Forex Jokes : The rain rain rain came down down down...

The meteorologists predict that the situation will further deteriorate in the southern and southeastern parts of Germany. The Danube and Elba rose, and other rivers overflew their banks because of the incessant heavy rainfall. Bavaria has borne the brunt of the recent flooding. Several hundreds of its citizens were evacuated, the autobahns and railroad were drowned. The government has declared the state of emergency in ten towns, the residents of the small ones were transported to secure areas. The catastrophic large-scale surge of water has been recorded in Passau, which is surrounded by the Inn, Ilz, and Danube. The historical center was inundated, houses and basements were submerged, and the water level has reached 11 meters. The country's authorities have decided to involve the military to deal with the aftermath of the natural disaster. Angela Merkel has given the government directions to form  emergency services in order to help people suffering from the flood the most. The dwellers of potentially dangerous regions are asked to keep away from the rivers and take safety measures. The train traffic has been blocked, moreover, the railroad has been flooded, which has caused Deutch Bahn AG a modification of the train timetable and closure of most of risky destinations. The deluge made Prime Minister of Saxony Stanislaw Tillich cancel his visit to Turkey. The Germany's government is keeping the current state of affairs under the control. Thanks to the well-functioning system of notifications and operational work of the local municipalities heads, no victims have been reported yet.

Forex News: Euro rises on PMI data

The euro rose broadly on Monday after the manufacturing sector in the euro zone showed signs of stabilising, while the dollar fell against the yen as a slip in equities kept the safe-haven Japanese currency supported.

Analysts said both the euro and the yen could, however, trade lower in coming months if economic data from the U.S., like this week's non-farm payroll figures, pointed to a sustained recovery in the United States.

This could give impetus to the view the U.S. Federal Reserve would scale back its $85-billion-per-month stimulus programme and drive the dollar broadly higher.

The euro rose after data showed the slump in euro zone manufacturing had eased significantly in May.

The euro was up 0.3 percent against the dollar at $1.3025. Resistance was cited at last week's high of $1.3062. Reported option expiries at $1.3000 could keep the currency pinned to that level.

The dollar faltered against the yen as losses for the Nikkei steepened, eventually closing down 3.7 percent, while European shares extended losses on Monday.

The dollar was last down 0.4 percent at 100.10 yen, its lowest in 3-weeks. Support was cited at 100 yen and a large option expiry was reported at 101.3 yen.

"Dollar/yen has been held hostage to the broader risk-off environment," said Alvin Tan, currency strategist at Societe Generale. "Market is very short yen and that means that it is vulnerable to further short covering in the yen, meaning a lower dollar/yen...if risk continues to be under pressure this week."

Tan however expects the dollar to rise to 108 yen by the end of the year. The Bank of Japan's aggressive easing policy is likely to keep the yen under pressure, analysts said.

"The obvious support is at 100 and it will be difficult for it to break that unless stocks fall an awful lot more," said Takako Masai, head of forex at Shinsei Bank in Tokyo.

The dollar has so far managed to stay above the 100 yen level as investors remain bullish on the dollar after the last strong non-farm payrolls raised expectations that the Fed may start unwinding its massive stimulus programme.

The dollar added 1.9 percent in May against a basket of currencies, spurring currency speculators to raise their bets in favour of the greenback to the highest since at least June 2008.

Forex Jokes : Keeping secrets is out of fashion

The government of Switzerland will present a bill, which is aimed at improving the relationships with the Internal Revenue Service of the U.S.A. This measure will become a key point in the long-standing conflict over tax evasion by the U.S. citizens, who are holding accounts in the Swiss banks. Next week this law proposal will be brought before the Parliament and will enter into force approximately on July 1. The document will make the financial institutions to disclose information about their American clients to the U.S. authorities on condition that the interests of Switzerland are protected. In fact, that means that the banks will face multimillion fines for the assistance with tax avoidance. The total amount of fines may equal $7-$10 bln. The part of the amount will be paid by the country's government, and later the public money spent will be reimbursed by the banks. Currently, more than ten Swiss banks are involved in such law violation cases. The criminal investigation may be launched into thousands of Americans, who managed to hide their private incomes from the IRS by using offshore bank services. So, the Switzerland government is in a predicament now. On the one hand, the country sticks to the centuries-old tradition of non-disclosure. On the other hand, it has to react to the financial claims of the leading world power. The situation will clarify in the nearest future

Do you need a trading plan?

If you are serious about trading successfully on the international currency market, then you should work out a trading plan. Pay particular attention to it, as it is not just another chapter in a Forex trading guide book; on the contrary, it is a major trading tool.
If it seems the trading plan is useless and takes precious time, try not just to draw it up, but make corrections occasionally.
Statistics and statistical analysis are of great importance when trading on the Forex market.
Trading plan is a kind of statistics which reflects your actions in different circumstances. It is an algorithm of your work, which should be corrected due to market changes.
It is a trading plan that will help you to analyze situation promptly and take right decisions.
You should remember the basic stages in plan-making process:
1. Observe the economic news and collect relevant information.
2. Make a plan.
3. Keep to the trading plan.
4. Analyze you work according to the plan.
5. Correct the plan.
Trading is a job, a sort of business, and business without a plan will not bring fruitful results.