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OctaFX.Com - IMF chief against any breakup of Eurozone IMF managing director does not want to see weaker European countries split from Eurozone WASHINGTON (AP) -- The managing director of the International Monetary Fund says her global lending organization wants the Eurozone to stay together, not be broken up by the departure of some of its weaker nations. Christine Lagarde told the annual meeting of The Associated Press that the IMF has no agenda "to breakup that zone." There has been talk that Greece, one of the 17 nations that use the euro, might at some point leave. Lagarde was asked if such countries, even Spain and Italy, might be better off outside the zone. "To your question, I think the answer is no," she said. Apr 03, 2012 16:07 OctaFX.Com News Updates

Policy statement and principles Octa Markets Incorporated ("OctaFX") have adopted an Anti-Money Laundering (AML) compliance policy ("Policy") as set forth in the Board minutes, dated 15 of September 2011. Scope of policy This policy applies to all OctaFX officers, employees, appointed producers and products and services offered by OctaFX. All business units and locations within OctaFX will cooperate to create a cohesive effort in the fight against money laundering. Each business unit and location has implemented risk-based procedures reasonably expected to prevent, detect and cause the reporting of transactions. All efforts exerted will be documented and retained. The AML Compliance Committee is responsible for initiating Suspicious Activity Reports ("SARs") or other required reporting to the appropriate law enforcement or regulatory agencies. Any contacts by law enforcement or regulatory agencies related to the Policy shall be directed to the AML Compliance Committee. Policy It is the policy of OctaFX to prohibit and actively pursue the prevention of money laundering and any activity that facilitates money laundering or the funding of terrorist or criminal activities. OctaFX is committed to AML compliance in accordance with applicable law and requires its officers, employees and appointed producers to adhere to these standards in preventing the use of its products and services for money laundering purposes. For the purposes of the Policy, money laundering is generally defined as engaging in acts designed to conceal or disguise the true origins of criminally derived proceeds so that the unlawful proceeds appear to have been derived from legitimate origins or constitute legitimate assets. Generally, money laundering occurs in three stages. Cash first enters the financial system at the "placement" stage, where the cash generated from criminal activities is converted into monetary instruments, such as money orders or traveler's checks, or deposited into accounts at financial institutions. At the "layering" stage, the funds are transferred or moved into other accounts or other financial institutions to further separate the money from its criminal origin. At the "integration" stage, the funds are reintroduced into the economy and used to purchase legitimate assets or to fund other criminal activities or legitimate businesses. Terrorist financing may not involve the proceeds of criminal conduct, but rather an attempt to conceal the origin or intended use of the funds, which will later be used for criminal purposes. Customer identification program OctaFX has adopted a Customer Identification Program (CIP). OctaFX will provide notice that they will seek identification information; collect certain minimum customer identification information from each customer, record such information and the verification methods and results; and compare customer identification information with OFAC. Notice to customers OctaFX will provide notice to customers that it is requesting information from them to verify their identities, as required by applicable law. Required customer information The following information will be collected for all new insurance and annuity applications: Name Date of birth Address Passport number and country of issuance Alien identification card number or Number and country of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or other similar safeguard. Verifying information Based on the risk, and to the extent reasonable and practicable, OctaFX will ensure that it has a reasonable belief of the true identity of its customers. In verifying customer identity, appointed producers shall review photo identification. OctaFX shall not attempt to determine whether the document that the customer has provided for identification has been validly issued. For verification purposes, OctaFX shall rely on a government-issued identification to establish a customer's identity. OctaFX, however, will analyze the information provided to determine if there are any logical inconsistencies in the information obtained. OctaFX will document its verification, including all identifying information provided by the customer, the methods used and results of the verification, including but not limited to sign-off by the appointed producer of matching photo identification. Monitoring and reporting Transaction based monitoring will occur within the appropriate business units of OctaFX. Monitoring of specific transactions will include but is not limited to transactions aggregating $5,000 or more and those with respect to which OctaFX has a reason to suspect suspicious activity. All reports will be documented. Suspicious activity There are signs of suspicious activity that suggest money laundering. These are commonly referred to as "red flags." If a red flag is detected, additional due diligence will be performed before proceeding with the transaction. If a reasonable explanation is not determined, the suspicious activity shall be reported to the AML Compliance Committee. Examples of red flags are: The customer exhibits unusual concern regarding the firm's compliance with government reporting requirements and the firm's AML policies, particularly with respect to his or her identity, type of business and assets, or is reluctant or refuses to reveal any information concerning business activities, or furnishes unusual or suspect identification or business documents. The customer wishes to engage in transactions that lack business sense or apparent investment strategy, or are inconsistent with the customer's stated business strategy. The information provided by the customer that identifies a legitimate source for funds is false, misleading, or substantially incorrect. Upon request, the customer refuses to identify or fails to indicate any legitimate source for his or her funds and other assets. The customer (or a person publicly associated with the customer) has a questionable background or is the subject of news reports indicating possible criminal, civil, or regulatory violations. The customer exhibits a lack of concern regarding risks, commissions, or other transaction costs. The customer appears to be acting as an agent for an undisclosed principal, but declines or is reluctant, without legitimate commercial reasons, to provide information or is otherwise evasive regarding that person or entity. For no apparent reason, the customer has multiple accounts under a single name or multiple names, with a large number of inter-account or third-party transfers. The customer is from, or has accounts in, a country identified as a non-cooperative country or territory by the Financial Action Task Force. The customer's account has unexplained or sudden extensive wire activity, especially in accounts that had little or no previous activity. The customer's account shows numerous currency or cashiers check transactions aggregating to significant sums. The customer's account indicates large or frequent wire transfers, immediately withdrawn by check or debit card without any apparent business purpose. The customer makes a funds deposit followed by an immediate request that the money be wired out or transferred to a third party, or to another firm, without any apparent business purpose. The customer requests that a transaction be processed in such a manner to avoid the firm's normal documentation requirements. The customer, for no apparent reason or in conjunction with other red flags, engages in transactions involving certain types of securities, such as penny stocks, and bearer bonds, which although legitimate, have been used in connection with fraudulent schemes and money laundering activity. (Such transactions may warrant further due diligence to ensure the legitimacy of the customer's activity.) The customer's account shows an unexplained high level of account activity with very low levels of securities transactions. Attempt to borrow maximum cash value of a single premium policy soon after purchase. If the appointed producer: Exhibits a dramatic or unexpected increase in sales (particularly of single premium contacts) Has consistently high activity in single premium contracts in excess of company averages Exhibits a sudden change in lifestyle Requests client documentation be delivered to the agent Investigation Upon notification to the AML Compliance Committee an investigation will be commenced to determine if a report should be made to appropriate law enforcement or regulatory agencies. The investigation will include, but not necessarily be limited to, review of all available information, such as payment history, birth dates, and address. If the results of the investigation warrant, a recommendation will be made to the AML Compliance Committee to file a blocked assets and/or a SAR with the appropriate law enforcement or regulatory agency. The AML Compliance Committee is responsible for any notice or filing with law enforcement or regulatory agency.

