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GBP/USD ratio: 1.64

Trading Forecast: Bearish

GBPUSD –The ratio of long to short positions in the GBPUSD stands at 1.64 as nearly 62% of traders are long. Yesterday, the ratio was at 1.35 as 57% of open positions were long.

In detail, long positions are 18.0% higher than yesterday and 25.7% stronger since last week. Short positions are 2.5% lower than yesterday and 49.9% weaker since last week. Open interest is 9.3% stronger than yesterday and 44.7% below its monthly average.

The SSI is a contrarian indicator and signals more GBPUSD losses.

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1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. [ForexGen] offers a free trial [Forex demo account] that allows you to test your skills and practice without risking real money.

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Russia's gold and foreign exchange reserves rose by a record $15.4 billion in the latest week thanks to a stronger euro and a rise in commercial banks' foreign currency deposits.
The reserves, the world's third largest, rose to $450.8 billion on December 19 from $435.4 billion in the previous week, central bank data showed, even though the central bank spent an estimated $7 billion to support the rouble.
The reserves have shrunk by a quarter from early August peaks, dented by the central bank's defense of the rouble.

Some of the money is also being used to help Russian companies to refinance their foreign debt.
The rouble has come under pressure as Russia's key export earner, crude oil, falls in price.
Russia has run seven small devaluations of the rouble since oil prices began to slide. The currency is now nearly 16 percent below August's historic peaks. Oil, Russia's main export, has lost 76 percent since July peak.
The euro, which accounts for about 45 percent of Russia's gold and forex reserves, strengthened by about 4 percent against the dollar during the week between December 12 and December 19. A stronger euro boosts the dollar value of reserves.

First Deputy Chairman of the central bank Alexei Ulyukayev said the reserves rose also due to an increase in foreign currency deposits in the central bank.
Many Russian banks took long positions in foreign currencies in anticipation of the rouble's devaluation, contributing to overall capital flight and prompting a backlash from President Dmitry Medvedev and Prime Minister Vladimir Putin.
Russian authorities told commercial banks not to increase their foreign currency positions or risk losing their access to the central bank's liquidity through collateral-free auctions.

Instead, the central bank gave banks a possibility to park their foreign currency in interest-free accounts with the central bank. Ulyukayev said "several billion" were currently held in these accounts.
Commercial banks' accounts in the central bank are matched by corresponding foreign currency positions in the central bank's assets, which count as part of the international reserves.
Russia will also tap its $132.6 billion Reserve Fund, which serves as a safety cushion for the budget and is set to stay at around 10 percent of Russia's GDP, to plug holes in the next year's budget.

The Kremlin's aide on economy Arkady Dvorkovich told Vesti 24 news channel on Thursday Russia will run a deficit of 3-4 percent of gross domestic product (GDP) in 2009 if global economic growth resumes in the second half of the year.
Dvorkovich said that in case the global economy will be contracting throughout 2009, the deficit will not exceed 5 percent of GDP. Russia expects the economy to grow by 2.4 percent in 2009 if the average price of oil stays at $50 per barrel.

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Complete and submit your application online in just a few minutes.

ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.

ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.

Despite an empty economic calendar, the Euro pushed higher against the greenback to reach a high of 1.39898 during the overnight session, and may continue to push higher over the U.S. session as market participants place their bets ahead of the durable goods orders report.

Talking Points

• Japanese Yen: Pares Yesterday’s Loss to Hold at 90.25
• Pound: Holds Tight Range
• Euro: Tests 1.40
• US Dollar: Durable Goods and Personal Spending on Tap

Euro Push Higher Ahead of U.S. Durable Goods Orders

Despite an empty economic calendar, the Euro pushed higher against the greenback to reach a high of 1.39898 during the overnight session, and may continue to push higher over the U.S. session as market participants place their bets ahead of the durable goods orders report. Nonetheless, as trading volume remains thin across the market, the likelihood for a major breakout is minimal as we head into the Christmas holiday.

The Euro pared gains against the Japanese yen to hit an intraday low of 125.98, and may face increased selling pressures over the remainder of the trading session as global equity prices fall lower. Meanwhile, the single currency for Europe continued to strengthen against the British pound, with the pair reaching a high of 0.9506 overnight, and may work its way back towards the record high of 0.9555 over the following week as the interest rate outlook for the Euro remains favorable against Cable.

The lack of event risk left the British pound in a tight range throughout the European session, and continued to weaken against the dollar as the GBPUSD slipped to a low of 1.4685. The pair looks to be forming a descending triangle formation following the sharp decline in October, which favors a bearish outlook for the pair, but seems to be testing the 1.4650 level for short-term support. The GBPUSD is likely to hold its current range over the remainder of the year as investors round-trip their open positions, and is likely to face increased selling pressures next month as market participants expect the Bank of England to lower the benchmark interest rate by 50bp to 1.50% at the January 8th policy meeting.

The U.S. durable good orders report has be a major market mover for the dollar during the past, and the greenback will be on defense as economists expect demands to fall another 3.0% in November, following the 6.2% drop in the previous month. In addition, personal spending, which is one of the two biggest drivers of growth, is anticipated to fall 0.7% for the same period, which continues to reflect a dour outlook for the world’s largest economy. As private-sector spending deteriorates throughout the second half of the year, expectations for additional easing by the Fed is likely to weigh on the reserve currency going forward, but as risk sentiment remains a dominant theme across the financial market, the dollar may continue to benefit from its safe haven status as the flight to quality continues.

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Introducing Brokers may be individuals or institutions who gain their income from the commissions and/or rebates by introducing customers to ForexGen trading.

WHAT are the advantages of being an INTRODUCING BROKERS with ForexGen?

* Providing the most huge income sharing plan
* Providing several ways for our IB's to charge commission.
* ForexGen IB can also charge commission for each lot the traders execute.
* Moreover, ForexGen IB is able to increase the spread for all or certain clients and have ForexGen Investments rebate the difference.

In case the IB does not increase the spread or charge their clients a commission, ForexGen rebate the IB a minor predefined amount for every client's executed lot.
Commission is paid out every month.

Individualized service

[ForexGen] offers our IB's individualized service created according to the individual needs and specified business situation for each IB.
Our Introducing Broker program provides a highly organized program for individualized services and organizations in order to introduce their clients to the online foreign currency exchange market, moreover they will enjoy the benefits of being a part of the ForexGen family.

ForexGen offers 1 pip spread on 10 pairs with high trading techniques that make [ForexGen]
incomparable to any other rival.

