<?xml version="1.0" encoding="ISO-8859-2"?><rss version="2.0"><channel><title><![CDATA[Forex Information Center]]></title><description><![CDATA[Articles]]></description><link>http://fxonlinetrading.net/</link><copyright><![CDATA[Copyright Forex Information Center]]></copyright><generator>sNews CMS</generator><item><title><![CDATA[What&#039;s Next for the Dollar - May 27 08]]></title><description><![CDATA[  Another week is starting, with US and UK markets close on Monday due to holiday. The activity in the currency markets was very small, with thin liquidity the main event of the day.  
  EUR/USD consolidated within a 50 points range, hitting 1.5790 high and 1.5740 low as traders were enjoying the day away from their screens.  
  Last week we saw a lot of dollar weakness almost daily, what with economic data out of the US being negative and Euro zones data coming out much better than expected. Let's not forget that German IFO was above expectations and that together with hawkish ECB comments about inflation gave euro some strength. Many officials from Europe, including IFO Chief, said that they agree with the recent remarks from ECB and they think that the next move by the bank should be a rate hike. That comment alone gave euro a push towards 1.58. The fact that more comments out of Europe support a rate hike an give a rate cut no chance, that certainly put euro back to its recent positive bias.  
  But let's see what we have this week and how the events of the day will influence the currencies...  
  Today the only important economic release is due later this afternoon from the US and it's the new home sales. Most forecasts expect this number s to come lower for another month and if that happens then we might see further sales in the greenback. The reason why the dollar is weakening against all major currencies is mainly fear for further deterioration in the US economy even after the hawkish comments from the FED officials last week. The fact that most analysts predict that Bernanke and co will keep interest rates unchanged, is giving the dollar some boost but it's not enough to let the currency enjoy its recent strength towards 1.51.  
  Later this week we have more important data out, with durable orders being one and GDP being the other. Both news are important for the greenback and if we see further signs of slowing in the economy, then that would ultimately mean more weakness in the dollar.  
  EUR/USD hit 1.5820 early this morning but the move didn't find any further support and therefore it went all back down to test important support at 1.5725. The Euros  fall was supported by negative economic data out of Germany and some rumors that were going around the wires that major European banks will announce losses due to the subprime mortgage crisis.  
  So, let's see how markets will react this week and how will the data influence the dollar in the coming days...  
  Whatever happens this week, one thing is for sure: with oil again above $133 per barrel and further negative data out of the US, dollar will struggle to gain momentum and therefore we might see EUR/USD back towards recent highs at 1.60...  
      FX Greece       
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  Written by FX Greece  ]]></description><pubDate>Tue, 27 May 2008 20:38:56 +0000</pubDate><link>http://fxonlinetrading.net/news-analysis/whats-next-for-the-dollar-may-27-08/</link><guid>http://fxonlinetrading.net/news-analysis/whats-next-for-the-dollar-may-27-08/</guid></item><item><title><![CDATA[Global Central Bank Comments: Fed, ECB - May 21 08]]></title><description><![CDATA[  Various Federal Reserve officials continue to issue commentary suggesting that they will leave rates steady at their next meeting in June. Indeed, Fed Chairman Bernanke put the pressure on financial institutions to continue raising capital, signaling that they may no longer be receiving help from the central bank.  
  US Fed: Has the Bailout Come to an End?  
  Various Federal Reserve officials continue to issue commentary suggesting that they will leave rates steady at their next meeting in June. Indeed, Fed Chairman Bernanke put the pressure on financial institutions to continue raising capital, signaling that they may no longer be receiving help from the central bank. Furthermore, many officials are confident that the 325bps worth of rate cuts enacted since last September are enough to prevent the economy from sliding into recession.  
