Daily Forex News March 19th 2013 FCTOFX: The Euro continues to consolidate above yesterday's low as markets were calmed by the so far limited impact of the Cyprus news on peripheral yields. The situation showed that investors are so far relatively confident that the bank deposit tax in Cyprus is a one-off: rather than the start of a wider move in the Eurozone. Also while keeping the 5.8 billion Euro revenue target, Eurozone ministers urged Cyprus to consider restructuring the plan to refrain from charging smaller depositors. The original plan was that a 6.75% tax would be charged to deposits up to 100,000 Euros and 9.9% for anything above that. The new plan could be just a 15.6% levy on deposits of more than 100,000 and no levy for amounts below that level. The parliamentary debate on the issue has been delayed until later in the week with the current bank holiday extended until Thursday.

1. Daily Forex News March 19th 2013
FCTOFX: The Euro continues to consolidate above yesterday's low as markets
were calmed by the so far limited impact of the Cyprus news on peripheral
yields. The situation showed that investors are so far relatively confident that
the bank deposit tax in Cyprus is a one-off: rather than the start of a wider
move in the Eurozone. Also while keeping the 5.8 billion Euro revenue target,
Eurozone ministers urged Cyprus to consider restructuring the plan to refrain
from charging smaller depositors. The original plan was that a 6.75% tax
would be charged to deposits up to 100,000 Euros and 9.9% for anything
above that. The new plan could be just a 15.6% levy on deposits of more than
100,000 and no levy for amounts below that level. The parliamentary debate
on the issue has been delayed until later in the week with the current bank
holiday extended until Thursday.
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2. Daily Forex News March 19th 2013
The Japanese Yen retreated from yesterday's rebound as risk markets
recovered. Outgoing Bank of Japan head Shirakawa will end his five year
term a few days earlier today and will give his final press conference. New
Bank of Japan head Kuroda and two deputies Iwata and Nakaso will take
office tomorrow. It's also been reported that a veteran of quantitative easing
Amamiya was brought back as Kuroda's top policy planner. It's reported that
Amamiya is excellent at finding the middle ground and could help Kuroda
pursue aggressive easing while keeping the Bank of Japan from crossing the
line.
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3. Daily Forex News March 19th 2013
In Australia, the Reserve Bank of Australia deputy governor Lowe said that
the strong currency and high saving rates helped "digest a huge investment
boom without generating substantial imbalances in the economy." The
Reserve Bank said in its minutes that " Sensitive parts of the economy
continued to show signs of responding to these low rates and it was likely
that this still has further to run." The Central Bank said the current rate is
"appropriate" even though further reductions "may be required" and
pledged "to assess further developments over the period ahead."
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4. Daily Forex News March 19th 2013
On the data front, UK inflation data will be a major focus in the European
session. Consumer Price Index is expected to rise slightly to 2.8% year on
year in February. Though Producer Price Indexes are expected to moderate.
German Z-E-W is expected to drop slightly to 47.5 in March while Eurozone Z-
E-W is expected to rise slightly to 43.7. And New residential construction
data will be released from the US later in the day.
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5. Daily Forex News March 19th 2013
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6. Daily Forex News March 19th 2013
The new retail forex trading offering from Forex Currency Trading Online
Ltd., www.FCTOFX.com, has been developed out of the retail customer’s
desire to profit from managed Forex trading, without having their capital
held, managed and controlled by an unknown or unregulated third-party.
Our Forex trading software is fully adaptable to suit your risk profile, with
daily weekly and monthly maximum drawdowns set from just 1% to 25%. We
currently have 14 co-existing strategies, trading over 17 currency pairs,
across all 3 trading sessions. This software system is designed to be fully
automated, however is manually monitored 24 hours a day, being upgraded
and modified to take full advantage of changing market conditions.
For More Information: www.FCTOFX.com
View FCTOFX Live Trading @ http://bit.ly/W9RJWK