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Alain Verleyen
Moderator
30183
Alain Verleyen 2013.06.04 14:08 

This link provided to me by RaptorUK, give me the idea that it would be interesting to have a place here on the site to share such links. So I opened a new topic, it will be moderated to follow the rules as usual, but also about the content.

  • Everyone can post but have to provide a quote and the link to the source.
  • Only content related to forex, trading, and programming for these are allowed.
Alain Verleyen
Moderator
30183
Alain Verleyen 2013.06.04 14:09  

About the brokers, here an interesting quote :

CEO of FXCM explained “For the retail FX business to grow, trust has to increase in the retail sector. Currently, it is haunted by widespread customer belief that retail forex is an unfair business. This whole segment carries a stigma and on that basis must mature past this.”

“Customer demand is beginning to bubble up but also from a regulatory perspective. The Dodd-Frank Wall Street Reform Act contains an issue whereby a whole range of instruments are being described as swaps. If this is happening for the wholesale market, it must follow for retail.”

Forex Magnates IFXEXPO Cyprus Conference – Day 1 Draws to a Close
Forex Magnates IFXEXPO Cyprus Conference – Day 1 Draws to a Close
  • Andrew Saks McLeod
  • forexmagnates.com
In conjunction with Conversion Pros, Forex Magnates is currently hosting the IFXEXPO international forex summit at the Grand Resort Hotel in Limassol, Cyprus. Approximately 1,500 industry figures are present, from global banks and liquidity providers to companies which provide the technology and systems which shape the online trading world. It...
Sergey Golubev
Moderator
54368
Sergey Golubev 2013.06.04 16:25  

We had USD Trade Balance at 12:30 GMT today - high impacted news event. As we know - if actual data > forecast is more good for currency (USD). Previous data was -37.1B, forecast was -41.1B and actual data (latest release) was -40.3B.

Read more on this small article: U.S. Trade Deficit Widens In April But Still Narrower Than Expected

A report released by the Commerce Department on Tuesday showed that the trade deficit widened to $40.3 billion in April from a revised $37.1 billion in March.

Economists had been expecting the trade deficit to widen to $41.2 billion from the $38.8 billion originally reported for the previous month.

Paul Ashworth, Chief U.S. Economist at Capital Economics, said the rebound by the trade deficit was "largely due to an unwinding of the distortion caused by the Chinese Lunar New Year Holiday."

Sergey Golubev
Moderator
54368
Sergey Golubev 2013.06.05 12:30  

It was GBP Services PMI at 08:30 GMT and GBPUSD went to breakout (see the chart). Why? Because of the following: actual > forecast is good for GBP

that is why we got breakout:

Forum

GBPUSD Technical Analysis 02.06 - 09.06 : Trying to Reverse to Bullish

newdigital, 2013.06.05 11:24

And this brerakout is related to this forex news event (medium impacted event but directly related to GBP):

2013-06-05 08:30 GMT | [GBP -Service PMI]



By the way, some more information about it can be found here: GBP/USD hits session highs after U.K. data, gains capped :

The Markit U.K. services purchasing managers’ index rose to 54.9 in May from 52.9 in April, outstripping expectations for a reading of 53.0.

The data reinforced expectations that the Bank of England would keep monetary policy unchanged at its monthly meeting on Thursday after better-than-forecast U.K. data on manufacturing and construction earlier in the week.

Markit Economics - Press releases
  • www.markiteconomics.com
To receive the underlying data to our press releases, please email economics@markit.com. Note: all times are UK time. * released 2 minutes earlier on Reuters
Sergey Golubev
Moderator
54368
Sergey Golubev 2013.06.05 15:08  

This was ADP Employment Change (for USD). It was at 12:15 GMT:

2013-06-05 12:15 GMT | [USD -ADP Employment Change]

What is ADP Employment Change? This is Automatic Data Processing Non-Farm Employment Change. If actual value > forecast value so it is good for currency (for USD in our case)

Private-sector employment increased by 135,000 from April to May, on a seasonally adjusted basis. (The estimated gain from March to April was revised down to 113,000).

From Reuters - source - Private sector adds 135,000 jobs in May: ADP :

Private employers added 135,000 jobs in May, the ADP National Employment Report showed on Wednesday, missing forecasts for a gain of 165,000.

