Gold Rates

Gold Rates in other Major Currencies

Currency              Symbol   10Gm    1Tola     1Ounce
Australian Dollar      AUD          407           474            1,265
Canadian Dollar       CAD          397           462            1,233
Euro                            EUR           251          292          780
Japanese Yen          JPY         33,289       38,787        103,542
Pakistan Rupee        PKR         31,266       36,430         97,250
U.A.E Dirham           AED         1,376       1,603            4,280
UK Pound Sterling     GBP          226          263               703

Guide to Forex

STOP

The signs of the road are easy to read. No matter 
where you are in the world, chances are pretty good 
that you’d know what to do at a red octagonal sign 
or a green light. We combined forex learning 

with the rules of the road to give you a fun and 
easy way to learn the basics 

of forex trading. Driving a car can be exciting, 
fun and, if you’re not doing it properly, very 
dangerous. Just like forex trading.If you’re ready to learn, 
have a seat, fasten your belt and enjoy our Forex Ed lessons.

HOW THE ROAD WAS PAVED

Today’s forex market was formed in the early 1970’s. The first major  step in the formation of the market was the Bretton Woods Accord, which was established after World War II to restore the world’s  economic state. The Bretton Woods Accord decided that all major  currencies would be pegged to the U.S. dollar, which was pegged  to gold at a price of $35 per ounce. Under these standards, the  major global currencies pegged to the U.S. dollar were only able  to fluctuate by one percent.  The European nations sought to move away from their dependency of the dollar in the 1970’s, thus forming the Smithsonian Agreement  and the European Joint Float. Each agreement was similar to the  Bretton Woods Accord, but allowed a greater range of fluctuation  in the currency values. However, both agreements failed, paving  the way for the free-floating systems. There were no longer pegs  on currencies, and therefore currencies were able to fluctuate freely.   Traders utilize these fluctuations on the forex market. By studying price changes and current events, a forex trader can buy or sell one currency against another in hopes of making a profit off of the price fluctuations .  TOOLS Our Future Lessons  An Introduction to Forex

THE BASIC MECHANICS BEHIND A TRADE

Before you can steer your forex career in a profitable direction,  you need to know some market basics.   Trading Hours  The Forex market is a global entity.  Market hours overlap one another,  ensuring that there’s always an open  market. Traders can make trades 24  hours a day, 5 days a week. The  market closes on Fridays at  21:00 GMT and reopens on  Sundays at 21:00 GMT. TOOLS Trading Hours  Trading Pairs A trading pair consists of a base  currency and a quote currency.  The first currency listed in the  pair is the base currency,  while the second currency is the  quote currency. Traders buy or  sell the base currency using the  quote currency.Let’s take a look  at this pair:  EUR/USD  In the trading pair above, the Euro is the base currency and the  United States Dollar is the quote currency. If you are trading with  the EUR/USD, you’d be purchasing or selling the Euro using the  United States Dollar. TOOLS Trading Pairs  Leverage Leverage is a big part of Forex  trading. Leverage is a loan  given to a trader by a broker  to intensify that trader’s results.  Calculating leverage is simple.  All you have to do is multiply  the leverage by how much you  wish to trade. A leverage of  100:1 means that the broker will   match every 1 dollar you  trade with 100 dollars.  A leverage of 20:1 means  that every 1 dollar you trade will be matched by 20 dollars,  etc. For example,  if you sign up with Forex Club’s minimal balance of $10  and trade with a leverage of 100:1, that means that you can  trade ($100x10=) $1,000. TOOLS Leverage

HOW TO GET THERE SAFELY

KEEPING YOUR EYES ON THE ROAD

LOOK 

Yellow means look. Take a look around 

and see why 

Forex Club’s platforms and advantages are unique 

and beneficial to you.

SIGN UP FOR FOREX ED CLASSES

RIDE WITH COMFORT

TRADE WITH THE BEST SAFETY FEATURES

TRADE
The light’s green! It’s time for you to put the pedal 

to the metal and get en route to your forex career.

THE VEHICLES

FUELING YOUR RIDE

ALL THE DIRECTION YOU NEED

GETTING YOURSELF A SYSTEM

Forex: USD/JPY rises above 89.30

FXstreet.com (Córdoba) – The Dollar is rising against the Yen and recently broke above 89.30 and rose to 89.43, posting a fresh intra-day high. In case of further appreciation, next resistance levels will be 89.55 (Nov 17 high) and above here, 89.75 (Nov 16 high). USD/JPY trades at 89.37/40, 0.15% above today’s opening price, near the highs suggesting that it could continue rising during the American session. 

