Psychology of Trading: Common Mistakes of Traders – Webinar Sep 10

Learn how to recognize the mistakes that keep you from being the trader you want to be. Join this webinar as HotForex’s Market Analyst, Aldo, explains the most common mistakes of novice traders and some methods to overcome them. Don’t miss out on this chance to improve your trading with expert help!

REGISTER FOR FREE  Thursday, 10 September, 12 PM GMT

Key points of interest:

  • Most common mistakes of traders
  • The psychology behind these mistakes
  • How to overcome them

Language of instruction: Spanish

Stock Analysis and Research – Webinar Sep 10

This insightful presentation will focus on FXTM’s Stocks account and Stock CFDs account. Participants will discover the features and specifications of both accounts, and learn more about the difference between stock trading and stock CFD trading. Theunis will also provide a comprehensive overview of how to research and analyse stocks, as well as practical risk-management 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 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.

Are Stocks Heading for a Further Correction?

There was no specific trigger to the selloff but after extreme bullishness driven by monetary and fiscal policies, stock prices reached levels that could no longer be justified by fundamentals.

There is no doubt that the investment environment has drastically changed compared to a few years ago. Given the new approach of the Federal Reserve towards ’average inflation targeting’, investors are not concerned about tightening monetary policy, at least for the next couple of years. Theoretically, this means businesses will enjoy cheap debt financing in order to expand, leading to higher potential future earnings.

It’s true that valuing a company at a lower required rate of return provides a higher intrinsic value for the stock price, but what we have seen over the past several weeks was more euphoric and about momentum buying rather than rational investment. Fears of missing out on the rally also led many investors to jump into the market without doing proper analysis. While we still cannot compare the current environment to that of 1999-2000, investors need to be concerned about the price they pay to acquire stocks.

The steep correction seen on Thursday and Friday is healthy and much needed after the five-month rally, but it requires a more extended pullback to encourage long term investors to build positions. We probably need another 10 – 15% drop to end this euphoria and this will only happen if investors put more focus on current fundamentals that have been ignored for several months. Let us not forget that we have not yet found a cure for the virus and corporate bankruptcies will be on the rise as we approach year-end. Liquidity and low interest rates alone cannot be the solution to everything, so it’s essential to see continued improvement in economic data and an end to the pandemic for sustainable upside in risk assets.

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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.

New-Look Hang Seng Gains as Global Selloff Takes a Breather

The stock benchmark managed to overcome early losses to climb higher as the new trading week got underway, with all three debutants also attempting to start off on the right foot. At the time of writing, Xiaomi shares are edging higher, while Alibaba and WuXi Biologics are in the red.

Still, the inclusion into the city’s benchmark index had been a boon for the three new entrants since the announcement was made on August 14th. Over the past three weeks, Alibaba’s shares in Hong Kong had climbed by over 12 percent, Wuxi Biologics advanced more than 16 percent, while Xiaomi surged nearly 60 percent!

Asian stock markets are mostly in the green on Monday, as it tries to bring a halt to the selloff in global stocks. The MSCI’s flagship global equity index fell 2.28 percent last week, its largest since the week ending June 12th, which brought an end to a run of five consecutive weekly gains.

Investors’ nerves have been left understandably raw after last week’s selloff, led by US tech stocks. US futures are now mixed, with the slight gains in the Dow Jones futures offset by the declines in their Nasdaq 100 counterparts. European futures however are moving decisively into the green at the time of writing.

The rest of the world will have to tow their own line today, with US markets closed for Labour Day. Perhaps US market participants could use the longer weekend to mull decisively whether to extend the slide in US equities or bring a halt to the latest selloff.

Investors will also be eyeing key event risks, such as the fate of the next round of US fiscal stimulus measures, in perhaps deciding how US equities should fare over the near-term. A longer delay to another injection of support for the US economy however could mean further losses in US tech counters, with the Nasdaq 100 having already flirted with a 10 percent correction last week. The resumption of Brexit talks, as well as the ECB policy decision later this week, all add to the potential event risks over the coming days.

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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.

Technical Outlook, Gold Wobbles as Dollar Fights Back

The precious metal has lost almost 2% since the start of the September and could extend losses in the short term if the Dollar fights for its thrown and “risk-on” remains the name of the game. However, when looking at the key themes influencing Gold, the medium to longer-term outlook points north despite the possible weakness in the near term.

