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  1. https://www.wikifx.com/cn_en/ After Christmas, the market gets busy again. Despite the somewhat gloomy previous figures , the first phase of China-US trade agreement had brought some feel-good factors for Christmas. But after the holiday, the market will again face down-slope risks in US dollar which may continue to be the market’s theme in the following months. A trade war hurts both China and the US, so a truce between the two countries will definitely boost market confidence, but that optimism needs to be backed by concrete economic situation, which obviously takes more time to recover. Little economic data was available around Christmas, but data released on Monday still indicates economic slowdown in the US. Key economic indicators in the US appear weak near the end of the year. Though the market expects all major economies around the world to avoid recession in 2020, US economy can face further slump before a rebound. The US Durable Goods Orders released on December 23rd dropped unexpectedly, which weighed down on other manufacturing indicators. Although new home sales rose percentagewise, but in absolute sense the number new homes sold in November had declined compared with that of October. All these weakening figures suggest the USD faces considerable risk of falling back in 2020. Besides, political uncertainty in the country may also affect the market’s response to the US dollar. President Trump becomes the third president in US history to face an impeachment. Although it’s less likely the impeachment will actually succeed given the majority of seats taken by Republicans in the Senate, the incident still puts US dollar in a test. As for currency pairs, the Canadian dollar also declined after its GDP softened. Canadian dollar remains in a strong momentum, but if domestic economic indicators remain sluggish and US economy continues to slow down, the Bank of Canada, which hadn’t cut interest rate in the past few months like many other central banks, will adopt easing policy in 2020. Pound sterling sell-off extends, euro is rallying while Australian dollar and New Zealand dollar continue to rise. But after the previous sell-off, AUD and NZD are considered ideal choices for pocketing profits at the end of the year. Time flies and the year is coming to an end, WikiFX once again accompanied investors throughout the cycle of changing seasons. In the past 2019, WikiFX has always been committed to providing investors with comprehensive broker information and timely forex updates and market trends. For the upcoming 2020, WikiFX will continue to bring investors even better experience through constant innovation and introduce more new functions. Please stay tuned.
  2. https://www.wikifx.com/cn_en/ The global financial market will welcome the new year this week. Although many Wall Street traders who have just enjoyed their Christmas holiday are yet to return to the market, but the sudden changes of the market is quite unexpected. Statistics show that USDX fell below the crucial 97 mark last Friday, while spot gold soared above US$1,515/ounce, breaking its record in almost 2 months. After US’s air strike against Syria and Iraq last weekend, risk aversion sentient again prevails on the global market. From historical data, the week of entering the new year is usually an eventful period. Investors are suggested to follow AUD/JPY’s trend. AUD/JPY pivot points: 76.27-76.39 S1 76.13 R1 76.65 S2 75.81 R2 76.85
  3. https://www.wikifx.com/cn_en/ Broker: Ortega Capital Location: Suite B-01, Lot 6, 1st Floor, SU3104 Jalan Tun Mustapha, 87007 Labuan F.T, Malaysia Conclusion: Broker’s licensed branch doesn’t exist Background Recently, investors reported that the broker Ortega Capital’s address on its official website and its regulatory address on LFSA (Labuan Financial Services Authority) website are inconsistent. The broker also charges a minimum deposit of US$ 5,000, and the demo account registered by new user cannot access the server. At the request of investors, WikiFX survey team decided to visit Ortega Capital’s licensed branch in Malaysia for more details. On-the-spot investigation According to the broker’s regulatory address on LFSA, we found the building where Ortega Capital should be located. Taking a closer look, we found that all the shops in the building were closed, with no one in or out, and there were no signs of business. Is Ortega Capital another "shell company"? In order to ensure an accurate survey results, we went into the building and looked carefully door to door, but failed to find any clues related to Ortega Capital. We thus concluded that the building is empty with no one working there. Conclusion Through our on-site investigation, Ortega Capital’s licensed branch in Malaysia doesn’t exist. Per checking WikiFX App, Ortega Capital’s rating is only 1.29, while the LFSA license it claims to hold is suspected to be a cloned one. The broker is currently without valid regulation, and investors should stay away from it to avoid potential risks.
