FP Markets Expands Its CFD Trading Offering in Commodities, Metals and Indices.

October 19th 2020, Sydney – Recently awarded as the ‘Best Value Global Forex Broker’ for a second consecutive year, the company continues to set the benchmark in CFDs and Forex and is pleased to announce it has added the following products to its offering:

  • Volatility Index (VIX)
  • Natural Gas (XNGUSD)
  • Platinum (XPTUSD)
  • Palladium (XPDUSD)
  • US Dollar Index (USD Index)

Already offering 60+ Forex currency pairs, the recent decision to add to its CFD offering in commodities, metals and indices is great news with the upcoming US election. Managing Director Matt Murphie commented “The US dollar will be heavily scrutinised in the weeks either side of the US election and the additional products will provide further trading opportunities.  The US election is always an exciting time as we historically see higher levels of volatility in the market. Traders anticipate what the election results will be and devise a trading strategy around it”.

The Volatility Index (VIX), and USD Index are welcomed additions for those looking to trade based on the impact of the election. FP Markets have also created a dedicated US Elections Page which features news updates, webinars, articles and analysis.

The addition of platinum, palladium and natural gas provide more options for those who like to deal with metals and commodities during times of political uncertainty.

Established in 2005, FP Markets has consistently provided traders with tighter spreads and faster execution. Through the use of Raw pricing they are able to aggregate prices across a range of top-tier liquidity providers. Forex and CFD traders seeking optimal trading conditions should look no further.

Click Here for our full list of Forex and CFD products.

ParagonEX Dynamic Announces Groundbreaking Arabic Trading Tools At Virtual Expo

The company has established trust in the Fintech sector as a reliable software provider that guarantees a positive experience. Each solution offered by ParagonEX Dynamic is carefully developed, ensuring businesses get feature-rich, state-of-the-art tools that drive business growth. Soon, the company will showcase its groundbreaking new Arabic trading tools at the Finance Magnates Virtual Summit 2020.

A Strong Focus On The Arabic Market

There are 420 million Arabic speakers worldwide and Arabic traders are increasingly focused on new technologies. Fintech in particular, has become the focus for significant attention in the UAE and MENA more broadly, with more than $100 million of capital raised to date for

finance-related tech startups. The Arabic market is one familiar to ParagonEX Dynamic who strive to provide tailored trading products for customers in this region. The latest addition is an update to the ForexPro platform.

ParagonEX Dynamic customers are now able to easily experience the Arabic market without additional financial investments. The company translated the trade room and all required widgets for the ForexPro platform using Arabic market professionals. Adding a major market to its vast portfolio in the midst of a difficult year, is a big achievement for the company.

“We are eager to showcase the functionality of our newly added tools.” said CEO Amnon Goldrat. “We are already getting so much positive feedback from our clients in the region and we are keen to take more steps to meet demand.”

An Opportunity to Connect

To showcase its new Arabic trading tools, amongst others, ParagonEX Dynamic will be exhibiting at the Finance Magnates Virtual Summit 2020, scheduled for November 18. Finance Magnates’ annual London Summit has taken a virtual twist this year due to the ongoing pandemic.

During times when in-person contact is limited, businesses need to maximise their online reach. That means using the virtual world to build partnerships, engage with other businesses and learn about the latest developments in the sector. The Finance Magnates Virtual Summit 2020 will offer ParagonEX Dynamic the perfect platform to engage with a global audience, industry leaders and influencers. It will also offer opportunities for the company to showcase its innovative business solutions through public and private chat, video and audio calls, one-on-one meetings, and Q&A sessions.

The event will bring together 3,500+ attendees, 130+ speakers and 150+ exhibitors. Therefore, it is a valuable space to reach out to businesses involved in Retail & Institutional Online Trading, Digital Assets & Blockchain, Payments and FinTech & Innovation.

What ParagonEX Dynamic will Highlight at the Summit

With a commitment to innovation, ParagonEX Dynamic is dedicated to anticipating rapid changes in the finance sector and pre-empting solutions. To demonstrate what sets the company apart, various services and solutions will be exhibited at the summit, such as:

Custom Trading Software Solutions

ParagonEX Dynamic offers white-label trading software that brokers and fintech service providers can customise. This versatile platform is powered by the latest technologies and has been designed to be easy to understand for traders of all levels of experience. Among its outstanding features is Social Trading, which allows traders to learn from experts and even copy trading strategies. The user-friendly Portfolio Manager helps traders implement various portfolio strategies to manage risk and maximise chances of success.

The platform can be further customized with the integration of MetaTrader 5, for brokers who offer multiple trading instruments. The All-in-One CRM provides a satisfying interaction with the brokerage or fintech firm. While partners can effortlessly integrate affiliate networks, with rich features like tracking automation. Most importantly, integrating preferred payment providers is completely hassle-free.