British Pound Technical Outlook

At the risk of sounding repetitive, sideways price action in the British Pound/US Dollar leaves our bias exactly unchanged. “The British Pound has found a short-term base against the US Dollar, holding highly-contested support near the psychologically significant 1.4700 mark. Its recent price formation likewise looks vaguely like an inverse head and shoulders pattern, and a break above 1.5500 would signal that a more medium term reversal is likely. Shorter-term, the British Pound looks to challenge previous spike-highs at the psychologically significant 1.5000 mark.”

Euro Technical Outlook

Our outlook for the Euro against the US Dollar effectively remains unchanged. After massive rallies that swiftly took it to multi-month highs, the Euro/US Dollar is likely to continue its correction before any further ascent. As it stands, the pair remains in a very tight short-term trading range, and the absence of any real speculative interest on a holiday-shortened trading week suggests we may see similarly lackluster price action through the very short-term. Our bias remains to the downside, but a hold of near-term support at 1.3825 suggests that the pair could drift higher or trade sideways until further notice.

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ForexGen offers three types of business partnerships.

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* [White Label]
* [Money Manager]

ForexGen Introducing Brokers ,White Label and Money Manager holders are recognized as a strategic business partners. The main focus of our service is to satisfy our partner's needs in order to deal with a qualified service and gain a large income sharing plan.

[ForexGen] provides appropriate services satisfying the needs of all business partner's specified situation and requirements.

Colombia reports GDP growth 3.1% for 3rd quarter as once-torrid economy cools

Colombia's national statistics agency says the pace of growth is slowing, with third quarter GDP growth counted at 3.1 percent above the same period a year earlier.

Monday's report shows a mere 0.7 percent rise in gross domestic product between the second and third quarters of the year.

Quarterly year to year growth rates have slipped from a torrid 8.5 percent in the first quarter of 2007. The rate was down to 4.5 in the first quarter of 2008 and to 3.8 percent in the second quarter.

The government says it expects overall growth of 4 percent this year, down from 8 percent in 2007.

[ForexGen Live Account]

The live/real account is provided to those clients who may have some experience in the online trading.

[Opening an Account Online]

The quickest, easiest and secure way to open a ForexGen trading account is online.
Complete and submit your application online in just a few minutes.

ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.

ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.

Canada offers $3.29 billion bailout to Canadian subsidiaries of US automakers

The federal and Ontario governments will provide the Canadian subsidiaries of the Detroit Three automakers with 4 billion Canadian dollars ($3.29 billion) in emergency loans, the prime minister said Saturday.
The announcement follows a pledge Friday by U.S. President George W. Bush to offer $17.4 billion in emergency loans to General Motors Corp. and Chrysler LLC.
Prime Minister Stephen Harper said Canada's bailout plan, the equivalent of 20 percent of the U.S. aid package, will help keep the plants afloat while the automakers restructure their businesses to retain one the country's most important economic sectors.

"We cannot afford, in the United States or Canada, the catastrophic short-term collapse of the Big Three automakers. The U.S. has signaled that they are not going to allow these companies to fail, and we will do our share of the North American package to see that this doesn't happen either," said Harper speaking at a news conference in Toronto.
Canada's automotive industry represents 14 percent of the country's manufacturing output, 23 percent of manufactured exports, and directly employs more than 150,000 Canadians. The country's largest industry within the manufacturing sector, it has been suffering from its slowest sales in 26 years and dwindling operating cash.
Ontario has agreed to provide 1.3 billion Canadian dollars ($1.07 billion) of the total since the province alone employs about 400,000 auto sector workers -- both directly and indirectly -- and the industry is the mainstay of about 12 Ontario communities.

"In Ontario, we've got thousands of people and their families who rely on the auto industry to be on firm ground, so they can put food on the table and keep a roof over their heads. ... No state or province employs more workers, and we're not going to give that up," said Premier Dalton McGuinty, speaking alongside Harper Saturday.
The Canadian plan will provide General Motors Canada with loans of up to 3 billion Canadian dollars ($2.47 billion) and Chrysler Canada will receive up to 1 billion Canadian dollars ($823 million). The companies will get the money in three installments, with the first portion coming Dec. 29.
"The support announced today sends a significant signal of stability in the face of the economic and credit challenges faced by Canada's auto sector," said Arturo Elias, president of GM Canada.
Chrysler Canada said the funds will ensure it has enough money to continue its restructuring, and thanked the governments for their understanding of the situation and their swift reaction.

Ford Motor Company Canada did not ask for any emergency loans, just a line of credit to draw upon if required. Its parent company in the U.S. says it doesn't need any government cash now but would be badly damaged if one or both of the other U.S. automakers went under.
Harper and McGuinty stressed that the government will not be handing over blank checks, saying that all stakeholders will be expected to make adjustments to reduce structural costs.
"Canadian taxpayers expect their money will be used to restructure and renew the automotive industry in this country," said Harper. "They expect all stakeholders to come to the table and work together towards sustainable long-term solutions to maintain our current production share of the North American market."
Harper's statement was applauded by Canadian Auto Workers President Ken Lewenza, who said the union was willing to work with the automakers to protect jobs.

"This will ensure that the Canadian industry is protected and the numerous investments governments have made over the years will continue to benefit our communities. This is a very sound decision on the part of both governments," said Lewenza, who has been lobbying the government to develop an aid package as soon as possible.
Harper also announced two additional steps the federal government will take to support the overall competitiveness of the auto industry. Automotive suppliers will have greater access to accounts receivable insurance through Export Development Canada to compensate for the reduced availability of credit. A new facility will also be created to support access to credit for consumers to improve the accessibility of car loans and dealer financing.
Ford Canada said in a statement Saturday that it welcomes the government's plan to support the auto credit market because "Canadian consumers deserve access to affordable loans and leases when shopping for a new vehicle."

Similar to the U.S. auto bailout package, the Canadian aid package comes with strings attached, including a request that parts suppliers get the money they are owed, that borrowers accept limits on executive compensation, and that they provide the government with warrants for nonvoting stock.
McGuinty warned that the money will only be delivered after auto companies agree to meet conditions set by the federal and Ontario governments.
"Those conditions include limits on executive compensations. The loans will only stay in place beyond March 31, 2009 if our governments are satisfied there are solid restructuring plans in place and under way," said McGuinty.

[ForexGen Introducing Brokers]

Introducing Brokers may be individuals or institutions who gain their income from the commissions and/or rebates by introducing customers to ForexGen trading.

WHAT are the advantages of being an INTRODUCING BROKERS with ForexGen?

* Providing the most huge income sharing plan
* Providing several ways for our IB's to charge commission.
* ForexGen IB can also charge commission for each lot the traders execute.
* Moreover, ForexGen IB is able to increase the spread for all or certain clients and have ForexGen Investments rebate the difference.

In case the IB does not increase the spread or charge their clients a commission, ForexGen rebate the IB a minor predefined amount for every client's executed lot.
Commission is paid out every month.

