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The FxPro Analyst Team

Forex: US Economy Growing Slightly Faster Than Forecast

Data released on Thursday indicated that the US economy grew at a faster pace in Q2 than expected. The US Commerce Department released data showing that Gross Domestic Product increased at a 3.1% annual rate in the April-June period. This is a slight revision from the 3% growth rate reported in August. Harvey and Irma are likely to restrain early Q4 growth but, as the rebuilding process quickens, growth is likely to increase as Q4 ends. The US Labour Market remains strong even with the release ...

The FxPro Analyst Team

Forex: New Fiscal Year Could See Changes in Last Year’s Trends

With many countries entering a new fiscal year in October, many investors are summarising this past year’s portfolio performance while setting new goals. Let’s take a brief look at the asset classes and trading instruments that have made headlines during these past twelve months. The rise in value of Cryptocurrencies has attracted many investors during the past financial year. The two largest cryptos, Bitcoin & Ethereum, have seen their value multiply significantly throughout the year and new ...

The FxPro Analyst Team

Forex: US & UK Rate Hikes Likely

The US economy’s strength was underlined on Thursday with the release of US Durable Goods Orders for August that beat all estimates coming in at 1.7%. Markets had been expecting an improvement from the previous release of -6.8% to 1%. The strong release also negated the effects of the recent Hurricanes, which were expected to drag on Q2 growth. In addition, Core capital goods orders surged 3.3% year-on-year. With signs of increased business spending, the likelihood of a December rate hike ...

The FxPro Analyst Team

Forex: Harvey & Irma Effects Still Evident

The effects of Hurricanes Harvey and Irma are still impacting US economic growth as evidenced by Tuesday’s Conference board data release. Confidence dropped from 120.4 in August to 119.8 in September, with confidence “decreased considerably” in the ravaged states of Texas and Florida. In a separate report, the US Commerce Department released data that showed new home sales had decreased 3.4% to a seasonally adjusted rate of 560K units last month – the lowest level since December of last year. ...

The FxPro Analyst Team

Forex: Risk-On or Risk-Off?

The rhetoric continues between North Korea and the United States with North Korea’s Foreign Minister, Ri Yong Ho, describing President Trump’s recent comments as “tantamount to a declaration of war” and even stating that Pyongyang reserved the right to take countermeasures that could include shooting down US bombers that are not inside Korea’s air space. The White House was quick to deny such claims and Trump’s Security Advisor has commented that the US has 4 or 5 different scenarios as to a ...

FxProUpdates

[Update] FxPro Trading Conditions Return to Normal

We would like to inform you that the trading conditions on all instruments across our platforms have returned to normal. The trading conditions on several instruments had been modified prior to the German Federal Election and in anticipation of abnormal market volatility. We shall be informing you in advance, should any further changes take place.

The FxPro Analyst Team

Forex: German & New Zealand Elections, Japan next?

The results of the German Election have re-elected Chancellor Angela Merkel for a fourth term. Her CDU party won fewer votes than was expected and Chancellor Merkel commented that “the CDU would have hoped for better result, but we mustn’t forget – looking back at an extraordinary challenge – that we nevertheless achieved our strategic objectives: we are the strongest party. We have mandate to form the new government and we will form the new government.” Chancellor Merkel will now be tasked ...

The FxPro Analyst Team

Forex: A Brief Look at Gold

Gold has made significant gains throughout 2017 along with several retracements. The rally that started in July has encountered a significant correction in September. This recent correction comes after the market began to show less concern over North Korean/U.S. tensions, with investors "abandoning" the safe-haven as risk-on sentiment returned. The Fed’s hawkish position has also helped put more pressure on Gold with the break of $1,300. Gold has now settled back towards the 50-day moving ...

The FxPro Analyst Team

Forex: War of Words Escalates

It did not take long for North Korea to react to President Trump’s recent address to the United Nations General Assembly. Kim Jong-un had responded with a personal statement where he said he was considering retaliating at the “highest level” following Trump’s warning that the US would “totally destroy North Korea” if Washington was forced to defend itself or its allies. This comment was subsequently followed up by comments from North Korea’s Foreign Minister, Ri Yong-ho, who said “Pyongyang ...