Currency Volatility: EURUSD Traders Eye ECB Meeting, Fed Minutes - DailyFX
Currency Volatility: EURUSD Traders Eye ECB Meeting, Fed Minutes - DailyFX |
- Currency Volatility: EURUSD Traders Eye ECB Meeting, Fed Minutes - DailyFX
- The Best Forex Brokers in France for 2019 • Benzinga - Benzinga
- Global trade tension, growth worries underpin yen; Brexit summit in focus - CNBC
- Trade War: The Currency Paralysis Will Continue Until The Negotiations Conclude - Benzinga
- Business Report: Currency exchange rates - Hawaii News Now
| Currency Volatility: EURUSD Traders Eye ECB Meeting, Fed Minutes - DailyFX Posted: 09 Apr 2019 11:42 AM PDT CURRENCY VOLATILITY: EURUSD, ECB, FED – TALKING POINTSEURUSD overnight implied volatility has soared to a one-month high ahead of key event risk posed by the ECB meeting and Fed minutes expected tomorrow. The 1-day implied volatility measure now sits at 8.39 percent which suggests a potential move of 49 pips during Wednesday's session. EURUSD IMPLIED VOLATILITY PRICE CHART: DAILY TIME FRAME (JUNE 01, 2018 TO APRIL 09, 2019) Although, overnight implied volatility remains elevated ahead of key event risk tomorrow, expected price action measures show a slow-and-steady decline overall. The waning trend is likely in response to the most liquid currency pair notching its narrowest trading range since August 2014 according to the 14-day ATR. FOREX MARKET IMPLIED VOLATILITIES AND TRADING RANGES  The ECB is expected to announce its April monetary policy update at 11:45 GMT Wednesday. Markets will likely focus on supplementary commentary from ECB President Mario Draghi, however, seeing that OIS futures are pricing a 96.7 percent chance that the ECB holds its policy interest rate at -0.40 percent. Aside from the ECB, the US is due to release its latest consumer price index which is projected to show muted signs of inflation. The headline and core CPI measures are slated to cross the wires at 12:30 GMT. If the inflation readings are reported higher than expected, the Fed could be forced to rethink its recent dovish tilt which could support the US Dollar. FOREX ECONOMIC CALENDAR – EURUSD Visit the DailyFX Economic Calendar for a comprehensive list of upcoming economic events and data releases affecting the global markets. The Federal Reserve's FOMC minutes from its March meeting is scheduled for release at 18:00 GMT and will likely cap off Wednesday's busy session for EURUSD traders. The report is expected to provide further insight on the Fed's latest dovish position following its decision to cut economic projections and plan to end balance sheet normalization. Language from Fed officials that bolsters confidence by touting a strong economic backdrop could bolster the US Dollar while a tepid stance that leaves the door open for further policy easing may put downward pressure on the USD. EURUSD PRICE CHART: DAILY TIME FRAME (FEBRUARY 04, 2019 TO APRIL 09, 2019) Spot EURUSD is trading slightly below the 1.1300 handle after rallying off support found at the 1.1200 price level. The derived trading range calculated from EURUSD overnight implied volatility sees the currency pair trading between 1.1221 and 1.1319 with a 68 percent confidence interval. However, the recent uptrend formed could provide support near the 76.4 percent Fibonacci retracement line which rests near the 1.1250 price level. Resistance posed by the 61.8 percent Fib and 100-day EMA could hinder EURUSD upside. Check out additional EURUSD technical analysis here. EURUSD TRADER CLIENT SENTIMENT Check out IG's Client Sentiment here for more detail on the bullish and bearish biases of EURUSD, GBPUSD, USDJPY, Gold, Bitcoin and S&P500. According to client positioning data from IG, 62.8 percent of traders are net long-resulting in a ratio of 1.69 traders long to short. However, the percent of traders net-long is 10.6 percent and 13.8 percent lower relative to the data readings yesterday and last week respectively. TRADING RESOURCESWhether you are a new or experienced trader, DailyFX has multiple resources available to help you: an indicator for monitoring trader sentiment; quarterly trading forecasts; analytical and educational webinars held daily; trading guides to help you improve trading performance, and even one for those who are new to FX trading. - Written by Rich Dvorak, Junior Analyst for DailyFX - Follow @RichDvorakFX on Twitter  |