  4. https://www.wikifx.com/cn_en/ Commodity currencies have performed well this month, especially the New Zealand dollar, which has performed best among the major currencies, and has now risen by nearly 4%. NZD has rose steadily since October, especially after leading indicators, such as business confidence, PMI survey and consumer confidence, have stabilized. Since then, the New Zealand dollar has continued to strengthen, while the good performance of the commodities further supported the currency. The New Zealand government ’s mid-year budget overview shows that the Reserve Bank of New Zealand’s easing cycle has completed the relay from monetary policy to fiscal policy, offering strong support for NZD; but despite the recent strong rebound, the NZD against USD is still somewhat lagging behind the strong momentum of the fundamentals, as the current price of 0.67 is still below the expected short-term reasonable price of 0.71. NZD/USD daily pivot points 0.6645---0.6657 S1 0.6637 R1 0.6678 S2 0.6610 R2 0.6692
  5. https://www.wikifx.com/cn_en/ We learned that PGWG is a forex broker registered in Australia and New Zealand that claims to be regulated by multiple authorities, offering financial services including securities insurance, fund and forex trading. Yet the broker has been frequently complained against and exposed. Could all its honors and highlights be nothing more than a bluff? Here’s the story of an investor at PGWG. Ms. Xu is a victim of PGWG. She said that she was first introduced to PGWG by Li Jinxi and under Mr. Li’s strong recommendation, Ms. Xu signed up at PGWG and made several deposits, which brought in moderate profits. But since this August, withdrawals first took longer than usual, and then Ms Xu began receiving one withdrawal through several separate transactions. Finally, she could no longer make any withdrawal. She contacted the broker several times about the matter but received no reply. WikiFX experts conducted a risk assessment on PGWG and found that the broker has significant risks. Per checking WikiFX App, we found that PGWG's score is only 2.14 and operates in overrun business, as it’s is not qualified for forex brokerage holding ASIC(Australian)’s license for investment consultation and FSPR(New Zealand)’s license for financial service provider. The broker is currently unregulated and has been marked by WikiFX as a risky broker! In recent years, illegal forex brokers have attempted to disguise themselves as compliant and regulated brokers through publicity campaigns on multiple media channels. Many investors have thus fall victims to these traps. Not knowing enough about illegal brokers is at the root of investors’ gullibility, so if you want to find out whether the broker you’ve chosen is compliant, or if you need to recover your losses after defrauded by scam brokers, you can become WikiFX App member and enjoy our professional assistance and services.
  6. https://www.wikifx.com/cn_en/ January effect is a seasonal pattern of generally uprising stock prices in January. The pattern is quite evident in historical records. For instance, the NASDAQ-100 index had gone up in January for 31 times since 1972. Over the past 3 years, major benchmark stock indices including STP 500, DAX30 index and SSE Composite index have all increased in January. The rising trend in January’s stock market may be partly attributed to investors’ putting their seasonal bonuses into the market, while investors’ mindset is another important factor. Many investors are inclined to establish new investment portfolio in the new year. Historical records of the STP 500 index since 1928 show that the average return rate in January is 1%, lower than that in March(1.2%), April(1.5%) and November(1.5%). On the other hand, average return in September is -0.5%.
  7. https://www.wikifx.com/cn_en/ Broker: Soegee Futures Visited on: November 25th, 2019 Conclusion: broker really exists On-the-spot investigation According to regulatory information, Soegee Futures’ licensed branch in Indonesia is at Graha Selaras LT .3, Jl. K.H. Mas Mansyur No.59 Jakarta, and WikiFX team recently visited the broker at the spot. Mas Mansyur is a renowned business area in downtown Jakarta, and there WikiFX survey team found the destination of this trip - a white office building with the sign “Graha Selaras” outside. We entered the building and followed the directory to the third floor, where we immediately found the striking logo of Soegee Futures. The receptionist gave us a warm welcome after we explained our intention and briefly introduced the company. Soegee Futures is a moderate-size company and has around 20 cubicles, with files stacking up on each office table. We thus confirm that the licensed branch of Soegee Futures truly exists. Analysis Through our recent visits to Indonesia-based brokers, WikiFX found that although not very sizable, most brokers hold retail forex licenses from BAPPEBTI and operate in fully legitimate business. Meanwhile, the rather low visibility of local brokers in the circle has largely stemmed from Indonesia’s overall forex environment. Indonesia's forex regulation started relatively late, while the business capabilities of local forex brokers also need further improvements. As conditions improve from all aspects in recent years, the Indonesian market has a great potential to rise with an amazing speed. According to its official website, Soegee Futures, established in 2003, is an international company specialized in futures investment. It allows customers around the world to trade through a variety of accounts including retail and professional accounts. Soegee Futures holds a retail foreign exchange license issued by BAPPEBTI and is also a member of Jakarta Futures Exchange(JFX) and Indonesia Derivatives Clearing House(KBI). It has more than 15 years of experience in the field of futures investment management and has won numerous awards. Regulatory information shows that the license of Soegee Futures is authentic and the broker is qualified for forex brokerage. Conclusion According to WikiFX App, the broker Soegee Futures is currently in valid regulation, holding license from BAPPEBTI. With a WikiFX rating of 5.97, the broker has acceptable reliability and investors may consider choosing this broker.
