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Guest Analyst - Philip Konchar, CEO, Tradercast

FxPro Forex Analysis: Thursday Morning Report – US Dollar Weakness

The USD is weaker against all the majors today, continuing the pressure from yesterday. End of year liquidity is light and many of the themes from earlier in the month are reversing. The dollar is currently at session lows with the NZDUSD seeing some of the biggest gains, up 0.47% to 0.70910. Swiss UBS Consumption Indicator (Nov) was released yesterday close to previous at 1.67, with the prior number of 1.54. Swiss ZEW Survey – Expectations (Dec) was released, coming in at 52.0. The previous ...

Guest Analyst - Philip Konchar, CEO, Tradercast

FxPro Forex Analysis: Wednesday Morning Report – WTI higher after Libya Blast

As we trade towards the final days of the year, the market is seeing lighter volume due to the shortened week. The Economic Calendar is light for the days ahead. However there are still data releases and traders are taking positions. US Oil Rig Counts from Baker Hughes was released on Friday evening. The headline number remained unchanged at 747. Natural Gas came in at 184 against the previous figure of 183. Totals were 931 against the previous 930. WTI Crude moved very little after the data ...

The FxPro Analyst Team

FxPro Forex Analysis: US economic growth remains strong

The US Commerce Department released GDP data on Thursday that showed economic activity grew lower than expected in Q3. Real GDP rose to 3.2% in the last quarter slightly lower than the previous reading of 3.3%. The Commerce Department commented that the downward revision to the pace of GDP growth primarily reflected slightly slower than previously estimated growth in consumer spending. Consumer spending climbed by 2.2% in Q3 compared to the previously reported 2.3% increase. The GDP release ...

The FxPro Analyst Team

FxPro Forex Analysis: Bitcoin One Step From Recession – Bitcoin Cash Triumphs

The pre-holiday week was marked by overall altcoin growth, with Bitcoin Cash registering significant gains for a number of reasons. Institutional investors kept away from Bitcoin’s abnormal dynamic, concentrating instead on altcoins, with Bitcoin’s market share falling dramatically below 50%. Nonetheless, Bitcoin found support at around $15,000, just a step away from bear territory, often perceived as the loss of 20% from peak. This pioneering cryptocurrency’s price fell to $16,100 yesterday, ...

The FxPro Analyst Team

FxPro Forex Analysis: US Tax Bill passes and “status-quo” for the Bank of Japan

On Wednesday, the US Senate approved the tax bill 51 for and 48 against, while the House of Representatives gave it final approval, passing it for the second time in two days after a procedural foul-up forced another vote. The bill passed the House with a vote of 224-201, with no Democrats voting for it and some Republicans members also voting no. The bill now heads to President Trump for his signature. The markets remain concerned as to how much stimulus the bill will give to an already ...

Guest Analyst - Philip Konchar, CEO, Tradercast

FxPro Forex Analysis: Wednesday Report – Tax Bill passed by Senate in quiet session

The House of Representatives voted on the Tax Bill early Tuesday local time. The Tax Bill was passed by a margin of 24 votes, with 227 Yay and 203 Nay. A procedural issue during the vote means the House has to vote on the Bill a second time, as the Bill passed by the house was in violation of Senate rules. Once these violations are amended the House will vote again, with this second vote believed to be only a formality. The Senate voted overnight and the Bill was passed by 51 to 48. The House ...

FxProUpdates

Trading Hours Affected by Upcoming Holidays

We would like to inform you that financial markets will be closed on Monday, December 25, 2017, and Monday, January 1, 2018, and all trading instruments available on our platforms will be closed for trading during these days. You can find more information on the trading times of all instruments during the upcoming holiday period in the table below: Trading Times Between Dec 22, 2017 – January 2, 2018 VIEW TRADING TIMES The times mentioned in the table above are in Server Time (GMT+2). If you ...

The FxPro Analyst Team

FxPro Forex Analysis: Altcoins In Green Zone, But Should We Expect A Correction?

Almost all of the top 100 cryptocurrencies featured on CoinMarketCap are in the “green zone”, in their majority experiencing a two-digit or even three-digit growth. QTUM, for example, a coin issued by the Quantum Foundation in Singapore that bridges Bitcoin and Ethereum protocols, jumped 66% in the last 24 hours to $69.38, with a market cap of $5.1 billion. At the same time, Bitcoin seems to have encountered strong resistance near $19,000-$20,000, with even futures launches on the CME and Cboe ...

The FxPro Analyst Team

FxPro Forex Analysis: USD “treading water”

USD is “treading water” ahead of the expected enactment of President Trump’s tax bill. The initial euphoria of lower corporation tax, that many believed would see a repatriation of USD back into the US has begun to come into doubt. With the bill likely to be passed into law before the end of the year, many believe there will be no rush for Corporations to move funds back to the US as the repatriation of foreign profits is a permanent measure that companies will avail themselves of over a ...