GBPUSD continues to slide after the interest rate outlook . Down by 76 pips, made a intra day low of 1.4902, currently trading at 1.4905 level, possibility of pull back from these levels. Support at 1.4900, if it breaks the support level possibility of fall further.

Have a watch on GBP USD currency pair, its broken 1.5000 mark, down by 246 pips, currently trading at 1.4984

Watch out for the  1.5 level for GBP USD pair.  This is heavy intra day fall , traders advised to stay away till the currency pair gets stabilized

This year, Debt Freedom Day fell on 20^th February – which is both good news and bad news. On the one hand, it’s startling to think that the ‘average’ person needs to work 50 days of the year just to pay off the interest on their credit card and personal loan debt, but on the other hand, that’s a lot better than the figure we saw last year – or the year before, for that matter.

In 2010, Debt Freedom Day, the day of the year when the ‘average’ person will have earned enough to pay for the interest charged on their debt, actually came over a month earlier than it did last year.

• In 2007, Debt Freedom Day fell on 1^st February, meaning people were spending around a twelfth of their income on servicing their debts.
• In 2008, it was on 10^th March, which meant that debt interest was taking up around one in every five Pounds people earned.
• Last year, it didn’t come until 25^th March. We were approaching the point at which interest would take up one in every four Pounds earned.

So this year does, at least, mark a turn-around. It was the first time in three years in which Debt Freedom Day came earlier, not later, than it did the year before. When Debt Freedom Day comes 50 days into the year, that means we’re spending around one Pound on our debt interest for every seven we earn. Hardly an encouraging figure, but at least the trend is moving the right way.

Last year, something very unusual happened. The British public actually repaid more unsecured debt than they took on. At the start of 2009, according to official Bank of England figures, we collectively owed £233.216 billion, but by the end of the year, that figure had dropped to £226.458 billion. That’s a fall of £6.758 billion, which means we repaid, on average, £563 million more than we borrowed every month.

You might think that would be normal in a credit crunch or a recession, but look at 2008’s figures. On average, people collectively borrowed almost £1 billion more than they repaid during every month in 2008.

As Karen Barrett, Chief Executive of Unbiased.co.uk, said: “It may come as a shock that Debt Freedom Day actually only marks the day when we have paid off the interest on our debts, rather than the actual debt itself! Debts can quickly mount up to a considerable sum and this date demonstrates that debt is something that we need to take control of and actively manage.”

The latest ‘Trends in Lending’ report from the Bank of England (January 2010) states that: ‘Availability of consumer credit was reported by lenders to have tightened further. And although consumers’ expectations for unemployment have fallen, consumer credit demand was expected to remain subdued.’

In other words, lenders are still feeling quite ‘risk averse’ – quite wary of lending to people when there’s any doubt they’ll get their money back. At the same time, borrowers themselves are very cautious about carrying debt. They’re not sure what the future holds, so they’re keen to improve their financial situation – and reducing their debt levels is a great way of doing that.

Crude oil prices remain firm to close for the last week of Feb. The prices of crude oil ranged from $71-$82 for the month of Feb 2010. There is upcoming Opec Meeting on 17th of March 2010 at Vienna, Austria. This is a very  important event of the month for crude oil traders.

Us market just up by 4 points, market unable to find direction in trade, traded in a range of 20 points up and 40 points down from its last closing of 10321, finally closed at 10,325.26

Euro Usd finally breaking out from long time bearish outlook, it had made a high of 1.5192 before it started to melt down ,recently touched low of 1.3450, currently trading at 1.3645

Traders taking positions for a week to a month might want to take a chance now as there is overall dip of almost 1700 pips from the highs.

These days it has become difficult to get a credit card due to increasing list of defaulters, the banks and credit card issuing companies have taken several measures to reduce the list of defaulters thereby making it more difficult for a new credit card seeker to get the card fast.

Some of requirements as per new credit card policies with banks are, to have a bank account with credit card issuing company with a requested balance for period of time , or either have existing credit cards with very high balance to get a new credit card from another company. So those who are newly applying for a credit card would be difficult to get one quicker even after having all the documents ready.

There has been lot of tele calling for insurance related calls, this has happened as most bank and financial institutions has decresed and put a slow down on new credit card clients via marketing route. These credit card agents have nowshifted to insurance related businesses.

For information on credit cards in an instant visit Creditcardsinstantdecision.co.uk , one of the uk credit card website to help you on getting instant card deals and more.

Before throwing a lot of money into a forex strategy, you want to test it first. This is an intelligent move for any skill level of trader. If the technique is sound, your test will yield results indicative of that. If it doesn’t work, your experimentation will provide you that information so you can curtail any major risk.

One way of eliminating risk in currency trading is to open up a forex micro account. This allows
you to make mini trades for pennies or a dollar or two while your account maybe has $10. The strategy of forex you’re using remains the same – it is only the dollar amount that changes. If the method is a winner, move up to higher amount trades.

You can also use a demo account when you’ve found the forex system you think has the best mathematical technique. With a demo forex, you’re not actually trading for any money but you still get to eliminate risk and test the forex strategy you’re thinking about implementing next but not sure of.

As with all worthwhile investing, there is real risk in trading forex. You may in fact lose money from being a currency trading. This is part of the game you signed up for. There wouldn’t be a chance of making significant money if you also couldn’t lose money. One of the best forex strategies of them all is to invest prudently and prevent as much loss and/or risk as possible when creating the best forex formula. Try piggy backing on proven methods if your strategies haven’t panned out yet or you’re still new to forex.

Understanding refinance and how it can help you

Refinance refers to taking an alternative route to existing finance to reduce the rate of interest, therby reducing the total payments due monthly and annually, this would help increasing overall cash flow and reducing interest rate expence.
By refinancing the risk involved for changes in interest rates is eliminated , and a fixed rate of interest is to be paid to the lender of finance.

For processing refinance loan there is advance fee of 1-3% depending on the loan amount.

Approach: Its essential to calculate the cost of financing and the initial amounts to be paid of, in case the initial cost is high then refinancing should be avoided, it would depend on current situation where in the advance initial amount is affordable and long term interest rate calculation is in favour of more returns.

There are lot of different options for choosing loan rates for refinancing, make sure to choose the right lender.

Some points to be noted for refinancing.

• Existing debt cannot be refinanced.
• Even if the net worth of the borrower is positive refinance cannot be done with debt.
• Risk of refinancing increases when the borrower has lack of funds for paying interest on new loans.

Twitter launches its Business Guide – But Why?

When Dell announced the profits it has made using the twitter channel there was not even a word spoken from the twitter side. In fact everybody thought at least Biz Stone would come out with a press release to congratulate Dell and shout to the world that twitter has got the business benefits.Well twitter has made a well planned move by keeping silence when Dell came out with the twitter effect. On the 23rd of the July twitter has released there first attempt to pitch the businesses to use twitter to increase visibility and to gain customer access. Twitter has released a twitter 101 guide for business and everybody is happy about it.

As usual and as predicted the Dell story is on the front page of the case studies with some other brands for food like CoffeeGroundz. The guide contains six resources in total staring from what is twitter. The six topics covered in the guide are What is twitter, Getting Started, Learn the lingo, Best Practices, Case studies ( Dell 3 million dollar profits are the main reason for this I still believe) and other resources.

Other resources included in the guide are books – The one from oreilly is a must read if you work on twitter, Articles and Sites – Sites which usually write more about twitter like Mashable which has a complete section targeting only the twitter audience and the last the blog post – this blog posts are very less comparing to the the media and the blog attention twitter is getting.

I think the next thing twitter can do start sending this twitter 101 guide to the business executives on the twitterberry.