    Ben Bernanke, Federal Reserve Chairman    
  &quot;Recent events have also demonstrated the importance of generous capital cushions for protecting against adverse conditions in financial and credit markets&hellip;Importantly, capital raising and balance sheet repair allow for the extension of new credit, which supports economic expansion. I strongly urge financial institutions to remain proactive in their capital-raising efforts. Doing so not only helps the broader economy but positions firms to take advantage of new profit opportunities as conditions in the financial markets and the economy improve.&quot; - May 15, 2008  
    Donald Kohn, Federal Reserve Vice Chairman (Voting Member)    
  &quot;The recent news on inflation has been mixed. Core inflation has moderated a little so far this year. However, we have seen no relief from the pressures of rising prices for energy and food; thus headline inflation has been quite elevated.&quot; - May 20, 20008  
  &quot;With the information now in hand, it is my judgment that monetary policy appears to be appropriately calibrated for now to promote both rising employment and moderating inflation over the medium term.&quot; - May 20, 2008  
    Frederic Mishkin, Federal Reserve Governor (Voting Member)    
   &quot;&hellip;not all asset price bubbles are alike. Asset price bubbles that are associated with credit booms present particular challenges, because their bursting can lead to episodes of financial instability that have damaging effects on the economy&hellip;monetary policy should not try to prick possible asset price bubbles, even when they are of the variety that can contribute to financial instability. Just as doctors take the Hippocratic oath to do no harm, central banks should recognize that trying to prick asset price bubbles using monetary policy is likely to do more harm than good. Instead, monetary policy should react to asset price bubbles by looking to the effects of asset prices on employment and inflation, then adjusting policy as required to achieve maximum sustainable employment and price stability.&quot; - May 16, 2008  
    Charles Evans, Federal Reserve Bank of Chicago President (Alternate Voting Member)    
  &quot;&hellip;even given the financial turmoil, the stance of monetary policy is accommodative and supportive of growth.&quot; - May 14, 2008  
    Janet Yellen, Federal Reserve Bank of San Francisco President (Alternate Voting Member)    
  &quot;I consider the current level of monetary accommodation to be appropriate. That, together with the fiscal package, should be sufficient to promote a gradual step up to moderate economic growth later this year.&quot; - May 14, 2008  
  ECB: Trichet Shows No Signs of Swaying  
  Price stability remains the name of the game in the Euro-zone, as ECB President Trichet continues to tout its importance, especially as energy and food prices skyrocket. Furthermore, with the Federal Reserve - one of the most dovish central banks in the world - signaling that they will not cut rates further, the ECB will face far less pressure to do the same despite instability in the financial markets.  
    Jean-Claude Trichet, European Central Bank President    
  &quot;What we say at this moment (is) be very careful not to embark into...second round effects...Price stability and credibility in price stability in the medium term is the best way to have a high level of sustainable growth and sustainable job creation.&quot; - May 19, 2008  
    Lucas Papademos, European Central Bank Vice President    
  &quot;The ECB is committed to preserving price stability and the prospects for enhanced efficiency and higher longer-term growth in the euro area are improving.&quot; - May 15, 2008  
    Lorenzo Bini Smaghi, European Central Bank Executive Board Member    
  &quot;The rise in headline inflation must remain temporary and limited to food and energy prices, and not spill over other sectors of the economy. From this standpoint, the gravest danger is to index wages to inflation and, in particular, to inflation of external origin. This is a well-known finding in the economic literature and broadly confirmed by experience&hellip;.The second error to avoid is to tackle the effects deriving from a supply shock, like that connected to the increase in the oil price, with policies to stimulate demand.&quot; - May 15, 2008  
    Vitor Constancio, European Central Bank Governing Council Member    
  &quot;It was always clear that there would be a deceleration in European growth in the second half of this year. I think there are no risks of recession in Europe or in Portugal.&quot; - May 16, 2008  
      DailyFX      
    Disclaimer    
    Investment in the currency exchange is highly speculative and should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only. Accordingly we make no warranties or guarantees in respect of the content. The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. Investors should obtain individual financial advice based on their own particular circumstances before making an investment decision on the basis of the recommendations in this website. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. All intellectual property rights are the property of Daily FX. Daily FX and its affiliates, will not be held responsible for the reliability or accuracy of the information available on this site. The content herein is provided in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by Daily FX or its affiliates. The reader agrees not to hold Daily FX or any of its affiliates liable for decisions that are based on information from this website. Daily FX highly recommends that before making a decision, the reader collects several opinions related to the decision and verifies facts from at least several independent sources.    
