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FBS lowers spreads for EURUSD and USDJPY!!! Dear traders! We are pleased to inform you that since 24th of April spreads for EURUSD and USDJPY on Micro accounts are lowered from 3 to 2 pips. At the same time partner commission on Micro accounts is reduced from 1.5 pips to 1. Spreads for all the currency pairs: http://www.fbs.com/forex-spreads In case you need any assistance our Customer Care is at your service. FBS wishes you Finance,Freedom and Success in trading! (Best mini Forex Broker of 2010 - 2011) Stay connected with FBS because its all about you!

Happy Weekend from entire FBS team!!! FBS wishes you Finance,Freedom and Success in trading! (Best mini Forex Broker of 2010 - 2011) Stay connected with FBS because its all about you!

"USD/CAD down on CPI data"(2012-04-20) USD/CAD down on CPI data Friday, April 20, 2012 - 13:15 The Canadian dollar strengthens against the U.S. dollar due to March inflation figures. CPI grew 0.3% in line with forecasts vs. 0.4% in February. Core CPI increased by 0.4%. The pair USD/CAD trades in the C$0.9922 area on Friday. This week the loonie strengthened 0.8% after the BoC Governor Mark Carney said that perhaps the economy may do without the monetary stimulus due to stronger growth and inflation. The BoC could raise interest rates from a record 1% low sooner than expected. Chart. H4 USD/CAD Comment here http://www.fbs.com/analytics/2012-04-20/17401-usdcad-down-cpi-data

"Gaitame.com: EUR/JPY technical"(2012-04-20) Gaitame.com: EUR/JPY technical Friday, April 20, 2012 - 09:45 Technical analysts at Gaitame.com Research Institute claim that the pair EUR/JPY may have bottomed out in the near-term as it closed yesterday above the bearish candle formed on April 13. In their view, the single currency may be heading to 109.94 (February 27 maximum). The result of such move will be the “head-and-shoulders” pattern with the top of the heat at 111.43 (March 21 maximum). If the pattern is formed, it will provide a bearish reversal signal. Chart. Daily EUR/JPY Comment here http://www.fbs.com/analytics/2012-04-20/17397-gaitamecom-eurjpy-technical

"Aussie's hurt by the external risks"(2012-04-20) Aussie's hurt by the external risks Friday, April 20, 2012 - 08:30 The Australian and New Zealand dollars keep declining: the resurgent concerns on the euro zone’s debt crisis switch the market into a risk-off mode. Aussie lost 0.5% this week, while kiwi fell by 1.5%. According to Nomura specialists, the market is expecting bad news out of Europe. In their view, Aussie can weaken to $1.0150 (low Jan. 9) against the greenback. The IMF and the Worlds bank officials meet in Washington on Friday to discuss Europe’s financial problems. AUD/USD is currently trading in the $1.0321 area. The pair may bounce back to $1.0400 level, the strong resistance lies at $1.0376 (200-day MA), $1.0432 (100-day MA) and $1.0479 (a 38.2% retracement from Dec.2011-Feb. 2012 move). However, if the cross breaks below the $1.0300 support, further decline towards $1.0240 (a 61.8% retracement from Dec.2011-Feb. 2012 move) in the coming sessions will be expected. Chart. Daily AUD/USD Comment here http://www.fbs.com/analytics/2012-04-20/17399-aussies-hurt-external-risks

"What prospects does Spain have?"(2012-04-20) What prospects does Spain have? Friday, April 20, 2012 - 08:30 Analysts at Citigroup expect that Moody’s Investors Service and Standard & Poor’s will downgrade Spain, Italy, Ireland and Portugal within a year. As reasons for such assumption the specialists cite recession and continuous debt crisis. In their view, deficits will beat official forecasts this year and in 2013. Spain had to pay a yield of 5.743% to sell new 10-year bonds on Thursday (up from 5.403% in January). The auction results made the experts say that the nation’s borrowing costs are too high to be sustainable in the long term, though not high enough to trigger a near-term meltdown. Reuters poll showed only a one in four chance that Spain would need an international rescue. It seems unlikely that the increase IMF funding resources by $400 billion (249 billion pounds) which is being currently discussed in order to help bail out Spain (or Italy) will change the overall pessimism about the face of these nations which is only beginning to unfold. The sentiment will become positive in the medium and longer term only if we get improvement of economic fundamentals, reduction of the nations’ finances and secure the banking system. As this would take time (Spanish government is projecting output to shrink by 1.7%, unemployment rate’s approaching 24%) the levels of uncertainty and volatility will remain high. Renaissance Capital: “things will carry on until the government, in two years' time, has either proven that it is pursuing sufficient reforms so that the market is beginning to give it better yields or the population is out on the streets… Spain can survive if they push through the right reforms in the next couple of years.” Source: Photos.com Comment here http://www.fbs.com/analytics/2012-04-20/17395-what-prospects-does-spain-have

