BOE Economic Forecasts Could Sway Sterling

The Pound could react to the Bank of England’s outlook on the UK economy later today, depending on how far it deviates from market expectations.

The Pound has gained another 0.3 percent against the Greenback so far this month, adding to July’s 5.5 percent advance, which was the biggest monthly gain since the Global Financial Crisis. In fact, Sterling has posted a quarter-to-date advance against most of its G10 peers, except for the Swedish Krona and the Norwegian Krone. Traders also appear content keeping GBPUSD in overbought territory for now, with its relative strength index well above the 70 line which denotes overbought conditions.

Such gains are rather uncanny, given the lingering threat of a no-deal Brexit by year-end, as well as market forecasts that the UK could adopt negative interest rates by February. Still, those are concerns with a longer runway, as investors are more preoccupied with the BOE’s verdict in just a few hours from now.

The central bank is widely expected to leave interest rates unchanged at 0.1 percent, and maintain its asset-purchase programme at 745 billion Pounds. Perhaps more pertinent for investors today is the BOE‘s updated projections on growth and inflation, as well as any clues about potential policy tweaks.

Considering that the UK economy is struggling to break free from the coronavirus’s grip, a more downcast outlook should strengthen the case for additional monetary policy support. Keep in mind that, on the fiscal side, the UK government’s support measures for workers are set to expire in October. Pound bulls may feel uneasy at the threat of financial support being withdrawn at a time when the economy could still be struggling to stage its post-pandemic recovery. The notion that the economy will remain adequately supported is a necessary component to the Pound holding on to recent gains.

Markets will also be looking out for signs as to how much policymakers are open to lowering the benchmark interest rate into negative territory in order to help offset the economic pressures heaped on by the pandemic. More dovish signals surrounding the BOE’s policy outlook could see the Pound unwind some of its recent gains against the US Dollar.

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Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Forex Promotions and Rebate Bonuses

Whatever your level of expertise, it’s great to know that you can enjoy frequent promotions and cashback schemes while you’re buying and selling, trading the markets of your choice.

What are Forex Promotions?

Are Apple shares a buy, with more ‘killer’ products in the pipeline? Or is oil too cheap, with geopolitical problems ever present? You can take a view and trade on virtually any market.

Online trading brokers offer many different incentives to encourage a trader to keep active and develop their skills. This means loyal clients can benefit from using and sticking with the broker they can trust.

Forex promotions come in various forms. They include trading bonuses and rewards, trading competitions, free trading signals and state-of-the-art live charting packages.

Visit FXTM today to check out our latest promotions.

What are Forex Rebate Bonuses?

A rebate bonus works like a credit card bonus where a trader can potentially receive a cashback amount after each trade placed. This rebate will be converted into real equity and deposited in your account, usually on a monthly basis. You can then either use this rebate to trade or withdraw it.

Importantly, the reward bonus may reduce your commission costs per trade. This can be a real help if you’re just starting out, and if you’re an experienced trader it’s useful at the end of each month to boost your ‘P&L’.

Why use a broker who offers forex rebate bonuses?

  • Earn and receive cash for every lot you trade directly into your MT4 account
  • There’s no size limit to trading so, big or small, you can receive a bonus into your account as you trade
  • Uncapped cash rebates are yours whether you trade frequently or less often, as there may be no time restrictions on your trading

How to take part in Forex Promotions and Rebate Bonuses

  • Open and fund your account with a certain qualifying amount – choose the best online trading broker for your goals. It should be regulated and offer segregation funds.
  • Claim your rebate bonus and/or promotion – always make sure you check the terms & conditions. It’s best if you can achieve this using your normal trading strategy and don’t neglect your risk management rules.
  • Start trading – using MT4, the world’s favourite trading platform, apply the free tools and live, interactive charts to develop your skills and profit.

Forex promotions and rebate bonuses are great for traders who are active and enjoy their trading. These rewards can significantly reduce commission costs as you’re getting cashback and other returns direct into your trading account.

Just always remember to choose and use a broker you trust, who is regulated and whose platform and conditions suit your trading needs.


Learn more about FXTM’s rewards and promotions*

*Promotions and contests are only available to clients under Exinity Ltd. T&Cs apply.

Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.

FXTM is an international online forex broker offering financial services in forex, CFDs on spot metals and CFDs on Commodity Futures, Indices and Shares.

