Pound Rises with Increasing U.K. House Prices

The Great Britain pound gained today, paring its previous losses, after the report about the rising house prices increased the confidence that the economic recovery in the U.K. is strengthening.

These news have brought necessary refreshment to support the sterling’s performance after the concerns about the budget deficit and the uncertainty about the election’s outcome. In fact, the talks began that the Conservatives will win the election and will form the government strong enough to deal with the budget shortage, further strengthening the pound. The resulting optimism let some analysts expect that the pound will rise to 1.56 level against the U.S. dollar.

GBP/USD traded at 1.5472 as of 13:00 GMT today after opening at 1.5384. EUR/GBP traded near 0.8620 down from its opening level of 0.8673.

Canadian Dollar News, He Remains Near Parity

Hi there, how about your forex today? Lets see this Canadian Dollar news today! The Canadian dollar trades near parity with its U.S. counterpart as the traders await the outcome of the 45 billion euro aid package, provided by the European Union and the International Monetary Fund to Greece.

With the clarity about the bailout the global equity markets will be spurred, boosting the commodity currencies. The Loonie, as the Canadian currency commonly nicknamed, can be considered such currency as its performance depends on the moves of the equities and the commodities, like earlier, when the currency dropped after the prices for the oil, the biggest nation’s export, declined.

The experts think that outcome of the Greece’s crisis and the reaction of the markets on it will have significant impact on the Canadian dollar performance. Though, even if the rescue will be considered successful, the optimism for the European economy may be short-lived.

USD/CAD traded near 1.0007 as of 21:37 GMT at its opening rate today. EUR/CAD traded at about 1.3406 after opening at 1.3331.

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Fundamental Outlook at 1400 GMT (EDT + 0400)

This is Fundamental Outlook at 1400 GMT (EDT + 0400) use this for analysys your trading...

€

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3375 level and was supported around the $1.3200 figure. The common currency retraced some of its intraweek losses after Greece officially requested financial assistance from the European Union and the International Monetary Fund. The European Commission, European Central Bank, and the Eurogroup reported they are “taking note” of Greece’s request to “activate the financial support mechanism,” adding they “will decide upon the activation of this mechanism.” There is market talk that Greece will receive its first funding tranche before 19 May. The speed with which the European Union agrees to rescue Greece will partially be determined by the speed with which German Chancellor Merkel can push the unpopular bailout through the German legislature. Yesterday, Greece’s debt ratings were downgraded by Moody’s Investor Services. The activation of the financial assistance package for Greece will provide the country with a little bit of financial stability but there is talk that Greece will require well in excess of €100 billion in aid from the international community. Additionally, the euro may still continue to probe new multi-month lows because there is a higher threat that contagion will see Greece’s fiscal problems move to other highly-indebted eurozone countries including Portugal and Spain. G-7 and G-20 officials will discuss sovereign credit risk, exchange rates, Greece, global financial reform, and other key topical issues when they convene this weekend in Washington, D.C. Eurozone February industrial new orders were up 1.5% m/m and 12.2% y/y in data released today. Also, the German April Ifo business climate index rallied to 101.6 from 98.2 while the April Ifo current assessment index improved to 99.3 and the April Ifo expectations index rallied to 101.9. Also, French March consumer spending was up 1.2% m/m and 2.5% y/y. In U.S. news, data released today saw March durable goods orders decline 1.3%, a reversal from the revised prior reading of +1.1%, while the ex-transportation component was up 2.8%, up from the revised prior reading of 1.7%. Also, March new home sales were up 26.9% y/y to an annualized 411,000 units, a multi-decade record-setting pace. Press reports suggest Federal Reserve Chairman Bernanke is not convinced about the timing of asset sales to reduce the Fed’s balance sheet. Euro bids are cited around the US$ 1.3175 level.

¥/ CNY

The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥94.20 level and was supported around the ¥93.30 level. The pair continues to rise as there are increasing signs the U.S. economic recovery is taking root. The Japanese media is reporting Bank of Japan may raise its consumer price index forecast for fiscal year 2011 to near zero per cent growth, up from January’s estimate of -0.2%. Bank of Japan Governor Shirakawa spoke yesterday and reported inflation targets are one cause of asset price bubbles. It is likely that Shirakawa and other BoJ officials will resist the government’s likely call to adopt an inflation target, perhaps as high as 2% per year. Ahead of this weekend’s G-7 and G-20 meetings in Washington, D.C., Shirakawa said exchange rates should not be utilized to resolve trade disputes. Data released in Japan overnight saw the February all-industry activity index decline 2.3% m/m, a reversal from the upwardly revised +3.4% climb in January. The Nikkei 225 stock index lost 0.32% to close at ¥10,914.46. U.S. dollar offers are cited around the ¥96.85 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥125.20 level and was supported around the ¥123.40 level. The British pound moved higher vis-à-vis the yen as sterling tested bids around the ¥144.50 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥87.30 level. In Chinese news, the U.S. dollar appreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8274 in the over-the-counter market, up from CNY 6.8264. Attention will be focused on the G-7 and G-20 meetings in Washington, D.C. this weekend to determine how much multilateral pressure there is on China to revalue its yuan currency. Many China-watchers believe China may allow the yuan to appreciate at any time between now and the end of the quarter. Data released in China overnight saw the March leading index decline to 104.98 from the revised prior reading of 105.11.

