Category Archives: Forex For Beginners

Central Bank Testing; BTC Chart Breakout Eyed

– South African Reserve Bank looking at digital regulations; London Stock Exchange testing blockchain. – Bitcoin (BTC) looking for a breakout. Looking for fresh trading ideas? – Get your free DailyFX Third-Quarter Trading Forecast and Trading Guide here. Digital Technology Gaining Credibility as Testing Increases The South African Reserve Bank (SARB) will commence testing a number of bitcoin (BTC) and other cryptocurrencies regulations over the next few months, according to blockchain solutions provider, Bankymoon, the company’s CEO said at a recent event. The company will trial-run new […]

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LedgerX to Offer Digital Currency Derivatives

– The new platform will enable customers to trade and hedge a range of digital currencies. – Increased regulatory oversight and credibility should open up the digital space to more investors. Looking for fresh trading ideas? – Get your free DailyFX Third-Quarter Trading Forecast and Trading Guide here. LedgerX – A New Dawn for Cryptocurrency Credibility? In what many see as a ground breaking move, LedgerX, a swap execution facility (SEF), has been granted a license by the US Commodity Futures Trading Commission (CFTC) to exchange and […]

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Why Sterling Traders Should Peer Through GDP Gloom

Talking Points – UK GDP data tomorrow will likely show that economic growth remained subdued in the second quarter. – The figures will give a preliminary snapshot of how the economy performed as a general election was held and the Brexit talks began. – However, the British Pound is unlikely to be affected strongly one way or the other. If you’re interested in the long-term outlook for GBP, check out our new Trading Guide:it’s free and has been updated for the third quarter of 2017 Preliminary UK […]

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Sterling Holds Its Ground as Soft Brexit Hopes Rise

Talking Points – The British Pound is reasonably firm, albeit against a weak US Dollar, as UK government ministers continue to talk up a market-friendly soft Brexit. – That’s despite inflation and GDP data that make a tightening of UK monetary policy next week extremely unlikely. Check out our new Trading Guides: they’re free and have been updated for the third quarter of 2017 The British Pound is continuing to hold its ground, albeit against a US Dollar that has been sliding steadily throughout 2017 so far, […]

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Money Laundering, Bitcoin Forks and SEC Oversight

Talking Points – A Russian citizen has been arrested in Greece and charged with 17 counts of money laundering. – Cryptocurrency exchange warns ahead of possible bitcoin split. Check out our new Trading Guides: they’re free and have been updated for the third quarter of 2017 Digital Exchange Hit with Massive Fine Bitcoin exchange BTC-e has been handed a $110 million fine by the US Treasury’s Financial Crimes Enforcement Network (FinCEN) for “wilfully violating US anti-money laundering laws,” according to an official release Thursday. Among charges brought […]

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Bitcoin Soars Above $4,100; NEO Enters the Top Five

Talking Points – Bitcoin takes out predicted highs with ease and continues to forge ahead. – Altcoin NEO enters the top 5 with a weekly 180% rise. Check out our new Trading Guides: they’re free and have been updated for the third quarter of 2017 Bitcoin (BTC) Continues to Make Record Highs with Asia in the Driving Seat The largest digital cryptocurrency by size, Bitcoin (BTC), continues to make daily record highs as Asian investors drive the price ever higher. The currency has also benefitted from a […]

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Yuan May Suspend Rally, Eyes on PMI

Fundamental Forecast for CNH: Bearish The Chinese Yuan gained against the U.S. Dollar this week, with the USD/CNH closing below a key support level of 6.7377. On Thursday, the PBOC strengthened the Yuan fix by 222 pips to 6.7307, the strongest level since October 2016. The USD/CNH has remained in a bearish trend (bullish for the Yuan) since May, but approaches an oversold territory based on RSI. Thus, a retracement is possible in the next week. In terms of event risks, Chinese official and Caixin PMI prints […]

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WTI And Brent Crude Oil Pivots on OPEC Actions to Best Week of 2017

Fundamental Forecast for USOIL: Bullish Talking Points: Crude oil and Brent supported on further actions from OPEC to limit exports The oil supply glut continues to shrink as evidenced by the 7.2m bbl decline per the DoE Dovish Federal Reserve on Wednesday gave way to a weaker USD that helps commodities Per Baker Hughes, US Oil Rig count falls by 2 rig to 766 total active US oil rigs IGCS showing increase in retail short oil positions, contrarian view suggests prices rise further You know how in […]

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FX Markets Look to RBA & BOE Rate Decisions, US NFPs on Friday

Talking Points: – Reserve Bank of Australia and Bank of England policy meetings likely to bring a wave of volatility to AUD- and GBP-crosses, respectively, this week. – Currencies like the Japanese Yen and Swiss Franc are mostly along for the ride as they cede the spotlight to other major currencies. – The Canadian Dollar and US Dollar cap off the week both the Canadian and US labor market reports on Friday. Join me on Mondays at 7:30 EDT/11:30 GMT for the FX Week Ahead webinar, where […]

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UK Monetary Policy in Focus as Brexit Impact on GBP Fades

Talking Points – Brexit is taking a backseat to monetary policy for GBP traders this week. – While taxation and immigration post-Brexit are in the news, it’s Thursday’s Bank of England policy decisions that will determine the direction of the British Pound. Check out our new Trading Guide for GBP:it’s free and has been updated for the third quarter of 2017 For traders in the British Pound, this week is all about the Bank of England’s decisions on monetary policy Thursday rather than Brexit. The UK’s central […]

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