FXTM brand is authorized and regulated in various jurisdictions. ForexTime Limited (www.forextime.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475. Exinity Limited (www.forextime.com) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295. Forextime UK Limited (www.forextime.com/uk) is authorised and regulated by the Financial Conduct Authority, firm reference number 777911.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.”

FXTM Account Types Explained – Webinar Aug 12

Designed for both new and intermediate traders alike, this presentation focuses on the different types of trading accounts offered by FXTM. Theunis will describe the unique features of each account, as well as discuss a variety of trading strategies to accompany them. Don’t miss out on the chance to learn from the comfort of your own home! All the material presented has been approved by the Company’s Key Individual, in accordance to FSCA guidelines.

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FXTM Forex Educator Theunis Kruger has always been fascinated by economics, with a particular interest in ‘wave’ formations and how they can be used to forecast and analyse trends in the financial markets. He began to trade personally as a hobby, but his keen insights and aptitude soon paved the path towards a successful career. With a decade of solid trading experience to his name, Theunis now enjoys sharing his forex knowledge with others. He also has experience in real estate and holds a degree in Town and Regional planning, complimenting his passion for securing a healthy financial future.

FXTM’s Stocks Account Explored – Webinar Aug 13

This insightful presentation will focus entirely on FXTM’s new Stocks account, which is available exclusively on MetaTrader 5. Participants will discover the features and specifications of this new offering, and learn more about the difference between stock trading and stock CFD trading. Theunis will also offer step-by-step examples and practical demonstrations. A live Q&A session will follow, providing you with the perfect opportunity to get your most pressing questions answered by our expert! Don’t miss out on the chance to learn from the comfort of your own home! All the material presented has been approved by the Company’s Key Individual, in accordance to FSCA guidelines.

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FXTM Forex Educator Theunis Kruger has always been fascinated by economics, with a particular interest in ‘wave’ formations and how they can be used to forecast and analyse trends in the financial markets. He began to trade personally as a hobby, but his keen insights and aptitude soon paved the path towards a successful career. With a decade of solid trading experience to his name, Theunis now enjoys sharing his forex knowledge with others. He also has experience in real estate and holds a degree in Town and Regional planning, complimenting his passion for securing a healthy financial future.

Lukman’s Week Ahead: Market Themes to Watch Out For – Webinar Aug 17

An authority on the markets, Lukman is frequently quoted by leading media across the globe, including the BBC, CNBC, CNN Money and Reuters. Join Lukman for expert insights on the latest market movements, potential trading opportunities and what the week ahead has in store for traders.

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Enjoy an expert look at:

• The key themes driving the financial markets
• Technical and fundamental trading ideas on the MT4 platform
• How to use the latest FXTM trading signals
• Using fundamental analysis to increase your profit potential
• What to monitor over the coming week

Lukman Otunuga has been a Research Analyst at FXTM since 2015. A keen follower of macroeconomic events, with a strong professional and academic background in finance, Lukman is well versed in fundamental and technical analysis. His in-depth analysis on global currency and commodity markets is often cited by leading international media, including the Associated Press (AP), BBC, CNBC, CNN, Marketwatch, NASDAQ, and The Telegraph. He has also appeared on Africa’s biggest television network, NTA 2. Lukman holds a BSc (hons) degree in Economics from the University of Essex, UK and an MSc in Finance from London School of Business and Finance.

FXTM Invest, Your Strategy Manager – Webinar Aug 05

This presentation goes into greater detail about our innovative copy trading program FXTM Invest, as well as how to learn more about your chosen Strategy Manager(s) and their approach to trading. This will help you to better understand the importance of risk management. Theunis will also offer step-by-step examples and practical demonstrations. A live Q&A session will follow, providing you with the perfect opportunity to get your most pressing questions answered by our expert! Don’t miss out on the chance to learn from the comfort of your own home! All the material presented has been approved by the Company’s Key Individual, in accordance to FSCA guidelines.

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FXTM Forex Educator Theunis Kruger has always been fascinated by economics, with a particular interest in ‘wave’ formations and how they can be used to forecast and analyse trends in the financial markets. He began to trade personally as a hobby, but his keen insights and aptitude soon paved the path towards a successful career. With a decade of solid trading experience to his name, Theunis now enjoys sharing his forex knowledge with others. He also has experience in real estate and holds a degree in Town and Regional planning, complimenting his passion for securing a healthy financial future.

