Western Union takes the cake!

Recently, a friend of mine sent me some money as a present and he sent the same through WU. At first, I thought that all this 'fast service' was more of a joke than anything else. Anyway, I went to the nearest Western Union office and was very pleasantly surprised when I was able to take delivery of the payment without any hassle whatsoever.

The recent move by Western Union to open shop 24*7 in all four major metros all over India has helped a long way in dealing with this problem of money delivery. Normally, one would have to go to the bank to take delivery of one's payment but with all banks having a strict timeline in which to do business, it is not often that one can take delivery of such payment after working hours. But thanks to Western Union, even that is taken care of with their offices being open 24*7. So, if it is 10 pm and you want to take delivery of a Western Union payment after working hours, well, that is no problem at all, as long as you are in one of the 4 major metros in India!

Wall street turns bleary eyes on to info for next week!

With all the battering that the Wall street had taken over the last few days, it has turned its bleary eyes on to the information like the earnings data,retail sales and the inflation data to get an inkling as to where the markets are headed. But the thing about asking for information is that it may well confirm that recession is already here.
Either way, it is going to be one roller coaster ride and there are not that many takers for the idea of the marker shaking of the 'Bear grip' that it seems to be currently under. With more and more banks coming out with fresh news as to their exposure to the Mortgage crisis, the last thing that the Wall street may need is to know that the companies are cash strapped.
Sometimes, ignorance is a bliss and that may well be the case for the Wall street this week. With indicators already pointing to the red, the ride, it seems, will be heading right to the sub levels of the financial markets.

Dollar seems to be eating the dust these days!

Well at least it is official at last, almost all the currencies are leaving the Dollar eating their dust, even the Yen is becoming resurgent to the Dollar much to the chagrin of the central bank of Japan, even if they wanted to fiddle the forex market which is what they always do to keep the Yen down, but this time around the sentiment of the whole market is against that.
Today saw the Indian Rupee end a losing streak against the Dollar and surge ahead to cap all the losses it had made in the last few days. With the Bull market showing no signs of slowing down and a very strong resurgent economy, this is to be expected. But on a cautious note to all the forex dealers out there, keep in mind that the Indian Rupee is not yet a free flowing currency, that is, it has not yet become Fully Convertible and in such scenarios, the Reserve bank of India is a whole lot more protective towards the Indian rupee and they will ensure that it swings either way within a very narrow margin.
But it is this very margin, that is the 1$ to 39 INR range that is giving much excitement and joy to the forex dealers world wide. One can even say that no other currency is showing so much volatility within such narrow ranges and people are just making bundles on mere movements of just 10 paisa on either side. It is like a Forex market within a Forex market, with only 2 players, the Indian rupee and the U.S Dollar. What goes up comes down in the afternoon and by the evening, the strong economic data of the day boosts the Indian rupee all over again. So people get to make money not just once or twice but three times a day. It is no wonder that nearly all the forex dealers that I met today have a big smile on their faces and they just cant seem to stop talking about the Indian Rupee and the falling Dollar!

economy,u.s dollar,yen,currency,

Dollar hitting new lows against the yen!

Today the Dollar is trading at new lows against the Yen, currently trading in the 110 margin. Just a few months back the Dollar was at 118 to the Yen but with the subprime and the housing market the Dollar is fast heading to new slumps and it seems that it is pulling the Gold with it. Many of you know that before the 1980's the Dollar was pegged to the Gold but that has since then been de linked.

But the sentimental factor along with a really cold beary market is fast sending the Gold in the direction of the Dollar. But that is good news for the consumers in the sense that they can now get the gold jewellery at a much lower rate. But the problem is that there are not that many consumers who want to purchase anything right now and all the purses and the wallets are busy tightening and the consumer spending is getting lower. Which is why the festival season could not hae come at a much better time and with X'mas right around the corner perhaps with increased spending by way of gift purchases by the consumer and better news in the market, thew Dollar can start looking up!

Japanese yen on the rise again??

This is nothing new.with the Japanese yen on the rise again against the U.S dollar all eyes are on the Japanese central bank.if things hold true to form then the Japanese central bank will intervene shortly to make sure that the Yen stays undervalued.this sort of intervention is causing havoc amongst the other Asian currencies and it is high time that Japan let the yen 'float free'.as such this is ripe time for the forex traders to buy the yen and then sell it as soon as the yen starts to weaken against the dollar which will happen as soon as the Japanese central banks intervene.so may sure that you cover all the press releases or interviews by any staff of the Japanese central banks as they are sure to give some hint as to the timeline!

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