According to the minutes from their June meeting, the Bank of England is set to freeze interest rates yet again, keeping them at the record low of 0.5 per cent. It is suggested that alternative quantitative easing measures would be discussed, but the very suggestion that the BoE may print more money saw traders at ForexYard distance themselves from sterling during Wednesday’s sessions.

Following the discouraging news from London the pound suffered across the board, with significant losses against the US dollar and the struggling euro. During the London trading session online traders at ForexYard and other foreign currency markets sold the pound, pushing it down as low as $1.6050 against the greenback. The euro also took advantage of the reluctance of investors to buy pounds, climbing to a two-week high against sterling, trading at 89.53p.

During the all-important meeting of the Bank of England’s board members earlier in the month a vote whether to keep interest rates at the ultra-low rate of just half a per cent was found to be in favour of keeping rates down. Seven of the nine members agreed to an interest rate freeze for the time being, news which had an instant knock on affect for the pound.

The continuing uncertainty surrounding Greece and its failing economy has also weighed heavily on the British pound. This is due to the large amount of British money that is currently invested in Greece, its private sector and also it public holdings, money that Greece may not be able to repay.

So what’s next for sterling? Will there be renewed confidence shown towards the British pound or will we see more selling during Thursday’s sessions. If you want to trade the pound or any other major foreign currencies visit ForexYard. Online Forex broker ForexYard is a leading place to trade Forex, with great trading offers available continually. To find out more visit www.forexyard.com today.

Over recent months Forex traders have been buying Swiss francs for numerous reasons and this continued purchasing has led to the ‘safe haven’ currency climbing to an all-time high against the US dollar. So what is it that’s making the Swiss franc the currency of choice for traders at eToro and other online Forex brokers? Why is the franc so much more desirable than other foreign currencies?

When times are hard and markets are unpredictable Forex traders and investors turn to safe haven currencies such as the US dollar and the Swiss franc in a bid to avoid big losses that can be achieved while trading less stable currencies. As traders across the world have recently been employing risk aversion tactics left, right and centre currencies like the Swiss franc have been in demand. Troubles across the Middle-East and natural disasters in Japan and New Zealand have led Forex traders to the franc in their droves.

As the US dollar has been facing substantial difficulties, with economic growth at a virtual standstill and the US Federal Reserve unwilling to raise interest rates, the Swiss franc has been making headway against its US counterpart. At 8:51am local time in Zurich on 7th June Forex traders at eToro witnessed the mighty franc climb to a record all-time high of 84.81 against the US dollar and is still looking to make further gains as we speak.

The success of the franc has led to concern within the Swiss government, as officials were forced to reduced Switzerland’s 2012 growth forecast. The strengthening franc will certainly be weighing heavy on Swiss exports and manufacturing but will this force intervention by the Swiss National Bank and will a downturn in manufacturing figures devalue the Swiss franc?

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On Tuesday the US Federal Reserve Chairman Ben Bernanke made a statement that many traders and market analysts predicted, suggesting that interest rates will remain low for the foreseeable future. Bernanke’s comments hurt the US dollar, with the Greenback trading down against most major currencies at ForexYard and other trading markets.

It wasn’t all doom and gloom from the Federal Reserve chief. He went on to say that “economic growth is likely to pick up in the second half of the year”, offering a glimpse of optimism for the dollar. However, for now the dollar is even losing ground against the struggling euro as no interest rate hike seems likely any time soon.

Early trading during Wednesday’s Asian market session saw the dollar lose ground to the euro, with the EUR/USD climbing to a one-month high of $1.4696 as traders lost further faith in the US currency. Even the Japanese yen, which has faced obvious difficulties of its own, was holding its own against the dollar, trading at the 80.00, where it has hovered for the last 24 hours or so.

So the future looks bleak for the US dollar but that doesn’t mean that you can’t make a profit from ‘selling’ it at an online Forex broker such as ForexYard. If you want to try out Forex trading for yourself, or if you’re looking for a new place to trade visit www.forexyard.com. ForexYard is one of the internet’s most popular online Forex brokers, offering a great choice of currency pairs along with a welcome bonus of up to $1,000 so head over to them today and start trading Forex.

As the price of oil is affected by the strength of the US dollar, and as the dollar made modest headway against the euro during Monday’s trading sessions the price of crude oil has fallen. However, traders at eToro and the world’s other Forex markets saw limited trading thanks to bank holidays in both the US and UK.