Forex Trading Basics – Webinar Aug 05

This insightful presentation will guide participants through the terminology of online trading, and provide an overview of balance and equity, margin levels, pips and much more. Don’t miss out on the chance to learn from one of our experts from the comfort of your own home! All the material presented has been approved by the Company’s Key Individual, in accordance to FSCA guidelines.

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Olumuyiwa Odukale is a Trading Educator and Market Analyst at FXTM with a proven knowledge of FX, CFDs and commodities. He has over five years of trading experience within the financial markets, and has regularly tutored at investment seminars and trading strategy workshops. Olumuyiwa holds a Bachelor of Arts degree in Languages, a certification course in Management and is currently working towards a Master’s degree.Prior to joining FXTM in 2016, he gained invaluable career experience as a customer experience expert within the telecommunications, hospitality and media industries, which served to hone both his trading and analytical skills.

RoboForex Launches its Multi-asset Investment Platform R Trader in the Republic of Belarus

Aug. 4th, 2020

Minsk, the Republic of Belarus

At the moment, RoboForex clients can invest through the demo and real accounts with USD and EUR as the base currency. The minimum amount of the first deposit to start investments in R Trader is 100 USD or the equivalent in other currencies. The maximum permissible leverage is 1:20. Also, clients have the opportunity to choose from the netting or hedging position accounting model for their accounts and join the Affiliate program.

R Trader is a new-generation multi-asset investment platform. Users connect to a web terminal by means of a browser installed on any electronic gadget with a connection to the Internet. Investors are offered more than 10,000 financial instruments, including base assets on stocks of American, German, and Russian companies, foreign currency pairs, stock indices, metals, commodities, and other instruments. R Trader extended functionality allows users to invest right from the charts, monitor “Level 2 market depth”, add instruments to Watchlists, and place Trailing Stop orders, which are executed on the server with no need for leaving your home PC on. A distinguishing feature of the web platform is a free built-in Strategy builder, which requires no programming skills and helps to create, run, and backtest investment strategies in a matter of minutes.

Andrei Dziarnovich, CEO RoboForex BY: “We’re very pleased to offer our clients one of the best and most advanced investment platforms in the industry. R Trader has both a wide range of investment instruments and enhanced functionality, which allows investors to gain real high-quality experience. First of all, the platform will be interesting to those who invest in stocks, the number of which in the platform exceeds 10,000. The commission is one of the lowest in the market. Also, there are ETFs, Indices, and other assets. A user-friendly interface, high order execution speed, competitive investment conditions – all this might be really interesting to our clients and we hope that they will duly appreciate opportunities R Trader has to offer.

About R Trader

R Trader is a result of cooperation between RoboForex and UMSTEL, which created a cloud multi-asset investment platform. R Trader offers access to 8 asset types and more than 12,000 instruments to invest in. The platform is very convenient and easy-to-use and provides clients with the maximum transparency of all investment operations. At the same time, R Trader functionality is as good as the leading desktop platforms. More detailed information about the platform can be found on roboforex.com

About RoboForex BY

“RoboMarkets” LLC provides services in the Republic of Belarus under the brand of RoboForex. The Company has a special certificate of registration in the forex companies register issued by the National Bank of the Republic of Belarus. The Company is also a member of the Financial Market Development Association of Belarus (ARFIN). More detailed information about the Company can be found on its website at www.roboforex.by.

AUDUSD Awaits RBA’s Reaction to Melbourne Lockdown

The Australian Dollar has been on a remarkable rise, having strengthened against all of its G10 peers since March 31. AUDUSD has surged over 29 percent since its March 19 low, with the Australian Dollar taking advantage of the weaker Greenback while riding the optimism around China’s post-pandemic recovery.

However, in the days leading up to the central bank’s meeting, AUDUSD has fallen away from the 0.72 psychological level. Aussie traders now stand ready to use any cues out of the RBA to determine how this G10 currency will fare for the rest of this week.

Investors will assess Australia’s monetary policy outlook in light of Victoria state having declared a state of disaster amid a resurgence in coronavirus cases. Victoria is home to about 20 percent of the nation’s population and accounts for about a quarter of Australia’s GDP. With residents of the city of Melbourne now subject to a curfew between 8:00PM and 5:00AM, every day until at least September 13, such lockdown measures are expected to have a major impact on the Australian economy.

