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  1. 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
  2. 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.
  3. 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.
  4. 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.
  5. 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 .
  6. 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.
  7. 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
  8. https://jump.wikifx.com/83348CF26389B46D [Previous on-the-spot investigation] Last time, we visited UOB Branch in Malaysia. It turned out that the location of its Malaysian licensed office corresponds to the regulatory information. The company is in business under the regulation of LFSA. As an “eye” of global investors, we conduct spot checks on forex brokers and present all the info on the WikiFX app to better serve forex investors, helping them find the reliable forex brokers while keeping them away from illegal ones. Today, we're visiting DBS in Malaysia. [Forex Broker Profile] Corporate name: DBS Registered country: China Address: level 10(A), Main Office Tower, Financial Park Complex, Jalan Merdeka, 87000 Labuan F.T., Malaysia. [Forex Broker Highlights] - “World’s Best Digital Bank in 2018” award--by Euromoney - “Safest Bank in Asia” award for ten consecutive years--by Global Finance - The bank's "AA-" and "Aa1" credit ratings are among the highest in the Asia Pacific. [On-the-spot investigation] According to the regulatory address, WikiFX team came to the Financial Park Complex. According to the local people, it is the largest business complex in the Federal Territory of Labuan, covering approximately 12 acres. After entering the building, we filled out the visitor registration form, followed the directory and successfully found DBS’ Malaysian branch on the 10th floor. Through the glass door, we could see a neat and posh office with around 10 cubicles. [Summary] From this visit, we confirm that the address of DBS is consistent with its regulatory address and the company is in business normally. [Conclusion] WikiFX App indicates that DBS is rated at 8.60 and holds two MM licenses issued by LFSA and FCA, currently in valid regulation. Investors can choose this forex broker safely. Up till now, we have visited hundreds of brokers, many of which are presented in multiple angles with the help of VR technology. Apart from that, we have archived over 14,000 brokers on the WikiFX App, offering tremendous forex information for investors.
  9. https://jump.wikifx.com/83348CF26389B46D Investors may worry that Japan’s fiscal stimulus will stir up the securities market, but the Japanese government apparently knows what its doing in financing. The Japanese Ministry of Finance has been conducting such massive refinancing scheme in recent years that it is 52 trillion yen (US$480 billion) above the required level in this fiscal year, which can greatly ease apprehension arose from the 26-trillion-yen stimulus plan announced by Shinzo Abe last week. Although Japan will not stop refinancing matured bonds, leveraging the part of fund collected through bonds will allow the Japanese government to better plan the bond- issuing during stimulus scheme to avoid bad timing on the market. However, the Japanese government has not made clear how it will finance the extra budget. "From the perspective of debt management and effective use of treasury funds, it is reasonable to prevent the increase in market issuance through refinancing bonds," said Naomi Muguruma, senior market economist at Mitsubishi UF Morgan Stanley Securities. USD/JPY daily pivot points: 108.56 S1: 108.43 R1: 108.69 S2: 108.31 R2: 108.81
  10. https://jump.wikifx.com/83348CF26389B46D A positive outlook that the conservative party will likely win the majority in next week’s election has propped up the pound sterling in a longest surge since this June. Yet according to indicators reflecting investors’ preference and positions, option traders’ expectation for a bearish pound reached its highest in the past 8 months. Professional traders are weighing between 2 factors: confidence about PM Boris Johnson’ victory and doubt about the opinion poll’s outcome. History shows that public opinion polls have failed to forecast the result of Brexit vote and the conservatives’ lost of majority of seats in the 2017 election. Compared with the Labour party that promises about nationalization scheme and economic reform, investors that long the GDP prefer the Conservatives to win and push forward the Brexit negotiation, as well as carry out market-friendly policies. As the election voting day draws near, investors are using the relatively cheaper USD call option to hedge off the risks. The skyrocketed pound hedging cost reflects people’s concern about the election outcome has persisted. For traders, the hedging cost in the upcoming 2 weeks is 25% higher than that 2 weeks before the election in June, 2017. The pound is surging so fast that MTM index suggests the currency is overbought. GBP/USD daily pivot points: 1.3133---1.3149 S1: 1.3118 R1: 1.3180 S2: 1.3079 R2: 1.3203
