GCI Foreign Exchange Research - Daily Market Commentary

Fundamental Outlook at 1400 GMT (EDT + 0400)

€

The euro came off vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4690 level and was capped around the $1.4840 level. The common currency extended its sell-off as dealers reduced their exposure to riskier, higher-yielding assets and moved into assets perceived as safe havens. One indication of this change in market sentiment was the Australian dollar, a higher-yielding currency that tumbled after Australian economic data came in weaker-than-expected, reducing expectations regarding upcoming rate tightenings by Reserve Bank of Australia. U.S. equity markets extended their recent pullback also and some traders believe the paring of risk could continue through the end of the month. European Central Bank member Noyer reported he estimates 2010 eurozone economic growth “slightly above one per cent.” He also added “nothing would justify” lifting the ECB’s benchmark refinancing rate, currently at a record low of 1.0%. ECB President Trichet said policymakers recently concluded the “existing rate was appropriate,” adding “It is clear that for the past several months we have exited the period of (economic) free-fall.” Trichet continued “We have signs of stabilization on both sides of the Atlantic, and certainly on our side. But at the ECB my colleagues and I remain very prudent. We think we have to remain alert. We think we have a chaotic road ahead of us and that, above all, incertitude is very significant. We must therefore manage this uncertainty as best as possible.” Data released in the U.S. today saw September new home sales off 3.6% m/m to an annualized 402,000 pace. Also, September durable goods orders were up 1% with the ex-transportation component up a stronger-than-expected 0.9%. In eurozone news, German preliminary October consumer price inflation was up 0.1% m/m and flat y/y. Also, the September EMU-16 leading indicator was up +1.2% while the September import price index was off 0.9% m/m and 11% y/y. French finance minister Lagarde verbally intervened in the markets today saying China and France both support a strong U.S. dollar policy. Other data released saw the CEPR EuroCoin indicator improved to 0.33 in October from 0.07 in September, evidencing the second consecutive month of economic growth. Euro bids are cited around the US$ 1.4445 level.

¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥90.55 level and was capped around the ¥91.80 level. Demand for risky assets continued to decline across the board and the yen was the biggest recipient as traders shunned assets with higher yields. Bank of Japan Policy Board member Noda noted it is too early to raise interest rates, adding “the current situation doesn’t warrant changing them yet.” The central bank could announce its plans as early as this week to end its purchases of commercial paper and corporate bonds from lenders in December. A report surfaced today that BoJ and the government may hold meetings monthly to exchange views about the economy and economic conditions. Finance minister Fujii reported the government must be aware of Japanese government bond sales and supply when compiling its budget. Prime Minister Hatoyama today said the government will be able to “maintain fiscal discipline and secure the trust of the Japanese government bond market.” Data released in Japan overnight saw September overall retail sales off 1.4% y/y. Futures implied rates for December 2009 are right around 0.510% and are 0.505% for June 2010, an indication the market expects BoJ interest rate policy to remain unchanged through at least the middle of 2010. The Nikkei 225 stock index lost 1.34% to close at ¥10,075.04. U.S. dollar offers are cited around the ¥94.75 level. The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥133.55 level and was capped around the ¥136.00 figure. The British pound moved lower vis-à-vis the yen as sterling tested bids around the ¥148.25 level while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥88.15 level. In Chinese news, the U.S. dollar weakened vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8242 in the over-the-counter market, down from CNY 6.8255. People’s Bank of China deputy governor Yi Gang yesterday said “inflation is not a big risk for the nation in the foreseeable future.” On Monday, Zhou Hai, a division chief at People’s Bank of China in Harbin, released a report indicating the central bank should sell dollars for euro and yen and diversify its massive foreign reserves portfolio. While this represented Zhou’s personal opinion and not PBoC policy, it was enough to move the markets earlier this week, especially given the size of China’s massive US$ 2.273 trillion foreign reserve war chest. There remains widespread speculation the central bank will accelerate the removal of monetary stimuli and liquidity from the system, possibly resulting in further yuan appreciation.

Technical Outlook at 1230 GMT (EDT + 0400)

(Bid Price) (Today’s Intraday Range)

EUR/ USD 1.4708 1.4839, 1.4700
USD/ JPY 90.78 91.81, 90.55
GBP/ USD 1.6387 1.6465, 1.6284
USD/ CHF 1.0268 1.0273, 1.0191
AUD/USD 0.8969 0.9204, 0.8963
USD/CAD 1.0793 1.0804, 1.0636
NZD/USD 0.7264 0.7463, 0.7255
EUR/ JPY 133.53 135.99, 133.26
EUR/ GBP 0.8975 0.9068, 0.8950
GBP/ JPY 148.77 150.38, 148.27
CHF/ JPY 88.39 89.87, 88.17

Support Resistance Support Resistance

EUR/ USD USD/ JPY

L1. 1.4470 1.4915 88.60 93.30

L2. 1.4355 1.5140 87.10 95.50
L3. 1.4175 1.5360 86.10 98.85

GBP/ USD USD/ CHF

L1. 1.6115 1.6685 1.0275 1.0580

L2. 1.5720 1.6830 1.0040 1.0695

L3. 1.5405 1.7040 0.9750 1.0885

AUD/ USD USD/ CAD

L1. 0.8450 0.8830 1.0535 1.0945

L2. 0.8300 0.9050 1.0365 1.1125

L3. 0.8070 0.9120 1.0155 1.1355

NZD/ USD EUR/ JPY

L1. 0.6880 0.7125 131.45 135.75

L2. 0.6750 0.7260 129.75 136.90

L3. 0.6535 0.7395 127.00 138.75

EUR/ GBP EUR/ CHF

L1. 0.8795 0.8995 1.5110 1.5380

L2. 0.8675 0.9105 1.4905 1.5580

L3. 0.8320 0.9225 1.4670 1.5880

GBP/ JPY CHF/ JPY

L1. 146.10 152.50 86.30 88.65

L2. 142.05 157.75 85.40 90.10

L3. 135.70 161.70 81.55 91.60

SCHEDULE

Wednesday, 28 October 2009

all times GMT

(last release in parentheses)