The RBA’s previous optimism after the country’s swifter-than-expected reopening following the first wave of Covid-19 cases could be dampened by the realities unfolding in Victoria state. It remains to be seen how the RBA will factor this latest lockdown into its quarterly economic projections due Friday, or if it would make any more policy adjustments to offset the economic effects.

A surprise rate cut today, or any dovish tones out of the central bank this week, could heap more downward pressure on AUD. Still, policymakers might welcome a weaker currency as it helps alleviate Australia’s economic pressures. However, should the RBA stick to its wait-and-see approach, then AUDUSD could resume its upward trajectory, with the recent drop being interpreted perhaps as nothing more than a technical pullback since reaching overbought conditions last week.

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Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Introduction to Stock Trading – Webinar Aug 04

This insightful presentation is designed to introduce FXTM’s new stock trading service, available exclusively on our Stocks account. Participants will discover the fundamentals of stock trading including market averages, pricing factors and different approaches to trading. Ali will also reveal the importance of volume, and both pre and after-market sessions. Don’t miss out on the chance to learn from the comfort of your own home! All the material presented has been approved by the Company’s Key Individual, in accordance to FSCA guidelines.

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Ali Mortazavi is a Market Analyst and Trading Educator at FXTM. He has an academic background in Economics, with over five years of experience in the financial markets. Prior to joining FXTM, Ali gained invaluable career experience as a stock market analyst and macroeconomic analyst in a brokerage company. Since joining the FXTM team at the end of 2019, he has continued to pursue his passion for analysis and trading education. To date, more than 500 of Ali’s analytical interviews and articles have been published by a variety of media outlets.

FBS Trader Won Best Mobile Trading Platform in Asia Award

It is a great step forward and a high honor to meet all the criteria of the judging panel. They recognized FBS Trader’s convenience of use, innovative approach to mobile trading and excellence of orders processing.

FBS Trader was designed to be both effective and user-friendly. With its simplified interface and intuitive handling, it attracts both new and experienced traders. Promoting a mobile approach to investing, FBS Trader provides users the comfort of staying in control of the trades anywhere and anytime.

Not only FBS Trader is convenient, but also functional. Comprising a variety of instruments, it has something to offer to any taste: currencies, commodities, metals and stocks. Every instrument is provided with charts of two types: line and candlestick, and detailed real-time info to help traders make decisions on the go. For any questions arising, it is possible to contact a 24/7 multilingual support directly in FBS Trader.

Another thing FBS Trader cares for is the security. That is why it possesses a Pin and Touch/Face ID function appreciated by traders who work with the platform.

FBS Trader offers a demo account and a no-deposit $100 bonus account to try out its features. The last one includes onboarding to help navigate through the platform. All this provides traders with a smooth start in FBS Trader without a need for an initial deposit.

Best Mobile Trading Platform Asia 2020 Award is just a start for FBS Trader. With a constant strive for developing and perfecting features, FBS Trader has a promising future.

Latest Surge in Risk Assets to Be Challenged by Data and US Congress

US futures are steady as investors have lots to digest including important jobs figures, renewed US-China tensions and a key ruling on the new stimulus package from Congress.

In currency markets, the Dollar could not maintain an early morning rally. After marching towards 93.70, the DXY returned to where it started at 93.45. Low interest rates remain the biggest challenge to attracting Dollar inflows, with current 10-year bond yields stuck near 0.5% and real yields sitting around -1% when deducting for inflation. Large twin deficits along with negative real rates is a depressing formula for any currency, even if it is assumed to be a safe haven one. However, given the bearish bet on the USD has risen again to the largest overall since April 2018, we may see some sort of short squeeze going forward leading to some spikes in the US currency.

With the earnings season coming closer to an end, the focus will shift back to data and the decision by Congress on the next Covid-19 stimulus package. Discussions between the Democrats and Republicans are making some progress especially as both are on same page with regards to the direct cash payment of $1,200 to Americans, but unemployment assistance remains a key sticking point and a middle ground doesn’t seem to have been reached yet. Democrats want to keep the federal assistance as the previous package of $600 per week, while the White House is calling for a third of this amount. The longer the disagreement persists, the higher the chances of a market correction.

