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"Switzerland: GDP forecast’s reducedreenback"(2011-09-20) Switzerland’s government lowered its economic-growth forecasts for 2011 and 2012 from 2.1% and 1.5% to 1.9% and 0.9% respectively. Export growth estimate was trimmed from 4.6% this year and 3% the next to 3.2% and 0.7% respectively. The reason for this downward revision is the fact Swiss franc’s rate is still excessively strong even after the Swiss National Bank has set the ceiling for the nation currency’s rate versus euro. According to the data released today, the nation’s exports fell in August by 7%. The nation’s authorities say that isolated quarters of economic contraction are possible, though deep recession seems to be unlikely. Chart. Daily EUR/CHF Comment here http://www.fbs.com/analytics/news_markets/view/8708

"MIG Bank: bearish view on USD/CHF"(2011-09-20) The greenback rose versus Swiss franc from last week’s minimum at 0.8645 hit on September 15 but its advance was limited by the resistance around 0.8875. Technical analysts at MIG Bank think that USD/CHF may return down to 0.8645 and then drop to 0.8400 and 0.8250. In their view, the pair remains vulnerable to the potential declines as long as it’s trading below 0.8929. Chart. Daily USD/CHF Comment here http://www.fbs.com/analytics/news_markets/view/8706

"Barclays Capital: survey on euro’s prospects"(2011-09-20) Analysts at Barclays Capital conducted survey among more than 500 institutional investors on the prospects of the single currency. The majority of respondents (56%) believe that the European Central Bank will undertake large-scale buying of sovereign debt from troubled countries like Italy and Spain. Some of the interviewed think that the currency bloc will ultimately turn into the fiscal union. Barclays note that many investors think that some form of quantitative easing is likely in Europe. However, almost 25% of the surveyed expect the euro area to break up. In the bank's second-quarter survey, only 1% expected sovereign-debt restructuring in many countries, leading to a euro-zone breakup in 2012. The number of respondents expecting some adverse spillover onto emerging markets almost doubled to 30% compared with the previous quarter. Nearly 70% of foreign-exchange investors surveyed think that the markets will be focused on euro zone's issues in the next 3 months. 60% of equities investors regard the European banking crisis as the biggest risk to global stock markets. The pair EUR/USD is now seen trading below $1.35 during the next half a year. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/8704

"BoA, Citigroup: Fed's decisions won’t affect the greenback"(2011-09-20) The Federal Reserve’s 2-day meeting begins today. Tomorrow at 10:15 pm (GMT+4) the FOMC releases its statement and the Federal Funds Rate. Investors expect American monetary authorities to announce Operation Twist – increasing the duration of the central bank’s bond portfolio in order to lower the long-term interest rates. Analysts at Bank of America Merrill Lynch think that the news won’t make any significant impact on the greenback’s rate as they are already largely priced in by the market. The specialists underline that since such option as Operation Twist was mentioned in August the dollar index has added 4.2%, so its implementation will lead to neutral effect. Currency strategists at Citigroup share this opinion. The bank leaves room for some short-term effects, but thinks that the market’s attention will be focused on the euro zone’s debt crisis and even on the concerns about Asian economic growth. Comment here http://www.fbs.com/analytics/news_markets/view/8702

"S&P cut Italian credit rating"(2011-09-20) The concerns about the euro zone’s future have strengthened as Standard & Poor’s lowered Italy’s credit rating from A+ to A. The agency said that the nation having the second biggest debt burden in Europe after Greece will face a lot of obstacles in trying to reduce it. Among these difficulties the agency cited weakening economic growth, precarious position of Italian government and rising borrowing costs. S&P lowered Italian average annual economic growth forecast for 2011-2014 from 1.3% to 0.7%. This month Silvio Berlusconi’s government has passed a 54 billion-euro ($74 billion) austerity package aiming to balance the budget in 2013. That allowed the ECB to buy Italian debt easing down the pressure on the nation. The yield on Italy’s 10-year bonds rose to 5.619% that is 385 basis points more than similar German debt. Rising borrowing costs make it extremely hard for the country to sell more debt – Italy needs to sell more than 50 billion euro of bonds this year. There are 3 auctions set for next week starting on September 27. Another major rating firm, Moody’s Investors Service, will decide next month whether to cut ratings on Italy and Spain. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/8700

