Author Archive

Hosting the 2012 Olympic Games cost the British government an estimated £9.3 billion. While this may seem like an exorbitant amount, history has shown that hosting the Olympics can not only be a matter of prestige for a city, but also stimulate local economies and boost tourism, thus providing long term economic benefits.

British Olympic medal’s impact on cash reserves

The 2012 London Olympics have provided much needed cash reserves to the beleaguered British economy, which announced earlier in July that GDP output fell by 0.7 percent in the second quarter of the year. The games have been very successful, thanks in part to the British team’s exceptional performance.
(more…)

Dominating Forex trading news is the Euro’s continued decline versus the dollar. The new low of 1.229 has hit many traders and this trend is predicted to continue for some time. The faltering of the Euro is seen to have been partially caused by fresh Greek unemployment figures, this data now showing that the number of jobless youths in Greece has hit a record high.
(more…)

We are happy to present the first, basic but useful, initial version of our currency trading Android app for OnlineForex.net, where you can follow our most recent news posts, the daily currency rate fluctuations for the major currency pairs, use our forex glossary, read some of our articles, e.g. “Learn to trade Forex online”, see all of our online forex videos when you are on the go and much more.

All of this is specifically brought to you in mobile format and you can now download our app directly from Google Play.

Some of the statistics so far for our app:

– The Online Forex dot net app is available to over 1482 different type of Android devices.
– It has been downloaded close to 200 times.
– The OnlineForex.net app has been rated 4.9 by all the users so far.
– Android app file size: 163k
– Permissions used by our app: android.permission.INTERNET
– Supported screens: small to xlarge

Screenshots from the OnlineForex.net app

Standard and Poor’s Confirms that UK will keep its AAA Rating in a Move which Leaves Forex Traders Divided

There has been much talk of a double dip recession following the disappointing UK growth figures released earlier this week and concerns had been growing that the UK would imminently lose its AAA rating as it became only the second industrialised nation to fall back into recession.
(more…)

The week ahead looks to highlight concerns underpinning the European sovereign debt situation. The main story still is that of volatility on the European market; the single currency’s future viability questioned by many traders worldwide.

Spain is becoming more and more of a concern

The concerns with Spain’s ability to manage a flailing economy have grown since the IMF rescue package was approved. Spanish yields have tipped well over seven percent, trading at 7.39% after hitting a European-era high of 7.56%. Attempting to mitigate further volatility, Spain has banned short selling for three months while Italy, feeling the effects as well has banned short selling financials for one week. There are now fears that Spain may indeed seek a full bailout, as regional governments have begun to express concern for their ability to manage internal debts. Spanish and Italian bank shares were the worst hit followed closely by their domestic indices; the Ibex at one point dropping nearly five percent.

Greece’s debt reduction

Furthermore, creditors are expected to begin auditing Greece’s progress on debt reduction. This audit determines whether the country is to be approved for an additional 31.5 billion euros. With political and social unease, a quickly shrinking economy and many investors questioning whether Greece will meet its August deadline, there has been speculation of true insolvency should their financial situation worsen.

EUR/USD at two-year low

Because of these protracted jitters, the euro has fallen to a two-year low against the US dollar to trade at $1.2082. Furthermore, it has fallen to an eleven-year low to the Japanese yen. Below $1.20, many online Forex traders have taken a bearish stance.

Euros long term survival

On the other hand, some Forex traders have taken the attitude that any position would have to be long due to such market volatility. This, of course, is under the assumption that the euro will remain in its current form. Indeed, the lack of real movement in the precious metals markets, traditional safe havens, illustrates that many believe the markets may incur still more losses in the near term. Nonetheless, taking a long position in the euro may indeed be one of the few hedges against what remains as the most volatile era for decades.

In recent Forex trading news, it is clear that all eyes continue to be on the economies of both Spain and Italy. Although the ECB’s intervention into the Spanish sovereign debt crisis initially raised investor sentiment, a subsequent backslide occurred, causing Spanish bond rates to hover near the dangerously high level of 7 percent. If we combine this factor with Spain’s request to be given more time to reach its deficit targets in exchange for further domestic austerity measures, (more…)

Disappointing Chinese trade data saw Asian stocks declining and the US Dollar and Japanese Yen gain ground as traders turned to these safe haven currencies. The Chinese report showed that imports grew by only 6.3 percent in June, compared to May’s figures of 12.7 percent and the 11 percent analysts had forecasted. This is disappointing and places a question mark on Asian growth as many of the economies in the area rely on China as their main source of demand.

Thus, overnight Forex tsraders saw the USD gain ground while the AUD (Australian Dollar) and NZD (New Zealand dollar) slipped. Clearly, many online traders opted to mitigate risk and buy up the greenback and Yen. (more…)

Recent Forex trading news highlights the continued fragile state of both the European and United States economies. Nonetheless, the US dollar varied in narrow ranges as liquidity tightens ahead of the July 4th bank holiday in America.