Buying sentiment towards Gold could be dented by a sense of confidence over the world economy recovering quicker than expected, while renewed US-China trade hopes and optimism around a coronavirus vaccine may boost attraction towards riskier assets at the expense of safe-havens.

However, rising coronavirus cases in the United States, political uncertainty ahead of November’s presidential elections and Brexit drama among other negative themes may drain investor confidence, ultimately accelerating the flight to safety.

On top of this, low-to-negative government bond yields, unprecedented monetary stimulus and handsome fiscal packages should continue sweetening appetite for the precious metal for the rest of 2020. Although economic data from major economies have beat estimates, the overall shaky macroeconomic and geopolitical landscape may ensure the Gold remains a hotspot of safety.

Where prices conclude this week could be heavily influenced by the pending US jobs report on Friday. Markets are forecasting Non-farm payrolls rise 1.4 million in August, down from 1.763 million in July and the smallest gain since the recovery began in May. A figure above market estimates could drag Gold prices lower as the Dollar builds on gains.

Looking at the technical picture, prices remain in a wide range on the daily timeframe with support at $1910 and resistance around $1985. It looks like the precious metal is under pressure with $1910 acting as the first level of interest. A breakdown below this point could encourage a decline towards $1890. Should $1910 prove to be reliable support, prices could rebound back towards $1950, before potentially testing $1985.

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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.

Gulf Brokers Has Launched Its NewestTrading App

The application provides an instant access to real markets to trade shares, forex, commodities, and indices from mobile appliances. The Gulf Brokers trading app is now available free of charge on both Google Play and App Store.

According to the Gulf Brokers data, more than 75 % of its users are primarily using their smartphones for trading. In-depth research of trading behavior enabled Gulf Brokers to design a state of the art intuitive application that furnishes Gulf Brokers’ clients with an exceptional trading experience, suitable for both newcomers and experienced traders. It takes just a few taps to open a live trading account, which provides an instant access to seamless trading experience.

GULF BROKERS LTD. is a licensed and regulated broker and has trading experience in 23 countries worldwide. GULF BROKERS is located in a stable and secured marketplace. GULF BROKERS is a multiple award winning broker and 4-5 stars rated on highly-ranked independent reviews media such as FX Empire, Trader Magazine or ForexMag.

For more information see: http://www.gulfbrokers.com


Risk Warning: Trading in leverage products carries a high level of risk and may not be suitable for all investors. Past performance of an investment is no guide to its performance in the future. Investments, or income from them, can go down as well as up. You may not necessarily get back the amount you invested. All opinions, news, analysis, prices or other information contained in our communication and on our website, are provided as general market commentary and do not constitute investment advice, nor a solicitation or recommendation to buy or sell any financial instruments or other financial products or services.

Monthly Outlook September – Webinar Sep 07

This interactive presentation reveals potential trading opportunities in the month ahead, and reveals what could be in store for Gold, the Dollar Index, the Pound 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.

AUD Drops as Australia’s Recession Confirmed

It posted a seven percent quarter-on-quarter contraction in Q2, its steepest-ever plunge, and was one percentage point worse than what markets had expected. This latest GDP reading follows the minus 0.3 percent q/q print in Q1. Two consecutive quarters of quarter-on-quarter GDP declines meet the criteria for a technical recession.

In the hours leading up to the GDP release, AUDUSD had been paring back its recent gains and fell by as much as one percent from its latest two-year high, with the 0.741 mark last seen in August 2018.

The Aussie has taken a pause so far in September, after posting five straight months of gains versus the Greenback. The breather is allowing its 14-day relative strength index to moderate from the 70 mark, which denotes overbought levels, before potentially resuming its quest to claim the 0.75 handle. However, a break below 0.73 could call upon the 0.71 mark to intervene with stronger support, although such a scenario appears less likely, barring a sudden burst of USD strength.

Keep in mind that the currency pair had strengthened nearly 20 percent since March 31, making the Australian Dollar the best-performing G10 currency since Q1. Perhaps of more significance for Aussie traders, back in June, AUDUSD was able to break out of its long-term downward trend since 2018.