₤

The British pound depreciated vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.5295 level and was capped around the $1.5400 figure. Data released in the U.K. today saw Q1 gross domestic product up 0.2% q/q and off 0.3% y/y, lower-than-expected on the quarterly basis and stronger-than-expected on the year-over-year basis. Prime Minister Brown will likely note these data suggest the economy is accelerating while his opponents in the 6 May General Election will note that economic growth remains very weak. Many political pundits believe the contest will result in a hung Parliament and some now say the general election is too close to call with Cameron perhaps still holding a slight lead over Brown. Cable bids are cited around the US$ 1.5140 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the £0.8700 figure and was supported around the £0.8605 level.

CHF

The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.0850 level and was supported around the CHF 1.0745 level. Swiss National Bank Chairman Hildebrand said he is “skeptical” of the International Monetary Fund’s G-20 bank tax proposal. Swiss National Bank and Swiss regulators announced new regulations this week that mandate UBS and Credit Suisse to hold larger amounts of reserves to defend against crisis scenarios. Data released in Switzerland today saw the March trade balance expand to CHF 2.01 billion from the prior reading of CHF 1.29 billion while the April ZEW expectations survey fell back to 53.4 from 53.8. Dealers continue to cite talk that Swiss National Bank may be intervening by bidding the euro/ franc cross higher. U.S. dollar offers are cited around the CHF 1.0920 level. The euro moved higher vis-à-vis the Swiss franc as the single currency tested offers around the CHF 1.4355 level while the British pound moved lower vis-à-vis the Swiss franc and tested bids around the CHF 1.6490 level.

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Easy Learning Money Management

Money management is very important and used in Investment management and deals with the question of how much risk a decision maker should take in situations where uncertainty is present. More precisely what percentage or what part of the decision maker's wealth should be put into risk in order to maximize the decision maker's utility function.

Let's  to learn money management for better earning


Money management gives practical advice among others for gambling and for stock trading as well.

Money management can mean gaining greater control over outgoings and incomings, both in personal and business perspective. Greater money management can be achieved by establishing budgets and analysing costs and income etc.

In stock and futures trading, money management plays an important role in every success of a trading system. This closely related with trading expectancy:

“Expectancy” which is the average amount you can expect to win or lose per dollar at risk. Mathematically:

Expectancy = (Trading system Winning probability * Average Win) – (Trading system losing probability * Average Loss)

So for example even if a trading system has 60% losing probability and only 40% winning of all trades, using money management a trader can set his average win substantially higher compared to his average loss in order to produce a profitable trading system. If he set his average win at around $400 per trade (this can done using proper exit strategy) and managing/limiting the losses to around $100 per trade; the expectancy is around:

Expectancy = (Trading system Winning probability * Average Win) – (Trading system losing probability * Average Loss) Expectancy = (0.4 x 400) - (0.6 x 100)=$160 - $60 = $100 net average profit per trade (of course commissions are not included in the computations).

Therefore the key to successful money management is maximizing every winning trades and minimizing losses (regardless whether you have winning or losing trading system, such as %Loss probability > %Win probability).

Money management is the process of managing money. It is including investment, budgeting, banking and taxes. it is also called investment management.

Money management is a strategic technique employed at making money yield the highest of interest-yielding value for any amount of it spent. Spending money to provide answers to all cravings (regardless of whether they are justifiable or not to be included in budget basket) is a natural human phenomenon. The idea of money management techniques is developed to plummet the amount individual, firm and institutions spends on items that add no significant value to its living standard, long-term portfolios and asset-basins. Warren Buffet, in one of his documentaries, admonished prospective investors to embrace his highly-esteemed "frugality" ideology. This is the basis of every sound money management formulas. The following are powerful techniques that can be employed in making every expense made to be worth it:

1. cutting your budget on social needs
2. avoid any snob-appealing expense
3. always go for the most cost-effective alternative (establishing small quality-variance bench-mark, if any)
4. increase expenses more on interest bearing item than any other thing
5. establish the expected benefits of every desired expense using the canon of plus/minus/nil to standard of living value system.
These techniques are investment-boosting and portfolio-multiplying.