A look at the unemployment rates in the eurozone A glance at the various rates of unemployment across the 17-nation eurozone Eurostat, the EU's statistics office, estimates that unemployment across the 17-country eurozone rose to 10.8 percent in February, a new record since the euro launched in 1999. Here's how the countries compare: Spain 23.6 percent Greece 21.0 percent+ Portugal 15.0 percent Ireland 14.7 percent Slovakia 14.0 percent Estonia 11.7 percent+ France 10.0 percent Cyprus 9.7 percent Italy 9.3 percent Slovenia 8.7 percent Finland 7.4 percent Belgium 7.2 percent Malta 6.8 percent Germany 5.7 percent Luxembourg 5.2 percent Netherlands 4.9 percent Austria 4.2 percent Apr 02, 2012 16:40 OctaFX.Com News Updates OctaFX is proud to offer top-notch service level to its customers. Please stay tuned for the news and updates from OctaFX!

Euro slides versus dollar, yen on European manufacturing NEW YORK (Reuters) - The euro slid against the dollar and yen on Monday as weak European manufacturing data prompted investors to compare the outlook for the euro zone with the improving economy. The euro remained vulnerable to renewed bouts of selling after the regional manufacturing survey, analysts said, as investors took a cautious view of prospects for the global economy even after strong Chinese factory data. A report on business activity in the U.S. manufacturing sector came in above the consensus forecast further contrasting the U.S. against the euro zone. "PMIs out of Europe are another reminder of the extent economies have gone down," said Omer Esiner, chief market analyst with Commonwealth Foreign Exchange in Washington, D.C. "Strong U.S. data this week is likely to see the dollar strengthen on rising yield appeal." The euro fell 0.3 percent against the dollar to $1.3311, though still within a cent of the recent one-month high of $1.3385, according to Reuters data. Analysts said that peak will provide resistance after the euro has repeatedly failed to breach it. Traders said negative sentiment towards euro zone assets arose on reports the Bundesbank would not accept the bonds of several countries, including Portugal, as collateral. Germany's central bank later denied the reports. "There's an increasing risk of a more prolonged recession in Europe and economic fundamentals argue in favor of a further downward adjustment in the euro," said Lee Hardman, currency analyst at BTM-UFJ in London. YEN GAINS The low-yielding yen, which tends to fall when risk appetite increases, recouped earlier losses, with the dollar down 0.9 percent at 82.09 yen and the euro down 1.1 percent at 109.26 yen. "It seems like investors remain cautious with service sector data from China still to come this week and nothing to indicate an imminent policy response from the Chinese to the slowdown in their economy," said Valentin Marinov, head of European G10 currency strategy at Citi in London. "It's a week ahead of the long weekend with thin liquidity, making investors reluctant to express strong views and which limits the scope for meaningful returns ahead of Easter." The Japanese currency was undermined by a weaker-than-expected reading of the Tankan survey of sentiment at big Japanese manufacturers, which put the spotlight on whether the Bank of Japan will ease monetary policy further as early as next week. The Australian dollar was up around 0.8 percent for the day at $1.0416, though off a high of $1.0449 touched earlier in the global session. The currency tends to benefit from any signs of improvement in the Chinese economy due to Australia's strong trade links with the country. But many analysts have recently expressed concerns it is overvalued. "The Chinese recovery is modest ... We like to sell Aussie on any rally," said George Saravelos, G10 currency strategist at Deutsche Bank in London. Apr 02, 2012 16:03 OctaFX.Com News Updates

