LONDON, July 23, 2012 /PRNewswire/ --
As the euro fell 0.4% against the Australian dollar on Friday 20 July - its lowest level since its inception in 1999 - how do you plan to trade the euro in the coming weeks?
In the following guide, we offer you top tips for trading forex as the euro falls against multiple currencies.
Tip 1: Research the Forex Markets
The first step in any trading strategy is to research the market in which you plan to trade - and all of those that could potentially affect its future share price.
Whilst the fall of 0.4% to AUD1.1875 against the Australian dollar on Friday was significant in the sense that the euro had met levels as low as the time of its inception 13 years ago; it did not come as any surprise to the market.
John Doyle, director of markets at Tempus Consulting stated: "Overall, the euro is falling against anything."
Adding: "Breaking new lows like it has been wouldn't be surprising."
As an investor looking to trade the euro, you would be expecting the euro to fall following ongoing negative news out of the eurozone - and in turn, you would be prepared for such falls, should and when they occur.
Tip 2: Choose a Forex Trading Provider
Deciding which forex trading provider to trade with can be a difficult decision, what with so many available to you.
For many investors, you will be looking for independent reviews by fellow traders to determine which provider offers the best customer experience, usability, trading education and overall service.
Through the reliable reviewcentre.com, the top spread betting provider is City Index with 82 reviews and 81.7% of users recommending them as a brand.
In comparison, IG Index has only 46 reviews with just over half of users recommending them through reviewcentre.com.
Tip 3: Keep On Top of Your Trades
When trading the markets - in particular currencies that move quickly and are known to be volatile - it is imperative that you keep on top of your trades.
Whether a full time or part time trader, you can take a position across the global currency markets at a time to suit you from virtually anywhere in the world with the City Trading FX mobile application from City Index.Enabling forex traders full and secure access to their accounts, 24-hours a day - you can trade the global currency markets from the palm of your hand.
To download the app for free, users must have a live City Index forex trading account.
Start Trading Forex
To start trading forex across a range of trading platforms - including mobile and tablets - you can apply for a forex trading account through the City Index website.
Read More Forex Trading Tips
If you found this article helpful, you may want to read more just like this. You can access a range of forex trading tips, guides and articles through the Forex Trading section of the City Index website.
About City Index:
Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.
As a group, we transact in excess of 1.5 million trades every month in over 50 countries. We provide access to a wide range of instruments including margined foreign exchange, CFDs and, in the UK, financial spread betting.
We constantly look to improve the performance of our platforms and expand our range of services. The result is our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer support. Visit http://www.cityindex.co.uk for details.
Spread betting, CFD trading and forex trading are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.
SOURCE City Index
REFILE-Market Chatter - Corporate finance press digest - Reuters UK
(Refiles to remove Fidelity National and Wellpoint items as the deals were reported earlier)
July 23 (Reuters) - The following corporate finance-related stories were reported by media on Monday:
* EU regulators will allow a bid by HongKong's Hutchison 3G to buy France Telecom SA's Orange Austria if the new combined group permits other Austrian operators to access its network, according to an Austrian daily on Saturday, citing sources.
* NRG Energy Inc struck a deal to buy rival GenOn Energy Inc for $1.7 billion in stock, forming the largest U.S. independent power producer as the companies contend with sagging electricity prices.
* India's largest software services exporter Tata Consultancy Services Ltd and Cognizant Technology Solutions Corp have entered the race to acquire Lodestone Management Consultants, the Zurich-headquartered management and technology consulting firm. Infosys Ltd is the other company in the fray, the Financial Express reported. link.reuters.com/syn59s
* Lloyds Banking Group Plc faces the indignity of another cut price sell-off as buyers walk away from its 1.2 billion pounds Project Lundy auction. The state-backed bank has had to cut the price of the loans from a proposed 70p in the 1 pound to just 50p after failing to attract viable interest in a sale, the Telegraph reported. link.reuters.com/nep59s
* The U.S. group that led construction of the Olympic Park and a New York-listed rival are the latest companies considering bids to oversee the UK's 5 billion pounds ($7.82 billion) nuclear decommissioning programme, the Independent reported.