"USD/JPY weak ahead of BoJ meeting"(2012-04-20) USD/JPY weak ahead of BoJ meeting Friday, April 20, 2012 - 07:00 The yen keeps weakening against most of its peers on the back of yesterdays BoJ officials’ “dovish” comments and the unexpectedly wide trade deficit. On Wednesday the BOJ Governor Masaaki Shirakawa said in the central bank is “committed” to adding monetary stimulus. Deputy Governor Kiyohiko Nishimura confirmed that the bank is ready to implement additional easing if necessary. The next BOJ meeting will be held on April, 27. Japan posted a trade deficit of 82.6 billion yen in March from a revised surplus of 29.4 billion yen in the previous month and forecasted 223.2 billion yen deficit. Mitsubishi UFJ: Markets are pricing in additional easing by the BOJ. A trade deficit is a negative catalyst for the yen. The USD/JPY trades in the 81.57 area above the daily Ichimoku cloud. The traders see resistance at 81.87 (21-day MA) and at 82.24 (Kijun-sen). A strong impulse may cause a break through 83.30 (high April 2). Support lies at 80.10 (Ichimoku cloud bottom), 79.84, 79.21 and 78.98. The cross strengthened 0.9% this week. Chart. Daily USD/JPY Comment here http://www.fbs.com/analytics/2012-04-20/17390-usdjpy-weak-ahead-boj-meeting

"Economic events to watch today"(2012-04-20) Economic events to watch today Friday, April 20, 2012 - 06:00 Data to watch today: • Europe: April German Ifo Business Climate index is forecasted to decrease to 109.6 from 109.8 in March. In addition, there will be the annual spring meeting of the International Monetary Fund/World Bank (through April 22) and the extended deadline for some Greek foreign-law bond holdouts (to tender their bonds and for second leg of debt-restructuring accord). The pair EUR/USD remains in range between $1.3050 and $1.3200. There are stops below and above these levels. • Britain: March retail sales data is expected to show an appreciable 0.4% growth after suffering a sharp decline in February. Retail sales volumes fell 0.8% in February after rising 0.3% in January and 0.7% in December. “If March retail sales do see significant growth, it will significantly boost the likelihood that overall consumer spending was positive in the first quarter and helped the overall economy return to growth after GDP contracted by 0.3% quarter-on-quarter in the fourth quarter of 2011”, analysts at IHS Global Insight say. The pair GBP/USD is rising for the fifths day in a row. Yesterday sterling reached the maximal level since November 2011 at $1.6078. • Canada: the growth pace of Core CPI may decline from 0.4% in February to 0.3% in March. The nation’s annualized headline inflation rate is expected to drop to 2.0% in March from 2.6% in February. The data will provide more information about inflationary pressures in the country's economy, and could help justify the recent hawkish tone from the Bank of Canada. The pair USD/CAD keeps trading between 0.9845 and 1.0050 within staying in this range since the end of January. Image from http://cold-fusion.ca Comment here http://www.fbs.com/analytics/1970-01-01/17388-economic-events-watch-today

