As the dust from the Non-Farm Payrolls sets, it’s time to sit back and relax on some long-term forex-related articles for this long weekend. Here are my picks from the web.
It was a very busy week indeed. Apart from a packed calendar and the Non-Farm Payrolls, the Bank of International Settlements officially released its triennial survey stating that forex trading reached a daily volume of 4 trillion dollars. I’ve reported this almost a month ago, and now it’s official.
And if this wasn’t enough, the new 50:1 leverage CFTC rules were presented and created lots of discussions on the web. This is a significant change to the American (and also global) forex industry. Here are interesting reactions on both stories and more:
- Katie Martin, on WSJ, doubts the notion of a “new brave world in currencies” following the news about the BIS triennial survey..
- Adam Kritzer analyzes this official release and sees an increase in emerging / exotic currencies.
- Michael Greenberg reports that FXCM is worried that the new CFTC rules will prevent US traders from having foreign accounts. Will they classify foreign brokers with the same code that is used for gambling?
- Bart Mallon looks at the next step regarding the new rules – the role of the NFA in registering brokers and placing requirements.
- Francesc Riverola reminds us that the “Forex Trader of the Year” contest of real accounts begins on Monday. You can still sign up.
- Kathy Lien provides “the best reason” to buy Euros.
- Andriy has an open poll asking where the Euro will end 2010.
- Macro Man summarizes the summer and sees that the collective wisdom of his readers was accurate about EUR/USD and most other indices.
- Sophia Todorova, on Casey’s site, deals with an issue that many traders fall upon – self-sabotaging.
That’s it for now. Some of you have a really long Labor Day weekend. Have a great one!
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