices. When defined like that it does sound like a lot of nonsense but in actual fact technical analysis can be extremely accurate at predicting future price moves and many traders and investors, including myself, swear by it.

Technical analysis is used extensively amongst forex traders but it can be equally as profitable when used to predict the movements of stocks. Of course if you're a long term investor then you should also use fundamental analysis to select quality companies with low levels of debt and growing profits, but when you've done this you can then apply technical analysis to determine profitable entry and exit points.

So what are the basics of technical analysis?

Well first of all if you have access to stock charts, you will also usually be presented with a number of studies that you can apply to this chart. These technical indicators, of which there are many, can be used to identify current trends, indicate oversold and overbought positions, and show any breakouts that are taking place.

They work because they basically display human behaviour via a chart. They show the same sorts of trading patterns which occur over and over again because other traders see these same patterns and trade them accordingly. You could say that to a large extent technical analysis is a self-fulfilling prophecy because if enough people apply technical analysis to a particular company's price chart then the predicted move as indicated by the charts will eventually come true if enough investors make trading decisions based on the same technical data.

The most popular technical indicators are moving averages, MACD, RSI and Stochastics, but there are a number of other indicators you can use. It's best to try out different combinations of indicators to find ones that perfectly compliment your trading system. No technical indicators are perfect, whether they are used in isolation or combined with others, but the key is to use them to find trades where the odds of the trade generating a profit is significantly in your favour.

So to sum up, technical analysis is a great way of entering and exiting trades whether you are a short-term or long-term investor. It works on all time frames but is more effective when used on the longer time frames. The right combination of technical indicators can enable you to find high probability trades which can produce big profits if you cut your losses early and let your winning trades run.

What Is Fundamental Analysis?

2009-10-16T05:44:00.001-07:00

Fundamental analysis (in stock market terms) is basically the analysis of a company's financial accounts and financial data to determine whether or not a company is worth investing in.

For example if you study the financial accounts and see that a company has little or no debts, has a high dividend cover figure, is growing it's earnings and dividends year on year, and is basically financially sound, then you may well decide to add this company to your watchlist for further consideration.

Of course just because a company is financially sound does not mean it would make a great investment. For this you should try and value the company in some way to decide whether it's current share price makes it cheap or expensive. There are two ways you can find this information out.

The first is simply to look at the market capitalization (number of shares issued multiplied by current share price) and compare this figure to it's most recent pre-tax profits. If the market capitalization is less than 10 times pre-tax profits, for instance, then this indicates that it is currently quite cheap because if a company were to take it over at the current share price it would take less than 10 years to get their money back. If, however, it's greater than 20 then it's probably overvalued at the moment and you should wait for a better entry point.

The second method is to use the classic price/earnings ratio, or PE ratio as it's more commonly known. This works in a similar way in that you divide the current share price by the earnings per share. If it is trading on a low multiple it is considered cheap and vice versa. It's hard to use this figure on it's own as different sectors have different PE benchmarks so it's best used when compared with other companies in the same sector. You should also look at predicted PE ratios for the next few years as well if this information is provided as this will offer a good estimation of a company's future prospects.

On the whole fundamental analysis should be something that every investor should employ before investing in a particular company. Technical analysis is all well and good but it's completely useless if you end up investing in a poor-performing company or worse still, one that eventually goes bust. So even if you use technical analysis extensively, you should still always do your homework and look at the fundamentals of a company before parting with your hard-earned cash.

How To Choose A Share Dealing Service ?

2009-10-16T05:41:00.000-07:00

Nowadays many people like to make their own decisions when you comes to share dealing, and so execution-only stock brokers are extremely popular. These share dealing services allow you to buy and sell shares for a small flat-rate fee, regardless of how many shares you actually buy or sell per transaction.

For example Trade king one of the very best discount brokers, charges just $4.95 per trade, and another popular discount broker, charges $4.50 per trade with the first 10 trades per month being completely free (providing you have over $2500 in your account).

So as you can see the cost of actually buying and selling shares yourself is now extremely small. This is important, particularly if you are only looking to invest a small amount of money, because it means that the percentage rise you need before you are in profit is minimal.

So what should you be looking out for when choosing a share dealing service?

Well cost is clearly a major factor in most people's decisions, but with so many online discount brokers to choose from, this should not be the only factor. You should also take into account your own personal needs and requirements.

For example, if research is important to you you would want to look for share brokers that have excellent research tools, and similarly you may want to go with a broker that has good charting facilities so you can see if a particular company you are interested in is oversold, or in a strong upwards trend, for instance.

You may also require additional services such as the capability of placing options trades. This is a riskier, but potentially more lucrative way of trading shares but if you are a more advanced share trader, then it may be something to consider because not every execution-only broker offers this service.

You may also want to go with a share dealing service that offers additional services such as the option of trading ETFs and mutual funds, in addition to shares in individual companies. Individual share traders are becoming much more ambitious in the kinds of instruments they invest in, so these additional services are now extremely popular. Also a lot of stock brokers now enable you to trade your own Roth IRA accounts so this is also another excellent feature to look out for if this is of particular interest to you.

Finally another two factors to consider when choosing a stock broker are reliability and customer service. These are extremely important because during the more volatile periods of the day some of the lesser brokers can become extremely unreliable and in fact you will find that it can become impossible to actually execute any trades during these times.

So you want to look for a reliable broker and one that also takes customer service very seriously in case you encounter any problems. This information can be hard to find out beforehand but by reading customer reviews on various financial websites, you will soon discover which brokers are better than others. For example, TradeKing is considered by many to be one of the most reliable brokers and has in fact won a top award recently for it's excellent customer service.

In fact overall Trade king is, in my opinion, the best online share broker because it is reliable, has low fees and great customer service, and offers a wide variety of services including many of those I've mentioned previously such as the capability of trading ETFs, mutual funds and options as well as your own Roth IRA account.

Welcome To Stocks-And-Options.com...

2009-10-16T05:39:00.000-07:00

On this website you will find all the information you need to learn more about the exciting and potentially lucrative world of stock market investing and options trading.

Of course there is a big difference between these two activities because stock market investing is generally more of a longer term activity whereas the aim of options trading is generally to make short-term gains because each option has a specified expiry date. There is also the fact that with stocks you can only invest the amount you deposit with a share broker, so any gains are fairly restricted because they are in accordance with your capital, whereas with options trading your only cost is the cost of the option contract itself, but your gains are potentially unlimited if your option ends up in the money.

Don't worry, all this will be explained in more detail on this website which not only covers all the basics but also discusses more advanced investing and trading strategies you can use to trade the markets.

Also included on this website are reviews of stock market and options brokers as well as full reviews of all the different trading guides, software and tools you could possibly need to help you make money from the markets.

Okay now you're ready to get started. If you're a complete newbie to stock market investing or options trading I recommend you start off by reading the stock market basics and options trading basics pages. Then I suggest reading the strategies sections of this website to learn how to successfully make winning trades and investments. Some of these strategies, particularly when combined with Marketclub's Trade Triangles, are extremely powerful.