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Euro drops, yen rises; Spanish budget ahead NEW YORK (Reuters) - The euro slid against the dollar and the yen on Thursday as investors dumped the single currency, nervous about Spain's budget presentation at the end of the week and ongoing concerns about the euro-zone sovereign debt crisis. The single currency has declined steadily in recent sessions after touching a near four-week high earlier this week on comments from U.S. Federal Reserve Chairman Ben Bernanke, who indicated supportive monetary policy will remain in place. But with several key risk events for the euro zone in the next few days, investors are squaring positions, said Nick Bennenbroek, head of currency strategy at Wells Fargo Bank in New York. "We've had a few good days for the euro," he said. With a broader bias to sell euros still pervading the market, investors are now booking profits on some of those advances, he added. The euro fell 0.3 percent to $1.3273 and touched its lowest since in three sessions in earlier trade. Events in the next few days include Spain's budget presentation, which will show how far the government will tighten its belt, and a meeting of euro-zone finance ministers, where policymakers are expected to increase the combined lending ceiling of their two bailout funds. Spain's budget "is a very dicey game," said Karl Schamotta, senior markets strategist with Western Union Business Solutions in Calgary. An austere document could spur relief in bond markets. "However, the reality is that that will slow growth and cause problems for them down the road," he said. "If the budget is on the softer side, we could see bond markets capitulating and participants concerned that we are not seeing enough resolve." For trading, that means volatility ahead, Schamotta said. Italian and Spanish bond yields were already rising on Thursday despite a broadly successful sale of Italian bonds, as investors switched into low-risk German debt. Focus on the euro-zone bailout fund's size increased after European Central Bank governing council member Jens Weidmann, who is also the Bundesbank chief, warned that raising the firewall around stricken euro-zone members would only buy time. Traders said automatic, stop-loss sell orders were triggered on the euro's break below $1.33 after the European Commission's economic sentiment index dipped by 0.1 percent, with sentiment in industry becoming markedly worse. Analysts said the euro was unlikely to break out of its recent range of roughly $1.30 to $1.35. YEN RISES BROADLY The euro fell 0.9 percent on the day to 109.27 yen. The Japanese currency gained broadly on demand linked to the end of Japan's financial year and as European and U.S. equity markets followed Asian bourses into negative territory. Wednesday was the last day for spot trading in Japan's business year that will end on March 31. But real-money flows from Tokyo kept major currencies under pressure against the yen, with exporters selling the dollar in large amounts, market players said. The dollar fell 0.66 percent to 82.30 yen and touched a near three-week low, triggering reported stop-loss orders on the break of 82.35/40. But many strategists said the dollar should reassert itself against the yen as long as upcoming U.S. data does not support a recent rise in concerns about growth. "There's definitely a lot of month-end and quarter-end rebalancing, but the bigger story we are seeing is some bond buying and equity selling in the last 24 hours," said Geoff Kendrick, currency strategist at Nomura. The growth-linked Australian dollar fell 0.5 percent to USD$1.0339, hurt by concerns about slower growth in China. Mar 29, 2012 16:10 OctaFX.Com News Updates

Gold slips 1 percent as dollar strengthens LONDON (Reuters) - Gold prices slid more than 1 percent on Thursday as a break higher in the dollar and a drop in oil prices pushed gold through key support near the $1,655 an ounce level, prompting further liquidation. Spot gold was down 0.6 percent at $1,652.84 an ounce at 1508 GMT, off a low as $1,647.29 an ounce. The metal is on track for a third session of losses after a rally early in the week, sparked by Federal Reserve hints that accommodative monetary policy is set to persist, petered out. "We have a forecast for an average price for the year of $1,450, so we are not surprised that gold prices are struggling to go higher," Nic Brown, head of commodity research at Natixis, said. "We think as time goes on the likelihood is that prices will probably soften further." Gains in the dollar exerted strong pressure on gold. The euro fell against the U.S. unit as concerns about contagion from the euro zone debt crisis resurfaced ahead of Spain's budget on Friday. A stronger dollar tends to weigh on gold, which is priced in the U.S. currency. (FRX/) Oil prices fell nearly $2 a barrel, European shares slipped and safe-haven German bunds inched higher, suggesting little appetite for assets seen as higher risk. A broadly successful sale of Italian bonds did little to soothe worries over the euro zone crisis.(GVD/EUR) Gold is likely to need significant fresh support from a move in the wider financial markets, as well as a drop in the dollar, to push it to fresh highs, analysts said. "We have suspected that it would take much more than a pure dollar correction for sustained gains to $1,700 and beyond, especially now that bullion is strongly correlated to the broader equity market, and risk sentiment in general," VTB Capital said in a note. "It comes as little surprise, with the VIX volatility index - the global risk gauge - rallying to 2.5-week highs, that gold followed other precious metals with the broader market back in risk averse mode." SUBSTANTIAL SUPPORT Physical demand for gold among key Asian buyers was mixed. "In the near-term there is substantial support still coming out of China. Until Chinese investors have a solid alternative to precious metal, it's likely that demand coming out of China will remain very strong," said Natixis' Brown. But gold demand from India, the world's biggest buyer of the yellow metal, remains muted as jewelers' protests entered their thirteenth day, dealers said. "If you see a significant decline in Indian demand for gold, that is a major negative for the gold market," Brown said. U.S. gold futures for June delivery were down $5.30 an ounce at $1,655.20. Swiss bank UBS cut its 2012 gold price forecast to $1,680 an ounce from $2,050 previously, which it said partly reflects the metal's performance in the first quarter. "The view that the U.S. economic recovery is looking more sustainable is becoming increasingly accepted," it said. "As acute macro stresses abate, investors are looking at other asset classes and to the growth story once again. Gold is moving off the centre-stage position it occupied for most of last year." Nonetheless, the threat of a fresh downturn in the U.S. economy and of further credit stress, as well as ongoing official sector buying, higher oil prices and the low interest rate environment, will still underpin gold, it added. Silver was down 0.7 percent at $31.78 an ounce. The gold/silver ratio, or the number of silver ounces needed to buy an ounce of gold, rose back towards 52, near a two-month high. Spot platinum was down 0.3 percent at $1,625.70 an ounce, while palladium was down 0.1 percent at $641.97. Mar 29, 2012 15:17 OctaFX.Com News Updates

