Cyprus based forex broker Orbex wins the best customer support award by Forex Report, an authoritative outlet. Here is the official press release: Limassol, July 6, 2016 – Orbex, a leading global forex broker, is celebrating its 4th international award this year. Orbex has been recognized as the ‘Best Customer Support’ provider by one of … “Orbex Wins Best Customer Support Award at Forex Report”
Month: July 2016
Great Britain Pound Touches Fresh Multi-Year Lows
The Great Britain pound sank to new multi-year lows today as Britain’s decision to leave the European Union made investors shun the currency. While it looked like fears of the Brexit were subsiding, now it is evident that they are still present and drive markets. Yesterday, the Bank of England spoke about possible negative impact of the exit from the EU on the UK economy. Speculators price in an interest rate cut from … “Great Britain Pound Touches Fresh Multi-Year Lows”
Yen Rallies to New Multi-Year Highs vs. Dollar & Pound
The Japanese yen rallied today, reaching fresh multi-year highs against the US dollar and the Great Britain pound, as fears of the Brexit and its impact on the world economy made investors seek safer options. Fear has returned to markets, and it spurred demand for safe haven assets. The yen is traditionally considered to be one of them. The dollar is another one, but the negligible chances for an interest rate hike from the Federal Reserve … “Yen Rallies to New Multi-Year Highs vs. Dollar & Pound”
EUR/USD: En-Route To 1.05 On Brexit Contagion – BofA
After GBP/USD crashed under 1.30 the euro could also follow lower over Brexit. Here is the forecast by Bank of America Merrill Lynch: Here is their view, courtesy of eFXnews: The implications of the UK referendum result are hard to nail down, but we expect them to be negative in most scenarios. We would expect Brexit to … “EUR/USD: En-Route To 1.05 On Brexit Contagion – BofA”
Forex Orders: How and When to Use Them
When starting out with forex trading, it is important to be aware of the various types of forex orders which can be executed, the ways in which they can be used and the best times to choose each one. Here we look at all of the main types of forex orders so that you can … “Forex Orders: How and When to Use Them”
EUR/USD to parity in 12m, GBP/USD to 1.20 in 3m
We have seen how GBP/USD crashed under 1.30 and EUR/USD is carried along in a second big wave of post-Brexit selling. The team at Goldman Sachs provides new deep targets: Here is their view, courtesy of eFXnews: Following the Brexit surprise, we revised our Sterling forecasts weaker, but – amid lots of doomsday scenarios for the Pound … “EUR/USD to parity in 12m, GBP/USD to 1.20 in 3m”
Positive Data Fails to Buoy New Zealand Dollar
The New Zealand dollar dropped today, finding little help from domestic macroeconomic indicators that were pretty good. It is important to note that most reports for June or earlier months did not have time to react to the Brexit, therefore the picture they paint is likely to be outdated. The New Zealand dollar followed its Australian counterpart in decline even though New Zealand reports were good, … “Positive Data Fails to Buoy New Zealand Dollar”
Australian Dollar Falls After RBA Meeting
The Australian dollar fell today even though the nation’s central bank refrained from cutting interest rates. Worse-than-expected domestic data might be one of the reasons for the currency’s drop. The Reserve Bank of Australia decided to keep monetary policy the same but said that it may change its stance depending “further information”, including the impact of the Brexit on the global economy. As for economic data, retail sales grew 0.2% in May, failing … “Australian Dollar Falls After RBA Meeting”
GBP/JPY One Triggers Another
The most recent Bank of Japan monetary policy meeting adjourned 15 June, just one week before the UK referendum vote. The question must be asked whether the BOJ considered any risk to the Japanese economy either before or after the vote. True, there is an important relation between the Sterling and the Yen as IMF … “GBP/JPY One Triggers Another”
USD/JPY: Trading the ISM Non-Manufacturing PMI
The ISM Non-Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in the US. A reading which is higher than the market forecast is bullish for the dollar. Here are all the details, and 5 … “USD/JPY: Trading the ISM Non-Manufacturing PMI”