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Up to 25% bonus on depositsFree E-Book: Trading from A-ZPersonal trading coachInformation to existing ForexTrading.com clients whose accounts were opened before March 1st 2012:
Please click here to read about important changes to your ForexTrading.com account from Saxo Bank
INFORMATION TO FOREXTRADING.COM CLIENTS WHOSE ACCOUNTS WERE OPENED PRIOR TO MARCH 1st 2012
Saxo Bank would like to inform you that your account has been transferred from the previous ForexTrading branding to the Saxo Bank branded version. The terms and conditions of your account will remain the same as they applied with the previous Forextrading.com brand. The transfer will therefore not lead to any changes in products, platforms or other services.
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Greece is gearing up towards a June re-run election, while the caretaker government tries to keep the country going. Upcoming elections are expected to be won by anti-bailout politicians, a fact that may have a huge impact on the decision for Greece to leave the European Union. Should Greece leave, it will set a precedent and could have major impact on the market.
Moody's credit rating agency stunned EUR/USD bulls as it downgraded the long-term debt and deposit ratings of 26 Italian banks between 1 to 4 notches. Moody's explains the adverse operating conditions; Italy's return to recession, mounting asset-quality challenges, weakened net profits as well as restricted access to market funding are the the main reasons for the rating cut.
Theodoros Pangalos (Greece deputy prime minister) said over the weekend the country will run out of money in 6 weeks if the EU bailout deal turns sour. Failure to build a coalition over the weekend results and a possible return to the Drachma caused EUR/USD to gap 20 pips lower as we head into a fresh week of trading. China surprised investors as the People's Bank of China (PBOC) cut the required reserve ratio (interest rate) by 0.50%, effective as of 18 May amidst concerns of a large slowdown.
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