| The Best Forex Brokers in France for 2019 • Benzinga - Benzinga Posted: 09 Apr 2019 12:17 PM PDT Recommended Broker: FOREX.comWith FOREX.com, you will get competitive pricing, award-winning customer service, actionable data, and powerful trading platforms to help you make the best possible trades. If you're a French investor and you want to find the best forex broker that services clients in France, you'll find some solid opportunities in France. It's imperative to ensure the safety of your funds and determine whether they can satisfy your trading requirements before you fund an account with a specific broker. Quick Look: Best Forex Brokers in FranceAn Overview of Forex Trading in FranceFrance has a long history of involvement in the financial markets, and the French enjoy the opportunities made available by being part of the European Union (EU). Trading currencies have become popular among French traders, so there's demand for brokers that service customers in France. A member of the Eurozone, France uses the EU's consolidated euro (EUR) currency as its national currency, which replaced the French franc in 2002 after the euro was introduced on Jan. 1, 1999. In its 2016 Triennial Central Bank Survey, the Bank for International Settlements (BIS) noted that the euro has been involved in 31.4 percent of daily forex market turnover. The consolidated currency was also ranked second among the most actively-traded currencies of 2016. France's chief financial regulator is the Autorité Des Marchés Financiers (AMF), or financial markets regulator. The AMF was established under the Financial Security Act (2003) by merging three national regulators into one, and the rules that France's AMF enforces include the EU's MiFID regulations. Forex and CFD brokers who want to take on French clients can either be authorized by the AMF or use the MiFID's passporting rules if they're regulated in another member state of the EU. In September 2016, the French AMF banned all advertising for over the counter (OTC) derivative financial products with leverage ratios higher than 5:1. This marketing restriction includes forex, CFD and binary options trading, and it was done in response to an AMF report about disreputable online forex and binary options brokers which fraudulently take advantage of French traders. Furthermore, the European Securities Markets Authority (ESMA) has taken on a supranational role regarding the regulation of EU financial markets. The ESMA recently rolled out new regulations that impose leverage limits of 30:1 for forex trading at EU-based brokers. They also prohibit binary options trading and require brokers to offer negative balance protection to prevent EU clients from losing more than their deposits. What to Look for in a Great Forex BrokerAll forex brokers are not created equal, so you need to make sure a broker will keep your money safe and has the services you need as a trader operating from France. Here are some important considerations to keep in mind before choosing to trade through an online broker: RegulationMake sure any broker you decide to trade through is well regulated, ideally with oversight by the AMF. Type of BrokerMost online brokers are market makers, Electronic Communications Network (ECN) brokers or No Deal Desk (NDD) brokers. Commissions and Dealing SpreadsDealing spreads and commissions raise trading costs, so you'll need to keep them as low as possible. Generally, ECN brokers offer narrower dealing spreads but charge commissions, while market makers have wider spreads but don't charge commissions. Trading PlatformCheck out the trading software or platforms to see if they're easy to use and meet your requirements. Many traders want to see support for MetaTrader 4 or 5. Customer ServiceMake sure you can read your broker's website and communicate effectively with its support staff via phone and live chat, especially if you prefer to use French. Research, Analysis and Educational MaterialsBoth new and experienced traders need learning tools. The Best Forex Brokers in FranceA list of our picks for the best online brokerage firms that provide services to French traders appears below. Most of them have a website translated into French, and if the broker supports MetaTrader 4 or 5, then you can use that trading platform's French language option. Choosing a broker with an office in France — or at least the EU — might be ideal in case you ever need to solve a dispute. A local presence also tends to encourage brokers to meet regulations so they can avoid customer complaints to their regulators. Many major online forex brokers offer customer service in French. They may even have their website and trading platform translated into the language, especially advantageous for you if you prefer to do business in French rather than English. Note that the maximum leverage ratios permitted for EU-based clients dealing through ESMA-regulated providers like the EU-based subsidiaries of the brokers listed below are:
The following recommended forex brokers or their parent companies all appear on the Banque de France's searchable Financial Agents Register (Regafi) that lists all French or foreign companies authorized to operate in France by the Autorité de Contrôle Prudentiel et de Résolution (ACPR). Best Overall: FOREX.com Best For