While most agree that the bottom in economic activity is behind us, the question has now become whether the US recovery is showing signs of cracking and the Non-Farm Payrolls figure due to be released on Friday will probably answer this. After 7.5 million jobs were created over the months of May and June following 22 million job losses in the prior two months, markets expect another 1.65 million jobs to have been added in July. However, expectations vary greatly with some even expecting a contraction given two consecutive weeks of increases in initial jobless claims. The way forward is likely to be bumpy as several US states are re-imposing lockdown measures after spikes in Covid-19 cases. This probably won’t show up in the data until the release of the August figures in September. Investors should also keep their eyes on other US data releases out this week for further evidence on whether the economic recovery is stalling including manufacturing and services activity, motor vehicle sales, factory orders and the weekly initial jobless claims.

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Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Lukman’s Week Ahead: Market Themes to Watch Out For – Webinar Aug 03

An authority on the markets, Lukman is frequently quoted by leading media across the globe, including the BBC, CNBC, CNN Money and Reuters. Join Lukman for expert insights on the latest market movements, potential trading opportunities and what the week ahead has in store for traders.

Enjoy an expert look at:

• The key themes driving the financial markets
• Technical and fundamental trading ideas on the MT4 platform
• How to use the latest FXTM trading signals
• Using fundamental analysis to increase your profit potential
• What to monitor over the coming week

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Lukman Otunuga has been a Research Analyst at FXTM since 2015. A keen follower of macroeconomic events, with a strong professional and academic background in finance, Lukman is well versed in fundamental and technical analysis. His in-depth analysis on global currency and commodity markets is often cited by leading international media, including the Associated Press (AP), BBC, CNBC, CNN, Marketwatch, NASDAQ, and The Telegraph. He has also appeared on Africa’s biggest television network, NTA 2. Lukman holds a BSc (hons) degree in Economics from the University of Essex, UK and an MSc in Finance from London School of Business and Finance.

Can Oil Register a 4th Consecutive Monthly Gain?

Recall that more supply is entering the markets this month, after OPEC+ agreed to ease up on its production cuts from the 9.6 million barrels a day in July to 7.7 million in August. Investors may begin to grow concerned that global demand may not yet be solid enough to soak up the restored supply.

At the time of writing, Brent Oil is dipping further away from the psychologically-important $45/bbl level.

Meanwhile WTI crude is threatening to falter back into sub-$40 territory and test its 5-day simple moving average as a support level.

The PMI readings from around the world due on Monday would offer the latest signals about the state of the global economy. China’s July Caixin PMI posted a better-than-expected reading of 52.8, compared to the median estimate of 51.1. Having now registered a PMI reading above 50 for a third consecutive month, China’s manufacturing conditions are firmly in expansionary territory. However, other major economies must also report a similar trend today in order to offer Oil bulls some measure of solace.

Considering the incoming OPEC+ supply, along with the still-tentative recovery in global demand, markets are already expecting Saudi Aramco to indicate that the world isn’t yet ready to tolerate higher prices. The oil giant is slated to lower its selling prices of Arab Light crude to Asian customers for the first time since May in order to help offset the incoming supply. Such a move would suggest that further gains for Oil would be much harder to come by, potentially bringing an end to Oil’s run of three consecutive months of gains. The official September selling price is set to be unveiled within the first five days of this month.

As things stand, major economies across Asia and the Americas are struggling to break out of the pandemic’s grip, which in turn is choking economic activity and the demand for Oil. The longer that daily lives are disrupted by the pandemic, such as commuters being barred from driving to work or to send students to school, the longer Oil prices risk unravelling recent gains.

At least in the interim, Oil prices can enjoy support from the weaker US Dollar and any bouts of risk-on sentiment, as the world continues to wait for more clarity on the global economic outlook.

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Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Monthly Outlook – Webinar Aug 03

This interactive presentation reveals potential trading opportunities in the month ahead, and reveals what’s in store for the Dollar, the US markets and much more. A live Q&A session will follow, providing you with the perfect opportunity to get your most pressing questions answered by our experts! Don’t miss out on the chance to learn more about what’s moving the markets this month! All the material presented has been approved by the Company’s Key Individual, in accordance to FSCA guidelines.

