Forex trading involves certain amount of financial risk | ForexGen:

Forex trading is becoming one of the most popular ways among those who like to make money online. With the advent of the internet many people have started trading in the forex market as one can earn money sitting in the comforts of their home. Forex trading involves certain amount of financial risk; however, with little extra caution and appropriate planning one will be able to make money without sweat.

If you would like to venture in to forex trading you must have speculation skills. You should be able to observe, analyze and draw valid conclusions regarding the foreign currency trends. If you learn to have your investment in promising currencies at the correct them then you will be able to make money. Forex trading is similar to the share market in many respects however the risk factor is here is at much lower scale.

European Market Update | ForexGen

OECD stated that the Fed and BoJ interest rate policies are appropriate, sees possible BoE interest rate cut; supports ECB "no bias" policy stance at this time. The OECD raised its 2008 GDP forecast for the US to 1.8% from 1.2% prior view and lowered each of the European GDP outlook.

(PD) Poland Central Banker Filar stated that Polish Inflation should slow down to 4.7% in October. He added that the central bank should raise interest rates laterthis month
Thai Central Bank confirmed FX market intervention to support Thai Baht
Australian Central Bank lowered interest rates for the first time in 7 years by 25bps to 7.00%.
In energy: Hurricane Hanna becomes a Category 1 storm, little change in strength seen over the next 24 hours. NYMEX front month crude continues to fall as Gustav failed to inflict severe damage to oil operation in the Gulf of Mexico. IEA stated that early signs point US Gulf Oil facilities have avoided big damage. An OPEC Delegate stated that oil prices remain high even at $109 per barrel level. The unnamed delegate noted that members are considering a rollover at next week OPEC meeting. The National Hurricane Center (NHC) noted that Tropical depression #10 formed in the Atlantic

London Session Recap | ForexGen

Oil continued to push lower in the London session as Hurricane Gustav quickly becomes a distant memory. The commodity slipped from an open near $111.20 towards a session low of $105.46 before closing just under the $108.00 mark. This helped the buck extend gains against the majors in a big way.

EUR/USD fell about 85 pips towards a close near 1.4495 after making a session low around 1.4465. GBP/USD lost about 100 pips in London trading and was sitting near 1.7820 at the close. The OECD revised its forecast for UK growth in 2008 to just 1.2% from a prior estimate of 1.8% and this helped push Sterling lower as well.

USD/CAD extended gains on the sharp leg-down in oil prices. Loonie opened near 1.0685 and was sitting just above 1.0700 at the close after making a high near 1.0750 as oil was making its lows. We expect the pair to encounter good resistance once again near the 1.0720/25 area where a daily trendline lurks.

Oil Drops Heavily As Gustav Fears Fade | ForexGen

U.S. Dollar Trading (USD) Public Holiday, big moves on Oil as Hurricane Gustav fails to make impact helped the dollar to make gains. Looking Ahead, Aug ISM expected to fall slightly to 49.7 vs. 50.0 previously. UPDATE OIL breaks below $110 a barrel

The Euro (EUR) tracked Oil movements closely, weakening as Oil softened. German July retail Sales were confirmed as a weak -1.5% m/m. Eurozone PMI was confirmed at Overall the EUR/USD traded with a low of 1.4583 and a high of 1.4717 before closing the day at 1.4605 in the New York session. Looking ahead, July Eurozone PPI is expected to gain 1.3% in July.

The Sterling (GBP) broke through 180 as downside momentum accelerated. Overall the GDP/USD traded with a low of 1.7985 and a high of 1.8128 before closing the day at 1.8020 in the New York session. Looking ahead, Government Stimulus package is expected to be released.

Dollar Has the Way | ForexGen

The greenback extends gains in the market as oil prices took a plunge since the expected storm Gustav weakened before approaching Louisiana. Commodities appeal was reduced since prices started slipping as investors once hedged against a weak dollar and inflation. Also of course since crude prices fell so much marking a four month low, is projected that it will recover growth in the U.S. since now prices have eased which means inflation should took a step back too, anther support to the boosting of the currency.

The euro lost more ground in the market as now the focus remains on the rising dollar and that the several rate cuts was enough for their economy to stimulate. The EU Zone is scheduled to release inflation data as it will show expectations that the PPI for the month of July had inclined to 1.2% from 0.9%. The EUR/USD is currently traded at 1.4523 while recording a high of 1.4597 and a low of 1.4520.

The pair is trying to gather enough support from the 1.4520 level before and if it does reverse to the upside resistance of 1.4595
The anticipations remain in the market that there is a future rate cut by the BoE so growth can recover in the UK, yet the scheduled meeting this Thursday is expected to show that the central bank left interest rates steady at 5%. The sterling continues its deterioration pressured by the weak economy. The GBP/USD is currently oversold in the markets as the ADX indicator is showing us strong momentum while the pair tries to gather strength before rebounding from the support of 1.7845 to the resistance of 1.7980. The pair is currently traded at 1.7875 while recording a high of 1.7942 and a low of 1.7867 so far.
As the Asian stocks continue their fall, the yen continues to rise against the euro and pound as yet is weak against the strong USD. The USD/JPY is currently traded at 108.24 while recording a high of 108.53 and a low of 107.92 as we see a support at 108.20 and a resistance at 108.40.