USD/CNH Intra-Day Fundamentals: China Trade Balance and 46 pips price movement
2016-07-13 07:00 GMT | [CNY - Trade Balance]
if actual > forecast (or previous one) = good for currency (for CNY in our case)
[CNY - Trade Balance] = Difference in value between imported and exported goods during the previous month.
USD/CNH M5: 46 pips price movement by China Trade Balance news event
USD/CAD Intra-Day Fundamentals: Bank of Canada Overnight Rate, BoC Monetary Policy Report and 101 pips price movement
2016-07-13 14:00 GMT | [CAD - Overnight Rate]
[CAD - Overnight Rate] = Interest rate at which major financial institutions borrow and lend overnight funds between themselves.
USD/CAD M5: 101 pips price movement by Bank of Canada Overnight Rate news event
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2013.07.01 07:19
Just next educational article about ECN and so on - Market Makers Vs. Electronic Communications Networks
The foreign exchange market (forex or FX) is an unregulated global market in which trading does not occur on an exchange and does not have a physical address of doing business. Unlike equities, which are traded through exchanges worldwide, such as the New York Stock Exchange or the London Stock Exchange, foreign exchange transactions take place over-the-counter (OTC) between agreeable buyers and sellers from all over the world. This network of market participants is not centralized, therefore, the exchange rate of any currency pair at any one time can vary from one broker to another.How Market Makers WorkMarket makers "make" or set both the bid and the ask prices on their systems and display them publicly on their quote screens. They stand prepared to make transactions at these prices with their customers, who range from banks to retail forex traders. In doing this, market makers provide some liquidity to the market. As counterparties to each forex transaction in terms of pricing, market makers must take the opposite side of your trade. In other words, whenever you sell, they must buy from you, and vice versa.The exchange rates that market makers set, are based on their own best interests. On paper, the way they generate profits for the company through their market-making activities, is with the spread that is charged to their customers. The spread is the difference between the bid and the ask price, and is often fixed by each market maker. Usually, spreads are kept fairly reasonable as a result of the stiff competition between numerous market makers. As counterparties, many of them will then try to hedge, or cover, your order by passing it on to someone else. There are also times in which market makers may decide to hold your order and trade against you.There are two main types of market makers: retail and institutional. Institutional market makers can be banks or other large corporations that usually offer a bid/ask quote to other banks, institutions, ECNs or even retail market makers. Retail market makers are usually companies dedicated to offering retail forex trading services to individual traders.Pros:
How ECNs WorkECNs pass on prices from multiple market participants, such as banks and market makers, as well as other traders connected to the ECN, and display the best bid/ask quotes on their trading platforms based on these prices. ECN-type brokers also serve as counterparties to forex transactions, but they operate on a settlement, rather than pricing basis. Unlike fixed spreads, which are offered by some market makers, spreads of currency pairs vary on ECNs, depending on the pair's trading activities. During very active trading periods, you can sometimes get no ECN spread at all, particularly in very liquid currency pairs such as the majors (EUR/USD, USD/JPY, GBP/USD and USD/CHF) and some currency crosses.Electronic networks make money by charging customers a fixed commission for each transaction. Authentic ECNs do not play any role in making or setting prices, therefore, the risks of price manipulation are reduced for retail traders. (For more insight, see Direct Access Trading Systems.)Just like with market makers, there are also two main types of ECNs: retail and institutional. Institutional ECNs relay the best bid/ask from many institutional market makers such as banks, to other banks and institutions such as hedge funds or large corporations. Retail ECNs, on the other hand, offer quotes from a few banks and other traders on the ECN to the retail trader.Pros:
The Bottom LineThe type of broker that you use can significantly impact your trading performance. If a broker does not execute your trades in a timely fashion at the price you want, what could have been a good trading opportunity can quickly turn into an unexpected loss; therefore, it is important that you carefully weigh the pros and cons of each broker before deciding which one to trade through.