Individualized service

[ForexGen] offers our IB's individualized service created according to the individual needs and specified business situation for each IB.
Our Introducing Broker program provides a highly organized program for individualized services and organizations in order to introduce their clients to the online foreign currency exchange market, moreover they will enjoy the benefits of being a part of the ForexGen family.

ForexGen offers 1 pip spread on 10 pairs with high trading techniques that make [ForexGen]
incomparable to any other rival.

Obama names 3 more for his financial team, says regulators have been 'asleep at the switch'

Nearing completion of his Cabinet, Barack Obama plans to choose California Rep. Hilda Solis as his labor secretary, a labor official said Thursday as the president-elect named three veteran regulators to help clean up financial debacles.
Obama blamed much of the nation's economic troubles on government regulators who "dropped the ball," and he called for a return to ethics and tough enforcement.
Obama planned to announce Solis' selection on Friday, along with that of Republican Rep. Ray LaHood of Illinois for transportation secretary. The incoming chief executive is trying to get most of his major appointments out of the way before heading to Hawaii for a holiday vacation, and has held a news conference each day this week to unveil top positions.

He has yet to announce senior intelligence positions or his choice to head the Office of U.S. Trade Representative. And, numerous sub-Cabinet posts remain unfilled.
Solis, a Democratic congresswoman who is the daughter of Mexican and Nicaraguan immigrants, has focused on immigration and environment issues while in the House. The official who disclosed Obama's decision spoke on condition of anonymity because an announcement has not been made yet.
Standing before reporters on Thursday, Obama named Securities and Exchange Commission veteran Mary Schapiro as chairwoman of that agency, former Treasury official Gary Gensler to head the Commodity Futures Trading Commission, and law professor Daniel Tarullo to fill an empty Federal Reserve seat. All three will need to be confirmed by the Senate next year.

In making the announcements, Obama pointed to Wall Street money manager Bernard Madoff, under investigation in an alleged $50 billion fraud, and said the scandal underscored the need for tougher regulators. The scandal "has reminded us yet again of how badly reform is needed," he said.
The president-elect said his new team will help put in place new rules that will help "crack down on the culture of greed and scheming."
"There needs to be a shift in ethics on Wall Street," he said.
As Obama spoke in Chicago, the White House said it is considering "orderly" bankruptcy as a way of dealing with the desperately ailing U.S. auto industry. President George W. Bush, asked about an auto rescue plan during an appearance before a private group, said he hadn't decided what he would do but also spoke of the idea of bankruptcies organized by the federal government as a possible way to go.

Obama did not immediately comment on the idea.
But he wouldn't weigh in on whether he would support a decision by Treasury Secretary Henry Paulson to tap the second $350 billion installment of the $700 billion financial bailout program. Major auto companies are pleading for emergency aid, which could come from that pot.
"I think it's important that the Treasury, the Fed and all of us do whatever's required to make sure that our financial system is stable and secure," Obama said. But he added: "We cannot afford a collapse of our financial system. Main Street can't afford it." He said he would evaluate any Paulson signals about what is necessary.

More broadly, Obama blamed regulators for the financial debacle, saying that they, along with congressional committees, "have been asleep at the switch."
Americans, as they watch their investments tank, are frustrated that "there's not a lot of adult supervision out there," Obama added.
Schapiro, who would be Obama's top Wall Street regulator and investor protector, said that investor trust "is the lifeblood of financial markets." She called for tough enforcement action by incoming regulators.

If confirmed by the Senate:
--Schapiro, who served as an SEC commissioner in Republican and Democratic administrations and is currently the head of the Financial Industry Regulatory Authority, would take over an agency that faces growing criticism for its failure to protect investors and detect trouble brewing on Wall Street.
The SEC stands at what could be one of the most difficult times in its history, buffeted by criticism for failing to detect signs that major Wall Street banks were in trouble before the financial crisis erupted and for lax oversight and enforcement in other areas.

As the scandal involving Madoff continues to stun the financial world, revelations have surfaced that staff at the SEC repeatedly failed over the course of a decade to fully investigate credible allegations against him. SEC Chairman Christopher Cox on Tuesday ordered the agency's inspector general to investigate what went wrong.
--Gensler, a former Treasury official in the Clinton administration, would lead the Commodity Futures Trading Commission, which is an independent agency created by Congress to regulate trading in the commodity futures and option markets.

--Tarullo, a Georgetown law professor who also worked for President Bill Clinton, would fill an open seat on the Federal Reserve board in Washington.
His selection would allow Obama to begin to put his imprint on the Federal Reserve. All the present board members, including chairman Ben Bernanke, were hand picked by Bush. Tarullo would fill one of two vacant seats on the seven-member board. A third seat also will become available.
As a member of the Fed board, Tarullo would have an important voice in deciding policy to help jolt the economy back to life.

[ForexGen Services]

Client Services

• Customer Support
• Trading Support

ForexGen Partnership

ForexGen offers three types of business partnerships.

* [Introducing Broker]
* [White Label]
* [Money Manager]

ForexGen Introducing Brokers ,White Label and Money Manager holders are recognized as a strategic business partners. The main focus of our service is to satisfy our partner's needs in order to deal with a qualified service and gain a large income sharing plan.

[ForexGen] provides appropriate services satisfying the needs of all business partner's specified situation and requirements.

Forex Trading can be learned even by average person today. What is actually the heart of Forex? the answer is the sales or trading of currency trading. It is very much like the regular market practice where the prices change and people get the profits from the price chanes, Forex investment involves in the exchange rate fluctiation as well as the economic of countries that go up and down.

The term “forex”, also known as the foreign exchange is a market for the sale and purchase of all kinds of currencies. It originated in the early 1970’s when floating currencies and free exchange rates were first introduced. At this time, the forex market traders were the ones who set the value of one type of currency against another.
Forex trading has now become big business and certainly in the financial sector this is the biggest market of all in the world. The reason why this market has grown compared to the many other financial markets is because of the rise in the number of traders working online rather than using the more traditional method of trading by using the phone. Because of this increase there are a number of sites which are now offering to people the chance of learning about this through taking free online Forex trading courses.

Thanks to the internet, learning the currency market has made it easier for even a regular person to successfully earn money. Currency representatives, called forex brokers, will most likely provide you with access to the forex market.

[ForexGen.com] is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.

ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.

ForexGen serves both private and institutional clients. We have a strong commitment to maintain a long term relationship with our clients.

Crude hits new four-year low in face of massive OPEC cuts; fears of price spike

ORAN, Algeria (AP) -- Here's how bad things are for OPEC these days: It announced its largest-ever production cut Wednesday and oil prices promptly slumped to $40 a barrel, the lowest level in more than four years.

