Answer
Hi there,

These are some sources i use for getting forex updates and Daily FX analysis:

http://forextradingguru.blogspot.com/

http://forexmoneymaker.blog.com/

http://www.finexo.com/marketReview

Also sites like actionforex.com and fxstreet.com are also quite good.

Cheers

What is forex?

What do one buy, the stocks of other country?
What do one buy, the stocks of other country's companies?

Answer
The Forex market is the buying and selling of foreign currencies. It is the largest financial market in the world with daily transactions exceeding $2 trillion dollars.

The are actually two different market places dealing with Forex and these are sometimes confused by people. The first is the Forex futures market where a trader is actually purchasing a position in a currency based on his determination that the particular currency will go up or down in price over a specific period of time.

The other is the Spot Forex market. Transactions in this market are made based on a "currency pair" for example the EUR/USD. This particular pair will go up in price if the EUR goes up in value in relation to the USD and it will go down in price if the USD goes up in value in relation to the EUR.

The Spot Forex is becoming more and more popular with regular retail traders since the internet has now made it possible for anyone to easily participate in the market. The issue is in the fact that the Forex market can provide very attractive returns on investment....but it can also very quickly deplete an unknowledgable traders account.

There are a number of Forex brokers that will allow you to open a free demo account and actually "trade" in the market without putting any of your hard earned money at risk. This is highly recommended to determine if you have the knowledge, the skills and the emotional fortitude to participate in this marketplace.

Good luck.

paul