Management Business

If a forex trader is trading within the ranging strategy, sometimes it is difficult to identify currency pairs that are more possible to remain range-bound and to be more profitable this way. The solution that can help to avoid this difficulty is staying away form the dollar-centered currency pairs and watching the currencies’ interest rates of the central banks.

It is said that it is better to trade the currency pairs including US dollar as their component within the trending strategy, in contrast to the range strategy. However, ranges happen in dollar-based currency pairs as well, but trading them in terms of ranges for a long times appears to be ineffective and unprofitable. This happens because currency pairs including dollars turn out to be unable to stay within a range for a consistent period of time.

However, the cross-currency pairs are more likely to remain within a range. It is important to mention that the most widespread pairs for the range trading according to the recent historic data are AUD/NZD, GBP/JPY, EUR/JPY, and GBP/CHF. They show stable ranging environments for sufficient periods of time.

If a currency pair tends to trend, the possibility that it will make successful range-bound trades in forex market is very low. On the contrary, if the currency pair doesn’t have a strong trend, the possibility of the profitable ranging strategy rises.

Certainly, no one can promise that this is true for all currency pairs in all condition s and all time frames. Definitely, exceptions happen. As for choosing the currency pairs that are best for the range trading a forex trader should pay attention to such indicator as low interest rate differentials – pairs with low interest differentials increase the chances of profit in range-bound trading.

Moreover, a forex trader has to watch the long-term charts closely – they give a perfect picture of which countries are interlinked in economic and political terms – this will also contribute to understanding what currency pairs to choose for forex trading and what forex trading strategies better to use.

However, the key thing about the forex range trading is that if a certain currency pair has good preconditions for the range trading, this doesn’t necessarily imply that will last for a long time. Thus, it is crucial to work out the risk management strategy in addition to the suitable forex trading strategy. Nevertheless, identifying cross-currency pairs for the range trading increases the chances for a profitable forex trade.

French banks have reduced their exposure to debts of Greece but still the largest creditor country was saved from bankruptcy two months ago, official data showed on Wednesday.

French banks reduced their exposure to Greece 10 percent between late 2009 and March 2010 – from 75.1 billion dollars to 67.3 billion dollars (52 billion Euros), according to figures from the Bank of International Settlements, known as the central bank from the central bank. March was the lowest level since late 2007, when the global financial crisis began to bite, triggering a credit crisis that brought most of the developed world to its knees.

The loan balance most French banks made to the private sector and not including the purchase of Greek government bonds. According to BIS figures, German banks are the next largest investor in Greece 44.2 billion dollars. In May, the European Union and the International Monetary Fund bailout package to collect (the bailout), 110 billion Euros to Greek beyond the control of financial means it can no longer raise funds in the money market to pay back debt. Under the terms of the deal, which saved Athens from the default, the main French banks agree to prepare their loan commitments during the three years of the rescue program.

Meanwhile, the BIS figures show that French banks are also reducing their exposure to countries other euro zone are weaker, where the public deficit and debt problems similar to the Greek public finances have been put under great pressure. The first quarter of French bank exposures to Portugal fell from 44.7 billion dollars to 42 billion dollars; Spain from 219.6 billion dollars to 201.9 billion dollars, with Italy fell from 511.4 billion dollars to 476.3 billion dollars

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After a positive start to the season second-quarter earnings, pushing the market ahead of Wall Street for the sixth consecutive day. The blue-chip stock index Dow Jones Industrial Average rose 30 146.75 points (1.44 percent) to end at 10363.02. Technology-heavy Nasdaq composite index rose 43.67 points (1.99 percent) to 2242.03 and the broader market S & P 500 index leapt 16.59 points (1.54 percent) to 1095.34.

“Rally today is the continued search ‘bulls’ (passion),” said Ryan Detrick of Schaeffer’s Investment Research.

“While very light volume, earnings season has started strong, and we’ll see how long the bulls can stay in control.”

Dow member Alcoa, the unofficial start of the second quarter earnings season with a bang after the market close Monday, reported a swing into profit and increased projections for global demand. “Alcoa is also doing its part to reassure investors, noting the increasing demand in China, Russia, and Europe in the quarter,” said Kimberly DuBord of Briefing.com.

Frederic Dickson, chief market analyst at DA Davidson & Co., said earnings season off to a solid beginning. “While second-quarter earnings season has just come out of the starting gate, always help the psychology of investors if the initial reporting of the company provide better income than expected and did not cut the current quarter guidance,” he said.

Alcoa’s shares increased 1.20 percent to 11.00 dollars. Meanwhile Chevron, rose 1.92 percent to 73.23 dollars. Oil giant said in an update while it estimates second-quarter earnings exceeded the first quarter, ahead of the scheduled release earnings results on July 30.

Railway operator CSX, which also reported earnings better than expected after the close of trading Monday, down 1.41 percent to 51.72 dollars.

Markets showed little reaction to the government report about an unexpected widening of the U.S. trade deficit in May, analysts say.

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National unemployment rate in America fell to 9.5 percent thinner, because many Americans were desperate for a job. Monthly reports the latest U.S. Labor Department showed the U.S. economy lost more jobs last month, with the net difference between jobs created and lost, amounting to 125 000 jobs. This is the first time this year the number of jobs created is less than the number of layoffs. No fewer than 15 million American workers unemployed and seeking work already for months.

Nevertheless, the unemployment rate is still declining slightly in June, down zero point two percent to 9.5 percent. But this is also not good news, because no less than 652 000 Americans have given up in finding a job, because it never got a job after months and then exposed to layoffs in the midst of economic crisis. The private sector added more than 80,000 workers in their payroll last month, better than the previous month, but not enough to offset the loss of more than 200,000 temporary jobs as census officers. The trial heard that the economy towards the end of last week, Commissioner Keith Hall of the Bureau of Labor Statistics tries to put these figures into perspective.