Hi everyone

Some good news to start the week. Yesterday Monday November 16th 2009, FXstreet.com’s Forex Mobile Site:

http://m.fxstreet.com

broke for the first time ever the 2,000 unique visitors level to reach 2,236, much above the previous high of 1,747 reached Tuesday last week.

UPDATE: on Tuesday November 17th the mobile site reached a new all-time high of 2,688 unique visitors and 3,636 page views.

I must clarify that the main reason behind this big increase is that Google Analytics stats are now counting both mobile devices supporting JavaScript and those that don’t. Before yesterday Google Analytics was only recognizing those that run JavaScript, which are mostly last generation devices.

So to summarize it, previous data was underestimating the real traffic of our mobile site, but I can not stand to congratulate ourselves for having such a crowd visiting already our Mobile Site.

Thanks everyone!

Francesc

MF Global Exits Bermuda, Posts Loss
By The Wall Street Journal
MF Global Ltd. said Thursday it plans to relocate its legal base from Bermuda to the U.S. where it believes financial reform will make it more competitive with bank rivals.
The derivatives brokerage has railed against what it views as the anti-competitive impact of banks receiving U.S. government backing, but said it is regaining lost market share.
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MF Global Reports Second Quarter 2010 Results
By Reuters
MF Global Ltd. (NYSE: MF), a leading intermediary offering customized solutions in global cash, derivatives and related markets, today reported financial results for the second fiscal quarter of 2010, ended September 30, 2009. Second Quarter Highlights:
* Revenue, net of interest and transaction-based expenses (net revenue), was $252.0 million for the second quarter versus $372.9 million for the same period last year.
* GAAP net loss applicable to common shareholders was $16.0 million or $0.13 per basic and diluted share for the second quarter, compared with net income of $3.5 million or $0.03 per basic and diluted share for the same period last year.1
* Client payables were $12.2 billion at September 30, 2009 compared to $14.0 billion at September 30, 2008. MF Global`s market share in August 2009 of U.S. segregated assets was 5.8%, a 12-month high.
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Hi everyone, two weeks ago I made a post here announcing that FXstreet.com Forex Mobile Site:

http://m.fxstreet.com

The new high was made the week from August 30th to September 5th when it touched 5,316 visitors, 14,950 visits and 44,817 page views.
Well, the following two weeks the mobile site kept breaking highs so for the week of September 13th to 19 it touched a new high of 46,428 page views, but remained under highs in visitors - 5,069 - and visits - 14,554.

Focusing monthly data, the site should beat in September the previous high from August of  19,582 visitors, 59,208 visits and 180,489 page views.

Excellent numbers indeed

Francesc

Nassim Taleb on the economy ‘We still have the same disease’
The Globe and Mail
On the anniversary of the spectacular collapse of Lehman Brothers, Nassim Nicholas Taleb is one of those people who can say, “I told you so.” For the past decade, he’s been warning that the global economy has become far more vulnerable to unpredictable events that can cause vast disruption. He famously foresaw the credit crunch that brought the financial system to its knees.
Mr. Taleb is a Wall Street derivatives trader who became an academic specializing in the study of randomness and probability. In May of 2008 he published The Black Swan: The Impact of the Highly Improbable. It argued that most economists and bankers live in a dangerous fantasy world in which they imagine they can control the future. The book takes its name from the fact that all swans were once believed to be white – until black swans turned up in Australia.
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Related News
Stiglitz Says Banking Problems Are Now Bigger Than Pre-Lehman by Bloomgerg
Risk of deflationary collapse greater now than in 2007, Janet Tavakoli

Hi everyone

Here you have the top10 reports in FXstreet.com for August 2009. I must highlight that number 5th position is for an Education report for the first time ever as far as we known. Congratulations 4xLounge!.

I also must welcome in the top10 to MPTrader.com, ForexHound.com and InnerFX. Financial Trend Analysis keeps the first position, followed by Master the Markets and our Valeria Bednarik

Francesc

August Top10 Reports
1. Today’s Trading Signals by Financial Trend Analysis [24,697]
http://www.fxstreet.com/technical/analysis-reports/todays-trading-signals/

2. Currency Trading Majors Pairs by Master the Markets [16,573]
http://www.fxstreet.com/technical/forex-strategy/currency-trading-majors-pairs/

3. Currency Majors Technical Perspective by Valeria Bednarik [15,396]
http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/

4. Daily Options Intelligence Report by Interactive Brokers LLC [14,364]
http://www.fxstreet.com/fundamental/analysis-reports/daily-options-intelligence-report/

5. Forex 30-day Trading Program by 4xLounge [9,713]
http://www.fxstreet.com/education/forex-basics/forex-30day-trading-program/

6. The Mid-Day Minute by MPTrader.com [7,408]
http://www.fxstreet.com/technical/market-view/the-midday-minute/

7. Forex Technical Report by ForexHound.com [7,042]
http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/

8. Daily Recommended Trades by InnerFX [5,952]
http://www.fxstreet.com/technical/forex-forecasts/daily-recommended-trades/

9. Chart of the Day by FX Solutions (James Chen - ITC 2009) [5,541]
http://www.fxstreet.com/technical/analysis-reports/chart-of-the-day/

