Government report brings down the Australian Dollar

The Australian Dollar fell about a fifth of a cent after data at large this morning show weak building approvals, down by 1.9 percent in December. Weaker than expected data on retail sales was recently released for the same month has also removed any assumption of a possible concern rate rise when the Reserve Bank of Australia (RBA) meets this week. ''The data is all looking a little soft and that's going to weigh on the dollar,'' RBC funds markets senior economist Su-Lin Ong said.''It decreases the possibility that the RBA will move on interest rates representative that the yield degree of difference won't widen much further,'' she said.
In the forex-trading markets this morning, the Australian Dollar bought 77.44 U.S. cents. At midday after the release of the weak building agreement figures, the Australian Dollar dropped to 77.32 U.S. cents, reaching a low of 77.23 U.S. cents.





Australian Trade Deficit reaches U.S$1 Billion



Australian trade deficit has reached 1.04 billion U.S. Dollars or a 52 percent deficit on Thursday as the drought cripples exports and capital imported goods climbed in price. After the release the Australian Dollar showed weakness in the foreign exchange falling to a low of 77.21 U.S. cents. In the foreign exchange yesterday, the Aussie was quoted at 77.29 U.S. cents in comparison to the previous day's trade at 77.47 U.S. cents.

The Australian Dollar is currently under pressure after the release of 'moderate' inflation reports last week. This has helped reduce speculation that the Reserve Bank of Australia (RBA) will increase borrowing rates by another 25 basis points to a 10-year high of 6.5 percent. Last year, the RBA increased interest rates three times during May, August and November due to high rates of inflation, taking it to a six year high of 6.25 percent. Australia currently has the highest interest rate in the world.
Investors will need to wait a week or two for economic reports ahead of a Reserve Bank quarterly statement on monetary policy on February 12.

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Saxo Bank’s online trading platform, SaxoTrader, has been awarded Profit & Loss' Best re-labelling platform for 2010. The Copenhagen-based online trading and investment specialist was voted into the top spot by subscribers to represent "reader's choice".

The award accolades both Saxo Bank’s White Label business as well as the Bank’s trading platform, providing technologies to enable multi-asset trading on a single platform. The Bank's White Label approach is an area of rapid expansion in today's online trading environment which requires speed to market, scale and the diversification of trading platforms.

Saxo Bank has been involved in online trading since 1996. This has given the Bank a first-mover advantage that is particularly strong in the re-labelling area. Today, Saxo Bank has more than 120 re-label clients.

Profit & Loss is a monthly business magazine founded in July 1999. The Profit & Loss Digital Market Awards have been held annually since 2002 to reflect the efforts of the wider Foreign Exchange industry to provide the tools and functionality that make trading FX more efficient. More than 10.000 votes were registered during April and May 2010, making it the largest response to date for the awards.

Types of Forex Expert Advisors

Forex specialist advisor software can be used for many strategy and arithmetical algorithms. They comprise prevarication strategies, martingale, grid and turn around martingale strategies and many others. Sometimes it will be a mixture of few strategy.

There are two dissimilar categories of Forex expert advisors. One is the classic and another is the further highly developed type. Another group comprises of news, hedge, getaway, adaptive and the scalper.

The first type of expert advisors is the news based advisor. This is the prevarication type where it will effort to take gain of the breaking news or the gigantic shifts in dissimilar pairs that will possibly occur during financial news releases.

Scalping expert advisors are limited by many Forex brokers. You may risk the termination of your bank account if this software is used to deal with brokers who do not allow this. However they are the more gainful systems where they will secure small proceeds whenever obtainable according to the trends.

a different type of Forex robot is the escaping Based Expert Advisor where it will start opening a trade when the price of a exacting pair breaks through support and confrontation levels. The evade base type will include any advisors that open two divide and balancing positions while trying to minimize the loss and maximize the profit.

For the adaptive FX expert advisor, it is newer compare to the other program. Being the second generation of advisors, it is more adaptive to various environment and able to answer to dissimilar situation and trends. It is regularly based on the neural network, making them to think alike with human being beings.

