Forex News – The USD/CAD bounces back from multi-year low as risk appetite declines

April 4, 2011 - PRLog -- InvestTechFX reports that the on Monday the U.K. mobile-network operator Vodafone agreed to sell its 44% stake in French mobile operator SFR to French media giant Vivendi for approximately EUR 7.95 billion.

The GBP/USD hit mark of 1.6176 during afternoon European trading session. This also marked the pair’s highest since March 24; the pair subsequently consolidated at 1.6150, increasing 0.25%. InvestTechFX is a No Dealing Desk (NDD) and Straight Through Processing (STP) Forex company offering an industry leading ½ pip on all 6 majors while trading with the MT4 platform. InvestTechFX recently reduced their fixed spreads from 0.5 PIP to 0.2 PIP for 3 majors. When customers open an account with a deposit of $5000.00 they can receive leverage of up to 1:500.

The Cable, which is a term used among forex traders, refers to the exchange rate between the U.S. dollar and the British pound sterling. The Cable was likely to find support at 1.5970, Friday’s low and resistance at 1.6266, the high of March 24.

Additionally on Monday, data exhibited that the rate of growth in the United Kingdom’s construction industry diminished only slightly in March from February's eight-month high.

The British pound was also higher against the euro, with EUR/GBP slipping 0.34% to hit the mark of 0.8804. InvestTechFX software solutions deals with the Forex Market offering specialized Money Manager, IB and White Label services as well as many benefits including ½ pip fixed spreads, leverage ranging from 1:100 to 1:500 to permit the use of scalping, hedging options and Expert Advisors.

The market in Foreign Exchange is often unpredictable and always fluctuating. Therefore if you are interested in doing trade in this market, make sure that you take the time to be knowledgeable about good strategies that can help you trade successfully. With InvestTechFX you can practice trading currencies on demo mode using the MT4 platform before depositing actual funds into a live account. As you gain experience you can turn profits for real using InvestTechFX.

In April of 2011 InvestTechFX will be offering some excellent bonuses depending on the amount of deposits made by customers. On a deposit of $250 customers will get a 10% trading bonus. Standard account customers will get a trading bonus of 20%. Customers who deposit $10,000  will get a trading bonus of 25 %  and $20,000 deposits will get a  trading bonus of 30%.

It is important to keep updating yourself with the different economic trends in the international scene. After all, this currency market is greatly affected by the events that occur in the different countries and their respective economies. Familiarizing yourself with the factors that affect the FOREX market will surely help you make better decisions. For more information please visit www.investtechfx.com.