The Euro declined against most of its major counterparts today following deeply negative Current Account data and news that the European Central Bank would be lending a record €442 billion to banks for 12 months, and this was just the first of three auctions. The ECB’s move is somewhat contradictory to comments from ECB council member Axel Weber, who said that the central bank had “used the room for rate reductions that was created by waning inflation risks and a dramatic worsening of the economic situation.” While the auctions are certainly not the same as lowering interest rates, the amount allotted today will ultimately have much the same effects as improved liquidity should lead money market rates to decline and should provide the necessary credit for struggling businesses and consumers. Meanwhile, the euro surged against the Swiss franc today in what looks like intervention by the Swiss National Bank, though they would neither confirm nor deny the speculation. The SNB has said multiple times in the past that they would do so, as an appreciation of the Swiss franc against the euro threatens to increase deflation risks since the Euro-zone is Switzerland’s biggest trading partner. That said, EUR/CHF made an important break above a falling trendline connecting the July, August, and December 2008 highs near 1.5200 and also pushed out of its recent trading range of 1.5000-1.5235, suggesting that this could be a bit of a change in trend for the pair.

Leading Global Forex Firm Targets the German Market
For Immediate Release:Media Contact: Jaclyn Sales, jsales@fxcm.com
April 8, 2009―Forex Capital Markets Ltd. announced the launch of the firm’s German desk. With this expansion, FXCM will strive to provide superior personalized customer support in German.
Because of FXCM’s access to highly competitive prices from our relationships with some of the world’s largest banks, and as a premier “No Dealing Desk” or agency execution forex firm focusing on German traders, FXCM offers clients no dealer intervention and tight spreads as low as 1 pip.
Through FXCM’s UK entity―regulated by the FSA― the FXCM German Desk will provide a variety of currency trading products, services, education, and a CFD product to launch in late 2009. FXCM will aim to deliver the best forex trading technology, resources, and customer service in German. Benefits of Trading with FXCM• No Dealing Desk execution• No requotes from dealer• Spreads as low as 1 pip• Easy to use platform―fully customizable look and feel with integrated charts• Customer service in German• Regulated in six international jurisdictions: U.S., UK, Canada, Hong Kong, France, and AustraliaContact FXCM’s German Desk Manager, Jonathan Baumgart by e-mail at info@fxcm.de for more information.
Country Specific Toll-Free NumbersGermany: 0800-101-4751 Switzerland: 00-800-2233-4466 Austria: 0800291095 Main Line: +44 207 398 4050E-mail: info@fxcm.de Web site: http://www.fxcm.de/ # # #FXCM Holdings LLC Facts• FXCM Holdings LLC has over $100 Million in capital.• More than 125,000 live accounts are traded on FXCM trading platforms• As of January 2009, an average of $500 billion in notional volume is traded each month on FXCM trading platforms• As of January 2009, in excess of $600 million in customer funds trading on platforms offered by FXCM • Forex Capital Markets Limited is regulated by the Financial Services Authority in the UK.Leveraged foreign exchange trading carries a high level of risk, and may not be suitable for all investors.FXCM focuses on retail and institutional forex services as well as white-label partnerships. FXCM is always looking to expand its affiliate network.

Global Forex Firm Expands Krone Pair Offerings for Nordic Region
For Immediate Release:Media Contact, Jaclyn Sales jsales@fxcm.com London, 17 June 2009― Forex Capital Marakets Ltd. (www.fxcm.co.uk) announced they now offer 10 different krone crosses to be traded on the FXCM trading platforms. FXCM strives to be the premier forex provider for the Nordic region. Accessing highly competitive prices from relationships with some of the world's largest banks, and as a premier "No Dealing Desk" or agency execution forex firm focusing on the Nordic countries, FXCM offers clients no dealer intervention and tight spreads as low as 1 pip. To further support the Nordic trading community FXCM now offers 10 different krone crosses:
Swedish Krona Pairs
Norwegian Krone Pairs
Danish Krone Pairs
EUR/ SEK
USD/NOK
USD/DKK
USD/SEK
EUR/NOK

CHF/SEK
CHF/NOK

GBP/SEK
NOK/JPY

SEK/JPY


Please note: Margin is 2%, meaning 50 times leverage. Currently these crosses are only available for live account holders. Due to the volatile nature of these crosses driven by thin liquidity, spreads can be quite high and it is recommended to trade during Scandinavian (European) trading hours. To read more on the Nordic markets, read the Scandi Daily on DailyFX by Joel Kruger, Technical Currency Strategist at www.dailyfx.com. Request to be put on the distribution list now: Nordic@fxcm.com FXCM aims to deliver the best forex trading technology, resources, and 24/7 customer service through its multiple trading platforms, including: FXCM Trading Station II, MetaTrader 4, and Forex System Selector.FXCM representatives are available 24 hours a day, 7 days a week.Direct Number: +44 207 398 4054Toll-Free UK Sales: + 0808 234 8789E-mail: Nordic@fxcm.com # # # FXCM Holdings, LLC FactsAs of January 2009• FXCM Holdings, LLC has over US$100,000,000 in firm capital.• More than 125,000 live accounts are traded on FXCM trading platforms• An average of $500 billion in notional volume is traded each month on FXCM trading platforms• In excess of $600 million in customer funds trading on platforms offered by FXCM
Only spot FX can be traded on this MT4 platform with FXCM.Trading FX, CFDs, and Spread Betting on margin carries a high level of risk, and may not be suitable for all investors.

USD

The Federal Reserve kept its benchmark interest rate unchanged at 0.25%-0%, a record low. In recent weeks, the poisonous combination of quantitative easing with expectations for a record budget-deficit has been damaging the safe-haven status of the US dollar. However, judging by the sharp rally in USD/JPY, the FOMC statement was more bullish than had been anticipated.