Another class is the classic expert advisors that attempt to trade with the recoil of hold up, reversals and confrontation. When there is opportunity of a high chance setup to occur, they will open a arrangement. They usually come with rambling stop, a feature that helps to guarantee profits. They are also predefined to monitor the variety of market conditions for reversals and close your location on time whenever necessary.

The last type of expert advisors is the highly developed expert advisors. They can trade several coinage pairs and all together monitor the timeframes. This sole ability will supply users with various options when choose a movement and doing it physically will simply take you up to few hours of moment.

FOREX Order Types: The different types of FOREX orders

marketplace Order – is an arrange to buy or sell at the present market value. They can be used to enter or exit a trade.

Market orders should be used with care since in dynamic markets there may be a differentiation between the price seen at the time a market order is given and the definite price of the deal. This is due to slippage – the amount the market moves in the few seconds between giving an order and having it executed. Slippage could result in a loss or gain of more than a few pips.

boundary Order – is an order to buy or sell at a sure border. They can be used to buy money below the market price or sell legal tender above the market price. When business, your order is execute when the market falls to your limit order price. When selling, your order is executed when the market rises to your limit order price. There is no slippage with limit orders.

Stop Order – is an categorize to buy above the bazaar or to sell below the bazaar. They are most commonly used as stop-loss orders to edge losses if the market moves different to what the trader predictable. A stop-loss order will sell the currency if the market falls below the point set by the trader.

One cancel the Other (OCO) – this order is used when insertion a edge order and a stop-loss order at the similar time. If also order is execute the other is cancelled, allowing the trader to make a deal without monitoring the market. If the market falls, the stop-loss order will be execute, but if the market rises to the level of the limit order, the cash will be sold at a profit.

· Example OCO Transaction:

Buy: 1 standard lot EUR/USD @ 1.3228 = $132,280
Pip Value: 1 pip = $10
Stop-Loss: 1.3203
Limit: 1.3328

This is an order to buy US dollars at 1.3328 and to sell them if they fall to 1.3203 (resulting in a loss of 25 pips or $250) or to sell them if they rise to 1.3328 (resulting in a profit of 100 pips or $1,000).

· Here's another example:

The current bid/ask price for US dollars and Canadian dollars is

USD/CDN 1.2152/57

...meaning you can buy $1 US for 1.2152 CDN or sell 1.2157 CDN for $1 US.

If you think that the US dollar (USD) is undervalued against the Canadian dollar (CDN) you would buy USD (simultaneously selling CDN) and wait for the US dollar to rise.

This is the transaction: Buy USD: 1 standard lot USD/CDN @ 1.2157 = $121,570 CDN
Pip Value: 1 pip = $10
Stop-Loss: 1.2147
Margin: $1,000 (1%)

You are buying US$100,000 and selling CDN$121,570. Your stop loss order will be executed if the dollar falls below 1.2147, in which case you will lose $100.

However, USD/CDN rises to 1.2192/87. You can now sell $1 US for 1.2192 CDN or sell 1.2187 CDN for $1 US.

Because you entered the transaction by buying US dollars (buying long), you must now sell US dollars and buy back CDN dollars to realize your profit.

You sell US$100,000 at the current USD/CDN rate of 1.2192, and receive 121,920 CDN for which you originally paid CDN$121,570. Your profit is $350 Canadian dollars or US$287.19 (350 divided by the current exchange rate of 1.2187)

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Margin Trading

For trading the main currencies, Saxo Bank requires a 1% margin deposit. This means that in order to trade one million dollars, you need to place just USD 10,000 by way of security. As you can see, this calls for a very disciplined approach to trading as both profit opportunities and potential risks are very large indeed.

Of course many commercial organisations participate purely due to the currency exposures created by their import and export activities, Nevertheless, any investor with the necessary knowledge of the market's functions can benefit from the advantages stated above.