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Date : 14th December 2017. MACRO EVENTS & NEWS OF 14th December 2017. FX News Today European Outlook: Stock markets headed south overnight as the Fed hiked rates and maintained the rate outlook for next year, despite lifting growth projections. A surprise hike in short term interest rates by China’s central bank added to pressure. U.K. futures are also heading south as the focus switches to European central banks with ECB, BoE and SNB all seen on hold. The ECB in particular could sound more hawkish than at the last meeting as council members are increasingly divided over Draghi’s open ended QE policy amid signs of capacity constraints in the economy. Data releases include preliminary Eurozone PMI readings for December, U.K. retail sales, as well as final November inflation data for a number of Eurozone countries. EU heads of states will start to gather for the start of the summit that is hoped to finally pave the way for talks and trade and transition agreements with the U.K. FOMC hiked 25 bps and left the dots at three tightenings in 2018. The rate increase from a 1.25% to 1.50% policy band was universally expected, and the three tightenings next year was largely anticipated too. There were two dissents, with Evans and Kashkari dissented and voted for no change in rates. The Fed’s statement said the labor market continued to strengthen while economic activity was seen rising at a solid rate. On inflation, the Fed said overall and core inflation on a 12-month basis had declined this year and are running below 2%, , which may have provided the weight on the dollar.The dollar fell after the as-expected 25 basis point Fed rate hike, then quickly headed above levels just prior to the announcement, before dipping again. Main Macro Events Today SNB Monetary Policy – Expectations – SNB expected to continue to highlight the need for negative rates and reiterate the line from its previous policy meeting that it “will remain active in the foreign exchange market, as necessary, while taking the overall currency situation into consideration.” UK Retail Sales – Expectations – 0.4% m/m rise after a 0.3% m/m gain in the month prior BoE Preview – The BoE’s two-day December MPC meeting concludes today. No change decisions on the repo rate, which would leave it at 0.50%, and QE totals (both gilts and corporate bond purchases) are widely expected, which we anticipate will be by unanimous votes at the nine-member committee. EU Services PMI – Expectations – a dip in the services reading to 56 from 56.2 and a decline in the manufacturing number to 59.8 from 60.1 in the previous month. ECB Preview – Data releases since the October meeting, when Draghi wrapped a reduction of net asset purchases form January onwards in a dovish guidance, have shown stronger than expected growth momentum that will likely see upward revisions to growth and inflation forecasts. Against that background calls for Draghi to finally commit to an end date for QE are getting louder as are warnings that the ECB’s policy may remain too accommodate as the output gaps closes faster than anticipated. Indeed, the event risk for today’s press conference is a more hawkish tone than markets expect, especially after yesterday’s Fed hike, as the move will give Draghi more room to manoeuvre without putting undue upward pressure on the EUR. US Retail Sales and Jobless Claims – Expectations –Headline Retail sales are projected to increase 0.3% for November from 0.2%. Initial jobless claims are seen at 239k from 236K last week. Charts of the Day Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 13th December 2017. MACRO EVENTS & NEWS OF 13th December 2017. FX News Today European Outlook:Asian stock markets traded mixed, with Japan underperforming as the yen strengthened amid a wider dip in the dollar. The Hang Seng meanwhile outperformed and bounced back 1.3% with Air China Ltd rallying but casinos leading the gains on the benchmark index. U.K. and U.S. futures are in the read, however, ahead of the expected Fed hike today and as the dollar was hit by the Democrats win in the Alabama vote, which cast further doubt on Trump’s legislative agenda. Treasury yields declined overnight and Bund futures moved up from lows, suggesting fresh safe haven demand. The Fed announcement will overshadow the European calendar, which has German inflation at the start of the session as well as U.K. labour market data and Eurozone production and employment numbers. German Nov HICP inflation was confirmed at 1.8% y/y, as expected and up from 1.5% y/y in the previous month. The breakdown confirmed that the main driver behind the uptick was a rebound in energy price inflation, with petrol prices rising 2.6% m/m, bringing the annual rate up to 5.9^ from 1.2%. Heating oil prices also surged and while the German headline rate now is pretty much in line with the ECB’s objective, Draghi can still refer to the transitory impact of energy prices and still wage growth when he defends his very expansionary policy. More importantly perhaps, the German rate is above the Eurozone rate and as there hasn’t been much progress with regard to economic convergence since the crisis, stronger countries such as Germany may have to be forced to live with a period of above target inflation to give the weaker countries more time to catch up. Either way, with wage growth still weak Draghi still has something to argue with as he defends his ongoing asset purchases, although with companies running into capacity constraints today’s numbers will add to pressure from Germany to commit to an end date for QE. Main Macro Events Today UK ILO Unemployment & Average Earnings – Expectations – ILO unemployment rate expected to tick lower to a new 40-year low of 4.2%, from 4.3%, while the BoE-watched average household earnings to tick up to a cycle of 2.5% y/y from 2.2% y/y. US CPI – Expectations – 0.4% in November from 0.1%; with a 0.2% core rise forecast. FED Rate Decision and FOMC Press Conference at 19:00 GMT Charts of the Day Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 12th December 2017. MACRO EVENTS & NEWS OF 12th December 2017. FX News Today European Outlook: Asian stock markets mostly headed south, as this week’s central bank meetings come into focus and amid a lack of incentive for investors to push out indices beyond recent highs. U.S. markets still managed to move higher as investors shrugged off the explosion in New York, and while volumes were lacklustre U.S. but also U.K. stock futures are moving higher. The FTSE 100 already outperformed yesterday and ongoing pressure on the Pound is continuing to underpin market interest. Oil prices are higher on the day with the front end WTI future trading at USD 58.39 per barrel. The calendar, which started very slow yesterday, heats up today, with U.K. inflation numbers for November and the German ZEW investor confidence reading for December. FX Update: Narrow ranges have prevailed so far today as market participants sit on their hands ahead of key data from key economies this week, the first of which arrives later in the form of UK November inflation data and the latest German ZEW investor survey, along with a plethora of central bank policy decisions. EURUSD has settled near 1.1780, lacking direction after the rebound from Friday’s 1.1730 low stalled at levels above 1.1800. USDJPY has plied a narrow 14 pip range so far today, between 113.43 and 113.57, settling toward the lower part of this range, which roughly marks the midway point of yesterday’s range. Cable has settled to a narrow oscillation just above yesterday’s three-session low at 1.3330. The NZ dollar bucked the directionless trend, with the currency having rallied for a second successive session as markets continue to react to yesterday’s announced appointment of Adiran Orr as the new RBNZ governor. NZDUSD logged a two-week high at 0.6937. Main Macro Events Today UK CPI and PPI – Expectations – headline and core CPI readings to remain unchanged at 3.0% y/y and 2.7% y/y, respectively, though producer input and output costs expected to tick higher, to respective rates of 6.8% y/y, from 4.6% y/y in the month prior, and to 3.0% y/y from 2.8% in October. German ZEW Sentiment – Expectations – at 18k from 18.7K seen last month US PPI and Core – Expectations – forecast to rise 0.4% vs 0.4%; core PPI is set to increase just 0.2% vs 0.4%. ECB President Draghi Speech at 19:00 GMT Charts of the Day Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

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Date : 11th December 2017. MACRO EVENTS & NEWS OF 11th December 2017. FX News Today The FOMC meeting is front and center this week following the solid November jobs report on Friday, which provided the final bit of cover for the Fed to push ahead with a quarter point December rate hike as well telegraphed. It will be the last meeting conducted by Chair Yellen, who can now tie a bow on her 3+ year tenure and hand the policy wand over to Jay Powell. Attention will remain on Europe too with a number of key events late in the week, including ECB and SNB policy meetings Thursday, and EU Leaders Summit and Brexit discussions, as well as German coalition building. United States: The U.S. calendar will be crowded by supply and the FOMC policy decision, but the economic reports could pack some punches of their own thanks to key releases on inflation and retail sales, among others. November headline PPI (Tuesday) is forecast to rise 0.4% vs 0.4%; core PPI is set to increase just 0.2% vs 0.4%. The Treasury budget gap is also out (Tuesday) and is expected to narrow slightly to -$132 bln in November from -$137 bln a year ago. Headline CPI (Wednesday) is on tap to rise 0.4% in November from 0.1%; with a 0.2% core rise forecast. MBA mortgage applications and EIA energy inventories are also due (Wednesday). Headline retail sales (Thursday) are projected to increase 0.6% for November from 0.2%, while ex-auto sales may outperform at 1.0% vs 0.1%, given weaker auto sales of late. Import prices (Thursday) may rise 0.7% in November, while export prices are seen up 0.2%. Initial jobless claims are seen steady at 236k for the December 9 week. Business inventories may sink 0.1% for October (Thursday). All out on Friday, the Empire State index may rise to 20.0 in December from 19.4, industrial production is set to rise 0.2% in November and capacity use to 77.1%, while TIC flow data is due. Canada: Governor Poloz’s speech (Thursday) to the Canadian Club Toronto is the highlight of a fairly lean calendar this week. The speech will be published at 12:25 ET, with a press conference to follow at 13:45 ET. In last week’s announcement, the BoC