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NEW YORK
08:04
LONDON
13:04
PARIS
14:04
FRANKFURT
14:04
HONG KONG
19:04
TOKYO
21:04
SYDNEY
22:04
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UFXBank Daily Review - March 2, 2010

Written by ForexCult Team
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Daily Review 2/3/2010 

USD Dollar (USD) – The Dollar finished higher against most of the currencies not including commodity linked currencies such as the Canadian and Australian Dollar. Personal Spending data came out better than expected with 0.5% versus 0.4% forecast and ISM Manufacturing Index came out 56.5 worse than 58 expected. Dow Jones gained by 0.76% and NASDAQ jumped by 1.58% after improved outlooks from several large caps. The Crude Oil failed to keep above 80$ and closed at 78.8$ a barrel. The Gold (XAU) finished almost unchanged at 1118.6$ an ounce. No major economic data expected today.
EURO (EUR) – The Euro declined against the Dollar as Greece's debt problems continue to worry investors. The Euro wasn't able to rise despite better than expected employment and manufacturing data. Unemployment rate came out 9.9% vs. 10.1% expected and the Manufacturing PMI came out 54.2 vs. 54.1 expected. EUR/USD has been trading between the 1.3680 resistance and 1.3460 support for almost 10 sessions until major economic surprises occur it is expected to remain in that range. Today, CPI is expected unchanged at 1%.
EUR/USD – Last: 1.354

Resistance    1.359    1.365    1.3685
Support    1.3505    1.345    1.34

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.

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My advice to the beginning trader entering the Forex world is as follows:
  • Learn the market and understand what you’re getting into.
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