  11. https://jump.wikifx.com/83348CF26389B46D Thanks to incredibly low interest rates, corporate debts in the US has surged to an unprecedented scale in the past decade. This facade of huge “financial boom” faces equal risk of crumpling down. Large companies across the US are striving to tackle high debts, while the default rate is estimated to reach a record level since 2008. A severe corporate debt crisis looms on the horizon. The debts of listed companies have totaled nearly US$10 trillion, which is equivellance to 47% of the country’s GDP. The extremely low interest rate in the past 10 years enabled companies to sell a record amount of bonds to investors, and corporate debts reached a historical high of nearly US$10 trillion, which is 47% of the country’s overall economy. In recent weeks, US Federal Reserve and IMF both issued warning about growing corporate debts. 10 trillion is in fact a conservative estimation, as the actual figure of corporate debt tend to be much higher, if taking into account of the additional US$5.5 trillion debts from those small-and-medium-size enterprises, family businesses and other companies that are not listed at the stock exchanges. In other words, US corporate debts now sit at US$15.5 trillion, or 74% of US GDP. Such a high level of debt, with little doubt, is unsustainable. Besides the pressing corporate debt crisis, debts from US consumers are as high as US$14 trillion, while state and local governments’ debts also reached a record level. It’s likely that the country will face a huge wave of borrowers default in the future.
  12. https://jump.wikifx.com/83348CF26389B46D Broker: LongAsia Visited on: October 26th, 2019 Conclusion: broker truly exists. On-the-spot investigation Regulatory information suggests LongAsia’s office is at 1 Kim Seng Promenade 15-02 Great World City East Tower, and WikiFX recently visited the broker at the site. Following the GPS direction, we arrived at City East Tower, an office building integrated with a shopping center located outside Singapore’s main financial district. We took the elevator to level 15 and immediately saw LongAsia’s name on the floor directory. We entered the office and saw the striking logo of the company on the wall, while the staff carried on their due business in an orderly manner. The office wasn’t very large, with around 20 cubicles inside. We thus confirm through investigation that LongAsia’s office really exists in Singapore. Analysis WikiFX’s on-spot investigation series in Singapore have almost completed, and the financial regulation of Singapore has left us with a deep impression. However, it turns out that LongAsia we visited this time has been rather disappointing broker. According to the official website, LongAsia is a trans-regional company engaged in a variety of businesses, offering global clients a wide range of services such as securities and futures, foreign exchange, assets management and liquidity clearing through its branches. Per checking regulatory information, LongAsia’s retail forex brokerage license from MAS(Singapore) is valid and the broker is authorized in its business. But according to information from other regulatory authorities, the FPSR(New Zealand)’s financial service license it holds isn’t qualified for forex brokerage, while its common financial service license from HKSFC(Hong Kong) is suspected to be a cloned one. Conclusion WikiFX App shows LongAsia to be under regulation, as both of its retail forex licenses from MAS(Singapore) and ICDX(Indonesia) are valid. However, the rest of LongAsia’s licenses are more or less problematic. The broker is rated at 6.09 on WikiFX App, suggesting acceptable credibility, but as LongAsia has been heavily complained by investors recently, WikiFX suggests investors to stay alert if you have chosen this broker, and beware of the risks during investment.