    
  Written by DailyFX  ]]></description><pubDate>Wed, 21 May 2008 21:26:35 +0000</pubDate><link>http://fxonlinetrading.net/news-analysis/global-central-bank-comments-fed-ecb-may-21-08/</link><guid>http://fxonlinetrading.net/news-analysis/global-central-bank-comments-fed-ecb-may-21-08/</guid></item><item><title><![CDATA[5 Most Important Events for the Forex Market This Week - May 19 08]]></title><description><![CDATA[  The majority of forex market-moving economic indicators will be contained to Wednesday, as the Bank of England's May meeting minutes, Canadian CPI, and the Federal Reserve's April meeting minutes will all be released. However, traders should also keep an eye on Tuesday's German ZEW survey of investor sentiment and Thursday's release of UK retail sales.  
    German ZEW Survey - May 20    
  Sentiment amongst Germany's investors is expected to improve slightly in May, according to the ZEW survey. The figure is scheduled to be released at 05:00 EDT, and this release tends to be a significant market-mover for the EUR/USD pair on a very short-term basis. Given the instability in the financial markets over the survey period along with signs that the European Central Bank will not even consider cutting rates, there is a risk that the ZEW reading could actually be a bit disappointing.  
    Bank of England Meeting Minutes - May 21    
  The release of the minutes from the Bank of England's May meeting - when they left rates unchanged at 5.00 percent - presents major event risk for GBP/USD, as they are likely to reflect much of the hawkish sentiment in the Quarterly Inflation Report, as BOE Governor Mervyn King said &quot;it is likely that, with inflation above 3 percent for several quarters, I will be required to write a number of open letters to the Chancellor over the next year.&quot; However, downside risks for the economy loom large as the same report said, &quot;rising energy and import prices will almost certainly push inflation up further, possibly significantly, in the coming months. As those price increases feed through to household bills, they will lead to a squeeze on real take-home pay which will slow consumer spending and output growth, perhaps sharply. So the balancing act faced by the Monetary Policy Committee is even more challenging than it was in February.&quot; However, It will be important to watch not only where the BOE's concerns lie, but also the vote count. The May rate decision likely had at least one vote from &uuml;ber-dove Blanchflower for a 25bp rate reduction, and the more votes in favor of a more accommodative monetary policy, the more the markets will sell off the British pound.  
    Canadian Consumer Price Index - May 21    
  The release of Canadian CPI data is likely to remind the markets of the Bank of Canada's dovish bias following their 50bp rate cut in April, as the headline CPI reading is expected to hold steady at 1.4 percent, though the Bank of Canada's core CPI measure is anticipated to rise to 1.4 percent from 1.3 percent. Nevertheless, this is still well below the central bank's target, and with many economic indicators out of Canada continuing to deteriorate, the odds remain in favor of another rate cut in June. In fact, the Bank of Canada's monetary policy statement in April noted that &quot;some further monetary stimulus will likely be required to achieve the inflation target over the medium term.&quot; However, there is some potential that the surge in oil over the course of April will buoy the headline figure, but either way, if this inflation data proves to be unexpected, the Canadian dollar is likely to respond immediately.  
    FOMC Meeting Minutes - May 21    
  On Wednesday, the minutes from the Federal Open Market Committee's April 30 meeting will be released at 14:00 EDT. During that meeting, the Fed cut rates by 25bps, though indications that the Federal Reserve would pause at their next meeting led the US dollar to rally the following day. The key thing to watch for in the release of the minutes is the commentary amongst the FOMC members regarding inflation, especially given the rocketing energy and food prices raise. Currently, fed fund futures are betting that the Fed will leave rates unchanged in June, and are only pricing in a 10 percent chance of a 25bp cut. However, if the FOMC members brush off the inflation factors and focus instead on shaky financial market conditions and the significant US economic slowdown, futures may start to become more aggressive in pricing in a June rate cut, which could weigh heavily on the US dollar.  
    UK Retail Sales - May 22    
  Retail spending in the UK is anticipated to slow for the second consecutive month during April and fall 0.5 percent from March to help drag the annual rate of growth down to 4.2 percent. The data would be in line with the British Retail Consortium's (BRC) April survey, which indicated that consumers tightened their purse strings and led same-store sales to tumble 1.5 percent from last year. Furthermore, labor market conditions have started to deteriorate as jobless claims have risen during the past three months, suggesting that consumption growth may have peaked long ago.  