The FastBrokers Research Team affirms: “Investors shouldn’t forget that Japan’s Prelim GDP topped expectations by 5 basis points to kick off the week. Therefore, one may expect investors to send the USD/JPY lower due to a more favorable outlook for the Yen as compared to the Dollar. However, the USD/JPY is continuing to hold strong above our 1st tier uptrend line since the currency pair is drifting closer to a key retracement towards October lows. Regardless of the USD/JPY’s present resilience, there is still a long-term downtrend at play and our technical cushions are wearing thin.”

Forex: EUR/USD rises above 1.4980 and hits fresh intra-day highs

FXstreet.com (Córdoba) – The Euro rose to a fresh high at 1.4987 and approaches to 1.5000. EUR/USD continues to rally after rebounding yesterday at 1.4810. Currently the pair trades at 1.4975/80, 0.705 above today’s opening price. 
To the upside, immediate resistance lies at 1.5000 (Nov 17 high) and above at 1.5020 (Nov 16 high). The pair needs to break above 1.5000 in the next hours otherwise Dollar could gain momentum.

The FastBrokers Research Team affirms: “The EUR/USD still faces multiple downtrend lines along with the highly psychological 1.50 level and previous November highs. However, and a breach beyond our 3rd tire downtrend line could result in a retest of November and October highs with the possibility of more accelerated immediate-term gains. Unfortunately for bulls, the EUR/USD was negated by our 3rd tier downtrend line and 1.50 on Monday, telling us the 1.50 zone continues to have a psychological impact on the currency pair.”

Global Financial Crisis and the Forex Market

Global Financial Crisis and the Forex Market

The crisis is spreading like a cancer and as the days pass it becomes increasingly difficult to abstract from it. By this time almost no profitable sector of the economy is immune to the effects of the financial debacle and even the wealthier segments of the population had to adjust their belts. The Foreign Exchange has been one of the exits all of those seeking to protect their investment have taken.
Investing in the Forex Market, as well as in the Stock Market, in times of crisis could be risky and good at the same time due to the high volatility in the markets which provides an extreme sensitivity to any asset. This could bring two possible consequences: being the market so sensitive to changes the first consequences is that people could lose large amounts of money in just one transaction, but looking at this from another angle, people could also win large amounts of money if they put their money in the right place at the right time.

But how could you know where and when to invest? Anyone who invests in foreign currency exchange should analyze what are the economies most affected by the global crisis, and from there, deduce which currencies could get devalued, and which could benefit from this situation. By doing this, people could get an idea of which are the best currency pairs to invest, taking into account all the market and broker’s parameters such as pips, spread rates and leverage, among others. Which leaves us only with the question: when to invest?. Knowing the exact time to make a transaction in the FX market is almost impossible, but following trends as well as the news of the countries involved is a really important step.

Recommended Forex Brokers

The bad thing about all brokers is that they can’t make you trade better in Forex. The best thing that they can do for a trader is to offer him enough freedom, tools and support to bring his trading strategy to life. Here is the list of those brokers that try not to interfere with the ways that a trader chooses:

FXOpen — some people say that they have too many traders to be efficient but, in my opinion, the amount of traders using this broker proves its quality. After all, it has a nice set of features:

• Contests among traders
• Bonus programs
• Alternative payment methods: WebMoney, LibertyReserve, CashU, E-Bullion and other payment options
• 2 pips spread on EUR/USD

InstaForex — a some sort of competition to FXOpen, this broker offers so many bonus and contest promotions to its traders that this alone is enough to make some traders join. But there are more advantages:

• Trade with MetaTrader platform
• Leverage your trades up to 1:500
• Deposit and withdraw funds via WebMoney, Moneybookers and other ways
• Earn interest on deposit
• Low minimum account size

AvaFX — original Forex broker with almost 4-year history of satisfied customers. Except traditional Forex trading provides also CFD, gold and oil trading:

• 1:200 leverage
• Custom trading platform
• Trade oil, gold and other commodities
• WebMoney, PayPal and many other ways to fund your account
• MetaTrader platform for Forex and commodities trading

Forex4you — relatively new Forex broker that tries its best to keep up with the competition and offers extra-high quality level of service. See for yourself:

• More than 50 trading instruments
• Free news feeds from leading news agencies
• Cent trading (if you feel cheap)
• MetaTrader platform
• Up to 12.5% yearly interest on trade balance

Forex Interest Rates Table

Central bank interest rate is the rate at which country's central banking institutions lend short-term money to the country's commercial banks. Interest rates also play an important role in Forex market. Because the currencies bought via broker are not delivered to the buyer, broker should pay trader an interest based on the difference between "short" currency interest rate and "long" currency interest rate.