  13. https://jump.wikifx.com/83348CF26389B46D According to the latest report from Reserve Bank of Australia(RBA), Australia’s annual GDP growth rate in the third quarter sits at 1.7%, in line with market expectation. RBA decided on Tuesday’s meeting to hold interest rate at 0.75% in December. Stating that rate cuts help support employment and wage growth, the central bank decided to keep interest rate unchanged in order to wait and assess the effectiveness of its policies, while emphasizing they’ll implement easing measures to sustain economic growth when necessary. According to RBA, the uncertainty in domestic economy mainly comes from consumption, as weakening household income weigh down on spending. Looking ahead, RBA thinks that the Australian economy is coming to a mild turning point, The economy will eventually pick up speed and is expected to register a 3% growth by 2021. In terms of the employment market, RBA estimates the jobless rate to be under 5% in 2020 and 2021; meanwhile, inflation is expected to steadily increase to near 2% in the next 2 years. Overall, the decision of RBA looks rather hawkish and signals a rally of the Australian dollar in the future. AUD/USD daily pivot points: 0.6838---0.6844 S1 0.6821 R1 0.6869 S2 0.6794 R2 0.6888
  14. https://jump.wikifx.com/83348CF26389B46D German’s coalition government led by Chancellor Angela Merkel faces an unprecedented challenge after last weekend, when its major ally Social Democratic Party of Germany(SPD)replaced the Vice Chancellor and Finance Minister with 2 left-wing new party leaders in a leadership election. Both of them have shown strong disapproval of the coalition between SPD and Merkel’s conservative party, and their victory may place Germany at the crossroads of political uncertainties. As the SPD will be holding its party conference in a few days to decide on many fundamental issues, German press worry that the coalition government faces significant challenges in the future. If the SPD withdraws from the coalition, Merkel’s CDU(Christian Democratic Union) won’t be able to secure half of the parliament seats, which may lead to a minority government in Germany, or even trigger early elections. From the long run, the result of SPD election last weekend may be a negative factor for the euro, and we remain cautious about euro’s market trend in the future. EUR/USD daily pivot points: 1.1045--1.1065 S1 1.1021 R1 1.1108 S2 1.0968 R2 1.1142
  15. https://jump.wikifx.com/83348CF26389B46D In speaking of investment, broker scams in forex trading seem to be a recurring theme. As with many industries, the fast growing forex industry also has plenty of predators, who look to take advantage of newcomers. The following story is shared by SaFWat, an investor who sought WikiFX’s help after being defrauded by TurboForex. He reported the illegal broker to warn other investors against it. Complainant: SaFWat (Cairo,Egypt) Illegal Broker: TurboForex Website: www.turboforex.com Account balance: USD 3,000 Withdrawal status: in process Customer service: unavailable Beware of TurboForex! I have been a customer of this forex broker since last May and have deposited US$2,000 in my account. At first, I received US$1,000 bonus from TurboForex WITHIN 24 HOURS! That’s pretty weird because I just started funding my account, but I thought I was lucky then (I must admit that I was a newbie and I entered a field that I knew little about). After around half a year, I decided to withdraw my money but only to find that my request was rejected. I was told by the customer service that CashU can only be used for deposits, not withdrawals. So I switched to another withdrawal option (they only support VISA or MasterCard), but AGAIN I was turned down! I kept on contacting the broker by e-mail and chat and sent the correct bank information every time but I got NO RESPONSE. I had made over 10 attempts to withdraw without any luck...the broker refused to pay out my money and might have escaped! Many investors may ask, “It looks like the broker’s offer can bring me big profits, but it may also be a way to trick me into making deposits, so how can I know whether my broker is a compliant one or not? And how should I avoid being scammed?” The first step doing a thorough research. That means checking a broker’s profile in detail, such as location of the broker's headquarter, how long it has been in business, its regulatory status and customer feedback. Make sure you don’t miss anything suspicious. If you feel you are being scammed, contact us for assistance to recover your money. You can also download “WikiFX App”, a broker inquiry app, at Google play or apple store.