Ministers of the 13-nation oil cartel were trying to shock moribund markets into life by slashing output 2.2 million barrels a day, more than double two recent production cuts. "I hope we surprised you," said OPEC President Chakib Khelil when asked whether the move would send prices upward.

Instead the markets yawned and there appeared to be more good news for consumers -- at least for the short term. Although declining gasoline prices have begun to edge up after falling from an average of $4.11 a gallon in July to a low of $1.65 on Friday, analysts believe oil's decline could send them even lower.
Benchmark crude prices tumbled to $39.88 per barrel Wednesday, levels not seen since July 2004 on the New York Mercantile Exchange. In just five months, crude has given up all the price gains made over the past four years amid an oil glut and the spreading recession.
Gasoline prices have been plunging right behind crude, providing a bit of economic cover for almost everyone. Yet crude has fallen so far, so fast, there is growing alarm that consumers are being set up for a price shock.
OPEC's latest cut is likely to curtail, at least somewhat, the ongoing decline in gasoline and heating oil prices, said Peter Beutel, an oil analyst at Cameron Hanover.
What OPEC is trying to do, Beutel said, is "slowly dry up a pool of available crude oil and, ultimately, it will mean higher prices."
By Memorial Day, he said, gasoline could be anywhere from 50 cents to $1 a gallon higher than current levels.
OPEC was unable to tamp down soaring oil prices over the summer, which hit a record near $150 a barrel in July, and it has been unable to stop crude on the way down. The problem confronting OPEC is that demand rather than supply has been ruling the market.
The price of oil is closely tied with the buying habits of Americans, which are now hunkering down for the worst recession in at least a generation.
The Cooper Tire and Rubber Co. said Wednesday it will cut 1,300 jobs and close a plant in Georgia.
Newell Rubbermaid Inc. is reducing its salaried work force by as much as 10 percent. The Atlanta-based company slashed its fourth-quarter and full-year profit guidance Wednesday.
In Detroit, General Motors Corp. put the brakes on construction of an engine factory trying to hold on to the cash that it has left.
At the same time, consumers had been changing their traveling habits in the wake of higher fuel prices and environmental concerns. The government reported last week that between November 2007 and October, Americans drove 100 billion fewer miles.

Whether OPEC will be effective in limiting supply, remains to be seen. The cartel has had difficulty in the past addressing overproduction, with members regularly ignoring quotas. That makes investors skeptical about any pledge by the group to honor their commitments.
Khelil, asked whether the latest cut would be enacted, said: "I can tell you it's going to be implemented and implemented very well, because we don't have any other choice."

If past and present commitments are honored by the 11 members under production quotas, OPEC, which produces around 40 percent of the world's oil, would sell less than 25 million barrels a day.
But the cuts are failing to catch up to market realities. Earlier this week, OPEC cut its own demand forecast by about a million barrels a day.
OPEC warned falling prices could jeopardize crude supply as investments are reined in.
There were hopes that Russia would ally itself closer with OPEC, but its announcement that it would cut production appears largely symbolic.
Russian Deputy Premier Igor Sechin and Azeri Energy Minister Natik Aliev announced cutbacks of a total of more than 600,000 barrels a day.
But with Russian production falling, due in part to lagging investment, it was unclear whether some of the cuts enacted or proposed were simply a way of packaging Moscow's inability to keep up present output levels.
A member of the Russian delegation, who asked for anonymity because he was not authorized to comment publicly, said joining OPEC was not in his country's best interest.
Russian membership in OPEC would give the organization more leverage, with control of 50 percent of the world's crude.

Still, individual producers are already pulling crude off the market. There is oil being stored in supertankers at sea to avoid bringing it to market.
"You've got a commodity that people are buying less of because they can't afford to buy more," said Phil Flynn, an analyst at Alaron Trading Corp. "People are fearful. They have a lack of confidence in the economy. They're closing their factories."
As dire as the current economic atmosphere is, the global economy will rebound eventually and supply problems remain the same: oil is getting harder to find every year.
It is not a matter of if oil prices will rocket again, it is a matter of when.
"The guy on the street should not be seduced by what is happening right now and should be thinking about putting money away for a rainy day," said Tom Kloza, publisher and chief oil analyst at Oil Price Information Service. "When this economy rebounds, everyone is going to be talking about the mythical 'they,' ... the ones responsible for uncomfortably high energy prices."

Associated Press writers Angela Charlton, Alfred de Montesquiou and Adam Schreck in Oran contributed to this report.

 

1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex demo account that allows you to test your skills and practice without risking real money.

Technical analysis is being used for the prediction of market movements (that is alterations in currencies prices, volumes and open interests) outgoing from the information obtained for the past. The main instruments of the technical analysis are different kinds of charts, which represent currencies price change during a certain time preceding exchange deals, as well as technical indicators. The latter are being obtained as a result of the mathematical processing of averaged and other characteristics of price movements. The instruments of the technical analysis are universal and applicable to any Forex sector, any currency and any time span.

Technical analysis is easy to compute what is important while the technical services are becoming increasingly sophisticated and reasonably priced. They are available to all the Forex participants independent on their trade plans, strategies applied and the time of position continuance. Under contemporary conditions it is executed by means of computers, which is important if to account that means of the electronic support become more and more sophisticated.

[ForexGen Services]

Client Services

• Customer Support
• Trading Support

ForexGen Partnership

ForexGen offers three types of business partnerships.

* [Introducing Broker]
* [White Label]
* [Money Manager]

ForexGen Introducing Brokers ,White Label and Money Manager holders are recognized as a strategic business partners. The main focus of our service is to satisfy our partner's needs in order to deal with a qualified service and gain a large income sharing plan.

[ForexGen] provides appropriate services satisfying the needs of all business partner's specified situation and requirements.

SAN DIEGO--(BUSINESS WIRE)--Every year the Identity Theft Resource Center (ITRC) shares its thoughts for the upcoming year. The following items are ITRC’s predictions for 2009:

Real Estate-based scams: There are multiple scams that attack the equity in a home or which may be used to establish a whole new home loan. Home Equity or Mortgage Frauds can be found on the Internet, local advertising and even via word of mouth. Some real estate scams include refinancing current loans, adding in unforecasted payments or property to increase the cost of the loan. Your home, while fully paid for, could even be entangled in a second mortgage without your knowledge. Due to the unfortunate turn in the real estate market, some home owners find themselves strapped and falling behind. Opportunistic scam artists might propose relief through a bogus land grant process. The best strategy for a home owner is to talk with your bank or mortgage company before engaging an unknown company.

Credit Card scams: With the current economy, credit will be tight. Thieves may advertise the ability to get credit cards despite a poor credit score or the lack of a Social Security number. There will continue to be more scams that offer to consolidate your credit card debt or to renegotiate your interest rates.