"Danske Bank, MIG Bank: buy GBP/JPY"(2012-04-19) Danske Bank, MIG Bank: buy GBP/JPY Thursday, April 19, 2012 - 14:45 Analysts at Danske Bank recommend buying British pound versus Japanese yen as the British and Japanese central banks have 2 different approaches to monetary policy: while the Bank of Japan keeps trying to weaken the national currency, the latest minutes of the Bank of England suggest that the policymakers are moving away from further easing as UK economy is performing better than expected. In addition, there are many comments from the BOJ official which are weighting yen. One should also mention that Japan posted a trade deficit of 82.6 billion yen in March from a revised surplus of 29.4 billion yen in the previous month and forecasted deficit of 223.2 billion yen. The technical picture for GBP/JPY is also optimistic enough. The pair bounced up from bullish Ichimoku Cloud and the 38.2% Fibonacci retracement from this year’s advance aiming at resistance around 133.30 yen (maximums of April 2, March 27 and 22). Analysts at MIG Bank say that if sterling gets above 133.49 yen, it will be able to follow an uptrend to 160.00 yen. The specialists say that on the downside, below 126.55, GBP/JPY will risk declining to 121.69 and 120 yen (psychological level). Chart. Daily GBP/JPY Comment here http://www.fbs.com/analytics/2012-04-19/17386-danske-bank-mig-bank-buy-gbpjpy

"Standard Chartered: on ECB and the Fed’s rates"(2012-04-19) Standard Chartered: on ECB and the Fed’s rates Thursday, April 19, 2012 - 14:00 The baseline scenario of analysts at Standard Chartered is that the European Central Bank will remain on hold until the first quarter of 2014. The specialists say that if the ECB does decide to cut one more time, it will reduce borrowing costs by 25 bps by the end of June and then remain on hold for the rest of this year and in 2013. As for the United States, the bank expects disappointing data. “Weak income growth in Q1 should result in disappointing consumer spending data in Q2 which will weigh on growth. Real earnings were up just 0.2% m/m in January and February, and the increase seen in total earnings growth has been as a result of an increase in the number of people working and hours worked, rather than actual wages. There is little evidence of consumer spending being fuelled by credit growth. The decline in core durable goods reinforces the idea that the business community is reluctant to make additional capital investment.” Economists think that the Fed to announce further QE by the end of the second quarter. Image from theglobeandmail.com Comment here http://www.fbs.com/analytics/2012-04-19/17385-standard-chartered-ecb-and-feds-rates

"EUR/USD: economic news and comments"(2012-04-19) EUR/USD: economic news and comments Thursday, April 19, 2012 - 13:45 Spain and France conducted bond auctions today. Spain sold 2.54 billion euro in 2- and 10-year bonds slightly exceeding the planned volume. Borrowing costs rose as the nation’s struggling to meet deficit targets. France borrowed 8 billion euro ($10.5 billion). The yields were higher due to the risks associated with approaching French presidential election. The 10-year spread between Spanish, French, Italian bonds and German ones widened as the effects of the LTRO conducted by the ECB is fading. In the US jobless claims also posted the reading higher than expected: 386K vs. the forecast of 370K for the week to April 14. Earnings reports were more optimistic: Bank of America reported first-quarter earnings that beat expectations as well as Travelers and Verizon Communications. EUR/USD keeps trading in range between $1.3030 and $1.3210, within which it settled after the slide from $1.3380/3250 in early April. Analysts at UBS are bearish on the single currency. In their view, support for the pair lies in the $1.2974/54 zone (below these levels bearish momentum will increase), while resistance is situated at $1.3213. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/2012-04-19/17384-eurusd-economic-news-and-comments

"Key options expiring today"(2012-04-19) Key options expiring today Thursday, April 19, 2012 - 12:15 Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (2 p.m. GMT). EUR/USD: $1.3025, $1.3070, $1.3100, $1.3210 (large); EUR/JPY: 106.25; USD/JPY: 81.00, 81.15, 81.25, 81.50; GBP/USD: $1.5960, $1.5990, $1.6000; EUR/GBP: 0.8175, 0.8200; AUD/USD: $1.0300, $1.0415, $1.0435, $1.0450; USD/CHF: 0.9150. Photo Reuters Comment here http://www.fbs.com/analytics/2012-04-19/17382-key-options-expiring-today

"Commerzbank: trading EUR/GBP"(2012-04-19) Commerzbank: trading EUR/GBP Thursday, April 19, 2012 - 08:00 Analysts at Commerzbank are bearish on EUR/GBP in the long term and recommend entering the trade at current levels with a stop at 0.8277 (April high) and targeting at 0.8067 (2010 low). On Wednesday the cross closed the day below 0.8221 (Jan. 9 low), reaching a new 20-month low. According to analysts, the market is viewed as having recently broken down from a 3 month consolidation. Chart. Daily EUR/GBP Comment here http://www.fbs.com/analytics/2012-04-19/17378-commerzbank-trading-eurgbp

