Borrowing from the ECB by banks in these countries has hit record highs in recent months even though total lending has fallen about a third since July, highlighting the difficulties still faced by some institutions.

Ratings agency Standard & Poor’s cut Ireland’s credit rating last week to AA- on the back of an upward revision to the country’s banking crisis bill.

Analysts said the fragile situation in markets and the uneven recovery meant the ECB, like other central banks, would have to tread carefully in pulling back support measures.

On the market, the euro was up 0.1 percent at $1.2823, gaining support after Spain and France drew decent demand as they sold a combined 12.2 billion Euros in bonds.

The dollar was down at 83.99 yen, close to a 15-year low of 83.58 yen hit last week.

In August, over 8,500 traders from 140 countries took benefit of our unbeatable 100% offer; This month we are doing it again and we are proudly inviting you to be the next lucky trader to double his money without even trading. Just open a new forex account or replenish an existing account to get your initial capital doubled at no extra efforts. Please read the complete terms and conditions of our September bonus and get ready to get started…

How to Get a Free 100% Deposit Bonus?
Open a Forex Trading Account or replenish an existing account and you’re automatically entitled to get up to 100% bonus based on our terms of bonus program listed below.

How do I get the additional 100%, again?
If you’ve been unlucky with your trades and your account has been stopped-out, we will award you a 100% bonus again on your next replenishment of your stopped-out account. This is a great reward offered by FIGfx for loyal clients that were unlucky with their trading and is given to all accounts taking benefit of our September bonus. This is a great chance to recover your losses by getting a second chance to get a 100% bonus.

By adding funds to your stopped-out account, you are automatically awarded the 100% again on the next replenishment/deposit.
Please notice that a total of two bonuses of 100% can be given to a single account, only.

How and When do I get my bonuses?
The initial 100% deposit bonus is credited to your account instantly upon your first deposit. As for the other 100% replenishment bonus, it is credited instantly when you replenish your account after a stop-out.

Note: Credits can not be accumulated. To receive one credit bonus, the previous one will be automatically credited out.

Terms an Conditions

• Offer is valid for fully verified accounts only
• Offer is valid until October 1st 2010 (00:01 CET)
• There is a minimum deposit requirement of $25
• The 100% is given maximum two times; Once upon initial deposit, and once on the 1^streplenishment after a stop-out
• Fund transferred between accounts are not eligible (see exceptions below)
• Internal account transfers does not qualify them to get the bonus (see exceptions below)
• Bonus cannot be transferred between accounts
• Bonus cannot be combined with any other promotions
• Only one account per person is eligible to receive the bonus
• Participant must make a minimum lot round turn transactions, see table below
• Bonus will be applied to an account as usable credit bonus
• Bonus does not apply for managed accounts.
• Bonus is not given to accounts banned/blocked earlier for breaching any terms of service.
• Bonus is not withdraw-able until the required round turn lot transactions are completed
• Bonus will be removed from an account after 45 days of account inactivity
• Offer available in All countries except China, Iran, Pakistan, Malaysia, Kuwait and Australia

Internal Account Transfer Exceptions
For our traders in Iran, Nigeria, Malaysia and Indonesia; FIG will award the bonus on internal account transfers if your account is opened with/by our regional introducing brokers in your region. Currently, users of the following introducing brokers can enjoy the bonus even by internal account transfers:

• Indonesia: DuyDuy Network (Mr. Kerry Sumbadji)
• Nigeria: FIGfx Nigeria (Mr. Uchechukwu Alozie)
• Iran: FIGfx Iran (Mr. Iman Salahashour)
• Malaysia: FIGfx Malaysia (Mr. Rizal Maslan)

Bonus Award Table

• For deposits $25-$125 || Bonus: 100% + 100% on replenishment after a stop-out
• For deposits $126-$250 || Bonus: 60% + 60% on replenishment after a stop-out
• For deposits $251-$2000 || Bonus: 40% + 40% on replenishment after a stop-out
• For deposits $2001-$10,000 || Bonus: 20% + 20% on replenishment after a stop-out
• For deposits $10,001-$25,000 || Bonus: 10% + 10% on replenishment after a stop-out
• For deposits $25,001-infinte || Bonus: 5% + 5% on replenishment after a stop-out

Please notice that while the 100% bonus is usually credited instantly, it might take up to 48 hours to appear as a credit on your account.

Minimum Lot Round Turn

• 15 Lots required for deposits of $25-$125
• 20 Lots required for deposits of $126-$250
• 25 Lots required for deposits of $251-$500
• 35 Lots required for deposits of $501-$1,000
• 50 Lots required for deposits of $1,001-$1,500
• 65 Lots required for deposits of $1,501-$2,500
• 99 Lots required for deposits of $2,501-$5,000
• 128 Lots required for deposits of $5,001-$10,000
• 256 Lots required for deposits of $10,001-$25,000
• 333 Lots required for deposits of $25,001-infinite

Important Notice:
Credit can not be followed by another credit; Hence, bonus can be awarded only once either when opening a new account, or when replenishing an old one. If you have an old credited bonus on your account from a previous offer, it will be removed before you get the September bonus of the same 100%.