Other scams: Job scams are on the rise as people seek second sources of income. An example would be an offer to act as an account’s receivable clerk for a company outside the U.S. – opening an account, receiving checks, depositing them in the bank and then wiring them to the company. Consumers have also been receiving more “phishing” scam emails due to the merging of financial institutions and stores. These emails ask you to confirm your personal identifying information. Finally, a variety of emails reporting to be from the IRS have been circulating, including tax refund offers, audit information demands and verification of citizenship status. Don’t open attachments or go to another website due to cybercrime.

Professional thieves and targeted attacks: Along with law enforcement and the financial institutions, the ITRC is anticipating an increase in more sophisticated ways to “mine” information, sometimes by organized crime groups. Cybercrime, which includes transporting or selling large amounts of personal information from one group both nationally and internationally, will continue and expand. Part of this trend includes “skimming” (duplicate scanning of credit cards or debit cards), and fake fronts on payment scanners and ATM machines. Peripheral crimes, which use identity theft for funding, will continue and increase. Cybercrime is also tied to malware attacks on individual computers of consumers.
Check Fraud: As it becomes more difficult to get new lines of credit, identity thieves may be drawn more to commit check fraud. These crimes may take the form of stolen checks, using checks thrown into the trash by unknowing consumers or even synthetic checks. Synthetic checks typically have something that links them to a consumer, usually in the name and address section of the check. The checks may be for a closed account, an account that never existed or with a bank the consumer never used.

Breaches: Some companies, public entities and other groups that collect personal identifying information are cutting IT security staff. This may be due to apathy or to budget cuts. Targeted attacks of entities may increase as thieves develop improved techniques for hacking and other forms of illegal data acquisition, especially if fewer security measures are in place.

Other Identity Theft Crimes: ITRC anticipates an increase in the fraudulent use of SSNs for work by people who can not use their own Social Security number or who don’t have one. As law enforcement and the public realize that identity theft is not just a financial crime, the ITRC expects more calls from people regarding criminal and medical identity theft, and from those whose information is negatively impacted due to the actions of an identity thief. Finally, thieves are aware that the Social Security numbers of children, the deceased, the elderly and even critically ill patients are excellent opportunities for long term use of another’s information.

Increase in for-profit consumer products: This market has both positive and negative sides. There are some products in the market that meet the expectations presented and others that don’t. Consumers need to do their homework and understand that it is impossible at this time to completely protect a consumer from identity theft with the products currently available.
On the Positive Side: More collaborative efforts are being established to more deeply define the issues, isolate the problem areas and start policy statements on ways to deal with multi-faceted crimes. The Red Flag Compliance Laws (implementation July 2009) are a set of regulations set by the federal government which will help entities to audit their security programs, strengthen weak areas and set up written policies. However, it will be up to individual entities to enforce those policies.

The ITRC projects an increase in the training of law enforcement regarding identity theft, from local to federal levels. Federal law enforcement will be even more aggressive in their actions against international syndicates especially in cybercrimes and international job scam operations. The IRS has trained and expanded its IRS Taxpayer’s Advocate program to now assist victims of identity theft. The Crime Victims’ Rights Act finally includes white collar (including identity theft) crime victims.

Many states have made significant strides in stopping the use of the Social Security numbers as an identifier. We foresee the federal government addressing similar problems in the identification cards of military members and their dependents as well as those seniors using Medicare.
Conclusion: While there still are major problem areas, there are exciting new programs on the horizon. Additionally, we predict that there will continue to be an increase in the number of state and federal agencies and nonprofits that provide identity theft victim advisors at no charge or victims suffering losses and problems from this crime.

 

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Dollar falls slightly against the euro in trading late Monday night

The dollar dipped against the euro late Monday night in New York. The 15-nation currency traded at $1.3704, up slightly from $1.3665 in late afternoon trading on Monday.

On Friday afternoon, the euro fetched $1.3371.

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-EURUSD just pips from multi-month resistance line; break shifts focus to 1.3631-1.3877 zone

-USDJPY Yen trend is still down

-British Pound rally likely accelerates soon

I wrote last week that “it is likely that a bear rally is underway towards the mid 1.40’s, if not higher. Resistance is not until the downward sloping trendline, which is at 1.36 today and decreases about 23 pips per day.” The EURUSD is closing in on the trendline, which is mere pips above current price. The next level of resistance is from Fibonacci and former congestion at 1.3631. That congestion extends to 1.3789 and former support from the September 11 low is at 1.3877. Staying above 1.3247 keeps the short term trend up but beware that a top of at least a few days likely forms in the 1.3631-1.3877 zone.

On Friday, I wrote that “this morning’s spike to 88.10 may mark a bottom. As I’ve mentioned many times before, spikes (especially in the Yen) tend to mark turns. Bears may consider lightening up here. Still, staying below 93.07 keeps the longer term bear trend intact. The ultimate objective remains below 80 (all-time low).” In viewing the rally from 88.10, I am more inclined to stay bearish. The rally is not clearly impulsive (which would mark a probable trend change), so there is little reason to flip from bearish to bullish. In fact, the rally counts best as a double zigzag correction.
I maintain that a multi-month rally in the GBPUSD is likely underway, possibly to as high as the mid 1.60s. Near term, price appears ready to accelerate off of the short term support line. Risk can be moved up to 1.4812. View more in depth British Pound technical analysis.

I wrote last week that “the USDCHF is on its way to the lower end of the channel, which is at 1.1553 today and increases about 18 pips per day.” Trendline support is at 1.1580 today. Although the rally from March low at .9634 is not the clearest 5 wave rally, the rally is in 5 waves and real life Elliott patterns are not always crystal clear, especially in their early stages. I mention early stages because the USDCHF rally from .9634 could be the first bull leg in a longer term uptrend. Even so, weakness would likely persist for the next several months in a path somewhat like the path I have mapped out.
Weakness is expected to extend below 1.2120. A drop below 1.2120 would potentially complete wave ii of 5 (within the 5 wave rally from .9055) and give way to a strong wave iii rally that exceeds 1.30. A deeper decline, closer to or even below 1.1459 is possible is a larger 4th wave as well. Bears can move risk down to 1.2519.
The AUDUSD is most likely working higher in a c wave that should end above .70. Near term, price ideally remains above Friday’s at .6486 although the trend is up as long as price is above .6287. Trading above .6806 (which is expected) would enable bulls to move risk to .6486.