Forex Income Engine Is Now Live…

2009-10-16T05:38:00.000-07:00

The brand new forex day trading course from Bill Poulos, has just been released onto the market. This course provides you with a full trading system that you can use to trade the forex markets on an intraday basis.

Forex Income Engine is not cheap by any means but as with all of Bill Poulos' other products, it promises to be a top quality product. Bill has been trading the markets for over 30 years and is an expert trader so any products he produces are usually really high quality and a result of a lot of extensive testing and research.

So if you want to learn about a detailed forex trading method you can use every single trading day in order to become a profitable forex day trader, you may like to check out this brand new course. It's designed both for people who want to trade the forex markets all day, and for those people who maybe only have 20-30 minutes a day in which they can trade.

Income Engine has generated quite a lot of excitement with 77,000 people watching the promotional videos of this course. However only 250 copies are being made available so I suggest that you check it out as soon as possible if you think you may be interested in buying this course because it's bound to sell out very quickly.

Forex Course

2009-10-16T05:34:00.000-07:00

One thing I don't really do on this blog is talk about the basics of forex trading. I automatically assume most of my readers have a general understanding of how the forex markets work. However if you are looking for an entry level forex trading course, there is one course that I can highly recommend.

This course assumes you have no prior knowledge of forex trading and starts right at the beginning. Through a series of online videos you will learn all the basics of forex trading. You will also be taken through out some of the more advanced subjects such as how you can use price patterns, fibonacci techniques and various different technical indicators to trade the markets. In short you are basically given a complete education in forex trading.

Furthermore if that wasn't enough you are also provided with a simple, but very effective trading method that you can use to trade the markets. I use this method quite a lot myself on the intraday time frames and it works very well because it gets you into a trade whenever a currency pair is trending strongly upwards or downwards, so the odds are always stacked in your favour.

Forex Trading Strategies And Systems

2009-10-16T05:32:00.001-07:00

I've been trading the forex markets for several years now so I've developed quite a few different systems in my time. However there are some that are more profitable than others, so let me share you with you some of my most profitable forex trading strategies.

4 Hour Trading Strategy

I created this trading strategy myself and have been using it for several years now. This one system has generated more profits that any other system I have ever used, and yet it's surprisingly simple.

I simply look at the daily trend for a particular currency pair (usually the GBP/USD, EUR/USD or USD/JPY pair) using a very simple but effective technical indicator, then I wait for two EMAs (exponential moving averages) to cross over in the same direction on the 4 hour chart.

I will then enter a position (usually after a slight pull-back) and will employ a two-part exit strategy to maximise my profits. One half of the position will be closed out early for a safe profit, and the other half will be left to run for as long as possible in order to capture those really big price moves.

As I say, this particular forex trading strategy is highly effective, as regular readers of my blog will know because I share my trading results every week in my 'Weekly Trading Updates'.

Anyway if you would like to read all about my 4 hour trading method, you can access it (for free) by filling in the short form to the right and subscribing to my newsletter.

The only problem with trading this strategy is that there will always be quiet periods and particular days where you know you are not going to get any set-ups on any of the major currency pairs. Therefore at times like these I will often employ some of the other trading methods that I keep in reserve:

CCI Divergence Trading System

This is a forex system that I've recently created and it basically uses the popular CCI indicator with two different settings. The key here is to wait until there is divergence between both of the CCI indicators at the same time because this will give you a set-up with a very high success rate.

You don't get that many good set-ups per day using this trading strategy, but when you do, you are likely to make some decent profits because it is a very high probability set-up.

I have discussed this particular strategy elsewhere on this.

Forex Income Engine 2.0 Methods

At the time of writing (20 June 2009) I've just started using the three day trading methods included in the Forex Income Engine 2.0 course as well. I've always been quite sceptical about many of the short-term forex methods that I come across, but I've been very impressed with these three methods so far because they do actually produce some very good returns.

Forex Nitty Gritty Method

This trading method was included in the Forex Nitty Gritty course and although it is a very basic method, it is actually surprisingly effective. The goal is to look for pairs that are in strong upward or downward trends, wait for a pull-back, and then enter a trade if the trend continues.

I've been using this method on the 15 minute charts for quite a while now and it has always performed well for me because these continuation trends occur all the time.

Again if you would like to find out more about this particular trading method.

Long-Term Trading Strategy

I'm not really a long-term trader but I do occasionally open a position if a good trading opportunity arises. I will usually use the daily charts for these trades and will look at a variety of indicators such as the 200 day moving average, the supertrend indicator, established support and resistance levels, fibonacci levels if applicable, and Marketclub's excellent trading signals.

I will regularly post my long-term analysis of the various currency pairs on this blog, but I will only follow this up with an actual trade if I'm really confident about my predictions.

Other Forex Trading Strategies

Finally as well as all of the trading systems and strategies listed on this page, I also have a few breakout strategies that I like to use when a good opportunity presents itself. I'm also constantly testing out new ideas and reviewing the various trading systems that I get sent regularly by product owners who want me to promote their product.

However for the most part it's my 4 hour trading strategy that I spend most time on because this is my core system which generates the most consistent and reliable profits. All of the other forex trading systems are used to boost my trading pot during the quieter periods of the week.

Forex Trading Tips

2009-10-16T05:25:00.000-07:00

Why do hundreds of thousands online traders and investors trade the forex market every day, and how do they make money doing it?

This two-part report clearly and simply details essential tips on how to avoid typical pitfalls and start making more money in your forex trading.