"Wells Fargo: bearish outlook on EUR/USD"(2012-04-19) Wells Fargo: bearish outlook on EUR/USD Thursday, April 19, 2012 - 07:45 According to analysts at Wells Fargo, the euro will reach 1.24 against the dollar by early 2013, and continue keep falling to 1.22 from there. In their view, the debt problems are flourishing and economic activity in the region remains weak. Analysts expect the ECB to cut rates to stimulate the economy. Moreover, Wells Fargo analysts note that the technical forecast on EUR/USD also remains bearish (20-day MA lies below the 50-day MA). Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/2012-04-19/17376-wells-fargo-bearish-outlook-eurusd

"Yen down on BOJ comments"(2012-04-19) Yen down on BOJ comments Thursday, April 19, 2012 - 06:30 The yen weakened today against most of its peers on the back of the Bank of Japan’s officials “dovish” comments and the unexpectedly wide trade deficit. On Wednesday the BOJ Governor Masaaki Shirakawa said in the central bank is “committed” to adding monetary stimulus. Deputy Governor Kiyohiko Nishimura confirmed that the bank is ready to implement additional easing if necessary. The next BOJ meeting will be held on April, 27. Japan posted a trade deficit of 82.6 billion yen in March from a revised surplus of 29.4 billion yen in the previous month and forecasted 223.2 billion yen deficit. Mitsubishi UFJ: Markets are pricing in additional easing by the BOJ. A trade deficit is a negative catalyst for the yen. The USD/JPY is strengthening for the third consecutive day and climbed to 81.51 yen, after reaching 81.57 yesterday, the highest level since April 10. The EUR/JPY rose to 106.92 yen today. Chart. Daily EUR/JPY Comment here http://www.fbs.com/analytics/2012-04-19/17374-yen-down-boj-comments

"USD/CHF: technical comments"(2012-04-18) USD/CHF: technical comments Wednesday, April 18, 2012 - 13:45 The currency pair USD/CHF is moving sideways since the beginning of January, creating a triangle. The cross is clamped between the 50- and 100-day MAs. Moreover, on a daily Ichimoku chart Kijun-sen and Tenkan-sen are lying horizontally in the Cloud, also pointing at a flat market. The trend may be breached both on the upside and on the downside. Breakthrough the levels 0.9330 and 0.8930 will confirm the reversal. The pair USD/CHF climbed to 0.9197 today, finding the nearest resistance at 0.9229 (100-day MA), 0.9251 (high Apr.16) and 0.9254 (high Mar.16). Support lies at 0.9120 (21-day MA), 0.9092 (low Apr.13) and 0.9050 (hourly high Apr.3). As for the news, Thomas Jordan was named as permanent president of the Swiss Central Bank today. He became interim SNB chairman on Jan. 9 when his predecessor Philipp Hildebrand resigned after a trading scandal involving his wife. Swiss ZEW economic expectations index released today indicates optimism (2.1 in March vs. 0.0 in Feb.). Chart. Daily USD/CHF Comment here http://www.fbs.com/analytics/1970-01-01/17372-usdchf-technical-comments

"Commerzbank: USD/CAD technical"(2012-04-18) Commerzbank: USD/CAD technical Wednesday, April 18, 2012 - 13:15 The pair USD/CAD is trading almost unchanged from today’s opening price. Analysts at Commerzbank think that “Tuesday’s sharp drop to 0.9864 looks to be impulsive, however, thus increasing the odds of support at 0.9841 (March 1 minimum) giving way within the weeks ahead, provided, of course that 1.0052 (April 11 maximum) continues to cap”. The specialists claim that if USD/CAD closes below 0.9842, it will slide to 0.9786 and then 0.9726. If the pair closes the day above 1.0052, it will be able to start rising to 2011-12 resistance line at 1.0161. Chart. Daily USD/CAD Comment here http://www.fbs.com/analytics/2012-04-18/17371-commerzbank-usdcad-technical