0000 Germany October consumer price index (-0.4% m/m)

0000 Germany October consumer price index (-0.3% y/y)

0000 Germany October CPI, harmonized (-0.5% m/m)

0000 Germany October CPI, harmonized (-0.5% y/y)

0030 Australia Q3 consumer price index (0.5% q/q)

0030 Australia Q3 consumer price index (1.5% y/y)

0030 Australia October DEWR skilled vacancies (1.2% m/m)

0200 NZ October NBNZ business confidence (49.1)

0500 Japan October business confidence (43.5)

0830 Italy October business confidence

0830 Italy October services survey

1100 US October MBA mortgage applications

1230 US September durable goods orders (-2.6%)

1230 US September durable goods, ex-transportation (-0.3%)

1400 US September new home sales (0.7% m/m)

1400 US September new home sales (429,000)

2000 NZ Reserve Bank of New Zealand interest rate decision

2145 NZ September trade balance (-NZ$ 725 million)

2315 Japan October PMI, manufacturing (54.5)

2350 Japan September industrial production (1.8% m/m)

2350 Japan September corporate service prices (-3.5% y/y)

Thursday, 29 October 2009

all times GMT

(last release in parentheses)

0000 Australia August leading index (0.7%)

0000 Germany September import price index (1.3% m/m)

0000 Germany September import price index (-10.9% y/y)

0100 Australia September HIA new home sales (11.4% m/m)

0200 NZ September M3 money supply (3.5% y/y)

0855 Germany October unemployment change (-12,000)

0900 Italy September hourly wages

0930 UK September mortgage approvals (52,300)

0930 UK September new consumer credit (-₤300 million)

0930 UK September net lending secured on dwellings (₤1.0 billion)

0930 UK September M4 money supply (0.7% m/m)

0930 UK September M4 money supply (11.3% y/y)

1000 Eurozone October economic confidence (82.8)

1000 Eurozone October business climate indicator (-2.07)

1000 Eurozone October consumer confidence (-19)

1000 Eurozone October industrial confidence (-24)

1000 Eurozone October services confidence (-9)

1230 US Q3 gross domestic product, annualized (-0.7%)

1230 US Q3 PCE, core (2.0% q/q)

1230 US Weekly initial jobless claims (531,000)

1230 US Continuing jobless claims (5.923 million)

1230 Canada September industrial product prices (0.5% m/m)

1230 Canada September raw materials price index (3.7% m/m)

1500 US Bank of Japan Policy Board meeting

1500 US Bank of Japan economic outlook

2145 NZ September building permits (1.7% m/m)

2330 Japan September jobless rate (5.5%)

2330 Japan September household spending (2.6% y/y)

2330 Japan October Tokyo-area consumer price index

2330 Japan October Tokyo-area CPI, ex-food, energy (-1.4% y/y)

2330 Japan September national consumer price index (-2.2% y/y)

2330 Japan September CPI, ex-food, energy (-0.9% y/y)

Friday, 30 October 2009

all times GMT

(last release in parentheses)

N/A Eurozone October Ifo business climate

N/A Germany September retail sales (-1.5% m/m)

N/A Germany September retail sales (-2.6% y/y)

0000 Australia Q3 NAB business confidence (-4)

0000 UK October Nationwide house prices (0.9% m/m)

0000 UK October Nationwide house prices (0.0% y/y)

0001 UK October GfK consumer confidence (-16)

0030 Australia September private sector credit (0.1% m/m)

0030 Australia September private sector credit (2.5% y/y)

0500 Japan September housing starts (-38.3% y/y)

0500 Japan September housing starts, annualized (676,000)

0500 Japan September construction orders (-25.2% y/y)

0745 France September producer prices (0.4% m/m)

0745 France September producer prices (-8.5% y/y)

0900 Italy September producer price index

1000 Eurozone October consumer price index (-0.3% y/y)

1000 Eurozone September unemployment rate (9.6%)

1030 CH October KOF leading indicator (0.85)

1230 US September personal income (0.2%)

1230 US September personal spending (1.3%)

1230 US September PCE, core (0.1% m/m)

1230 US September PCE, core (1.3% y/y)

1230 US September PCE deflator (-0.5% y/y)

1230 US Q3 employment cost index (0.4%)

1230 Canada August gross domestic product (0.0% m/m)

1345 US October Chicago PMI (46.1)

1400 US October University of Michigan consumer sentiment (69.4)

Investment - How To Start Investing

Currency trading compared to trading stocks gives you big advantages.

The first real advantage is that the amount of money you need to trade is extremely small. With some brokers, as little as $100 allows you to control $10,000 of a currency. Compare that with purchasing stock on margin. If you were to purchase $10,000 in stock, you would have to have a minimum margin of $5,000. That's a huge difference and a giant advantage for you.

The second advantage to currency trading is that the currencies often trend for weeks, months or sometimes even years. Just catch the trend and you're on your way to some nice profits.

The third advantage is that currencies don't suddenly gap up or down with the news of the day as stocks do. There are no accounting problems, scandals, broker downgrades, earnings rumors, insider trading or take over bids. There are no new product announcements or balance sheet issues to worry about.

Another big advantage is that you can trade currencies 24 hours a day, almost 6 days a week.