  8. https://www.wikifx.com/cn_en/ Gold registered additional growth before Christmas on December 24th. Spot gold rose as much as 1% at one point to US$1500.63/ounce, the highest since November 5th, while spot silver climbed for the 5th consecutive trading day to US$17.787/ounce, breaking the record in nearly 7 weeks. Sluggish US economic indicators and concerns over the trade relation have supported bullish trend in precious metals, while declining Treasury Bond yield has also boosted precious metals’ demand. Near the end of the year, many fund managers may choose to play defence, worrying whether the stock market can maintain its high position. Having hit a record-high in many years, any adjustment of the stock market can pep up gold price; facing the the overall situation where most assets have gained 2-digit growth, being more steady seems like a rational choice. Daily pivot points for gold: 1482--1484 S1: 1480 R1: 1488 S2: 1475 R2: 1491
  9. https://www.wikifx.com/cn_en/ As of the week of December 17th , 2019, net long orders of non-commercial USDX futures decreased by 10,000 lots to 11,600 lots, falling for the 11th consecutive week. Over the past 11 weeks, speculators have reduced a total of 31,000 lots in USD long positions, with a decline of more than 10,000 lots in this week alone. Since June 12th, 2018, the current long position is at the lowest in 79 weeks . In addition to the USDX, speculators are betting on bearish trend of both Canadian dollar and Australian dollar, as report showed CAD net long orders dropped by 9,550 to 11,000 lots and net shorts of AUD increased by 9,770 to 46,000 lots. With the listing of Saudi Aramco, speculators heavily stepped up long orders in crude oil by 67,000 lots last week and added 41,000 lots this week. In the past two weeks, long bets have increased by more than 100,000 lots. Speculators again increased long positions in gold this week, with net longs growing by 15,000 lots to 286,000 lots. For large speculators, the trend of gold is still hard to grasp, and their attitudes have been swinging back and forth in the past 6 weeks. Since October 4th, 2019, net longs in gold has been fluctuating between 253,000 and 290,000.
  10. https://www.wikifx.com/cn_en/ After more than a year’s busy preparation, WikiFX Magazine will be released Hong Kong for the first time! On this special occasion, we’d like to give our sincerest thanks to our clients and business partners for your supports. We hope that the English WikiFX Magazine can become a forex information portal through which investors can have better perspective of the complicated forex market, while we continue to make more efforts for the improvement of forex trading environment and the development of the industry. As a bond that links investors to the forex market, WikiFX Magazine comprehensively features business information, forex updates and business-related articles and offers investors valuable contents through in-depth investment commentaries, analysis of popular forex topics and outlooks of forex industry. “What is forex?” “How to profit through forex trading?” “How to become a successful investor?”...Such may be the recurring topic among investors. Beginners aspire to trade like those more skillful in trading, while the veteran investors may aspire to further polish their trading systems. But whichever level you’re at, you can find something that suits you in WikiFX Magazine. Let’s take a look inside the first WikiFX Magazine in Hong Kong: The most eye-catching exclusive reports that allow you to grasp the latest forex dynamics The most predictive interpretations from experts that help you grasp the market trend The most comprehensive research reports that reveals potential investment opportunities ...... With that being said, not all seemingly lucrative investment opportunities is worth considering. As forex becomes an increasingly popular type of investment, major regulators around the globe are tightening their measures and improving regulatory systems, but many regulatory measures are yet to be implemented. On today’s forex market, countless brokers claim to offer products and services “specially tailored for customers”, and investors have their profits guaranteed once they make deposit. Appealing as these promises may sound, most such products and services are a waste of time at best, and a downright scam at worse. Therefore, choosing a reliable broker is paramount in forex investment. Given the importance of this matter, WikiFX Magazine also includes broker-related contents including WikiFX On-the-spot Investigation, WikiFX Illegal Broker Exposure and WikiFX Monthly Broker Rankings. On-the-spot Investigation records in detail how WikiFX team check the business and regulatory status of brokers through on-the-spot visits to their offices worldwide, while WikiFX exposure reveals the “true colors” of illegal brokers’ beneath their fake advertisements. In addition, WikiFX’s 4 monthly rankings of the top ad-spending brokers, top complained brokers, top visited brokers and top followed brokers are also good reference for investors. It’s also worth-noting that up till now, WikiFX has recorded detail profiles of over 15,000 forex brokers and the information from 31 regulation authorities worldwide. This effectively saves investors more time in looking up a broker, while better protecting their asset safety during trading by offering a transparent, secure and reliable trading environment. Having worked in the forex industry for years, WikiFX strives to a forex market with sound orders. In the past few years, WikiFX established several branches across the globe and remain committed to long-term goals such as researching local market environment and improving data on brokers’ regulation and compliance. Furthermore, WikiFX has traveled to many countries including Britain, Australia, Vietnam, Thailand, Singapore, Malaysia and Indonesia, in order to help investors find out more about the business of brokers in reality and avoid potential risks during investment process. Looking ahead, we will remain committed to our mission and strive to live up to expectations of clients, in facing the many challenges on our journey of making WikiFX a quality global forex magazine. We constantly improve the quality of WikiFX Magazine to bring readers better experience, you are more than welcomed to share your comments and advice on the magazine.
  11. https://www.wikifx.com/cn_en/ Australian dollar’s exchange rate against the US dollar further approaches the “fair value” , making it the most promising one among the G10 currencies in the upcoming few weeks. Short-term bond yield breaks through resistance and continues to climb, while Australia’s employment report in November was robust, adding to the domestic optimism towards economy. Technically, AUD against USD looks quite positive and has broken through resistance level. Against the backdrop of thawing international trade and easing monetary policies of global central banks, investors’ risk-aversion is cooling; major stock indices in Europe and US, as well as most major indices on the Asia Pacific market, have gone up. All these factors have provided strong support for the Australian dollar. AUD/USD daily pivot points 0.6895---0.6899 S1 0.6887 R2 0.6911 S2 0.6873 R2 0.6921
  12. https://jump.wikifx.com/83348CF26389B46D The Sino-U.S. trade war has become the focus of the market since it broke out, and the escalating situation year to date has drawn investors’ attentions. Although the scheduled tariff raise was postponed twice, as the trade negotiations continue to deepen, the market generally believes that the tariff decision launched on December 15th will be a turning point in the Sino-US trade war. For China and the United States as global powers, the trade war is actually a "lose-lose" situation, so both sides are also trying their best to reach an agreement and inject confidence into the market. On December 13th, only two days left before the scheduled tariff increase (December 15th). China and the US finally reached a trade agreement after many rounds of negotiations and dialogues. The two sides also confirmed that no new tariffs will be added to each other on December 15th after reaching the first phase of the trade agreement, while lowering some of the existing tariffs for the first time. This signals a thaw of China-US economic and trade relations and easing of the trade frictions. Investors sighed in relief on Monday(December 16th) after the 15th, and the stock market surged higher while Treasury Bond yield also increased. On the other hand, the currency market responded only moderately to the news. Though some currencies like USD/JPY closed higher, AUD/USD and NZD/USD didn’t meet the market’s expectation as both closed unchanged. The point is the current agreement is more like a ceasefire to some extent, while uncertainties remain for the future. The phase one agreement has been reached through a quite bumpy process, with several details still to be refined. According to US Treasury Secretary Steven Mnuchin, the phase two trade deal may come in stages, which is why the market has been prudent. Investors are worrying that this part of the deal is reversible, while phase two can be another tough battle. Analysts noted that amid the Fed’s cautious outlook, report of weak retail sales and a slumping Empire State Manufacturing Survey on Monday, the dollar still faces major risks of downdraft. As 2019 comes to an end and 2020 approaches, the forex market changing rapidly as always, and WikiFX will continue to release more forex market trends and updates. For more information, please visit WikiFX official website, App or Facebook page.