I wrote last week that “a trendline needs to put to test a few times before giving way to a break.  Staying above .5356 keeps the bullish trend intact.  Major resistance does not begin until .6137/83, which is the November 4 high / 38.2% of .8219-.5186.”  There is no change to the NZDUSD call for strength.  Rallying above .5580 would permit bulls to move risk to .5415.   
Jamie Saettele writes Forex Technicals: The Day Ahead, Monday-Thursday (published at 6 pm EST), Daily Technicals every weekday morning (9 am EST), COT analysis (published Monday mornings), and analysis of currency crosses throughout the week.  He is also the author of Sentiment in the Forex Market.

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Research and Markets: Snapshots U.S. Facial Moisturisers 2008: 2007 Year-End Market Size Data, with 2008 Estimates


Snapdata's Snapshots US Facial Moisturisers 2008 provides 2007 year-end market size data, with 2008 estimates, 5 years of historical data and five-year forecasts. The Snapshots report gives an instant overview of the US facial moisturiser market and covers facial moisturisers, facial cleansers, facial anti-ageing creams and acne treatments. Market value is based on retail sales. The data is supplied in both graphical and tabular format for ease of interpretation and analysis. The Snapshots US Facial Moisturisers 2008 forms part of the Cosmetics & Toiletries industry coverage.
Snapshots Report Overview:

The Executive Summary within a Snapshots report outlines the main findings of the report (market size, market shares and market forecasts)

Market size is the measure of the total value or volume of a particular product sold in a particular length of time. In our case it is the total amount of the market covered by a title in the last whole year, for example, in UK Beer 2005, all the beer consumed in the UK in 2004. The aim of the report is to tell how much of the product was consumed in the country discussed by value and by volume.

Market Segmentation is a segmentation of the market by key product categories, ideally by value and volume. For example: the yoghurt market can be segmented into: drinking yoghurt, flavoured yoghurt and natural yoghurt.

Market Share is the share of each competitor in the market place and can be expressed in value or volume terms.

Market Share by Volume - each competitor's share of the total Market Volume Market Share by Value - each competitor's share of the total Market Value

This measure of the market relates to the different distribution channels to market for each product. The distribution can include the following channels
Socio-Economic data

The key socio-economic indicators in each report will be:

* Size of population GDP - Gross Domestic Product Inflation rate Exchange rate

Forecasts

All market forecasts are based on statistical forecasting techniques based on historic performance (linear extrapolation of the market size, based on the five-year historical growth). These statistical tools are supplemented with qualitative parameters such as: industry expectation/opinion. Socio-economic drivers, new product development, technological advances, expected levels of market saturation etc.

Further Sources

In this section we include important websites such as trade bodies or trade associations relevant to the market. All sources whose data we have used in the report and who have given us permission to use their data are represented here.

All secondary sources in local and global languages are scoured, from government statistics to trade magazines. As the Snapdata model is unique as a product and non-competitive to specialist publishers, the company has also been able to develop strong relationships with companies such as Gartner and ACNielsen, who provide secondary data points to cross check research.

Snapdata aims for 3 to 4 data points for each table, and no secondary data point will be used without written permission from the original source, which not only verifies the quality, but also provides the integrity to use the data. Once all secondary sources have been exhausted, the language specialist researcher will then complete semi-structured telephone interviews with the major companies in the industries to cross check and verify all data available.

Benefits of the Snapshots Reports

The Snapdata product range is designed to save time for clients by providing an industry data overview, market size, shares and forecasts; verified with full sourcing.

Easy to search, quick to access, and clear and concise to use: Snapdata reports can save 40% of resources in those early stages of a project. Sometimes just a report from the Snapshots Series is all that is required for an internal client's first request. But when the project develops, the reports also help your internal research team prepare a fuller picture for their end-users utilizing the further sources provided in each report for industry drivers and analytical information, enabling them to provide a more detailed document based on solid figures but tailored to the end-users' requests.

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With deflation still a possibility, credit markets have a hard time loosening up

Investors know the future will bring either inflation or deflation, but they can't decide which. So they're erring on the side of a worst case scenario, keeping the credit markets in a stranglehold and Treasury notes extremely popular.

Despite a moderate rise in the stock market Friday, the yield on the two-year Treasury note hit another record low, falling to about 0.76 percent for the first time since the note has been issued.

Adding fuel to the argument that the economy is headed for deflation, the Labor Department said its Producer Price Index, which tracks costs of goods before they reach consumers, fell 2.2 percent last month -- more than anticipated -- as gasoline and other energy prices retreated.

Government debt becomes more attractive in weak, deflationary economies not only because the assets are safe, but also because the returns are in fixed dollar amounts -- so when deflation occurs, they actually rise in value. This reduces the incentive, to some extent, to buy riskier, higher-yielding assets like junk bonds.

"The main driver of the credit markets, at one level, is inflation versus deflation," said Jack A. Ablin, chief investment officer at Harris Private Bank. When there's inflation, Treasurys become less attractive and investors look for assets that will offer higher returns.

The outlook for prices is murky right now, keeping investor demand for safety high and hurtling rates on riskier debt higher and higher. The government's huge issuances of debt should cause inflation, but a steep, prolonged recession would be deflationary. It's a quandary that's paralyzing investors.

"Are we really going to get significant deflation? If we are, it has one set of implications, and if we're not, it has an opposite set of conclusions. It's kind of a binary environment right now," said Jay Mueller, portfolio manager, Wells Fargo Advantage Funds.

"If we have severe deflation, Treasurys are going to continue to be the preferred place to be," Mueller said. However, "it's hard to make these determinations because we don't have much track record to go on."

The last sustained period of deflation in the United States was during the Great Depression. The benchmark 10-year Treasury note's yield, at 2.58 percent on Friday, isn't that far off the yield on similar debt in the 1930s -- a little over 2.1 percent, according to Global Financial Data in Los Angeles. (Later, in 1945, yields fell as low as 1.55 percent.)

But the 10-year note's yield could have a lot farther to fall if Japan is any indication.

After Japan's stock and real estate bubble burst in the late 1980s, the nation went into a very long slump, and yields on the Japanese government's 10-year note in 2003 fell as low as 0.46 percent, according to Mueller.

"Japan has had 10 years of deflation at this point. I doubt that it's in the cards for us, but it does show how low yields can go in a deflationary environment," Mueller said.

Yields on longer-dated Treasurys continued to hover near their recent historic lows. The 10-year note rose 8/32 to 110 6/32 and its yield fell to 2.58 percent from 2.66 percent. The 30-year bond rose 16/32 to 128 1/32 and its yield fell to 3.05 percent from 3.08 percent.

The three-month Treasury bill's yield was 0.04 percent, up from 0.01 percent but still indicating high levels of demand for safe, short-term assets. The discount rate was 0.02 percent.

As investors swarm to government debt, they are also starting to snap up mortgage-backed securities -- which is helping actual mortgage rates fall -- and some are buying high-grade corporate debt again.

