currency, oil, gold briefly

Week was bad for the euro may be even worse next week if you do not allow the Greek parliament a package of measures to stress. Have led to concerns about Greece fall of the euro against the dollar for three consecutive sessions, pushing the single currency fell by 0.9% for the week and by 1.6% during the month. Euro closed at 1.4220 dollars, and closed at 114.12 Japanese yen.
· Turn the pound sterling on Friday towards the losses against the dollar for the third day in a row, have expectations about cash incentives to encourage dealers to lift the centers of the bullish trend as all the bounce attract more sellers. Pound closed at 1.6015 dollars, the euro has closed at 0.8875 pounds. 
· Canadian dollar fell on Friday to its lowest level in more than a week against the U.S. dollar continued its losses, which began in the middle of the week following the aggravated concerns about the debt problems of the euro area.
· Brent crude prices fell on Friday during intermittent dealings with the European debt problems led to the revival of the dollar index and oil continued to decline for the next day after it announced the consuming countries use strategic reserves.
· Price of gold fell sharply on Friday for the second straight session and reached its lowest level in a month, where concerns have led Greece to the rise of the dollar and pressure on the stock markets and commodities. gold closed at 1514.50 dollars

Forex Trading Benefits

Advantages of Trading with FXCM

Forex Execution Center

FXCM's No Dealing Desk Forex Execution aims to provide transparent and fair execution. Every trade is executed back to back with one of multiple liquidity providers,§ which compete to provide FXCM with bid and ask prices. The best spreads available to FXCM are streamed to you with a small markup, which is generally one pip for major currency pairs.

Lower Spreads

• Euro/U.S. dollar spread is frequently 2.6 pips, British pound/dollar 3 pips
• Trade on rates provided to FXCM by multiple liquidity providers
• FXCM's average monthly trading volume drives price competition
• Fractional pip pricing facilitates the tightening of spreads even further

No Dealing Desk Execution

• No conflict of interest between broker and trader
• No dealer intervention in trades
• Liquidity providers do not see your stops, limits, and entry orders
• Competition reduces the potential for market manipulation by price providers

No Trading Restrictions*

• Trade during breaking news
• Place entry orders anywhere—even inside the spread
• Scalp the market
• Rollover transparency—all amounts are displayed in advance
• Receive positive rolls at all margin levels

Facts about FXCM, Inc. (“FXCM”)

Due to the average notional trading volume that FXCM generates, FXCM has obtained close relationships with some of the most aggressive price providers. Having multiple price providers is especially important in volatile markets, when one or two liquidity providers may post wide spreads, or simply avoid quoting any price at all. With multiple liquidity providers quoting prices to FXCM, there are competitive spreads, even during market-moving news events.
FXCM does not take a market position—eliminating a major conflict of interest. A dealing desk broker, which acts as a market maker, may be trading against your position. However, with our No Dealing Desk Forex execution, we fill your orders from the best prices available to us from the liquidity providers. These prices include our mark-up, which may vary based on account type and liquidity provider. While an individual liquidity provider may try to skew its prices off the market, the unattractive price on the bid or ask side will lose the price competition and as a result, not factor into the prices streamed to you. At FXCM, prices are not subject to manipulation by a broker or a liquidity providers dealing desk.
While our competitors are beginning to follow our example of offering No Dealing Desk Forex execution, we have successfully implemented it. Excellent bid and ask prices are not meaningful unless you have a reliable trading platform to execute trades. Our trading platform is tested in all market conditions.
FXCM aims to provide clients with the best pricing available and to get all orders filled at the requested rate. However, there are times when, due to an increase in volatility or volume, orders may be subject to slippage. Read more

How to Use Currencies to Trade Gold

Want to take a position on gold without trading the yellow metal itself? Here's a way to get the same results by trading currencies.

"A lot of the time when you think of a currency to trade a commodity, you look for the country that exports a lot of that commodity," said Rebecca Patterson, global head of currencies and commodities for J.P. Morgan's private bank.

But that is not always the best approach, Patterson said. For example, South Africa is a major gold exporter, but Patterson says the currency is too volatile and the South African economy too uncertain. The good news is you can find other currency-based ways to "trade" gold, she told CNBC's Melissa Lee.

The key is considering why you want to buy it.

If gold is an inflation hedge for you, "the Australian dollar, [AUD=X  1.0242    0.0076  (+0.75%)   ] even the Canadian dollar [CAD=X  0.9887    -0.0057  (-0.57%)   ] might work," Patterson said.