  13. https://jump.wikifx.com/83348CF26389B46D New Zealand’s economic growth has picked up speed in the third quarter, suggesting an end of the slowdown and the Reserve Bank of New Zealand(RBNZ) may not need to further cut interest rates. GDP increased 2.3% year on year in Q3, higher than the 2.1% growth from last quarter and in line with economist’ expectation. As improving business confidence and rising housing price add to the optimism that the economy has reached, or will soon reach a turning point, and the bets for further rate-cut have been falling. The central bank slashed the official cash interest rate to a record low of 1% this year, and the government also announced a NZ$12 billion(US$8 billion) infrastructure investment plan last week, which can further fuel into economic activities in the election year 2020. A moderately positive GDP in combined with recovering business confidence recently are somewhat reassuring for RBNZ, leading to a more balanced assessment of the central bank on its official cash rate risks. NZD/USD pivot points 0.6590--0.6600 S1 0.6582 R1 0.6619 S2 0.6558 R2 0.6632
  14. https://jump.wikifx.com/83348CF26389B46D Exposed broker: AAFT GLOBAL Regulatory status: unregulated Complainant: Mr. Shi Cause of complaint: investor unable to withdraw Last month, WikiFX exposed illegal broker AAFT GLOBAL whose unauthorized manipulation of investor’s account wiped out investor’s entire account balance. One month later, the broker is again in the spotlight for blocking investor’s withdrawal, while its official website became inaccessible and customer service remained out of reach. Let’s see some more details of the event. Event recap Similar to the previous exposure case, Mr. Shi also opened an account at AAFT GLOBAL through a so-called "financial adviser", but his trading didn’t go well and he soon lost some money due to high market volatility. In order to curb losses, Mr. Shi decided to withdraw the remaining balance, but the withdrawal turned out extremely difficult. When submitting the application, Mr. Shi frequently encountered problems such as website breakdown and application submission failure. After consulting the customer service, Mr. Shi tried again, but found that he could not even enter the amount of withdrawal. Again he tried to contact the customer service via the broker’s website and from his mobile phone, but neither worked. Until now, Mr. Shi still cannot withdraw his account balance. Analysis WikiFX exposed AAFT GLOBAL in an article a month ago, but apparently some investors failed to take the warning. All the exposure articles of WikiFX are based on the real experiences of investors, most of which have suffered heavy losses on illegal platforms, so investors should definitely watch out for these exposed scam brokers. As we mentioned before, AAFT GLOBAL’s official website is clearly flawed, and investors can notice the traps if they take a closer look. Both the Chinese and English versions of the introduction on AAFT GLOBAL's official website offered ambiguous descriptions about the company’s regulation, raising doubts among investors, while its advertisements were also suspected to be misleading. Conclusion According to WikiFX App, AAFT GLOBAL is currently unregulated and has been in business for less than a year. The broker has a low rating of only 1.89 on WikiFX App and bears tremendous risks, so investors should definitely stay away from it. WikiFX have now exposed countless illegal brokers through the articles based on thousands of investor complaints, and investors can draw valuable lessons from these peer experiences. If the broker you’re looking up has been exposed before, please be careful and mind the risks.
  15. https://jump.wikifx.com/83348CF26389B46D The U.S. dollar index rose on Wednesday, with data showing that U.S. industrial production rebounded in November, mainly due to the end of the General Motors strike. Housing starts and building permits both outperformed expectation, and the JOLTS employment data in October was also better than expected, suggesting a strong US job market. Strong economic data reduces the likelihood that the Federal Reserve will continue to cut interest rates in 2020. The Chicago Mercantile Exchange(CME Group)'s Fed Watch tool shows that the market expects a 2.2% probability for the Fed to cut interest rates on January meeting, while estimated likelihood of rate cuts in March and April sit at 4.3% and 12 % respectively. The same tool also indicates until December, 2020, there is a 50% chance that interest rates will remain at current level. The USDX has been up for two straight days for the first time since the last week of November and has now recovered a third of its loss in December.