The fundamental picture appears to justify the gains over recent months. Given that the Aussie is seen as a liquid proxy to the Chinese economy, the post-pandemic recovery in the world’s second largest economy has fuelled gains in the AUD. The currency has also enjoyed tailwinds from the recovery in commodity prices since Q2, along with attempts to restart the Australian economy. Such a context has made for a condusive environment for the AUD to take advantage of the weaker US Dollar. The greenshoots in Australia’s economic recovery had also been enough to allow the Reserve Bank of Australia to adopt a less dovish earlier than some of its G10 counterparts, while keeping the cash rate target at the record low of 0.25 percent.

Still, at the September RBA meeting just yesterday (Tuesday), policymakers decided to boost a key feature of its support programme in order to offset the downside risks to the Australian economy. The resurgence of cases in the Victoria has curtailed Australia’s recovery prospects, although restrictions to economic activity in Australia’s second largest state are expected to be eased in the middle of this month. Once Australia’s post-pandemic journey resumes, that may pave the way for more Aussie strength, barring any intervention by the RBA.

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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.

Renowned Market Analyst Jameel Ahmad Joins NAGA as Director of Investment Strategy

Renowned for his wealth of expertise in the financial markets, Mr. Ahmad will be responsible for building and strengthening NAGA’s presence in regions such as Europe, Asia, Africa, and the Middle East, within which he has extensive experience in the set up and dynamizing of financial brands.

Mr. Ahmad specialises in fundamental market analysis at micro- and macroeconomic levels, with a particular emphasis on global markets, currencies, commodities and emerging markets. He is also a sought-after broadcast commentator and active contributor on Al-Jazeera, BBC, Bloomberg, CGTN (formerly known as “CCTV”), CNBC, France 24, Sky News, and TRT World. He has also written exclusive columns for top-tier media outlets, including The Wall Street Journal, Forbes Middle East, Khaleej Times, CNBC Africa, Arabian Business, China Daily,The Global Times, Reuters, and Forbes.

Commenting on his upcoming appointment with NAGA, Mr. Ahmad said: “I am delighted to be taking on the Director of Investment Strategy role at such an exciting time in NAGA’s development. I am equally excited to be joining a German-founded and publicly listed company with such an impressive financial product range, and supported by a solid investment in technology. NAGA is not a typical brokerage, nor is it another imitator grappling to make its mark in an already oversaturated marketplace. This is a fintech company, with powerful proof of concept and I am thoroughly looking forward to raising the international profile of the NAGA brand.”

Mr. Ahmad’s strategic appointment will have him collaborating closely with NAGA teams across the board, providing not only fundamental insights into financial markets but also strategic insights into the financial industry, with the aim of providing invaluable perspectives that will strengthen and shape NAGA’s value propositions as the company pushes forward to penetrate global markets and expand into new offerings such as mobile banking and personal finance.

Welcoming Mr. Ahmad to the team, Benjamin Bilski, NAGA Founder & CEO, commented: “2020 marks a strategic phase of accelerated growth for NAGA. We have at our hands a powerful financial ecosystem and a financial super app; we are geared up to propel our brand forward and to continue to expand our footprint worldwide. We understand the need for strategic communications for NAGA’s strong ensuing development and this is why we have secured the market and industry expertise of Jameel Ahmad, as we believe it will be an integral key for our ever-growing ambitions. Considering his expertise in the financial markets and his long-standing acclaim in the industry, Mr. Ahmad will be an asset to our team and I personally look forward to working with him and seeing the new heights we will achieve for NAGA together.”


About NAGA

NAGA is an innovative fintech company that has developed a socially-enhanced financial system that creates a unified and seamless experience across personal finance and investing. Its proprietary platform offers a range of products ranging from trading, investing, and cryptocurrencies to a physical Mastercard and social investing features such as a Feed, a Messenger and Autocopy. NAGA is a synergistic all-in-one solution that’s accessible and inclusive, and that provides a better way to trade, invest, connect, earn, acquire and pay, across both fiat and crypto.

easyMarkets Becomes Real Madrid’s Official Online Trading Partner

The company has announced that it will be the Club’s Official Online Trading Partner for the next three years, starting from the beginning of the 2020/21 season. This has the potential to add incredible value to the easyMarkets branding efforts and bring an unprecedented level of recognition to the well-established financial service provider.

