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Weekly Forex News February 17th
                  2013
FCTOFX: Much volatility was seen in the Japanese yen last week on talk of a
so called "currency war" and on concern that the expansive policies that
drove down the the currency would be criticized by the G7 and G20 leaders.
The G7 statement released in the early part of the week and subsequent
comments from officials confused the markets. But in the end there was
some steep selloff in yen late Friday on news that the depreciation of the
Japanese currency won't be singled out. Indeed, Japan escaped from criticism
by the G20 statement which ended with a pledge to refrain from competitive
currency devaluation. The yen's downtrend is now set to resume this week
as this uncertainty is cleared. Meanwhile the Euro extended its correction
last week as data showed a deepening recession in the Eurozone and as
traders lightened up positions ahead of elections in Italy. The Sterling also
weakened broadly after a dovish Bank of England quarterly inflation report.
The New Zealand dollar was surprisingly the strongest currency last week
after some positive economic data.
                  View FCTOFX Live Trading @ http://bit.ly/W9RJWK
Weekly Forex News February 17th
                  2013
From a technical point of view the Euro's correction against the dollar seems
incomplete and it also faced some difficulty in resuming a recent rally against
the Sterling and Aussie. However as the euro's correction has lasted for two
weeks already there shouldn't be much room for a further downside. And
based on these two contradicting facts we'd avoid Euro this week. The
uncertain near term outlook in the euro also makes us prefer to avoid the
Sterling and Swissy. Meanwhile commodity currencies were mixed: while the
New Zealand dollar was strong, Friday's sharp selloff showed signs of near
term topping. The Australian Dollar is still bearish but there wasn't any
convincing sign of steep fall ahead. Nonetheless the Canadian dollar looks set
to accelerate its decline against the US dollar. And as mentioned above we
do believe there's a high chance for yen to resume its down trend this week
as the G20 uncertainty was cleared.


                  View FCTOFX Live Trading @ http://bit.ly/W9RJWK
Weekly Forex News February 17th
                  2013
After a two-day meeting in Moscow the G20 leaders agreed to a joint
statement with promise that they would refrain from competitive
devaluation" and "resist all forms of protectionism to keep our markets
open." Meanwhile, they also pledged that "advanced economies will develop
credible medium-term fiscal strategies". The Japanese Yen was not singled
out in the statement and suggesting Japan is given a greenlight continue its
expansive policies. The statement was not much different to the G7
statement released earlier in the week stating that G7 policies "will remain
oriented towards meeting our respective domestic objectives using domestic
instruments, and that we will not target exchange rates."




                 View FCTOFX Live Trading @ http://bit.ly/W9RJWK
Weekly Forex News February 17th
                  2013
Japan was the major focus last week. In addition to G7 and G20 talks Japan
also released it's Q4 GDP figures. Japan's G-D-P unexpectedly contracted
0.1% quarter on quarter in Q4, versus consensus expectation of a 0.1%
quarter on quarter growth. That's the third straight quarter of contraction
even though it improved from Q3's 1% quarter on quarter drop. Japan is still
in a mild recession and the 0.6% quarter on quarter fall in deflator indicates
that Japan is still staying in deflation. The data should strength the case for
prime minister Abe to push for more monetary stimulus to end deflation and
boost recovery. The Bank of Japan left rates unchanged at 0 to 0.1% on an
unanimous vote as widely expected. The stimulus programs were also left
unchanged. The central bank noted that "Japan's economy appears to have
stopped weakening" and the pace of export decline has slowed as
international "investors' risk aversion has abated" and the global economy
has shown "signs of picking up".

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Weekly Forex News February 17th
                  2013
The Japanese economy is expected to "level off more or less for the time
being". CPI is expected to "turn negative" due to a reversal of energy prices
but would then be back around 0% again. The Bank of Japan pledged to
"pursue an aggressive monetary easing" but emphasized that it aims to
"achieve price stability on a sustainable basis", that is achieving it's 2%
inflation target at the earliest possible time. Talking about the Bank of Japan,
it's reported that prime minister Abe is close to making a decisions on the
next Central Bank head, who will replace Shirakawa on March 19th. Former
Bank of Japan deputy governors Toshiro Muto is being reported as the front-
runner and he's considered by the markets as the least dovish candidate.




                  View FCTOFX Live Trading @ http://bit.ly/W9RJWK
Weekly Forex News February 17th
                  2013
In the Eurozone, Q4 GDP contracted by 0.6% quarter on quarter versus
expectation of a 0.4% drop. That's also the third consecutive quarter of
contraction and the situation was even worse considering that the best of
the last five quarters of 0% growth was back in Q1 of 2012. And Q4 was also
the worst quarter since Q1 of 2009. More worrying was that Germany,
France, and Italy all recorded disappointing results. Germany's economy
contracted 0.6% quarter on quarter compared to expectation of a 0.5% drop.
France contracted 0.3% quarter on quarter versus expectation of a 0.2%
contraction. Italy contacted for the sixth quarter by 0.9% quarter on quarter
compared to expectation of a 0.5% contraction.