But speculative grade, or junk, bonds are seeing demand tumble even further.

"One of the things I'm a little worried about with high yields is it's a self-sustaining situation," Ablin said. A company's ability to get new funding is reliant on their rating, and their rating is reliant on their financial health. There's a worry, Ablin said, that the junk bond market "collapses on itself."

Over the past month, bonds for investment-grade companies have gained more than 4 percent, according to the iShares Investment Grade Bond Fund, but junk bonds have fallen more than 11 percent, according to the Lehman High Yield Bond Exchange Traded Fund.

And when prices fall, rates rise, making it more expensive for the companies to issue debt. Standard & Poor's said Friday that speculative-grade rates, as compared to Treasury rates, broke through records Thursday, surpassing 17 percentage points.

About half of all rated companies have a junk rating.

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Uncertainty over a bailout of U.S. automakers, and declining U.S. retail sales added new headaches for the world's financial stewards, already overwhelmed by recession, tight credit markets and a debilitated White House.

Meanwhile Wall Street was coping with the shock waves of a suspected $50 billion fraud that may rank as one of the biggest ever, Japan weighed a currency intervention, OPEC debated production cuts and Europe agreed to a 200 billion euro ($268 billion) stimulus package.

"This is ugly and getting uglier," Peter Kenny, managing director at Knight Equity Management in New Jersey, said on Friday.

"Pick your poison. Do you want to talk about autos, or some of the macroeconomic data we've had coming out or do you want to talk about Madoff? If there's something positive here, share it with me. I see nothing here that is going to give anyone any reason to buy the market."

Bernard Madoff, a quiet force on Wall Street for decades, was arrested and charged on Thursday. The former chairman of the Nasdaq Stock Market also ran a hedge fund that U.S. prosecutors said racked up $50 billion of fraudulent losses.

The U.S. Senate late on Thursday failed to enact a $14 billion auto bailout previously approved by the House of Representatives.

That prompted concerns that one of the last bastions of the U.S. manufacturing base could be forced into bankruptcy or collapse, jeopardizing millions of jobs and having repercussions worldwide.

General Motors Corp and Chrysler LLC had sought billions of dollars in immediate aid to avert collapse, while Ford Motor Co wanted a hefty line of credit.

'BAD CHRISTMAS'

"It's going to be a very, very bad Christmas for a lot of people," said U.S. Senate Majority Leader Harry Reid, a Democrat who favored the bailout. "I dread looking at Wall Street tomorrow. It's not going to be a pretty sight."

The Bush administration warned that the U.S. economy could not withstand such a collapse and said it might be willing to provide emergency funding to rescue the industry, possibly from the $700 billion financial bailout fund known as TARP.

That prevented a precipitous drop on Wall Street. The Dow was down 0.9 percent and the S&P 500 was off 0.7 percent.

Tokyo's Nikkei average fell 5.6 percent after Japan expanded a fiscal stimulus plan and bolstered a war chest for bank rescues to $131 billion. (nT91372)

But Tokyo kept markets guessing on whether it would intervene to stop a surging yen from pushing the economy deeper into recession.

European stocks were down 2.6 percent after European Union leaders sealed the 200 billion-euro stimulus package, which had exposed deep differences between Britain and Germany.

The euro zone clearly needs a boost -- data on Friday showed industrial output dived 5.3 percent year-on-year in October.

The United States was then hit by additional troubling indicators when retail sales fell for the fifth straight month and producer prices dipped 2.2 percent, raising the specter of deflation.

Even China has been unable to avoid damage.

Beijing launched a 4 trillion-yuan ($586 billion) stimulus plan on November 9 and followed up on Wednesday with a pledge after a strategy meeting to ramp up public spending and cut taxes.

Senior officials were confident of hitting 8 percent growth in 2009 -- the rate deemed necessary to create enough jobs for the millions joining the workforce each year.

Others disagree. The World Bank forecasts 7.5 percent growth next year; Goldman Sachs expects a rate of just 6.0 percent.

The good news for consumers was falling oil and commodities prices.

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Price pressures in the U.K. are expected to weaken further as economists forecast the producer price index to fall to 5.6% from 6.8% in October.

Trading the News: U.K. Producer Price Index Output

What’s Expected
Time of release: 12/08/2008 09:30 GMT, 04:30 EST
Primary Pair Impact : GBPUSD
Expected: 5.6%
Previous: 6.8%

Impact the U.K. PPI Output has had on GBPUSD after the last 3 releases







October 2008 U.K. Producer Price Index Output

The U.K.’s producer price index fell at a record pace in October, which lowered the annual rate of inflation to 6.8% from 8.5% in September. The breakdown of the report showed that petrol prices fell 5.6% from the previous month, while core prices slipped 0.5%. The data suggests that firms will continued to cut prices as Europe’s second largest economy heads into its worst recession since 1991, and has certainly raised the risks for deflation as the Bank of England expects inflation to fall below the 2% target. Falling commodity prices paired with deteriorating fundamentals led the BoE to aggressively lower borrowing costs throughout the second half of the year, and may continue to ease policy next year to carry out their dual mandate to ensure price stability while fostering economic growth.

September 2008 U.K. Producer Price Index Output

Factory-gate prices in the U.K. dropped for the second consecutive month in September as economic activity weakened throughout the second half of the year. The producer price index slipped to 8.5% from a revised reading of 9.1% in August on the back of falling commodity prices, and should allow the Bank of England to lower borrowing costs further as the economy heads into a recession. The MPC voted unanimously cut the benchmark interest rate by 50bp in a coordinated effort to restore confidence in the financial market, and lowered the rate to 4.50% from 5.00%. Easing price pressures paired with fears of a significant economic downturn has already stoked expectations that the BoE will continue to cut borrowing costs in the near-term, which could weigh on the British pound going forward.

August 2008 U.K. Producer Price Index Output

U.K. producer prices unexpectedly declined for the first time in nearly a year due to a significant pullback in commodity prices. The PPI slipped to 9.7% from 10.2% in the previous month, which suggests that inflation may have peaked during July. Easing prices pressures will certainly allow the Bank of England to shift their focus to growth and push inflationary concerns to the backburner, which leaves the door open for a potential rate over the coming months as growth prospects for the U.K. deteriorate. Meanwhile, the MPC continued to hold a neutral policy stance as they voted to hold the interest rate at 5.00% during the September 4th meeting, while Chancellor Alistair Darling explicitly stated that Great Britain may face the worst economic downturn since the 1940’s.