10. Top Fundamental Stories by ecPulse.com (New contributor) [5,201]
http://www.fxstreet.com/fundamental/analysis-reports/top-fundamental-stories/

Update on Learning Center:

Learning Center - Unit B - Analytical Tools [24,508]
http://www.fxstreet.com/education/learning-center/unit-2/

China alarmed by US money printing by The Telegraph
The US Federal Reserve’s policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy, according to a top member of the Communist hierarchy.
Cheng Siwei, former vice-chairman of the Standing Committee and now head of China’s green energy drive, said Beijing was dismayed by the Fed’s recourse to “credit easing”.
“We hope there will be a change in monetary policy as soon as they have positive growth again,” he said at the Ambrosetti Workshop, a policy gathering on Lake Como.
“If they keep printing money to buy bonds it will lead to inflation, and after a year or two the dollar will fall hard. Most of our foreign reserves are in US bonds and this is very difficult to change, so we will diversify incremental reserves into euros, yen, and other currencies,” he said.
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Hi everyone

I’m terrible happy and proud today to share with you the incredible performance FXstreet’s Forex News are having since we took over the news elaboration at the beginning of the year.

http://www.fxstreet.com/news/

Let me explain….

FXstreet’s Forex News has always been a very important section for our site. For many years, we had a very complete news feed from AFX News, Reuters and Dow Jones. With those providers, the section reached an all-time high of 506,000 page views on January 2008.

AFX News was bought then by Thomson and then bought Reuters or vice versa, they changed the feed and its quality fell abruptly. Also, Dow Jones is changing the feed too, so we had to move and fast, deciding to get rid of Thomson/Reuters news and give ourselves a shot and create our own 100% 24/5 Forex focused feed.

The first consequence of that decision was a heavy fall in news traffic, but with the hard work of a great team lead by Sandra Garcia, FXstreet’s Forex news section started to steadily pick up its numbers a few months ago till reaching in August - YES IN THE MIDDLE OF SUMMER BREAK! - the second best all-time high touching 503,000 page views.

Unfortunately this numbers will be hit in a few months when we cancel our agreement with Dow Jones as we are not interested in the new feed they are putting together, but instead we will increase the in-house editor’s team with the money we will save from DJ deal. I hope with hard work again, we will be able to recover from the blow of loosing DJ news and move up to touch news high in the 3rd quarter 2010.

Also, I must highlight the big interest of many brokerage firms, IBs, other Forex related sites and financial sites in incorporating our news to their offerings. Soon - I hope - a very important site will be publishing our news feed so I very confident in the quality of the service we are providing.

For the time being, my congratulations to Sandra Garcia, Valeria Bednarik, Mauricio Carrillo, Guillermo Alcalá, Vicky Ferrer, Matías Salord and Sandra Michael. They make possible to have a 100% 24/5 Forex focused feed in English and Spanish.

Congratulations guys!

Francesc

I hope PIMCO is wrong this time…

You know that we at FXstreet.com are mainly paid in USD so I’m a USD supporter… Go USD go!

Pimco Says Dollar to Weaken as Reserve Status Erodes by Bloomberg

Update
I hope Mr. Buffett is wrong too…. It seems to me too many people has to be wrong in order me to be happy

Warren Buffett warns budget deficit may harm dollar by The Telegraph

Interesting read for those of you skeptical of recent stocks rise….

Francesc

Is This the Start of the Big One?
by Naked Capitalism
I don’t believe in market calls, and trying to time turns is a perilous game. But most savvy people I know have been skeptical of this rally, beyond the initial strong bounce off the bottom. It has not had the characteristics of a bull market. Volumes have been underwhelming, no new leadership group has emerged, and as greybeards like to point out, comparatively short, large amplitude rallies are a bear market speciality.

In addition, this one has had some troubling features. Most notable has been the almost insistent media cheerleading, particularly from atypical venues for that sort of thing, like Bloomberg. Investors who are not at all the conspiracy-minded sort wonder if there has been an official hand in the “almost nary a bad word will be said” news posture. Tyler Durden has regularly claimed that major trading desks have been actively squeezing shorts. There have been far too many days with suspicious end of session rallies.
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• After a small break in June, Global PMI had another strong increase in July. The global new orders index rose from 49.1 to 53.3, which is above the long-term average of 52.6. OECD’s leading indicators also rose strongly to even higher levels, pointing to very strong growth and a further rise in PMI during Q3 and Q4.
• The order-inventory balance from PMI data also rose a bit further, painting a similar picture of very strong global growth in H2 09.
• In the US most leading indicators continued higher. The ISM new orders index made another move higher from 49.2 to 55.3 and the order-inventory balance rose further. The ISM model points to a further rise above 55 by year-end.
• In Euroland OECD’s leading indicator, the PMI order-inventory balance, and ZEW all point to a significant rebound in H2 growth. In Scandi a sharp further rise in Swedish PMI stands out. Other countries and surveys also point to improvement, albeit at a slower pace.
• Asia continues to look strong. In particular, the sharp rebound in industrial production in Japan, Taiwan and South Korea is striking. CEE shows further a rise in PMI. Russian PMI increased strongly again in July.
• Outlook: We look for further improvement in PMI data in the coming months whereas some of the leading indicators that have risen the most are likely to level off soon from the very high levels. Global GDP growth looks set for a strong H2 recovery.
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