                  View FCTOFX Live Trading @ http://bit.ly/W9RJWK
Weekly Forex News February 17th
                  2013
In the UK, the Bank of England's quarterly inflation reported showed that
policymakers are ready to tolerate higher inflation to boost economic
recovery. While the Bank of England expects the UK to have "slow but
sustained recovery" this year the growth projection for the year to the 1st
Quarter of 2014 was revised to 1.7%, down from the prior projection of 2%.
The economy is expected to be back to the pre-crisis level by 2015.
Meanwhile, inflation is expected to stay above the central bank's target of
2% until at least the end of 2015, and will peak at 2.3% in the second half of
2013. However, the Monetary Policy Committee emphasized that "as long as
domestic cost and price pressures remained consistent with inflation
returning to the target in the medium term, it was appropriate to look
through the temporary, albeit protracted, period of above-target inflation."




                  View FCTOFX Live Trading @ http://bit.ly/W9RJWK
Weekly Forex News February 17th
                  2013
And, "attempting to bring inflation back to the target sooner by removing the
current policy stimulus more quickly than currently anticipated by financial
markets would risk derailing the recovery and undershooting the inflation
target in the medium term." Inflation data from the U-K saw CPI unchanged
at 2.7% year on year in January versus expectation of a rise to 2.8% year on
year. Core CPI moderated to 2.3% year on year, down from 2.4% year on year
in December. PPI input jumped to 1.8% year on year, PPI output dropped to
2% year on year and PPI core output dropped to 1.4% year on year.




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Weekly Forex News February 17th
                  2013
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Weekly Forex News February 17th
                  2013
The new retail forex trading offering from Forex Currency Trading Online
Ltd., www.FCTOFX.com, has been developed out of the retail customer’s
desire to profit from managed Forex trading, without having their capital
held, managed and controlled by an unknown or unregulated third-party.

Our Forex trading software is fully adaptable to suit your risk profile, with
daily weekly and monthly maximum drawdowns set from just 1% to 25%. We
currently have 18 co-existing strategies, trading over 17 currency pairs,
across all 3 trading sessions. This software system is designed to be fully
automated, however is manually monitored 24 hours a day, being upgraded
and modified to take full advantage of changing market conditions.

                 For More Information: www.FCTOFX.com

                  View FCTOFX Live Trading @ http://bit.ly/W9RJWK

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Weekly Forex News February 17th 2013