Currencies trend, but they also fluctuate against each other. Since a pip, the smallest movement of a currency is $.00001and a pip in the mini contract represents $1 of profit or loss, then you can see that with very little movement, you can make or lose some real money.

Profitable trades in forex are relatively easy to come by, but that doesn't mean that as a newbie, you should just jump into the action. As with any money making endeavor there are the tricks of the trade. You have two ways to learn these tricks. You can open an account, start trading and learn your lessons the expensive way, by losing.

Or, you can let a seasoned trader show you what to do and when. In my view, the small amount you have to pay a seasoned trader to show you the ways of the currency market, especially with the convenience of the internet, is money well spent.

Here's where the choices get interesting. There are trading programs that use "bots" or automatic trading signals. The problem with bots is that the market changes its characteristics from time to time and automatic trades that work one day will destroy your account the next day. With bots, you're totally on your own when the eventual losing trades come your way.

In my opinion, the only way to build your trading knowledge is to let a seasoned pro show you what to do.

Here comes the best part. Now you can learn under the wing of a professional trader FREE for 30 days. No credit card needed. After that, if you chose to continue trading under his guidance, your trading profits should more than more than cover your costs.

How Credit Card Counseling Agency Works

Some people have been wondering what credit counseling is and how it can work for you in terms of getting yourself out of credit card debt. Credit counseling itself is a creation that was funded by the credit card industry believe it or not. They did this because they needed to come up with a solid way of getting paid by the people that were unable to pay down all of their credit card debt. Rather than the hassle of sending lawyers and collection agencies to people in order to get their money, they invented this system for people to go in order for them to be able to still get paid. In the end they still get all of what they are owed by people plus the interest of the payments. It is something that has actually made them a lot more money then you would be led to believe.

Usually, a credit counseling agency will attempt to get you a lower interest rate on your credit cards in order to coax you into paying them down. The creditors do not have to accept these terms and can easily reject you, but this is usually based upon your own financial situation and the type of relationship that the credit counseling agency you go with has with your debtors. More often then not, these credit counseling agencies will have a relationship already with these major creditors and already know how much money that they will get as a result of working with them and how much the interest rate will be reduced because of it.

You can usually expect to pay back your entire balance on the debt that you owe and anywhere between six and twelve percent of the interest. This is about half of what your normal interest would be. Again, they do not have to do any of this, but it is what typically will occur when you go through a credit counseling service. When you speak with the potential credit counseling agency be sure that you get all the exact terms and conditions from them. They will usually try to have all of your late payment fees reverted, but this tends to happen when you have a proven track record of about half of a year with them of solid payments.

If a credit counseling agency refers to itself as a non profit organization takes that with a grain of salt. They still spend a lot of money on advertising and salaries and such for their employees so it still very much is a business to them. Non profit in and of itself does not mean they are honest and good people either. It is imperative to do your research on any company that you try and get to work with you. If you take a look at the better business bureau records for the company you are researching, you should be able to get a decent indication on whether or not the company is a good one.

These companies will make their money in a lot of different ways. They will usually just charge you a set up fee and a monthly fee that is rolled into your monthly payments. In addition to this they will also get a fair share percentage of what they recover from you from the credit companies they are paying off your debt to. In order for any of this stuff to actually work you need to make certain that you have a very steady income to pay off your normal monthly bills. When you start their program make certain that the payment is sent in with enough time left in the month in order to send out your payments to your outstanding creditors and debts. If you do not do this you will end up being charged with additional late fees and could hurt your credit rating even further then you already have hurt it.

You have to stay enrolled in this credit counseling service until all of your outstanding debt has been paid in full along with any interest that has built up over time. It depends a lot on how much debt that you have built up on to yourself, but using a credit counseling service will mean that you will end up paying down all of your debt anywhere between two years and eight years from the point of which you began it. You are still going to have to pay off everything you owe plus the interest that has built up on it over a period of time, but this is the way to go if you are looking for an easy way of making only a single payment each month and don't mind having to pay back everything you owe to the companies that you owe it all to.

You should realize that around at least seventy percent or so of the people that join these types of credit counseling programs will fail to ever finish them. This is usually because it only takes you having missed one payment to be removed from the program. So only do this if you know that you have a steady income stream coming in. If that happens the credit card company will report it all to the credit bureaus and when they find out that you are participating in a credit counseling service you are most certainly going to have a tough time going about getting any credit. A lot of credit card companies will treat credit counseling services just like you were a bankrupt individual so it is not always the best route to take and requires a fair degree of time and care to make sure you do not fall into that trap. You need to make sure that you always explore all of the options that are available and never allow yourself to fall into the trap of thinking that it is more difficult for you to get debt relief if you have filed for bankruptcy in the past.

Before you go about getting yourself involved in a credit counseling service or agency be sure that it is the perfect fit for your particular situation. After that make sure that the service that you go with is in good standing or you are going to set yourself up for failure in the long run. Just like any product or service that you would be looking to get be sure to always do all of your research and find the best one that will work the best for you. If you find yourself to be in a financial situation it would be best advised to seek out debt settlement first before going about credit counseling.

Bank Charges

Claiming back your charges: Why it is important not to accept anything less than everything.

The High Court test case may have given the banks some time to get themselves organized for a potential flood of claims but consumers who already claimed compensation are starting to realise that they accepted offers well below what they were entitled to.