  16. https://jump.wikifx.com/83348CF26389B46D Historical data suggests that December, the last trading month of the year, tends to be the best time for US stocks. Last year, due to negative factors such as prospect of Fed’s interest increase, the market has witnessed some significant downdrafts due to investors’ panic. As the global economic outlook eventually improves, ICI(The Investment Company Institute) statistics showed stock funds registered over US$8.2 billion of inflow past 2 weeks, curbing the constant outflow since this September. However, the market still faces many uncertainties at the end of the year. The Fed’s market interventions is showing its significant impact on the stock market.Though FOMC, after 3 consecutive rate cuts, has shown signs of holding interest rate unchanged, the market has been revived by the liquidity injection and bond repurchase program of the overnight repo market. Debt of the Fed has increased nearly US$330 billion since early September to US$4.1 trillion. Liquidity is boosting the bond market, making it easier for companies to borrow cash that can be used for stock repurchases, which helps to increase demand for stocks. In addition, lower US bond yields also make US stocks more attractive. The Fed's bond purchase scheme plays an indispensable role for promoting a relaxed financial environment and supporting asset prices.
  17. https://jump.wikifx.com/83348CF26389B46D Near the end of 2019, investors all wish to see their trading go smoothly and wrap up the year in a satisfactory way, yet the illegal brokers are always trying to mess up with investors’ plans. By reviewing the recent investor complaints against illegal brokers, WikiFX made a list of the most-complained brokers in November. PTFX which topped the list has drawn much attention, while other heavily-condemned brokers on the list are equally worth-noting. Here’s the list of most-complained brokers in November. PTFX has been in the spotlight frequently this month. Many investors have complained against the broker in succession for withdrawal failure within a short period, while the customer service offered excuses rather than solution, indicating that the broker is blocking withdrawal on a large scale. Moreover, PTFX claimed on the official website that it has acquired IGM Forex, a Cyprus forex broker just lifted out of suspension, and successfully renewed its media exposure, while continuing to lure investors with new tricks such as “high bonuses” or “professional traders team”. Undoubtedly, the ultimate goal of PTFX is to swindle investors’ assets, yet many introduce brokers of PTFX are still trying to advertise for it. According to WikiFX App, PTFX is rated at only 1.56 and has been labeled as illegal broker. Please stay away from it. Shi Jin Investment which ranked second on the list is another scam broker frequently complained by investors recently. According to the investors, the platform first brainwashed them with the so-called "signal providers" , and then blocked their accounts and rejected withdrawals. Through its marketing campaigns, the broker had attracted a considerable group of investors earlier on, which partly accounted for the recent outbreak of complaints against Shi Jin Investment on such a large scale. WikiFX found that the dealer has no valid regulation and has been in business for less than one year. When choosing a broker, investors must pay close attention to its regulation, as well as other information. In addition, investors also need to watch out for KP, a broker with suspected cloned-license, and IC Markets, heavily complained by investors, both of which frequently appear on the most-complained list. Other heavily complained brokers on the list include FXGM, GPAK, Stone Lion, Doo Prime, PGWG and Csgold. The forex market in 2019 is still full of twists and turns, while the illegal brokers never stop their evil steps. WikiFX remains committed to exposing the unscrupulous practices of illegal brokers, and strives to create a safer forex investment environment through joint efforts with investors. You can learn more about the compliance and other information of brokers thoroughly by downloading WikiFX App, and if you notice any irregularity of a broker during your investment, you may post it in WikiFX App’s exposure column to warn more investors against it.
  18. https://jump.wikifx.com/83348CF26389B46D The US dollar index(USDX) is a major indicator for measuring currency movements and strength. Based on the performance of USDX before and after the seven major U.S. holidays (New Year, Easter, Memorial Day, National Day, Labor Day, Thanksgiving and Christmas) from 2007 to 2018, the National Day is the holiday when the U.S. dollar index has the best performance (after July 4), followed by Thanksgiving. Statistic shows that from 2007 to 2018, US dollar index rose after Thanksgiving in 7 years and dropped in 4 years, which is a rather impressive performance.