"EUR/CHF: Will the SNB rise the 1.20 floor?"(2012-04-18) EUR/CHF: Will the SNB rise the 1.20 floor? Wednesday, April 18, 2012 - 12:45 Swiss ZEW economic expectations index released today indicates optimism (2.1 in March vs. 0.0 in Feb.). Due to this month’s unexpected improvement some analysts expect franc to strengthen. Moreover, franc may remain “safe haven” from Europe’s debt woes which have resurfaced: demand for Swiss assets remains high even despite the negative 6-month bill yield. HSBC thinks, for example, that all attempts of the SNB to weaken the Swiss franc won’t work. On the previous SNB meetings, Swiss policymakers disappointed the market by not raising the EUR/CHF floor from the current boundary of 1.20, provoking a steep appreciation of the franc to this level. Analysts at UBS claim that if EUR/CHF does test 1.20 again, stronger intervention by the SNB would be welcomed by the investors who remain nervous of a broader decline through the figure. Market expects the floor to be lifted to 1.25 francs at least. EUR/CHF strengthened today to 1.2029 (above the Ichimoku cloud on the H4 chart). Watch the release of Swiss trade balance for March on April 24. Trade surplus increased from 1.5 billion francs in January to 2.68 billion francs in February. Chart. Daily EUR/CHF Comment here http://www.fbs.com/analytics/2012-04-18/17369-eurchf-will-snb-rise-120-floor

"Germany sells 2-years with record low yield"(2012-04-18) Germany sells 2-years with record low yield Wednesday, April 18, 2012 - 10:30 Germany sold today 4.206 billion euro in 2-year bonds out of the 5.0 billion euro target. Average yield was at record low of 0.14% from previous 0.31%. Rabobank: “Investor demand for core paper remains firm with the background threat of crisis tensions ratcheting yet higher underpinning an overriding desire for capital preservation”. Investors were watching the sale with great attention after the unsuccessful launch of a new 10-year German bond last week. In secondary markets German yields remain very low as the nation’s debt is still perceived as a refuge. Photo by Markus Schreiber/AP Comment here http://www.fbs.com/analytics/2012-04-18/17360-germany-sells-2-years-record-low-yield

"The IMF: Australia's in the forefront"(2012-04-18) The IMF: Australia's in the forefront Wednesday, April 18, 2012 - 07:45 According to the International Monetary Fund (IMF), Australia has the strongest economy in the developed world is expected to outperform the other countries for at least the next two years. The IMF also forecasts the Australia's unemployment rate to remain low at 5.2% in both 2012 and 2013. Australia’s economy is expected to grow by 3% this year on the back of easing economic woes in Europe and the U.S. However, the economy may be hurt in case if tensions in the Middle-East lead to new commodity price hikes. "The IMF's confirmation of Australia's strong economic fundamentals - with solid growth and low unemployment - further underscores the importance of returning the budget to surplus, and giving the Reserve Bank maximum flexibility to cut interest rates if it considers that is necessary," the deputy prime minister of Australia Wayne Swan said. The IMF: World Economic outlook Photo by Robyn Mackenzie Comment here http://www.fbs.com/analytics/2012-04-18/17356-imf-australias-forefront

"GBP: watch MPC Meeting Minutes"(2012-04-18) GBP: watch MPC Meeting Minutes Wednesday, April 18, 2012 - 06:45 On Wednesday the Bank of England will publish the minutes of MPC meeting, held on April, 5, when the policymakers agreed to leave its QE program 325 billion pounds. The previous minutes released on March 21 showed two policymakers still think additional QE is required. The March consumer price index (CPI) rose in line with expectations by 3.5% after increasing 3.4% the previous month, reducing concerns on further QE. BNP Paribas: The surprisingly dovish minutes put the GBP in harm’s way. The April minutes may highlight a different tune. Societe Generale: As UK economic data have been a bit less worrying of late, the need for further QE may have lessened. Any low vote in favor of further QE would be GBP-positive versus AUD. Bank of America: The pound needs to climb above $1.5986 (the right shoulder of the so-called head-and-shoulders pattern) to invalidate further weakness. Analysts at BMO Capital believe that if today’s data come out more dovish, the sterling will weaken. In this case analysts recommend selling the cable with a stop at $1.6025 and a target of $1.5650. Today also watch out for important labor market data: the claimant count (forecast 6.6K in March vs. 7.2K in Feb.) and the unemployment rate (expected to remain at 8.4%). Chart. H4 GBP/USD Comment here http://www.fbs.com/analytics/2012-04-18/17352-gbp-watch-mpc-meeting-minutes

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