MetaQuotes, the company behind the popular trading software MetaTrader 4, has warned brokers not to work with Zulutrade, Myfxbook, Tradency and Tradeo. These third party providers are accused by MetaQuotes of hacking the MT4 platform. Forex Magnates revealed this and is following up on this evolving drama that affects many traders. Tradency has already responded … “MetaQuotes clashes with ZuluTrade, Myfxbook, Tradency and Tradeo –”
Month: June 2013
FXstreet launches new free live analysis room: 4 hours
Forex portal FXstreet launches a new service for traders: a live trading room that will operate 4 hours on every weekday: between 13:00 to 17:00 GMT. Veteran analysts and trader Dale Pinkert will run the room and the aim is to have a close relationship between experts and traders, similar to the atmosphere at FXstreet’s … “FXstreet launches new free live analysis room: 4 hours”
AUDUSD Could Continue Lower Within Larger Downtrend (Elliott Wave
We can see a mixed picture on the markets today; USD is up against AUD, JPY and GBP, but sideways against the EUR while gold is down and S&P futures remain unchanged. The main focus today is on AUD, which is moving lower across the board as the RBA leaves the door firmly open for further … “AUDUSD Could Continue Lower Within Larger Downtrend (Elliott Wave”
USD/JPY: Trading the ISM Services PMI Jun 2013
The ISM Non-Manufacturing PMI (Purchasing Managers’ Index), also known as the Services PMI, is based on a survey of purchasing managers, who are asked to rate business conditions in the non-manufacturing sector. A reading which is higher than the market forecast is bullish for the dollar. Here are all the details, and 5 possible outcomes for … “USD/JPY: Trading the ISM Services PMI Jun 2013”
Dollar Drops as Economic Data Suggests Extension of QE
The US dollar dropped as worse-than-expected macroeconomic reports from the Untied States fueled speculations that the Federal Reserve will maintain quantitative easing. The Purchasing Managers’ Index of Institute for Supply Management unexpectedly fell from 50.7 percent in April to 49.0 percent in May. Analysts have hoped that the gauge would stay little changed. The reading below the 50.0 level indicated contraction and it was the first decline since November 2012. … “Dollar Drops as Economic Data Suggests Extension of QE”
AUD/USD: Trading the Australian GDP Jun 2013
Australian Gross Domestic Product (GDP) is a key release and is published each quarter. GDP measures production and growth of the economy, and is considered by analysts as one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Australian dollar. Here are all the details, … “AUD/USD: Trading the Australian GDP Jun 2013”
Japanese Yen Higher Against Major Counterparts
Japanese yen is moving higher against its major counterparts today, gaining some ground as questions about the recent easing policies come to light. Some think that the recent (and dramatic) drop in the yen was too much, and now there is a bit of a correction, sending the yen higher against other currencies. A bit of risk appetite is weakening the US dollar in general, and the latest economic data out of the United States … “Japanese Yen Higher Against Major Counterparts”
Manufacturing Data Boosts Euro
The latest manufacturing data out of the eurozone is helping the 17-nation currency today. The good news is providing a boost for the euro against its major counterparts as expectations for an improving economy increase. Manufacturing in Italy, France, Spain, and Germany all showed improvement in the latest reports of PMI. Additionally, the purchasing managers index for the entire eurozone also contracted less that previously. While the eurozone PMI reports still show contraction, the contraction is … “Manufacturing Data Boosts Euro”
Yuan Drops as Manufacturing Contracts
The Chinese yuan fell today as China’s manufacturing contracted last month, adding to concerns that the nation’s economy is going to experience slower growth. The HSBC China Manufacturing Purchasing Managers’ Index fell from 50.4 in April to 49.2 in May. The report said: The downward revision of the final HSBC China Manufacturing PMI suggests a marginal weakening of manufacturing activities towards the end of May, thanks to deteriorating domestic demand conditions. The decline was … “Yuan Drops as Manufacturing Contracts”
Spain: Is the economy waking up from its siesta? 3
Spain, the euro-zone’s fourth largest economy, might begin moving away from the never-ending deterioration. No, the country hit by a shocking unemployment rate of 27.2% is not returning to growth so fast, but there might be some “green shoots”. Here are three positive signs: Stronger PMIs: the manufacturing purchasing managers’ index for May unexpectedly rose … “Spain: Is the economy waking up from its siesta? 3”