FOREX.com is a trade name of GAIN Global Markets Inc. This broker ranks as the top forex broker measured by client assets. FOREX.com submits to regulation in the United States under the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). The broker is also regulated in another seven jurisdictions, including the U.K. and Canada. Although its website does not currently appear to have a version in French, traders from France may open accounts at FOREX.com with the broker's U.K. entity regulated by the EMSA. The minimum deposit for a live account is €50, and the broker allows you to trade micro lots. FOREX.com segregates clients' money from its own and has an Islamic swap free account option. You will also enjoy the security of negative balance protection. FOREX.com provides clients with its proprietary Advanced Trading Platform and its Web Trading platform. It also supports popular third-party platforms like MetaQuotes' MetaTrader 4 and 5 platforms, as well as NinjaTrader. Read Benzinga's full FOREX.com Review IG IGGet access to over 15,000 global markets and support from teams in Geneva and Zurich. U.K.-based IG is a well-regulated forex broker that uses the market maker model. IG has a long list of regulators, including the U.K.'s FCA, BaFin in Germany and FINMA in Switzerland. IG accepts clients from France. IG provides a trading service in contracts for difference (CFDs) on forex currency pairs, stocks, indices and commodities. They also offer binary options, where permitted, since they own the Nadex binary option exchange. IG does not allow micro lot trading, and you can choose to have a negative balance protected account. While IG does not require a specific minimum deposit, you still have to fund your account with enough margin to make your first trade. Like most top brokers, IG allows clients to use MetaQuotes' MetaTrader 4 trading platform that offers desktop, mobile and web versions. The broker also has its own IG platform for desktops and its ProRealTime platform that runs in web browsers. You can also use their direct market access (DMA) trading platform called L2 Dealer. XM XMOpen and practice with a demo account with a $100,000 virtual balance. An online broker based in Cyprus, XM takes clients from France and also has offices in the U.K. and Australia. XM is well-regulated by CySEC, the FSA and ASIC in its relevant jurisdictions. French clients are protected by the MiFID regulations with this broker that also offers negative balance protection and segregates client funds from its own money. The broker even offers a multilingual live chat service that includes French. You can trade a wide range of assets via XM in addition to currency pairs using its supported platforms, including precious metals, energy commodities and stocks. XM allows traders to use MetaQuotes' MetaTrader 4 and 5 platforms that have desktop, mobile and web-based versions. You can also use MT4 MultiTerminal if you want to manage different accounts at the same time and from the same interface. The maximum leverage ratio XM permits for French clients is only 30:1 when trading currency pairs. Trading accounts can be opened with as little as $5, and you can trade micro lots and open an Islamic account too. FXCM (Forex Capital Markets) FXCMTrade Forex 24 hours a day and 5 days a week with commission-free micro CFDs. Start your account now, with $50. FXCM has become well-established as an online forex broker and maintains offices in the U.K., Australian and South Africa. It is regulated in the EU under the U.K.'s FCA, so French traders currently have the protection of the ESMA's and MiFID regulations. Traders from France can fund their trading account with only €50. You can also trade in micro lots if you want to fine-tune positions or keep your risk low. FXCM also keeps its clients' funds segregated from its own. FXCM allows you to trade currencies using the MetaTrader 4, NinjaTrader and Trading Station platforms, with desktop, web and mobile platforms available. It also lets you use the copy trading features of ZuluTrade's web platform if you're interested in social trading. FXCM has its website translated into French and lets you live chat to support staff in French. It even has an FMA-regulated partner called Bourse Direct that offers a multi-asset trading service and lets clients use FXCM's TradeBox and MT4 platforms to trade forex. FxPro FxProProvides clients with payment options such as bank transfers, debit cards, credit cards, PayPal, Skrill, Neteller, and Union Pay. FxPro is a top online broker that uses a No Dealing Desk (NDD) service model. With offices in the U.K., Cyprus, South Africa, the Bahamas and the UAE, the firm is well regulated in the EU under CySEC and the U.K.'s FCA, and the Securities Commission of the Bahamas (SCB) oversees its operations in the Bahamas. EU accounts enjoy negative balance protection, segregated client accounts and the other benefits of ESMA and MiFID regulations with this broker. French traders will appreciate the live chat support and website in French, as well as support number from France. You can open up a trading account with FxPro with at least €100. The broker also lets you trade micro lots and open Islamic accounts. FXPro's supported trading platforms include cTrader and MetaTrader4 and 5, as well as its own highly-rated FxPro Markets platform. You can trade with this broker