  19. Broker:Kresna Futures Visited on: October 21th, 2019 Conclusion: broker truly exists. On-the-spot investigation Regulatory information suggests the office of Kresna Futures in Indonesia is at Kingland Tower, 2nd Floor 18 Parc SCBD Jl. Jend. Sudirman Kav. 52-53 Jakarta Pusat, and WikiFX recently visited the broker at the site. Following the regulatory information, WikiFX team drove to Kingland Tower and immediately saw the striking sign of Kresna outside the building. We entered the building and easily found Kresna Futures’ office, and noticed a huge screen at the reception that showed live market data. Through brief communication with the staff of the company, we learned that Kresna Futures takes up the entire second floor, with around 50 cubicles inside the office. We thus confirm through investigation that Kresna Futures’ office really exists in Indonesia. Analysis With a population of 200 million, Indonesia has a booming forex industry and is gaining more visibility on the global financial market in recent years. And on this trip as part of WikiFX’s serial broker visits in Indonesia, we continue to bring you more information of local brokers. According to its official website, Kresna Futures (fully known as PT Kresna Investa Futures) is a branch of Kresna Corporation, a leading commercial investment firm in Indonesia. As a member of the Jakarta Futures Exchange and Clearing House Indonesia, Kresna Futures provides both local and international investors online access to futures trading, including alternative trading system ( SPA ) and primary commodities (multilateral), as well as other financial services on local commodity market, forex market and global stock indices market. Per investigation, the broker holds a valid retail forex license from BAPPEBTI. Its regulatory information is authentic and Kresna Futures is qualified for conducting forex brokerage business. Conclusion WikiFX App shows that Kresna Futures is under valid regulation with a retail forex license from BAPPEPTI. The broker’s WikiFX rating is 6.28, suggesting acceptable credibility on the growing Indonesian forex market. Nonetheless, investors need to pay close attention to asset safety during your investment.
  20. https://jump.wikifx.com/83348CF26389B46D Japan’s retail sales in October saw the greatest decline in four-and-a-half years, while falling consumer spending due to increased consumption taxes flashed a warning signal for weakening domestic demand. The Japanese government has raised consumption tax from 8% to 10% since October 1st in hope of alleviating the country’s heavy debt from public spending. Japan faces the heaviest debt burden among industrialized countries, with a public debt more than twice its GDP. With slumping exports and production, raising consumption tax can dampen the momentum of economic growth. Demand for clothing and big ticket items such as automobiles and large home appliances has weakened, with sales in department stores falling significantly.This has been the greatest drop since March, 2015, when the sales was down 9.7%. Statistics from earlier this month showed that Japan’s economic growth in Q3 has been the slowest in the year, while October’s exports saw the greatest decline in 3 years. US dollar has risen 0.45% against the yen to 109.54. The trend has been strong for the 6th trading day in a row, overtaking the high point of 109.49 earlier this month and reaching a new height since May 31st. On the other hand, the yen has experienced the longest downslope trend since May, 2018. USD/JPY daily pivot points 109.32---109.44 S1: 109.16 R1: 109.73 S2: 108.81 R2: 109.95
  21. https://jump.wikifx.com/83348CF26389B46D Exposed broker: Kainos Regulatory status: operating under cloned license Complainant: Mr. Chen Cause of complaint: investor cannot withdraw The cunning illegal broker swindled investors by claiming that they can achieve “financial independence” under the instructions of signal providers; while investors appeared to be profiting, they actually suffered losses in trading. Recently, Mr. Chen shared his experience of being defrauded by the illegal forex broker Kainos. Event recap Mr. Chen first made acquaintance with the “signal provider” Mr. Zhang in early August this year. Coaxed by Zhang’s inciting words about “financial independence” and “the strongest team of international trading professionals”, Mr. Chen signed up at Kainos and added the signal provider recommended by Zhang to his contact. After that, Mr. Chen was hypnotized by the signal provider into stepping up his investments. According to his trading records, he was instructed by the signal provider to place orders frequently within just a few days. And although Mr. Chen appears to be profiting, the commission from his frequent transactions had outweigh his