  • 1. Weekly Forex News February 17th 2013 FCTOFX: Much volatility was seen in the Japanese yen last week on talk of a so called "currency war" and on concern that the expansive policies that drove down the the currency would be criticized by the G7 and G20 leaders. The G7 statement released in the early part of the week and subsequent comments from officials confused the markets. But in the end there was some steep selloff in yen late Friday on news that the depreciation of the Japanese currency won't be singled out. Indeed, Japan escaped from criticism by the G20 statement which ended with a pledge to refrain from competitive currency devaluation. The yen's downtrend is now set to resume this week as this uncertainty is cleared. Meanwhile the Euro extended its correction last week as data showed a deepening recession in the Eurozone and as traders lightened up positions ahead of elections in Italy. The Sterling also weakened broadly after a dovish Bank of England quarterly inflation report. The New Zealand dollar was surprisingly the strongest currency last week after some positive economic data. View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  • 2. Weekly Forex News February 17th 2013 From a technical point of view the Euro's correction against the dollar seems incomplete and it also faced some difficulty in resuming a recent rally against the Sterling and Aussie. However as the euro's correction has lasted for two weeks already there shouldn't be much room for a further downside. And based on these two contradicting facts we'd avoid Euro this week. The uncertain near term outlook in the euro also makes us prefer to avoid the Sterling and Swissy. Meanwhile commodity currencies were mixed: while the New Zealand dollar was strong, Friday's sharp selloff showed signs of near term topping. The Australian Dollar is still bearish but there wasn't any convincing sign of steep fall ahead. Nonetheless the Canadian dollar looks set to accelerate its decline against the US dollar. And as mentioned above we do believe there's a high chance for yen to resume its down trend this week as the G20 uncertainty was cleared. View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  • 3. Weekly Forex News February 17th 2013 After a two-day meeting in Moscow the G20 leaders agreed to a joint statement with promise that they would refrain from competitive devaluation" and "resist all forms of protectionism to keep our markets open." Meanwhile, they also pledged that "advanced economies will develop credible medium-term fiscal strategies". The Japanese Yen was not singled out in the statement and suggesting Japan is given a greenlight continue its expansive policies. The statement was not much different to the G7 statement released earlier in the week stating that G7 policies "will remain oriented towards meeting our respective domestic objectives using domestic instruments, and that we will not target exchange rates." View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  • 4. Weekly Forex News February 17th 2013 Japan was the major focus last week. In addition to G7 and G20 talks Japan also released it's Q4 GDP figures. Japan's G-D-P unexpectedly contracted 0.1% quarter on quarter in Q4, versus consensus expectation of a 0.1% quarter on quarter growth. That's the third straight quarter of contraction even though it improved from Q3's 1% quarter on quarter drop. Japan is still in a mild recession and the 0.6% quarter on quarter fall in deflator indicates that Japan is still staying in deflation. The data should strength the case for prime minister Abe to push for more monetary stimulus to end deflation and boost recovery. The Bank of Japan left rates unchanged at 0 to 0.1% on an unanimous vote as widely expected. The stimulus programs were also left unchanged. The central bank noted that "Japan's economy appears to have stopped weakening" and the pace of export decline has slowed as international "investors' risk aversion has abated" and the global economy has shown "signs of picking up". View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  • 5. Weekly Forex News February 17th 2013 The Japanese economy is expected to "level off more or less for the time being". CPI is expected to "turn negative" due to a reversal of energy prices but would then be back around 0% again. The Bank of Japan pledged to "pursue an aggressive monetary easing" but emphasized that it aims to "achieve price stability on a sustainable basis", that is achieving it's 2% inflation target at the earliest possible time. Talking about the Bank of Japan, it's reported that prime minister Abe is close to making a decisions on the next Central Bank head, who will replace Shirakawa on March 19th. Former Bank of Japan deputy governors Toshiro Muto is being reported as the front- runner and he's considered by the markets as the least dovish candidate. View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  • 6. Weekly Forex News February 17th 2013 In the Eurozone, Q4 GDP contracted by 0.6% quarter on quarter versus expectation of a 0.4% drop. That's also the third consecutive quarter of contraction and the situation was even worse considering that the best of the last five quarters of 0% growth was back in Q1 of 2012. And Q4 was also the worst quarter since Q1 of 2009. More worrying was that Germany, France, and Italy all recorded disappointing results. Germany's economy contracted 0.6% quarter on quarter compared to expectation of a 0.5% drop. France contracted 0.3% quarter on quarter versus expectation of a 0.2% contraction. Italy contacted for the sixth quarter by 0.9% quarter on quarter compared to expectation of a 0.5% contraction. View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  • 7. Weekly Forex News February 17th 2013 In the UK, the Bank of England's quarterly inflation reported showed that policymakers are ready to tolerate higher inflation to boost economic recovery. While the Bank of England expects the UK to have "slow but sustained recovery" this year the growth projection for the year to the 1st Quarter of 2014 was revised to 1.7%, down from the prior projection of 2%. The economy is expected to be back to the pre-crisis level by 2015. Meanwhile, inflation is expected to stay above the central bank's target of 2% until at least the end of 2015, and will peak at 2.3% in the second half of 2013. However, the Monetary Policy Committee emphasized that "as long as domestic cost and price pressures remained consistent with inflation returning to the target in the medium term, it was appropriate to look through the temporary, albeit protracted, period of above-target inflation." View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  • 8. Weekly Forex News February 17th 2013 And, "attempting to bring inflation back to the target sooner by removing the current policy stimulus more quickly than currently anticipated by financial markets would risk derailing the recovery and undershooting the inflation target in the medium term." Inflation data from the U-K saw CPI unchanged at 2.7% year on year in January versus expectation of a rise to 2.8% year on year. Core CPI moderated to 2.3% year on year, down from 2.4% year on year in December. PPI input jumped to 1.8% year on year, PPI output dropped to 2% year on year and PPI core output dropped to 1.4% year on year. View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  • 9. Weekly Forex News February 17th 2013 The new retail forex trading offering from Forex Currency Trading Online Ltd., www.FCTOFX.com, has been developed out of the retail customer’s desire to profit from managed Forex trading, without having their capital held, managed and controlled by an unknown or unregulated third-party. Our Forex trading software is fully adaptable to suit your risk profile, with daily weekly and monthly maximum drawdowns set from just 1% to 25%. We currently have 18 co-existing strategies, trading over 17 currency pairs, across all 3 trading sessions. This software system is designed to be fully automated, however is manually monitored 24 hours a day, being upgraded and modified to take full advantage of changing market conditions. For More Information: www.FCTOFX.com View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  • 10. Weekly Forex News February 17th 2013 The new retail forex trading offering from Forex Currency Trading Online Ltd., www.FCTOFX.com, has been developed out of the retail customer’s desire to profit from managed Forex trading, without having their capital held, managed and controlled by an unknown or unregulated third-party. Our Forex trading software is fully adaptable to suit your risk profile, with daily weekly and monthly maximum drawdowns set from just 1% to 25%. We currently have 18 co-existing strategies, trading over 17 currency pairs, across all 3 trading sessions. This software system is designed to be fully automated, however is manually monitored 24 hours a day, being upgraded and modified to take full advantage of changing market conditions. For More Information: www.FCTOFX.com View FCTOFX Live Trading @ http://bit.ly/W9RJWK