* Morgan Stanley is in advanced talks over selling a stake in its multibillion-dollar commodities trading division to Qatar's sovereign wealth fund, CNBC reported on Friday, citing people familiar with the matter.
* Vivendi SA's Universal Music Group plans to sell three music labels belonging to takeover target EMI to independent labels rather than its closest competitors, the Financial Times reported.
* Tata Chemicals Ltd, soda ash manufacturer and salt maker, is creating a holding company based out of Singapore to park all its natural resources in the US, the UK and Africa, joining conglomerates Essar Group and Vedanta Resources in creating global arms to raise money to fund expansions and acquisitions both in India and abroad, the Financial Express reported. link.reuters.com/xep59s
* Rupert Murdoch's resignation from directorships which control News Corp titles including the Sun, the Times and the Sunday Times, has sparked speculation that the company will sell its UK newspapers, the Telegraph reported. link.reuters.com/tep59s
* King.com, Britain's answer to Angry Birds producer Zynga Inc, is planning to make an initial public offering on Nasdaq next year, the Telegraph reported. link.reuters.com/pep59s
($1 = 0.6397 British pounds) (Compiled by Shilpa Hinduja in Bangalore; Editing by Prateek Chatterjee)
German finance minister says he's confident Spainish economy will soon be back on track - ca.news.yahoo.com
BERLIN - German Finance Minister Wolfgang Schaeuble says he doesn't fear Spain's path will follow that of Greece following an agreement to provide Madrid with up to €100 billion in eurozone loans.
Schaeuble was quoted in Bild newspaper Monday as saying the Spanish situation is totally different than that of Greece, which has so far been unable to fulfil the conditions set for receiving two bailouts totalling €240 billion.
Schaeuble says "the causes of the crises in the two countries are totally different."
"Spain's economy is much more powerful and has a different structure — the country will be back on track soon."
He wouldn't say if he thought Greece may abandon the euro currency if so-called "troika" of international debt inspectors came up with a negative report this week.
Finance pros have 'never had a better opportunity to progress their careers', CIMA report claims - HRmagazine.co.uk
The report, published this morning highlights how finance professionals have never had a better opportunity to progress their careers and make a real mark on their organisation.
'The fast track to leadership - the challenges, opportunities and action plan' concludes that as organisations operate in an increasingly challenging climate, a board's expectations of the finance function are becoming far more complex.
There is an increased demand for finance professionals to act as strategic business partners and help drive long-term sustainable success. This in turn places a greater demand on the skills and experience sought by organisations, especially in areas where management accountants can add real value and offer a competitive edge.
This report draws upon the personal experience of leading CFOs and finance directors to illustrate how management accountants can maximise these opportunities. They apply non-financial, qualitative information alongside the financial facts to inform decision making. Management accountants drive strong performance and are trusted to guide critical business decisions, bringing independence and objectivity.
CIMA and AICPA have formed a joint venture to establish the Chartered Global Management Accountant (CGMA) designation to further elevate the profession of management accounting.
Ana Barco, report author and head of innovation - talent management at CIMA, said: "In the more forward-looking organisations, finance is evolving from a focus on the transactional and cost efficiency areas to a real strategic focus where it can make a massive impact. This evolution is influencing the capabilities that finance professionals now need to demonstrate and bring to an organisation. It also highlights the exciting opportunities for CGMAs and those wishing to enter the profession."
"Despite many organisations cutting investment in training, highlighted by the CGMA Q2 Global Economic Forecast which showed that spending is predicted to decrease in the UK and Europe over the next 12 months, leading employers still recognise our ability to provide these capabilities and support business success. This is reflected by our new student growth, with over 26,000 joining last year."
Paul Venables, group finance director for Hays, added: "Organisations are recognising the critical role that the finance function plays in informing the strategic decisions that will define their success. Management accountants who can deliver technical financial expertise along with commercial awareness are in demand from employers and should take every opportunity to develop these skills in order to become the financial leaders of the future."
