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UFXBank Daily Review - March 16, 2010

Written by ForexCult Team
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Daily Review 16/03/2010  

USD Dollar (USD) – The Dollar finished with gains across the board except against the Yen that was favored by risk aversion. Better than expected NY Empire State Manufacturing Index which came out 22.9 vs. expected 22 and the Industrial production that came out 0.1% vs. expected 0% supported the strength of the Dollar. In the U.S Stock Markets, the NASDAQ lost -0.23% and the Dow Jones advanced by 0.16%. Crude Oil tumbled for a second day losing more than 1.5% closing at 79.85$ a barrel. Gold (XAU) advanced and closed at 1108$ an ounce. Today, investors are waiting for the rate decision that is expected to remain unchanged at 0.25%.  Building Permits expected at 0.6M vs. 0.62M previously.
EURO (EUR) – The Euro snapped 3 days of gains versus the Dollar as European finance ministers sparred over assistance for Greece, lowering investors appetite for higher yielding assets. Breaking below 1.3640 levels might extend the downtrend till the 1.3520. Overall, EUR/USD traded with a low of 1.3639 and with a high of 1.3783. Today, The German ZEW Economic Sentiment is expected at 43.5 vs. 45.1 previously and the CPI is expected unchanged at 0.9%.
EUR/USD – Last: 1.3692



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Which is the Best Forex Broker you have traded with?

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.

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

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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..

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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:
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