Eurozone PMI

Across the Atlantic in Europe, many online traders are eager to hear what the ECB and the Bank of England will state in their monthly policy announcements. Most traders foresee additional easing on (more…)

Sometimes we traders also need to take some time off from trading. Why not take the opportunity to relax by looking at some of the OnlineForex.net promotional videos below. For you that know us, you will recognise the OnlineForex.net song featured in the popcorn video. Hope you like the videos! (more…)

The German Unemployment Report is expected to support the bleak outlook for the Eurozone as unemployment in the area’s largest economy is forecasted to increase in June. Undoubtedly, the forecast for the Eurozone is not a rosy one, especially considering Greece is expecting a 9% contraction of their (more…)

This past week has seen a number of financially important events; from Greek election results to Spanish bonds surpassing all-time highs. Any signals of enthusiasm regarding Greece’s elections quickly faded and the overall value of the Euro has continued on a downward trend. The forex bears still seem firmly in place in both European and international market trading.

While the immediate threat of an imminent Greek default being averted initially caused a slight rally in European markets, a broader analysis revealed investors’ sentiment still remains shaky; (more…)

Greece’s recent general elections had much of the world holding their breaths as the fear that an anti-Eurozone party would come out victorious. The doomsday scenario many feared was that Greece would revert to the drachma and cancel its bailouts, leading to massive losses for the Eurozone as well as the potential for an even greater disaster, with Spain and Italy teetering on the edge. Fearing excessive volatility on the markets some online Forex trading brokers even shut down private trading on Sunday, the 17th of June.

While the “end of the Eurozone” scenario did not come to pass as the pro-Eurozone (more…)

Regardless of the outcome of today’s Greek elections, get ready for a hectic week in the marketplace!

With Greece holding elections today, we thought this may be a good time to let you know how this event may impact the marketplace when it reopens at 21:00 GMT tonight. Following the failure of Greek politicians to form a new government after the first round of elections in May, nervous investors sent riskier currencies and commodities plummeting. Now with new elections being held, the prospect for fresh market volatility is virtually guaranteed.

(more…)

The young businessman, probably somewhere in his 20’s, recently visited the Playground Club in Liverpool where he spent close to 320,000 dollars (203948,80 GBP) on liquor. He ordered a 30-liter (6,6 gallons) bottle of the world’s most expensive champagne, a double (more…)

The global currency markets accounts and balances are awaiting clearer prospects. This is due to the great concern of the now well-known Greek crisis. The crises has been temporarily mitigated by the cancellation of debts and new loans.

Greece in focus

In terms of international currencies, Greece is in focus. An agreement was signed on debts by private lenders and applies to investors holding government bonds. This has been possible since Greece decided (more…)

One of the brokers at online forex, which has been reviewed here, evaluate and rate their traders per country.

Like most of us know, Forex brokers, like banks, works with different strategies where they focus their marketing, customer support, tight margins and also adjusts their promotions depending on the currency trader’s potential. The banks and brokers all have different approaches and (more…)

Weakened Euro continues

The recent financial turmoil for the Euro continues. Despite extensive funding programs from the European Central Bank, which was presented on March 1st, the EUR currency fell further against both the Japanese Yen (JPY) and the American Dollar (USD).

A lot of efforts

The efforts to curb the crisis in the Euro-area is (more…)

It’s rare that we point out specific trading bonuses or promotions from specific forex brokers in our news. However, the forex broker platform AvaFx is now offering a great deposit bonus of up to 5000 EUR/USD that we do not want anyone to miss, if you have not yet an account with AvaFx. (more…)

Ex-Barx David Cooney launches new proprietary-built retail forex trading platform MahiFX with focus on tight spreads.

The official launch date is February 20th 2012 but on February 2nd MahiFX had the initial release party to a selected number of Forex specialists. We at OnlineForex.net were some of the selected few participating in the London financial district, in top of the world famous Gherkin building.

Currently you (more…)

The Royal Mint highlights the celebration of London Olympics 2012 by releasing an edition of the 50 pence coin, with the football’s offside rule explained on the back side.

The designer Neil Wolfson says “If I had 50p for every time someone asked what the offside rule was, then I would be very rich.”

In United Kingdom there were an estimated 28 million coins circulating as of 30 March 2010.

The fifty pence (50p) coin was first introduced in year 1969, replacing the old ten shilling note. However, in the 1990s the size of the 5p, 10p and 50p coins were reduced. Therefore the oldest 50p coins in circulation are from 1997.

The Royal Mint is the body with permission to mint (manufacture) coins in the United Kingdom. Since 2009 the Royal Mint operates as a company through Royal Mint Ltd, with an exclusive contract with HM Treasury to supply all coinage for the UK. The Royal Mint Limited is 100% owned by HM Treasury (more known as just ‘The Treasury’).