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| Forex Basic
The presented Forex tools can assist you both in technical analysis and money management which will greatly enhance your trading results. All these online Forex tools are totally free and can be used at no cost:
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MT4 Forex Indicators — Free downloads of the MetaTrader indicators for a Metatrader 4 trading platform. You can use these indicators to improve your Forex trading strategy or develop your own MetaTrader 4 expert advisors.
Pivot Points Calculator — Four online web based pivot points calculators will help you to generate pivot points for any given time period. Pivot points are used to as the most important market trend points, where trend can meet support or resistance and actually change its course. Floor, Tom Demark's, Woodie's and Camarilla pivot points building rules are available with this free calculator. You don't need to download any software, just fill the form and get instant pivot point, resistance and support levels.
Pip Value Calculator — How much is one pip? How about EUR/CHF or CAD/JPY? With this free and fast online tool you can find out the value of 1 pip in USD for any lot size and any major or cross currency pair. Fill the form and get the pip value in one moment. No need to download any software!
Fibonacci Calculator — The web based Fibonacci retracement calculator will help you to generate basic Fibonacci retracement values for any given trend. These retracement values can be used as the most natural points of support and resistance for a given trend for any currency pair. On the currency trading market, the use of Fibonacci retracement levels to set orders and targets is one of the best ways to organize trader's portfolio.
Risk and Reward Forex Calculator — online calculator that will help you to find out the risks and rewards associated with your possible position's targets and stop-losses based on the Fibonacci retracement levels of the current market wave.
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Officials from 126 countries will gather at the United Nations headquarters in New York Wednesday as a three-day conference on reforming the global financial system begins.
Only 14 heads of state and government are scheduled to attend, including two leftist Latin American presidents: Venezuela's Hugo Chavez and Bolivia's Evo Morales. Other nations are sending low-level delegations.
The developing nations participating in the conference are calling for the U.N. to play a greater role in the global financial system. Martin Knor, the head of a Geneva-based research organization, South Center, says developing nations have borne the brunt of the current economic crisis, but feel shut out from "exclusive clubs" of developed economic nations, such such as the Group of Eight and Group of 20.
The conference has been organized by U.N. Assembly President Miguel D'Escoto Brockman of Nicaragua. The participants have been negotiating a final document that will spell out what role the world body could play in reforming the global financial system, as well mechanisms to assist developing countries.
Some information for this report was provided by AFP, AP and Reuters.
The United States and the European Union filed complaints with the World Trade Organization Tuesday, accusing China of restricting exports of key raw materials used in the steel and chemical industries.
U.S. Trade Representative Ron Kirk says China is a leading producer of these raw materials - including bauxite, coke, fluorspar, magnesium, manganese, silicon metal, silicon carbide, yellow phosphorus, and zinc. He says by limiting access to these materials, China is giving its own businesses an unfair advantage.
This is the first trade complaint that the United States has lodged against China since U.S. President Barack Obama took office.
Kirk says the U.S. must fight this type of domestic favoritism "now, more than ever."
The U.S. and EU say still they hope to resolve the dispute through dialogue.
The U.S. and China have taken other trade disputes to the World Trade Organization.
In April, China filed a complaint against the U.S. over a law banning Chinese poultry imports.
Earlier this year, the WTO ruled against China on some aspects of U.S. complaints about copyright infringements (over allegations China was illegally copying U.S. movies, music, software and luxury goods.)
Some information for this report was provided by AFP, AP and Reuters.
U.S. President Barack Obama is defending a proposed new agency designed to protect American consumers against deceptive practices by the financial services industry.
In his weekly address Saturday, Mr. Obama says a breakdown in government oversight led to an "epidemic of irresponsibility" from Wall Street to Washington, ultimately triggering the current economic crisis.
The president proposed a set of new regulatory reforms earlier this week, including a new Consumer Financial Protection Agency. He says the new agency will have the power to set tough new rules to force companies to offer innovative products that Americans can understand.
Mr. Obama says his proposals are facing strong opposition from the business community. But he warns that he is ready to fight them to prevent a similar crisis from happening again.
In their weekly address, opposition Republicans are strongly criticizing Democratic efforts to overhaul the U.S. health care system. Senate Republican leader Mitch McConnell argues that the Democratic proposals would lead to higher deficits and hurt the economy.
