Jan 12, 2010

Forex Crunch Video Weekly Outlook – Beware of the Swissy

Forex Crunch Video Weekly Outlook – Beware of the Swissy

Video Weekly Outlook – Beware of the Swissy

Posted: 11 Jan 2010 02:32 PM PST


In my weekly corner on Forex TV, I spoke with Julie Sinha about the upcoming events for this week, technical levels and pairs to watch out for:

An important thing to note that didn’t appear on my weekly outlooks is the warning of an intervention in the Swissy:

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Forex Daily Outlook – January 12th 2010

Posted: 11 Jan 2010 02:00 PM PST


The week started with weakness in the dollar, including Sunday gaps in some currency pairs. Today’s main event is a double-feature trade balance release in the US and Canada. Let’s see what’s up for today:

British figures start the day: BRC Retail Sales Monitor, also known as the mini-retail-sales is expected to rise modestly. The RICS House Price Balance is predicted to rise to 38%, indicating a wide rise in British house prices.

Later in Britain, Trade Balance is predicted to show a smaller deficit. For more on GBP/USD, check out the British Pound forecast.

Australian Home Loans are expected to drop by 1.2% after a similar drop last month. The Aussie tested the important 0.9322 resistance line but bounced off it.

For more on the Australian dollar, check out the AUD/USD forecast.

American Trade Balance is expected to show a deeper deficit -34.9 billion compared to 32.2 last time. This will weigh on the dollar, already under pressure.

Canadian trade balance will be published at the same time, and here the story is different: the surplus is expected to rise. Choppy trading will probably be seen in USD/CAD.

Another figure in Canada is the NHPI (New Housing Price Index) which is expected to rise by 0.3%, exactly like last month. For more on the loonie, check out the Canadian dollar forecast.

That’s it for today. Happy forex trading!

Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.

Forex Advertising in 2010

Posted: 11 Jan 2010 10:33 AM PST


FXCM is due to reduce their advertising budget dramatically. This move will have an impact on the forex industry, but also in ways that aren’t expected.

FXStreet’s CEO, Fransesc Riverola, reported that FXCM will be dramatically cutting its advertising budget for 2010. In a very interesting blog post, he said that the battle will be in M&A – mergers and acquisitions.

In his post he describes FXCM as one of the most active advertisers in the forex industry and looked into the impact of their move:

2009 was a year of explosion of Forex sites. The consequence of the dramatic cuts in the Retail Forex brokers' budget is going to be that many new Forex related sites will be forced to close their doors due to the lack of monetizing of their ad stock.

Well, as an owner of a forex site that has seen great growth in 2009, I don’t see any fall in revenue – on the contrary – revenue is growing. My litmus for advertising costs is Google AdSense. The largest ad network in the world has supplied me with steady CPMs throughout 2009. I won’t be shutting my doors soon…

I think that the move by FXCM (which also advertises here) is significant, but will also have other consequences: other forex brokers will have an opportunity to increase their presence on the web and gain more traders, as FXCM will make some space vacant.

I stick to my statement in the 2010 forex industry predictions, and see further growth in forex trading, in the education of traders and the maturity of brokers. This will eventually have a positive effect on advertising dollars as well.

Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.
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