maintained a cautious approach to further rate hikes amid “considerable uncertainty” on the global outlook. The press conference should make for interesting listenin, as Poloz and Wilkins expected to receive end of several pointed questions about wages, trade, GDP and what it will take to prompt another rate increase. Meanwhile, the economic reports due out this week have limited scope to alter the outlook for BoC policy. October manufacturing is expected to bounce 1.5% after the 0.5% gain in September. Existing home sales for November (Friday), the October new home price index (Thursday) and the Teranet/National HPI (Wednesday) will complete the housing data docket for October/November. Europe: With the holiday period approaching fast, the week is a bumper one for data, as well as key political events, and key central bank meetings. After May and Juncker reached a breakthrough agreement on key Brexit issues, EU heads of states are expected to officially declare that sufficient progress on divorce terms has been made to move to phase 2. In Germany, there is fresh hope that new elections can be avoided after the SPD reversed its decision not to enter coalition talks. The first official meeting is scheduled for this week. These events may overshadow Thursday’s ECB meeting to a certain extent, especially after Draghi effectively mapped out the policy path until the end of September 2018 by delivering a 9 month QE extension in October. Data releases ahead of the ECB meeting will be overshadowed by the full event calendar and focus on final inflation data for November, as well as the first round of December confidence data with preliminary PMI and German ZEW readings. Expectations are for the confidence numbers to fall back slightly, but remain at very high levels, consistent with strong growth and job creation. The headline HICP rates expected to confirm preliminary numbers of 1.8% for Germany (Wednesday), 1.3% for France (Thursday) and 1.1% for Italy (Thursday), which should leave overall Eurozone HICP (due Dec 18) at 1.5%, below the 2% upper limit for price stability, but with signs that underlying inflation pressures and wages are starting to pick up. UK: The pound opens the new week on a fragile footing after coming under pressure on Friday. That drop was partly due to sell-on-the-fact moves following the agreement between the EU and U.K. on divorcing terms, partly on rising concerns as the details of the deal are digested, and also in part on the sharpening of focus on the realities of the next phase of negotiations, which will involve agreeing on new trading terms with 27 countries in the relatively short time period until Brexit-Day in March 2019. The EU has already warned the U.K. that trade talks can’t happen until March next year. The main concern about the divorce agreement is “regulatory alignment” accord that was needed to maintain the Irish border as a soft border, a circumstance, as U.S. trade representatives have warned before, that could hinder or stop the U.K. from signing free trade deals with other countries. This seems to suggest that the government has, essentially, positioned the U.K. for a “soft” Brexit, and we have to now see how this unfolds politically.The data calendar is highlighted by November inflation numbers (Tuesday), the monthly labour market report covering October and November (Wednesday), and the November retail sales report (Thursday). Japan: In Japan, November PPI (Tuesday) is expected unchanged after firming to 3.4% y/y in October versus September’s 3.1%. However, the slightly stronger yen may have limited PPI gains. Any sign of rising inflation will be good news for the BoJ. The October tertiary index (Tuesday) should rebound 0.3% versus the previous -0.2% outcome based on gains in recent real sector data. October machine orders (Wednesday) are penciled in with a 3.0% m/m gain from the 8.1% drop in September. Revised October industrial production is due Thursday. It posted a 0.5% gain in the preliminary report versus September’s -1.0%. It’s been on a choppy, saw-toothed monthly path through the year. Friday brings the December Tankan index, seen improving to 25 from 22 for large manufacturers, and to 26 from 23 for large non-manufacturers. China: November industrial production (Thursday) is forecast at little changed at 6.1% y/y from 6.2% previously. It’s held a 6-handle most of the year, with a couple of readings in the 7s. November fixed investment (Thursday) is expected to slow to a 7.1% y/y pace from 7.3%. November retail sales (Thursday), meanwhile, should rise to a 10.3% y/y rate from 10.0% previously. AustraliaReserve Bank of Australia Governor Lowe speaks at the Australian Payment Summit 2017 (Wednesday) on “An eAud?” Head of Payments Policy Richards participates in a discussion panel (Wednesday) at the Australian Payment Summit 2017. Assistant Governor (Financial Markets) Kent speaks (Wednesday) on “The Availability of Business Finance.” The employment report (Thursday) is expected to reveal a 10.0k gain in total jobs during November following the 3.7k rise in October. The unemployment rate is projected to hold at 5.4% in November. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 8th December 2017. MACRO EVENTS & NEWS OF 8th December 2017. FX News Today European Outlook: Asian stock markets rallied after a positive close on wall Street. The trade surplus overshot expectations, and is bullish for China’s economy. China’s trade surplus improved to $40.2 bln in November from $38.1 bln in October, while Japan’s Q3 GDP grew 2.5% in the final reading, up from the preliminary 1.4% gain (q/q, saar). GDP grew 2.9% in the final report for Q2. Japan led the way as a weaker yen underpinned exporters, as the dollar gained amid reports that U.S. tax cuts are making progress in congress. With investors looking in profits at the end of a strong year for stocks there have been sizeable swings and forex markets remain a driver, with FTSE 100 futures in the red, as the Pound rallied on news of progress in Brexit negotiations that could see next week’s EU summit pave the way for early trade and transition talks. U.K. jobs data in the afternoon overshadows local data releases, which include French production, U.K. trade and the U.K. NIESR GDP estimate. White smoke over Brussels as U.K. and EU strike deal on key Brexit issues that is hoped to unlock Phase 2 and talks on a transition period and future trade relationships at next week’s summit. After agreeing on the future role of the ECJ yesterday May managed to find a compromise on the Irish boarder, that kept the DUP happy but also satisfied the Republic of Ireland, with the latter confirming that it will now back talks moving into Phase 2. The Pound rallied on the news and FTSE 100 futures are also moving higher now after initially dipping on the stronger Pound. EGB yields are moving up in early trade as safe haven flows are being reversed. Elsewhere in europe, German sa trade surplus narrowsed as imports surged. Germany’s sa trade surplus narrowed to EUR 19.8 bln in October, from EWUR 21.9 bln in the previous month, as exports contract for a second consecutive month, while imports surged 1.8% m/m, after falling -1.1% m/m in September. The surge in imports may give a partial explanation and overall the prospects for exports and production remain good, despite the weak October numbers. Main Macro Events Today UK Manuf. and Industrial Production – Expectations – Manufacturing Production to come at 0.1% m/m after 0.7% seen in September, and with 3.9% y/y growth from 2.7%. Industrial production headline to come in at 0.0% m/m after 0.7% m/m growth in September, and with 3.5% y/y growth. US NFP – Expectations – at 200K from 261K seen last month Baker Hughes US Oil Rig Count Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 7th December 2017. MACRO EVENTS & NEWS OF 7th December 2017. FX News Today European Outlook: Stock markets recovered in Asia overnight, with Japan leading the way as the yen weakened. Tech stocks rebounded, after sell off in U.S. stocks halted. The Nikkei managed a 1.45% gain, outpacing moves higher in Hang Seng and ASX 200. The CSI 300 underperformed and headed south, with commercial banks under pressure on the mainland and in Hong Kong after regulators said it is planning the introduction of quantitative indicators in the management of commercial banks’ liquidity and the IMF suggested banks to increase capital buffers against a sudden downturn. U.K. and U.S. stock futures are moving higher, confirming that risk appetite is returning, which could see Bund and Gilt yields recover some of yesterday’s losses. Today’s calendar has U.K. house price inflation from Halifax and the detailed reading of Eurozone Q3 GDP. Brexit talks remain in focus and in Germany the SPD is set to make a formal decision on whether to enter coalition talks with Merkel’s CDU/CSU a party convention today. German industrial production unexpectedly dropped -1.4% m/m in October and while September was revised up to -0.9% m/m from -1.6% m/m reported initially, it still leaves production down for a second consecutive month. The numbers look at odds with strong orders numbers and survey data, but indicated a build up in the backlog of orders that also squares with PMI reports. This would suggest that the weaker than expected production numbers are not a sign of weakening growth momentum, but at least partly a reflection of the fact that companies seem to be running into capacity constraints, and while the annual rate fell back to 2.7% y/y from 4.1% y/y, the growth rates remain robust so far. Main Macro Events Today EU GDP (Q3) – Expectations – unchanged at 0.6% q/q and at 2.5% y/y. ECB Pres. Draghi Speech at 16:00 GMT in Frankfurt US Unemployment Claims – Expectations – up by 2k to 240k for the December 2 week. Canadian Building Permits and Ivey PMI- Expectations – Building permits expected to fall 1.0% in October after the 3.8% gain in September, while Ivey PMI expected to slip by 1.1 to 62.7 for November. Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 6th December 2017. MACRO EVENTS & NEWS OF 6th December 2017. FX News Today European Outlook: Stock markets tanked in Asia overnight, with Nikkei and Hang Seng both losing nearly 2% as technology, mining, consumer and industrial sectors came under pressure and a stronger Yen added to the sell off in Japanese stock markets, while the ASX outperformed with a -0.44% loss as the AUD weakened on disappointing GDP numbers. Australia GDP expanded 0.6% in Q3 (q/q, sa), mildly undershooting expectations but after an upwardly revised 0.9% rise in Q2 (was +0.8%). GDP climbed 2.8% y/y in Q3 after a revised 1.9% growth rate in Q2. AUDUSD fell to 0.7574 from 0.7613 just ahead of the report, as the undershoot of total GDP relative to projections combined with the sluggish household consumption growth pace squashed the mild jolt of rate hike optimism seen following modestly less dovish outing from the RBA. U.K. and U.S. stock futures are also down and ongoing pressure on stock markets should keep EGBs supported and yields The calendar has the Eurozone retail PMI, with Brexit talks remaining a key focus ahead of next week’s EU summit. German manufacturing orders unexpectedly rose 0.5% m/min October. Expectations had been for a correction from the strong September number, but while the last figure was revised up to 1.2% m/m from 1.0% m/m, the October number showed a further improvement of 0.5% m/m (median -0.2%). This confirms firm survey data and expectations for another strong GDP growth rate in Q4. The German, but also the overall Eurozone industrial sector continues to fire on all cylinders with job creation accelerating, but price pressures also emerging now. Against that background Draghi could tweak the forward guidance next week somewhat to clarify that in the central scenario net asset purchases will end in September next year, even if the door to another follow on program remains theoretically open. Main Macro Events Today ADP Non-Farm Employment – Expectations – increase to 185k for November vs 235k previously. US Labor Costs (Q3)- Expectations – slip to 0.2% from 0.5%. BoC Rate Statement – Expectations – no change is expected to the 1.00% rate setting in today’s announcement. Bank-speak since the September rate increase emphasised that the Bank is in an “intense data dependent mode” and will be cautious in the removal of further stimulus. Uncertainty remains elevated, notably around the (still) ongoing Nafta negotiations. Oil Inventories – Expectations – a decline by 0.25M Barrels from last week -3.429M outcome. Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 5th December 2017. MACRO EVENTS & NEWS OF 5th December 2017. FX News Today European Outlook: The boost from U.S. tax cut hopes started to fade in Asia and equity markets mostly headed south, as investors moved out of tech stocks once again and into banks. The Nikkei closed down -0.37%, the Hang Seng is down -0.57%. U.S. futures moved higher, but UK100 futures are also down, as yesterday’s hopes of a Brexit deal that would pave the way for talks on trade and transition were smashed for now. Long yields moved higher in Asia, although late gains in Bund futures yesterday and the prospect that the GER30 is likely to retreat further from yesterday’s highs, could see yields also coming down somewhat in early trade. The data calendar includes the final readings of Eurozone services PMIs for November, as well as the U.K. services PMI and EMU retail sales. German coalition talks and Brexit negotiations remain in focus ahead of next week’s EU summit. FX Action: USDJPY lifted marginally during the pre-European session in Asia. Higher U.S. Treasury yields helped lift the pairing in the face of generally lower stock markets in Asia-Pacific, which were afflicted by a resumption in the global tech sector selloff (the Nasdaq closed on Wall Street yesterday with a loss of just over 1%). AUDJPY buying was seen following above-forecast retail sales data out of Australia, which was followed by a comparatively less dovish statement from the RBA governorfollowing today’s policy meeting that left the cash rate unchanged at 1.5%. Meanwhile, in Europe, Cable has settled around 1.3470 after dropping to a 1.3412 low from levels above 1.3500, since there was no deal with regard to divorcing arrangements between EU and UK. PM May said during a press conference with EU’s Juncker that “differences remain” despite having a “constructive meeting.” Is also became clear that there would be no breakthrough deal on the Irish border at meeting between May and Juncker. For a while it seemed that a compromise deal had been reached, but May’s Northern Irish ally DUP criticised the leaked details earlier although May said there will be further talks ahead of the EU summit next week, which means there is still the chance that there will be sufficient progress for EU leaders to pave the way for early talks on trade and transition next week. Main Macro Events Today EU & German Service PMI – Expectations – unchanged at 56.2 and 54.9 respectively. UK Service PMI – Expectations –a headline of 55.0 after the 55.6 reading of the October survey. Canadian Trade Balance – Expectations – narrow to -C$2.6 bln from -C$3.2 bln in September. US ISM Non – Manuf. PMI – Expectations – 59.0 in November from 60.1. Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

HotForex: Upcoming December 2017 Webinars Part 1. Power your trades with industry tips and knowledge from our forex experts by signing up to our free weekly webinars. Our webinars are designed to improve your FX knowledge and help you hone your trading skills to give you the confidence you need to trade the markets! Whether you are a beginner or an experienced trader, our seasoned market analysts will guide you through key forex strategies and concepts. Every live webinar is followed by a Q&A session, giving you the opportunity to put your questions to the presenter! We are committed to being with you every step of the way in your forex trading career, and by providing valuable forex education, we can give you a solid foundation to begin trading. Registration is FREE but you need to hurry up because places are limited! By joining our webinars you can: *Watch our experts analyse the markets live. *Strengthen your trading skills and knowledge. *Ask questions and get the answers you need. *Access past webinars to refresh your memory. *Get valuable training that is not readily available online. *Discover industry tips and tricks from the pros. Places are limited*, so book your free place now! View our webinar lineup till 19th December 2017: 05 December 11:00 AM: Live Analysis In this live analysis webinar, our market expert Stuart will analyze forex, commodity and stock markets. Traders of all levels of experience can learn from this opportunity to ask questions about analysis, trading, risk management and future trading setups. * Watch Stuart analyze the markets in real time * Learn how professionals approach analysis and trading * Get your trading questions answered live Instructor: Stuart Cowell, HotForex’s Senior Analyst 06 December, 11:00 AM GMT: Forex and Correlations to Other Markets Learn how interconnected the financial markets are and why the FX market is so important; WHY it’s important to appreciate the other markets that move our currency pairs and the correlations between seemingly unrelated events and news. * Why does good news cause a currency to fall? * What are Bonds and why are they so important? * How do Commodities, Equities, Trades, & Takeovers impact the Forex market? Instructor: Stuart Cowell, HotForex’s Senior Analyst 07 December, 12:00 PM: Scalping Strategies Explained Senior trader and forex researcher, Kay will be your host for this dedicated webinar on forex scalping strategies. Find out how the two main methods of currency trading strategies are used in scalping in a session that will cover: * Price action vs. mean reversion in scalping * Example of a powerful scalping strategy * How to manage risk Instructor: Kay, BlueSkyForex 12 December, 11:00 AM GMT: Live Analysis In this live analysis webinar, our market analyst Andria will analyze forex, commodity and stock markets. This is a great learning opportunity for both new and proficient traders as you can ask all your questions on analysis, trading and risk management and find trading setups for the coming days. * Watch as Stuart analyzes forex, commodity and stock markets in real time * Learn how professional traders approach analysis and trading * Get your trading questions answered live Instructor: Stuart Cowell, HotForex’s Senior Analyst 13 December, 11:00 AM GMT: Trading Intraday with Pivot Points Today Andria will explain the origins of Pivot Point Analysis. Join her to find out what pivot points are, why this technical analysis indicator is such a powerful and useful intraday trading tool and how to use it to spot possible market movements over different time frames. * The keys of support and resistance * Time frames * How effective S1,2,3 and R1,2,3 can be Instructor: Andria Pichidi, HotForex’s Analyst 14 December, 12:00 PM GMT: Indicator Crossovers Using trade indicators in order to identify opportunities in financial trading is a challenge that may seem difficult at first but can turn out to be profitable when you learn to identify the proper signs. In this webinar we will be discussing: * How to use a moving average crossover * Crossovers in other indicators * Combining crossovers to identify opportunities Instructor: Kay, BlueSkyForex 19 December, 11:00 AM GMT: Money Management in Forex In this live analysis webinar, our market expert Stuart will analyze forex, commodity and stock markets. Traders of all levels of experience can learn from this opportunity to ask questions about analysis, trading, risk management and future trading setups. * Watch Stuart analyze the markets in real time * Learn how professionals approach analysis and trading * Get your trading questions answered live Instructor: Stuart Cowell, HotForex’s Senior Analyst If you have any questions, comments or feedback, please do not hesitate to contact our dedicated Customer Support Team via myHotForex, live chat, or by email webinars@HotForex.com. Best Regards, The HotForex Support Team *Please Note: Places are limited and we cannot guarantee availability. On the day of the Webinar, make sure to dial in or login on time using the instructions in the confirmation email you receive following registration. When the maximum number of attendees is reached, no further registrants will be able to join.