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Lukman Otunuga is a research analyst at FXTM. A keen follower of macroeconomic events, with a strong professional and academic background in finance, Lukman is well versed in the various factors affecting the currency markets.

Prior to joining FXTM, Lukman spent two years as a research analyst with international currency broker FXCM, where he focused on technical and fundamental analysis of the global currency, commodity and stock markets. Lukman was also responsible for leading educational seminars for international and local high net worth individuals, and has published a series of educational articles on forex trading with City A.M.

Lukman holds a BSc (hons) degree in Economics from the University of Essex, UK and an MSc in Finance from London School of Business and Finance, where he studied corporate finance, mergers & acquisitions and the role of international financial institutions.

Tan Chung Han (Han Tan) joined FXTM in January 2019 as a Market Analyst. A highly experienced financial journalist and news presenter with an in-depth understanding of the Southeast Asia and Asia-Pacific regions, Han will be providing valuable insights into local and international market news, as well as macroeconomic trends. Han will also act as the face of the company for these regions by providing market commentary, thereby solidifying FXTM’s reputation as a leading authority on world currency trends.

Since his graduation in 2006 from Liberty University in Virginia, USA, Han has worked for a number of national broadcasters, including Bloomberg TV Malaysia, BFM and TV3. He also reported for the popular shows Dashboard and Moving Malaysia on Bloomberg TV Malaysia. As a journalist, Han had the opportunity to interview key policymakers and industry leaders such as Cecilia Malmstrom, Malaysian politician YB Lim Kit Siang, former Malaysia Airlines CEO Peter Bellew and 2006 Nobel Peace Prize winner Muhammad Yunus. As part of the wider Bloomberg TV Malaysia team, Han was part of a network that interviewed spokespeople from the likes of Standard Chartered and HSBC. Han has also moderated panel discussion with representatives from Bank Negara Malaysia and World Bank Malaysia.

During this time as a journalist and news anchor, Han developed a sterling reputation for his incisive analysis on currencies and commodity markets.

Han will be contributing to FXTM’s award-winning Market Research and Analysis team by providing in-depth insights on global financial markets, with a focus on Asia-Pacific and Southeast Asia.

After the Fed’s Reassurance, It’s Time for Fiscal Policymakers to Deliver

Market participants are growing more confident that interest rates will remain near zero for a long time to come, even if inflation starts to tick higher. That is one risk-supporting factor investors do not need to worry about in the medium-term. However, the line added to the Fed’s press release stating that ’the path of the economy will depend significantly on the course of the virus’ should be taken into consideration as to how much risk needs to be in portfolios.

While some of the worst affected US states have shown that Covid-19 infections have peaked, the virus is not taking a break. Deaths in the US exceeded 150,000 on Wednesday and with a vaccine not expected to hit the market until later this year or 2021, more measures need to be taken to control the pandemic which suggest more economic pain. That is especially the case when we look outside of the US with Brazil reporting a daily record of 69,000 new cases on Wednesday and new outbreaks seen in Asia, Spain and Australia.

Now the pressure has turned to the fiscal side and chances for disappointment are high as Democrats and Republicans are nowhere close to a deal. Both parties are struggling to find common ground and with millions of jobless Americans facing the expiration of their $600 a week unemployment benefit, any further delay could lead to serious economic shocks. We still believe that both parties will eventually come to an agreement, but the more compromised the agreement is the more pressure it will put on market sentiment.

Asian equities traded mostly higher this morning and European equities are expected to show slight gains. However, with US futures turning negative after yesterday’s strong performance, these may not hold. There are a lot of earnings releases from Europe and the US today, but the most watched results will be from the four Big Tech names Amazon, Apple, Alphabet and Facebook who report after the market closes. Those companies, including Microsoft, have been the major force driving US equity indices higher, so expect to see a lot of volatility in the next 24 hours.