  16. https://jump.wikifx.com/83348CF26389B46D A look-back on 2019 As global financial hubs, Europe, US, China and Japan have a large group of residents keen on investment and a wide client base of forex brokerage, thus being attractive to numerous forex brokers who flocked to expand their business in these area. But looking back on 2019, the global forex market has seen many challenges such as Brexit movement, Hong Kong unrest and the trade conflicts between China and US, as well as Japan and Korea. Many forex companies didn’t survive the series of shocks and went down, leaving investors at heavy losses. This market with a daily trade volume of 6.6 trillion USD offers as much risks to investors as profits, which means investors need to reconsider their strategies in face of these challenges. Outlook for 2020 The upcoming 2020 will again test the forex market and investors as well. As Frank Holmes, the CEO of US Global Investors mentioned when he commented on the prospect of investors, “Saving and investing monthly matter, they should be spontaneous and regular like brushing your teeth. Similarly, you should accumulate your wealth steadily and progressively.” In short, investors need to keep a steady pace in 2020, while closely following the big news and major economic indicators and avoid making impulsive and speculative decisions. Looking ahead, the forex market is still full of untapped potential. The major currencies will depend on bearish factors to gain more momentum, and investors should be more optimistic in seeking a promising currency pair to invest in. US dollar: 2020 can be even more challenging for the US economy, as there will be more negative factors driving a downcast compared with 2019. And with growing political uncertainty in the country that arises from the upcoming election, the economy faces more pressure, which casts a gloomy outlook over the US dollar. Euro: Generally, investors tend to favor underpriced currencies when the price is stagnant on the forex market. According to the Goldman Sachs prediction model, euro is 15% undervalued and thus makes an ideal choice for investors. British pound: The pound soared last week after Conservative Party won the snap election with an overwhelming majority. Market observers sounded upbeat as they believe UK’s economy will rebound at the beginning of 2020 after being sluggish for several months, propping up the pound as a result. Japanese yen: The low interest rate and high liquidity of yen have made it a perfect safe haven asset, in times of greater risks, the yen’s exchange rate may grow instead. But due to a soft global economy, fierce competition of the Asian market and limited room to further ease monetary policy, Japan may face greater risk of economic downdraft than the US. For more forex updates, please download WikiFX App.
  17. https://jump.wikifx.com/83348CF26389B46D As the UK general election settles down, the bearish trend for pound sterling may also come to an end, signaling a rally of the EUR/GBP; currently the market is focusing on how the government amend the Brexit bill. Econometric models show that there is a significant risk premium for the pound, the Swedish krona, and the New Zealand dollar, indicating a growing down-slope trend; the exchange rate of the pound is about 1% higher than the fair value. So as euro bottom out against the pound near 0.8280 level,it is believed that the currency pair will start a strong rebound and eventually rise in the future. EUR/GBP daily pivot points 0.8440-0.8474 S1 0.8405 R1 0.8543 S2 0.8319 R2 0.8595
  18. https://jump.wikifx.com/83348CF26389B46D Broker: MGK GLOBAL Address: Block A, Lot 5, 2nd Floor, Lazenda Phase 3 Shophouse, Off Jalan OK Abdullah, 87000 Labuan F.T, Malaysia Conclusion: the broker’s office is not at the registered address Last year, Japanese Kanto Finance Bureau issued a warning against MGK Global Limited, an unauthorized broker in Labuan F.T, Malaysia that operates brands including MGK GLOBAL and MGK.GLOBAL. Recently, investor reported MGK GLOBAL to WikiFX as a fishy forex broker because the information on its website was quite incomplete and the contact number remained unavailable. On MGK GLOBAL’s website, the broker claimed that it is regulated by the Labuan Financial Services Authority in Malaysia. Is it a lie? In order to guard the safety of investors’ funds and help investors avoid investment risks, WikiFX team decided to visit MGK Global’s licensed branch in Malaysia. [On-the-spot investigation] WikiFX team spent much time and efforts to locate MGK GLOBAL according to the address on its official website. The exterior of this small and old building indicated this place was out of repair and likely deserted. Walking into the building, WikiFX team noticed that there’s no floor directory on the wall, only the signs of two other companies. After a comprehensive search, WikiFX team found nothing related to MGK GLOBAL but a locked door on the 2nd floor. As no one answered when we knocked on the door, we concluded that no one was working there. [Conclusion] Per investigation, MGK GLOBAL’s office is not at the registered address. According to the WikiFX App, MGK GLOBAL is only rated 1.30, and the LFSA regulatory license it claimed to hold is a suspected clone. It has been confirmed that MGK GLOBAL currently has no valid regulation. Please stay away from this broker, lest you lose your money to it!