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Dollar gains, snapping two day drop versus euro NEW YORK (Reuters) - The dollar gained against the euro on Tuesday, snapping two straight sessions of losses as data tempered concerns of more stimulus from the Federal Reserve. The greenback's rally came a day after comments from Federal Reserve Chairman Ben Bernanke raised expectations that the Fed could yet embark on a third round of quantitative easing. On Monday, Bernanke said "further significant improvements in the unemployment rate will likely require a more rapid expansion of production and demand from consumers and businesses, a process that can be supported by continued accommodative policies." He made those comments to the National Association for Business Economics. Until markets have more clarity on the Fed's plans, though, trading could stay constrained, analysts said. "From our perspective, people are misinterpreting the Bernanke speech," said Mark McCormick, a G10 currency strategist with Brown Brothers Harriman in New York. "I think people have taken it as sign of quantitative easing coming down the line, but I think that exaggerates the key takeaway," he added, with Bernanke not necessarily signaling more QE. The euro slid 0.2 percent to $1.3334 in New York on Tuesday. A U.S. report showed home prices were unchanged in January from December, the first time since July the seasonally adjusted S&P/Case-Shiller 20-city index has not declined and a sign that the battered housing market is slowly stabilizing. A report from industry group The Conference Board showed the index of consumer attitudes eased to 70.2 from an upwardly revised 71.6 the month before, roughly in line with economists' expectations for 70.3. The details of the report were mixed as consumer expectations fell, but their assessment of their current situation rose to the highest level since September 2008. "The economy is doing a lot better than many people thought, and the market is going to run with that, but the Fed will not stand around while U.S. yields back up significantly," said Neil Mellor, currency strategist at Bank of New York Mellon in London. "There will be a cat-and-mouse game between the market and Bernanke. I think the dollar will be in a range for some time." The euro zone's sovereign debt crisis could still weigh on the single currency, as well. While Germany signaled for the first time on Monday its willingness to increase the resources available for tackling the euro-zone debt crisis, several key events remain this week. Those include a meeting of euro-zone finance ministers in Copenhagen on Friday and Saturday and Spain's budget presentation on Friday. The meeting of finance ministers "could result in some near- term volatility," said Omer Esiner, chief market analyst with Commonwealth Foreign Exchange in Washington, D.C. "It's hard to push the euro up further from these levels without some catalyst." YEN STEADIES AFTER DROP Traders and analysts said moves in U.S. Treasuries would be key for the dollar. If demand for Treasuries gained steam and bond yields fell in the wake of Bernanke's comments, the dollar could face more pressure. The greenback was up 0.4 percent against the yen at 83.15 yen, though below a recent 11-month high. Against Japan's yen, the single currency rose 0.2 percent to 110.86 yen. The Japanese currency was seen as vulnerable to more selling, and has been under heavy pressure since Japan announced monetary easing measures last month. With the fiscal year ending on March 31, which is Saturday, expected repatriation flows have done little to support the yen so far, said Joe Manimbo, a market analyst with Western Union Business Solutions in Washington, D.C. "That suggests next week the yen could come under pressure, since it didn't benefit from expected month- and year-end flows," he added. Mar 27, 2012 17:22 OctaFX.Com News Updates

Stocks hit 8-month high, dollar bounces back NEW YORK (Reuters) - World stocks touched an eight-month high on Tuesday, while the dollar rebounded from the previous day's losses a day after the Federal Reserve signaled it would continue its loose monetary policy. The U.S. dollar strengthened against the euro and the yen after Fed Chairman Ben Bernanke's dovish comments sent it tumbling in the previous session. U.S. stocks were little changed after a more than 1 percent rally lifted the S&P 500 to a four-year high on Monday. "Bernanke yesterday talked about the need for aggressive monetary policy and the dollar took a pretty good whack, so it's probably clawing some of that back," said Art Hogan, managing director of Lazard Capital Markets in New York. Bernanke said Monday accommodative monetary policy would stay in place to support demand and, over time, drive down long-term unemployment. He stopped short of signaling the start of a new round of asset purchases by the Fed. The S&P 500 is on track to close its best quarter since 2009 and its fourth straight month of gains. MSCI's main global stock index (.MIWD00000PUS) was up 0.2 percent after hitting its highest level since August 1. "Last week markets tried to price in a global economic slowdown but we're now seeing a slowdown, but not one that is unexpected," Hogan said. "We still believe there's a soft landing in China, Europe has stabilized and the U.S. continues to chug along at a sustainable rate." In morning trading, the Dow Jones industrial average (DJI:^DJI - News) dipped 4.80 points, or 0.04 percent, to 13,236.83. The S&P 500 Index (.INX) shed 0.14 point, or 0.01 percent, to 1,416.37. The Nasdaq Composite (NAS:^COMP) gained 4.30 points, or 0.14 percent, to 3,126.87. The pan-European FTSEurofirst 300 (FSI:^E3X) fell 0.5 percent, while U.S. dollar-denominated Nikkei futures jumped 1.2 percent. A private sector report showed U.S. consumer confidence dipped in March but was nearly in line with forecasts, while inflation expectations rose to the highest in 10 months. U.S. Treasuries prices added slight gains after the data, with the 10-year yield again below its 200-day average and at its lowest in two weeks. The benchmark 10-year U.S. Treasury note was up 13/32, with the yield at 2.2068 percent. Lower yields contributed to record-setting dollar amounts of U.S. corporate note and bond sales this quarter. With four days left, data from Thomson Reuters unit IFR show $274.5 billion were priced in investment grade deals, eclipsing the previous record for a first quarter of $272.3 billion in 2007 -before the credit crisis. This is the best quarter ever for high yield deals. At $88 billion, the amount beats the previous record of $85.3 billion set in the last quarter of 2010. Mar 27, 2012 15:36 OctaFX.Com News Updates OctaFX is proud to offer top-notch service level to its customers. Please stay tuned for the news and updates from OctaFX!