To enhance retention and to lower churn rates, businesses can also offer value-added services through the platform. These services include:

  • Excellent customer care, delivered by domain experts
  • Dedicated technical support and account management
  • Online sessions and virtual instructors to explore the back-office features of the platform
  • Tips and guidelines for businesses wanting to make the most of all the functionalities

In addition, all the raw data is analysed to create custom reports that can be used to improve operational efficiency and grow the business.

Additional Services

ParagonEX Dynamic also offers tailor-made solutions for business, such as:

  • API Integration: The company’s proprietary, cutting-edge widgets can be integrated for immediate implementation on any operating platform.
  • Advanced Operating Tools: Ensure compliance and stay one step ahead of the competition through innovative software solutions.
  • Bespoke Solutions: Choose any combination of features and functionalities to tailor the trading platform to your specific needs.

In addition to these, the company also offers 360° comprehensive solutions, including:

  • Servers Hosting
  • Technical Support (B2B) & Updates
  • Integration with Market Data Feeds
  • Integration with Payment Processing
  • Multi language support- including Arabic

“We value our clients as business partners. We translate advanced technologies into meaningful tools for them to use. We treat their goals and objectives as our own,” explained CEO Amnon Goldrat.

ParagonEX Dynamic aims to enhance each client’s competitive edge by consistently exceeding client expectations. Contact the team at the Finance Magnates Virtual Summit 2020 or via their website below.

For more information, visit ParagonEX Dynamic  or email INFO@PARAGONEX-DYNAMIC.COM

Trade the US Election ‘Game of the Throne’ Volatility

Seychelles, 19 October 2020– For the many people, the US Election has turned into a saga not unlike a presidential ‘Game of Thrones’. To give everyone the best support to trade the volatility caused by the Presidential and Senate elections, global investment gateway, Squared Financial, has launched an innovative deposit bonus campaign.

Ahead of the US election, on the 3rdNovember 2020, SquaredFinancial is giving investors an additional deposit bonus to boost their trading. The exclusively offer is available for new clients who register between the 19thof October and the 6thof November 2020.

SquaredFinancial’s deposit bonus campaign gives traders the specialist tools they need to interpret how different election outcomes could impact global financial markets. Squared’s highly regarded analysis team will provide exclusive election insights, including:

  • Analysis of market-relevant developments
  • Potential trading ideas on key affected markets
  • Risk management techniques to help navigate the election
  • Frequent Exclusive Webinars
  • Daily Market Commentary

Manie Van Rooyen, Chief Executive of SquaredFinancial Seychelles, said: “This campaign forms part of our wider strategy of adopting a client-centric approach. It reflects our ongoing efforts to respond to the needs of traders through innovative technology, insightful educational resources and proactive customer support.”

The SquaredFinancial US Election campaign will allow qualifying traders to get up to a 25% deposit bonus in addition to the exclusive information and insights. The level of deposit bonus will be linked to levels of trading and offers a fantastic opportunity to make the most of the election volatility.

SquaredFinancial has offices in London, Seychelles, Hong Kong, Geneva and Cyprus, allowing it to provide global solutions for a rapidly changing investment market. With a focus on new generation traders and investors who want an easy access, sophisticated, global gateway, providing flexible trading of a full range of financial assets and products.

For more information about SquaredFinancial US Election Campaign please go to:https://campaigns.squaredfinancial.com/game-of-the-throneor follow@sq_financial.

Stimulus Hopes Keep Stocks Afloat

The dollar was little changed against its major peers, gold traded slightly higher and crude oil fluctuated ahead of today’s OPEC+ Joint Ministerial Meeting.

China’s Q3 missed expectations

China’s GDP grew 4.9% in Q3 compared to last year, coming up short of market expectations for 5.2% growth. Despite the miss, China remains the only major economy to post growth for the first nine months of 2020. Other indicators are also pointing towards a broader recovery which could be reflected in GDP for the final quarter of the year, if sustained.

Fixed asset investments turned positive for the year, increasing 0.8% in the first nine months of 2020. Retail sales rose 3.3% year-on-year in September in a clear indication that consumers are confident enough to open their wallets again. Finally, also released today was the industrial output figure which was another bright spot, growing 6.9% in September, the fastest since December 2019. This should make China more appealing to investors as fundamentals are catching up with stock market performance, while most major economies still have a tough road ahead towards full recovery.

Stimulus Hope

Market participants are fed up with US politicians as the deadline for coronavirus relief continues to be pushed further out, with House Speaker Nancy Pelosi setting this Tuesday as the latest line in the sand. A stimulus package is certainly required at the moment with US infections topping 50,000 for a fifth straight day while millions of Americans need aid with rising economic stress. Given recent history, it’s hard to say whether a bill will be approved or not, however the earlier the bill is signed the better it is for households, the economy and equity markets. The slight rise in US Treasury yields and futures are signs of optimism that a deal could be reached before 3 November, but chances of disappointment remain high.