  19. https://jump.wikifx.com/83348CF26389B46D Canada’s Prime Minister Trudeau’s fiscal deficit policy announced on Monday could put pressure on the Bank of Canada to act amid a weak economy. Data shows that Canada will have a C$ 26.6 billion deficit this year, and next year's deficit may reach C$ 28.1 billion, which is higher than the level outlined in the spring budget. Since higher deficits are partly due to changes of pension calculation method rather than actual stimulus, the result may be a heavier burden on the central bank. If the federal government cannot provide more financial support, the central bank’s responsibility will be even heavier then if the economy softens more than expected in 2020. We expect the Bank of Canada to postpone the rate cut until the second quarter of 2020. The Bank of Canada held interest rate in early December, and the interest rate remained unchanged throughout 2019, while 40 other central banks, including the US Federal Reserve, chose to cut interest rates. Sluggish economic trend will test the Bank of Canada's patience and will possibly trigger a rate cut in the second quarter of next year. USD/CAD daily pivot points 1.3150--1.3154 S1 1.3118 R1 1.3189 S2 1.3081 R2 1.3223
  20. https://jump.wikifx.com/83348CF26389B46D According to CFTC’s data, the decreasing trend of USD long positions continues as speculators cut their holdings by 1,616 lots. The long position has been falling for 10 straight weeks. Meanwhile, long positions in crude oil went up to the highest in 32 weeks. As of the week ending on December 10th, speculative net long positions for USDX noncommercial futures dropped 1,616 to 22,200 lots. Over the past 10 weeks, speculators lowered their bets on a bearish US dollar to a record-low level since July, 2018. Large speculators still have difficulty grasping the trend of gold. Long positions in gold dropped 3 times in the the past 5 weeks, and has witnessed this week the largest decline in nearly eight weeks. Nonetheless, net long positions in gold futures have remained above 250,000 lots over the past 21 weeks.
  21. https://jump.wikifx.com/83348CF26389B46D Exposed broker: Topgrowth Futures Visited on: November 22nd, 2019 Conclusion: the broker truly exists On-the-spot investigation According to regulatory information, Topgrowth Futures’s office is located at Sahid Sudirman Center LT. 40 Jl. Jend. Sudirman Kav. 86 Jakarta, and WikiFX recently visited the broker at the location. We drove to Jl. Jend. Sudirman Kav, one of the busiest business area in Jakarta and soon found the directory sign to Sahid Sudirman Center outside a white building. We followed the sign to the office building and took the elevator to Sahid Sudirman Center LT. 40 that we set out to visit. There we saw the striking logo of Topgrowth Futures at its neat and posh reception. We explained our intention to the company staff, and learned that there were about 20 staff members working in the office. We thus confirm through investigation that Topgrowth Futures' office really exists in Indonesia. Analysis The financial market that continues to grow in recent years is gaining wider reach and influence, while the Southeast Asian market after decades of rapid development is eventually shifting its focus to providing financial services, thus accommodating for the expansion of the financial market. With several hundred million of population, Indonesia also successfully seized this opportunity, but the weak financial regulation is still a problem that local authorities and brokers need to solve urgently. According to its official website, the surveyed broker Topgrowth Futures was established in 2003 and has now grown into the best and largest futures brokerage company in Indonesia, providing services in forex, indices and commodity trading. Regulated by BAPEBBTI, the broker is also official member of JFX (Jakarta Futures Exchange), ICDX (Indonesia Commodities and Derivatives Exchange) and KBI(Indonesia Derivatives Clearing House). Per investigation, Topgrowth Futures holds retail forex license from BAPPEBTI and is qualified for forex business. Conclusion WikiFX App shows Topgrowth Futures to be under regulation with retail forex licenses from BAPPEBTI. The company has been in business for less than a year with a WikiFX rating of 5.97, suggesting fairly acceptable credibility. Nonetheless, investors need to pay close attention to asset safety during your investment.
  22. https://jump.wikifx.com/83348CF26389B46D As there has been news that the U.S.-China trade negotiators had nearly finalized the terms for the first phase of the agreement, the bearish outlook drove offshore RMB up by more than 1100 basis points;USD/CNH exchange rate dropped below 7 and approached 6.9. Finally CNH closed at 6.9308 yuan against USD, up by 993 basis points, or an 1.4% increase. US President Donald Trump has approved the first phase of the US-China trade agreement, and also postponed a new round of tariff raise on China on December 15th. The first phase of the US-China trade agreement includes China's commitment to purchase more US agricultural produce. In addition, the US government is also discussing reducing existing tariffs on China. The Australian dollar exchange rate surged on Friday during the Asian morning session. AUD/JPY continues to rise above the 200-day moving average and the long-term resistance line. It is expected that the pair will continue to rise to test the resistance at 77.
