European Central Bank left its main policy rate unchanged at 1 per cent ? the lowest ever. They did not rule out the possibility of a further cut, but financial markets observers believe it could be a year before ECB rates change, and not necessarily another cut.The ECB did put pressure on eurozone commercial banks to kick-start lending to business and consumers, as it made clear official interest rates could remain at the current record low for a protracted period. It urged banks to live up to their responsibilities in reviving credit flows. Central Bank declared it was happy with last week?s results of its first injection of unlimited one-year liquidity, which saw it injecting over 400 Billion Euros into the eurozone banking system. ECB's statement said the initiative was now lying with the banks to ensure the funds were used to boost economic growth prospects.
End of June is an important check point in annual performance. Both of our services had very good marks for both month and the year. We updated our detailed results pages through Friday. Last week's gains are shown below.
(Sunday 07.05.2009.)
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Here are the results for last week:
- Daily Pound gained 185 pips ;
- Daily Euro made 61 pips;
Follow the link on the right to view details.
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Last week's results.
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With summer season starting about now, markets are expected to behave a little more erratic fashion. Something that is referred to as "summer slow down". This could have been why our USD-CAD trade from last week didn't happen. Price never came close to our sell order at 1.1410. This order remains valid.
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We mentioned possible "summer slowdown" earlier on, but is not going to slow us down. We are as always committed to finding good trades and we hope this trend will continue through summer.
For this week we are staying with Canadian Dollar, but move to another pair. Spotlight is on EUR-CAD and we want to sell it. Our order is set at 1.6158. If initiated, we should see price fall to 1.6060 in a reasonably short time.
We wish everybody great trading week!
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Once again we must stress that the trades highlighted here are only a small sample of our trades. If you have any comments or would like to obtain more information please contact us at info@spectrumforex.com .
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Risk disclaimer:
Substantial risk is involved. Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex markets. Don't trade with money you can't afford to lose. Nothing in our website shall be deemed a solicitation or an offer to Buy/Sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of futures results. Trading involves high risks and you can lose a lot of money.
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