Millions of consumers who demanded refunds for bank penalty charges from their banks or building societies used standard complaint letters hoping that it would result in a decent and fair payout. In most cases, a letter of complaint would be sent asking for a refund of all penalty charges imposed for returned debits, bounced cheques and exceeding overdraft limits. The banks compliance officers, who are handsomely paid to defend claims, would often respond with an offer which was less than half way, hoping that it would be accepted so that the matter could be buried under the carpet. Of course in some cases, the banks would simply reject the complaint hoping that the customer would just put the letter away in the kitchen draw and forget all about it. After all, would an old age pensioner want to continue fighting a large financial organisation with the fear having the case ending up in the courts? For those who did manage to get some positive response from their banks, have already accepted paltry offers of compensation without fighting further and perhaps carried a heavy heart filled with desperation to simply get something back. In some cases the offers were less than 50% of the amount owed. The banks have had the last laugh in those cases. Accepting low offers in full and final settlement unfortunately has left many people with goodwill payments that are extremely short of the mark.

Receiving standard rejection letters should never put anyone off from fighting on. It is always worth poking away at the enemy to ensure that the complaint is investigated fully and to make sure you demand all your money with interest. It is astonishing how many people do simply get scared of bogus rejection letters from the banks. It is your money. Fight for it. Banks regularly charge referral fees of anything up to £35.00 and these charges build up with terrific speed. They can total up to figures well above the £2500 mark in most cases. To accept an offer of £500 is simply nonsensical.


It is worth remembering that fighting a bank requires plenty of energy and determination. If people are going to complain then it is important to follow through the complaint in full. To accept anything less that what you are entitled to is simply playing straight into the hands of the banks. They do it without hesitation because they know they can get away with it. The financial services industry is a murky world and recent fines imposed by the FSA show that large organizations have taken advantage of the most vulnerable people in the UK.


Those who want to complain successfully with the aim of getting back all charges with interest should seek professional help if they feel they do not have the stomach for the fight or simply not the time for such haggles. It is always worth getting professional assistance in such cases because claims firms are ready to go the full 12 rounds if need be. You deserve all your money back. Not just a handful of pennies.

Trying Forex Trading with the Best Strategy and Approach

With the day things are today, more people are getting interested in investing their money to make them grow faster. The problem is, not too many people are willing to take the risk of investing it because of the risks, so some of them just let their money rut in banks. Not that there's anything wrong with banks, it's just that they have low rates and the money takes a long time to grow. If you want real money, you have to have the guts to risk it. Making money needs money; risks are always involved if you want to have money fast and big.

One of the largest arenas wherein you can invest your savings is the Forex. Forex trading has been around for decades already and is regarded as the largest financial forum in the whole world with an estimated 3.1 trillion dollars of volume everyday. The Forex (Foreign Exchange) trading is open 24 hours and never sleeps. Transactions are done all over the world via telephones and computers, money exchanges hand in the number of millions in just mere seconds. The Forex Trading is composed of thousands of banks and individual Forex trading companies that monitors development all over the world, developments that may influence the value of their currency. Forex trading deals with the exchange of currencies from different countries. The idea is to determine the rise and fall of the value of a certain currency and trade when it is deemed advisable.

For small Forex trading transactions, managed accounts are the ideal, they are for the cautious because they have the least risky participation. Here you entrust your investments along with others to a reliable, honest and ethical seasoned Forex brokers. These Forex brokers use their extensive knowledge and lengthy experience and use their strategy to make your money grow, for a fee of course.

With the rise of the internet, Forex trading can be done in a click of the mouse. Money travels through space and wires all the time. The computers have done a big help in the growth of Forex trading, transactions can now be done anytime anywhere. Since somebody is up at a given time everyday anywhere in the world, you will never lose someone to trade with.

There are two basic and fundamental ways to analyze and evaluate foreign exchange trading. There is the technical analysis and the fundamental analysis. There is a huge difference between the two. In Fundamental analysis, Forex analyzers and brokers watch out for causes to market fluctuation. These causes may include the political condition of the country, their laws and legislations, financial policies, their growth rate and other factors as well. Technical analysis of Forex trading includes graphs, charts and other method of measuring past data to see the indication of the rise and fall of currencies. They get all the information they need and use them to calculate and forecast the possible direction of a certain currency.

There are lots to learn about Forex trading; even the seasoned broker learns something new everyday. Forex trading has huge returns in an instant if you catch the right moment and transaction. But always remember there is till the risk, Forex trading can be quite a gamble, especially if your forecast is wrong. Before investing your money in any firm, try to investigate about its record and history in Forex trading.

Choosing Advantageous Car Loans

Consumers are customarily left with the understanding that it is a really wonderful concept to opt out of a manufacturers refund in order to obtain an auto loan that is provided at 0% interest fees nonetheless did you ever actually deliberate which choice is best? Many shoppers are oblivious in the beginning that receiving their car loan at 0% interest charges requires that the loan should be paid off a lot quicker, as well as a hefty down payment required which would allow you to repay the loan a lot faster. However, for loans that are assessed interest charges you may typically repay on the loan for a longer loan term, which decreases your periodic payments and additionally decreases the amount of cash you need to pay for a down payment.

One of the biggest aspects that borrowers must analyze is the consideration that consumers who opt for the 0% interest charge auto loan are customarily required to give a down payment of at least 10% to as much as 20% of the vehicle buying total. In addition to this they are generally forced to pay off the loan during a time span of 3 years; regardless there are a few times when buyers are just allowed 2 years to repay the loan. Added stipulations can also include the need to purchase credit protection insurance. This is typically an extremely pricy insurance policy that a car dealership or possibly the vehicle loan broker may require you to purchase in able to get the 0% interest rate loan. This policy is quite pricy usually and can significantly impact your auto payment.

If you decide to choose against the 0% interest fee car typically be able to utilize a lower deposit which can save you a large sum of money. As well, with a normal vehicle loan where you are paying interest chares you are generally able to hold the course of your loan to somewhere from 4 to 6 years. While you would be paying extra in interest charges this way, the total of your auto payment every month might be up to $200 less each month. To many people this could mean the difference amid being capable to handle the vehicle they desire or not.