Mr. Ohad Golan, Chief Marketing Officer, commented on the sponsorship,

“easyMarkets was looking to partner with a great club that has instant recognizability, a rich history and a loyal, dedicated fan base.
We sought to sign with a great club that has global appeal, with millions of eyes on it each match – and Real Madrid was the obvious choice.
We look forward to leveraging Real Madrid’s immense popularity and global appeal strategically as we move forward.”

Emilio Butragueño, Institutional Relations Director at Real Madrid commented,

“Both, Real Madrid and easyMarkets, are leaders in their sector and share common values. We are happy to welcome them as Official Online Trading Partner beginning with the 20/21 season“.

The Moving Average Spring Strategy Applied – Webinar Sep 03

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.

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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.

Number of Accounts Opened in NоrdFX Exceed 1.500.000

NоrdFX’s leading positions are indicated not only by broker ratings published by specialized resources. The company is regularly included in the TOP-10 of many reputable analytical publications that assess the quality of financial services provided. It should be especially noted that among more than 50 of its professional awards there are victories, which directly testify to the trust of the trading community.

Among them:

  • Most Reliable Broker 2016, 2017 (The Forex Awards and ShowFX World),
  • Most Trusted Cryptocurrency Broker 2018 (Global Brands Awards),
  • Traders’ Choice World Best Broker (Masterforex-V Academy).

One cannot but recall the multiple victories in various nominations of the IAFT Awards – an award founded by the International Union of Forex Traders, which is more than 200,000 traders from various countries. So, in 2012, NоrdFX won the Best Broker for Trading with Advisors nomination, in 2017 it won the IAFT Awards as The Best Broker to Work with Cryptocurrencies, and in 2015, 2018 and 2019 it was recognized as the Best Broker in Asia.

Evaluating the work of NordFX, the company’s clients note its reliability, excellent trading conditions for both beginners and experienced traders, a wide selection of financial instruments, high quality dealing, but most importantly, trust-based business relationships that exist between employees and partners of NordFX and its clients.

Investors Continue to Build on Best August in 36 Years

The S&P has gained 7.24% so far this month, the Dow Jones Industrial Average is up 8.42% and back to positive territory for the year; meanwhile, the Tech-heavy Nasdaq 100 continues to outperform with 10% gains.

The August run reflects an accommodative Federal Reserve, a weaker US dollar, better than anticipated economic data, moderating Covid-19 cases in the heavily US-hit Sun Belt region and positive news towards a vaccine. These factors continue to provide investors with the green light to go risk on.

Few may disagree that we have reached overbought levels on US stocks. RSI’s on the three major indices are all trading above 70 and any valuation metric you look at provides the same signal. However, there needs to be a catalyst for a correction and that’s why upcoming US data and events will be of great importance.

The monthly US jobs data, due to be released on Friday, will indicate whether employers continued to hire following the easing of lockdowns that began in May. Economists are anticipating that 1.55 million jobs were added in August, a slight drop from July’s 1.76 million, but still a healthy figure given we are in the middle of a pandemic. However, initial jobless claims which rose by more than 1 million over each of the past two weeks are slightly worrying, especially if the government does not act soon to introduce a second stimulus package that reaches most unemployed Americans.

Tensions between the US and China may rise again after TikTok app owner, ByteDance is now required to seek Chinese government approval to sell its US operations. Depending on how this situation evolves and how it impacts other Chinese companies in the tech industry, we may see more volatility in the days ahead.

In currency markets, the US dollar continued to hover near its two year lows against a basket of currencies. Bears are looking for a break below 92.12 in the Dollar Index, but given that short positions are at extremes we may see more consolidation before another downside move. Gold will continue to be one of the best beneficiaries of the dollar’s weakness so expect to see a retest above $2,000 in the upcoming weeks.

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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.

Investors Awaiting Fed’s Powell Speech Before Making Their Next Move

Inflation is the keyword and the policy framework to target it will determine whether we see more upside to risk assets in the months to come.

