Broker News

I have to admit that I've largely ignored the Occupy Wall Street protest movement. I'm a native New Yorker so you'd think that I would know more about it, but it's been a while since I've lived in the city and there isn't a protest of this kind anywhere near where I now live. However, this past week, I could ignore it no longer. The global protest movement held last Saturday, in solidarity with the ideals of the Occupy Wall Street movement shows the kind of pent up anger that is permeating the world today.

Steve Jobs may have passed away, but there's no question that he will still continue to impact the world, and the Forex industry, in profound ways. On October 11, less than one week since Mr. Jobs' death, Forex.com announced the launch of its new iPad trading application which is available free of charge at Apple's App Store.

As an island, the United Kingdom stands apart from the rest of Europe physically, and there's no question that over the course of time, its leaders have struggled to maintain this distinction economically as well, opting not to embrace the common currency, and instead to maintain the almighty Pound, once thought to be among the strongest global currencies.

FXCM, a well-known Forex brokerage with branches worldwide, has just announced that it will acquire its second Japanese brokerage, Foreland Forex. Only 3 months ago, FXCM acquired GCI, another Japanese brokerage, for only $5 million. Foreland Forex is rumored to be worth at least double that figure.

If you're interested in the Forex market, you likely have a natural curiosity about countries dissimilar from yours - I know I do. Though I hail from a developed country, I can't help but root for the underdog, and I've recently taken a closer look at two under-developed nations that I think have significant potential for future growth - and profits.

Some might say that the housing slump in the United States is over. Shocked? It's true but not for the common man. If you happen to be a millionaire with a bunch of houses ready for sale, the world is your oyster because you could be on the verge of getting a whole lot richer. According to the Associated Press, multimillion-dollar homes in Birmingham, Michigan, for example, are back on the market, and the bidding wars are fierce. The agency reports a 21% rise in sales last month from the previous year's numbers. And while the sun shines brightly on this side of the fence, related services and providers are also being positively impacted by the boost from consumers with disposable income. The local country club has dropped its discount offers, and the retail stores are bustling with activity.

The US Federal Reserve has taken quite a few bold steps over the last few years to restore balance to the country's economy. In keeping with this trend, its latest well-intentioned endeavor has become the subject of some debate, mostly about whether the move is justified or whether it's simply too little, too late. Under the engaging title of Operation Twist, which was originally trotted out in the 60s with modest results, the Fed has committed to selling off $400 billion worth of short-term Treasury debt. The proceeds from this transaction are then to be used to purchase long-term bonds by June of next year. The intention here is to drastically lower the cost of mortgages and loans to encourage consumer spending and borrowing, leading to a much-needed boost to the economy. Skeptics, however, remain critical of Operation Twist's ability to do better in the present than it has done in the past.

Despite the show of support from France and Germany, Greece is still the center of a great deal of speculation over its potential debt default and continued membership in the eurozone. Undoubtedly, some difficult decisions lie in store for the country at the core of the sovereign debt crisis in Europe. World Bank chief Robert Zoellick has criticized the situation as a new economic danger zone. Speaking at George Washington University, he said, "?Unless Europe, Japan, and the United States can also face up to responsibilities they will drag down not only themselves, but the global economy." He also pointed out ironically that these were the same entities that had lectured China about responsibility as a global stakeholder only to find themselves in need of taking their own medicine.