But if you are buying gold for risk aversion, Patterson said, "Go with the Swiss franc."[EURCHF=X  1.0336    0.0032  (+0.31%)   ] 

She likes the fundamentals in Switzerland, and she says the Swiss franc "has had almost a 90% daily correlation with gold against the euro for the last two years."

The trade Patterson recommends is buying the Swiss franc and selling the euro at current levels, with a stop about 1% above current levels and a target of 2% below.

Todd Gordon, co-head of research and trading at Aspen Trading Group, concurred on a technical basis. He noted five waves in the Swiss franc/euro price pattern, and called current levels of Swiss franc/euro "a great entry point."

SLAPPA KIKEN Laptop Bag

SLAPPA KIKEN Laptop Bag

A seriously kick-ass bag for your serious gear

I knew the minute that I unboxed the SLAPPA KIKEN laptop bag that it was a pretty bad-ass piece of business. Puncture-proof ballistic nylon - customizable front flap options - checkpoint friendly AND roomy enough for a 17" laptop? It was enough to make me yell "KIKEN!" and karate chop things. And I did! Good thing only the dog was watching.

First, let's talk aesthetics: thanks to SLAPPA's patent pending M.A.S.K. technology, you have a choice of flaps to customize the look (and functionality) of your bag. SLAPPA sent me three to try out and they easily zip on and off. (Think Karate Kid style: Flap on. Flap off.) I'm a fan of the Lime Blast (I likes a punch of colour). The monochrome P-Tac Matrix flap is very cool looking, and there is also a woven flap called Jedi Mind Trix, which has velcro straps to let you carry more gear (including a yoga mat, if that's your thing. Jedis love the yoga). Note: you can see pics of these flaps in action over on Flickr.

Now for functionality: Just under the front flap are three very large rectangular, zippered compartments. When you're on a trip and making a presentation, you'll be able to fit all you need to connect your laptop to their projector and to a power source. External drives, powerbricks, adapters, and cords have roomy compartments and won't be mingling with your socks and underwear. The hardware on this bag is, like the bag overall, well-made and sturdy.


The interior of the bag is comprised of two clamshells that open completely for security-friendly scanning. One of the smartest features of the bag are the velcro flaps. When you want to open the clamshell compartments fully, unvelcro the sides - when you want to use the compartments as pockets, just secure the sides again. KIKEN!

The large shell storage section in the front of the bag will easily handle reading material, a few days' worth of clothes and your toiletries. A row of storage pockets provides organization to tuck away electronic accessories. Great detail: all of the lining is red so you easily locate items in bag.

The shell in the rear of the bag has a cushioned compartment that protects a laptop up to 17" (and SLAPPA notes that it'll fit Alienware m17X). This compartment faces a large zippered pocket, perfect for stashing work documents. Going through airport security, you just open this clamshell to scan. Everything is secured. Nothing's falling out.

The bag can carry a lot, so it's heavy when packed. Wearing the strap across the body is crucial. The adjustable shoulder strap, with its comfy shoulder pad, extends to approximately 51" from hardware to hardware at its max. If you are tall or have a sturdy build, the bag may sit a bit high on your body. To mitigate that, however, is the signature SLAPPA cushioned hand logo on the back of the bag, which keeps your heavy gear from bruising your hip or side.

Also, because this bag is meant to keep your tech gear safe, there aren't any easy access pockets anywhere on the exterior. Not great for getting to your passport or wallet quickly when travelling - but hey, if you can't get to them easily, neither can thieves. KIKEN!

All in all, if you are searching for a bag that will handle your tech gear, your overnight clothes and your monster laptop, consider the SLAPPA KIKEN customizable laptop bag. The kick-ass KIKEN retails for $129.99 over at SLAPPA.CA or SLAPPA.COM.

EXCHANGE RATES (AED)