Trade pairs, not currencies - Like any relationship, you have to know both sides. Success or failure in forex trading depends upon being right about both currencies and how they impact one another, not just one.
Knowledge is Power - When starting out trading forex online, it is essential that you understand the basics of this market if you want to make the most of your investments.
The main forex influencer is global news and events. For example, say an ECB statement is released on European interest rates which typically will cause a flurry of activity. Most newcomers react violently to news like this and close their positions and subsequently miss out on some of the best trading opportunities by waiting until the market calms down. The potential in the forex market is in the volatility, not in its tranquility.
Unambitious trading - Many new traders will place very tight orders in order to take very small profits. This is not a sustainable approach because although you may be profitable in the short run (if you are lucky), you risk losing in the longer term as you have to recover the difference between the bid and the ask price before you can make any profit and this is much more difficult when you make small trades than when you make larger ones.
Over-cautious trading - Like the trader who tries to take small incremental profits all the time, the trader who places tight stop losses with a retail forex broker is doomed. As we stated above, you have to give your position a fair chance to demonstrate its ability to produce. If you don't place reasonable stop losses that allow your trade to do so, you will always end up undercutting yourself and losing a small piece of your deposit with every trade.
Independence - If you are new to forex, you will either decide to trade your own money or to have a broker trade it for you. So far, so good. But your risk of losing increases exponentially if you either of these two things:
Interfere with what your broker is doing on your behalf (as his strategy might require a long gestation period);
Seek advice from too many sources - multiple input will only result in multiple losses. Take a position, ride with it and then analyse the outcome - by yourself, for yourself.
Tiny margins - Margin trading is one of the biggest advantages in trading forex as it allows you to trade amounts far larger than the total of your deposits. However, it can also be dangerous to novice traders as it can appeal to the greed factor that destroys many forex traders. The best guideline is to increase your leverage in line with your experience and success.
No strategy - The aim of making money is not a trading strategy. A strategy is your map for how you plan to make money. Your strategy details the approach you are going to take, which currencies you are going to trade and how you will manage your risk. Without a strategy, you may become one of the 90% of new traders that lose their money.
Trading Off-Peak Hours - Professional FX traders, option traders, and hedge funds posses a huge advantage over small retail traders during off-peak hours (between 2200 CET and 1000 CET) as they can hedge their positions and move them around when there is far small trade volume is going through (meaning their risk is smaller). The best advice for trading during off peak hours is simple - don't.
The only way is up/down - When the market is on its way up, the market is on its way up. When the market is going down, the market is going down. That's it. There are many systems which analyse past trends, but none that can accurately predict the future. But if you acknowledge to yourself that all that is happening at any time is that the market is simply moving, you'll be amazed at how hard it is to blame anyone else.
Trade on the news - Most of the really big market moves occur around news time. Trading volume is high and the moves are significant; this means there is no better time to trade than when news is released. This is when the big players adjust their positions and prices change resulting in a serious currency flow.
Exiting Trades - If you place a trade and it's not working out for you, get out. Don't compound your mistake by staying in and hoping for a reversal. If you're in a winning trade, don't talk yourself out of the position because you're bored or want to relieve stress; stress is a natural part of trading; get used to it.
Don't trade too short-term - If you are aiming to make less than 20 points profit, don't undertake the trade. The spread you are trading on will make the odds against you far too high.
Don't be smart - The most successful traders I know keep their trading simple. They don't analyse all day or research historical trends and track web logs and their results are excellent.
Tops and Bottoms - There are no real "bargains" in trading foreign exchange. Trade in the direction the price is going in and you're results will be almost guaranteed to improve.
Ignoring the technicals- Understanding whether the market is over-extended long or short is a key indicator of price action. Spikes occur in the market when it is moving all one way.
Emotional Trading - Without that all-important strategy, you're trades essentially are thoughts only and thoughts are emotions and a very poor foundation for trading. When most of us are upset and emotional, we don't tend to make the wisest decisions. Don't let your emotions sway you.
Confidence - Confidence comes from successful trading. If you lose money early in your trading career it's very difficult to regain it; the trick is not to go off half-cocked; learn the business before you trade. Remember, knowledge is power.

The second and final part of this report clearly and simply details more essential tips on how to avoid the pitfalls and start making more money in your forex trading.

Take it like a man - If you decide to ride a loss, you are simply displaying stupidity and cowardice. It takes guts to accept your loss and wait for tomorrow to try again. Sticking to a bad position ruins lots of traders - permanently. Try to remember that the market often behaves illogically, so don't get commit to any one trade; it's just a trade. One good trade will not make you a trading success; it's ongoing regular performance over months and years that makes a good trader.
Focus - Fantasising about possible profits and then "spending" them before you have realised them is no good. Focus on your current position(s) and place reasonable stop losses at the time you do the trade. Then sit back and enjoy the ride - you have no real control from now on, the market will do what it wants to do.
Don't trust demos - Demo trading often causes new traders to learn bad habits. These bad habits, which can be very dangerous in the long run, come about because you are playing with virtual money. Once you know how your broker's system works, start trading small amounts and only take the risk you can afford to win or lose.
Stick to the strategy - When you make money on a well thought-out strategic trade, don't go and lose half of it next time on a fancy; stick to your strategy and invest profits on the next trade that matches your long-term goals.
Trade today - Most successful day traders are highly focused on what's happening in the short-term, not what may happen over the next month. If you're trading with 40 to 60-point stops focus on what's happening today as the market will probably move too quickly to consider the long-term future. However, the long-term trends are not unimportant; they will not always help you though if you're trading intraday.
The clues are in the details - The bottom line on your account balance doesn't tell the whole story. Consider individual trade details; analyse your losses and the telling losing streaks. Generally, traders that make money without suffering significant daily losses have the best chance of sustaining positive performance in the long term.
Simulated Results - Be very careful and wary about infamous "black box" systems. These so-called trading signal systems do not often explain exactly how the trade signals they generate are produced. Typically, these systems only show their track record of extraordinary results - historical results. Successfully predicting future trade scenarios is altogether more complex. The high-speed algorithmic capabilities of these systems provide significant retrospective trading systems, not ones which will help you trade effectively in the future.
Get to know one cross at a time - Each currency pair is unique, and has a unique way of moving in the marketplace. The forces which cause the pair to move up and down are individual to each cross, so study them and learn from your experience and apply your learning to one cross at a time.
Risk Reward - If you put a 20 point stop and a 50 point profit your chances of winning are probably about 1-3 against you. In fact, given the spread you're trading on, it's more likely to be 1-4. Play the odds the market gives you.
Trading for Wrong Reasons - Don't trade if you are bored, unsure or reacting on a whim. The reason that you are bored in the first place is probably because there is no trade to make in the first place. If you are unsure, it's probably because you can't see the trade to make, so don't make one.
Zen Trading- Even when you have taken a position in the markets, you should try and think as you would if you hadn't taken one. This level of detachment is essential if you want to retain your clarity of mind and avoid succumbing to emotional impulses and therefore increasing the likelihood of incurring losses. To achieve this, you need to cultivate a calm and relaxed outlook. Trade in brief periods of no more than a few hours at a time and accept that once the trade has been made, it's out of your hands.
Determination - Once you have decided to place a trade, stick to it and let it run its course. This means that if your stop loss is close to being triggered, let it trigger. If you move your stop midway through a trade's life, you are more than likely to suffer worse moves against you. Your determination must be show itself when you acknowledge that you got it wrong, so get out.
Short-term Moving Average Crossovers - This is one of the most dangerous trade scenarios for non professional traders. When the short-term moving average crosses the longer-term moving average it only means that the average price in the short run is equal to the average price in the longer run. This is neither a bullish nor bearish indication, so don't fall into the trap of believing it is one.
Stochastic - Another dangerous scenario. When it first signals an exhausted condition that's when the big spike in the "exhausted" currency cross tends to occur. My advice is to buy on the first sign of an overbought cross and then sell on the first sign of an oversold one. This approach means that you'll be with the trend and have successfully identified a positive move that still has some way to go. So if percentage K and percentage D are both crossing 80, then buy! (This is the same on sell side, where you sell at 20).
One cross is all that counts - EURUSD seems to be trading higher, so you buy GBPUSD because it appears not to have moved yet. This is dangerous. Focus on one cross at a time - if EURUSD looks good to you, then just buy EURUSD.
Wrong Broker - A lot of FOREX brokers are in business only to make money from yours. Read forums, blogs and chats around the net to get an unbiased opinion before you choose your broker.
Too bullish - Trading statistics show that 90% of most traders will fail at some point. Being too bullish about your trading aptitude can be fatal to your long-term success. You can always learn more about trading the markets, even if you are currently successful in your trades. Stay modest, and keep your eyes open for new ideas and bad habits you might be falling in to.
Interpret forex news yourself - Learn to read the source documents of forex news and events - don't rely on the interpretations of news media or others.