CORRECTED-FOREX-Euro struggles on mounting Spanish and Greece concerns - Reuters
(Correct 3rd paragraph to show Murcia has not decided on aid)
* Euro hits 2-year low vs dollar, near 12-year low vs yen
* Fall broad-based; hits record low vs Aussie
* Worries grow about stemming Spain and Greece fiscal problems
NEW YORK, July 23 (Reuters) - The euro slid to a two-year low against the dollar and a near 12-year trough against the yen on M onday on concerns Spain will have to seek a full sovereign bailout.
Spanish bonds yields soared to their highest levels since the euro was created, despite euro zone finance ministers approving on F riday terms for a loan of up to 100 billion euros for Madrid to recapitalise its banks. Analysts said this was the prime driver of the euro's fall.
Murcia could become the second Spanish region to request financial assistance from the government, after Valencia, with media reports suggesting six regions could seek aid.
"The week is off to a challenging start as rising fears over Europe push risk aversion higher," said Camilla Sutton, chief currency strategist at Scotia bank in Toronto. "Most of the focus is on Spain, with rising concern it too will need to access financial aid."
"With no EU summit on the horizon and European vacation season upon us, capital is moving rapidly from the more exposed regions to the stronger sovereigns," Sutton said.
The euro fell as low as $1.2067, its weakest since June 2010 and creeping ever closer to the 2010 low of $1.1875, using Thomson Reuters data. The euro was last at $1.2074, down 0.7 percent from Friday's close.
After closing at $1.2156 in New York on Friday, it "gapped" lower to open at $1.2120 in Asia on Monday morning, signifying the market perceived the value of the euro had dropped over the weekend in response to events in the euro zone.
Against the yen it dropped on the day to 94.22 yen, a level not seen since late 2000.
The euro tumbled not just against safe havens like the dollar and the yen but also against currencies that usually fall in times of heightened risk aversion in financial markets.
At the session lows of the day it hit a record low versus the Australian dollar, a more than 3-1/2 year low against sterling and a 9-1/2 year low versus the Norwegian crown.
GREECE WORRIES
The prognosis for Greece also appeared to darken, only adding to the reasons for investors to sell the euro. German magazine Der Spiegel reported on Sunday that the International Monetary Fund may not take part in any additional financing for Greece, highlighting growing frustration with Athens.
Speaking two days before a team of international lenders arrive in Athens to push for further spending cuts in return for more rescue payments, Prime Minister Antonis Samaras said Greece was in a "Great Depression" similar to the United States in the 1930s.
Looking ahead, analysts said any weakness in euro zone provisional purchasing managers' surveys on manufacturing and services sector activity due on T uesday would only add to the gloom and intensify selling pressure on the euro.
With risk aversion back on the rise, the safe-haven U.S. dollar and yen found good support. The dollar also hit a 19-month high against the Swiss franc.
The yen was the biggest gainer. The dollar fell to a seven week low against the yen of 77.95 yen. The dollar last traded down 0.3 percent at 78.19 yen.
Japan's Vice Finance Minister for international affairs was reported as saying the country will not exclude any options when responding to excessive currency moves, although market players said the authorities were unlikely to consider intervening while dollar held above 76 yen.
The Australian currency fell sharply against the dollar and was last down 0.9 percent at $1.0278, with traders saying worries about slower Chinese growth only added to investor risk aversion. (Reporting By Nick Olivari)
Forex: USD/CAD retreats from 1.0204 high - FXStreet.com
While the risk-off sentiment on the euro crisis and economic slowdown puts the oil market under pressure, down by -3.20% on the day (WTI), geopolitical tensions in the Middle East coming from Syria and Iran are keeping the chart away from a wider downside. The correlation between the CAD and energy prices is high.
On the upside, 1.0200 psychological level is resistance against more upside. The 200-day moving average at 1.0107 holds the USD/CAD against the downside.
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