So far, we have only seen rising prices in asset classes such as stocks in particular, but throughout the past decade, the consumer price index has averaged around 1.5% so missing the Fed’s 2% inflation target. The FOMC’s dual mandate has been to maximise sustainable employment and keep prices stable and while they have been successful in the former (prior to the pandemic), they have failed miserably on consistently hitting their price target.

‘Average inflation targeting’ is the new formula expected to be endorsed by Powell today. It’s a policy framework that allows inflation to run above or below the 2% target, but given that inflation has been running below target for several years, the objective would be to allow price rises to overshoot for more extended periods before tightening policy.

However, the idea of allowing inflation to run above target for extended periods is hard to sell to politicians, so it will be interesting to see how Powell is likely to package the new policy framework.

The positive sentiment in US equities continued yesterday with the S&P 500 and Nasdaq hitting new record highs ahead of this week’s key risk event. It seems expectations may be too high as Powell will need to be overly dovish to meet these expectations. No one believes that he will disappoint the markets but given the scale of the latest rally in stocks, chances of a pullback are high before bulls resume their march higher.

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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 31

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

Powell Could Jolt Dollar, Gold

The DXY bounced off the 92.1 support level last week to now stay closer to the 93 psychological mark, as it maintains its month-to-date sideways trend.

Meanwhile, Bullion prices have been contented staying in sub-$1950 levels, perhaps still reeling from the August 19th drop of 3.67 percent, as well as the 5.69 percent plunge on August 11th.

However, all this could drastically change tomorrow.

On Thursday, global investors will be paying close attention to Federal Reserve chair Jerome Powell’s speech at the virtual Jackson Hole Symposium, which is a key annual gathering of the world’s leading central bankers. Powell is expected to give markets a heads up on the Fed’s new approach to US inflation.

For context, the Fed embarked on a review of its monetary policy framework last year, which is focused on the central bank’s strategy on dealing with inflation. This could mean significant changes are afoot for the Fed’s two percent inflation target, which was first announced back in 2012; a target it has mostly missed in the years since.

So why is this important for Dollar and gold traders?

Keep in mind that the primary driver for the Greenback and Bullion of late has been the shift in expectations surrounding US inflation over the past couple of months. The narrative has been that the Fed would tolerate faster US inflation, which erodes the Dollar’s purchasing power, prompting investors to ditch the Greenback and swarm towards Gold, with the yellow metal traditionally being seen as a hedge against inflation.

On Thursday, markets expect Powell to at least suggest that the Fed is willing to aim for inflation that’s above its two percent target.

Should the Fed chair confirm such a notion during his speech on August 27th, that could shove the Dollar and Gold out of their respective sideways trends, with the former potentially resuming its decline while restoring the precious metal to its upwards trajectory. But if Powell were to disappoint investors with vague words on Thursday, it then sets up the September 15-16 FOMC meeting for when the Fed’s new strategy could be officially unveiled.

As and when such an announcement is made, it could still jolt not just the US Dollar and Gold, but global markets as well. After all, the Fed’s rhetoric matters greatly to the markets. We only need to look at how the Dollar and Gold responded to the July FOMC meeting minutes, which were released on August 19th.

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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.

FXTM Educational Resources Explored – Webinar Aug 26

Join Trading Educator Theunis Kruger for an informative presentation on our wide array of educational resources. Designed for both new and intermediate traders, this webinar emphasises the importance of scheduled self-study and the dangers of ad hoc reading. 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 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.

Live Market Analysis and Q&A – Webinar Aug 27

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.

REGISTER FOR FREE

  • Log in or register
  • Click ‘Join Now’ on your chosen Webinar
  • 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.

The Naga Group Announces Strategic Expansion to Australia and the African Region Accompanied by Strong July Results

After its profitable record half year, a successful capital increase and share price performance of more than 250% year-to-date, NAGA is set to expand its services in further regions outside Europe. Given the strong global demand for digital solutions in the financial education, investing and personal finance space, the NAGA management chose to expand NAGAs services to Australia and the African region.

“These are very special times for the entire global economy. One key takeaway is that everyone and everything goes digital. Especially digital solutions for financial services see significant demand and this opens new room for growth. Due to our entirely digital setup we are in a position to scale very quickly and enter markets fully online. We believe that NAGAs products and services meet all criteria for clients in the digital era. We are ready to grow NAGA through robust regulatory setups and scale faster than ever before”, says Benjamin Bilski, Founder & CEO of NAGA.