Internet Marketing – Past Present Future

2009-10-16T05:22:00.000-07:00

Believe the hype. The Internet and the World Wide Web have become the most important new communication media since television, and ones that are fundamentally reshaping contemporary understanding of sales and marketing.” – Jim Sterne. During the last part of the 1990s, the Internet boom saw all kinds of brand new companies that were developing services and products that literally capitalized on the Internet’s potential.

Unfortunately, the push-to-market often resulted in very poor planning and many business models failed to include realistic and profitable business objectives. When the year 2000 ended, many of the above mentioned companies closed their doors. After this black period, the surviving and the new opened companies realized that the web-based strategies and techniques must be taken into consideration just like any other classic marketing tools. The basic questions regarding marketing must still be answered, some of them are:

• Are the business models realistic?

• Who are the customers?

• Which mix marketing strategies are efficient?

• What is the competition doing?

Besides these traditional issues, the internet marketing world had other things to offer:

• Search Engine Optimization ( SEO ) – considered by many to be the most cost-effective method for attracting visitors to a website by getting that website listed on top search engines and directories. This method asked many crucial questions, such as: How can this be accomplished in an efficient way? On-site or off-site optimization? Which keywords are most efficient?

• Pay Per Click Advertising ( PPC ) – the quickest and easiest method to create instant online presence. All PPC campaigns can be created and launched within 2 weeks and the costs are determined by the keyword search volume and the keyword market value. The most important question regarding this method is: How to ensure that owners get the most return on their investment?

• E-Mail Marketing – a custom newsletter design which is combined with a very powerful e-mail management system that sends engaging e-mail, promotions, newsletters, which will stand out above the rest, is one marketing method. Questions raised by this method are: What is a drip campaign? What is an auto-responder?

• Advanced Web Statistics – this method brings more information besides the basic question of how many hits the site receives. These statistics allow owners to measure vital information in a very easy matter, some of the info includes: Where are the visitors coming from? How long do they stay on the website? Which pages are the most popular among visitors? Which of the pages cause visitors to exit the website? The most important issue regarding this method is diagnosing the problem areas and determining the results of a campaign.

In the future, websites will be more personalized, as they will cater to consumers and niche markets. Internet marketing through audio newsletters will probably become a more accessible tool for targeted audiences. Other predictions made by experts regarding the future of Internet Marketing are:

• 50% of experts affirm that anonymous, free, music file sharing on P2P (peer-to-peer) networks will still be easy to perform a decade from now

• 59 % of experts agreed with a prediction that more and more business and government surveillance will occur as computing devices proliferate and become embedded in appliances, phones, clothes and cars

• 56% of experts agreed that as telecommuting and home-schooling expand, the boundary between leisure and work will reduce and family dynamics will change due to this reason

• 57% of experts agreed that virtual classes will become more widespread in formal education and that students might, at least occasionally, be grouped with others who share their interests and skills, rather than by age

All things considered, Internet Marketing is one of the most important aspects of the Internet world and many people are considering that this domain will have a very long future, along with the Internet. All website owners will have to take into consideration at least one Internet Marketing technique

10 Important Reasons For Taking Out A Life Insurance Policy

2009-10-16T05:19:00.000-07:00

Insurance is designed to protect you from disasters and their financial consequences. There are many kinds of insurance and the the most important of these is considered to be life insurance which makes financial provision for your family following your death.

As there are various financial commitments you need to meet in life you need also to provide something even in death to ensure the security of the family home, to help the family meet expenses at least for a short time, to protect dependent parents or to provide security for your spouse and children.

These financial obligations could well include your funeral expenses, unsettled hospital and other medical bills, mortgage payments, business commitments and meeting the college expenses of the children.

Precisely how much insurance you will need varies depending on your lifestyle, financial needs and sources of income, debts, and the number of dependents you are responsible for. In the main an insurance adviser or agent would recommend that you take insurance cover that is five to ten times your current yearly income.

An important part of your financial planning, whole life insurance gives you peace of mind for any uncertainties in life.

1. Adequately planned life insurance will provide funds in the case of unexpected death to deal with debts, mortgage payments and day-to-day living expenses. It offers protection to the family you leave behind and serves as a cash resource.

2. It secures your estate on death by providing tax free cash which can be utilized to pay estate and other death duties.

3. Life insurance policies can also have a savings or pension provision which can help to fund you during retirement.

4. Some policies have riders such as restricted coverage of term insurance or critical illness for the children or spouse. There are particular rules considering eligibility for riders which you will have to clearly understand.

5. In case of bankruptcy the cash value, together with the death benefits, of any insurance policy is exempt from your creditors.

6. Holding a valid insurance plan is considered as having a financial asset and this will improve your credit rating when you need medical insurance or a home loan or business loan.

7. Term life insurance has double benefits as it protects and you can also your money back during strategic points in your life.

8. Life insurance can be planned such that it will even cover the expenses of your funeral.

9. Insurance can protect your business from financial loss or any liabilities in case a business partner dies.

10. It can contribute towards sustaining a family’s standard of living when one contributing partner dies unexpectedly.

Insurance forms a vital part of sound financial planning but you do have to evaluate both your personal risk and your longer term commitments.

Plans, give you the security you need for your dependents and also act as a good form of financial security against which you are able to borrow.

Free Credit Report Scams Increase As Credit Crisis Gets Worse

2009-10-16T05:16:00.000-07:00

As the worlds economic crisis deepens more and more people are for the first time in their lives, having to deal with bad credit. And like a lot of average consumers, many of these people have never seen real copies of their credit report before. Once someone decides to try to increase their credit rating one of the first things they usually do is try to find out how to get copies of their credit reports.

This is where a lot of companies who are out to take advantage of the average consumer come into play. Just because you see advertisements all over the Internet, T.V., and radio about getting free copies of your credit reports doesn’t mean that there isn’t some sort of catch to it. Over 99% of the time when searching for a company that can offer you your 3 major credit bureau credit reports for free you will be asked to purchase some other kind of product or sign up for a credit monitoring service in order to receive your free credit reports.

But if you are being asked to pay for something else before you get to see your “free” credit reports than is it really free? That is the question that many people are asking themselves after signing up for a credit monitoring trial just to see their credit reports. Only to find themselves paying a monthly fee for a service they never really wanted just because they forgot to cancel their membership in time.

More and more companies are taking aim at the increasing number of consumers whose credit is negatively being affected by the ongoing credit crisis. Even going directly through the credit bureaus themselves to obtain your credit reports can end up being very costly. There are some websites out there where you can learn the tricks of the trade when it comes to getting your free credit reports without being suckered into signing up for any kind of service. Don’t allow yourself to be fooled by these companies any longer.

Forex VS Stockes

2009-10-16T05:14:00.000-07:00

When the company does well and makes a profit, the value of the stocks rise. Stock owners can sell their shares for a profit or hold on to the stock for even more gain in the future. Sometimes companies will issue dividends – part of the profits that are distributed to share holders.

Stocks are traded on stock exchanges. Most stocks are bought and sold through brokers who charge a commission or fee for this service. American stock exchanges include the New York Stock Exchange (NYSE) and the National Association of Securities Dealers Automated Quotation System (NASDAQ). Most stocks are only listed on one exchange, although large companies may have listings on several exchanges.