Additional particulars are normally things such as refunds, for buyers whom are opting interest the 0% interest charge car loan you are generally not allowed to take a manufacturer refund. Regardless if you decide to select a traditional car loan you are still capable to pick the refund. This could be a huge savings particularly if you have good credit and could obtain a low interest charge.

For example, if you are purchasing a vehicle that is priced at $15,000 and you possess great credit you would be facing about 4% interest on the car loan. This will translate interest approximately $1,300 in interest for a 4-year loan. If you accept this loan but are able to be approved for a $2,500 refund from the dealer, you will be sparing $1,200 and will be permitted to give back the loan for a longer time frame. You can then take the extra money you are retaining from your periodic payment and place it in an increased interest bank account to give the financial imprint even better for yourself.

Online Trading, an Option for Transnational Trade

Global deal is exchange of capital, trade goods, and services across transnational frames or territories. In the most of nations, it acts a significant percentage of gross domestic product (GDP). While transnational switch has been represented throughout lots of history (see Silk Road, Amber Road) the economic, cultural, and policy-making importance has been along the rise in last centuries. Industrialization, manufacturers, advanced transportation, globalization, international corporations, and outsourcing are completely having a major affect on the global trade scheme.

Trading globally makes consumers and nations the chance to be exposed to trade goods and services that are not available in their personal nations. Almost each form of product can be seen on the transnational market: food, dress, spare parts, oil, jewellery, wine, stocks, currencies and water. Services are as well traded: tourism, banking, consulting and transportation. A product that is sold to the transnational market is an export, and a product that is bought from the transnational market is an import. Exports and Imports are calculated for in a country's ongoing account in the balance of payments.

According to the U.S. Department of Commerce, big companies gain up approximately 4 % of U.S. Exports which signifies that 96% of exporters are small companies. Why is transnational trade so crucial to scratch small businesses? In several cases, the products or services you may care to market are not accessible or created in your domicile area. For good example, consider about selling cashmere sweaters. You may need to turn an importer in order to compete with imported products sold by your competitors.

Online business can frequently start trading internationally with very little effort. The internet has transformed things. Your site can be your shop window in some number of nations. You don't require a physical front in each territory to deal there.

A Study by Georgios Papastamkos, MEP on Worldwide Trade on the cyberspace emphasised that the online circumstances for small and medium-size enterprises are especially good since they give more opportunities to get across conventional commercial schemes rather than they had even a . Enterprises are effective to prepare their internet sale points easily, rapidly and at small cost, thereby reaching a higher stage of competitiveness.

If your business is running in a niche, with a relatively smaller internal market, looking to another nations can help you widen your audience with surprisingly little effort. And if your trade goods or services appeal to a larger audience, moving into outside marketplaces gives you the chance to reach a wide number of potency recent clients. It could actually rise your receipts and profits.

Still, in a bigger market there will be more competitor from local companies. It can be heavy to equal up on price or fulfilment when sending internationally, so you might let to modify your proposition to have an touch.

It's not only for producer but for consumers are also receiving profits by online trading,. Since they enjoy a very large option between commodities and services, competitive pricing, lower living costs and a improve excellent of life, they as well don't require to go out to surf all products and services even from wholesale suppliers. They are now better able to compare merchandises and services since they gain access more data on online trading.

Car Finance Basics

There happens to be a lot of different things that people do no understand when it comes to getting yourself a new vehicle whether it is through leasing it or buying it, it still requires some information to know how it really does work. The thing that you should keep in mind the most is that a car dealership does not typically finance a car lease or a loan but in turn they will most definitely have some sort of impact on how much you will end up paying on your car financing.

One good thing to keep in mind is that a car dealership will always sell you a vehicle for cash in hand. These people are third party businesses that have purchased a franchise from one or multiple different car makers in order to sell the vehicles. They do not work for these car makers and always work for themselves. It is important to realize that the dealers buy these cars themselves usually through the use of a very large loan through a bank or another type of financial institution and as a result they are also charged rates of interest on these car loans. They then need to sell the cars off in order to pay off their initial loans as well as all of the other associated costs that come with running a car dealership.

Dealers will always get cash for a vehicle that they sell to someone, it could either come from the consumer himself, or some other financial institution that has loaned out the finances to a consumer in order to purchase the vehicle of their choice through an auto loan. People are usually under the misconception that they will be able to get a discount or a better deal if they pay for a vehicle in cash but this is not the case because they in fact will make more from raised interest rates and commissions if you go about financing the vehicle itself.

When a car dealership sells a vehicle to a consumer he will usually push onto them the typical bank or financial institution that they have working with them in order to get their financing settled. A lot of these dealerships will use some of the more well known and major financial institutions that have special deals with the car makers if you do not already have one and you would be paying an additional premium for that luxury. As a consumer however, you have the ability to bring on your own auto financing company if you would like to. The point of stating this is to make it perfectly clear to you that a car dealership does not finance a loan to a consumer at all. They will not process the loans or even take payments on the loans themselves, all they will do is take the application papers that you fill out and will try to arrange some sort of financing with companies that they usually work with for a small fee.

Now a dealer could go about checking your credit history, but this is not for the purposes of getting you the consumer a car or vehicle loan, but is done in order to figure out quickly whether or not the consumer would even be capable of getting a vehicle or if they have any serious credit issues that are currently outstanding. The dealer is not the financial institution and is unable to approve you the consumer for a loan. The financial institution that the dealership forwards your filled out application to will do their own set of credit history checks as well as check out your past payment history and your overall debt to income ratio. This check is a lot better done then what a dealer could possibly do so if you happen to have a dealer check out your credit and tell you that you are alright, they really may not have any idea at all so keep this in mind as well.