Open your FXTM account today


Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Join HotForex Spanish Webinar, The Importance of a Good Trading Plan – 30 July

Join the webinar with Aldo, the market analyst of HotForex, as he explains the importance of creating a trading plan and some of the key areas that should be included. Don’t miss out on this chance to update your trading plan with expert help and learn:

• Why it’s important your plan works for you
• Why you need to evaluate your plan
• How a plan keeps you focused

Join Our FREE Spanish Webinar 30 JULY 2020, 12:00 PM

Live Market Analysis and Q&A – Webinar July 30

Designed for traders of all experience levels, this interactive webinar will teach guests to filter decent from inadequate possible setups in the charts, as well as discover the dangers of over-analysing. Attendees will also be encouraged to participate and ask Theunis their most pressing industry questions during a lively Q&A session. Don’t miss out on the chance to learn from our expert from the comfort of your own home! All the material presented has been approved by the Company’s Key Individual, in accordance to FSCA guidelines.

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FXTM Forex Educator Theunis Kruger has always been fascinated by economics, with a particular interest in ‘wave’ formations and how they can be used to forecast and analyse trends in the financial markets. He began to trade personally as a hobby, but his keen insights and aptitude soon paved the path towards a successful career. With a decade of solid trading experience to his name, Theunis now enjoys sharing his forex knowledge with others. He also has experience in real estate and holds a degree in Town and Regional planning, complimenting his passion for securing a healthy financial future.

FXCubic Launches High Performance Real-Time Markup API

The technology provider recently announced the launch of its new high-performance real-time bridge markup API, a sophisticated and proprietary solution which is highly sought after by high volume brokers. The API allows brokers to instantly adjust their mark-ups in real-time by their chosen algorithm, depending on their business model and the current market opportunities. This grants them the flexibility to adapt and react to whatever is going on in the markets and in their own book, monitoring their total exposure and adjusting their mark-ups (per trading instrument) accordingly to ensure maximum profitability.

FXCubic CEO, Ege Kozan, commented: “We believe this is truly groundbreaking, as this kind of technology has never been accessible to the vast majority of brokers. When used right, such technology can have a big impact on a broker’s profitability, so we are expecting our clients to take full advantage of this new tool and apply it to their business very rapidly.

Committed to helping brokers maximize their profits through disruptive technology, uniquely designed algorithms and automated processes, FXCubic promises to keep adding to its long list of unprecedented features for institutional and retail clients.

To learn more about FXCubic and their technology visit their website at www.fxcubic.com.

Mid-Week Technical Outlook: Greenback Primed for Further Weakness

Other negative factors including worsening US-China tensions, uncertainty surrounding November’s presidential elections and shaky economic data have compounded to the Dollar’s pain and misery. With the Dollar Index (DXY) on track for its biggest one month decline since April 2011, it is fair to say that bears remain in the driving seat.

King Dollar could be instore for more punishment this evening if the Federal Reserve reinforces its dovish message and expresses concerns over the US economy. While the central bank is widely expected to keep interest rates unchanged at near zero, much of the attention will be directed towards the policy statement and speech by Fed Chairman Jerome Powell. Given how data from unemployment claims still remains a cause for concern, Powell may reiterate that the Fed will do whatever it can to support the recovery – meaning interest rates may be left at near-zero for even longer.

Looking at the technical picture, the DXY fulfills the prerequisites of a bearish trend on the daily timeframe. Prices are trading within a bearish channel, the MACD has crossed to the downside while the candlesticks are trading well below the 20 Simple Moving Average. If 94.00 proves to be reliable resistance, the DXY may slip back towards 93.50 and 93.00, respectively. A breakdown below 93.00 could open the doors back to levels not seen since August 2018 below 92.20.

USDJPY eyes 104.65 level

Yesterday we discussed the possibility of the USDJPY testing 104.65 after breaking below the 105.00 support level. Prices are under pressure on Wednesday morning and could trend lower if the Dollar weakens ahead of the Federal Reserve policy meeting. Sustained weakness below the 105.00 dynamic resistance could trigger a selloff towards 104.65 and 104.10.

USDCAD breakdown setup in play

The USDCAD is gearing for a breakdown below the 1.3350 on the daily timeframe. Prices are trading comfortably below the 20 and 50 Simple Moving Average while there have been consistently lower lows and lower highs. A solid breakdown below this support could trigger a decline straight towards 1.3200 which is 150 pips away.

AUDUSD rides higher on Dollar weakness

Expect the Australian Dollar to appreciating against a broadly weaker Dollar in the short term. The daily charts suggest that bulls still have some stamina with a breakout above 0.7150 opening a path towards 0.7300. If 0.7150 proves to be a stubborn resistance, prices may decline back towards the 0.6960 regions.

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