"Forecast Pte expects GBP/USD to decline"(2011-09-20) Technical analysts at Forecast Pte claim that British pound may fall versus the greenback to more than 8-month minimum at $1.5489, last seen on January 10. This level represents 50% Fibonacci retracement of sterling’s advance from May 20, 2010, minimum at $1.4231 to the maximum of April 28, 2011, at $1.6747. The specialists are bearish on GBP/USD as the pair has breached its 200-day MA. The MACD (moving average convergence/divergence) is still negative (at -0.0158, below the signal line at -0.012) that’s also a bearish signal. According to the strategists, resistance is found at September 13 maximum of $1.5870. In their view, the downtrend is strong and any attempts of the bulls to push pound higher would result in nothing more than a correction. Chart. Daily GBP/USD Comment here http://www.fbs.com/analytics/news_markets/view/8698

"Commerzbank: bearish EUR/USD forecast"(2011-09-20) Technical analysts at Commerzbank note that the single currency found itself under severe negative pressure versus the greenback yesterday. The specialists underline that EUR/USD has so far closed below the major support represented by the 2010-2011 uptrend, the 55-week MA, the July minimum, the 200-week MA and the 200-day MA. In their view, the pair is poised down to $1.3428/10 (February minimum and 50% retracement of the advance made in 2010-2011) and then to $1.2860 (2010 minimum). As for the longer term, the bank keeps its target at $1.2000. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/8696

"UBS: technical comments on USD/CHF"(2011-09-19) Technical analysts at UBS note that the greenback has risen from last week’s minimum at 0.8645 hit on September 15 to the levels above 0.8854. In their view, the pair USD/CHF can now climb to September 12 maximum at 0.8928 and then to April 20 maximum at 0.9012. The specialists claim that support in the near term is found at 0.8645. Chart. Daily USD/CHF Comment here http://www.fbs.com/analytics/news_markets/view/8692

"UBS, Nomura: dollar’s gaining ahead of the Fed"(2011-09-19) US dollar strengthened versus euro, pound and commodity currencies ahead of the Federal Open Market Committee’s 2-day meeting that begins tomorrow. Analysts at Wells Fargo, Barclays Capital and Goldman Sachs think that the FOMC may decide to replace some of the short-term Treasury securities in the Fed’s $1.65 trillion portfolio with the long-term debt in order to lower the nation’s rates. Such options in referred to among traders as «Operation Twist». The dollar-positive factor is that the market doesn’t expect more quantitative easing. Other drivers of the greenback are renewed demand for safe havens and the elevated stock market volatility. Analysts at UBS are positive on US currency in the medium term. Analysts at Nomura claim that the US monetary authorities are fulfilling their pledges and supporting the markets. In their view, the greenback will be more attractive than the single currency due to the continuing euro zone’s debt crisis. However, though QE is unlikely, there’s some risk that the Fed expand its balance sheet on the negative economic data. According to the data from the Commodity Futures Trading Commission (CFTC), the number of net short positions in euro has risen to 54,459 contracts during the week that ended on September 13. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/8690

"Jyske Bank: sell GBP/USD"(2011-09-19) pound declined from last week’s maximum at $1.5870/85 to the 8-month minimums in the $1.5685 area. Currency strategists at Jyske Bank are bearish on GBP/USD. The specialists advise investors to sell sterling taking profit at $1.5415 and placing stops at $1.6012. According to the bank, pound is vulnerable due to the speculation that British budget deficit increased to 12 billion pounds in August after July’s almost 2-billion surplus. In such case, the UK will likely lose its credit rating. The data on Public Sector Net Borrowing are published on Friday at 12:30 pm (GMT+4). Chart. Daily GBP/USD Comment here http://www.fbs.com/analytics/news_markets/view/8688

