MORNING BRIEFING: RTFX launches its new applications

[RTFX-Trading]

MORNING BRIEFING: RTFX launches its new applications
    
What’s new?
Euro zone: Means put in place to support Greece are very vague.
Euro zone: Greece must take additional steps according to ECB.
Euro zone: The recovery has stalled in the fourth quarter of 2009.
United States: Markets closed today for President's Day
Shanghai: Chinese New Year
RTFX: RTFX launches its new applications

Today:


Overnight Rates and Indices:
EURUSD: 1.3631 – 1.3579.
USDCHF: 1.0804 – 1.0753.
GBPUSD: 1.5689– 1.5612.
EURJPY: 122.89– 122.39.
USDJPY: 90.23 – 89.94.
DowJones: 10'099.14 -0.44%
NASDAQ: 2’183.53 +0.28%
S&P 500: 1’075.51 -0.27%
Nikkei: 10'013.30 -0.78%
Shanghai: Closed
Gold: $1'092.45
Crude Oil: $72.90

Comments:

Despite the real risks in Europe to see a country in default of payments, the comments from the Friday meeting in Brussels from the leaders of the member states of the euro zone have not specified any concrete measures to solve the situation in Greece, showing indecision in how to deal with this serious crisis. The European Central Bank have recommended to Greece to take additional measures to fight against their budget deficit together with the downward revision of GDP figures for the first 3 quarters of 2009 have only heightened the market’s fears. The meeting this afternoon in Brussels of ministers of finance and economy of the 16 European countries of the euro area should again address the situation in Greece, but also the future election of Vice-President of the ECB, replacing Mr. Lucas Papademos.

Greece is not suffering alone; the recovery in the fourth quarter of 2009 has also slowed down in other European countries. The economic data including GDP published Friday in Europe have shown that the German economy has stagnated, while Spain and Italy have seen their business shrink.

The United States markets will be closed this afternoon for the President's Day, which should give some respite to the euro, while Shanghai was closed this morning to celebrate the Chinese New Year.

For the ten year anniversary of RTFX and the first year in Malta, RTFX is proud to announce many improvements, including the choice between spreads ECN (Electronic Communication Network) and fixed spreads, tighter spreads on most currency pairs, the introduction of "Trailing Stop", lowering the minimum opening account 1000Euro to name a few.

Good Day.

Pascal Bovay
Trading Desk
RTFX Ltd
Risk Disclaimer