Prepare for a no Brexit deal

The pound moved sharply lower on Friday after British Prime Minister Boris Johnson announced that it’s time to prepare for no trade deal. GBPUSD declined almost 100 pips in a matter of less than a minute after Johnson’s announcement. However, the currency managed to pare the losses throughout the day and closed where it started. Many traders might have been shocked by the Pound’s reaction, especially those who are not used to Johnson’s Brexit statements. Currency markets are simply saying do not believe what he says, as it could be just another tactic he’s using to get some concessions from the EU.

A no Brexit deal means that the Bank of England would take interest rates into negative territory and 10-year yields would drop below zero (they are currently 18 basis points above zero). That’s clearly not priced into Sterling. Markets still believe the base case scenario is a last-minute deal which could send GBPUSD towards 1.35. However, if they are wrong, get ready for a 1,000pip drop.


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.

Oil: Stable, Finally?

Technical

Currently, it is in consolidation around $40.50 trading above 50-while all the Moving Averages are assembled in ascending order. Therefore, from the technical perspective, there is little indication for oil to lose value again.

Fundamental

OPEC+ is meeting today. The Joint Ministerial Monitoring Committee will hold an online reunion to check whether all the OPEC+ country members comply with the output cut policy – that the JMMC’s main objective and function normally. No new decisions are expected before OPEC+ next meeting on December 1, however, there is a certainty that the likelihood of easing the cut in the year is very low. Primarily, that’s because of the second wave of COVID-19 which keeps the demand outlook in a gray area.

In addition to that, Libya is reported to be increasing its output (that was previously reduced to minimum levels due to the military and political unrest in the country). Therefore, expect to see strict guidelines from the side of OPEC+ which will make sure the cuts are there to put firm ground to the price of oil. For us, it means it may be dropping from time to time to $36 as it did two weeks ago, but lower than that – OPEC+ will try to let that happen.

Election

A logical question related to the oil market is how a potential change of the US President will the oil price. Most observers agree that if something will change, that will be stability: with Joe Biden, it is expected to be higher. That is not because of specific points on his agenda related to oil but rather due to the general “change of attitude”: a steady one.

Donald Trump used to move markets – not only oil – with his tweets or comments, sometimes as eccentric as short. Joe Biden seems to be more “emotionally mature” if that may be ascribed to the manner a politician behaves. However, in reality, only time will tell. All we can say for now is that Joe Biden is generally much less “into oil” than Donald Trump – only that may be enough for the oil price to be more secure.

This post is written and submitted by FBS Markets for informational purposes only. In no way shall it be interpreted or construed to create any warranties of any kind, including an offer to buy or sell any currencies or other instruments. 

The views and ideas shared in this article are deemed reliable and based on the most up-to-date and trustworthy sources. However, the company does not take any responsibility for accuracy and completeness of the information, and the views expressed in the article may be subject to change without prior notice. 

SPREADEX OFFERS 0% COMMISSION ON FAANG + TESLA FOR EARNINGS SEASON

This alongside extended opening times from Midday to 1am (UK time) to allow investors to trade these companies spread-free before and after their latest earnings updates.

SpreadEX spokesperson Connor Campbell said: “With one of the most important third quarter earnings seasons in memory thanks to the impact of the pandemic, alongside increased volatility in the run-up to the US election on November 3rd, SpreadEX wanted to put investors in the best position possible to effectively and successfully manage their portfolios.

“By removing spreads on what are essentially the biggest companies in the world, and extending opening times to create a clear runway and landing zone either side of these mega releases, SpreadEX is allowing investors to trade what they want, how they want and when they want.

Combined with our powerful, fully-customisable trading platform – which includes advancing charting, trade via charts and a variety of different ways to receive price alerts – we firmly believe that SpreadEX is the single best place to see out the third quarter earnings season.

Since SpreadEX was founded in 1999 our ethos has been to put investors first, and this is the latest example of us searching to put that principle into action.”

CEX.IO Broker to Launch Digital Asset Margin Trading Services for EU Residents

CEX.IO, one of the largest international cryptocurrency exchanges, announces the launch of CEX.IO Broker, a digital asset margin trading platform, for the residents of the European Union. Earlier, CEX.IO Broker received a market-making CIF license from the EU-based regulator, the Cyprus Securities and Exchange Commission (CySEC).

