The data indicated that while the recovery in the U.S. remains uneven, the economic outlook is continuing to improve. The dollar has strengthened broadly since the Fed announced its decision in December to scale back its asset purchase program, cutting it by USD10 million, to USD75 billion-per-month. The Aussie found some support however after data on Monday showed that China’s economy grew 7.7% in the fourth quarter from a year earlier, slowing from 7.8% in the previous quarter, but still above the 7.6% forecast by economists.
Weekly Forex Trading Forecast: Its Fed Taper Versus BoJ Stimulus Next Week
The U.K. is to release official data on the change in the number of people unemployed and the unemployment rate, as well as data on average earnings and public sector borrowing. Meanwhile, the Bank of England is to publish the minutes of its most recent policy setting meeting. The ZEW Institute is to publish a report on economic expectations in Switzerland, a leading indicator of economic health. The BoC is to announce its benchmark interest rate and publish its rate statement and monetary policy report.
Forex – Weekly outlook: January 20 – 24
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Learn forex trading with a free practice account and trading charts from FXCM . Currency Record-setting fines have added up to $10.86 billion for European majors so far. With new probes still being added to the list of investigations, further penalties are likely on the horizon. MarketWatch As the Federal Reserve starts to wind down its stimulus program, concerns are rising that “tapering” could generate new risks for global property markets. CNBC Inovio Pharmaceuticals, still without a product on the market, sees stock price surge in 2013.
Exclusive: Easy Forex Wields The Axe As Series Of Employees Are Made Redundant
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FOREX-U.S. dollar stands tall, while Aussie buckles
According to one particular source who asked to remain anonymous, Easy Forex has made seven employees within its Cyprus operations redundant. Business is down, as are volumes, and things do not look good. A dramatic claim indeed, to which Chief Marketing Manager of Easy Forex, Hillik Nissani, answered that: This is a focus thing. In an interview with Forex Magnates, Mr. Nissani confirmed the move and explained that, This is part of a process that every healthy company that wants to accelerate its growth is doing focusing its resources in the places that generate the most profits. We are just making sure we have the right people in the right places. Mr. Nissani went on to explain that what he describes as corporate focusing by letting these employees go is far from indicating a negative website aspect of the firms business. It is rather a part of a commercial streamlining effort insofar as, We have a lot more open positions than the number of people who left, only these are in different offices and roles in which we need them. As far as regional emphasis is concerned, Mr.
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Forex: USD/CAD en route to 1.14: Goldman Sachs
Traders expect little market action in the lead up to a batch of Chinese data due around 0200 GMT, while overall volume could be dampened by a holiday in the United States. China will release industrial output, retail sales and fourth-quarter gross domestic product (GDP). Analysts at Barclays Capital see a further moderation in China’s industrial production growth and GDP as elevated interest rates across the money, bond and credit markets could lead to higher funding costs and weigh on economic growth. “Investors in resource risk currencies such as the AUD, BRL and ZAR will be watching the news out of China very closely, as it will set the tone not just for now but for the rest of the trading year,” said Evan Lucas, strategist at IG in Melbourne. “The market is looking to poke holes in anything that shows signs of sustainability from China.” The Aussie, already hit by weak jobs data at home last week, looked vulnerable at $0.8771 within a hair’s breadth of a 3-1/2 year trough of $0.8764 plumbed Friday.