Bonus Withdrawal: Fair Usage Policy

• Bonus can be withdrawn after completing the minimum required lot round turn
• Bonus will be removed from your account upon first withdrawal without completing minimum lot round turn
• Additional Bonus requires the exact additional amount of minimum lots as the initial 100% bonus

Trade More, Earn More
Upon withdrawal of the bonus money, the FIG assistant from the payments department will check your account for your pip average. The higher your pip average is, the bigger portion of the bonus money will be withdrawn per your request.

• For pip average > 3 pips, withdrawn bonus will be 10% only of the 100% initial bonus
• For pip average > 5 pips, withdrawn bonus will be 15% only of the 100% initial bonus
• For pip average > 10 pips, withdrawn bonus will be 20% only of the 100% initial bonus
• For pip average > 15 pips, withdrawn bonus will be 30% only of the 100% initial bonus
• For pip average > 20 pips, withdrawn bonus will be 50% only of the 100% initial bonus
• For pip average > 35 pips, withdrawn bonus will be 75% only of the 100% initial bonus
• For pip average > 50 pips, withdrawn bonus will be 100% only of the 100% initial bonus

You can check your pip/trade average here anytime

Additional Terms

FIG reserves the right, at our sole discretion, to disqualify any individual that tampers or attempts to tamper with the operation of the Promotion, or breaches the Promotion Terms or Our Terms.

FIG reserves the right to alter, amend or terminate this Promotion, or any aspect of it, at any time and without prior notice.

FIG may make changes to these Promotion Terms and will notify you of these changes by posting the modified terms on the FIGfx Brokers website.

FIG reserves the right, at our sole discretion, to disqualify any individual from taking benefit from this offer without expressing any reasons and based on our internal client categorization procedures.

FIG recommends you to revise these Promotion Terms regularly and, by your continued use of the FIGfx Brokers website and services you accept any such modified terms.

FIG assumes that each contributor has read and fully understood our terms of service, scalping policies, affiliate terms of service and other related documentation in regards to his account type.

Any dispute or situation not covered by these Promotion Terms will be resolved by our management in a manner it deems to be the fairest to all concerned. That decision shall be final and/or binding on all entrants. No correspondence will be entered into. If these Promotion Terms are translated into a language other than English, then the English version of the Rules shall prevail where there is an inconsistency.
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ADP revised down the July level to a gain of 37,000 from a prior estimate of a 42,000 increase.

“The decline in private employment in August confirms a pause in the recovery already evident in other economic data,” said Joel Prakken, chairman of Macroeconomic Advisers, which produces the report from anonymous payroll data supplied by ADP, in a statement.

However, the ADP private-payrolls report has been weaker than official government data based on surveys from business establishments and households.

“Demand growth has slowed, largely triggered by the spring plunge in stock prices, and cautious companies are responding by holding fire on hiring,” wrote Ian Shepherdson, chief U.S. economist with High Frequency Economics, in a research note.

“We do not expect a spiral down into sustained serious net job losses but a real revival in payrolls is clearly still some way.”

Economists believe that this might be signalling that the economy’s slowdown is stabilizing. Seasonal factors might have had an effect because the index typically gains as factories restart following July maintenance, Mizuho Securities Asia Ltd. said.

After the news, the yen erased losses against the dollar to trade 0.1 percent stronger at 84.13. It also pared losses against the euro, and was 0.1 percent weaker at 106.83.

Second, the Euro zone manufacturing PMI which came in at a seasonally adjusted 55.1, down from 56.7 in July, but up from the earlier estimate of 55.0.

The data showed that the Euro zone manufacturing activity fell to a six-month low in August, although the rate of expansion remained robust and faster than the average.

The big two of Germany and France remained the primary drivers of growth, with activity in countries such as Italy, Spain and the Netherlands still relatively modest.

Finally, the U.K. manufacturing PMI came in at a seasonally adjusted 54.3, down from 56.9 in July. The data showed that activity fell to a nine-month low August, with rates of production and incoming new orders both slowing.

The market is also waiting for the release of the U.S. manufacturing PMI on New York’s session which is expected to fall to 53.2 from a previous reading at 55.5.

One positive piece of economic news was a measure of economic confidence taken by the European Commission that came in at its highest level in more than two years.

Canada reported a current account deficit that grew by $2.6 billion to a higher-than-expected $11 billion in the second quarter, prompting some to anticipate an unfortunate surprise in the second-quarter GDP figures that come out Tuesday.

The market reacted in various trends towards the news and its indications, though the exchanges were closed in the United Kingdom for a holiday.

GBP/USD broke below 1.5500 and tumbled to 1.5455, hitting a fresh daily low. The Canadian dollar was down 39 basis points to 94.63 cents U.S.

On commodities markets, crude oil was down 69 cents to $74.48 U.S. a barrel in New York. Gold was up 60 cents to $74.48 U.S. an ounce.