Best Forex Trading Software – Automatically Generate Your Trading Decisions When You Relax.

Stocks were traditionally seen as long term investments. So called ‘blue chip’ stocks – those having proven value over many years – may form the backbone of an investment portfolio. Short term trading is a relatively new phenomenon made possible with the advent of Internet trading. Day traders attempt to take advantage of large daily fluctuations in the market by buying and selling many times in one trading period. It is relatively risky and any profits realized are reduced by broker commissions charged on each transaction.

Stocks may sometimes be bought on margin, meaning that the investor borrows money to buy the stocks. Margin rates are usually around 50% – the investor can borrow as much as half the value of the stock.

FOREX

The Foreign Exchange Market (FOREX) is quite different from the stock exchange. In contrast to the stock exchange, the FOREX is primarily a short term market. Most traders enter and exit deals within a 24 hour period – sometimes within a few minutes. Many FOREX trades can be made in one day without building up a large brokerage fee because FOREX trades are commission free. Brokers earn money by setting a spread – the difference between asking and selling prices.

The FOREX is the largest financial market in the world. It is handles transactions worth $1.5 trillion every day. By comparison, all the American stock exchanges combined handle daily transactions worth about $100 billion. The huge volume of FOREX means that it is one of the most liquid markets in the world. There is always a buyer and seller for any type of currency because the world economy relies on the movement of goods from country to country. The stock market is less liquid because participants may choose to hold their investments or move on to other markets.

The FOREX is not located in any one location. Trading markets are located world-wide and because of difference in time-zones trades can be made 24 hours a day, 5 days a week. Trading begins in Sydney, Australia on Monday morning (Sunday afternoon New York time) and continues non-stop until Friday afternoon New York time.

Stock exchanges have more limited trading hours. While it is possible to trade on exchanges world-wide, each exchange is independent and operates for just 7 hours a day. There is no way to buy or sell a certain stock that is only traded on one stock exchange when that exchange is closed.

Other advantages of FOREX? It is more predictable than stocks. It follows well established trends; it allows high leverage – typically 100:1 instead of 2:1 on the stock market; and it doesn’t require a large investment – mini accounts as small as $250 can get you started in FOREX.

Best Forex Trading Software – Automatically Generate Your Trading Decisions When You Relax.

What Attending Forex Seminar Can Do For You?

2009-10-16T05:09:00.000-07:00

Being a Forex trader requires that you stay up to date on many different aspects and one of the best ways to accomplish this is by attending a Forex Seminar. As with any business the more you know and the more you network the better off and more prepared you will be.

What is Forex?

The word Forex comes from a combination of the words “For”eign and “Ex”change. Simply put it is investing and trading in foreign currencies hoping to make a profit. For example you may purchase Euros betting that the currency will outperform the US dollar. If it does then you make money. There is also a risk and as with an investment you can lose money. However, if you keep the information you are receiving current you can help take some of the risk out of the equation.

Best Forex Trading Software – Automatically Generate Your Trading Decisions When You Relax.

What Can Attending a Seminar do for Me?

Attending a seminar can give you an edge over competitors. This gives you an opportunity to establish new contacts which are always helpful. This increases your access to knowledge, the more people you know the more input you are likely to gain. You will also have more people that you can seek advice from when you need to.

Where Are These Seminars?

Forex seminars are held all over the world. You will certainly be able to find some that are located in your general area. If you are not in a position to be able to travel frequently there are many companies that offer these seminars online. You can also find some of these online seminars at no cost. They will only give you the basics but it will help you be able to decide if Forex trading is a venture you actually want to enter into.

What Will I Learn?

You will learn a wealth of information. It can be anything from a newbie learning how to become a Forex trader to teaching old pros things like how to really understand how to read an economic forecasting report. Then you can learn things about short term trading, Euro trading, and how to build your portfolio. These are very important aspects that will help you as a Forex trader.

Attending a seminar that will help you understand the Forex trading system is a good idea. Currency trading is different than the stock market and has different indicators and risks. One good example of the differences is that on the stock market anyone interested in buying the stock will pay the same price. The currency market is different and the more money you are trading the better your rate.

You will also learn what your risk tolerance is. That means they will teach you how much your portfolio can stand to lose and what you should limit yourself to in terms of risk. As with any investment there is a risk/reward factor and you need to understand that yes, there is money to be made but you can also lose money and understanding that line will help you immensely. So when looking to understand Forex trading, one of the best things you can do is attend a Forex seminar where you can talk to and get advice from the experts.

Buying and selling Commodities with Easy-Forex

2009-10-14T18:40:00.000-07:00

Buying and selling commodities on the Visual Trading® platform is as quick and easy as it is to trade currencies. Easy-Forex® allows trading in various commodities against the US Dollar.

Energy Commodities

The energy commodities which can be traded on the Easy-Forex® platform include, WTI Crude Oil, Brent Crude, Gas Oil and Heating Oil. These commodities are traded in open outcry or electronic markets and are usually traded for the purposes of speculation or hedging. They are now available to trade through the Visual Trading™ platform at Easy-Forex®.

Commodities futures contracts are usually the products traded in commodities exchanges. A futures contract is a contractual agreement to buy or sell a particular commodity or financial instrument at a pre-determined price in the future. In your account you will be able to trade commodities as Day-Trades keeping in mind that the deals are cash settled (there is no delivery of the product) and they must expire on a set date in the future. This date is based on the next futures delivery month on commodity exchanges.

A basic overview of the energy commodities on offer

WTI Oils: West Texas Intermediary (WTI) light sweet crude oil is traded on the New York Mercantile Exchange (NYMEX). It is the most popular oil futures contract, regularly quoted as the benchmark for oil prices globally.

Brent Crude: A light, sweet crude oil sourced from the North Sea primarily traded in the London Brent market. It is named after the Brent goose by the Dutch oil company Shell.

Gas Oil: One of the products of crude oil primarily used for heating and power generation. After petrol, this product represents the largest segment extracted from crude oil.

Heating Oil: Heating oil is a refined product of crude oil. In Europe it is known as Gas Oil and is used especially to heat North American homes.

US dollar falls to 14-month euro low

2009-10-14T18:34:00.000-07:00

LONDON: The dollar slid to a 14-month low against the euro Wednesday as investor appetite for risk increased following upbeat comments from Intel Corp. and after a top Federal Reserve official indicated US interest rates would likely remain low for a quite a while.

By early afternoon London time, the euro was trading 0.3 per cent higher on the day at $1.4896, just down on the 14-month high of $1.4913 it hit earlier in the session.

Meanwhile, the dollar was 0.5 per cent lower against the Japanese currency at 89.20 yen.

As usual since the financial crisis became most acute just over a year ago, the dollar has been sold off heavily at as stock markets have rallied strongly, and faltered more ahead of what was expected to be a strong opening on Wall Street following further signs of an economic recovery in China and optimistic statements from Intel, the world’s largest chip maker.

Dollar investments such as US Treasuries are seen a safe haven in times of anxiety. But as doubts fade, money moves out of dollars and into riskier and potentially more profitable investments such as stocks and commodities, sending the dollars’ exchange rate down.