In the interest rates table you can not only find the current interest rates of 20 different countries, but also scroll back in time and see how and when interest rates were changed by the central banks.

Interest rates of the following countries are covered in this interest rates table: United States of America, United Kingdom, European Union, Japan, Switzerland, Canada, Australia, New Zealand, Norway, Denmark, Chile, South Africa, Sweden, Brazil, South Korea, Russia, Poland, Latvia, Hungary and Czech Republic.

Top 10 currency trader

Deutsche Bank AG (literally "German Bank"; is an international Universal bank with its headquarters in Frankfurt, Germany. The bank employs more than 81,000 people in 76 countries, and has a large presence in Europe, theAmericas, Asia Pacific and the emerging markets.

Deutsche Bank has offices in major financial centers, such as London, Moscow, Toronto, New York, São Paulo, Singapore, Sydney, Hong Kong and Tokyo. Furthermore, the bank is investing in expanding markets, such as the Middle East, Latin America, Central & Eastern Europe and Asia Pacific.

The bank offers financial products and services for corporate and institutional clients along with private and business clients. Services include sales, trading, and origination of debt and equity;mergers and acquisitions (M&A); risk management products, such as derivatives, corporate finance, wealth management, retail banking, fund management, and transaction banking.

Deutsche Bank’s Chief Executive Officer and Chairman of the Group Executive Committee, since 2002, is Josef Ackermann. Deutsche Bank is listed on both the Frankfurt (FWB) and New York stock exchanges (NYSE).

     

Founded	1870
Headquarters	Frankfurt am Main,Germany

Performance

Year	2008	2007	2006	2005	2004	2003
Net Income	€-3.9bn	€6.5bn	€6.1bn	€3.5bn	€2.5bn	€1.4bn
Revenues	€13.5bn	€30.7bn	€28.5bn	€25.6bn	€21.9bn	€21.3bn
Return on Equity	-29%	29%	30%	26%	16%	1%
Dividend	0.5	4.5	4.0	2.5	1.7	1.5

Business Structure

Deutsche Bank’s mission statement is: “We compete to be the leading global provider of financial solutions for demanding clients creating exceptional value for our shareholders and people.” The bank’s business model rests on two pillars: the Corporate & Investment Bank (CIB) and Private Clients & Asset Management.

Deutsche Bank owns Abbey Life, a large UK pension and assurance company. The company acquired this closed life book in June 2007. Abbey Life has no functioning website, and its purported website www.abbeylife.co.uk has not functioned for many months. Abbey Life's internet activities can be confused with www.abbey.com, an unrelated functioning website owned by Abbey, a UK banking subsidiary of Banco di Santander. Abbey Life pension fund holders have little of the up to date information on the funds and their management needed to protect their interests under current conditions. Abbey Life sold many pension policies in the 1980s, but are now closed to new business. Firms such as Standard Life and Norwich Union scrapped exit penalties for all policies - old and new - in 2001.

Those with Abbey Life pensions are locked into poorly performing funds with very high management charges, and high exit costs David Pitt-Watson, founder of Hermes Equity criticised high pension charges in the UK by comparison with Europe, and called for a reduction in fees, which amount to 40% of the money invested over 25 years assuming an annual charge of 1.5%.

The £2 billion Abbey Life Equity fund returned 60% over 10 years, just over half the return on the un-managed FTSE All Share Index. Abbey Life pensions have been the subject of widespread criticism in the UK press and media, and in November 2008 Abbey Life was instructed by the FSA to remove unfair contract terms from material in its Retirement Pack. In Summer 2008, Money Marketing reported that Independent Financial Advisers were concerned about Abbey Life's practice of automatically vesting clients pensions into its own annuity without their consent. One adviser reported that a plan had been vested on the worst possible terms, with no tax-free cash, no widow's option and the pension paid annually in arrears.