Archives: 2008 June

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The Fed chairman, Ben “Helicopter” Bernanke, is in the hot seat now. The markets are once again focusing on the next meeting of the Federal Open Market Committee (FOMC) set for Tuesday and Wednesday of this coming week. The Fed is expected to hold interest rates unchanged at this meeting but is clearly in an uncomfortable position.

Inflation is roaring ahead at serious rates of increase and the Dollar is in danger of a collapse on forex markets, which would seem to indicate a need for the Fed to start increasing interest rates. However, increasing interest rates with a soft economy underway, a badly deteriorating housing market, and businesses starting to lay off workers at higher rates would probably throw the economy into a deep recession that the Fed has been fighting hard to avoid. After all, this is an election year.

Ben Bernanke is an avowed advocate of a more transparent Federal Reserve and reactionary, anxious markets are the byproduct. Without the mysterious Alan Greenspan at the helm, the curtain has been pulled back on the Fed to reveal Bernanke as a clear, direct economist who admits he has no crystal ball. Ben Bernanke is a super active nanny and he is already supporting the elite financial interests that have created this speculative bubble in the first place.

Over one trillion Dollars have already been made available to the banks and the brokerages to protect them from their own excesses and to attempt to forestall a deflationary rigor mortis. If these bail out operations had not been taken, if the financial system itself were transparent, the house of cards would surely collapse on us all and the people would lynch Bernanke and any other rich jerk on Wall Street and in Washington that they could get their hands on. Bernanke must not rest well at night knowing just how fragile the financial system still is.

The forex market give Bernanke and the US government clear notice last week that it will take more than talk and a few speeches to improve the prospects for the US Dollar.

The Euro closed the week at 1.5625 against the beat up Dollar after trading as low as 1.5300 immediately after Bernanke’s remarks that the Fed would be paying more attention to inflation. The Yen strengthened to finish the week at 107.25 after trading as low as 108.55.

Dollar bears are not impressed with what Bernanke and company at the Fed say about supporting a strong Dollar. And they are even less impressed at Secretary of the Treasury Hank Paulson’s frequent announcements that the US supports a strong Dollar policy. Forex traders think of Paulson’s pronouncements as more of a long running bad joke than a serious statement of US Dollar policy. It will take strong vigorous action on the part of the Fed to keep the Dollar from really tanking as 2008, the year from Hell, roars on by.

But what is the Fed to do? US policies over the past many years have lead to a weak economy and rapidly increasing prices. The situation is even worse than stagflation as it appears that the economy’s weakness will turn out to be more than that. Prospects for a rapid recovery in economic conditions are not good and things could become much worse. The “D” word has to be entering at least the back of the minds of businessmen and homeowners.

Forex stands for the foreign exchange market where large banks, central banks, currency speculators, multinational corporations, governments, hedge funds, and other financial markets and institutions buy or sell one currency for another. Buyers seek to buy at the lowest available price and sellers seek to sell at the highest available price.

Forex trading is fascinating, but does bear certain risks. It is quite possible to play the forex money game as a winner, but there is also a risk of losing money, especially if you enter forex trading without a good understanding of how to read forex charts and how to recognize the type of news that moves markets.

Forex is the largest financial market in the world, far larger in daily trading volume than the world’s stock markets. There is always an opportunity for you to make or to lose money. Forex is a 24-hour market, so 24-hour support is a must. When you trade you should be able to contact the firm by Internet and as a backup by phone, email, chat, etc. The forex market is a virtual network of currency dealers connected among themselves by means of high speed communications channels. Forex currency dealers are connected to leading world financial centres, and stay connected around the clock.

Currency trading (forex trading) is not suitable for everyone. It is speculative in nature and a substantial risk of loss exists. You can in fact lose all of your investment. Currency is always traded in pairs. The price of the currency bought as compared to the price of the currency sold is called the exchange rate.

These Internet days forex charts are prepared by software which study the historical and the current data to generate the bigger forex pair picture for the trader. The trader may choose his charting software as per his needs. Many online forex dealers and brokers provide some very good charting services free as part of their account package.

Forex charts are graphs or tables indicating at any given time the conversions among currencies or the exchange. Some charts compare two currencies where as other charts may compare multiple currencies. Forex charts are handy, since not only do the charts provide visual aids, they monitor the foreign currency marketing exchange, or Forex, and provide up to date quotes. The charts keep accurate price records, which project what the results of each year will bring in the currency trade industry.

Forex charts are not something that can simply be glanced at and comprehended within a matter of minutes. The most successful traders will take their time to fully evaluate and act upon the data that is presented. Forex charts are essential in helping the trader find a particular currency’s value in real time. It also spot trends and helps the trader understand lots of complex information quickly. Forex charts are one of the most important things you should learn in order to successfully trade in the Forex market. Without this knowledge, you are very likely doomed to fail in this very liquid active market.