Date : 4th December 2017. MACRO EVENTS & NEWS OF 4th December 2017. FX News Today The collision of two opposing forces on Friday put the markets in a lather as the Senate tax cut bill garnered sufficient momentum to pass by the skin of McConnell’s teeth, but offset by news that former Trump advisor Flynn plans to plead out to lying to the FBI and indicate he was directed (by someone) to contact the Russians. According to several reports, that “someone” now appears to have been Trump’s son-in-law Kushner, who has meanwhile been invited back before the Senate Intelligence panel. At least in the short-term, this was a clear victory for volatility for a change, which was one of the main beneficiaries, contributing to large swings in stocks, yields and the dollar. It seems that December has begun with a bang and the last month of the year is certainly setting up to be an eventful one ahead of the holidays and before we close out 2017 United States: The U.S. economic calendar will feature a steady drumbeat of factory, trade, ISM services, ADP, productivity and credit data all setting the table for the main course on Friday — the jobs report. November non-farm payrolls are expected to increase by 260k, with a 250k private payroll gain following the October 261k print. Factory goods orders are forecast (Monday) to rise 0.2% for October after a 1.5% gain in September. The trade deficit is expected (Tuesday) to widen to -$47.5 bln in October vs -$43.5 bln, while ISM Non-Manufacturing index is set to slip to a still-respectable 59.0 in November from 60.1. The MBA mortgage market indices are due (Wednesday),along with the release of the private ADP employment survey. Q3 productivity is expected to increase 3.3% vs 3.0% in Q2 (Wednesday), allowing unit labor costs to slip 0.1% from 0.5%. Initial jobless claims may slip 2k to 236k for the December 2 week (Thursday). Rounding out the week after the payrolls report (Friday) will be preliminary Michigan sentiment and wholesale trade. Canada: The BoC’s announcement (Wednesday) is the focus this week. No change is expected in the current 1.00% rate setting. Taking into consideration ongoing uncertainty over NAFTA and the Bank’s desire to gauge the impact of this year’s 50 bp in hikes and upcoming mortgage rule changes, the next hike is anticipated in March at 25 basis point move. Meanwhile, a busy data calendar is on tap this week. The October trade deficit (Tuesday) is expected to narrow to -C$2.6 bln from -C$3.2 bln in September. Productivity(Wednesday) is expected to contract 0.5% (q/q, sa) in Q3 after the 0.1% dip in Q2, as hours worked growth remained firm but output growth slowed sharply. Building permits (Thursday) are expected to fall 1.0% in October after the 3.8% gain in September. Housing starts (Friday) are projected to slow to a 215.0k unit growth rate in November from the 222.8k growth clip in October. Capacity utilization (Friday) is on track to improve to 85.1% in Q3 from 85.0% in Q2. Europe: Political events move to the forefront again, as U.K. Prime Minister May is set to meet EU’s Juncker and Barnier on Mondayand Germany’s Social Democrats are inching closer towards formal coalition talks with Chancellor Merkel and her CDU/CSU alliance. SPD leader Schulz has a chance to put the issue to a vote at a party conference this week but as the last round of coalition talks showed, even the start of formal negotiations would not secure that there will be a deal at the end. Data releases this week are expected to confirm the stronger than expected growth trajectory. The final reading of the November Eurozone Services PMI(Tuesday) is expected to be confirmed at 56.2, with companies reporting swift job creation, but also a buildup of inflationary pressures that will add to the arguments of the hawks at the ECB. German October manufacturing orders (Wednesday) may be expected to correct -0.2% m/m , after the rise of 1.0% m/m in the previous month, but the overall trend remains very strong. Meanwhile German industrial production should still benefit from the robust rise in orders in previous months and is expected to have expanded 1.0% m/m in October. The data calendar also includes German trade data, French production, Eurozone retail sales and producer price inflation. Supply comes from Germany, with a EUR 2 bln 10-year Bund auction scheduled for Wednesday. UK: Monday’s meeting between British PM May and top EU officials will draw a lot of attention, as this is the juncture when an agreement on divorcing terms is now widely expected to be announced. The pound rallied by over 1% last week at the prompt of media reports suggest that both the UK and the EU have reached a concord with both the final financial settlement Britain will pay before leaving, to square exiting obligations, and the Irish border issue — the two thorniest issues of the three issues that comprise the overall divorcing arrangements (the other being the rights of EU and British citizens living in each other’s territory). Should this prove the case, talks on a post-Brexit trading relationship can begin, along with the possibility of a transitory period. The data calendar this week is highlighted by the release of the construction and service-sector PMI November surveys (Mondayand Tuesday, respectively). These will follow the much stronger than expected November PMI report for the manufacturing sector, released on Friday, which has offered fresh evidence of the impact that a competitive exchange rate and rising European demand have been having on the sector. Production and trade figures for October are also due on Friday. Japan: In Japan, November services PMI (Tuesday) is penciled in edging up to 53.5 from 53.4 previously. Revised Q3 GDP (Friday)is forecast to improve to a 1.6% y/y pace, from the initial 1.4% reading. Also, the October current account surplus is seen narrowing to JPY 1,700 bln from 2,271 bln in September. November bank loan figures are also on deck Friday. China: China November Caixin/Markit services PMI (Tuesday) is forecast at 51.5 from 51.2, while the November trade report(Friday) should see the surplus narrow to $35.0 bln from $38.2 bln. November CPI and PPI (Saturday) should show some slowing in inflation and we estimate the former at a 1.7% y/y clip from 1.9%, and 5.9% y/y from 6.9% for the latter. Australia: The RBA is seen holding rates steady at the current 1.50% rate setting (Tuesday). The Q3 current account deficit(Tuesday) is seen narrowing to -A$9.0 bln from -A$9.6 bln. Retail sales (Tuesday) are expected to expand 0.3% m/m in October after the flat reading in September. GDP (Wednesday) is expected grow with a 0.5% gain (q/q, sa) in Q3 after the 0.8% improvement in Q2. The trade surplus (Thursday) is anticipated at A$1.9 bln in October from A$1.7 bln in September. Housing investment(Friday) is expected to rise 2.0% m/m in October after the 2.3% drop in September. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 1st December 2017. MACRO EVENTS & NEWS OF 1st December 2017. FX News Today European Outlook: Asian stock markets traded mostly higher as tech stocks recovered on Wall Street and key oil exporting countries agreed to extend production cuts. Hang Seng and CSI 300 underperforming once again, after a weak Caixin manufacturing PMI reading. U.K. and U.S. stock futures are in the red, however, Japanese and U.S. long yields are down. Meanwhie, WTI crude languishes at the bottom of its intra day range, trading just above the $57.00 mark, as OPEC and Russia agrees to continue output caps through the end of 2018. The agreement will reportedly be reviewed in June of next year. This was the outcome most had been looking for, though with the market still overweight on the long side, profit taking may keep further gains out of reach until positioning returns to a more neutral state. Today’s calendar has final Eurozone manufacturing PMI readings for November, which are not expected to bring major surprises and confirm preliminary readings. The U.K. CIPS manufacturing meanwhile is sseen steady at 56.5, unchanged from October. FX Action: USDJPY edged out an 11-day high of 112.69 in the early Asia-Pacific session, and has since remained buoyant. This makes it the fourth consecutive day the pair has risen. Yen weakness has been driving the move. EURJPY logged a four-month high, at 134.29, GBPJPY a two-month high of 152.52, and AUDJPY a 10-day peak. A flood of data releases were seen today out of Japan, the more salient of which from a monetary policymaker perspective, was that inflation remains benign, with the October CPI headline coming in a just 0.2% y/y and the core CPI version at 0.8% y/y, well off the 2.0% BoJ target. Other data included a solid outcome in the November manufacturing PMI, which rose to a 53.6 reading from 52.8 in the month prior, its best in 44 months. Capital expenditure rose a solid 4.3% q/q in Q3, while labour data showed that the job to applicant ratio rose to its highest since January 1974. Main Macro Events Today EU & German Manuf. PMI – Expectations – rise by 0.2% for November from 0.9% seen in October. Canadian GDP – Expectations – slowdown to a 1.6% Q3 pace of real GDP growth (q/q, saar) from the 4.5% growth rate in Q2. Canadian Employment Data – Expectations – improve by 20.0k in November after the the 35.3k gain in October US ISM Manuf. PMI – Expectations – slip to 58.4 from 58.7 for November. Charts of the Day Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 30th November 2017. MACRO EVENTS & NEWS OF 30th November 2017. FX News Today European Outlook: The global sell off in tech stocks continued in Asia, Japanese markets managed to outperform, underpinned by financials and the Nikkei managed a gain of nearly 0.6%, but the Hang Seng dropped 1.5%, the CSI 300 1.3% and the ASX declined 0.69%, after the government announced an inquiry into banks. South Korean listed shares dropped after the central bank hiked interest rates. UK100 futures are heading south, U.S. futures are narrowly mixed. Data releases in Europe include Eurozone jobless numbers and most importantly preliminary Eurozone HICP readings for November. Sterling continued has extended its ascent into a third day, with Cable punching out a fresh two-month high of 1.3480 and EURGBP plumbing a three-week low. Reports continue to point to a deal-in-the-works between the EU and the UK on the final financial settlement, and there is also raised hopes that an agreement will be made on the Irish border issue (and so avoid the spectre of a Dublin veto). Elsewhere, EURUSD has remained buoyant, although has thus far remained below yesterday’s peak at 1.1882. USDJPY rose for a third straight session, logging an 11-day peak of 111.24. This is the biggest rebound the pair has seen in four weeks, marking a break in the down phase that’s been in place since November (both breaking above and closing above trend resistance yesterday). Strong gains have also been seen in EURJPY, which is up nearly 1% over the last day, along with GBPJPY, which has surged by nearly 2% over the last two days. The yen, which is generally regarded as the safe haven currency of choice, has clearly not been in demand despite the haemorrhage in tech stocks over the last day, and concerns about North Korea’s ongoing development of ICBM capability. Main Macro Events Today EU CPI – Expectations – rise by 0.2% for November from 0.9% seen in October. EU Unemployment Rate – Expectations – Unchanged at 8.9% for October US Unemployment Claims and PCE – Expectations –Unemployment Claims expected at 240K from 239K seen last week, while core PCE expected to rise to 0.2% m/m from 0.1%. Last day of OPEC meeting Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 29th November 2017. MACRO EVENTS & NEWS OF 29th November 2017. FX News Today European Outlook: Asian markets seem to have shrugged off North Korea’s missile launch and turned their focus to the progress of Trump’s tax cut plans, with a weaker yen, helping the Nikkei to rise 0.49%. the ASX is also up Hang Seng and CSI 300 are underperforming and struggling to hang on to marginal gains, and the MSCI Asia Pacific index gained for the first time in three days. China’s 10-year yield remained above 4% as the PBOC once again refrained from adding net liquidity. U.K. stock futures are down, despite reported that negotiators reached an outline deal on the Brexit “divorce bill”, which would lead the Irish border issue as the only obstacle to early trade and transition talks. Today’s calendar has Eurozone ESI economic confidence, preliminary inflation data out of Spain and Germany, U.K. money supply and credit growth as well as French GDP and consumer spending. Negotiators reached outline deal on Brexit “divorce bill”,according to Bloomberg reports.Cable surged nearly 100 points to 1.3325 following Bloomberg headlines (citing The Telegraph) saying that the U.K. and EU have agreed on divorce terms. EU leaders will still have the final say whether the offer is high enough to unblock talks on transition and trade agreements. There also remains the difficult and sensitive issue of the Irish border, but Irish Foreign Minister Coveney said U.K. and EU teams are discussing possible wordings for a commitment on the border issue, that would allow trade talks to move ahead. Ireland can still block the move at the December summit where heads of states will to sign off any possible deal. Main Macro Events Today EMU ESI confidence – Expectations – 114.6 up from 114.0 in October US Prelim GDP – Expectations – upward revision to a 3.2% rate of growth, versus the initial 3.0% print. BOE Governor Carney Speaks at 14:00 GMT and BOE Ramsden speaks at 14:45 GMT Fed Chair Yellen Testifies at 15:00 GMT Charts of the Day Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 28th November 2017. MACRO EVENTS & NEWS OF 28th November 2017. FX News Today European Outlook:Asian stock markets headed south again, as declines and energy and mining stocks led shares lower amid a further drop in metal prices. Concern China’s regulators may limit the flow of funds into Hong Kong’s stock markets adding to pressure. The China Securities Regulatory Commission is suspending approval of mutual funds that plan to allocate more than 80% in Hong Kong listed shares, according to media reports. The Hang Seng declined -0.65%, the CSP 300 was down -0.22%, against minimal losses in Nikkei and ASX 200. U.S. and U.K. stock futures are also heading south, as the U.S. tax debate gets underway. Oil prices are down and the front end WTI future is trading at USD 57.75. Today’s local calendar remains relatively quiet, but includes Eurozone M3 money supply, Canadian RMPI, US Housing Index, trade, consumer confidence, RBNZ Stability Report and lot of Fedspeeches. German import price inflation fell back to 2.6% y/y in October, from 3.0% y/y in the pervious month. Like the deceleration in HICP inflation that month the drop was largely driven by lower energy prices and excluding energy the annual rate actually rose to 2.2% y/y from 2.1% y/y. So a confirmation that energy prices continue to play a dominant role in headline developments, but also that underlying inflation pressures are slowly picking up again even on the import price front. U.S. reports: revealed a surprising 6.2% October new home sales climb to a hurricane-boosted 685k rate that marked a 10-year high, following a trimming in September’s prior cycle-high to 645k from 667k. Home sales rose 1% in the south despite huge prior gains, though we saw larger 6%-30% October gains in the other three regions. A preponderance of upside surprises in the construction and factory-sensitive reports through early-2018 given disaster-related rebuilding activity, are still widely expected. The Dallas Fed index bucked this boost however, as well as a likely lift from rising oil prices, with a headline drop to a still-firm 19.4 from an 11-year high of 27.6 in October, while the ISM-adjusted measure fell to 55.6 from a 57.9 October cycle-high. A small November drop-backs has been seen in most producer sentiment levels, though still-robust levels suggest upside risk to 3.0% Q4 GDP estimate, after an assumed Q3 boost to 3.5% from 3.0%. Main Macro Events Today US Consumer Confidence – Expectations – seen edging up to 124.0 from 125.9. September Case-Shiller home price index and the September FHFA home price index Canadian IPPI – Expectations –rise up to 0.5% in October (m/m, nsa) after the 0.3% decline in September. Fed’s Dudley and FOMC Member Powell and Harker Speech BoC Financial System Review – Governor Poloz and Senior Deputy Governor Wilkins speech at 16:30 GMT. RBNZ Financial stability Report Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 27th November 2017. MACRO EVENTS & NEWS OF 27th November 2017. FX News Today The end of the year is fast approaching. But, there is still a lot to be done over the next thirty days, with several important events and data reports to be assessed and digested before the markets can turn out the lights on 2017. One of the most crucial developments will be whether a tax reform bill can be crafted. Meanwhile, this week brings Fed Chair nominee Powell’s confirmation hearing, JEC testimony from Yellen, and an OPEC meeting. Political uncertainty in Germany will be an undercurrent ahead of Brexit talks in early December, with the EU Leaders Summit in mid-December, as well as ECB and FOMC meetings. And, a variety of top tier data on growth, inflation, production, and trade will help fine tune outlooks into 2018. United States: There’s plenty in the U.S. this week to pique interest heading into December and year end. The holiday shopping season kicked off in style on Black Friday with strong retail spending, both in brick and mortar shops and online, with estimates around $33 bln, according to Customer Growth Partners data, which would be a 4.9% y/y pick up. Along with the focus on holidays, attention will turn to Congress which returns from the Thanksgiving recess and will set to work on the tax bill. Additionally, Fed Chair Yellen’s give her final JEC testimony (Wednesday). The Senate Banking Committee also begins hearings on Fed chair nominee Powell (Tuesday). The Beige Book is on tap too. (Wednesday). As for data, revised Q3 GDP (Wednesday) will be a focal point. The November ISM (Friday) is estimated slipping to 58.3 from 58.7. November vehicle sales (Friday). October new home sales (Monday) are expected to drop 10% to a 600k pace unwinding some of the hurricane-distorted 18.9% jump in September to 667k. November consumer confidence (Tuesday) is seen edging up to 126.0 from 125.9. October personal income and consumption (Thursday) will help further fine tune GDP forecasts, and will also be important gauges ahead of the holiday shopping season. Other housing data is slated this week includes the September Case-Shiller home price index (Tuesday), the September FHFA home price index (Tuesday), and October pending home sales (Wednesday). Construction spending (Friday) likely rose 0.7% in October after a 0.3% September gain. Also on tap is the November Dallas Fed’s manufacturing index (Monday), which surged 6.3 points to 27.6 in October, as well as the Chicago PMI, which is projected falling to 61.0 in November from 66.2. Canada: Employment, GDP and the BoC’s Financial System Review headline a busy week of data and events. GDP (Friday) is expected to reveal a slowdown to a 1.6% Q3 pace of real GDP growth (q/q, saar) from the 4.5% growth rate in Q2. A slowdown in growth after the robust first half has been well-flagged by the BoC. Employment (Friday) is seen rising 20.0k in November after the 35.3k increase in October. The current account deficit (Thursday) is anticipated to widen to -C$20.0 bln in Q3 from -C$16.3 bln in Q2, as the nominal trade deficit ballooned in Q3. The industrial product price index (Tuesday) is expected to rise 0.5% in October (m/m, nsa) after the 0.3% decline in September, as energy and commodity prices moved higher while the loonie lost value against the U.S. dollar. September average weekly earnings are due Thursday. The CFIB’s November Business Barometer sentiment measure of small and medium firms is due out Thursday. Meanwhile, the Bank of Canada releases the Financial System Review on Tuesday. Governor Poloz and Senior Deputy Governor Wilkins will take questions from the press. Europe: November seems to be ending on an upbeat note with plenty of reason for cheer. Confidence indicators have surged higher; the recovery remains on track; the ECB is still in a generous mood and there are glimmers of hope on the political fronts as well. This month’s round of survey data concludes with the European Commission’s November ESI Economic Confidence Indicator(Wednesday), which after the very strong PMI readings, is expected to show a marked uptick, especially as preliminary consumer confidence numbers have already came in much higher than anticipated. The German labour market in particular is looking increasingly tight and a decline in the November sa jobless number is anticipated (Thursday) of -7K, which would leave the adjusted unemployment rate at a record low of 1.5%. Overall Eurozone numbers meanwhile are also improving and the unemployment rate(Thursday) is likely to dip to 8.8% from 8.9% in September. The HICP rates anticipated to rise around 0.2%, which would bring the German rate (Wednesday) to 1.7%, the Italian (Wednesday),French (Thursday), both to 1.3% y/y and the overall Eurozone rate (Thursday) to 1.6% y/y from 1.4%. Though still below the ECB’s upper limit for price stability, growth indicators looking stronger than anticipated, making the ECB’s decision to extend the balance sheet once again and to leave QE open-ended, seem questionable. Indeed, there are more and more signs that while the ECB is reluctant to commit to a firm end date, in the central scenario the next QE program that ends in September next year, will likely be the last. The calendar also has Eurozone M3 money supply growth, French consumption, German retail sales and another updated for French Q3 GDP. UK: There is a risk of Brexit-related disappointment into the EU leaders’ summit in mid-December. While an FT report early last week (citing sources) attested that the EU and UK have a breakthrough in the works with regard to agreeing on divorcing terms, doubts have persisted. The EU’s Juncker said Thursday “we’ll see” as to whether there has been sufficient progress to move forward at the December-4 meeting between May, himself and EU chief Brexit negotiation, Barnier. This week’s calendar brings October lending data from the BoE (Wednesday), the November Gfk consumer confidence survey (Thursday) and the manufacturing PMI survey (Friday). The lending data expected to show steady lending to consumers, both unsecured and lending secured on dwellings, while consumer confidence to nudge lower, and the November manufacturing PMI report, to stay unchanged from November and indicate ongoing expansion in the sector. Japan: October retail sales (Wednesday) are penciled in with a 1.0% y/y contraction after posting a 1.9% growth rate for large retailers. Overall sales are seen slowing to 0.3% y/y from 2.3% overall. October industrial production (Thursday) should rise to 1.5% y/y versus the previous 1.1% decline. October housing starts and construction orders are also due Thursday. The balance of releases come on Friday, with CPI figures headlining. The November manufacturing PMI, and November auto sales are also on Friday’s docket. China: official November CFLP manufacturing PMI (Thursday) is expected to slip to 51.4 from 51.6, while the November Caixin/Markit manufacturing PMI (Friday) is penciled in at 50.7 from 51.0. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 24th November 2017. MACRO EVENTS & NEWS OF 24th November 2017. FX News Today European Outlook: : Asian stock markets moved slightly higher in quiet trade. The rout on Chinese bond and stock markets that dominated Thursday’s session faded and the Nikkei managed a 0.12% gain as the yen weakened. Chinese bond markets declined somewhat, Treasury yields climbed higher, underpinning the USD. With most U.S. investors out for the Thanksgiving holiday and markets closed Thursday, trading in Asia remained lacklustre even as Japan reopened. European and U.S. stock futures are also moving higher, oil prices are up and the WTI future is trading at USD 58.47. In Europe, the calendar still holds German Ifo investor sentiment, which could come in higher than expected after the surprisingly strong PMI readings yesterday. There seems to be come movement in Germany’s political stalemate with hopes that the SPD may take back its “no” to a coalition with Merkel’s CDU/CSU and ECB’s Couere said the deposit rate will stay at -0.4% for a long time. Canada’s drop in retail sales volumes adds another hit the September GDP outlook. Retail sales volumes fell 0.6% m/m in September after an 0.5% decline in August and a 0.3% fall in July, contrasting with the gains from January to June. The BoC tagged a fading child tax credit boost as a key driver of the Q1 and Q2 consumption gains and subsequent drop off. There was a 1.1% tumble in wholesale shipment volumes. There was a 0.7% bounce in manufacturing shipment volumes. The contribution from construction production could be mildly negative, as housing starts fell 2.8% to a 219.3k pace in September from 225.6k in August. But the outlook for mining, oil and gas production is upbeat. Energy export values grew 7.2% m/m in September. The manufacturing report’s petro and coal shipments measure improved 10.3% m/m in September. But while we’ve seen some disappointing reports of late, the BoC has projected slowing in the second half after the robust first half. And the slowing, at this point, looks to be close to what they projected in October. BoC speakers have been clear that the economy, along with uncertainty over NAFTA, has led them to a cautious stance on further rate increases. Main Macro Events Today German IFO- Expectations – Business IFO falls by 0.1 to 116.6. US Markit PMI – Expectations –the November Prelim. Manufacturing PMI rising to 54.8 from 54.6 and the services reading to 55.5 from 55.3 ECB Vice President Constancio and ECB Coeure speech Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 23rd November 2017. MACRO EVENTS & NEWS OF 23rd November 2017. FX News Today European Outlook: Asian stock markets headed south, with the CSI 300 selling off and losing nearly 1.90%, dragged down by bond markets with Chinese yields on sovereign debt but also top-rated corporate notes at the highest level in three years and the 10-year is approaching the 4% mark. More than USD 1 trillion of local bonds mature next year and the bond market rout will make is very expensive for companies to refinance as the deleverage push gathers pace. The Hang Seng dropped -0.32%, the ASX closed unchanged, while Japan was closed for a holiday. With the U.S. also out of the picture today trading is likely to be quieter than usual. UK100 futures are down ahead of a busy local calendar with second readings for German and U.K. Q3 GDP alongside preliminary Eurozone PMI readings as well as French confidence data and the ECB minutes for the last policy meeting, where the ECB announced its new QE program. FOMC minutes showed concerns over low inflation, with worries that some of the softness could be due to more persistent factors. Remember this uncertainty has recently been brought up by Fed Chair Yellen. The minutes to the October 31 – November 1 meeting said “with core inflation readings continuing to surprise to the downside…many participants observed that there was some likelihood that inflation might remain below 2% for longer than they currently expected.” While that worry was the general thread, there actually was considerable hemming and hawing on whether the weakness was more transitory or was becoming perhaps persistent, as well as what to do about it. Nevertheless, “nearly all participants” affirmed a gradual approach to raising rates, which supports market expectations for a 25 bp hike at the December 12, 13 meeting. Policymakers noted continued strength in the labor market, along with moderate household spending, as consistent with above trend growth. Outlooks on wage developments were more mixed, but overall growth was seen as moderate. There was nothing in the minutes to negate expectations for a December tightening, although the fears that low inflation might be becoming more persistent support beliefs the FOMC might trim its dot plot to two tightening in 2018, from the current three.: The dollar faded further after the FOMC minutes, which showed concerns over low inflation, with worries that some of the softness could be due to more persistent factors. EURUSD topped over 1.1825, while USDJPY sank to 111.15. Main Macro Events Today German PMI – Expectations – the November manufacturing PMI falling to 60.4 from 60.6 and the services reading to 55.0 from 54.7. EU PMI – Expectations –the November manufacturing PMI falling to 58.3 from 58.5 and the services reading to remain stable at 55.0. UK GDP – Expectations – 0.4% q/q and 1.5% y/y growth rates. ECB Monetary Policy Metting Accounts CAD Retail Sales – Expectations – at 1.0% m/m in September after the 0.3% decline in August. Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 21st November 2017. MACRO EVENTS & NEWS OF 21st November 2017. FX News Today European Outlook: Asian stock markets rebounded from the weak session on Monday. Chinese shares in Hong Kong rallied on financial companies following, while the ASX 200 underperformed despite a weaker currency after dovish RBA minutes. U.K and U.S. stock futures are mostly slightly down, despite the positive leads out of Asia and reports that PM May is willing to double the “divorce” settlement to the EU to EUR 40 bln ahead of the December EU summit that could clear the way for early trade and transition talks. BoE’s Ramsden said last night that Brexit prospects are reinforcing the trend of declining productivity in the economy. In Germany there are more signs that another round of elections is underway, after Merkel said yesterday that whe prefers new elections to leading a minority government as both FDP and SPD still refuse to enter a coalition with the Chancellor. Germany’s political turmoil failed to dent confidence in the GER30 yesterday, but still has the potential to shake markets going ahead. Today’s calendar has public finance data out of the U.K. Market Summary: Trading was rather quiet to start the week, with little on the global agenda, and nothing on the US domestic calendar, to provide a spark. Markets were quick to shrug off the failure of German Chancellor Merkel establish a coalition government, while ECB’s Draghi continued to urge policy patience. Political uncertainty in Germany after news that Chancellor Merkel has been unable to form a minority government caused an early stir, weighing on equities and giving bonds a little bid. But, that was quickly shaken off after President Steinmeier stepped in to try and get parties back to the negotiating table. Beliefs the German economy was also strong enough to withstand any turbulence saw the GER30 rebound and Bund yields rise. Meanwhile, U.S. leading indicates leapt 1.2% in October, though reaction was typically minimal given the rebound from the hurricanes. Yellen also confirmed she plans to leave the Fed board as part of the expected handover to Powell. Canadian markets were generally hostage to these events, along with uncertainties over the U.S. political situation, and especially tax policies. Main Macro Events Today RBA – RBA Gov Lowe speaks at the Australian Business Economists Annual Dinner, in Sydney. UK Inflation & Public Net Borrowing – Expectations – Monthly government borrowing data expected at 6.6B Pounds. BOE Governor and MPC members testify on inflation and the economic outlook prior Parliament’s Treasury Committee. Canadian Wholesale Sales – Expectations – a rise at 0.6% from 0.5% seen last month. US Existing Home Sales – Expectations – seen rising 0.7% to a 5.43 mln unit pace from 5.39 mln previously. Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 20th November 2017. MACRO EVENTS & NEWS OF 20th November 2017. FX News Today Main Macro Events This Week After a couple of panicky moments in global equities over the past week, the markets will keep a wary eye on political developments. In Washington, the House passed its version of tax reform, but the process of reconciling that with a Senate bill could put a damper on the holidays. Political risks loom large in Europe too. Brexit remains a major uncertainty; Merkel has yet to form a government in Germany, while ousted Catalan leaders still have a chance in the December snap election. Trading should quiet this week, however, with the U.S. and Japan on holiday Thursday for Thanksgiving. There’s little on the economic calendars as well. United States: The economic calendar will be heavily front-loaded, especially on Wednesday ahead of the long Thanksgiving weekend. That will make for a frantic action packed early week of data. Leading indicators are expected to rebound 0.4% (Monday) in October from their 0.2% decline in September. The Chicago Fed National Activity Index is on tap for October (Tuesday), along with October existing home sales seen rising 0.7% to a 5.43 mln unit pace from 5.39 mln previously — in line with gains in other housing indicators in the month such as the NAHB index. The MBA mortgage market index returns (Wednesday), accompanied by October durable goods orders forecast to rise 0.5% vs 2.0% in September thanks to the hurricane rebound, or 0.4% ex-transportation. Initial jobless claims should resume their decline by 15k to 234k for the week ended November 18 (Wednesday), while final Michigan sentiment may be nudged to 98.0 in November from a preliminary 97.8, down from 100.7 in October. Rounding out the week are Markit PMIs (Friday). Canada: In Canada the data and event docket is fairly thin this week. September wholesale shipments (Tuesday) are expected to rise 0.7% m/m after the 0.5% gain in August. Retails sales (Thursday) are projected to rebound 1.0% m/m in September after the 0.3% decline in August. The ex-autos sales aggregate is seen rising 0.8% m/m on the heels of the 0.7% tumble in August. The wholesale and retail reports comprise the final two reports that directly inform the forecast for September GDP. As-expected reports would be consistent with the projection for a 0.1% m/m bounce-back in September GDP following the 0.1% drop in August and flat reading in July. For the quarter, GDP is tracking around 1.8% (q/q, saar), which would match the BoC’s Q3 estimate from the October MPR. Hence, the data this week should be supportive of current expectations for a very cautious approach from the BoC to removing accommodation. Europe: The data calendar includes the second reading of German Q3 GDP (Wednesday), widely expected to be confirmed at 0.8% q/q. And the breakdown, which will be released for the first time, will likely show ongoing robust domestic demand, but also a contribution from net exports to overall growth amid a strengthening world economy. Looking ahead, preliminary November PMI readings (Thursday) as well as the German Ifo (Friday) could ease slightly, but are expected to remain at high levels, consistent with ongoing robust growth in Q4 and going into 2018. The economic calendar also has Eurozone consumer confidence, French national confidence data and Italian orders among others. Events include a German 30-year auction, the ECB’s account of the last policy meeting and a wealth of ECB speakers including Draghi, Coeure and Constancio. Draghi and Constancio in particular are likely to continue to defend the ECB’s line that despite stronger growth the economy and inflation in particular still need ongoing monetary support, while others including Bundesbank President Weidmann would have preferred a clearer commitment to an end date for QE. UK: Time is ticking on the next deadline — the December EU leaders’ summit — for the UK and EU to agree on Brexit divorce terms. There remains little sign that an accord will be reached, however, and many signs of deadlock — not just on the final financial settlement but also the Northern Ireland border issue, which is starting to look like a major sticking point, with Ireland threatening to block the Brexit process entirely. The calendar this week brings monthly government borrowing data (Tuesday), the November CBI industrial trend survey (also Tuesday), the Chancellor’s mid fiscal year budget (Wednesday), the second estimate for Q3 GDP (Wednesday), and, finally, the November CBI distributive sales survey (Thursday). The CBI surveys, being relatively narrow in terms of respondents, will largely be overlooked by markets, while the Chancellor’s room for fiscal manoeuvre is limited. GDP data is expected to confirm the preliminarily estimated 0.4% q/q and 1.5% y/y growth rates. Japan:In Japan, the September all-industry index (Tuesday) is penciled in at -0.5% from up 0.1% in August. Australia: In Australia, it is a busy week for the Reserve Bank of Australia. The Bank’s Head of Financial Stability Kearns speaks at the Aus-China Property Developers Investors and Financiers event (Monday). Head of Domestic Markets, Marion Kohler, delivers a speech (Monday) to the Australian Securitisation Forum 2017. The RBA’s Assistant Governor (Financial System) Michele Bullock is a panel participant at the Women in Payments Symposium. The calendar is empty of top tier data, with Q3 construction work done (Wednesday) the lone highlight. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 17th November 2017. MACRO EVENTS & NEWS OF 17th November 2017. FX News Today European Outlook: The recovery on global stock markets continued in Asia overnight, with a round of positive earnings from U.S. companies reports and progress on the U.S. tax reform plan underpinning risk appetite. The Hang Seng outperformed with banks underpinned by optimism over new shareholding rules. Elsewhere gains were more muted however, and the Nikkei closed up 0.20%, while U.K. Stock futures are down, and U.S. futures narrowly mixed. Oil prices are slightly higher on the day and the front end WTI future is trading a USD 55.35 per barrel. A more cautious mood then on stock markets going into the European open and long yields declined in Japan and Australia. Bund futures extended losses in after hour trade yesterday, with Gilt under-performing and with BoE’s Carney repeating late yesterday that there will be more rate hikes, if the economy develops along expected lines, Gilts could well continue to underperform. Today’s data calendar has Eurozone BoE and current account data and Bundesbank President Weidmann is scheduled to speak. U.S. reports: revealed a surprisingly robust round of industrial production figures, with a 0.9% October surge after big upward revisions back through May, alongside a slightly larger than expected November Philly Fed drop to a still-solid 22.7 from 27.9, with a larger ISM-adjusted drop to 56.7 from 59.7. We also saw an unexpected 10k initial claims bounce to 249k in the Veteran’s Day week, though this week kicks-off the period of heightened volatility that extends through the MLK weekend. The October trade price figures proved weaker than expected despite oil import and food export price gains, perhaps partly due to the October bounce in the value of the dollar combined with some unwind of a prior hurricane-boost. The net upside surprise for the day’s reports was reinforced by a 2-point bounce in the NAHB index to 70, and a rise in the weekly Bloomberg consumer comfort index to 52.1 from 51.5. Main Macro Events Today ECB – ECB Pres. Draghi is due to speak at Frankfurt European Banking Congress. Canadian CPI – Expectations – rise to 0.1% m/m in October after the 0.2% gain in September. Furthermore, CPI is expected to dip to a 1.5% annual growth pace in October from the 1.6% pace in September (y/y, nsa). US Building Permits – Expectations – increase up to a 1.247 mln rate from 1.215 mln. US Housing Starts – Expectations – increase up to a 1.185 mln rate from 1.127 mln. Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 16th November 2017. MACRO EVENTS & NEWS OF 16th November 2017. FX News Today European Outlook: Stock markets bounced back during the Asian session, and the Nikkei gained nearly 1.5% as technology and telecom stocks led the way and a weaker Yen added support. Profit taking seems to have run its course and traders are leaving concerns about the progress of U.S. tax reforms and China’s slowdown and credit burden behind and refocus on positive corporate earnings. U.K. and U.S. futures are also higher, suggesting that global markets are set to recover some of the losses from earlier in the week. Yields still dropped in Asia overnight and Bund futures climbed higher in after hour trade, with Eurozone peripherals in particular likely to benefit from the return in risk appetite. The EUR is down from recent highs, but still hovering around the 1.18 mark against the Dollar. The local calendar has U.K. retail sales data and the final reading of Eurozone HICP inflation for October. FX Action: USDJPY has traded firmer so far today, rising concomitantly with stock markets in Asia. U.S. equity index futures are also up after the USA500 posted its biggest daily loss yesterday in two months. The yen has been correlating inversely with global stock markets this week, as it is apt to do during phases of pronounced swings in investor risk appetite. The weakness in the currency today has in turn injected extra buoyancy into Japanese stock markets, with the Topix index outperforming most of its regional peers with a gain of just over 1%. News that two U.S. senators (Ron Johnson and Susan Collins) have publicly criticised the tax reform bill may limit the rebound potential of stock markets, at least on Wall Street. Main Macro Events Today UK Retail Sales – Expectations – pick up to 0.1% for October, from -0.8% seen in September. EU Final CPI – Expectations – unchanged at 1.4% and core at 0.9%. Canadian ADP Non-Farm Employment Change & Manuf. Sales – Expectations – Manufacturing Sales expected to fall down to -0.4% from 1.6% last month, while Canadian ADP Non-Farm Employment Change will be released for the first time. US Jobless Claims, Production & Philly Fed index – Expectations – Jobless claims expected to dip to 235K, while Phily index expected ay 25.0 from 27.9 seen on October. BoE and FOMC – BoE Governor Carney is due to speak along with MPC members Broadbent, Cunliffe, and Ramsden about economics at various public schools, in Liverpool. FOMC members Kaplan and Brainard are due to give a speech in Houston an d Michigan respectively. Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 15th November 2017. MACRO EVENTS & NEWS OF 15th November 2017. FX News Today European Outlook: The sell off in global stock markets continued in Asia overnight, With Japan underperforming and the Nikkei closing with a loss of -1.57% as a stronger Yen added to pressure from profit taking as the year end comes into view. Concern over the rout in China’s bond market and the sell off in global commodities underpinned the decline. Oil prices continued to slide overnight, with the front end WTI future currently just barely above the USD 55.0 per barrel level. China’s 10-year yields breached 4% for the first time in more than three years yesterday, and while they are back below the key level amid a wider decline in Asian yields, there are fears more is to come. Yields in the U.S. and Europe also declined yesterday and with stock futures heading south bonds are likely to remain sought. The calendar today has the final reading for French Nov HICP and Eurozone trade data, but the focus will be on U.K. labour market and wage date, with BoE’s Cunliffe stressing late yesterday that the central bank needs clear pay growth evidence before hiking again. There is supply from Germany, which auctions 10-year Bunds after already selling 2-year Schatz notes yesterday and ECB speakers are also on the schedule. Japan’s GDP slowed to a 1.4% growth pace in Q3, nearly as expected following a revised 2.6% gain in Q2 (was +2.5%). Consumption spending fell 0.5% in Q3 (q/q, sa) amid poor weather conditions, after a revised 0.7% gain in Q2 (was +0.8%). Business spending rose 0.2% in Q3 (q/q, sa) after the 0.5% gain in Q2. Net exports added to GDP. This was the seventh consecutive quarter of GDP growth. The deflator grew 0.1% (y/y, sa) in Q3 following the 0.4% drop in Q2 and 0.8% decline in Q1. There was a flat reading (0.0%) in Q4 of 2016 and a 0.1% dip in Q3 of 2016. Hence, this is the first expansion in the deflator since the 0.4% rise in Q2 of 2016. USDJPY has slipped to 113.22 from 113.40 going into the report’s release. Main Macro Events Today UK Average Earnings – Expectations – a 2.1% y/y rise in the three months to September, and a 2.2% gain in the ex-bonus numbers that would still be lagging some way behind inflation. UK Unemployment Rate – Expectations – unchanged at the cycle low of 4.3% in September. US Retail Sales – Expectations – inching up 0.1% in October, with the ex-auto aggregate rising 0.3% following gains of 1.6% and 1.0%, respectively in September, which were also impacted by the hurricanes. Production and manufacturing data will also be of interest. US CPI – Expectations – rise to 0.1%m/m for October from 0.5% last month and with the core up 0.2% as energy prices moderate. Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 14th November 2017. MACRO EVENTS & NEWS OF 14th November 2017. FX News Today European Outlook: Asian stock markets trended lower in sluggish trading, U.S. tax reform developments remain in focus and disappointing manufacturing data out of China did little to boost sentiment. The Nikkei closed little changed, after swinging between gains and losses, the Hang Seng also moved sideways, while CSI 300 and ASX slipped, the latter despite solid business confidence data, which boosted the Aussie dollar and lifted bond yields. After a quiet start to the week, the calendar is heating up today, with German Q3 GDP data and final October inflation numbers at the start of the session, followed by U.K. inflation data, Eurozone production and Q3 GDP. Central bankers are meeting in Frankfurt Fed’s Yellen, ECB’s Draghi, BoE’s Carney, BoJ’s Kuroda are all scheduled to speak this morning. German HICP inflation was confirmed at 1.5% y/y, as expected, while German Q3 GDP much higher than expected at 0.8% q/q, up from 0.6% q/q and versus a median forecast of 0.6% q/q. A slight slowdown was expected in the quarterly growth rate as production dynamics seemed to have slowed down temporarily, but while there is no official breakdown, the statistics office reported that net exports were a major contributor to growth in the third quarter of the year, so external demand will have compensated for the somewhat more muted performance elsewhere over the summer. The annual rate jumped to 2.8% y/y. That the German economy continues to race ahead is evident in most data and orders suggest a renewed uptick in manufacturing in the last quarter of the year with growth rates exceeding potential going ahead. Main Macro Events Today UK PPI and CPI- Expectations – a fall to 0.3% m/m from 0.4% and a 2.4% y/y from 2.8%. German ZEW – Expectations -a slight improvement in the report up to 20.0 after rising 0.6 points to 17.6 in October. The current situation index should rebound to 88.0 after falling 0.9 points to 87.0 previously. EU GDP and Industrial Production – Expectations – unchanged at 0.6% q/q and 2.5% y/y for Q3 and a decline for industrial production by 0.6% , down to 3.2% y/y for September. Charts of the Day Support and Resistance Levels Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Date : 13th November 2017. THE ECONOMIC WEEK AHEAD. Main Macro Events This Week Global bonds and stocks generally declined last week, in large part on political and fiscal worries. Equities slid in the U.S. and Europe, with Wall Street posting its first losing week since September. Despite improved global growth, wrangling in Washington and anxiety over the Trump agenda, especially with the duelling tax plans, concerns over a potential ballooning U.S. deficit, along with Brexit-related angst, not to mention the political intrigue in Saudi Arabia, and rising oil prices, all saw investors fleeing key asset markets. These factors will keep trading choppy and cautious. United States: Politics and the debate on tax reform will remain front and centre this week, although there are several important data releases, as well as Fedspeak, and earnings announcements that will vie for attention. All eyes will be on Washington as the Republican controlled House and Senate try to reconcile their respective tax plans in time for a vote this year. There are several key economic releases this week that will help fine tune the outlook heading into year-end, with some of the disaster effects washing out. October CPI and retail sales (Wednesday) headline the calendar. Production and manufacturing data will also be of interest. Industrial production (Thursday) is expected to climb 0.7% in October, bouncing on disaster rebuilding, following the 0.3% September gain, with capacity utilization rising to 76.4% from 76.0%. The November Empire State manufacturing index (Wednesday) is seen falling to 24.0 after the 5.8 point jump to 30.2 previously. The November Philly Fed index (Thursday) should fall 3.9 points to 24.0 after rising 4.1 points to 27.9 in October. Also important this week will be housing starts for October, expected to increase to a 1.160 mln rate from 1.127 mln. Canada: Canada’s bond markets are closed Monday for Remembrance Day. Stocks markets are open. The calendar features September manufacturing (Thursday) and October CPI (Friday). The Teranet/National Home Price Index for October and the October existing home sales report are both due on Wednesday. ADP debuts its Canada National Employment report on Thursday. ADP’s U.S. report is a market mover, and the Canada edition is sure to generate considerable interest given the lack of direct inputs available for the Statistic Canada’s monthly jobs report. Bank of Canada Senior Deputy Governor Wilkins speaks on Wednesday to the Money Marketeers of New York in New York, NY. Her speech is titled “Monetary Policy Under Uncertainty.” The Bank publishes the biannual Bank of Canada Review on Thursday. Europe: Geopolitical risks weighed on markets last week and huge swings in peripheral long yields highlight that the ECB’s ongoing presence on secondary markets is leaving its mark and in times of weak supply is also likely to add to volatility. Rate hikes are not on the horizon until 2019, but the large number of ECB officials on the speaking circuit this week is likely to once again show that a growing divergence between the hawks and the doves at the ECB with the number of those urging a commitment to an exit to QE on the rise. Data releases include final inflation data for October, which are unlikely to hold major surprises. German HICP (Tuesday) expected to be confirmed at 1.5% y/y and the overall Eurozone HICP (Thursday) at just 1.4% y/y. Those will support arguments for the doves at the ECB. Still, growth indicators are robust and the first reading of German GDP growth for Q3 (Tuesday) is seen at 0.5% q/q, slightly slower than the 0.6% clip Q2. Also on the calendar are country GDP readings, including Italy and Portugal, among others, as well as Eurozone trade, BoP and production data.The most important indicator for the markets and the overall growth outlook will be the German ZEW readings for November (Tuesday). A slightly weaker than expected numbers would still suggest the German economy, in particular, is on course to steam ahead with above potential growth rates this year and next, making the ECB’s monetary policy position looking too expansionary for the Eurozone’s largest economy. These factors aren’t likely to impress the doves, however, who remain focused on still sluggish growth in Italy in particular. UK: The calendar this week is highlighted by the release of October inflation data (Tuesday). The BoE is anticipating CPI to decline to 2.4% in 2018 after 3.0% this year, and to ebb further to 2.2% y/y in 2019. The central bank is expected to hike the repo rate two more times over this period, though latest BoE agents report highlighted that wage demands are picking up — a backdrop that, should it sustain, could potentially see policymakers turn more hawkish. Labour market data is also up this week (Wednesday), where the unemployment rate anticipated unchanged at the cycle low of 4.3% in September. Attention will be on average household income figures given the BoE’s agents report shining of light on a possible sea change in the bargaining position of workers amid a tightening labour market. October retail sales data will round out the UK’s agenda this week (Thursday). China: In China, October industrial output (Tuesday) is seen at 6.0% y/y from 6.7% previously, while October retail sales are anticipated at a 10.4% y/y rate from 10.3%. October loan growth and new yuan loan data (tentatively Wednesday) should show the former at a 13.0% y/y clip from 13.1%, with the latter at CNY 900.0 bln from 1,270.0 bln. Japan: In Japan, the preliminary look at Q3 GDP (Wednesday) is penciled in at 1.5% q/q from 2.5% in Q2. Revised September industrial production is also due (Wednesday). It fell 1.1% in the preliminary print, versus a 2.0% August gain. Australia: The October employment report (Thursday) is expected to show a 20.0k increase employment after the 19.8k gain in September. The unemployment rate is seen at 5.5% in October, identical to the rate in September. The wage price index (Wednesday) is projected to expand at a 0.6% pace in Q3 (q/q, sa) after the 0.5% rise in Q2. The wage price index is seen growing at a 2.1% y/y pace in Q3 from the 1.9% y/y pace seen each quarter from Q3 of 2016 to Q2 of 2017. The 1.9% y/y growth pace is the slowest pace on record going back to the late 1990’s. Assistant Governor (Economic) Ellis speaks Wednesday. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.