gains, rendering his account in loss overall. Realizing that something’s wrong, Mr. Chen filed 2 applications on August 13th in the afternoon to withdraw his account balance. However, his applications remained unapproved Though Mr. Chen was able to log in his account regularly, he failed to receive the money withdrawn. Analysis Worrying about not making the right decisions in their trading, many investors often turn to so-called “signal providers” for help. Yet many scammers are trying to lure investors into their traps through this self-claimed title of “signal provider”. Mr. Chen’s case is a typical example of “signal-provider scam”, in which the “investment experts” bombarded him with attractive empty promises that eventually hypnotized him. Investors need to watch out for such “experts” that approach you during the investment process. Their remarks, often exaggerative and self-contradictory, are extremely unreliable. As for Kainos, the broker claims on the official website that it holds an MM license (regulatory number: 705428) from FCA(UK); but information from FCA website shows the regulatory number belongs to Trading.com instead, and Kainos is actually operating under cloned license. Conclusion WikiFX App shows that the broker Kainos is currently operating under cloned license without valid regulation. Rated at 1.64 on WikiFX App, the broker is extremely unreliable, and WikiFX suggests investors to stay away from it.
  22. https://jump.wikifx.com/83348CF26389B46D The overnight US dollar rally has continued since last Friday. The US dollar index surged to as high as 98.33 at one point. EUR/USD fell to the 1.10 mark, while USD/JPY rose to the 109 level. These trends before the upcoming US Thanksgiving holiday this week are the results of forex positions adjustments before the end of the month. Compared with the stock market and the bond market, the readjustment of capital flows will have a stronger impact than hedging operations, so it may trigger selling of USD against EUR or GBP near the end of the month. As of November 19th, 2019, the number of speculative net long positions for the ICE USD index decreased by 3,159 to 24,62. Speculative longs decreased by 2,408 to 31,509, and speculative shorts increased by 751 to 6,884. The non- reportable long positions for US dollar increased by 29,649 to 164,004.
  23. What is binary option Binary option is one of the most common forms of option. Compared with forex trading, binary option doesn’t involve trading lots, margin or leverage. Instead of actually trading an asset, binary option investors bet on whether the price of an underlying asset will be above or below the set mark at a certain time. Binary option bears considerable risks, as its mechanism is very similar to gambling. Booming development followed by crackdown The rapid development of the internet has led to a proliferation of web-based binary option platforms, particularly after 2010. Yet among these emerging brokers, many conduct unauthorized business and make huge profits through their illicit practices. Facing with the overgrown binary option platforms, European Securities and Market Authority (ESMA) made an announcement last year, prohibiting the marketing, distribution and sale of binary options within EU boarders. As countries tighten their regulation, many binary option brokers choose to transfer their businesses to offshore companies in order to carry on their business operations. Visiting Binary.com Binary.com claims itself to be an award-winning front-runner os online binary option with a trade volume of over 2 billion USD, and WikiFX visited the company’s branch in Malaysia upon investors’ requests. We arrived at the shopping centre where Binary.com is located, and found the company’s office. However, it’s empty with no one inside, and there were few people inside the building. According to assessment data from WikiFX App, Binary.com is rated at 3.29. The broker uses non-MT4 trading software, which investors should beware of. In addition, WikiFX App’s risk warning suggests both the VESC (Vanuatu)’s license and FSC (the Virgin Islands)’s license held by the broker are in offshore regulation, while its FSA (Japan)’s license is suspected to be cloned, suggesting high risks. Investors need to be careful in choosing this broker. Choosing a compliant binary option broker Before making an investment, it’s a good idea to do a thorough research on the broker and check its information from all aspects, like its compliance and regulation, authenticity of its claimed regulatory status, whether it manages clients’ assets in segregated account and customers’ feedback on the broker. Stay tuned as we bring you more forex trading strategies (fundamental and technical analysis) and don’t miss out the great forex contents updated on WikiFX.