Finally Indonesian trader have won the contest!!! Dear Traders, FBS “999” demo contest has finished and we are happy to announce its results. We do congratulate our top three winners (Account#188525 from Indonesia , 186609 from Uzbekistan and 187628 from Ukraine) of this FBS "999" Demo Contest and we are very much thankful to all the participants who took part in the contest , and we do appreciate their kind attention towards the competition. Contestants who missed out the winning slots should not worry and keep participating in frequently scheduled FBS contests. The glorious 653th place is taken by a contestant from Malaysia with contest account number 187031. And we grant him with a free FBS Mastercard. Thank you very much, dear traders. Brokerage company FBS wish you further success in trading and victories. Regards, FBS Holdings Inc. Note: We would like to remind you that the registration for the new “999” Contest will available soon on our official website http://www.fbs.com/contest/999 . Work with FBS , be friends with FBS and be successful! (Best mini Forex Broker of 2010) Stay connected with FBS because its all about you!

"Ichimoku. Weekly forecast. USD/CHF"(2011-09-19) Weekly USD/CHF On the weekly chart USD/CHF will keep consolidating in the 0.8700/0.8900 area after the powerful advance made after Switzerland’s central bank had pegged the national currency to euro the weak earlier. Tenkan-sen (1) and Kijun-sen (2) have leveled up in the horizontal state providing support for the greenback. Resistance is generated only by Kumo (3, 4). The Ichimoku Cloud is narrowing – Senkou Span A (3) is directed sideways, while Senkou Span B is moving down (3) to meet it. Chart. Weekly USD/CHF Daily USD/CHF The pair keeps moving within the uptrend. Tenkan-sen (2) and Kijun-sen (1) have gone sharply up supporting the prices. The bullish Ichimoku Cloud is rapidly widening as Senkou Span A (4) has jerked up, while Senkou Span B remains in the horizontal mode (3). The rate’s consolidation seen last week may take some more time, but the general technical picture is positive. Chart. Daily USD/CHF Comment here http://www.fbs.com/analytics/news_markets/view/8680

"Ichimoku. Weekly forecast. USD/JPY"(2011-09-19) Weekly USD/JPY The situation on the weekly USD/JPY chart remains almost the same. The prices keep consolidating between 76 and 78 yen. High demand for yen keeps contrasting with the risk of the Bank of Japan’s interventions. The greenback still lacks support, while resistance is provided by the declining Tenkan-sen (1) and the horizontal Kijun-sen (2) as well as by the descending Ichimoku Cloud (3, 4). The Turning line (1) and the Standard line (2) keep the strong “dead cross” in place (5). Chart. Weekly USD/JPY Daily USD/JPY Last week the prices have once again dropped below the Standard line (1) and the Turning line (2) which now act as support for the greenback. Kijun-sen (1) and Tenkan-sen (2) formed the “golden cross” (5), though the signal was rather weak as the intersection took place below the Ichimoku Cloud (3, 4). At the same time, all lines of the Indicator turned horizontal (1, 2, 3 and 4) pointing at the continuing consolidation. US dollar may be able to rebound a bit, though it won’t manage to rise above Tenkan-sen (2). Chart. Daily USD/JPY Comment here http://www.fbs.com/analytics/news_markets/view/8679

"Ichimoku. Weekly forecast. GBP/USD"(2011-09-19) Weekly GBP/USD Last week the bears have won once again: pound declined approaching the middle of the Ichimoku Cloud. The lines Tenkan-sen (1) and Kijun-sen (2) have quitted neutral state deviating down. That means that the prices are likely to aim to the lower border of Kumo. The bullish Cloud (3) itself is narrowing – the bulls keep losing powers. Chart. Weekly GBP/USD Daily GBP/USD On the daily chart the picture seems to be more bearish. All attempts of the bulls to push sterling higher were in vain. The Turning line (1), the Standard line (2) and Kumo are providing solid resistance for the pair GBP/USD. All lines of the Indicator are directed down (1, 2, 3 and 4). The descending Ichimoku Cloud is widening as Senkou Span A (3) is moving only downwards. As a result, technical analysis points out that the pound may keep depreciating. Chart. Daily GBP/USD Comment here http://www.fbs.com/analytics/news_markets/view/8678