When the financial institution is done checking out your credit worthiness you will be classified in one of three types which are prime, near prime, and sub prime. Prime means that you have a great credit profile and have a higher score usually above six hundred and eighty, as a result of this you will be offered the best possible interest rates on your loan. Near prime usually will fall around the six hundred and twenty to the six hundred eighty mark and will usually mean that you could pay as much as four or so percent more then someone that has a prime score. If you happen to be below that and are considered to be sub prime then you are going to have some issues with finding a lending institution that will be willing to give you a auto loan and when you do end up finding a good one the rate of interest you will be paying is going to be very high.

You should also be aware that a car dealership has the ability to change the rate of interest that you would be paying on your car loan. One of the types of hidden fees that some shady car dealerships will try to include to consumers when they purchase or lease a vehicle is to mark it up so that your interest rate is increased regardless of your good credit score. This sort of markup can go up as much as two percent on your overall rate of interest and this particular markup of your interest rate will never be mentioned on any document that you would ever be signing. The car dealership will say that this increase can be considered justifiable because it helps them cover the cost of getting the consumer the financing they need but it is just additional profit or is used to make up for something they may have given to you somewhere else in the car deal. The most a car dealership is legally allowed to mark up your interest rate is by two and a half percent.

Something that a lot of people will ask when they go about getting a new car or vehicle is whether or not they are able to negotiate for their own rate of interest. In a lot of these situations you will not be able to negotiate the base rate of interest that a lending institution gives to you but you will be able to try and haggle down the markup that a car dealership tries to give to you. You should know that though some car dealerships practice this shady act not all of them take part in it. You should also realize that the better credit profile that you have the better rate of interest you will receive over all from the financial institution. So knowing what your credit profile looks like and shopping around on the internet is of the best things you can do for yourself before even ever walking into a car dealership.

Even if a car dealership does check your credit it really does not matter and this is a mistake that most people think occurs. Just because they said it looks good on their end it does not mean it is a done deal for you. When a consumer buys or leases a new vehicle with a car finance they will usually sign papers that state that they agree to purchase the vehicle using funds that are provided to them through a financing company and if they are not approved by the company the deal itself is considered nulled and voided unless they are able to secure another way of financing. Once this is done the car dealership is in no way again involved in the monthly repayment of the loan itself and is no longer responsible for it.

If you happen to have poor credit and come across problems trying to get approved for a vehicle because of your past payment history or debt to income ratio there are still a couple of things that you can do in order to get yourself that car of your dreams. Often times a co signer will allow you to get a vehicle without much of a problem. Other times a financial institution will ask for a large down payment to off set the high amount of risk that you have shown to them through your credit history. This will usually allow you to keep the same monthly payments while having the overall cost of the vehicle to go up. Even if a dealer lets you drive away with the car if the bank or financial company comes back to them denying the loan application the vehicle still will legally belong to them and they will require you to return it regardless of anything that you could have signed originally.

So when it comes down to it you should always know what your personal credit profile and score is before even walking into a car dealership just to make sure that you will not be startled when something goes down later on. The next thing you should do is to shop around for a good car finance that is flexible for all situations online before going into a car dealership so that you are prepared with money in hand in order to make sure that the car you are buying is yours and not the dealers. There are many different places to do this online and getting multiple quotes from different companies will allow you to find the best possible deal regardless of your credit history and situation.

If you have credit problems, repossession, bankruptcy, slow pays or are a first time buyer and in need of Car Lenders in USA. The car finance company offers the opportunity to buy a car on credit when you have been refused credit in the past. So, whatever the reasons - bad credit or no credit or bankruptcy, there is a good chance we can help you!

Online Trading, an Option for World Trade

International deal is substitute of capital, commodities, and services across world frames or soils. In the most of nations, it being a remarkable percentage of gross domestic product (GDP). While world deal has been represented throughout lots of story (see Silk Road, Amber Road) the economic, social, and political importance has been connected the raise in new centuries. Industrialization, manufacturers, advanced transportation system, globalisation, transnational corporations, and outsourcing are all having a major impact on the transnational trade system.

Trading globally opens consumers and nations the opportunity to be exposed to commodities and services that are not available in their individual nations. Almost each variety of product can be checked on the global market: food, clothes, spare parts, oil, jewelry, wine, stocks, currencies and water. Services are as well traded: tourism, banking, consulting and transportation. A product that is dealt to the worldwide market is an export, and a product that is bought from the worldwide market is an import. Imports and exports are described for in a country's ongoing account in the balance of payments.

According to the U.S. Department of Commerce, strong companies reach up about 4 % of U.S. Exports which signifies that 96% of exporters are smaller companies. Why is world trade so strategic to begin smaller businesses? In numerous examples, the products or services you may care to market are not available or made in your domicile nation. For illustration, consider about trading cashmere sweaters. You may want to become an importer in order to compete with established products dealt by your competitors.

Online business can oftentimes start trading internationally with very little effort. The cyberspace has metamorphosed things. Your web site can be your store window in some number of nations. You don't need a physical front in every territory to deal there.

A Paper by Georgios Papastamkos, MEP on Transnational Trade on the cyberspace emphasised that the online circumstances for smaller and medium-size enterprises are especially great since they receive more chances to get across conventional commercial systems instead than they had even a last decade. Enterprises are effective to set up their cyberspace sale targets easy, speedily and at little cost, thereby achieving a higher level of fight.

If your business is operating in a niche, with a relatively smaller domestic market, looking to another nations can help you expand your audience with surprisingly little effort. And if your commodities or services attract to a bigger audience, moving into international marketplaces makes you the probability to touch a wide number of potency recent customers. It could really boost your receipts and earnings.

