Hi everyone

Before going for the weekend I´m leaving you here a piece of analysis from our friend David Solin, partner at Foreign Exchange Analytics.

David considers that is worth keep a close eye on crude, not only for oil’s potential action, but for the potential action it could trigger for the USD (especially on a near term basis).

Download oil-daily-aug29.pdf

Enjoy your weekend

Francesc

Hi everyone

I´m very happy to announce that my friend and extraordinary FX educator Mr. Rob Booker has been appointed as the new Chief Currency Strategist at InterbankFX.

The appointment was officially announced yesterday night.

I´m very happy for Rob and I wish him all the best of lucks in this new adventure. I also want to congratulate InterbankFX for this smart move. Getting Rob on board was one of the best things I´ve ever done at FXstreet.com so I´m sure that he will do great things at Interbank’s end as well.

Congrats guys!

Francesc

Hi everyone

As it´s always been since we started publishing Danske Bank’s Today’s Technical Trading Points, the report was the most viewed piece of research at FXstreet.com during the month of August 2008 with 32,000 page views.

Once more, congratulations to Danske Bank for such a nice piece of good analysis.

Here you have the top10 most viewed reports at FXstreet’s Technical and Fundamental Sections:

Technical
1. Today’s Technical Trading Points by Danske Bank 32,048
2. Daily Technical Analysis by Mizuho Corporate Bank 10,942
3. Daily Forex Technical Report by ActionForex.com 10,755
4. Daily Forex Forecasts by FXDream 7,441
5. The Daily Forecaster by FX-Forecaster.com 6,944
6. Daily Recommended Trades by E-Forex 6,116
7. Forex Analysis on Majors by Forex Ltd  5,101
8. Currency Performance Report by FXstreet.com 4,390
9. Forex Economic Analysis by Deltastock.com  4,042
10. Daily Market Commentary by GFT  3,962

Fundamental
1. World Interest Rates Table by FXstreet.com14,065
2. Gold Investments Market Update by Gold and Silver Investments Limited 2,491
3. Forex Levels for Today by To Trader Thinking  2,792
4. Weekly Market View by FXstreet.com  2,289
5. Daily Market Briefing by FXCM  2,072
6. Lessons from the Pros by Online Trading Academy  1,938
7. Daily Global Commentary by Northern Trust  1,923
8. US Market Update by Trade The News  1,548
9. London Gold Market Report by BullionVault.com 1,513
10. Asia Market Update by Trade The News 1,506

Hi everyone

Last Saturday I had the opportunity to visit a small village named El Catllar near Tarragona (Catalonia, Spain). The village was celebrating its yearly festival known here in Catalonia as “Festa Major”. The holidays last a few days and you can enjoy night music, kids activities, a village gathering for supper all together and many other activities…. and of course, you can get Castells.

As taken from The Wikipedia “A castell is a human tower traditionally built during festivals in many places in Catalonia. At these festivals, several colles castelleres (teams) meet and try to build the most impressive towers they can.
This tradition originated in Valls, near Tarragona, so El Catllar is in the middle of the land of Castells.

Well… to see how they load and download such human towers is a must as it is absolutely breathtaking.

I took some pictures for you and also you can see a Castell live at YouTube.

Enjoy them

Francesc

The dramatic drop in the Ifo in recent months clearly indicates that the German economy is increasingly affected by the slowdown in export markets. We have already seen a clear slowdown in consumption (which contracted for the third consecutive quarter in Q2) and slower export growth. As confirmed by today’s detailed national account for the German economy, this is impacting investments. Going forward, we think activity in this area will remain weak. This is bad news for the German economy, and therefore also Euroland as a whole as Germany was more or less the "last man to fall". In the second half of 2008, the German economy is likely to stagnate, and a technical recession is not an unlikely scenario….

We continue to expect the ECB to be sidelined for now, as the current environment does not give room for the ECB to either hike or cut rates. Furthermore, the weakening of the German economy does not come as a surprise. We expect a continuation of this development in the quarters ahead, which should intensify pressure on the ECB for a rate cut.
Full Story

Another one

SEC files suit against Royal Forex, owner (Dallas News)
The Securities
and Exchange Commission has sued a Carrollton man and his foreign
currency exchange business, alleging he runs a fraudulent investment
scheme that has lost investors more than $300,000.
The SEC filed
suit Wednesday against Patrick H. Haxton and his company, Royal Forex
Management LLC. The suit alleges that Mr. Haxton and his company’s Web
site tout high returns from the company’s "trading robot" program.
Full Story

With the market oversold after the last month of sharp declines, these recent bullish signs suggest at least a week or 2 of correcting higher and minimum 400 tick bounce may be ahead (and potentially more).
Download eur-daily-aug25.pdf

Times of India - India’s first currency futures
trading platform will go live on August 29. On Wednesday, the National Stock
Exchange (NSE) conducted the first mock trading on its foreign currency
derivatives segment with more than 300 members participating, a release from the
exchange said. NSE officials said participation was ‘very active’ with
some of the banks also participating in the mock trading.
Full Story

As always we welcome the analysis from David Solin, partner at Foreign Exchange Analytics.

Download eurchf-daily-aug20.pdf

Francesc

The rapid increase in food and energy prices over the past year has
boosted headline inflation in both Euroland and the US to levels not
seen since the early 1990s. Speculation concerning the outlook for
inflation given recent oil price developments has proliferated. In the
following discussion we try to assess the direct impact on future
inflation of three oil price scenarios and the implications for
monetary policy.
Full Story