using desktop, web and mobile platforms. Although its U.K. entity is limited to offering leverage of 30:1, FxPro offers a much larger amount of leverage up to 500:1 for currency pairs on as much as 100 open lots as long as you trade through their Bahama entity FxPro Global Markets Ltd. Lower leverage ratios apply to bigger open lot sizes. Start Trading TodayYou can choose any of the reputable brokers listed above to approach to open an account just by visiting their website. The brokers also allow you to check out their services and trading platform by quickly opening up a demo account initially. Once you want to open a live account, the broker will then ask you for more detailed information to identify you and obtain funding from you in a sufficient amount to satisfy the broker's minimum deposit requirement.  |
| Global trade tension, growth worries underpin yen; Brexit summit in focus - CNBC Posted: 09 Apr 2019 07:07 PM PDT  The safe-haven yen remained in demand on Wednesday as investor caution prevailed due to fresh U.S.-Europe trade tensions and the International Monetary Fund's downgrade of its global economic outlook. Most major currencies were locked in narrow trading ranges as market participants largely kept to the sidelines ahead of a crucial Brexit summit meeting and a rate decision by the European Central Bank later in the day. Broader sentiment in the market remained subdued as the flare-up between the United States and Europe added to other potential global flashpoints over trade, including Sino-U.S. negotiations. "Now, there are battles on two fronts for the U.S.," said Bart Wakabayashi, Tokyo branch manager at State Street Bank. "If they're going to be driving the global economy, it'll be inherently more difficult if they're fighting all these trade wars... on multiple fronts," he said. Against a basket of key rival currencies, the dollar drifted slightly higher to 97.036. The dollar was a shade lower at 111.135 yen. From a more than three-week high of 111.825 brushed on Friday, the U.S. unit has fallen almost two-thirds of a percent. Daiwa Securities senior currency strategist Yukio Ishizuki said the Japanese currency found further support ahead of an unprecedented 10-day holiday from late April to early May in Japan to mark the ascension of the new emperor, Crown Prince Naruhito. "Above anything else, Japanese companies are conservatively managing operations. At the current stage, many of them will naturally be selling the dollar," Ishizuki said. "It'll be easy for the yen to strengthen until the 10-day holiday is over," he added. The Australian dollar was up 0.1 percent at $0.7129, erasing an earlier loss after it found support on a speech from a senior Australian central bank official. The Reserve Bank of Australia is keeping a close eye on how the divergence between a seemingly slowing economy and a strong labour market resolves itself to help determine where policy rates are headed, Deputy Governor Guy Debelle said. On Monday, the U.S. Trade Representative proposed a list of European Union products ranging from large commercial aircraft and parts to dairy products and wine on which to slap tariffs as retaliation for European aircraft subsidies. The IMF on Tuesday slashed its global growth forecasts for 2019 to 3.3 percent, the slowest expansion since 2016 and from its earlier projection of 3.5 percent in January. The global lender said a sharp downturn could require world leaders to coordinate stimulus measures. Investors' immediate focus on Wednesday will be on the ECB rate decision, a news conference by ECB President Mario Draghi and the release of minutes of the Federal Reserve's last policy meeting. Ahead of the Brexit summit meeting, the euro and sterling were largely unchanged, trading at $1.1258 and $1.3052, respectively. European Union leaders will likely grant Prime Minister Theresa May a second delay to Britain's exit from the EU but they could demand she accepts a much longer extension as France pushed for conditions to limit Britain's ability to undermine the bloc. The latest IMF forecasts, together with a pullback in oil prices, put pressure on commodity-linked currencies such as the Canadian dollar. The loonie was a shade weaker at C$1.3334 after retreating overnight from its strongest level since March 21.  |
| Trade War: The Currency Paralysis Will Continue Until The Negotiations Conclude - Benzinga Posted: 09 Apr 2019 07:18 AM PDT Currency traders may wonder if they are being punished. Since late last October trend has vanished from the FX Markets. There seems to be a new law of foreign exchange markets--Every sustained movement will be met by an equal and opposite reversal, (apologies to I. Newton). From the end of October to the beginning of March, more than four months, the euro traded in a two figure range against the US dollar, from 1.1500 to 1.1200. Since then the spread has been from 1.1200 to 1.1400. The slight negative euro bias from the start of the period to then end cannot be called a direction.
