EUR/USD Rises as Manufacturing ISM Grows

February 2nd, 2009

EUR/USD advanced today after the weekly opening gap and even rose above the Friday’s close level. Some of the fundamental reports in U.S. were slightly better than the traders have expected, so the currency markets reacted with the growing high-yielders. EUR/USD is currently trading near 1.2838.

Personal income decreased by 0.2% in December after falling by 0.4% in November. Personal spending declined by 1% in December following 0.8% drop in November. The forecasts for the today’s report were at 0.4% and 0.9% drops respectively.

Construction spending fell by 1.4% in December compared to the month of November after decreasing by 1.2% a month before (revised down from 0.6% decline).

Manufacturing ISM index (PMI) rose from 32.9% (revised up from 32.4%) to 35.6% in January. The analysts expected it to decline to 32.0% last month.

Tags: construction spending, fundamental analysis, ISM PMI, personal income

18 Trading Champions Share Their Keys to Top Trading Profits

February 1st, 2009

New ebook was added to the trader’s library on my site today — it’s 18 Trading Champions Share Their Keys to Top Trading Profits by FWN (Financial World News). The book offers 18 success stories of the famous professional traders of the 20th century. The list of the eighteen includes such well known-traders as Tom DeMark, Cynthia Kase, Linda Bradford Raschke and Larry Williams. Each of the success stories is concluded with an advice to the beginning traders. The ebooks is rather small — only 20 pages of which only 18 contain the real text — so each of the «trading champions» receives only one page. You won’t find any specific strategies or a «holly grail»-worth advice in this book, but it will certainly make your entry into the world of Forex much easier.