However, in a larger market there will be more competition from local companies. It can be heavy to match up on cost or fulfilment when shipping internationally, so you might let to modify your proposition to have an impact.

It's not only for manufacturer but for consumers are also receiving benefits by online trading,. Since they enjoy a very bigger choice between commodities and services, competitive pricing, lower living costs and a better excellent of life, they as well don't demand to go out to browse all products and services even from wholesale providers. They are today better able to compare productions and services since they take access more selective information on online trading.

Are Traditional Banks Better Than Internet Banking?

With the ubiquitous internet as it is today, you have the convenience of doing a variety of banking transactions online from the comfort of your home, in your office or while traveling. This extraordinary technological creation has so made life easier for a lot of people including professionals, the business community, housewives and scholars even for banking purposes. Notwithstanding, this new communication phenomenon people have not stopped patronizing the usual off line banks . The orthodox banks will always be there for those people who still choose to interact in an real bank in where they see staff and call them by name.

The banks that have gone online and their offline counterpart have their advantages and disadvantages. It's up to you to consider and decide whether to transact your financial affairs with either an online bank or an off line one . What really count s is that you should know your financial demands so as to be able to actually be on the look out for the latest tendency in the banking industry and understudy them to see how it favors you. Even if you are loyal to your usual offline bank, you may also have the need to sometimes use the online banking service for an urgent transaction or when you are where the bank is not near by.

Accomplished banks continue to use pen and paper for organizing financial transactions off line while in their online virtual offices computer and internet and keyboard are the instruments for banking transactions . The fact is that a lot of people are now online with financial products that are internet-only services meant to compete with the normal off line banks . Though these conservative banks cater mainly to their old customers, people who should know are advising them to also open online offices to serve the internet-savvy young people and by so doing attract more customers

Security and person to person interactions are the main reasons people maintain the use of traditional banks. A lot of people feel that human contact is a necessity in any bank transaction; they want to hand their hard earned cash over to real teller.

Banking online is quite the same as when you do the same thing in an offline bank. The significant dissimilarity is that your computer replaces paper or phone for accessing your account information for payments and statements reconciliations . You don't really have to worry about going to your local bank branch when you can do all the things necessary to effect a bank transaction in the comfort of your home with a desktop computer or laptop and internet connection.

A principal advantage that internet banking offers people who go for online banking is cost effectiveness. Certain banks are known to charge their customers lower fees if the bank online banking services.

GCI Foreign Exchange Research

Fundamental Outlook at 1400 GMT (EDT + 0400)

€

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4875 level and was capped around the $1.4760 level. The common currency continues to inch towards the psychologically-important $1.50 figure and the U.S. dollar it now at its weakest level since before the Lehman bankruptcy. Data released in the eurozone today saw French September consumer prices decline 0.2% after climbing 0.5% last month, and were off 0.4% y/y. Also, the German ZEW economic expectations index declined for the first time in four months, falling 1.7 points to 56.0 points. The German media is reporting the German government will revise its latest economic forecast on Friday and an upward revision to a contraction of -4.5% is possible, up from -6.0%. There is speculation the German economy may have grown 1% y/y. Federal Reserve Chairman Bernanke was on the wire last week saying interest rates will need to eventually move higher but most Fed-watchers believe the Fed will keep rates unchanged for several months. Euro bids are cited around the US$ 1.4445 level.

¥/ CNY

The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥89.45 level and was capped around the ¥90.20 level. Data released in Japan today saw September bank lending up 1.6% y/y while the September M3 money supply was up 2.2% y/y. Asian monetary authorities intervened last week by buying U.S. dollars. Most traders believe Bank of Japan will keep interest rates unchanged for months and the major question is when the central bank will end its emergency lending programs. The Nikkei 225 stock index climbed 0.60% to close at ¥10,076.56. U.S. dollar offers are cited around the ¥94.75 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥133.25 level and was supported around the ¥132.55 level. The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥142.20 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥87.80 level. In Chinese news, the U.S. dollar weakened vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8222 in the over-the-counter market, up from CNY 6.8211. Chinese officials have recently indicated they will stimulate domestic final private demand to reduce China’s dependence on foreign trade.

₤

The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5850 level and was supported around the $1.5705 level. The European Commission today granted the U.K. permission to extend its temporary bank support programs through the end of the year. Bank of England Monetary Policy Committee member Posen reported “There are still problems out there in the banking system. It is possible we will have another banking sector-led problem in the U.S. and elsewhere." Data released in the U.K. today saw September retail sales up 2.8% y/y while the DCLG house price index was off 5.6% in August. Also, September consumer price inflation fell to 1.1% from 1.6% in August and was unchanged m/m. The annual decline represented the weakest rate in seven years. These data render it likely the MPC will keep its easy monetary policy unchanged for some time. Cable bids are cited around the US$ 1.5640 level. The euro moved lower vis-à-vis the British pound as the single currency tested offers around the ₤0.9410 level and was supported around the ₤0.9345 level.