With the registration of NAGA Markets Australia Pty Ltd last week, NAGA plans to start its Australian operations in 2021 subject to regulatory approval by the local regulator, ASIC. A local presence is foreseen in Sydney in the upcoming months. “With more than six million people who invest actively in the financial markets, Australia shows a massive potential for us. Our platform is ready for the Australian market and in our view, fits the Australian client profile. We would be able to expand our client base, capture more trading hours per day and accelerate our growth significantly. We are very excited and genuinely looking forward to bringing the most advanced technology for social investing to Australia”, adds Bilski.

To top this up, NAGA seeks a licence by the FCSA in South Africa with a local presence in Capetown, planning its launch also early next year. “South Africa has seen a lot of momentum in the CFD & stock trading market over the past years. With the same time zone and English as first language, the entry into the market will be extremely efficient for us. Based on our market research we have learned that a social investing platform like NAGA will have a head-start in South Africa and that the market still has substantial growth potential”, comments Bilski the planned start in South Africa. Additionally, NAGA has already expanded into the African region with 2 training centers in Nigeria namely, in Port Harcourt and Lagos which already welcomed our first clients.

Concluding the news about its expansion, the NAGA Management also reports the trading results of July. Sales stood at approx. € 2.2 million with a recorded trading volume of close to €10 billion and 532.000 real-money transactions. “Despite the fact that summertime usually has lower trading activity due to the holiday season, we are very satisfied with the result of July, especially that we were able to post a profitable month on a net-profit level, even though we invest heavily into growth. We are fully on track to reach our targets published last month. By now it is also concretely evident that volatility of the first quarter of the year due to COVID-19 has contributed to our revenues however the core of our great results has been simply customer base growth which continues to drive NAGA forward every single month. It is essential for us to further grow the customer base, increase our brand exposure and push for more marketing”, concludes Bilski.

About NAGA

NAGA is an innovative fintech company that has developed a socially enhanced financial system that creates a unified and seamless experience across personal finance and investing. Its proprietary platform offers a range of products ranging from trading, investing, and cryptocurrencies to a physical Mastercard and social investing features such as a Feed, a Messenger and Auto-Copy. NAGA is a synergistic all-in-one solution that’s accessible and inclusive, and that provides a better way to trade, invest, connect, earn, acquire and pay, across both fiat and crypto.

Twin Storms Could Lift Oil Prices Higher

Hurricane Marco is set to make landfall in the state of Louisiana on Monday, with the larger and potentially more damaging Tropical Storm Laura following hot on Marco’s heels. About 58 percent of Oil output and 45 percent of natural gas production in the Gulf of Mexico have already been shut, according to the US Department of the Interior.

Although hurricanes are an annual phenomenon for these oil platforms, to have two in quick succession could ensure that Gulf output stays lower for longer, potentially lifting Crude prices higher.

On the daily chart, note that Crude has edged above its 200-day simple moving average (SMA) over recent days, aided by last week’s 1.6 million-barrel drawdown in US crude stockpiles.

Looking ahead, the extent of the storms’ impact on US oil output could determine whether Crude prices can push meaningfully higher above that technical indicator (200 SMA), even as it remains guided upwards by its 50-day SMA. Crude Oil remains set to carve out a fourth consecutive monthly gain, with its benchmark futures contract having already advanced by over 4.5 percent thus far in August.

Even though five storms have already hit the US so far this year, the recovery in global Oil prices has lured producers back into the game. The total number of active Oil rigs in the US rose by 11 to 183 last week, according to Baker Hughes data. The prospects of more incoming supply could still dampen Oil’s upside.

On the demand-side however, investors are still concerned over the flare-up in coronavirus cases in Europe and Asia. South Korea is at risk of a “massive nationwide outbreak”, with the government mulling bringing back the highest level of social-distancing measures, which would hit its economic recovery. With global cases now topping 23.3 million, while deaths have exceeded 807,000, the global economic recovery could be severely hampered as major countries struggle to get a grip on the pandemic.

With Oil prices stuck between the potential supply-side tailwinds and the demand-side drag, Oil prices could well stick to its tight range until the supply-demand dynamics can demonstrate a more obvious tilt either way.

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