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OECD pushes for $1.3 trillion eurozone crisis fund OECD head urges euro countries to boost crisis fund to $1.3 trillion-plus to aid growth BRUSSELS (AP) -- The 17 countries that use the euro need to build a €1 trillion ($1.3 trillion) firewall to help the struggling currency union return to growth, the head of the Organization for Economic Cooperation and Development said Tuesday. Angel Gurria, the secretary-general of the Paris-based international development body, said existing plans for a €500 billion ($664 billion) European rescue fund were not enough to restore market confidence in the eurozone. "The mother of all firewalls should be in place," Gurria he told a news conference in Brussels, where he was flanked by Olli Rehn, the EU's economic affairs commissioner, who has also been pushing for a larger bailout fund. A permanent bailout fund of at least €1 trillion would give governments the breathing space to focus on kickstarting growth and restoring the competitiveness of their economies, Gurria added. As well as shoring up the financial defenses, the OECD chief pointed to a raft of economic reforms that individual countries should enact. According to the organization's annual report for the eurozone, which was released Tuesday, vulnerable states may need more than €1 trillion in aid over the coming two years and Gurria said eurozone finance ministers should take a decision to boost their bailout funds at their meeting in Copenhagen on Friday. Germany, the bloc's largest economy, signaled on Monday that it would support an increase to around €700 billion ($929 billion), but only until some €200 billion in loans already promised to Greece, Ireland and Portugal have been paid back. That falls below the recommendation of the International Monetary Fund and the European Commission, the European Union's executive. Both organizations believe a much bigger firewall will keep a lid on the pressure on Italy and Spain, the eurozone's third- and fourth-largest economies, which have a combined debt load of more than €2.5 trillion. "I am of the view that when you are dealing with markets you should overshoot," Gurria said. Germany's proposal may also not be enough to convince other large non-euro economies, such as China and the U.S., to give the IMF more resources, money that could be used to further protect Europe. Asked about the chances that Gurria's €1 trillion goal could actually be achieved on Friday, Rehn declined to give a clear answer. "I am confident that we can reach a convincing decision," he said, adding that discussions between euro states were still ongoing. Countries like Germany fear that easy access to financial support could stop countries from implementing reforms. They also point to the recent stabilization in financial markets. Credit for that has been given to the European Central Bank, which has pumped more than €1 trillion in cheap long-term loans into European banks. The OECD's Gurria warned of the perils of overconfidence. "We can still clearly not draw too much comfort from these signs of healing," he said, noting that there had been other brief moments of respite in Europe's two-year-old debt crisis. He warned that funding costs in several euro countries remain unsustainable, and — in what appeared to be a clear reference to Spain — have been creeping up again in recent weeks. Gurria also suggested that the ECB could intervene more aggressively in the bond markets of struggling countries if market pressures resurface — a step that the central bank has been reluctant to take so far. Mar 27, 2012 08:56 OctaFX.Com News Updates

Euro gains versus dollar, yen; Bernanke triggers new quantitative easing talk NEW YORK (Reuters) - The euro advanced against the dollar and yen for a second straight day on Monday as weaker-than-expected U.S. data and Federal Reserve Chairman Ben Bernanke's cautious comments on the job market spurred expectations for more policy easing. The single currency hit a better than three-week high against the greenback and jumped more than 1 percent against the yen. Still, analysts said the euro zone's debt crisis was far from over and the currency could come under pressure this week. Bernanke's warning that the U.S. economy needs to grow faster to get unemployment down led investors to take on more risk on hopes the central bank could conduct another round of quantitative easing. Disappointing home sales data reinforced that outlook later on Monday, with contracts to purchase previously owned U.S. homes unexpectedly falling in February. "All this left the market with the nagging thought that the Fed is not quite done with economic stimulus," said Boris Schlossberg, director of FX Research at GFT in Jersey City, New Jersey. "I think they have not in any way, shape or form eliminated that possibility." News from Europe also helped the single currency, with German Chancellor Angela Merkel giving veiled approval to an expected increase in the region's financial firewall this week, with finance ministers meeting in Copenhagen on March 30-31. The euro advanced 0.5 percent to $1.3331 on Monday and touched its highest since March 1. Against the yen the single currency jumped as high as 110.54 yen before more recently trading at 110.44 yen, up 1.1 percent. The dollar also slid against the Swiss franc, off 0.5 percent to 0.9035 francs. The dollar's session trough against the Swiss franc was the lowest since March 2, according to Reuters data A number of events this week could help clarify how well policymakers are managing problems in the euro zone. They include bond auctions in Italy and Spain's budget on Friday. Italy hopes to raise up to 7.5 billion euros amid renewed pressure on peripheral euro zone debt. Worries are also growing about Spain after a government setback in regional elections, making Prime Minister Mariano Rajoy's task of pushing through harsh spending cuts more difficult. "Really we've made a big stride but we haven't actually solved the problems" in the euro zone, said Camilla Sutton, chief currency strategist at Scotia Capital. The euro could see recurring bouts of selling through the year as those worries persist, she added. DOLLAR FIRMER AGAINST YEN The dollar advanced against the Japanese currency, gaining 0.6 percent to 82.81 yen. Traders said they would prefer to buy the dollar and sell the yen, with repatriation inflows ahead of the Japanese fiscal year-end on March 31 unlikely to change the bearish sentiment toward the Japanese currency over the medium term. "We are expecting the dollar/yen pair to trade in a 80-85 yen range with a risk of an upside break. A lot will depend on whether the economies outside the U.S. also pick up," said Paul Robson, currency strategist at RBS Global Banking. "As long as the U.S. economy shows signs of outperforming the others, the dollar would be supported." The growth-linked Australian dollar was up 0.5 percent at $1.0514, recouping some of last week's 1.2 percent decline. Mar 26, 2012 18:35 OctaFX.Com News Updates

Dollar falls against euro after Bernanke commentsDollar falls against euro after Bernanke says US job market is still weak NEW YORK (AP) -- The dollar fell sharply against the euro Monday after Federal Reserve Chairman Ben Bernanke said that the U.S. job market is still weak despite recent signs that it is improving. Traders interpreted Bernanke's comments to mean that the Fed will keep interest rates near zero. Lower interest rates tend to weigh on a currency by reducing the returns investors get from holding it. Bernanke's comments were made during a speech at the National Association for Business Economics. The euro rose to $1.3333 in afternoon trading from $1.3263 late Friday. The central bank has kept interest rates near zero since cutting them during the financial crisis in December 2008. The Fed keeps rates low in order to help the economy recover. Despite improvements in the job market, Bernanke said that he doesn't expect the unemployment rate to keep falling. Employers added an average of 245,000 jobs a month from December through February. And the unemployment rate was at 8.3 percent in February, down from 9 percent during the same month a year ago. In other trading, the British pound rose to $1.5926 from $1.5871. The dollar fell to 0.9034 Swiss franc from 0.9086 Swiss franc and to 99.22 Canadian cents from 99.85 Canadian cents. The dollar rose to 82.77 Japanese yen from 82.49 yen. Mar 26, 2012 15:49 OctaFX.Com News Updates

