Michael Greenberg reports that Interbank FX was named the fastest growing broker in the Middle East according to Arabcom’s Middle East Online Trading Awards. IBFX is definitely growing rapidly with branches around the world. It has already been awarded as the fastest growing broker in the US. Full Disclosure: IBFX is an advertiser on this … “IBFX – Middle East’s Fastest Growing Broker”
Category: Forex Bits
North Korea – Japan Demands Firm Retaliation
Following the shell attack of North Korea on South Korea, Japan demands that the US, Japan and South Korea retaliate and attack North Korea. Japanese Prime Minister Naoto Kan called US President Barack Obama and South Korea’s Lee Myung-bak, and demanded an immediate response. Around 30,000 US troops are based in South Korea, and the 7th … “North Korea – Japan Demands Firm Retaliation”
Rumor – Kim Jung Il Dead – Can Explain North
Gerry Davies reports that there’s a rumor about the death of North Korean leader Kim Jung Il. This could explain why North Korea attacked South Korea with shells, killing a few people. Kim Jung Il’s heir, Kim Jong-un, might want to show that the North is still strong and that there’s a new guy in town … “Rumor – Kim Jung Il Dead – Can Explain North”
Irish Bailout Doubted as the Government May Collapse
In a dramatic press conference, Irish PM Cowen announced that he would dissolve the parliament right after the budget passes. But can he pass it? The Irish government, led by prime minister Cowen and by finance minister Lenihan, may not be able to pass the 4 year budget. Their coalition partner, the Green Party, demanded … “Irish Bailout Doubted as the Government May Collapse”
Stop Loss – Did You Try Trading Without It?
Andriy put up an interesting post about the famous or infamous stop loss. He asks if you trade without it – something which is usually highly not recommended. He mentions that everybody witnessed his stop loss being taken just to see the market change direction in their favor immediately afterwards, making it very very frustrating. … “Stop Loss – Did You Try Trading Without It?”
NZD/USD Falls as S&P Downgrades New Zealand’s outlook
NZD/USD got a punch from S&P – the credit rating agency downgraded the country’s outlook from stable to negative and sent the kiwi down. NZD/USD rose before the announcement and reached 0.7835, but plunged more than 100 pips after this surprising news. The blame falls on the banking sector,that suffers a “significant weakening in the … “NZD/USD Falls as S&P Downgrades New Zealand’s outlook”
Australia Real Estate Bubble?
There are more and more reports that Australia is about to feel the burst of a housing bubble. An Australian treasury official warned of a bubble (via Forex Live). According to the multi-decade graph, Australian property prices jumped quickly, much faster than OECD countries. Mish writes about how the Australian have “partied out” – comparing … “Australia Real Estate Bubble?”
Ireland Under Internal and External Pressure
The Irish cabinet meets today to discuss the 4 year, 15 billion euro cut in expenses, in order to show that the government is active and serious about cuts, before such plans are imposed by foreigners. After they sign it off today, it will be published on Tuesday. The IMF / EU delegation is “sitting” … “Ireland Under Internal and External Pressure”
Ireland Rushes To Lay Budget Cuts Before IMF Does
The Irish government is fighting to remain independent, after there’s already lots of criticism that Ireland is “under foreign occupation” – the big EU / IMF convoy to Ireland makes many feel that that the government is no longer in control, and that people from the outside tell it what to do. The Irish cabinet will present a four … “Ireland Rushes To Lay Budget Cuts Before IMF Does”
Less Shorts Against the Dollar This Week
The CFTC reports that speculators trim their net positions against the US dollar – around 15 billion from nearly 22 billion last week. Looking deeper, most short positions were moved from the Euro, as the Irish crisis was in the headlines throughout the week. But positions were trimmed in other currencies as well. Read more … “Less Shorts Against the Dollar This Week”