      DailyFX      
    Disclaimer    
    Investment in the currency exchange is highly speculative and should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only. Accordingly we make no warranties or guarantees in respect of the content. The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. Investors should obtain individual financial advice based on their own particular circumstances before making an investment decision on the basis of the recommendations in this website. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. All intellectual property rights are the property of Daily FX. Daily FX and its affiliates, will not be held responsible for the reliability or accuracy of the information available on this site. The content herein is provided in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by Daily FX or its affiliates. The reader agrees not to hold Daily FX or any of its affiliates liable for decisions that are based on information from this website. Daily FX highly recommends that before making a decision, the reader collects several opinions related to the decision and verifies facts from at least several independent sources.    
    
  Written by DailyFX  ]]></description><pubDate>Wed, 21 May 2008 21:24:40 +0000</pubDate><link>http://fxonlinetrading.net/news-analysis/5-most-important-events-for-the-forex-market-this-week-may-19-08/</link><guid>http://fxonlinetrading.net/news-analysis/5-most-important-events-for-the-forex-market-this-week-may-19-08/</guid></item><item><title><![CDATA[Weekly Market Commentary - May 16 08]]></title><description><![CDATA[  Again despite corrective US dollar strength, which saw the Yen drop to 105.45 and Cable to $1.9361, Nymex Crude Oil set a new record high of $126.98 per barrel, taking Gasoline and Heating Oil to new records at $3.2370 and $3.7228 respectively. Note that in Euros a new record at &euro;79.40 per barrel was set and Diesel at the pump cost &pound;5.45 per gallon in Britain. Baltic Dry Freight Rates matched last year's record high, Capesize set a new record at 16,999, and even Dirty Tanker rates to the US Gulf have almost tripled since mid-April. Moves in money market futures were ferocious, Short Sterling dropping by 57 basis points this week alone and Euribor 46. Relative to absolute interest rates this is terrifying stuff, the biggest swings since late January (where prices moved up and then down), and hint that the credit crunch may be back (as US investment banks try to sort out their half-year end in May). Treasuries were dragged to some of their highest yields this year, but retreated late Thursday as we begin to ponder credit spreads. Equity indices rallied again, in a happy little world of their own, although it is still not entirely clear whether they have broken above key chart points. Brazil's Bovespa is at a new record of 72,188 while Egypt's most watched index collapsed from a record high last week, losing 15% of face value.  
  Political and Economic Developments   
  US food prices +0.9% in April, the biggest monthly jump since 1990. UK staples a lot higher too, fuel +18.7%, books +10.0%, utilities +8.3%, food +7.2% with a significant contribution from fresh foods. UK CPI is running at 3.00% and Bank of England governor King will have to write a letter to the chancellor explaining the error of his ways (and as he himself admits, probably several letters). Meanwhile layoffs from the credit crunch are seeing unemployment creep higher. In the US Continuing Weekly Jobless Claims are running at 3060K, the highest since February 2004, while UK Unemployment has risen in small steps for a third consecutive month. Spain's Unemployment has risen for three consecutive quarters to 9.6%, the second highest of the EU's 27 member states. Poland's is the highest at 11.5% (down from 20.6% in 2004).  
  Spanish Q1 GDP was +0.3% Q/Q, the slowest since 1993, and compares badly with +0.8% Q4 2007. German, French and EZ15 GDP not nearly as problematic, running between +2.2% and +2.6% Y/Y. The Eurozone accounts for 22% of world growth, just below that of the US, and a bigger proportion than BRIC countries (Brazil, Russia, India and China). Japan's Q1 GDP a pleasant surprise, +0.8% Q/Q and +3.3% Y/Y. No doubt it will be revised downwards as Q4's was: from +3.5% Y/Y to +2.6%. Estonia's Q1 GDP dropped 1.9% as the Baltic boom fizzles out. With annual inflation running at 12%, house prices down 15%, no wonder confidence has collapsed.  