CEX.IO Broker*, a part of the CEX.IO Group ecosystem, combines security with a clean, straightforward interface where users can harness the power of professional trading tools. With the multi-account trading terminal, advanced exposure management, various leverage levels, and other useful features, CEX.IO Broker provides the flexibility to deploy the margin trading strategies that best fit its customers’ trading style. To add a level of convenience, traders can use a single login to access both derivatives markets on CEX.IO Broker and spot markets on CEX.IO.

Authorised to operate as a Cyprus Investment Firm (CIF), CEX.IO Broker can provide investment and professional trading services – including, but not limited to, transferable securities, derivatives, and foreign exchange – within the European Union under the MiFID II framework.

“Obtaining the CySEC license was a crucial milestone. Launching a service under this license will provide our users with a regulated platform to work with digital asset-based derivatives. CEX.IO Broker also opens the path for forex traders in Europe to a new industry and asset class. By offering a multitude of services, we provide the opportunity for our users to grow in our very own ecosystem,” – Oleksandr Lutskevych, founder and CEO of CEX.IO, stated.

The CySEC granted the CIF license to CEX.IO Broker upon the company’s compliance with all the relevant requirements provided in the Investment Services and Activities and Regulated Markets Law of 2017.

“At CEX.IO Group, we are committed to eliminating the technological barriers that prevent users from engaging in different cryptocurrency-related activities. The purpose of our products is to act as a bridge into the open financial system. With our CySEC license, we provide regulated services on the newly launched CEX.IO Broker platform, allowing traders to work with digital asset derivatives in a safe and transparent environment,” Oleksandr explained.

Founded in 2013, CEX.IO is a prominent service provider in the cryptocurrency industry that has been mostly known for the company’s pioneer digital asset exchange platform.

Over the years, the group has been working hard to expand its ecosystem with new crypto solutions, including the B2B fiat to crypto on/off-ramp solution CEX Direct, the technical solution for liquidity aggregation, CEX.IO Aggregator, as well as the identity verification and compliance platform, Identance. Recently, CEX.IO started offering cryptocurrency-backed loans, CEX.IO Loan, and staking services, CEX.IO Staking.

“We are delighted to expand our ecosystem with the regulated services of the CEX.IO Broker platform. Right now, the market is undergoing a period of rapid growth in cryptocurrency derivatives. Our objective is to offer an elegant solution, where users understand the instruments, manage the risks, and put assets to work to achieve their goals,” Oleksandr added.

*CEX.IO Broker is a trade name of CEX Markets Ltd. CEX Markets Ltd. is authorised and regulated by the Cyprus Securities and Exchange Commission (licence no. 381/19).

Candlestick Trading Strategies – Webinar Oct 22

Designed for both new and intermediate traders alike, this presentation will teach attendees about the most popular candlestick reversal patterns and reveal the trading psychology behind each one. Guests will discover the Tweezers, Harami and Piercing patterns, among others. Ali will also provide participants with practical, step-by-step demonstrations in order to help traders improve their overall trading confidence. 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.

REGISTER FOR FREE

  • Log in or register
  • Click ‘Join Now’ on your chosen Webinar
  • Check your inbox for the webinar link

FXTM Trading Educator Ali Mortazavi has an academic background in Economics, with over five years of experience in the financial markets. Ali previously gained invaluable career experience as a stock market analyst and macroeconomic analyst. Since joining FXTM, he has continued to pursue his passion for analysis and trading education.

Lukman’s Week Ahead: Market Themes to Watch Out For – Webinar Oct 26

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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  • Click ‘Join Now’ on your chosen Webinar
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FXTM Senior Research Analyst Lukman Otunuga holds a BSc degree in Economics from the University of Essex and an MSc in Finance from London School of Business and Finance. A keen follower of macroeconomic events with a strong professional background in finance, Lukman is well versed in the markets. Read his full profile here.

FXTM Invest Applied – Webinar Oct 28

This presentation is designed for those keen to learn more about our innovative copy trading programme FXTM Invest and how it can contribute to their long-term portfolio. Participants will receive a detailed overview of the programme itself, as well as simple risk management scenarios and possible outcomes. Finally, attendees will also have the chance to learn more about FXTM’s excellent array of educational resources. Don’t miss out on the chance to learn from one of our FX 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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  • Check your inbox for the webinar link

FXTM Trading 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. With a decade of solid trading experience to his name, Theunis now enjoys sharing his knowledge with others.

US Banks Get No Love

Net income for these five firms came in at US$23.2 billion in Q3, which is more than triple the figures reported for Q2. This profit recovery appears to be happening at a faster clip compared to the two years it took for major lenders to stage an earnings recovery during the Global Financial Crisis.

Yet, markets don’t seem to care.