So, actual was less than forecast, right? that is why we had this breakdown for USDCHF:



and this breakout for GBPUSD:


MetaTrader Trading Platform Screenshots

GBPUSD, M1, 2013.06.05

MetaQuotes Software Corp., MetaTrader 5, Demo

adp2

GBPUSD, M1, 2013.06.05, MetaQuotes Software Corp., MetaTrader 5, Demo


ADP National Employment Report - May 2013 | NER
  • www.adpemploymentreport.com
Private-sector employment increased by 135,000 from April to May, on a seasonally adjusted basis. (The estimated gain from March to April was revised down to 113,000). Highlights Note: All size data included in the ADP National Employment Report is based on size of business, defined as an entity with a unique Employer Identification Number...
Alexander Piechotta
6930
Alexander Piechotta 2013.06.05 19:06  

About the usage of copy trading platforms, here an interesting quote : 

MetaQuotes Puts The Copy Trading Cat Among The Pigeons – What Does the Industry Think?

MetaQuotes Puts The Copy Trading Cat Among The Pigeons – What Does the Industry Think?
MetaQuotes Puts The Copy Trading Cat Among The Pigeons – What Does the Industry Think?
  • Andrew Saks McLeod
  • forexmagnates.com
With MetaQuotes urging users of its MetaTrader 4 platform not to use copy trading platforms Myfxbook, Zulutrade, Tradeo and Tradency, the viewpoint within the industry on the matter begins to make ...
Alain Verleyen
Moderator
30183
Alain Verleyen 2013.06.05 20:08  
newdigital:

Hi FinGer,

nice to meet you here. This subject was already discussed here: Is metaquotes getting power hungry?

Anyway this article is interesting.
Sergey Golubev
Moderator
54368
Sergey Golubev 2013.06.06 08:28  

We will have the following news event for today:

2013-06-06 11:00 GMT | [GBP -BoE Interest Rate]

if actual > forecast value so it is good for GBP. past value and forecast value are 0.50% and I think - actual will be 50% too. This is interesting to read this small article about it: Bank of England to keep policy steady at King's last meeting

LONDON, June 6 (Reuters) - Bank of England Governor Mervyn King is unlikely to convince the central bank to restart its bond-buying programme when he attends his final Monetary Policy Committee meeting on Thursday.

Britain's economy grew a faster-than-expected 0.3 percent in the first three months of 2013, and purchasing managers' data this week support the BoE's forecast that it will expand by 0.5 percent in the second quarter of the year.

Sergey Golubev
Moderator
54368
Sergey Golubev 2013.06.06 16:18  

We will have Non-farm Payrolls tomorrow so be careful with trading guys.

2013-06-07 08:30 GMT | [USD -Non-farm Payrolls]

Alain Verleyen
Moderator
30183
Alain Verleyen 2013.06.06 18:32  
Interesting fundamentals analysis.

Poor communication and confusing messages from central banks risk unleashing a Tsunami of volatility in underlying asset markets related to high-octane quantitative easing programmes, which could quickly spill over into exchange rates.

Most asset classes, particularly equities, have ceased to price fundamentals properly due to torrents of liquidity from central banks, which means they are even more prone to volatile behaviour than normal as the Japanese stock market has demonstrated. Abnormal price action in asset classes can quickly spill over into forex markets due to the inter-related nature of markets.

Read whole article.
Central banks close to unleashing Tsunami of volatility in forex markets | Forex Crunch
Central banks close to unleashing Tsunami of volatility in forex markets | Forex Crunch
  • Justin Pugsley
  • www.forexcrunch.com
Poor communication and confusing messages from central banks risk unleashing a Tsunami of volatility in underlying asset markets related to high-octane quantitative easing programmes, which could quickly spill over into exchange rates. Most asset classes, particularly equities, have ceased to price fundamentals properly due to torrents of...
Tonny Obare
26572
Tonny Obare 2013.06.06 18:43  
newdigital:

We will have Non-farm Payrolls tomorrow so be careful with trading guys.

2013-06-07 12:30 GMT | [USD -Non-farm Payrolls]

EURUSD is shooting up why is this? Me im for technical so i don't concentrate on news.
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