  Underlying Themes   
  Foreclosure rates are up again, as always the vulnerable suffering first and ultimately most. RealtyTrac of the US saw April's rate up 4% from March and +65% from a year ago. Nationally running at 2%, but much higher in property hot spots, Nevada tops the league and California is the highest at 64,683 properties. Some confused or angry souls have even resorted to torching the house the day before they are evicted. Those renting, sometimes after losing their own home, are booted out again as the landlord's property is repossessed (to sell it tenant-free). Bang goes a whole lot more deposit and relocation money. Q1 UK repossessions totalled 27,530, +9.0% Q/Q and +17% Y/Y, the highest since the 1991 peak of 75,540. New court actions to start the process totalled 38,688 in the last three months. Debtors can be pursued for up to 12 years.  
  What to watch for next week   
  Monday 19th May holidays in Canada and some Asian countries as the Bank of Japan starts a two-day rate-setting meeting (expected unchanged at 0.50%). Tokyo and Nationwide April Department Store Sales, US Leading Indicators and UK May Rightmove House Prices. Tuesday Japan March Tertiary Industry Indicator, April Convenience Store Sales, Bank of Japan Monthly Report, German April Producer Prices, US PPI, May German and Eurozone ZEW Surveys. Wednesday parliamentary elections in Georgia, Germany's May IFO, UK April Public Sector Finances and Money Supply, Minutes of the Bank of England's May MPC meeting and the Fed's April FOMC. Iceland's Central Bank decides on rates Thursday which is a Corpus Christi holiday in several countries. Japan March All Industry Activity Index, April Trade Balance and Supermarket Sales, UK Retail Sales and May CBI Industrial Trends, EZ15 March Industrial New Orders and US House Price Index. Friday Minutes of the Bank of Japan's April meeting, May PMI's for various European countries, UK Q1 GDP, and US April Existing Home Sales. Monday 26th holidays in Bermuda, the UK and US.  
  Positioning and Technical Analysis   
  If we are correct and pressure on credit is building, watch money markets and spreads carefully. Treasuries will, as always, have the attraction of being a safe-haven and yield curves should flatten. FX moves will continue to be dominated by correction and consolidation and are probably best left to the professionals. Likewise many commodities with metals possibly having a small upward bias. Equity indices may continue to squeeze higher while they take advantage of the new version of the &lsquo;carry trade' &ndash; cheap cash supplied by central banks.  
      Mizuho Corporate Bank      
    Disclaimer    
    The information contained in this paper is based on or derived from information generally available to the public from sources believed to be reliable. No representation or warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This paper has been prepared solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading strategy.    
    
  Written by Mizuho Corporate Bank  ]]></description><pubDate>Wed, 21 May 2008 20:53:32 +0000</pubDate><link>http://fxonlinetrading.net/news-analysis/weekly-market-commentary-may-16-08/</link><guid>http://fxonlinetrading.net/news-analysis/weekly-market-commentary-may-16-08/</guid></item><item><title><![CDATA[Market Directions: The Sterling Connection - May 12 08]]></title><description><![CDATA[  England is separated from the continent by the English Channel. It is joined to the United States by a common culture and language but when it comes to economics, 'La Manche'as the French call the English Channel is a tiny stream and the Atlantic remains an ocean. The United Kingdom and the European Monetary Union (EMU) are far more closely tied to each other economically than either is to the United States. Each is the other&rsquo;s biggest trading partner and what happens in one economy is mirrored across the stream.  
  In the past generation England has enacted far more reaching economic reforms than the continental powers. Its economy is more flexible, less protected and more open to outside influences. In that it is much closer to its cousin across the Atlantic, but it remains inextricably tied to Europe. The economic freedom that has let the English economy flourish has also left it open to the dangers that have blown through the world financial system since the credit crisis blew up last August. The Northern Rock failure does not yet have its counterpart on the continent. Has the more open economic system of the British Isles left it more vulnerable, is it simply leading the continent in the economic cycle, or is something else affecting the relative movements of the pound and the euro against the dollar?  
  Sterling peaked against the dollar last November at 2.1158. To the close on Friday it had fallen to 1.9535 or 7.7% from that November peak. This is not quite the low, in late January it dropped to 1.9335, then returned to 2.0300 in mid March before falling again.  
  In contrast the euro peaked only two weeks ago (4/22) at 1.6017 and at close on Friday (1.5475) was just 3.4% beneath the high.  
  Yet the economic statistics for both the European Monetary Union and Great Britain over the past year show a strikingly similar pattern.  