The S&P 500 has shed 1.29 percent over the past two days, with the financials sector being the worst performing sector on the US benchmark index for the period. The S&P 500 Financials index has fallen 2.91 percent over Tuesday and Wednesday combined. On a year-to-date basis, financial stocks are still lower by 19.52 percent, beating only energy stocks which are almost nearly 50 percent lower compared to where they were at the start of 2020. This despite the S&P 500 itself being up nearly eight percent so far this year. At the time of writing, the S&P 500 Minis point to further losses at the Thursday open, although the FXTM Trader’s Sentiments remain net long on this instrument.

The price movements of banking stocks do not correlate with what’s being reported out of Wall Street Banks, which once again demonstrates the notion that fundamentals hold very little sway in today’s markets. Despite these major financial institutions proving their ability to generate earnings even amid a pandemic and a recession, investors are hardly flocking to financial stocks at the moment. Even after Goldman Sachs reported a record earnings per share of US$9.68, which was nearly double of what markets had predicted, yet the bank’s stock only managed a meagre 0.2 percent increase on Wednesday.

Perhaps investors are wary that the US$50 billion in loan loss provisions will eventually have to all be used up in the not-so-distant future. Already major corporations have announced more layoffs are set to happen in the remainder of the year, which could drive up the number of loan defaults.

The US weekly jobless claims data due later today would offer another signal over the state of the jobs market. Markets are expecting 825,000 initial jobless claims in the past week, with about 10.5 million Americans still receiving unemployment benefits. Should the unemployment rate start to tick up from September’s 7.9 percent in the absence of more US fiscal support, that could weigh negatively on US banking stocks, which are seen as a proxy to the overall health of the US economy.

Next up is Morgan Stanley, which is due to announce its Q3 results before US markets open on Thursday. Perhaps even a positive earnings surprise may not have a desired impact on Morgan Stanley’s shares, given how markets have scarcely reacted to the positive results from Morgan Stanley’s larger peers in recent days. Morgan Stanley remains some 12 percent lower compared to its 2020 high.

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.

HYCM Launches Financial Blog, HYCM Lab

Limassol, 14th October 2020

HYCM Lab is a blog site run by the HYCM team alongside the Group Chief Currency Analyst, Giles Coghlan. Giles has played a key role by providing his expertise and insight to HYCM and their investors, sharing over a decade of trading experience. He has also contributed to and featured in top-tier financial media including FTAdviser, City A.M., CNBC, The Guardian, MarketWatch, Business Insider, Yahoo Finance, Nasdaq, Forbes Middle East, and CNBC Arabia.

Commenting on the launch, Stavros Lambouris, CEO at HYCM International, highlighted:

“HYCM believes it is their responsibility as a financial broker to provide their clients with a nurturing environment where they can safely learn and grow, and gain the knowledge needed to participate in the markets. After 4 decades of group experience, we have become experts in the field, putting us in a position to be able to share our valuable insights with our clients.

With the new blog, we aim to keep traders in the loop on the key events in the financial markets and provide daily information on the largest moves in the currency, equity, and commodity markets. Going forward we plan to continue equipping our clients with the tools needed to make the most informed trading decisions.”

The blog is rich with educational content which covers the market basics and provides helpful trading tips. It is updated daily with fundamental analyses that focus on the impact of geopolitical and economic news, outlooks for specific instruments, market movers, and technical charts. It also provides central bank statements and overviews, opinion articles on important market trends, and outlines the key financial events of the previous and coming weeks. Visitors to HYCM Lab can also find various video content including daily market mood videos that cover the latest moves in about 1 min, and market insight videos in which Giles Coghlan presents case studies, trading techniques, and in-depth analysis.

HYCM is dedicated to equipping clients with the resources and practice needed to become a confident and responsible trader. The new blog is just one in their arsenal. HYCM also runs weekly webinars, practical workshops and intensive forex trading offline courses that help aspiring traders take their trading skills to the next level.

Visit HYCM Lab


About HYCM

HYCM is the global brand name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, Henyep Capital Markets (DIFC) Ltd and HYCM Ltd, all individual entities under Henyep Capital Markets Group, a global corporation founded in 1977, operating in Asia, Europe, and the Middle East.


High Risk Investment Warning: Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high degree of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent expert advice if necessary and speculate only with funds that you can afford to lose. Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resources. We do not recommend clients posting their entire account balance to meet margin requirements. Clients can minimise their level of exposure by requesting a change in leverage limit. For more information please refer to HYCM’s Risk Disclosure.

Mid-Week Technical Outlook: Are Dollar Bulls Back in Town?

Dollar bulls were injected with a fresh dosage of inspiration yesterday after the IMF warned that COVID-19 would cause “lasting damage” to the global economy. Appetite towards the Greenback was sweetened further by dimming hopes for more fiscal stimulus before the U.S election after House Speaker Nancy Pelosi a $1.8 trillion relief proposal from the White House. With rising coronavirus cases across the globe draining investor confidence and fostering a sense of unease, king Dollar could make a return in Q4.