Further undermining the dollar were comments from the US Federal Reserve’s vice chairman Donald Kohn.

In a speech in St. Louis, Kohn hinted that interest rates in the US — currently the benchmark federal funds rate stands at an all-time low of between 0-0.25 per cent — would remain low for an extended period and that a ‘V-shaped recovery is not the most likely outcome.’

Neil Mackinnon, global macro strategist at VTB Capital in London, said as long as the Fed continues its expansive monetary policy then the dollar would remain under pressure, as cheap dollars are being used to fund potentially lucrative purchases in stock and commodity markets.

‘Until the Fed turns off the liquidity tap, these trends will remain in place and the likelihood is that the dollar will continue to fall,’ he said.

The minutes to the last meeting of the rate-setting Federal Open Market Committee are due to be published later and the markets will be closely monitoring them to get a clearer idea on how the Fed plans to eventually withdraw monetary measures enacted since the credit crisis began over two years ago.

Last week, the markets were excited by comments from Fed chairman Ben Bernanke that the central bank has to be ready to raise interest rates and take back the trillions of dollars it has pumped into the money markets to boost liquidity. The dollar briefly rose.

The US currency, which has been falling for the best part of eight years, has been under particular pressure in recent weeks amid growing talk about its future as the world’s reserve currency.

Recent figures from the International Monetary Fund showed that the dollar’s share of total reserves has fallen to its lowest level since 1995. Meanwhile, Robert Zoellick, a former US trade representative who now heads the World Bank, warned that the currency’s status as the world’s leading reserve currency should not be taken for granted.

The dollar’s ongoing falls against many of the world’s leading currencies, with the notable exception of many of Asia’s currencies, which are effectively pegged to the dollar by governments in the region, is beginning to cause mounting concerns in the capitals around the world if the rising rhetoric is any guide.

Over the last 24 hours or so, Japan’s senior vice finance minister Naoki Minezaki said dollar weakness was likely to persist, while Canada’s Prime Minister Stephen Harper voiced his concern about the rise in the Canadian dollar. And New Zealand’s finance minister Bill English said the Kiwi dollar’s ongoing strength raised questions over the recovery.

Simon Derrick, currency strategist at Bank of New York Mellon, said more concerns are likely to be voiced in the weeks leading up to the Group of 20 finance ministers meeting in Scotland in early November. European governments worry that a rising euro will choke off the fledgling economic recovery in the 16 countries that use the euro.

A rising euro raises the cost of European goods in the US and so could dampen any European recovery.

Derrick said the Europeans will likely join the Japanese to urge the US to say enough is enough and intervene to halt the dollar’s eight-year slide.

The question is, will Timothy Geithner, the US Treasury secretary, be any more likely to support the dollar’s exchange rate than his predecessors, most notably John Snow.

Five years ago, Snow put an end to any notion of a multilateral response to the dollar’s decline by stating that the history of managed exchange rates had a patchy record.

Derrick thinks that Geithner will say something very similar ‘unless the dollar is truly collapsing’ and that, as a result, the dollar will continue to fall over the months ahead — and that the euro could break its all-time of $1.6038.— AP

Crude Oil's Threat to the Dollar

2009-10-14T18:32:00.000-07:00

NEW YORK ------Crude oil is trading from more than $75.00 per barrel for the first in 2009, and it could move to the next technical levels around $77 and $82 if investor optimism about crude demand continues to increase in line with the global economic expansion story.

"If oil prices approach $80 over the coming weeks then the U.S. currency will become even weaker against the majors if the current inverted correlation holds at such high levels", said Grega Horvat.

"The U.S. dollar may then lose the most against the Canadian dollar, where the pair could once again reach the $1.00 level," Horvat added.

Like other commodities that are traded internationally, oil is priced in dollars, so a long oil position automatically creates a short dollar position, and vice versa. The question will be whether oil can move through near-term resistance at the same time that the dollar index is hitting major support areas.

The last time that the dollar index hit 75.00 as support it bounced higher and moved toward 82.00. At that time the dollar/oil correlation was loosened, and the same thing could happen again.

Countries with natural reserves of oil, which are already priced in dollars, are moving away from also holding dollar paper (Treasury bills or dollar notes) as their currency reserves.

Why have dollar reserves in the ground and in the bank vault too? If the dollar depreciates, both oil and dollar-denominated paper will too. Saudi Arabia has started a move to euro paper, and most other oil exporters are beginning the realignment process as well.

WORLD FOREX:Euro Hits 14-Mo High Vs Dollar On Low U.S. Rates

2009-10-14T18:31:00.000-07:00

TOKYO (Dow Jones)--The euro rose to a 14-month high against the dollar in Asia Wednesday amid the broad greenback weakness due to growing expectations the Federal Reserve will keep interest rates low for at least the next year.

The yen also rose against the U.S. unit and the two currencies could rise even further later in the day because of a dearth of dollar-supportive factors, dealers said.

U.S. Federal Reserve Vice Chairman Donald Kohn said overnight in a speech in St. Louis that he expects "the persistence of economic slack, accompanied by stable longer-term inflation expectations, will keep inflation subdued for some time."

The dovish comments sent the yield on the benchmark 10-year Treasury down to 3.32%. The lower interest rates, coupled with the latest sign that they are likely to stay depressed well into next year, prompted players in Asia to offload dollars, dealers said.

That caused the greenback to weaken broadly against its rivals, particularly against currencies offering higher yields such as the euro and Australian dollar, dealers said. Furthermore, gold, which often moves inversely to the dollar, marked a new record high in Asian hours at $1,069.77 a troy ounce.

"Investors have been reacting to Kohn's comments by buying the Australian dollar, gold and other higher-yielding assets against the greenback," said Yuji Saito, head of the foreign exchange group at Societe Generale.

At 0450 GMT, the euro stood at $1.4885 compared to $1.4829 late Tuesday in New York. The Dollar Index, which measures the currency's value against six major units including the euro, was at 75.59, down from 75.95 in New York, after marking a fresh 14-month low at 75.55. The Australian dollar rose to $0.9146, its highest since August 6, 2008. Against the yen, the dollar traded hands at Y88.98 compared to Y89.75. The U.S. currency could fall to Y88.50 later in the day, Societe Generale's Saito said.

The renewed dollar weakness comes as dealers and analysts say central banks around the world are lowering the proportion of their reserves held in the low-yielding greenback.

"The significant weight the 'low rates for a long time' rhetoric is placing on the dollar is being compounded by reserve managers' diversification away from the dollar," said Barclays Capital Research's foreign exchange analyst David Forrester. "Low rates in the US relative to elsewhere are creating a strong incentive for reserve diversification."

Dealers said that unless upcoming U.S. economic data and corporate earnings reports log surprisingly strong results and cause U.S. share markets to rally, pushing up long-term U.S. interest rates, the dollar will likely continue weakening for the rest of the weak.

U.S. September retail and food sales are due later at 1230 GMT. Economists surveyed by Dow Jones Newswires on average expect sales to fall 2.1% on-month, after climbing 2.7% in August. Players will also be watching the third quarter earnings report from J.P. Morgan Chase.