How To Trade This Event Risk

Price pressures in the U.K. are expected to weaken further as economists forecast the producer price index to fall to 5.6% from 6.8% in October. The remarkable slowdown in the economy paired with falling commodity prices allowed firms to aggressively lower output prices throughout the second half of the year, and may continue to cut prices over the coming months as the economy heads into its worst recession since 1991. Europe’s second largest economy contracted 0.5% in the third quarter as private-sector consumption fell for two consecutive quarter, and was followed by a 2.4% drop in business investments. In addition, retail spending contracted for the second straight months in October, which suggests that firms will continue to lower prices in order to stay afloat during the considerable downturn in the economy. Meanwhile, the Bank of England continued to highlight the risks for deflation as he saw a ‘substantial risk’ for inflation to fall below the 2% target, which could lead the central bank to lower borrowing costs even further as policymakers carry out their dual mandate to ensure price stability while fostering economic growth. Moreover, Credit Suisse overnight index swaps are showing that investors expect the BoE to lower rates further over the next 12 months, which could stoke increased selling pressures for the British pound over the near-term.

As the Bank of England continues to hold a dovish outlook, we would need to see a considerable spike in inflation to set the stage for a long pound-dollar trade. As a result, a PPI reading above 6.8% would favor a bullish outlook for the British pound, and we will look for a green, five-minute candle following the release to confirm entry on two lots of GBPUSD. We will place our initial stop at the nearby swing low (or reasonable distance), and this risk will determine our first target. Our second target will be based purely on our discretion, and once the first lot reaches its target, we will move the stop on the second lot to breakeven in order to preserve our profits.

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China releases plans to raise fuel tax rates in exchange for eliminating fees

China's Cabinet on Friday released details of a fuel tax reform that would raise taxes for gasoline and diesel while eliminating other fees for drivers.

The plan, scheduled to take effect Jan. 1, would raise the tax on gasoline to 1 yuan (14 cents) per liter (0.26 gallon) from the current 0.2 yuan (3 cents). The tax on diesel would rise from 0.1 yuan (2 cents) per liter to 0.8 yuan (11 cents).


Despite the increase, existing fuel prices would not rise, the State Council, China's Cabinet, said in a notice, presumably because any increase would be absorbed by falling costs resulting from the plunging price of crude oil.

Under the plan, six categories of fees levied on drivers would be eliminated, including an annual road tax computed by the number of seats per car and a surcharge on passengers and freight carried by boats.

The announcement said the plan could come under further review depending on the response from the public.

China's government dictates the cost of gasoline, and pump prices have not fallen in recent weeks despite the global price of crude tumbling 70 percent since July to a near four-year low.

China has long sought to reform the price structure for energy resources such as gasoline to more clearly reflect supply and demand. The tax increases could therefore herald a loosening of government price controls instituted originally to keep fuel affordable for farmers and low-income citizens.

The tax increases also mark an attempt to promote energy saving and reduce emissions, part of an overall attempt to boost efficiency in the economy.

With oil prices declining, the present time provides an opportunity to raise taxes without prompting major complaints.

The announcement said the higher tax revenues would be used in part to maintain and manage roads and waterways and to help compensate local governments for lost income from eliminated tolls and fees.

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At first, people who are interested in forex trading would feel that they have too much to learn before they can even have profit in this business. But even if it really is not an easy business, it is not that difficult to understand. It just takes a little time and more patience from the trader and in time, you will learn to be a master of this forex trading
The forex trading is the largest trade market in the world and it is primarily about the foreign exchange and the way that the currencies respond to the different evens in and out of a certain country. What a trader must do is to learn to understand the forex trading information that would affect the currencies.

An ideal situation for a trader is to buy the currencies that have lower price and it will be sold to other at a higher price. This is how profit will be gained in forex trading. However, the currencies change as time goes by. Every day, the currencies in the countries change and the trader should know when he must sell and when he must buy currencies.

The traders negotiate with other traders which then causes the changes in the value of each currency. A trader must be very knowledgeable on how the things work inside a forex trading and in the outside. He must have a strategy to follow and it would be his way to gain profit. One can also try to do what other successful traders have done.
But once he got the strategy that works for him, he must not change in what he is currently using. What a trader must do in the market is to use the strategy and use it well so that he can master how to use it and it can lead him to getting more profits through it.
With your own ways in the forex trading, you will have the profit when you have the working edge over others. Real information is what is needed by the trader so that he will be able make use of them in his decisions. You will need more information to decide and predict how the market would go for the day.

The forex market trading may make you lose during some time but you have to study what you have done wrong so that in the next trade, you will be more knowledgeable and you will know how to deal with the situation. This is how you will gain your experience and you will have the necessary things that are needed in your business.

A trader may have a choice to read books about forex trading market, others rely on the Internet articles and e-books but even if the authors are well versed in the business, you cannot simply do what they have done unless you have a good grasp of the way that the market really works. You need to have the right experience so that you will know what to do and how to predict good to earn the right amount of profit.

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The promise of "Easy Money" captures the interest of many beginning traders. You can find offers all over the Internet claiming, "risk free trading", "low investment", and "high returns". While there is some truth in this statement you will find that they are over simplified and the reality of FOREX trading is a little more complicated.

It is very tempting to dive right in and start trading as soon as you open your FOREX account. Doing this will most likely lead you to make the two most common mistakes of beginning investors. These are trading based on emotions and trading without a philosophy or strategy. While watching the movements of a currency pair you may feel that you are letting an opportunity pass by if you don't get involved.

So you buy only to see the price start moving against you, in a panic you sell at a loss, to then watch the price recover.
You must have a rational strategy and not base any decisions on emotion. Undisciplined trading like the scenario described above will only lead to losing money.
You have to be well educated in market movements to make rational trading decisions. You must be able to read technical studies and analyses and use that information to plot out entry and exit points. You must be able to use the various types of trade orders available to maximize your profits and minimize your losses.
The first thing you have to do is to understand the market and the forces that move it and affect it. Learn who trades on the FOREX market and why do they do it. Who are the successful traders and what do they do that makes them successful. By doing this you will be able to identify the successful trading strategies and use them to help you develop a strategy of your own.

Banks, Corporations, Governments, investment funds, and traders are the major groups of investors in the foreign exchange market. While they all have their own objectives four of these five all have one thing in common. They have external controls; these are rules and guidelines that control the trades that they make and the basis that they can be held accountable to. The exception to that are the individual traders, they are accountable only to themselves.
A trader that enters the market with out rules and guidelines is setting himself or herself up to lose money. The "big boys" and the well educated investors all approach trading with strategies, if you want to play on the same field with them and be successful you will have to play by the same rules. You absolutely must have a trading strategy, and you will need to be disciplined and follow it.

Money management is a critical part of every trading strategy. Along with knowing which currencies to trade and how to recognize entry and exit points as successful trader must has to manage his available resources and make money management part of his trading plan. Available capital, margin and profits and losses must all be considered as part of strategy development.




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