"European policymakers offered no plan"(2011-09-19) The single currency opened with a bearish gap versus the greenback as the debt situation in the euro area remains very tough. The markets are extremely disappointed as the European finance ministers didn’t offer any solution of the debt crisis during the Ecofin summit in Poland. US Treasury Secretary Timothy Geithner who attended the meeting proposed to increase the size of The European Financial Stability facility (EFSF) with the ECB funds, but German Finance Minister Wolfgang Schaeuble and Bundesbank President Jens Weidmann rejected this suggestion. Today Greek Finance Minister Evangelos Venizelos meets the EU and the IMF officials to decide whether the nation can meet the conditions of the rescue loans is eligible for the next tranche of the bailout payment in October and for a second rescue package. It’s also necessary to note that Angela Merkel’s Christian Democrats were only second in Berlin state election – the sign that Merkel’s intention to save euro at any cost providing financial help for the troubled periphery nations is becoming more and more unpopular. The pair EUR/USD lost 1% sliding from Friday’s close at $1.3795 to the levels below $1.3700. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/8674

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"Nomura: euro will rise to $1.40"(2011-09-16) Despite the deepening crisis in the euro area strategists at Nomura Securities see some light for the single currency. In their view, in the short term euro may strengthen versus the greenback. The specialists underline that the central banks will likely buy euro to rebalance their portfolios for the end of the quarter. Nomura says that Greece may soon receive financial aid. In addition, the Federal Reserve is expected to sound dovish on its meeting that is taking place next week on September 20-21 – dollar-negative factor. According to Nomura, EUR/USD will reach $1.40 in the near term. However, the analysts are still bearish on the pair in the medium term – in the fourth quarter they see it drop to $1.30. As a result, the economists advise traders to use euro’s advance to sell it. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/8672

"Credit Agricole corrected EUR/USD forecasts"(2011-09-16) Analysts at Credit Agricole continue being bearish on the prospects of the single currency versus the greenback. Never the less, the specialists revised their forecast for EUR/USD by the end of the year a bit higher from $1.3000 to $1.3700. Such change of the outlook reflects the expectations that the period of US economic weakness will last longer than it was thought before and that the Federal Reserve will further loosen its policy, though not in the form of the third round of quantitative easing. The bank has cut 2012 euro zone’s growth forecast as well from 1.6% to 1.1%, while the growth in the second half of this year is seen as minimal. The ECB is likely pause its tightening cycle. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/8670

"RBC: forecasts for USD/CAD"(2011-09-16) Currency strategists at RBC Capital Markets believe that the greenback’s upward potential versus its Canadian counterpart in the medium term is limited as there’s no great demand for US currency. The specialists note that loonie seem to be attractive for investors on the back of European debt crisis and easing policies conducted by the most of the developed nations’ central banks. In their view, in the current circumstances Canadian dollar is perceived as the hard currency that is widely traded all over the world and may serve as a good store of value. The bank underlines that loonie was one of the worst performers June 2010 showing better results only against US dollar, so this may eventually help CAD strengthen versus other G10 currencies. According to the bank, the pair will finish 2011 at 1.01, the first quarter of the next year at 1.00 and end 2012 at 0.98. Chart. Daily USD/CAD Comment here http://www.fbs.com/analytics/news_markets/view/8668

