"Currency Futures Market Traders like the Dollar against the Euro"
-- Futures traders are betting for the first time since December 2005 that the dollar will gain against the euro.
The difference in the number of wagers by hedge funds and other large speculators on a decline in the euro compared with those on a gain, known as net shorts, was 21,315 on April 29, compared with net longs of 18,907 a week earlier, figures from the Washington-based Commodity Futures Trading Commission show.
``The dollar has already turned against the euro,'' said Benedikt Germanier, a currency strategist at UBS AG in Stamford, Connecticut. ``The dollar will go to $1.52 in a straight line.''
The dollar increased 0.3 percent to $1.5424 per euro at 5 p.m. in New York, from $1.5474 yesterday. It touched $1.5361, the highest level since March 24.
The dollar rose 1.3 percent against the euro this week, its biggest rally since March, and has appreciated 3.6 percent from a record low of $1.6019 reached on April 22. It's the first time the dollar has posted two weeks of gains since December.
http://www.bloomberg.com/apps/news?pid=20601087&sid=anL286vy_iZM&refer=worldwide#
"To trade in the world's currency markets takes a heart of steel and mega-bucks in the pool !" No longer are the world's currency markets the exclusive domain of the largest banks and multinational corporations. Through Terra Nova, traders and investors can trade currency contracts and have access to the world of foreign exchange.
Currency Futures Offerings
Terra Nova presently offers trading within the following currencies:
TAL Symbol Currency Contract Size Tick Value Tick Increment
/6A Australian Dollar 100,000A$ $10 .0001
/6B British Pounds 62,500BP $6.25 .0001
/6C Canadian Dollar 100,000C$ $10 .0001
/6E Euro FX 125,000euro $12.5 .0001
/E7 E-mini Euro FX 62,500 euro $6.25 .0001
/6J Japanese Yen 12,500,000Y $12.5 .000001
/6S Swiss Franc 125,000SF $12.5 .0001
/6M Mexican Peso 500,000 Mex. pesos $12.5 .000025
Hours of Currency Futures Trading
Terra Nova will allow trading in these products from 5:00pm to 4:00pm CST the next day (Sunday- Thursday).
Daily trading ends at 4:00pm CST and reopens at 5:00pm CST. Trades made after 5:00pm are dated as of the next day.
What is a Currency Futures Contract?
Currency futures are standardized financial contracts traded on exchanges and through electronic networks like the Chicago Mercantile Exchange (CME) and their GLOBEX® system. Currency futures are quoted in dollars per unit of foreign currency at the Chicago Mercantile Exchange. To determine the dollar value of a futures contract, simply multiply the contract size by the current price.
For an example, the Swiss Franc Futures contract traded at the CME represents 125,000 Swiss Franc. At the price of $0.6010 USD/SF the Value of the contract would be $75,125 USD ($0.6010 x 125,000).
Now suppose that the price of the Swiss Franc currency future moved to $0.6020, the holder of the contract has profited from the increase in the value of the contract from $75,125.00 USD to $75,250.00 or $125.00.
Another way to calculate the same change in value would be to multiply the change in price (in ticks) by the value of a single tick. The value of a tick is set by the exchange and represents the minimum price fluctuation for a particular contract. The minimum fluctuation (tick) of the Swiss Franc contract is .0001 and the value of that tick is $12.50. In our example the price moved from .6010 to .6020 or 10 ticks or $125.00 (10 x 12.50)
http://www.terranovatrading.com/TNO_Help/Curr_Futures.asp 