The Dow Jones industrial average was down about 70 points, or 0.7 per cent, to 10,080 at midday. The Nasdaq composite index was off around 15 points, or 0.7 per cent, 2,140.

Economists forecasted the U.S. GDP growth in the second quarter probably to be revised down to 1.4 percent annualized rate from the 2.4 percent rate projected last month. In the first quarter, the economy grew at a 3.7 percent annual rate.

The increase in real GDP mainly reflected positive contributions from personal consumption, non-residential fixed investment, federal government spending, private inventory investment and residential fixed investment, the US Department of Commerce said.

Earlier today the Office for National Statistics said UK GDP rose 1.2 percent in the second quarter of 2010, revised up from initial estimate of 1.1 percent, and 1.7 percent higher than the second quarter of 2009.

The British news also raised all European futures higher. FTSE 100 traded up by 5.59 points, while DAX30 traded up by 1.79 points and CAC 40 traded up by 0.40 points.

The Dollar has jumped across the board, especially against the Japanese Yen, immediately after the release of data.

USD/JPY jumped about 50 pips higher at 84.85, to hit a fresh session high at 85.10.

GBP/USD dropped about 40 pips, from levels around 1.5510, to session low at 1.5465, while the EUR/USD bounced from, 1.2695 session low, all the way to intra-day high at 1.2740.

The upward revision in GDP growth was largely led by the construction sector as growth in construction output was revised up to 8.5% from 6.6% in the previous estimate.

On the year, the economy grew 1.7 percent in the second quarter, 0.1 percentage points higher than the ONS’s first estimate and economists’ forecasts. The economy grew 0.3 percent in the first three months of the year.

The figures provide further evidence that Britain’s economic recovery accelerated sharply during the first half of the year but economists are concerned that a weakening world economy and looming UK government spending cuts will sap growth in 2011.

“The second quarter is still likely to represent the high point of quarterly growth as fiscal tightening and a renewed slowdown in global activity constrains a more robust recovery,” said Hetal Mehta, an economist for Daiwa Capital Markets.

The pound reacted slightly to the news dropping a little but showing recovery later on. The GBP/USD recovered from its session low at 1.5484 to hit a high at 1.5539. The GBP/JPY is trading between 131.64 high and 130.75 which is below yesterday’s high at 132.00.

“We are not seeing the type of job gains that we need to generate a self-sustaining economic expansion. The recovery is definitely in jeopardy.”

Initial claims for state unemployment benefits fell 31,000 to a seasonally adjusted 473,000 last week, better than market expectations for a drop to 490,000.

The report will be of little comfort for President Barack Obama and his fellow Democrats ahead of a tough mid-term election in November.

The economy’s poor health has become the campaign issue for the November vote and could hurt the Democratic Party’s chances of fighting off Republicans.

Although most economists do not believe the economy is slipping back into recession, they say a quarter of contraction in output could not be ruled out. The tide of weak data so far for July has prompted some economists to lower their growth forecasts for the third quarter.

The softening economic outlook is set to dominate Friday’s gathering of central bankers from around the globe.

Federal Reserve Chairman Ben Bernanke is likely to signal his views about the uncertain prospects for domestic economy but probably will not offer many clues on whether the U.S. central bank will pump more cash to keep the recovery going.

New orders growth in the 16 nations that use the euro unexpectedly slowed to 22.6% compared with the previous year, following a 23% rise in May. Economists had forecast a 24% increase.

Excluding heavy transport equipment, for which changes tend to be more volatile, orders growth halved to 1.6% on a monthly basis from 3%. Annually, orders advanced 22.5% compared with 22.8% in May.

Annual growth in new orders for intermediate goods as well as non-durable consumer goods eased from the previous month.

According to Purchasing Managers’ survey data released by Markit Economics on Monday, manufacturers reported a faster increase in new orders in August, despite growth easing to the slowest of the year so far.

However, there was a deceleration in overall private sector activity in August with growth dependent upon the region’s two biggest economies France and Germany.

The yen advanced against 15 of its counterparts because of the anticipation of negative data reports that will be released this week; showing slowdowns in U.S. home sales and Japanese export growth.

The yen climbed to 108.19 per euro from 108.83 in New York on Aug. 20, after reaching 108.24, the highest since July 1.

The euro traded near a five-week low against the dollar after European data showed manufacturing slowed in August.

The Euro-Zone advanced PMI Composite index in August slumped, reaching 56.1, compared with the previous 56.7 and the expected 56.3. After the data the euro reached $1.2680 from $1.2712 on Aug. 20, when it reached $1.2664, the lowest since July 13.

“We’re back to tension in the euro-zone and uncertainty about the global economy,” said Neil Mellor, a currency strategist at Bank of New York Mellon Corp. in London. “In this environment we’re likely to see a stronger yen and franc.”

Moreover, Australia’s currency weakened after voters failed to elect a majority government for the first time in 70 years. The Australian dollar slipped to $0.8881 and dropped to ¥75.82.