Euro up versus dollar, yen as Bernanke fans QE hopes NEW YORK (Reuters) - The euro advanced against the dollar and the yen on Monday as weaker-than-expected U.S. data and Federal Reserve Chairman Ben Bernanke's cautious comments on the job market spurred hopes for more easing ahead, boosting riskier assets. The single currency hit a better than three-week high against the greenback and jumped more than 1 percent against the yen. Bernanke's warning that the U.S. economy needs to grow faster to get the unemployment rate down boosted hopes early in the session that the bank could yet conduct another round of quantitative easing. Disappointing home sales data reinforced that outlook later on Monday, with contracts to purchase previously owned U.S. homes unexpectedly falling in February. "All this left the market with the nagging thought that the Fed is not quite done with economic stimulus," said Boris Schlossberg, director of FX Research at GFT in Jersey City, New Jersey. "I think they have not in any way, shape or form eliminated that possibility." News from Europe also helped the single currency, with German Chancellor Angela Merkel giving veiled approval to an expected increase in the region's financial firewall this week, with finance ministers meeting in Copenhagen on March 30-31. The euro advanced 0.41 percent to $1.3325 on Monday and touched its highest since March 1. Against the yen the single currency jumped as high as 110.54 yen before more recently trading at 110.37 yen, up 1.01 percent. The dollar also slid against the Swiss franc, off 0.39 percent to 0.9042 francs. Still, analysts said the region's debt crisis is far from over. A number of events this week could help clarify how well policymakers are managing those problems, including bond auctions in Italy and Spain's budget on Friday. Italy is seeking to raise up to 7.5 billion euros amid renewed pressure on peripheral euro zone debt. Worries are also growing about Spain after a government setback in regional elections, making Prime Minister Mariano Rajoy's task of pushing through harsh spending cuts more difficult. "Really we've made a big stride but we haven't actually solved the problems" in the euro zone, said Camilla Sutton, chief currency strategist at Scotia Capital. The euro could see recurring bouts of selling through the year as those worries persist, she added. DOLLAR FIRMER AGAINST YEN The dollar advanced against the Japanese currency, gaining 0.62 percent to 82.82 yen. Traders said they would prefer to buy the dollar and sell the yen, with repatriation inflows ahead of the Japanese fiscal year-end on March 31 unlikely to change the bearish sentiment toward the Japanese currency over the medium term. "We are expecting the dollar/yen pair to trade in a 80-85 yen range with a risk of an upside break. A lot will depend on whether the economies outside the U.S. also pick up," said Paul Robson, currency strategist at RBS Global Banking. "As long as the U.S. economy shows signs of outperforming the others, the dollar would be supported." The growth-linked Australian dollar was up 0.64 percent at $1.0525 after a fall last week. Mar 22, 2012 00:49 OctaFX.Com News Updates OctaFX is proud to offer top-notch service level to its customers. Please stay tuned for the news and updates from OctaFX!

We at OctaFX value our IBs and build our cooperation on honest and transparent basis. Here is a brief overview of the IB conditions. Please make sure to read and understand the IB Agreement prior to becoming an OctaFX IB. How to become an IB? Open a partner account at OctaFX Receive your referral link in the "IB Area" section of your Personal Area at OctaFX That's it, you are now an IB for OctaFX What is my IB commission? The commission is: For Micro accounts: 30% of spread For ECN accounts: 25% of spread How is the commission calculated? Here is an example for you: Commission = order volume * pip price * spread * per cent rate (30% or 25% depending on the account type). Let's say your client has a micro account and has just closed a 3 lot EUR/USD order. Order volume 3 lots Currency pair EUR/USD Account type Micro Spread 1 pip Pip price 10 USD Commission 3*10*1*30% = 9 USD You can view all the minimal and typical spreads for Micro and ECN accounts in "Spreads and trading conditions" section. What you SHOULD do? There is a number of gold old ways to attract clients and make them open accounts via your referral link. Here are some of them: post your referral link in forums, social networks and blogs. Be an active participant in forum discussions, our groups in Facebook and Twitter, talk to people, answer their questions. Alternatively you can create your own website and promote your referral link in your own language in your country. What you CAN'T do? You can't use any kind of illegal advertizing, spam, spamdexing, use adult or illegal websites, deceive or mislead people in any way or do anything which may harm the company's good name and reputation. What else should I know? Please be aware that the only and the final legal document that regulates the relationship between the broker and the IB is the IB Agreement. It sets forth the rules for IBs, explains IB commission and payouts, stages of IB program and other aspects of Introducing Broker activity. Please make sure to read and understand the IB Agreement prior to opening an IB account at OctaFX.

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Euro zone seeks middle ground on rescue fund size BRUSSELS (Reuters) - Euro zone finance ministers are moving closer to agreeing a combined rescue fund of around 700 billion euros ($924 billion) in Copenhagen next week and anything higher would probably be too ambitious, euro zone diplomats said on Friday. The EU's top economic official, Olli Rehn, is pushing for a big fund capable of bailing out indebted euro zone countries such as Italy and Spain, should they be cut off from the markets, despite resistance in Germany, the bloc's paymaster. So far, Germany has refused to countenance any combination of the various rescue funds. In a final push to press Berlin and others to go further, the European Commission circulated a document to member states this week in Brussels, proposing an increase to as much as 940 billion euros. But three diplomats said that was unrealistic, as the European Central Bank has already injected 1 trillion euros in stimulus to banks, and EU governments have committed to tough economic reform and fiscal discipline to calm financial markets. "Officials are moving towards the middle ground of giving the combined fund a lending capacity of 700 billion," said one euro zone diplomat who had seen the Commission report that was also obtained by Reuters. Finance ministers and central bankers will discuss the size of a bailout firewall in Copenhagen next Friday. That would likely be made up of the European Financial Stability Facility (EFSF) that had been due to be wound up next year, and the European Stability Mechanism (ESM) permanent fund that was set to replace it. The 440 billion euro EFSF and the 500 billion euro ESM now have a combined lending ceiling of 500 billion euros, which means that in the 12 months from July, when they will co-exist, they would not be able to lend beyond that limit. Last week, senior euro zone officials told Reuters that the 17-nation currency area is likely to agree on a combined fund of almost 700 billion euros in a trade-off between German opposition to more funds and the need to reassure investors. "The signals we are getting is that Germans are going to come on board," said another diplomat. WHAT BERLIN WANTS Under the Commission's central proposal, the two funds would be allowed to add up to 940 billion euros, transferring the EFSF's remaining firepower into the ESM. That means the lending capacity of the ESM would be 740 billion euros, taking out existing emergency loans to Portugal, Greece and Ireland. "The markets would be most likely to consider the new lending capacity sufficient and the brunt of the stabilization effort would no longer fall on the ECB," the report said. The Commission hopes that would help motivate other major global powers such as the United States and China to give more funds to the International Monetary Fund to deal with any further fallout from the debt crisis. Two other proposals sketched out by the EU's executive include one that would allow the EFSF and ESM to operate independently of one another until the EFSF is wound down next year. That would also equate to a joint-lending capacity of 740 billion euros but only until the EFSF is closed. A third alternative would be to disband the EFSF ahead of 2013, making the ESM responsible for all lending. This model would see total lending capacity at 500 billion euros. "The question is what Germany might want in return to agreeing to a bigger firewall, be it more austerity from member states, or a German in one of the top posts soon to be vacant in the EU," said a third diplomat. European governments are jostling for four coveted jobs, including the post of coordinating policy between euro zone finance ministers, known as the president of the Eurogroup. Germany has put forward its finance minister, Wolfgang Schaeuble, for the influential post, sources told Reuters this month, although that move may also be a negotiating ploy. Mar 22, 2012 00:49 OctaFX.Com News Updates