"If the data and earnings reports are basically in line with expectations, the dollar weakness may persist," said Societe Generale's Saito. In that case, the euro could climb to a fresh fourteen-month high at $1.4920, he added.

Interbank Foreign Exchange Rates At 00:50 EDT / 0450 GMT 
                         Latest     Previous   %Chg   Daily   Daily    %Chg 
Dollar Rates                        2150 GMT          High    Low      12/31 
USD/JPY Yen              88.97-00   89.68-72   -0.79  89.89   88.84    -1.80 
EUR/USD Euro             1.4883-88  1.4853-56  +0.20  1.4890  1.4840   +6.47 
GBP/USD Sterling         1.5953-57  1.5912-17  +0.26  1.5965  1.5904   +9.07 
USD/CHF Swiss Franc      1.0193-98  1.0213-18  -0.20  1.0226  1.0194   -4.46 
USD/CAD Canadian Dlr     1.0280-82  1.0325-31  -0.44  1.0325  1.0271  -15.50 
AUD/USD Australian Dlr   0.9138-40  0.9087-90  +0.56  0.9144  0.9055  +29.20 
NZD/USD New Zealand Dlr  0.7411-19  0.7388-91  +0.31  0.7415  0.7364  +27.01 
EUR/JPY Yen              132.41-46  133.23-28  -0.62  133.48  132.25   +4.56

China Exports, Forex Reserves, Lending in Focus

2009-10-14T18:29:00.000-07:00

September exports from China fell at a slowest pace in a year as shipments to EU and US recover to a one-year high. Bank of China reported a sharp rise in lending in the nine months. Foreign exchange reserves in China surge to twice the level of Japan.

8:00 AM Hong Kong – September exports from China fell at a slowest pace in a year as shipments to EU and US recover to a one-year high. Bank of China reported a sharp rise in lending in the nine months. Foreign exchange reserves in China surge to twice the level of Japan.

World markets rallied on the back of improved sentiment and better than expected economic data.

In New York trading, the Dow increased above 10,000 for the first time since October 3 close in 2008. The gain of 1.5% today lifted the index to 10,015.86 and it has rebounded 53% from its low on March 9. The index is still 29% below its high of 14,164.53.

China reported smallest decline in exports in September that sparked a rally in commodities. UK reported record unemployment rate of 7.9% but the quarterly increase in jobless people was the smallest in a year. U.S. reported smaller than expected decline in retail sales and strong earnings from Intel, JP Morgan Chase and CSX.

Customs Bureau in China reported on its Web site that September exports decreased 15.2% from a year ago and fell 20.1% after adjusting for seasonality. Adjusted exports increased 6.3% from August imports increased 8.3%.

Total exports in the month declined to $115.9 billion and imports fell 3.5% to $103 billion. Exports to the US and EU increased to the highest monthly level since November as the worldwide economic momentum increase. Exports to US increased to $21.2 billion

The Bank of China reported that new bank lending in the year to September increased to 8.65 trillion yen ($1.265 trillion), up 149% from a year ago.

Foreign exchange reserves of China increased to $2.273 trillion at the end of September, more than twice that of Japan’s $1.05 trillion.

China Gainers & Losers

The shipping, railroad and port operators increased after the release of exports and imports statistics.

China Railways increased 2.5% to 6.09 yuan and China Shipping Container increased 2.2% to 4.58 yuan. Cosco Pacific increased 1.2% to HK$11.70.

Property developers also increased after central bank in China reported a sharp rise in lending. Gemdale Corp increased 5.8% to 14.67 yuan after it said property sales increased 57% in September.

China Merchants Property Development Co increased 5.2% to 27.3 yuan after it estimated third quarter net to surge as much as three fold to between 463 million yuan and 513 million yuan.

China Hi- Tech Group surged 10% to 7.10 yuan after it estimated earnings to be more than twice compared to a year ago in the first nine months.

Henderson Land Development Co gained 2.2% to HK$54.1 after it sold a duplex apartment that was valued at HK$88,000 per square foot according to the company.

China Merchants Holdings (International) Co increased 2.5% to HK$26.35.

Cnooc Ltd increased 3.5% to HK$11.90 and PetroChina increased 5.2% to HK$9.96.

Asian Markets Review

The Nikkei 225 Index in Tokyo closed lower 16.35 or 0.16% to 10,060.21, Hang Seng index in Hong Kong increased 419.12 or 1.95% to 21,886.48, and CSI 300 index in China higher 28.88 or 0.90% to 3,227.40. ASX 200 index in Australia increased 45.40 or 0.95% to 4,831.10. The FTSE Bursa KL Composite index in Malaysia was higher 13.33 or 1.08% to 1,246.84.

The Kospi Index in South Korea increased 20.16 or 1.24% to close at 1,649.09 SET index in Thailand closed lower 15.20 or 2.04% to 731.47. JSE Index in Indonesia increased 39.73 or 1.61% to 2,511.72. The Sensex index in India increased 204.44 or 1.20% to 17,231.11.

Rupee gains 30 paise to jump to one-year high

2009-10-14T18:26:00.000-07:00

Mumbai, Oct 14 (PTI) The Indian rupee strengthened by 30 paise against the US currency to hit a one-year high of 46.18 a dollar in opening trade today on increased dollar selling by exporters.

At the Interbank Foreign Exchange (Forex) market, the domestic unit appreciated by 30 paise to quote at 46.18 a dollar, the level not seen after September 26, 2008.

The rupee closed 8 paise down at 46.48/49 in the previous session on Monday. The forex market remained closed yesterday on account of Assembly elections in Maharashtra.

Dealers said increased dollar selling by exporters and sustained capital inflows boosted rupee sentiments.

Weakening US dollar, which dipped to 14-month lows against a basket of currencies, also supported the uptrend, they added.

Forex Dealers

2009-10-14T18:21:00.000-07:00

A TO Z MONEY CHANGER

184 Paradise Shopping Centre, Saddar

Ph: 5686968, 5686650

AAKRA MONEY EXCHANGE

Shop No.34-35, Aakra Centre, Saddar

Ph: 7231777, 7231666Fax: 7231999

AL-DUBAI EXCHANGE INTERNATIONAL

Suite#9, Madina City Mall, Abdullah Haroon Road

5650571-3

AL-QAEM EXCHANGE CO.

Motandas Building, M.A.Jinnah Road

Ph: 2427074, 2411736 Fax: 2427074

AL-RAHIM INTERNATIONAL EXCHANGE

3,Al-Rahim Tower, I.I. Chundrigar Road

Ph: 2440548, 2440545, 2440546, 2440547 Fax: 2440

ALI INTERNATIONAL

1st Floor, Ruby Centre, Boulton Market

Ph: 2426841, 2422089 Fax: 2419583

Balgaam International Authorised Money Changer

5,6 Ismail Centre Main Badurabad Chowrangi.

4942198,4933057

BOSTAN INTERNATIONAL

12-A, Block 6, P.E.C.H.S., Shahrah-e-Faisal

Ph: 444993, 444992

CAPITAL MANAGEMENT (PVT) LTD.

