| Immense response for The Middle East Forex Trading Expo!
More than a month away from its opening date, The Middle East Forex Trading Expo has sold over 80% of its exhibition space.
With its huge promise and potential, this Expo and Workshop has drawn the support and participation of various forex institutions from the region and from as far as the US, UK and Switzerland.
To date, online-registered delegates have reached the sum of over 500. Our registrants vary from the ranks of MDs, CEOs, Directors, Member of the Board, Stockhoder, Presidents, Marketing Managers, Project Managers, Business Development Managers, among others, from forex trading corporations and private institutions, reported Jean Louis Farwaji, Vice President of the Arabcom Group.
Forex specialists from leading forex companies and international trading academies are conducting their workshop at the event.
Yen Options Volatility to Fall After G-7, Credit Suisse Says
Feb. 9 (Bloomberg) -- Investors should use options to wager that volatility in the yen will drop and the currency will trade in a range versus the dollar after this weekend's meeting of Group of Seven nations, according to Credit Suisse Group. A so-called butterfly options strategy, which profits if the exchange rate remains in a narrow span over the next month, is the best bet because the G-7 will probably refrain from any measures to stem the yen's slide, said Joe Prendergast, head of currency research and strategy at Credit Suisse in London. The yen last month touched a four-year low versus the dollar and a record low against the euro. It briefly pared the losses in the past week as European officials said Japan's currency may be a topic when the G-7 meets in Germany starting today.
Rand firmer, but within range
The rand is modestly firmer against the dollar in early trade after gaining ground Thursday on the back of the euro as well as news of an offer for retailer Edcon (ECO). The local unit, nevertheless, remained within its range and another quiet day was expected. At 08:36, the rand was bid at 7.1290 per dollar from an overnight close of 7.1305. It was bid at 9.2948 to the euro from a previous 9.3009 and at 14.0031 against sterling from Thursday’s 13.9549. The euro was bid at $1.3040 from $1.3036 late Thursday, while gold was quoted at US$659.38 a troy ounce from a previous $659.40/oz. "The rand is still in its 7.12 to 7.20 range and I don’t see much to take it out.
State Street To Acquire Investors Financial Services For About ...
(RTTNews) - Monday morning, State Street Corp. (STT | charts | news | PowerRating), a Boston, Massachusetts-based provider of financial services to institutional investors, revealed that it would acquire Investors Financial Services Corp. (IFIN | charts | news | PowerRating), for approximately $4.5 billion in stock. The company said that the boards of directors of both companies approved the transaction, which is expected to close by the third quarter of 2007. The transaction is expected to be dilutive to State Street's operating earnings in 2007, and neutral to earnings in 2008, on an operating basis. In addition, the transaction is expected to be accretive to earnings in 2008 on a cash basis and accretive to operating earnings in 2009, based on anticipated pre-tax cost savings of about $345-$365 million, during the first two years following closing.
Canadian Dollar Rises Most in 7 Months, Bonds Fall on Jobs Data
Feb. 9 (Bloomberg) -- Canada's dollar rose the most in more than seven months and bonds declined after a government report showed employers added more jobs in January than expected, suggesting an economic slump may be easing. The currency strengthened from a 14-month low as Canada's economy added 88,900 jobs last month, Statistics Canada in Ottawa said today. Economists were expecting 13,500 new jobs in January, according to the median estimate of 24 economists surveyed by Bloomberg. The unemployment rate rose to 6.2 percent from December's 6.1 percent. Amid the strong employment data and market reaction, some questioned the statistics' accuracy. Previous government data had shown the economy barely growing, making the job gains unusual. ``Today's job numbers have provided a very good excuse to investors to buy the Canadian dollar,'' said Meg Browne, senior currency strategist at Brown Brothers Harriman & Co.
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