What are the technicals saying?

Well, the Dollar Index (DXY) is under pressure on the monthly timeframe. It is still nursing deep wounds inflicted during Q3 as vaccine optimism and stimulus hopes turbocharged risk sentiment. There is something about the 94.00 resistance which has acted a dynamic level over the past few years. A solid monthly close above this point could open a path back towards 97.50 in the medium term. Alternatively, if 94.00 proves to be reliable resistance, then prices may slip back towards 92.00.

Weekly timeframe paints similar picture

Prices remain in a downtrend on the weekly charts as there have been consistently lower lows and lower highs. Prices are trading below the 20 Simple Moving Average while the MACD trades to the downside. If Dollar bulls are unable to break above the 94.80 lower high, the next key point of interest may be found around 92.00. Although technicals are in favour of bears, the fundamentals could throw the Dollar a much-needed lifeline.

A quick peek into the fundamentals

Speaking of fundamentals, US inflation rose in September at the slowest pace in four months, signalling little threat of rising inflation as the US economy heals. Consumer prices 0.2% from the prior month after 0.4% gain in August. So much for the Feds policy shift to let inflation rip higher….

Investors will direct their attention towards the latest unemployment claims data on Thursday and retail sales report on Friday. After increasing by a tepid 0.6% month-over-month in August, retail sales are forecast to rise by 0.7% in September.

Back to the technicals

It’s all about the 94.00 resistance level on the daily charts. Bulls need to secure a solid daily close above this point to encourage a move towards 94.65 and 96.00. Prices are trading below the 20 and 50 SMA but the MACD trades to the upside. If the risk-off mood drags on amid fading stimulus hopes, election jitters and rising coronavirus cases, king Dollar may defy technicals by exploding higher.

Commodity spotlight – Gold

Just can’t help but feel that it has been the same old story with Gold.

Prices remain rangebound despite the stimulus developments and rising coronavirus cases across the globe. If the Dollar continues to weaken on dimming stimulus hopes, this could drag Gold prices lower despite the risk-off mood. Looking at the technical picture, the metal is down almost 2% this week with a breakout/down setup in play. If $1890 proves to be unreliable support, prices could decline back towards $1858 and $1845. Alternatively, an intraday breakout above $1935 could open the doors towards $1965.

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.

The Moving Average Spring Strategy Applied – Webinar Oct 14

Designed for both new and intermediate traders alike, this presentation will teach attendees how to use this popular strategy on MetaTrader 4 using a variety of time frames on both live and historical live charts. Theunis will also demonstrate how to define good entries and exits, and talk guests through the dangers of over-analysing. 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.

REGISTER FOR FREE

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  • Check your inbox for the webinar link

FXTM Trading 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. With a decade of solid trading experience to his name, Theunis now enjoys sharing his knowledge with others.

SquaredFinancial Continues Expansion of Product List

Soft-commodities introduced for all traders

Wheat, Soybeans and Corn are now available on the SquaredFinancial platforms. These are leading soft commodities which offer liquid and dynamic tradable assets and provide uncorrelated investment opportunities.

Husam Al Kurdi, Chief Executive Office at SquaredFinancial, commented: “When we re-launched SquaredFinancial I promised our clients we would continue to develop the products and to give them an expanded range of high-quality investment opportunities. We are keeping this promise with the launch of soft commodities trading in conjunction with our other instruments. For all new products, our development team looks in detail at the trading and the risk profiles so that we always give investors a reliable and transparent asset. Used in conjunction with FX, energy or precious metals it allows risk to be managed and hopefully, returns maximised.”

Unlike many other commodities, soft commodities normally have a wider production base, not dominated by one or two countries who look to control supplies. This means there is often greater consistency in pricing, with markets influenced by weather and geopolitical events rather than economic and financial performance.

“Over the last six months, we have seen a steady increase in the number of people using our services to manage their investments. By trading a range of assets, they can spread market exposure and use their knowledge of different asset classes to achieve their investment goals. We offer the training and support to help our clients take financial decisions and take advantage of the ongoing global volatility.” added Mr Al Kurdi.

SquaredFinancial has offices in London, Cyprus, Seychelles, Hong Kong, and Geneva, allowing it to provide global solutions for a rapidly changing investment market. With a focus on new generation traders and investors who want an easy access, sophisticated, global gateway, providing flexible trading of a full range of financial assets and products.

For more information about SquaredFinancial please go to: www.squaredfinancial.com or follow @sq_financial.

About SquaredFinancial

SquaredFinancial provides a full range of investment services supporting institutional traders, private banks, and family offices through to individual investors, offering a global gateway to a full range of products and services. It has offices in London, Cyprus, Seychelles and Hong Kong and SquaredFinancial (CY) Limited is regulated by CySEC under license No.329/17.