610,6th Floor,Kashif Centre, Shahrah-e-Faisal

Ph: 513598, 513568 Fax: 5684171

CHANDA MONEY CHANGERS

1-A,G. Floor,Hari Odhani St.,Opp. Nigar Cinema,Pan Mandi

Ph: 7729626, 7726986, 7734101, 7774417 Fax: 7726

CITY SECURITIES

13-16,Mezzanine Floor, Progressive Plaza,CL-10, Beaumont Road

Ph: 5679595 Fax: 5679599

DELTA INTERNATIONAL (PVT) LTD.

Baghpatti Building, Altaf Hussain Road

Ph: 2427257, 2426720 Fax: 2414554

DOLLARINN

Main University Road Near Mumtaz Manzil

FINEX SECURITIES LTD.

213,Chapal Plaza, Hasrat Mohani Road

Ph: 2431739, 2431738, 2432949

GLAXY INTERNATIONAL

10-11,Ruby Centre, Talpur Road

Ph: 2425148, 2425203, 2425004 Fax: 2420766

H.A. INTERNATIONAL

5-Amber Pride, Shahrah-e-Faisal

Ph: 4529942, 4529941, 4529908, 4529909

Pakistan Open Market Forex Rates

2009-10-14T18:18:00.002-07:00

Currency	Buying	Selling
Australian Dollar	75.5	76.5
Bahrain Dinar	219.6	220.6
Canadian Dollar	80.4	81.4
China Yuan	12	13.5
Danish Krone	16.15	16.35
Euro	123.2	124.2
Hong Kong Dollar	10.55	10.9
Indian Rupee	1.7	1.8
Japanese Yen	0.93	0.94
Kuwaiti Dinar	281	283
Malaysian Ringgit	23	24.5
NewZealand $	59.35	60.35
Norwegians Krone	15	15.3
Omani Riyal	215	218
Qatari Riyal	22.8	23
Saudi Riyal	22.1	22.25
Singapore Dollar	59.3	60.3
Swedish Korona	12.7	13
Swiss Franc	80	81
Thai Bhat	2.4	2.6
U.A.E Dirham	22.6	22.75
UK Pound Sterling	132.3	133.3
US Dollar	83.1	83.4

Bank of England Speculations Set Pound Down

2009-10-14T18:18:00.001-07:00

The British currency is having another dark week losing versus its main rivals and also most of currencies traded in foreign-exchange markets as speculations that the national central bank may extend its asset-purchase program to revive the nation�s economy decreased appeal for the pound. After a report posted today showing that inflation in the U.K. dropped to the lowest level in 5 years, speculations rose that the Bank of England will eventually have to expand its asset-purchase program, since extremely low inflation levels or deflation are a typical aspect of a recession, economic condition which has been punishing Great Britain since last year when the credit crunch struck the world. The Bank of England had affirmed previously that the current stimulus program would not be brought further, but investors are suspicious since economic conditions in the British Isles continue to deteriorate, and measures are to be expected from policy makers in order to revive the nation�s economy. The sentiment towards the British currency is extremely negative, since other opportunities are more attractive for the moment in currency markets according to JR Crooks, Director of Research in Black Swan Capital: Basically, low yields for the foreseeable future, plus greater potential for growth in other parts of the world are a bad combo for the pound. The forecast in the short-term for the pound is likely to remain negative, unless appeal for the U.K.�s currency rises due to a shift in domestic or international financial scenario. EUR/GBP touched 0.9404 as of 11:42 GMT from a previous rate of 0.9331 yesterday. GBP/USD traded near neutrality at 1.5801.

New Zealand Performs Positively on Retail Sales

2009-10-14T18:17:00.000-07:00

This Tuesday, a report posted in New Zealand surprised economists� forecasts as retail sales in the South Pacific country came with better-than-expected growth, adding optimism to the already attractive kiwi, one of the best performing currencies in foreign-exchange markets in 2009. The kiwi climbed today versus several majors like the pound and the yen, and touched a one-year high versus the greenback after retail sales expanded more than doubled of what forecasts suggested, a strong indication that the South Pacific nation is acting efficiently to dodge recession, creating expectations among traders that New Zealand will follow its regional partner, Australia, to start to raise interest rates in the following months. A rise in stocks also provided support for the kiwi and the Aussie to climb further versus the greenback, as their higher-yielding commodity profile is becoming the most attractive bet in currency markets during the second semester of 2009. A combination of a bad sentiment towards the greenback combined with a rally in stocks and positive reports in the South Pacific region is providing support for the New Zealand dollar to become one of the best performing currencies in foreign-exchange markets, extending its record highs virtually every week, and the forecasts indicate that this trend is likely to continue. NZD/USD traded at 0.7374 as of 12:30 GMT from a previous rate of 0.7340 yesterday.

Canadian Dollar Near 1-to-1 With Greenback

2009-10-14T18:16:00.002-07:00

The Canadian dollar benefited from another day of increased risk appetite to gain versus most of the 16 main traded currencies and trade near parity with its U.S. counterpart. Crude oil is providing support for the Canadian dollar to become one of the best trading currencies during the this October as the main Canadian export is rallying, helping the loonie towards parity versus the U.S. dollar, which, according to some analysts, is just a matter of time to happen. USD/CAD traded at 1.0339 as of 19:19 GMT in a rather neutral level in the intraday, but touched 1.0267 hours earlier, the highest level in 14 months.

Brazilian Real Climbs on Growth Forecast

2009-10-14T18:16:00.001-07:00

Both domestic and international economic scenario provided support for the Brazilian currency to climb against the greenback and several other majors, as revised economic growth for the South American nation came with positive figures. Brazil currently has one of the highest interest rates in the world among the main global economies and these levels are likely to climb even further next year if growth in the country will be confirmed as it has been suggested by forecasts, helping the real to reach the highest level versus the pound and the dollar in 2009. USD/BRL traded at 1.7335 as of 22:27 GMT from an opening rate of 1.7380 today.

Dollar Further Down on Interest Rate Expectations

2009-10-14T18:09:00.000-07:00

After Federal Reserve policy makers affirmations suggesting that interest rates will remain low for a long period of time in the United States, the greenback declined to the lowest levels in 2009 versus the euro, and also lost versus most of the main traded currencies. The U.S. currency declined today after several positive news influenced traders towards higher-yielding options after Chinese exports shrank less than forecasts and Intel Corp. posted higher-than-expected sales adding signals that economic conditions are improving globally, helping stocks and commodities to climb further as well. The Canadian dollar also approached closer to parity with its U.S. counterpart as a rise in crude oil rates and optimism in the North American country helped the loonie to get closer to the greenback, and equality can be expected for the next weeks. The Norwegian krone and the South African rand were the best performers versus the greenback this Wednesday due the optimism in foreign-exchange markets. According to the most part of traders, a weaker dollar for the long term is already a consensus. The dovish comments coming from the Federal Reserve killed the last hopes of a hawkish initiative from the U.S. government towards its currency, and currencies like the euro, the yen, and emergent-market options are likely to gain further versus the greenback until the end of the year, at least. USD/CAD traded at 1.0285 as of 11:40 GMT from a previous rate of 1.0337 yesterday. EUR/USD traded at 1.4885 from 1.4837.