EXCHANGE RATES (AED)
Aug 4, 2011
CURRENCY	UAE		QATAR		OMAN
	BUY	SELL	BUY	SELL	BUY	SELL
Dollar	3.653	3.685	3.6298	3.6502	0.3815	0.388
Euro	5.12416	5.33059	5.1023	5.2895	0.5428	0.552
Sterling	5.88124	6.10821	5.8382	6.0211	0.622	0.6327
Swiss Fr.	4.70111	4.91362	4.682	4.8419	0.5023	0.5078
Yen	0.04658	0.04888	0.0462	0.0484	0.00497	0.00503
D.K.	0.68953	0.7172	0.68	0.7162	0.0731	0.0744
Swd. Kr.	0.5644	0.58653	0.5623	0.5859	0.0598	0.0608
Can.$	3.76843	3.903	3.7424	3.8938	0.3982	0.4047
Aus.$	3.88356	4.08499	3.8517	3.9981	0.4104	0.4176
N.Z.$	3.11677	3.24754	—	—	0.3305	0.3357
H.K.$	0.46404	0.47818	0.4545	0.4804	0.0489	0.0496
Sing$	2.98307	3.11636	2.9832	3.0983	0.3171	0.3212
Mal.R	1.22211	1.24541	1.2236	1.2251	—	—
Jord.D	5.12428	5.24911	5.0903	5.2663	0.538	0.552
Ind.Rs	0.08062	0.08458	0.0808	0.0847	0.00864	0.00875
Pak.Rs	0.04159	0.04352	0.0418	0.0429	0.00431	0.0045
SL.Rs	0.03286	0.0341	—	—	0.00332	0.00372
P.Peso	0.0853	0.08834	—	—	—	—
Cyp.£	9.13768	9.32427	9.1495	9.161	—	—
B.Taka	0.04822	0.04993	—	—	0.00495	0.00519
GULF CURRENCIES
UAE Dh	—	—	0.985	0.998	0.1043	0.1057
BD	9.5738	9.9137	9.5475	9.7784	1.013	1.029
SR	0.9625	0.9972	0.9657	0.9806	0.1022	0.1033
QR	0.9947	1.0209	—	—	0.105	0.1063
RO	9.4077	9.6512	9.3553	9.5789	—	—
KD	13.2281	13.7075	13.1833	13.5498	1.4035	1.4225
Rates supplied by Emirates Bank Intl, Dubai, HSBC Bank Middle East, Doha and National Bank of Oman, Muscat

China blasts US over debt problems

China blasts US over debt problems

(Reuters)

6 August 2011

SHANGHAI - China roundly condemned the United States for its ‘debt addiction’ and ‘short sighted’ political wrangling and said the world needed a new stable global reserve currency. In a harshly-worded commentary by the official Xinhua news agency on Saturday, China gave its first official comments on the United States losing its gilded AAA long-term credit rating from Standard & Poor’s. ‘China, the largest creditor of the world’s sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China’s dollar assets,’ Xinhua said. China also urged the United States to apply ‘common sense’ to ‘cure its addiction to debts’ by cutting military and social welfare expenditure. ‘The US government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone,’ Xinhua wrote. China also said further credit downgrades would very likely undermine the world economic recovery and trigger fresh rounds of financial turmoil. ‘International supervision over the issue of US dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country,’ Xinhua said. Chinese economists said the US credit rating downgrade posed a great risk to financial markets and they expected it to prompt China, the world’s biggest holder of US Treasuries, to accelerate the diversification of its holdings. S&P cut the United States’ rating to AA-plus on concerns over the government’s budget deficits and rising debt burden. The move is likely to raise borrowing costs eventually for the US government, companies and consumers. ‘There would be chaos in international financial markets at least in the short term. The most direct impact for China would be the hit on its reserves. The value of China’s dollar investments will fall and the shrinking effect may be great,’ said Li Jie, a director at the Reserves Research Institute at the Central University of Finance and Economics. Earlier this week, China had urged Washington to act responsibly to deal with its debt issues, saying uncertainty in the US Treasuries market will undermine the global monetary system and hamper global growth. Beijing has repeatedly urged Washington to protect its dollar investments, estimated by analysts to account for about two-thirds of its $3.2 trillion in foreign exchange reserves, the world’s largest. ‘China will be forced to consider other investments for its reserves. US Treasuries aren’t as safe anymore. There is a class of assets out there that are more risky than AAA, but less risky than AA+. China didn’t consider these investments before, but now it would be forced to do so,’ Li said. Earlier this week, the United States narrowly avoided a default after lawmakers from across the political divide came together to hammer out a deal that would raise the country’s borrowing authority after weeks of rancorous partisan battles. S&P’s downgrade may also push the United States to ease monetary policy further, causing even more uncertainty in global markets, said Ding Yifan, a deputy director at the Development Research Centre, a think tank under the State Council. ‘I think the chance of the United States launching another round of quantitative easing is rising, as outside investors may try to avoid dollar assets, leaving the Fed with no choice but to buy their own Treasuries,’ Ding said. ‘If the United States really introduces QE3, it will definitely add more uncertainties to the global economy and could push up the prices of global commodities,’ he added. The US Federal Reserve holds its next policy-setting meeting on Tuesday. Economists see little chance that the Fed will announce another round of bond purchases then.