JPMorgan Stock Set for Big Earnings-Day Move

Already, the options markets are pointing to a one-day move of 3.14 percent, either way, following their Q3 earnings release. If such a price swing were to transpire, that would be larger than the average 1.9 percent absolute move for the past eight reports!

JPMorgan’s performance will also be closely scrutinised because it may give investors an idea about where the world’s largest economy is headed. As the US economic recovery shows signs of plateauing, so too have the share prices of its biggest lender, with JPMorgan stocks largely sticking to a sideways range so far in the second half of this year.

Saving for a rainy day?

During JPMorgan’s announcement, investors will be eyeing tell-tale signs surrounding its credit quality.

Recall that, in Q2, JPMorgan had already set aside US$10.5 billion for loan loss provisions, which is how much money the bank is setting aside in anticipation of customers not being able to service their loans in the future.

Q3 was a time when stimulus checks made their way into American households, as the broader economy enjoyed unprecedented amounts of monetary and fiscal stimulus. The US unemployment rate saw a significant decline during the past three months, coming in at 7.9 percent in September, which is significantly lower than the 14.7 percent registered in April.

Still, last month’s unemployment rate is still roughly double compared to pre-pandemic levels. Weekly jobless claims, both initial and continuous, remain stubbornly high at around 800,000 and 11 million respectively. Such figures underscore the sheer need for more financial support for American households and businesses.

Yet, considering the dire economic outlook, the fiscal taps have dried up, with the next round of fiscal stimulus left in limbo by political brinksmanship between the White House and Democrats.

With all that considered, should JPMorgan see it fit to add more loan loss provisions, that could signal that they’re bracing for more defaults in the future, which could then send a risk-off signal to broader markets.

Earnings recovery to begin in Q3?

Overall, market participants would want to know whether the major US banks that will be announcing their results this week can set the tone for the expected earnings recovery over the coming quarters.

Recall that in Q2, S&P 500 companies saw an earnings drop of over 30 percent. It was ugly, from a fundamental perspective, yet traders pushed the benchmark stock index upwards with apparently nary a care in the world.

Q3 estimates call for a 21.7 percent drop in earnings, followed by a 13.7 percent decline in Q4, which could then put Wall Street back on the path to earnings growth in 2021. However, should the Q3 earnings disappoint, that could set back such projections, prompting fundamentally-driven investors into giving S&P 500 companies a longer runway to stage their earnings comeback.

Of course, JPMorgan’s economic outlook and forward guidance could well set the tone for equity markets during this earnings season. However, it remains to be seen how much market participants will sway to the reporting season’s tune, or would they keep faith that the next round of US fiscal stimulus is imminent while blissfully ignoring any warning signs out of Wall Street.

Written on 10/13/20 04:00 GMT by Han Tan, Market Analyst at FXTM


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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.

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Spotware Partners with Broctagon to Offer cTrader White Labels

For Broctagon Fintech Group, offering cTrader solutions in combination with their liquidity products means brokers can easily set up an accelerated cTrader White Label, fully-equipped with market-ready offerings.

Built upon ten years of experience in the traditional markets, Broctagon is based on unwavering dedication in delivering multi-asset liquidity for FX, cryptocurrencies, indices and commodities, as well as superior trading technology. With a global presence in 7 countries across Europe and Asia, Broctagon offers innovative turnkey and premier trading solutions for hundreds of brokerages globally.

“We are proud to declare Broctagon a specialist cTrader White Label provider”, says Alexander Geralis – Head of Business Development at Spotware, “We believe that their growth mindset and global reach will serve to make cTrader White Labels even more widely available to brokerage businesses out there, while cTrader, in turn, will serve to expand Broctagon’s international client base”.

Indeed, until recently, Forex markets have mainly been saturated by limited choices in trading technology. The partnership between cTrader and Broctagon takes the offering one stop further, allowing for the introduction of more sophisticated trading tools to the mass markets internationally. Brokerages can now leverage cTrader’s rich integrations seamlessly and with zero hassle by adopting Broctagon’s White Label solutions setup.

“We are constantly striving to serve the financial markets better,” says Don Guo, CEO of Broctagon Fintech Group. “With our stronghold in Asia, partnering with Spotware will allow us to be one of the only technology providers to offer the unique cTrader STP trading platform in the region and elevate the trading environment in the Asian markets with its mature ecosystem.”

