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NEW YORK
23:22
LONDON
04:22
PARIS
05:22
FRANKFURT
05:22
HONG KONG
10:22
TOKYO
12:22
SYDNEY
13:22
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UFXBank Daily Review - January 18, 2010

Written by ForexCult Team
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Daily Review 18/01/2010

USD Dollar (USD) – The Dollar gained versus most majors as stocks declined following investor's doubts about the economic recovery. Consumer Price Index came out worse with 0.1% versus 0.2% expected but had no effect. Michigan's Consumer Sentiment came out weaker as well with 72.8. NASDAQ and Dow Jones declined by -1.24% and -0.94% respectively led by drops in the financial sector. Crude dropped by -1.75% closing at 78$ a barrel and Gold (XAU) declined by -1.09% closing at 1130.10$ an ounce. Today is Martin Luther King Day and banks will be closed. Low liquidity and high volatility should be expected. 
 
EURO (EUR) –The Euro fell versus the Dollar as Greece's debt concerns continued to lower investor's confidence in the Euro. CPI came out as expected with 0.9% and Core CPI came out better with 1.1% versus 1.0% forecast. Overall, EUR/USD traded with a low of 1.4336 and a high of 1.4503. EUR/USD fell after not being able to remain above the 1.45 level. The pair is near its 200 moving day average that will act as a support level. No major economic data expected today.

EUR/USD - Last:  1.4365

Resistance    1.441    1.445    1.4485
Support    1.4335    1.43    1.4265

EURUSD""



British Pound (GBP) &ndash

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Interview with Matthew Sheppard

Senior Forex Advisor at XForex


1. What is your name and position?

Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

2. What is your experience and professional background?

In the last 6 years I had filled several positions in financial institutions such as a stock broker, a foreign exchange desk manager, a financial consultant and in my recent role I serve as a senior Forex advisor for XForex which is an online forex company.

3. What type of clients you deal with?

We deal with clients on all levels from the beginning stages to the more advanced trading levels.

4. Does most of your business activity come from the online or offline world?

Because of our high presence on the web, most of our business comes from the online world.

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Aside from all the benefits that XForex offer like commission-free trading, 24/7 online support, high leverage (200:1), XForex offers educational and learning trading experience that you won’t find anywhere else..

Our team of experts and financial trainers provide personal assistance and guide clients to financial success. We provide daily analysis and market reviews to our clients giving them a better understanding of the market and helping them trade profitably.

6. From your experience, what advice would you give a person who wants to enter the forex world?

My advice to the beginning trader entering the Forex world is as follows:
  • Learn the market and understand what you’re getting into.
  • Research and find the broker that suits your needs and wants. Look for a good offering but more importantly customer service, don’t go for the low rates offer without being certain they have a good customer service department. From my extensive experience in the Forex world your key to success will be your client-broker relationship. I can honestly say that at XForex they put an emphasis on servicing clients, which is so important.
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