<p> </p> <div></div> <div> </div> <div>"FX Concepts about the situation in the euro area"(2011-09-16)</div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div>John Taylor, the head of the world’s largest currency hedge fund FX Concepts, believes that the single currency has to be restructured as the euro zone nations seem unable to coordinate their policy, while the continuous coherent action is what is needed to overcome the region’s debt crisis.</div> <div> </div> <div>In his view, the ECB liquidity plan won’t solve any of the European major problems. </div> <div> </div> <div>Taylor claims that there’s a mixture of a very unpleasant things in the euro area – a “horrific cocktail” – that consists of monetary restraint, tightness and fiscal austerity.</div> <div> </div> <div>The specialist says that Greece ought not to leave the monetary union. In his opinion the nation is getting pushed out of the currency bloc but the policymakers do nothing to stop that process.</div> <div> </div> <div> </div><div> </div> <div>Chart. Daily EUR/USD </div> <div> </div> <div> </div> <div> </div> <div>Comment here http://www.fbs.com/analytics/news_markets/view/8666</div>

<p> </p> <div></div> <div> </div> <div>"Credit Agricole reduced USD/JPY forecast"(2011-09-16)</div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div>Analysts at Credit Agricole lowered their forecast for the greenback versus Japanese yen by the end of the year from 90 to 80 yen and from 102 to 85 yen by the end of 2012.</div> <div> </div> <div>The specialists note that there are 2 factors strengthening yen: firstly, its status of the safe haven and, secondly, US yield advantage over Japan has narrowed during the recent months. Credit Agricole underlines that the Swiss National Bank’s decision to peg franc to euro increases the attractiveness of Japanese currency. According to the bank, there is little chance that significant easing in risk aversion and/or better US economic data.</div> <div> </div> <div>The pair USD/JPY keeps trading in the narrow range between 76 and 77.85 yen staying close to the record minimum at 75.94 yen. </div> <div> </div> <div> </div><div> </div> <div>Chart. Daily USD/JPY </div> <div> </div> <div> </div> <div> </div> <div>Comment here http://www.fbs.com/analytics/news_markets/view/8664</div>

<p> </p> <div>[color="black"</div> <div> </div> <div>"Commerzbank: comments on EUR/USD"(2011-09-16)</div> <div> </div> <div> </div> <div>] </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div>Technical analysts at Commerzbank note that euro’s upward correction versus the greenback from $1.3595 was greater when they have expected. In their view, EUR/USD faces resistance ahead of $1.4022/35 (the 200-week and the 200-day MAs) and won’t be able to overcome it.</div> <div> </div> <div>The specialists reiterate that the longer-term outlook for the single currency is negative: the pair is seen falling to $1.3428/10 (February minimum and 50% retracement of the advance from 2010 to 2011) and then $1.20.</div> <div> </div> <div> </div><div> </div> <div>Chart. Daily EUR/USD </div> <div> </div> <div> </div> <div> </div> <div>Comment here http://www.fbs.com/analytics/news_markets/view/8662[/color]</div>

<p> </p> <div></div> <div> </div> <div> "The ECB will provide euro zone banks will dollar liquidity"(2011-09-16)</div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div> </div> <div>The ECB is going to join efforts with the Federal Reserve and other central banks to conduct three separate dollar liquidity operations on October 12, November 9 and December 7 to ensure lenders have enough of the currency through the end of the year. This would add to the central bank’s regular 7-day dollar offerings and will be fixed-rate tenders with full allotment.</div> <div> </div> <div>Analysts at Australia & New Zealand Banking Group think that European banks are lacking liquidity because people don’t trust the economic policy structure in Europe. In their view, the dollar-swap will help to improve the situation, but still won’t be enough.</div> <div> </div> <div>Today is the meeting of the EU finance ministers in Poland. US Treasury Secretary Timothy Geithner will also be attending the event. The ECB President Jean-Claude Trichet urged euro-area governments to act to stop the crisis.</div> <div> </div> <div>The pair EUR/USD rose from 7-month minimum at $1.3495 hit on September 12 to the levels above $1.3800. At the same time many experts say that it would be hard for euro to get back to $1.40.</div> <div> </div> <div> </div><div> </div> <div>Chart. Daily EUR/USD </div> <div> </div> <div> </div> <div>Comment here http://www.fbs.com/analytics/news_markets/view/8660</div>

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