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Found 157 results

  1. 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.
  2. 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.
  3. 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
  4. 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.
  5. 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.
  6. 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.
  7. 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
  8. 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!
  9. 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
  10. 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.
  11. 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.
  12. 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.
  13. 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 .
  14. 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.
  15. 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
  16. 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.
  17. 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
  18. 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
  19. 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.
  20. 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
  21. 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
  22. 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.
  23. 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.
  24. 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.
  25. 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.
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