Technical Outlook at 1230 GMT (EDT + 0400)

(Bid Price) (Today’s Intraday Range)

EUR/ USD 1.4833 1.4876, 1.4761
USD/ JPY 89.70 90.18, 89.44
GBP/ USD 1.5818 1.5827, 1.5706
USD/ CHF 1.0227 1.0277, 1.0192
AUD/USD 0.9081 0.9125, 0.9040
USD/CAD 1.0317 1.0367, 1.0264
NZD/USD 0.7364 0.7414, 0.7325
EUR/ JPY 133.12 133.24, 132.52
EUR/ GBP 0.9369 0.9411, 0.9345
GBP/ JPY 142.03 142.21, 141.16
CHF/ JPY 87.71 87.81, 87.33

Support Resistance Support Resistance

EUR/ USD USD/ JPY

L1. 1.4470 1.4915 88.60 93.30

L2. 1.4355 1.5140 87.10 95.50
L3. 1.4175 1.5360 86.10 98.85

GBP/ USD USD/ CHF

L1. 1.6115 1.6685 1.0275 1.0580

L2. 1.5720 1.6830 1.0040 1.0695

L3. 1.5405 1.7040 0.9750 1.0885

AUD/ USD USD/ CAD

L1. 0.8450 0.8830 1.0535 1.0945

L2. 0.8300 0.9050 1.0365 1.1125

L3. 0.8070 0.9120 1.0155 1.1355

NZD/ USD EUR/ JPY

L1. 0.6880 0.7125 131.45 135.75

L2. 0.6750 0.7260 129.75 136.90

L3. 0.6535 0.7395 127.00 138.75

EUR/ GBP EUR/ CHF

L1. 0.8795 0.8995 1.5110 1.5380

L2. 0.8675 0.9105 1.4905 1.5580

L3. 0.8320 0.9225 1.4670 1.5880

GBP/ JPY CHF/ JPY

L1. 146.10 152.50 86.30 88.65

L2. 142.05 157.75 85.40 90.10

L3. 135.70 161.70 81.55 91.60

SCHEDULE

Tuesday, 13 October 2009

all times GMT

(last release in parentheses)

N/A Japan Bank of Japan Policy Board interest rate decision

0130 Australia September NAB business confidence (18)

0130 Australia September NAB business conditions (4)

0645 France September consumer price index (0.5% m/m)

0645 France September consumer price index (-0.2% y/y)

0645 France September CPI, harmonized (-0.2% y/y)

0645 France August current account (-€1.2 billion)

0715 CH September producer and import prices (0.1% m/m)

0715 CH September producer and import prices (-5.5% y/y)

0830 UK September consumer price index (0.4% m/m)

0830 UK September consumer price index (1.6% y/y)

0830 UK September RPIX (1.4% y/y)

0830 UK August DCLG house prices (-8.3% y/y)

0900 Germany October ZEW survey, economic sentiment (57.7)

0900 Germany October ZEW survey, current situation (-74.0)

0900 Eurozone October ZEW survey, economic sentiment (59.6)

1230 Canada August international merchandise trade (-C$ 1.4 billion)

1230 Canada August new house price index (0.3% m/m)

1700 US Federal Reserve Governor Kohn speaks

Wednesday, 14 October 2009

all times GMT

(last release in parentheses)

0000 Australia October Westpac consumer confidence (5.2%)

0000 Australia Q3 NAB business confidence (-4)

N/A Japan September Tokyo department store sales (-10.3% y/y)

N/A Japan September nationwide department store sales (-8.8% y/y)

0830 UK September retail price index (0.5% m/m)

0830 UK September jobless claims, net change (24,400)

0830 UK September claimant count rate (5.0%)

0830 UK August ILO unemployment (7.9%)

0830 UK August average earnings (1.7%)

0830 UK August manufacturing unit wage cost (4.3%)

0900 Eurozone August industrial production (-0.3% m/m)

0900 Eurozone August industrial production (-15.9% y/y)

1100 US MBA mortgage applications

1230 US September retail sales (2.7%)

1230 US September retail sales, ex-autos (1.1%)

1230 US September import price index (2.0% m/m)

1230 US September import price index (-15.0% y/y)

1400 US August business inventories (-1.0%)

1800 US Federal Open Market Committee meeting minutes

2145 NZ Q3 consumer price index (0.6% q/q)

2145 NZ Q3 consumer price index (1.9% y/y)

2145 NZ September food prices (-0.9% m/m)

2330 Australia Reserve Bank of Australia Governor Stevens speaks

Thursday, 15 October 2009

all times GMT

(last release in parentheses)

0100 Australia October consumer inflation expectations (3.5%)

0400 Italy Bank of Italy quarterly economic bulletin

0430 Japan August industrial production

0430 Japan August capacity utilization (3.9% m/m)

0500 Japan Bank of Japan monthly report

0800 Italy September consumer price index

0800 Eurozone October European Central Bank monthly report

0900 Eurozone September CPI (0.3% m/m)

0900 Eurozone September CPI (-0.2% y/y)

0900 Eurozone September CPI (1.3% y/y)

0900 CH October ZEW survey, expectations (58)

1230 US September consumer price index (0.4% m/m)

1230 US September consumer price index (-1.5% y/y)

1230 US September CPI, ex-food and energy (0.1% m/m)

1230 US September CPI, ex-food and energy (1.4% y/y)

1230 US October Empire manufacturing index (18.88)

1230 US Weekly initial jobless claims

1230 US Continuing jobless claims

1230 Canada August manufacturing shipments (5.5% m/m)

1400 US October Philadelphia Fed index (14.1)

Friday, 16 October 2009

all times GMT

(last release in parentheses)

0715 CH August retail sales

0800 Italy August trade balance

0900 Eurozone August trade balance (€12.6 billion)

0905 Italy August current account

1100 Canada September consumer price index (0.0% m/m)

1100 Canada September consumer price index (-0.8% y/y)

1100 Canada Bank of Canada consumer price index, core (0.1% m/m)

1100 Canada Bank of Canada consumer price index, core (1.6% y/y)

1300 US August net long-term TIC flows (US$ 15.3 billion)

1300 US August total net TIC flows (-US$ 97.5 billion)

1315 US September industrial production (0.8%)

1315 US September capacity utilization (69.6%)

1400 US October University of Michigan consumer sentiment

DISCLAIMER: GCI’s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.