Euro hits 3-week high vs dollar; Aussie steadies NEW YORK (Reuters) -NEW YORK (Reuters) - The euro rose to a three-week high against the dollar on Friday after three straight days of losses while the Australian dollar stabilized from its recent plunge as concerns over a slowdown in China and the euro zone eased slightly. Despite the dollar's weakness it remains supported by an improving economic landscape in the United States that contrasts starkly with other countries across the Atlantic that are teetering on the brink of recession or actually in one. New U.S. home sales data on Friday backed the view the housing sector is on a stable path to recovery. "This could probably be position-squaring in euro/dollar after the selling we had seen the last few days," said Brian Kim, currency strategist, at Royal Bank of Scotland in Stamford, Connecticut. "There has really been no bad news out of Europe overnight, so people I think are just preparing for next week's European finance ministers' meeting where they will discuss increasing the euro zone bailout fund." Overall, worries about faltering global growth in the euro zone and China, which had hit stocks and riskier currencies a day earlier, eased off slightly, tempering demand for safer bets such as the dollar and the yen. The relationship between risk appetite and the dollar has become more complicated, according to Chris Fernandes, vice president, senior foreign exchange advisor for the capital markets division, at Bank of the West in San Ramon, California. "Whereas in the past the dollar would tend to fall as risk appetite was rising, the dollar is now benefiting from pro-risk developments, as U.S. economic data has generally bested expectations recently," he said. The recent dollar rally, however, has been tempered by the prospect of the Federal Reserve launching a third round of quantitative easing, which is still on +the table, said Fernandes, who helps oversee almost $10 billion in assets under management. If the Fed unleashes a third round of quantitative easing, that would be negative for the dollar, as it is tantamount to printing money and dilutes its value. The greenback has gained 7 percent against the yen since the start of this year. The euro has jumped 9.6 percent versus the Japanese currency, with gains picking up after the Bank of Japan surprisingly eased policy by announcing more quantitative easing in February. The euro last traded at $1.3264, up 0.5 percent, retreating from a three-week high of $1.3293 hit earlier in the global session, but up from Thursday's low of $1.3133. It is on track for a second consecutive weekly gain. A key level of resistance for the currency pair is $1.33 and a break of that level would likely move it up towards $1.3500. "I believe we may be in for a bit of range-trading right now in the major currency pairs, with the EUR/USD moving between $1.3000-1.3500, and the USD/JPY having a bit more upside, looking at 82.00-85.00," said Bank of the West's Fernandes. The greenback was down 0.2 percent at 82.34 yen. Euro zone finance ministers are moving closer to agreeing a combined rescue fund of around 700 billion euros ($924 billion) in Copenhagen next week and anything higher would probably be too ambitious, euro zone diplomats said on Friday. A larger euro zone rescue fund would go a long way toward reassuring markets a viable firewall is in place should Portugal, Italy or Spain continue to struggle. "I am still favoring a stronger EUR, but we may not see this come to fruition until the second half of this year," said Bank of the West's Fernandes. The Australian dollar, meanwhile, was up 0.6 percent at US$1.0454 after hitting a two-month low of US$1.0336 the previous session. Mar 23, 2012 11:49 OctaFX.Com News Updates

