Forex Crunch 10:1 Leverage Proposal – Last Call to Act |
| 10:1 Leverage Proposal – Last Call to Act Posted: 18 Mar 2010 04:01 AM PDT
The window for submitting comments to the proposed CFTC regulation is closing on March 22nd. This is the last call to act against the proposed 10:1 leverage limitation. With traders, forex brokers, introducing brokers and also congressmen against this proposal, there’s some hope. Here are the details:
As we’ve seen in recent cases, the CFTC does a good job with fighting forex scams. It’s job is to protect traders. Limiting the leverage to 10:1 won’t protect traders – they’ll take their money and open accounts in other countries – some with better protection, and some without it. If you disagree with the CFTC proposal to restrict leverage across the board to 10 to 1 leverage, you may submit your comments to Include "Regulation of Retail Forex" in the subject line of the message and the identification number RIN 3038-AC61 in the body of the message. Also, with the identification number RIN 3038-AC61, you can submit your comments by any of the
All comments received will be posted without change to http://www.cftc.gov, including any personal information provided. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.       |
| Forex Daily Outlook – March 18th 2010 Posted: 17 Mar 2010 03:00 PM PDT
Many American figures are due today, so lots of action is awaiting us. Will the dollar continue to weaken? Let’s see what’s up for today. EUR/USD hasn’t broken the critical 1.3850 level. I still claim that the current rise is temporary before the fall. GBP/USD made it above the critical line of 1.5350, but has a hard time holding to its gains. OK, let’s start the review: After the Bank of Japan introduces more easing measures, it will publish the BOJ Monthly Report which might provide more overview on the Japanese economy. In Europe, the Current Account is expected to rise from 1.9 to 2.9 billion. While this is good news for the Euro, it will probably not take it over the top – over 1.3850. Later in Europe, Trade Balance is predicted to show a smaller surplus – 5.1 billion. For more, read the EUR/USD forecast and Casey Stubbs’ latest analysis. In Switzerland, quarterly industrial production is expected to rise by 5.1%, after a 3.4% rise last time. This will probably boost the Swissy. Later, the Swiss ZEW Economic Expectations figure is expected to stay around last month’s number – 52.5 points. In Britain, Public Sector Net Borrowing is expected to jump from 4.3 to 14.6 billion, weighing on the Pound. Later, CBI Industrial Order Expectations are predicted to edge up from -36 to -33 points, External BOE MPC Member Andrew Sentance will make a public appearance and could also move the Pound. For more, read the GBP/USD forecast. Canadian Foreign Securities Purchases were better than expected in previous months, with over 11 billion last month. This shows confidence in the Canadian economy. They’re now predicted to drop to 7.75 billion. The Canadian dollar is slowly getting closer to parity. For more on the loonie, read the USD/CAD forecast. Many US figures After producer prices fell and erased a significant portion of last month’s rises, consumer prices aren’t expected to pick up. Both CPI and Core CPI are expected to rise by 0.1% after small moves last month. A significant rise is necessary for a rate hike. Unemployment Claims are dropping steadily since they reached a peak of 496K. Another drop, from 462K to 456K is predicted. The Philly Fed Manufacturing Index is now expected to remain unchanged at 17.6. Whatever number is printed, the markets will shake around this event as well. Also in the US, Current Account will probably show a deficit of 120 billion, more than last month’s figure. The CB Leading Index is expected to rise by 0.1%, less than last month’s rise of 0.3%. 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.    |
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