Yen Advances as Credit Losses Damp Demand for Higher Yields

Yen Advances as Credit Losses Damp Demand for Higher Yields

Aug. 19 (Bloomberg) -- The yen increased to a three-month high against the euro on speculation financial firms will report more losses, reducing demand for higher-yielding assets funded by loans in Japan.

Japan's currency also advanced versus the dollar and the Australian dollar on concern Lehman Brothers Holdings Inc., the largest underwriter of mortgage bonds before the subprime market collapsed, may post $4 billion in credit writedowns. The dollar traded near a six-month high against the euro as U.S. wholesale prices increased in July twice the amount forecast.

``The downbeat assessment from big names in the investment community is weighing on the market,'' said Vassili Serebriakov, a currency strategist at Wells Fargo & Co. in New York. ``Risk aversion is coming back.''

The yen climbed 0.3 percent to 161.28 per euro at 10:32 a.m. in New York, from 161.82 yesterday, after touching 160.87, the strongest level since May 13. The yen advanced 0.3 percent to 109.78 per dollar, from 110.13. The dollar traded at $1.4692 per euro, compared with $1.4694, after reaching $1.4631, the strongest level since Feb. 20.

Japan's currency rose 0.5 percent to 95.16 per Australian dollar and advanced 0.5 percent to 204.45 versus the pound as concern that Lehman writedowns may deepen discouraged the carry trade, in which investors get funds in a country with low borrowing costs and invest where returns are higher. The Bank of Japan held its target lending rate at 0.5 percent today, the lowest among industrialized countries. That benchmark compares with 5 percent in the U.K. and 7.25 percent in Australia.

Outlook for Lehman

JPMorgan Chase & Co. predicted Lehman may lose $3.30 a share in the third quarter, more than three times the average analyst estimate in a Bloomberg survey. Financial institutions have posted more than $500 billion of losses and writedowns since the start of last year, according to data compiled by Bloomberg.

The Standard & Poor's 500 Index dropped 0.9 percent, while Europe's Dow Jones Stoxx 600 slid 2.1 percent. The MSCI Asia- Pacific Index of regional shares lost 2.1 percent.

Banks are being ``crushed by ballooning debts,'' said Tetsuhisa Hayashi, chief manager of foreign-exchange trading at Bank of Tokyo-Mitsubishi UFJ Ltd. in Tokyo, a unit of Japan's largest lender by market value. ``Risk aversion among investors will cause further yen buying,'' driving the Japanese currency to 100 per dollar by year-end, Hayashi said.

Producer Prices

The dollar briefly strengthened versus the euro after the U.S. Labor Department reported that producer prices climbed 1.2 percent in July after increasing 1.8 percent the previous month. The median forecast of 77 economists surveyed by Bloomberg News was for an increase of 0.6 percent.

``The market is seizing on any data that suggest interest rates need to go higher,'' said Stephen Malyon, co-head of currency strategy at Scotia Capital Inc. in Toronto. ``Our view is that inflation won't be a major problem in the medium term. Once the market gets a chance to reflect on that, it should be less dollar-bullish.''

Futures on the Chicago Board of Trade show a 16 percent chance the U.S. central bank will raise the 2 percent target rate for overnight lending between banks by at least a quarter- percentage point by its Dec. 16 meeting, down from 37 percent odds a week earlier. Policy makers next meet Sept. 16.

Dallas Fed President Richard Fisher said in a speech in Aspen, Colorado, that the U.S. economy may face a persistent rise in inflation as higher food and energy prices prompt companies to pass on cost increases.

Fisher's Dissent

Fisher's comments reflect his decision at the Aug. 5 meeting of the Federal Open Market Committee to dissent for a fifth time this year, preferring an increase in the benchmark interest rate. Central bank policy makers signaled two weeks ago a pause in any change in borrowing costs, noting falling employment and persistent financial market turmoil.

Crude oil for September delivery fell 0.2 percent to $112.65 a barrel on the New York Mercantile Exchange.

The Bank of Japan cut its economic assessment for a second straight month, acknowledging that threats to growth outweigh decade-high inflation as its chief concern. The world's second- largest economy shrank last quarter, putting it on the brink of the first recession in six years.

The revised BOJ outlook ``will place even less pressure on the yen to appreciate in the middle to long term,'' wrote Masafumi Yamamoto, head of foreign-exchange strategy for Japan at Royal Bank of Scotland Group Plc in Tokyo and a former BOJ currency trader, in a research note today.

RBS pushed back its forecast for a BOJ rate increase to the fourth quarter of 2009 from the second quarter, Yamamoto said, confirming the contents of the report.