He referred to a recent study by the Congressional Budget Office that two competing Democratic plans would cost over $1 trillion over 10 years.
The cost of living in the United States has fallen at the sharpest rate in about six decades.
Wednesday's report from the Labor Department is fresh evidence that the recession is keeping businesses from raising prices and workers from demanding raises.
The data show that the U.S. consumer price index fell 1.3 percent in the 12-month period that ended in May. While costs fell for the year, there was a slight increase in prices (one-tenth of a percent) in May.
The recession is also cutting U.S. trade with the rest of the world. A Commerce Department report Wednesday says U.S. exports and imports dropped sharply.
The gap between the value of goods and services Americans buy from foreigners and what they sell abroad (the current account deficit) shrank to just over $100 billion for the first three months of this year.
Meanwhile, two of the world's top package delivery companies say the worst of the recession may be over.
Many economists look at U.S.-based United Parcel Service and FedEx as bellwethers because consumers and businesses send more packages when economic conditions are good.
FedEx said Tuesday it expects the next six months will be "extremely difficult" but that the company's fortunes should improve by early next year.
FedEx says revenue for the three months ending in May, $7.85 billion, fell 20 percent compared to the same time last year.
On Tuesday, UPS Chief Executive Scott Davis predicted the recession would be over by the end of the year.
Some information for this report was provided by AP and Reuters.
U.S. unemployment surged to a 25-year high of 9.4 percent in May, although the pace of job losses slowed.
Friday's report from the Labor Department says 345,000 jobs were lost last month - the lowest number since last September.
The new data helped send key world stock indexes higher, and oil prices climbed above $70 a barrel for the first time since September on hopes the lower-than-expected figures could indicate the worst of the recession may have passed.
However, the high unemployment rate suggests employers are still reluctant to hire new workers until there are more signs the recession is coming to an end.
By Deborah Tate
Capitol Hill
05 June 200
U.S. President Barack Obama said he hopes General Motors will emerge quickly from bankruptcy protection and he pledged another $30 billion in U.S. government assistance to help the automaker recover.
The president said he sees GM's bankruptcy filing not as a failure, but as the start of a new company.
"…a new GM that can produce the high quality, safe and fuel efficient cars of tomorrow, that can lead America to an energy independent future, and that is once more a symbol of America's success," he said.
General Motors was once the largest auto manufacturer in the world. But sales have plummeted in recent years, while the cost of production has risen. Bad management decisions have made the situation worse, and the current economic recession has put the future of the company in doubt.
The government stepped in earlier this year with a $20 billion emergency loan. And in late March, President Obama told General Motors it would have until June 1 to negotiate a restructuring plan with unions, creditors, and other stakeholders.
The president said the bankruptcy filing will enable the company to get rid of bad assets and a mountain of debt and set off on a new course.
"What we have then is a credible plan that is full of promise. But GM cannot put this plan into effect on its own," he said.
Speaking at the White House just hours after General Motors filed for bankruptcy protection, the president noted other countries have agreed to help company's foreign operations.
But he stressed that ultimately, responsibility for the future of General Motors and its tens of thousands of American employees rests with the United States.
"That is why our government will be making a significant additional investment of about $30-billion in GM - an investment that will entitle American taxpayers to ownership of about 60 percent of the new GM," he said.
President Obama said Washington will monitor the government's investment in the company, much as a brokerage house keeps watch on the investments of its clients.
Republicans in Congress quickly made it clear they were not in favor of continuing government bailouts for the auto industry. The Republican leader of the U.S. House of Representatives, John Boehner, questioned if politicians in Washington would be able to "successfully steer a multi-national corporation to economic viability."
President Obama said the administration will not take over day to day operations of General Motors, and intends to sell its shares as soon as possible.
"In short, our goal is to get GM back on its feet, take a hands-off approach and get out quickly," Mr. Obama said.
The president said in many ways the process will mirror the experiences of the Chrysler Corporation, the number-three American automaker, which is just emerging from bankruptcy protection.
Mr. Obama said a new, stronger Chrysler is emerging, and predicts General Motors will do the same, signaling the start of a dramatic turnaround in the U.S. automobile industry.
But while his public comments are full of hope, White House officials are warning the government's generosity is not without limits. They make clear this is GM's last chance for survival.
When asked if the government might be willing to pour more money into the beleaguered automaker, one top administration official said bluntly "this is it."
