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According to data released by RBI, the forex reserves dipped by $165 mn during the week ended February 20 to $249.5 bn, largely due to the revaluation of non-dollar assets such as euro, sterling pound and the Japanese yen vis-a-vis the US dollar.

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The combination of four major rate decisions along with the release of US non-farm payrolls (NFPs) leaves the forex markets likely to remain highly volatile.

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Daily Forex Trend Report -EURUSD range matures -USDJPY trend nears potentially strong resistance -USDCAD could break out soon

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EURUSD - Euro Forecast Neutral on Unclear Forex Sentiment USDJPY - Japanese Yen to Fall Further on One-sided Trading GBPUSD - British Pound Bias Remains Weakly Bearish USDCHF - US Dollar/Swiss Franc Forecast to Rally USDCAD - Canadian Dollar Bias Bearish Against US Dollar

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MOSCOW. Feb 26 (Interfax) - The Central Bank of Russia has said the recent growth in individual forex deposits at Russian banks has finally tapered off. “Forex deposits by the population have stopped growing.

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EURUSD – Forex trading sentiment has been extremely choppy in the EUR/USD, as directionless price action does not often produce sentiment extremes. Indeed, the ratio of long to short positions in the EUR/USD stands at a relatively neutral 1.06 on 51 percent of traders being long.

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Ukraine intends to keep current gold and forex reserve levels until the end of 2009, said President Viktor Yushchenko said during a meeting with G-7 ambassadors, as well as representatives of the International Monetary Fund (IMF) and the World Bank in Kyiv on Thursday.

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PFGBEST today announced that its BESTDirect MT4 forex trading platform has extended its advantage in the electronic forex trading industry by adding a number of additional currency pairs and mini-sized currency pairs to its system.

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CHICAGO—-PFGBEST today announced that its BESTDirect MT4 forex trading platform has extended its advantage in the electronic forex trading industry by adding a number of additional currency pairs and mini-sized currency pairs to its system.

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The economic slump in the global economy has certainly taken a toll on the Japanese economy, and as the downturn in the world?s second largest economy intensifies, the yen is likely to face increased selling pressures over the near-term as the low-yielding currency?s safe-haven status comes under pressure.

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