  24. https://jump.wikifx.com/83348CF26389B46D On November 24th, 2019, WikiEXPO successfully wrapped up at Marriott Marquis Queen’s Park Hotel in Bangkok, Thailand. With over 5,000 attendees, over 30 forex brokers and 30 well-known keynote speakers of the forex industry, the event has been a roaring success. With its constantly growing influence, WikiEXPO aspires to join hands with investors and forex professionals to create a safer forex investment environment. Bangkok is the third and last stop of WikiEXPO’s serial expositions in Asia this year. In order to offer the investors and professionals the best participating experience at the event, WikiEXPO team spends approximately 2 months preparing for every exposition. Following the last exposition in HCMC, Vietnam, WikiEXPO Bangkok was hosted at an even larger venue covering 3,000m2, in order to offer brokers, investors and other professionals a high-quality platform to share their expertise and forge business connections. Meanwhile, WikiEXPO’s collaboration with 5 prestigious local forex media groups had enabled local investors to further understand the forex market through more diversified channels. On 24th at 9am local time, attendees entered the venue after registration and the host opened the event with a splendid welcoming address. WikiEXPO understands the significance of market exposure for exhibitors and strove to provide the 30+ participating brokers more branding opportunities in the agenda and venue arrangement. As the host of the event, WikiEXPO had shown much dedication and consideration, which was evident in many details at the venue. From the posters on the pillars to logos on charging stands and drink booths, the exhibitors were given more opportunities to display their brands and logos, and investors can learn about them more directly to engage in more efficient interactions with brokers. Taking full advantage of the venue, WikiEXPO thoughtfully arranged 2 speech sections and 3 salon sections that allowed brokers’ presentations and KOL speeches to run in parallel, thus increasing time efficiency of the Exposition. Investors had more choices during the same period, while more brokers also benefited from having adequate time to introduce their brands. Guest speakers shared their expertise and insights about forex trading, market trend and global financial context through fascinating speeches, such as “Elliott Wave Made Easy”, “Money Management” and “Forex Industry Trends Nowadays”, kindling wild applause in a warm and lively atmosphere. During the event, WikiEXPO also arranged tea breaks for the participants, as well as several lucky draws that offer great prizes such as HUAWEI Mate30 Pro and Huawei P30 Pro. Investors were very pleased as they not only learned plenty about forex but also got the chance of winning exciting prizes. At 6pm, the event concluded in a warm and pleasant mood. The successfully close of the Bangkok Expo also marked a satisfactory ending of WikiEXPO’s journeys in 2019. WikiEXPO team will review the achievements in 2019 and get ready for the upcoming events next year. In the past, WikiEXPO left its trace in Kuala Lumpur, Ho Chi Minh City and Bangkok; looking ahead, WikiEXPO will continue to carve out more new frontiers and achieve even greater success.
  25. https://jump.wikifx.com/83348CF26389B46D The euro hit a 10-day low against US dollar on Monday, and investors remain cautious about the short-term economic outlook of the Eurozone. Although German business confidence improved slightly in November, the Eurozone still faces uncertainties in its economic prospects, while business growth in the region has been almost stagnant this month. European Central Bank President Lagarde and other ECB members may step up bond purchase or cut interest rates further to support the weak Eurozone economy. Taking into account the overall weakness of the Eurozone economy, the ECB is expected to reduce interest rates by another 10 basis points to -0.60% at the December policy meeting. Hedge funds are betting on the euro to fall and increased their short positions, and last week's data showed that overall net short positions increased slightly. The European Central Bank has restarted its bond purchase program and further lowered the interest rate to negative in September. However, these stimulus measures appeared to be ineffective, as the euro has dropped 1.5% this month. Economic signals are worrying and the euro remains weaken against the US dollar. EUR/USD daily pivot points: 1.1013--1.1017 S1: 1.0999 R1: 1.1027 S2: 1.0987 R2: 1.1043