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Saturday, October 10, 2009
An Advanced Forex Trading Platform
Welcome to the CMS Forex Institutional Client Program
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| Risk Disclosure | ©2009 Capital Market Services, LLC. All rights reserved. |
Step 1: Get Started Opening an Account
Sign up for a Personal Account
Apply online for secure expedited processing. Individual Accounts only. For Joint Accounts use a paper application.
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| Applying for a Personal Account? | Applying for an Institutional Account? | Already have an account with CMS Forex? |
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Step 2: Send Us Your Application
Where to Send Documents:
| Fax: | 1-212-563-4994 |
| Email: | account@cmsfx.com Please be sure to put the word APPLICATION in the subject line. |
| Mail: | Capital Market Services LLC New Accounts 350 Fifth Avenue, Suite 6400 New York, NY 10118, USA |
All applicants must submit a copy of a government issued photo ID such as a passport or driver's license with their account application. If your government issued identification does not confirm the home address you indicated in the application, please also submit a utility bill (gas, telephone, cable) or a bank statement as proof of residence.
Dollar Rises Despite Stock Gains
Hans Nilsson2009-10-09
The dollar rose on Friday, supported by Federal Reserve Chairman Ben Bernanke’s comment last night that the Fed will tighten monetary policy “when the economic outlook improves sufficiently.” This is not a big surprise to the financial markets; however, in conjunction with White House economic adviser Larry Summers’ support for the dollar, it helped the US currency today. Summers said “any idea that nations can devalue their way to prosperity is one that economic experience very much belies.”
2009-10-08
The dollar fell on Thursday as better-than-expected initial jobless claims indicated the US economy is slowly improving. The Bank of England and European Central Bank kept the benchmark interest rates at 0.50 percent and 1.00 percent, respectively, showing no signs of changing their monetary policies anytime soon.
2009-10-07
At cycle lows against most major currencies, the dollar found support on Wednesday. The dollar index rose to 76.42 after testing the 76-handle support.
2009-10-06
The dollar fell on Tuesday, pressured by a report that oil producing nations along with Japan, France and China were discussing replacing the USD with a basket of currencies and gold to price oil transactions. The report, although denied by the parties, pressured the greenback in this dollar skeptical environment.
2009-10-05
The dollar fell on Monday as the G-7, not addressing the dollar weakness, just repeated its statement from the previous two meetings that “excessive volatility and disorderly movements” in exchange rates threaten the global stability. The ISM US non-manufacturing index expanded for the first time since August 2008.
2009-10-02
The dollar closed mixed on Friday, unable to penetrate important technical levels. The dollar and risk aversion got a boost after US employment fell more than expected, but pared overnight gains as PIMCO’s Bill Gross said he believes the US wants a weaker dollar and US stocks recovered most of earlier losses.
2009-10-01
The dollar rose on Thursday as risk aversion increased. The S&P 500 dropped 27.23 points to 1,029.85. The treasury 30-year bond yield fell below 4% for the first time since April. US initial jobless claims increased, the ISM US manufacturing PMI declined and inflation remained subdued, casting doubt over the pace of the US economic recovery.
2009-09-30
The dollar fell in volatile trading Wednesday. The S&P 500 declined 3.53 points to 1,057.08 but recovered most of earlier losses incurred on a disappointing Chicago PMI report.
2009-09-29
The dollar traded mostly higher on Tuesday. The dollar index rose and tested the resistance from its long-term downtrend in the 77-78 area. If this is broken, the dollar will rally. US house prices climbed the most since 2005 while consumer confidence unexpectedly fell.
2009-09-28
The dollar traded mostly higher on Monday despite a US equity market rally. Stocks rose for the first day in five. The S&P 500 climbed 18.60 points to 1,062.98. The USD/JPY recovered overnight losses after Japan’s Finance Minister Hirohisa Fujii, who opposes intervening in the currency markets, stated that he is carefully monitoring the strengthening yen and stable currency moves are desirable.
2009-09-25
The dollar closed mixed on Friday, sharply lower versus the yen but higher against the pound. The G-20 leaders said they will keep stimulus measures as long as needed and reduce economic imbalances in trade and savings. The G-20 will also raise banks’ capital requirements and force banks to tie bonuses to long-term performance.
2009-09-24
The dollar gained for a second day as declines in equity and commodity markets increased risk aversion. US economic figures were mixed. August existing home sales unexpectedly decreased, while initial and continuing jobless claims fell to lower-than-expected levels.
Wednesday, October 7, 2009
Foreign Currency Exchange Rate Converter
Since late 90’s, currency conversion has been one of the most popular online services. What’s great about the basic services is that these conversion tools are generally speaking free of charge.
The most popular currency conversion tools currently are:
- XE.com
- FXConverter by OANDA.com
- Yahoo! currency converter
- X-Rates.com
The XE service offers currency conversions for one of the most comprehensive list of currencies, from the U.S. dollar, to Slovakia Korunys and India Rupees.In fact, the site is so popular and easy to use that The Times magazine named the converter tool world’s second most useful website in August, 2003.The rates XE uses are based on live mid-market rates, meaning they are derived from the mid-point between buy and sell rates for a currency pair.
Most Popular Foreign Currency Exchange Rate Converter – FXConverterOANDA, one of the more popular currency related sites, has an online service which offers currency exchange rates. The service is one of the most comprehensive around, with available rates for 164 different currencies around the world.In addition, you can customize the interface language to one of the following:EnglishGermanFrenchItalianPortugueseSpanishSwedish
Most Popular Foreign Currency Exchange Rate Converter – YahooYahoo, as part of its uniquely wide financial online services, offers currency conversion tool. The tool is very simple to use, you just choose currencies, the the amount to convert.The output is a current conversion rate, plus you get a graphical chart of the currency’s recent (past few month’s) development in the interbank market.
Most Popular Foreign Currency Exchange Rate Converter – X-RatesThis exchange conversion offers several easy to use tools. For one, you can get FX rate conversion results on a table format against major world currencies. You can also find graphs of the most popular currency pairs with a few clicks of the mouse.The site also features historical rates as far back as 1990.
Austraila Forex
The foreign exchange market (Currency, Forex, or FX) market is where currency trading takes place. It is where banks and other official institutions facilitate the buying and selling of foreign currencies. FX transactions typically involve one party purchasing a quantity of one currency in exchange for paying a quantity of another. The foreign exchange market that we see today started evolving during the 1970s when worldover countries gradually switched to floating exchange rate from their erstwhile exchange rate regime, which remained fixed as per theBretton Woods system till 1971.Today, the FX market is one of the largest and most liquid financial markets in the world, and includes trading between large banks, central banks, currency speculators, corporations,governments, and other institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Traditional daily turnover was reported to be over US$3.2 trillion in April 2007 by theBank for International Settlements.Since then, the market has continued to grow. According to Euromoney's annual FX Poll, volumes grew a further 41% between 2007 and 2008.The purpose of FX market is to facilitate trade and investment. The need for a foreign exchange market arises because of the presence of multifarious international currencies such as US Dollar, Pound Sterling, etc., and the need for trading in such currencies.
Today's Currency World
Each time, currencies have come away with a newly earned respect by the masses. There has also been a constant element of surprise that keeps you guessing what's next.
Current conditions, such as the United States' perpetual war on “terror”, the permanent introduction and dominance of the euro currency, the steady O.P.E.C. increases in oil prices, and gold's renaissance as a store of value, will likely have a tremendous impact on the future of what it means to trade currencies.
This could be a fundamental shift in the next phase of currency development.
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