The yen has been more mobile with a range of 114.00 to 107.00 but the result has been the same. On October 26th the USD/JPY closed at 111.88. As of this writing it is trading at 111.53. Sterling (GBP/USD) has moved between 1.3300 and 1.2600, trading down to December and higher in the New Year. The result has been yet more of the same. On November 1st the sterling closed at 1.3015. It is at 1.3065 on the afternoon of April 8th. Dollar/Swiss, (USD/CHF) was at 1.0084 on October 31st. Currently it is 0.9991. The Australian Dollar (AUD/USD) finished November 1st at 0.7206 against the US Dollar. It is now 0.7128. The New Zealand Dollar (NZD/USD) was at 0.6886 on November 1st, April 8th sees it at 0.6746. Of the majors the Dollar/Canada (USD/CAD) is the closest thing to an exception. On November 1st it finished at 1.3086, it is now at 1.3311. Despite the absence of a market response the last five months have not been devoid of events or surprises. The Federal Reserve raised its base rate in December and reversed policy six weeks later. The growth rate of the US economy halved over six months from 4.2% annualized in the second quarter to 2.2% in the fourth while the American job machine continued to churn. Unemployment stayed below 4% and for many groups was at historical lows. Initial jobless claims sank to levels not seen in 50 years. Consumer optimism was buoyant but retail sales plunged in the Christmas shopping season. In Europe the ECB began an economic support loan program just months after ending its financial crisis bond purchases. Italy entered its third recession of the past decade under a Eurosceptic populist government. Germany skirted a technical recession and saw sentiment in its vaunted manufacturing sector drop to its lowest level since the financial crisis. France erupted in countrywide riots and protests that demolished the popularity of President Macron but offered little in the way of an alternative political or economic program. Great Britain continued to tie itself in political and Parliamentarian knots over Brexit. Almost three years after the departure vote on June 24th 2016, there is still no plan for leaving the European Union, for staying, or even for how to decide its future. China's industrial output, exports and growth rates sagged to levels not seen since the financial crisis as Beijing poured money into its economy and tried to manage its trade dispute with the United States without terrorizing its own or the global economy. In less confused times any one or two of these developments would have sent currencies into motion. Two unusual situations have kept the markets from enacting a new scenario to replace the strong dollar creed of the last two years. The first is in the EU, the second is in China. Economic growth in the US and the EU has moved out of phase. The US is expanding and has the economic and rate cushion to maintain its pattern regardless of what happens globally. The EU has neither. Its growth is below 1% and with the ECB's main refinancing rate at zero, it has limited and weak options for avoiding a recession. In less fraught times the Fed move to a neutral rate policy after three years of tighter money would have taken the supports from under the dollar and sent the euro soaring. But with the ECB signaling its own return to liquidity provisioning at almost the same time as the Fed the two policy changes have negated each other, leaving the currency markets without direction. China has a problem born of its rapid ascent into the industrialized world. Despite its export prowess, the mainland's limited success at developing a domestic market has left its return to stronger growth largely dependent exports, that is, on the resolution of its trade negotiations with the United States. If the US/China trade talks result in an agreement the relief rally in the global economy will power equities and the dollar. But until the deal is clinched there is no reason to take the US currency higher. Patience is not a market virtue but prudence is. Image sourced from Pixabay  |
| Business Report: Currency exchange rates - Hawaii News Now Posted: 09 Apr 2019 02:14 PM PDT [unable to retrieve full-text content]Business Report: Currency exchange rates Hawaii News Now This shows how much buying power foreign visitors lose, trading their money for US currency.  |
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