  Nationwide consumer confidence peaked in the UK in September last year at 99; it was at 70 in April. EMU consumer confidence topped out at -1 in May of 2007; it has been at -12 since January of this year.  
  The manufacturing Purchasing Managers Index (PMI) scored 56.1 in Great Britain last August; it had dropped to 51.3 by March of this year. In the EMU manufacturing PMI reached it cycle high 55.8 in June of 2007; it has since fallen to 50.7.  
  Services PMI exhibit a similar pattern. In Britain it peaked at 57.6 in August 2007; by April 2008 it was at 50.4. On the continent PMI for the service industry topped out at 58.3 in July 2007; by April of this year it was at 52.0.  
  GDP has shown nearly identical declines. In the UK it was 3.3 % (annualized) in the third quarter of 2007, 2.8% in the fourth and 2.5% in the first quarter of this year; a 24% slide in three quarters. In the EMU GDP was 2.7% in the third quarter of last year, 2.2% in the fourth and it likely to be 2.0% or lower in the first quarter of 2008; a potential 25% fall over three quarters. The actual result for the EMU will not be released until June 3rd.  
  Because we are measuring both currencies against the usd, the effect of developments in the America is not a factor. In the EMU and in Britain the economies peaked in late summer last year. In Britain that economic apogee was followed just a few months later by the high of its currency against the dollar. But that is not so for the euro which continued to climb against the dollar for eight more months.  
  Two factors have altered the performance of the sterling against the usd. First but not foremost, has been the perceived effect of the credit crisis and housing problems on the UK economy. British housing prices have been falling faster than on the continent and there is greater use of mortgages for home ownership in England. British financial institutions and the economy are more subject to the vagaries of the domestic housing market. In response to this weakness the Bank of England has begun cutting rates.  
  As we can see from the comparative statistics, the UK and EMU economics are largely in sync. The one thing standing in the way of a comparable fall in the euro against the dollar has been the ECB. The susceptibility of the euro to rate cut speculation was especially evident in February. Over the 5th 6th and the 7th the euro dropped 400 points in anticipation of a change in the central bank&rsquo;s rate stance. At the ECB meeting of the 7th the bank did move to a neutral bias. But in the days that followed the ECB made a concerted effort to neutralize the effect of its changed bias. Bank spokesman emphasized its inflation mandate in sound bite after sound bite, even and deliberately alluding to the possibility (which few credit) of a rate hike if inflation was not controlled. The ECB expended its rhetorical energy in squelching the dollar rally against the euro because it would have undermined its anti-inflation campaign.  
  At 3.6% in March and 3.3% (annualized) in April inflation is high in Europe, almost double the ECB target rate of 2.0%. But the economic situation in the EMU and the credit worries worldwide have prevented the ECB from hiking rates. The board of governors is left with only one weapon in their inflation fight: rhetoric. But rhetoric is subject to serious diminishing returns. The more it is used the less effective it will be. The strongly anti-inflation comments in the ECB statement and at Mr. Trichet&rsquo;s press conference on Thursday had little effect on the euro. Constant use has blunted the ECB rhetorical weapon. Sooner or later, and it now appears sooner, the euro will fall in line with the EMU economic performance. The next ECB rate move is still likely to be a rate cut.  
  If the euro were to fall a similar amount from its peak as the sterling has, 7.7%, it would be at 1.4775 or so. That is the goal whether or not the ECB continues its rhetorical support of the euro.   
    FX Solutions     
  IMPORTANT NOTICE: These comments are for information purposes only. Past results are not necessarily indicative of future results. Trading Futures, Options on Futures, and Foreign Exchange involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. The information contained on this email does not constitute a solicitation to buy or sell by FX Solutions,LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law.  
  (Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; downtrend lines in red; horizontal support/resistance lines in yellow; 200-period simple moving average in light blue.)   
    
  Written by FX Solutions  ]]></description><pubDate>Wed, 21 May 2008 20:47:46 +0000</pubDate><link>http://fxonlinetrading.net/news-analysis/market-directions-the-sterling-connection-may-12-08/</link><guid>http://fxonlinetrading.net/news-analysis/market-directions-the-sterling-connection-may-12-08/</guid></item></channel></rss>