During Monday’s trading session on London’s ICE futures exchange Brent crude was trading at $114.68 a barrel, down by 0.3 per cent or 35 cents, while prices at the New York Mercantile Exchange were trading down by 43 cents or 0.4 per cent at $100.16 per barrel. Next week there’s to be a meeting of the Organization of Petroleum Exporting Countries, who are facing mounting pressure, from oil consuming countries such as Japan, to increase supply to help reduce prices.

Further worries regarding Greece and its debt repayments weighed heavily on the euro’s fortunes, which helped the US dollar continue its gains against the single European currency. The EUR/USD currency pair fell as low as $1.4258 late in the London trading session before recovering to the $1.4269 mark by the close of New York trading.

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Renewed Greek debt worries scared off Forex traders from buying euros at many of the world’s Forex trading markets and sites, such as ForexYard, during Wednesday’s London and New York trading sessions. The euro suffered broadly against the majority of other currencies including the Swiss franc, which hit record highs against its Eurozone counterpart.

It is now looking more and more unlikely that Greece will be able to meet their original debt repayment schedule, with the Greece’s government considering making a request to restructure the repayment agreement. Many market analysts and insiders believe that the shadow of uncertainty hanging over Greece is the main reason for the euro’s recent poor performance. However, it is widely believed that even if the Greece situation worsens it wouldn’t be disastrous for the single European currency.

Towards the end of Wednesday’s New York Forex trading session the euro was continuing to struggle, losing ground across the board. The euro was down to $1.4086 against the US dollar and down to Y115.45 against the Japanese yen at ForexYard, where traders are still willing to open short positions buying euros but appetite for the euro in the long term is virtually non-existent.

So what next for the euro? Well the European Central Bank has been making noises regarding further interest rate increases, possibly as soon as this summer. And as always, an interest rate hike would be likely to boost the struggling euro.

If you want to try your hand at trading foreign currencies online or if you’re looking for a new place to trade take a look at what ForexYard has to offer. ForexYard is one of the internet’s leading online Forex brokers, offering a wide range of currency pairs along with tight spreads and even a welcome bonus of up to $1,000 when you first fund your trading account. To find out more visit www.forexyard.com.

eToro is widely considered to be the best place for new Forex traders to learn their skills thanks to; a two-mode trading platform that offers a ‘visual’ version for beginners and a version for experienced Forex traders, the OpenBook that offers new traders an insight into other traders positions and deals and demo account that allow traders who are new to this fast –paced world to try before they buy! Now, to offer further assistance to new traders there’s a brand new Forex education centre at eToro that offers a huge range of courses and advice.

The Forex education centre at eToro is packed full of training courses, strategy guides, in-depth explanations and much more. However, the education centre isn’t exclusively for new Forex traders at eToro. There are advanced courses that are as beneficial to time-served traders as the beginners’ course are to novices. You will find everything from a glossary of terms to advanced theories and profit strategies in the education centre, so no matter what type of trader you are and how much experience you have eToro will be able to offer you further trading wisdom.

If you’re new to Forex trading or if you want to give this exciting investment method a go for yourself head over to www.etoro.com, where you can open a new Forex trading account in minutes and then take advantage of the fantastic eToro welcome bonus that pays you up to $10,000 when you first fund your trading account. And don’t forget that you can enter the trading challenges for the chance to win cash prizes and, of course, you have the new Forex education centre at eToro, where you will find all you need to know to about Forex trading and making profits.

Today the Bank of England boosted the pound at ForexYard, where traders witnessed the EUR/GBP fall over 1 per cent on the day to 87.05p, its lowest price since March 24th. There are two major reasons for the sudden drop in the EUR/GBP currency pair. Firstly, the Bank of England has raised its medium-term inflation forecasts and secondly there are fresh worries about Greece and Portugal’s ailing economies that are weighing heavy on the euro and its fortunes.

Today the Bank of England published its Quarterly Inflation Report that showed the UK’s central bank raising its medium-term inflation forecasts, with many analysts and insiders predicting an earlier than expected interest rate hike, possibly in December instead of January. Speculation that interest rates will go up has created a renewed demand for sterling, with investors seeking long positions in the pound.

Renewed fears about Greece and Portugal’s worsening debt crises have also added to the woes of the euro. Greece will almost certainly have to restructure its debt as it seems increasingly unlikely that their economy will be able to afford the agreed repayment structure following their IMF/EU bailout.