  23. https://jump.wikifx.com/83348CF26389B46D The Hong Kong dollar exchange suddenly registered the largest increase in four months overnight. The Hong Kong dollar rose to a strong side Convertibility Undertaking (CU) range as the currency surged to above 7.8 against the US dollar, the greatest surge since August. Traders pointed out that cash supply is expected to be tight in the next few days because banks are hoarding funds for regulatory review at the end of the year. The huge spread between the HKD and USD may force speculators to abandon bearish bets. Traders may close positions early. Usually it is more difficult to find counterparties to close positions in the holiday season at the end of the year, especially short positions of Hong Kong dollars; the current one-month Hibor in HKD is 73 basis points higher than the USD interbank borrowing rate of the same term. The situation was the other way around at this time last year, when Hibor was lower than Libor. This had allowed traders who borrowed HKD and bought USD -denominated assets made considerable profits, and may have offset the potential impact of cash demand at the end of the year. DBS Bank said that some financial institutions may sell their forex positions to buy Hong Kong dollars because Hibor has been high for some time and they need cash to meet end-of-the-year demand .
  24. https://jump.wikifx.com/83348CF26389B46D November’s US Nonfarm Payrolls released on December 6th (EST) sits at 266k, much higher than expected, and unemployment rate dropped from 3.6% to 3.5%, the lowest in nearly a decade. A robust job market seems to indicate a rally in US economy, which kindled market discussion about the US Federal Reserve’s future monetary policy. Usually, the NFP of December’s first Friday is considered to non-officially wrap up the year, but this year seems like an exception. UK’s general election that will soon take place is definitely a spotlight event. Public opinion poll shows that the Conservative Party, despite its falling support rate, is still ahead of the Labour Party by double-digits. But some also note that the situation resembles that in 2017 when many expected the Tories to win a majority. Currently, the sterling has surged to a record high in 7 months against both US dollar and euro as the market anticipates the Brexit outcome and leaves the market vulnerable to a "buy the rumor, sell the fact" type of activity. The upcoming election will definitely lead to great volatility of the GBP, drawing much attention from the market. Another big news likely to affect the forex market is President Trump’s decision on tariffs. China-US trade war has lasted for over a year, with ongoing negotiations between the 2 countries. President Trump had previously announced an additional 15% tariff on approximately US$1.6 trillion of imports from China, including many consumer goods. But given that the US had postponed tariff raise twice before, and President Trump also sounded rather upbeat in his recent remarks, implementation of the tariff will likely be put off again. For investors, this indicates a truce, which they definitely wish to see last longer. If the US insist on raising the tariffs, the stock market and risk assets could plunge while the yuan would likely weaken in a knee-jerk fashion. China will have to react and increase its tariffs as well. The falling demand due to less competitive exports, combined with rising import costs brought by the new tariffs, will deal a new blow on the economy. In addition, the newly elected ECB President Christine Lagarde will soon host her first monetary policy meeting as head of the EU central bank. Although there aren’t much big changes expected from the ECB, the market still look forward to any decisions from the meeting that may signal the bank’s future policies. Although it’s near the end of the year, the forex market remains subject to the influence of many major events. And as a leading forex media, WikiFX continues to present market news and analysis for investors. You may also visit WikiFX website, App or Facebook page to view more information.
  25. https://jump.wikifx.com/83348CF26389B46D According to the latest MRP poll conducted by YouGov, the ruling Conservative Party can secure 339 seats, while the opposition Labour Party can win 231 seats in general election on December 12th. The market estimates a narrowing of Conservative Party’s lead over the Labour Party. For the Tories, the greatest weakness is years of tight monetary policy, including inadequate investment in public health and the police sector, had led to social issues such as poor public security and difficulty in accessing medical services which the public felt increasingly upset about. Statistics from Britain showed that industrial output didn’t look encouraging, while October’s GDP is below estimation. The UK’s general election this Thursday will cause great volatility in the pound. Technically, there are signs that the GBP may be overbought. Daily pivot points for GBP/USD: 1.3134---1.3160 S1: 1.3080 R1: 1.3189 S2: 1.3038 R2: 1.3256