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This article is taken from the Forex Journal (May 2008 issue). The author, Johan Kriek, started his trading career when he was just nineteen years old. After finishing school, Johan studied Computer Engineering and started to work for Forex Trader South Africa as an IT specialist. Within one year, Johan advanced from IT Specialist to lecturing and conducting seminars Gradually, Johan became an FX Specialist and conducted various courses in South Africa for Forex Worldwide Training and Support.

This article is taken from the Forex Journal (May 2009 issue) The author, Doug Schaff, has traded the Forex markets for close to 30 years. His website, fx-strategy.com provides trading tools, information and strategies to assist currency traders. The Swing 62 system is available for free download. Doug Schaff discusses the use of intermediate swing highs and swing lows to develop a shortterm approach to trading the currency markets. Question – How can you use medium-term swing breakouts to

Market Brief Vice foreign minister He Yafei said yesterday that he wasn’t aware that China had asked the issue of a global reserve currency to be on the agenda for next week’s G8 summit. This saw the dollar drop, sending the EURUSD to a high of 1.4201. Despite the consternation at the minister’s misinformation his comments on the need for a more stable and potentially non-sovereign global reserve currency ignited debate on the matter – this isn’t much of a surprise as China is the largest

Headlines Currencies: Zloty rallies and EUR/PLN tests the 4.35 level Fixed Income: Czech PM: budget deficit should reach CZK 150bn Czech Republic The Czech koruna tracked partly the gains of the zloty and forint, which resulted in a successful attack of the EUR/CZK 25.85 support level yesterday. Hence, the pair broke below this important level and headed south reaching the intra-day and sixmonth low at 25.67. Interestingly, at the same time the market could read a comment coming form CNB’s

Previous session overview The dollar made slight gains against the euro and was steady against the yen in Asian trading Thursday, sticking to narrow ranges ahead of key U.S. jobs data later in the global day. The dollar was trading at JPY96.60, just a single tick above JPY96.59 in late North American trading on Wednesday. Earlier in the day, the U.K.'s Daily Telegraph newspaper reported that Russian banks may need to raise USD60 billion in fresh capital to cover an increasing number of bad

ECB firmly on hold, as monetary stimulus works through the economy Economic outlook remains highly uncertain, despite recent signs of improvement Banks pressed to pass on lower interest rates/step up lending following massive 1-year tender ECB to start purchasing covered bonds, but more private asset purchases could still prove necessary Following the drastic easing in monetary conditions since October last year, the ECB governing council has entered a wait-and-see stance. As such, we expect

Currency Markets - Yesterday & Overnight The dollar made slight gains against the euro and was steady against the yen in Asian trading Thursday, sticking to narrow ranges ahead of key U.S. jobs data later in the global day. The dollar was trading at JPY96.60, just a single tick above JPY96.59 in late North American trading on Wednesday. Earlier in the day, the U.K.'s Daily Telegraph newspaper reported that Russian banks may need to raise USD60 billion in fresh capital to cover an

In June, the ADP employment report showed a decline in US private employment by 473 000, significantly higher than the expected -394 000. Looking at the details, 250 000 jobs were lost in the goods-producing sector, of which 146 000 in manufac-turing. In service providing, employment fell by 223 000. In construction, employment dropped by 97 000, the twenty-ninth consecutive decline and in the financial sector, employment declined by 29 000, the nineteenth consecutive monthly decline. The

Total construction spending fell 0.9 percent in May, slightly more than expectations. This month’s report includes revisions dating back to January 2007. The residential component fell 3.5 percent. Nonresidential construction spending rose 0.1 percent due to a spike in power and manufacturing which were both likely driven by the increase in oil prices. Residential Construction Spending Looking for Bottom Construction spending fell 0.9 percent with private residential construction spending

Review Yesterday we received PMI data for June across the EMEA region. Even though the PMI index has ticked up in all EMEA countries, it nonetheless remains – with the exception of Turkey – below the important 50 mark. Read our comment here. PMI was released also in South Africa. As in the other EMEA countries, the South African PMI rose in June but the increase to 37.9, up from 37.3 in May was only moderate remaining far from the critical 50-level. Yesterday, the Latvian Prime Minister Valdis