Stocks slip on growth worries, bonds rise NEW YORK (Reuters) - World stocks drifted lower on Friday, pulled down by a decline in U.S. home sales as concerns about global growth cooled enthusiasm. Commodity prices ticked higher on the belief the prior day's sell-off in risk assets was overdone. The Commerce Department said sales of new single-family homes slipped 1.6 percent in February to a seasonally adjusted 313,000-unit annual rate. January's sales pace was revised down to 318,000 units from the previously reported 321,000 units. U.S. government debt prices rose for the fourth day in a row, reversing more of last week's losses, as concerns about the economic picture in China and Europe competed with improved U.S. employment for investors' attention. The benchmark 10-year U.S. Treasury note was up 18/32 in price to yield 2.21 percent. Wall Street opened mixed, but then fell on the U.S. home sales. European and global stock indices were lower. The belief that equity markets have gained to much in too short a time has dampened investor sentiment. The benchmark S&P 500, on track for its first weekly decline in six weeks, has gained more than 10 percent so far this year and almost 30 percent since its October lows. "We are all looking for a correction in the markets and that is what we are getting at the moment," said Frank Lesh, a futures analyst and broker at FuturePath Trading LLC in Chicago. "It's not a deep and serious correction, but we were a bit overbought and we could just move sideways to slightly lower to correct that, and it appears that is what we are doing." The Dow Jones industrial average (DJI:DJI) was down 11.24 points, or 0.09 percent, at 13,034.90. The Standard & Poor's 500 Index (MXP:SPX) was down 1.68 points, or 0.12 percent, at 1,391.10. The Nasdaq Composite Index (NAS:COMP) was down 13.33 points, or 0.44 percent, at 3,049.99. The MSCI world equity index <.MIWD00000PUS> was off 0.1 percent, while a measure of top European stocks <.FTEU3> lost 0.8 percent and emerging markets <.MSCIEF> fell 0.5 percent. The dollar has been supported by an improving U.S. economic landscape that contrasts with the euro zone, where most economies are either teetering on the brink of or in recession. The euro was up 0.37 percent at $1.3245, and the U.S. Dollar Index <.DXY> down 0.36 percent at 79.448. The relationship between risk appetite and the dollar has become more complicated, according to Chris Fernandes, vice president, senior foreign exchange adviser for the capital markets division at Bank of the West in San Ramon, California. "Whereas in the past the dollar would tend to fall as risk appetite was rising, the dollar is now benefiting from pro-risk developments, as U.S. economic data has generally bested expectations recently," he said. Brent oil was up $1.84 at $124.98 a barrel, underpinned by worries that military conflict with Iran will hit supplies and create an oil price spike. U.S. light sweet crude oil rose $1.30 to $106.65 a barrel. The Reuters/Jefferies CRB Index <.CRB> of leading commodity prices was up 0.6 percent at 314.04. Mar 23, 2012 10:29 OctaFX.Com News Updates

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Australian Dollar Sold as Dovish RBA Cuts Hopes for Future Rate Hike LONDON (Reuters) - World stocks hit their lowest in over a week on Thursday and Wall Street was set open in the red as manufacturing slumps in China and the euro zone fuelled global growth concerns. The downbeat data triggered flows back into safe-haven assets that boosted German government debt, while it also sent the euro lower and left the common currency looking vulnerable to further losses. The HSBC flash Purchasing Managers' Index, the earliest indicator of China's industrial activity, fell to 48.1 in March from February's four-month high of 49.6. The euro zone's leading economies Germany and France both reported an unexpected contraction in manufacturing activity. [nL9E7J203Z], sending Markit's Composite PMI for the region down to 48.7 in March from 49.3 in February. Anything below 50 is viewed as a contraction. "When you get numbers like this out of the euro zone it definitely puts the growth outlook into question and points to a mild recession," said Niels Christensen, currency strategist at Nordea in Copenhagen. "There should be a widening of rate differentials in favor of the dollar, so a lower euro/dollar will be the result". MSCI's main world equity index <.MIWD00000PUS> fell 0.4 percent to its lowest in eight days after hitting its highest level since August earlier in the week. U.S. stock index futures <.NDc1> pointed to losses of 0.5-0.6 percent at the Wall Street open. Recent comments by the U.S. Federal Reserve have cut expectations of further quantitative easing, or asset buying. Previous rounds of QE had supported risky assets. "Everyone was so focused on Greece and the debt crisis is still on everyone's mind, but attention is focusing back on to fundamentals," said DZ Bank rate strategist Michael Leister. "The PMIs alone don't make for such a big story but they fit into the bigger picture risk-off theme that we're seeing." European stocks <.FTEU3> weakened for a fourth straight session, heading for their longest negative run in four months. They fell 1 percent to 10-day lows and emerging stocks <.MSCIEF> fell 0.4 percent to two-week lows. The euro dropped 0.4 percent against the dollar to $1.3162 and 1 percent against the yen to 109. The dollar lost 0.7 percent to 82.79 yen although it gained 0.2 percent against a basket of major currencies <.DXY>. Brent crude oil was down 0.5 percent at $123.55 a barrel. Mar 06, 2012 04:09 OctaFX.Com News Updates

USD Rises but Mounting Global Risks Keeps FX Pressured With the U.S. dollar and the Japanese Yen being the best performing currencies this morning, it is clear that mounting risks in the financial markets has raised the level of fear. A series of negative economic reports overnight from China, the Eurozone and the U.K. was compounded by softer data from Canada. Retail sales rose 0.5 percent in January, which a marked an improvement from flat growth in December but was a major a disappointment compared to the market's 1.8 percent forecast. Excluding auto purchases, sales declined by 0.5 percent. The U.S. only country that continues to print good news. Jobless claims dropped to its lowest level since February 2008. Weekly claims fell 5k to 348k after a downward revision to the prior's week report. The level of jobless claims is consistent with continued job growth in the U.S. economy and as long as claims remain below 375k on a weekly basis, there is no reason for the Fed to be overly concerned. The recovery is still "frustratingly slow" according to Bernanke but currency traders are satisfied that the U.S. economy is improving at all. U.S. leading indicators will be released later this morning and with claims falling and stocks rising, we expect another positive report. The U.S. dollar is outperforming every major currency except for the Yen because better than expected U.S. data and risk aversion is a win win for the dollar. The string of weaker economic economic data outside of the U.S. has made America look a shining star to investors. Fed President Bullard's comment about the higher risk of inflation this year also helped to lift the greenback. If bad news begets more bad news abroad, we could see greater demand for dollars. The Chinese government has officially come to terms with slower growth and while their economy may be able to handle it, the Australian and New Zealand economies may not. If Chinese demand pulls back more than it has already, the Reserve Bank of Australia may have to lower interest rates over the next few months and this risk has drive the Australian dollar sharply lower. At the same time, the Eurozone is suffering from weaker domestic and external demand. The sharp decline in the PMI reports flashes signs of a technical recession in the Eurozone. 48 hours ago, we penned a report talking about how the dollar can't lose because even if the U.S. recovery loses momentum, the outlook for other countries is even worse. In Europe, the rise in Italian and Spanish 10 year bond yields raises fresh concerns about the funding capacity of the Eurozone’s #3 and #4 economies. If the EUR/USD will have a very tough time recovering if European bond yields continue to rise. Mar 22, 2012 00:49 OctaFX.Com News Updates