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The FxPro Analyst Team

Forex: Another Political Headache for Trump

USD gave up some of its recent gains on news that investigators had charged President Trump’s former campaign manager regarding the investigation of Russian interference in last year’s US Presidential Campaign. Trump’s former campaign manager Paul Manafort and another aide, Rick Gates, were both charged with money laundering on Monday. It was also announced on Monday that Former Trump advisor, George Papadopoulos, pleaded guilty in early October to lying to the FBI. The indictment of Manafort ...

The FxPro Analyst Team

Forex: Strong US Q3 GDP Boosts USD

The US Commerce Department released Q3 GDP data on Friday, showing the US economy expanded at an annual pace of 3%. With the back-to-back Hurricanes during the quarter many had expected Q3 GDP to be lower than the previous, robust, release of 3.1% - consensus forecasts had called for a release of 2.5%. The effects of the Hurricanes appear to have been smaller and less impactful on economic growth than had been previously expected. However, much can be attributed to the disruptions caused by ...

The FxPro Analyst Team

Forex: Eurozone Interest Rates to Increase In 2019?

The Thursday meeting of the European Central Bank kept Eurozone interest rates at record low levels, but finally, announced the long-awaited reduction in quantitative easing. The ECB announced that it will halve its current bond purchase program from EUR 60bn to EUR 30bn a month beginning in January. The markets were expecting such an announcement as recent data shows strong Eurozone growth in the second half of 2017. ECB President Draghi stated “Our program is flexible enough that we can ...

The FxPro Analyst Team

Forex: Bitcoin Hard Fork Cools Down Investor Demand

A few days ago, Bitcoin underwent another hard fork which resulted in the creation of Bitcoin Gold (BTG). Investors had high hopes for this new cryptocurrency, as community support and exchanges seemed to guarantee receipt of equal amounts of BTG. For this same reason, Bitcoin attracted high demand from investors of all levels, pushing the cryptocurrency above $6,170. Bitcoin price shortly fell to $5,470, now recovering at $5,939, with the former price now emerging as having been a good ...

FxProUpdates

Trading Hours to be Affected by End of Daylight Saving Time

On Sunday, October 29, 2017, Daylight Saving Time will end in Europe. As a result, the opening and closing times of specific markets will be affected until the ending of Daylight Saving Time in the US on Sunday, November 5, 2017. A list of the affected financial instruments can be seen below. Trading Times Between 29/10/17 and 05/11/17 CFDs on FOREX Market Opening at 00:00 (Monday, 30/10/2017)Early Closing at 23:00 (Friday, 03/11/2017) USDRUB & EURRUB Opening time will be 10:00 and Closing time ...

The FxPro Analyst Team

Forex: Strong Economic Data from The UK & US

On Wednesday, the UK Office for National Statistics released Gross Domestic Product, that beat expectations, coming in with growth of 0.4% in Q3. Improving by 0.1% on the previous quarter of 0.3%, UK Chancellor Phillip Hammond commented that it showed a "resilient economy which is supporting a record number of people in employment". The mainstay of the UK, the services sector, which accounts for nearly 80% of economic growth, grew by 0.4% as it did in the previous quarter. Industrial ...

The FxPro Analyst Team

Forex: Next Fed Chair: John Taylor?

USD is trading close to a 3-month high against JPY on Wednesday, as rumors circulate that many Republican Senators are favoring John Taylor to become the next Chair of the Federal Reserve. Trump hosted a lunch with Republican Senators on Tuesday to gather their views on their preference for the next Fed Chief. Apparently, Trump conducted a “straw poll” amongst the attendees as to who is their preference between current Fed Governor Jerome Powell or Stanford University economist John Taylor for ...

The FxPro Analyst Team

Forex: So, Who Will Be the Next Fed Chair?

The markets are turning their attention to who will become the next Chairperson of the Federal Reserve. President Trump recently commented that he is “very, very close” to deciding who will take the position after interviewing 5 candidates. The 5 shortlisted candidates are current Fed Chair Janet Yellen, who has held the position for the past 4 years, she holds a PhD in economics from Yale and has held numerous “Fed” roles, Kevin Warsh a Harvard Law graduate, financier and former governor of ...

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 Japanese General Election and in anticipation of abnormal market volatility. We shall be informing you in advance, should any further changes take place.