Portugal is still to have a bailout deal agreed and thanks to uncertainty in Finland it may be next week before a decision is reached. Finland, unlike other EU member states, has the right to vote on any bailout packages and currently the second political party in Finland isn’t in favour of the deal. Therefore the vote has been delayed until Wednesday of next week, a move that caused traders at ForexYard and other online brokers to avoid buying euros today, instead opting for the pound.

If you’re looking for a new place to trade Forex take a look at the great trading platforms, tight spreads and Forex bonuses available from ForexYard. To find out more about trading Forex online head over to www.forexyard.com.

If you’re new to the fast-paced and high pressure world of Forex trading it may be difficult to see how everything works and how people make money. You may hear stories about experienced Forex traders making a fortune as a currency pair rockets but which pair and when? Well now you can see trades being made, follow traders and copy trades with the eToro OpenBook.

The OpenBook is a section of eToro where you can interact with other Forex traders as well as watch their trades being made and you can even copy their trades in a bid to cut a profit too. With the OpenBook, eToro has created a Forex trading social network that allows you to get right into the heart of the world of Forex trading without the need for massive bankrolls or decades of experience.

The OpenBook from eToro allows you to see professional traders making their moves right in front of your very eyes and, as we’ve already said, you can copy trades with the eToro OpenBook, so if you’re following the right trader you could be quids in!

Being able to copy trades is all well and good but it won’t show you how to make those trades independently for yourself. However, there’s a massive friendly community of Forex traders of all experience levels available to chat with and share trading experiences with at eToro. These fellow traders, coupled with the revolutionary OpenBook makes eToro the perfect place for new traders to start out. If you want to find out more about the OpenBook or learn about Forex trading at eToro in general visit www.etoro.com.

Last week the price of precious metals such as gold and silver skyrocketed, with gold breaking new record highs on the way. These advances are mainly due to the reluctance of Forex investors, and also retail traders at sites such as eToro, to buy dollars. There are many reasons for the dollar’s downward slide including the Federal Reserve’s ultra-loose monetary policy that is making traders and investors wary.

The reason that gold and silver have benefitted so much from the dollar’s decline is because gold and other precious metals are priced in US dollars, so devaluation of the dollar makes gold relatively cheaper to buy.

Another reason for the continued advances of gold prices is uncertainty. Events such as the various middle-eastern conflicts or the massive natural disasters in Japan send shockwaves of fear through global markets. So in a bid to avoid unnecessary risk, traders and investors head for gold and other precious metals as safe havens, a move that drives the prices of these commodities up and up.

But where will it stop? When will the gold bubble burst? Many analysts believe that it won’t. This doesn’t mean that the price of gold will never go down, nor does it mean that you can trade in gold without losing but it does mean that gold is a promising investment option even now, as it stands at over $1,550 per ounce.

If you think you have what it takes to second guess what the price of gold and other precious metals will do or if you have a hunch about the fortunes of currency prices you should visit eToro. eToro is one of the world’s leading online Forex and commodities brokers, offering many great features for new Forex traders along with a wide range of instruments to trade, tight spreads and many great educational tools. To find out more visit www.etoro.com today.

It’s a well known fact among Forex traders and investors that the price of gold and the price of the US dollar are related to each other, with a weak dollar pushing up the price of gold and this has been demonstrated in a dramatic fashion this week. The weak dollar propelled gold prices up to the dizzy heights of $1,512.50 during Friday’s trading sessions at ForexYard and other online Forex brokers.

For anybody who bought gold positions last week Good Friday was good indeed. Gold climbed in price every day for the last seven days and has increased its value each week for the last six weeks. Gold really is in good shape with many analysts looking at $2,000 per ounce as a real possibility in the next 12-18 months.

It’s not just gold that’s been on the climb either. Most other precious metals have been in demand, with silver also hitting record levels. The spot price for silver hit a 31-year high last week peaking at $46.69 an ounce, which is over an 8 per cent increase for the week.

If you think you know what’s going to happen to the price of gold or the price of the US dollar during the coming week then you should pay a visit to ForexYard. ForexYard is one of the internet’s most popular online trading sites, with all you could possibly need to get your trading career off to a flying start, including a Forex bonus of up to $1,000 when you make your first deposit. Visit www.forexyard.com today to find out more.