To find out more about cTrader White Labels, reach out to Spotware:

https://spotware.com/contact-us/

About Spotware

Spotware is an award-winning financial technology provider specializing in complete business solutions and complex custom development projects that add value to their clients. It is best known for its flagship product, cTrader, a premium FX and CFDs trading platform offered by leading brokers and trusted by millions of traders worldwide. It has also developed cXchange, an out-of-the-box digital asset exchange solution that allows any business to launch a cryptocurrency exchange. Spotware has been raising the standards of the online trading industry since 2010 providing constant innovation ever since. Founded on the values of transparency and Traders First™ approach, the company develops products that are responsive to the changing demands of the business and regulatory landscape, and serve the long-term interests of all market participants. 

For more information please visit www.spotware.com

About Broctagon Fintech Group

Broctagon Fintech Group is a multi-asset liquidity and technology provider headquartered in Singapore with over 10 years of established global presence in China, India, Russia, Cyprus, Hong Kong, Thailand and Vietnam. With our decade of serving satisfied clients in 50 countries, Broctagon is well-equipped to elevate companies through performance-driven and flexible turnkey solutions such as our liquidity aggregator technology, brokerage technology solutions, and enterprise blockchain development.

For more information please visit www.broctagon.com

UK-EU Play Chicken as Brexit Deadline Looms

The UK has been trying since March to seal a post-Brexit trade deal with the EU, with little progress to show for it. Over the weekend, PM Johnson reached out to German Chancellor Angela Merkel, and French President Emmanuel Macron, to try and break the deadlock, just days before EU leaders are due to gather for a two-day summit beginning October 15th, where Brexit would surely rank high on the agenda. French government officials are already pushing back, saying they are willing to take a hard Brexit over a bad deal.

When PM Johnson announced his latest deadline back on September 7th, the Pound went on to weaken by some four percent against the Euro, before paring its losses. EURGBP is now testing its 50-day simple moving average (MA) as a key support level.

GBPUSD on the other hand its testing its 50-day MA as a key resistance level, having weakened by as much as 4.5 percent since the looming deadline was unveiled, only for the currency pair to climb some 2.9 percent since its September-bottom.

Although markets are pricing in an uptick in volatility in both EURGBP and GBPUSD over the week, the price swings are expected to be relatively tame compared to extremes over recent years, judging by the 1-week implied volatility for both currency pairs. The keen and seasoned observer would note that delayed deadlines have become somewhat of a norm amid the Brexit saga, and previous displays of brinkmanship have yet to see either side walk away from talks, despite multiple threats of doing so.

Still, that isn’t a line that Sterling can necessarily afford to cross.

Should the UK indeed leave the EU without a trade deal in place by December 31, the repercussions on the Pound would be seismic, potentially sending EURGBP much closer to parity! Still, the FXTM Trader’s Sentiments are overwhelmingly short for EURGBP.

As for GBPUSD, with traders having grown accustomed to Brexit-related blusters, perhaps the November 3 US Presidential elections would have more of an impact on cable. The FXTM Trader’s Sentiments are currently net long on cable.

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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 Oct 12

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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FXTM Senior Research Analyst Lukman Otunuga holds a BSc degree in Economics from the University of Essex and an MSc in Finance from London School of Business and Finance. A keen follower of macroeconomic events with a strong professional background in finance, Lukman is well versed in the markets. Read his full profile here.

Stimulus or no stimulus?

This isn’t surprising given the news developments over the past few days, from President Trump’s Covid diagnosis to him returning to the Oval office, and then his tweet announcing an end to stimulus talks followed the next day by new tweets urging Congress to pass a targeted piecemeal package.

That is a lot for investors and traders to digest with less than four weeks to election day, and even before that we have the earnings season which is kicking off next week.

Despite all the noise, it is becoming more evident that fiscal stimulus remains the top priority for markets. Few doubt that a new package is coming but the timing is the most critical aspect. The longer it takes, the more businesses will shut down and more jobs be laid off. At the moment, investors remain overly optimistic that the House will approve a targeted stimulus package, but there is a high chance of disappointment given past experience. Expect volatility to remain elevated until November 3 and maybe well beyond if Biden wins the election and Trump refuses to concede, which is another underestimated risk.

The FOMC minutes released on Wednesday acknowledged that interest rates will remain near zero for years to come, but the US bond market reacted with disappointment pushing 10-year yields towards 0.8%. That’s simply because the Fed failed to offer new specific details that investors were craving for, especially on metrics that will determine the next rate move. There also wasn’t more guidance on the asset purchase program, which markets were hoping the Fed will increase given the current state of the economy. Overall, the minutes seemed tilted to the hawkish side given the information we already know. This should explain why the Dollar selloff was limited despite the sharp rally in equities.

In commodity markets, Oil edged slightly higher as Hurricane Delta is set to make landfall on the Gulf Coast by Friday. More than 180 offshore facilities have been evacuated which is likely to halt 1.5 million barrels of output. However, it’s the demand side of the equation that is likely to have more weight over the medium-term and that’s likely to keep any gains in check.

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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.