AUD/USD Intra-Day Fundamentals: Australian Employment Change and 38 pips price movement
2016-07-14 01:30 GMT | [AUD - Employment Change]
if actual > forecast (or previous one) = good for currency (for AUD in our case)
[AUD - Employment Change] = Change in the number of employed people during the previous month.
TREND ESTIMATES (MONTHLY CHANGE)
AUD/USD M5: 38 pips price movement by Australian Employment Change news event
Trading News Events: BoE Official Bank Rate and Monetary Policy Summary (adapted from the article)
2016-07-14 11:00 GMT | [GBP - Official Bank Rate]
if actual > forecast (or previous one) = good for currency (for GBP in our case)
[GBP - Official Bank Rate] = Interest rate at which the BOE lends to financial institutions overnight.
Why Is This Event Important:
"With the U.K. positioned to leave the European Union (EU), the BoE may
have little choice but to further support the economy in 2016 as
Governor Mark Carney tries to avoid a recession. A material shift in the
policy outlook is likely to drag on the sterling as interest-rate
GBP/USD H1: ranging inside Ichimoku cloud for direction.
The price is on ranging bearish market condition to be located inside Ichimoku cloud and near below Senlou Span line which is the border between the primary bearish and the primary bullish trend on the chart. Price is breaking Senkou Span line to above for the 1.3275 resistance level as a next target for the primary bullish reversal.
If the price breaks 1.3106 support level to below on close H1 bar so the primary bearish trend will be resumed without ranging up to the new bottom to be formed.If the price breaks 1.3275 resistance to above on close H1 bar so the reversal of the price movement from the ranging bearish to the primary bullish market condition will be started.If not so the price will be continuing with the ranging within the levels for direction.
GBP/USD Intra-Day Fundamentals: BoE Official Bank Rate and 235 pips price movement
"The Bank of England’s Monetary Policy Committee (MPC) sets
monetary policy to meet the 2% inflation target and in a way that helps
to sustain growth and employment. At
its meeting ending on 13 July 2016, the MPC voted by a majority of 8-1
to maintain Bank Rate at 0.5%, with one member voting for a cut in Bank
Rate to 0.25%. The
Committee voted unanimously to maintain the stock of purchased assets
financed by the issuance of central bank reserves at £375 billion. Committee
members made initial assessments of the impact of the vote to leave the
European Union on demand, supply and the exchange rate. In
the absence of a further worsening in the trade-off between supporting
growth and returning inflation to target on a sustainable basis, most
members of the Committee expect monetary policy to be loosened in
August. The precise size and nature of any stimulatory measures will be determined during the August forecast and Inflation Report round."
GBP/USD M5: 235 pips price movement by BoE Official Bank Rate news event
EUR/USD Intra-Day Fundamentals: U.S. Producer Price Index and 42 pips price movement
2016-07-14 12:30 GMT | [USD - PPI]
if actual > forecast (or previous one) = good for currency (for USD in our case)
[USD - PPI] = Change in the price of finished goods and services sold by producers.
EUR/USD M5: 42 pips price movement by U.S. Producer Price Index news event
USD/CNH Intra-Day Fundamentals: China Gross Domestic Product and 60 pips price movement
2016-07-15 02:00 GMT | [CNY - GDP]
[CNY - GDP] = Change in the inflation-adjusted value of all goods and services produced by the economy.
From news.com.au article:
USD/CNH M5: 60 pips price movement by China Gross Domestic Product news event
Cuong Truong, 2016.07.15 10:20
EUR/USD Intra-Day Fundamentals: Euro Consumer Price Index
2016-07-15 09:00 GMT | [EUR - CPI]
if actual > forecast (or previous one) = good for currency (for EUR in our case)
[EUR - CPI] = Change in the price of goods and services purchased by consumers.
EUR/USD M5: price movement by Euro Consumer Price Index news event