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Andrea ForexMart

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  1. Andrea ForexMart
    USD/JPY Fundamental Analysis: March 30, 2017 The USD/JPY pair dropped in value during the previous session in spite of the US dollar’s strong outlook against other major currencies. The ambiguity in the US equity markets, as well as weak Treasury yields might have contributed to the weakness in the currency pair. A lot of investors are now going back to the safety of the Japanese yen, mostly because of the alarming concerns with regards to the French elections, Brexit negotiations, and Trump’s frustrated attempts to fulfill his campaign promises. The USD/JPY closed down the previous session at 111.042 points after decreasing by 0.083 points or-0.07%. For Thursday’s session, investors will be waiting for the release of the US GDP data as well as jobless claims data, in addition to comments from Fed officials including Kaplan, Dudley, Williams, and Mester. But of these four officials, the statement coming from Dudley is touted as the most interesting due to his position in the FOMC as a permanent voter. Dudley is expected to discuss topics such as the Fed’s monetary policy and the present financial climate of the US economy. For the meantime, it seems as if the Fed and bond investors have contrasting views with regards to the path of US interest rates. This could be partly attributed to bond investors overvaluing the Trump administration’s ability to help prop up the economy by way of highly-aggressive economic policies. The USD/JPY pair could receive additional support if the Republicans would manage to convince investors that they can actually turn Trump’s proposals into actual laws. However, any additional doubts with regards to Trump’s ability to fulfill his role as President could induce additional selling pressure.
  2. Andrea ForexMart
    POBA Acquires Brederode Worth W130b Public Officials Benefit Association (POBA), a local authority that manages the retirement funds of functionaries, were considered to be the bidder for Belgium-based venture company, Brederode worth 130 billion won (US$117 million), as mentioned by some sources on Tuesday. POBA is said to acquire 100 percent stake of the company from an unnamed real estate investment trust (REIT) for 74 billion won (US$66 million). While the other 56 billion won (US$50 million) will be used to finance a loan from a local financial organization. The association expects to obtain a 5% annual return derived from the transaction after six years. The office complex is made up of three 6-floor buildings comprises of 22,300 square meters. The establishment can be found at Brussel’s commercial centre city, near the Central Station and Belgian Royal Palace. The building has been permeated by six corporation which involves the global law firm, Linklaters LLP with more than 13 years of contract under Brederode. According to an unknown official from the Seoul-based organization, the company takes its focus on the real estate market in the European mainland on the back of Brexit triggered in the previous year.
  3. Andrea ForexMart
    Nigeria and Norway Seek Opportunities to Non-oil Sector investments Stakeholders from Nigeria and Norway looked for opportunities outside to increase direct foreign investments from the non-oil sector to uplift its economy and improve bilateral ties. The Nigerian Export Promotion Council (NEPC) assumed possible earnings as much as $18 billion by 2019 if properly executed. The Nigerian-Norwegian Chamber of Commerce (NNCC) was established to promote trade and investment to lessen the barrier and limit transaction risks between countries. Norway has an advanced industrial sector while Nigeria presents opportunities with high capital, agricultural sector, infrastructure, vast mineral resources and value added manufacturing. They complement each other moving towards the same goal of economic diversification from the conventional growth driver which is the energy sector.
  4. Andrea ForexMart
    AUD/USD Technical Analysis: March 29, 2017 The Australian dollar against the U.S. dollar declined in the beginning of Tuesday trading but turned around and found significant support level at 0.7587 with 61.8% Fibonacci retracement level. A bullish candle was seen and the market tries to move to higher towards the .7750 level and above. Later on, the market was able to break higher than the 0.7648 resistance level completing the downtrend from 0.7749 to 0.7587 level. It is more favorable to buy this pair with chances for a breakout in the gold market which traders are trying to attain and if they are successful in doing so higher than $1262 level, this would give higher returns to the traders. The current price could further go up towards the next target at 0.7700 zone while a break lower than the support level at 0.7587 could follow downtrend towards 0.7500 mark.
  5. Andrea ForexMart
    GBP/USD Fundamental Analysis: March 29, 2017 The GBP/USD had a very disastrous trading day yesterday as the currency pair crashed by over 200 pips following the USD’s recovery, as well as the nearing invocation of Article 50. A lot of market players have been saying that today will be a very interesting day for the GBP/USD pair as the Article 50 will be invoked later today, which will mark the start of the Brexit process and basically a point of no return for the British economy. The GBP/USD pair has seen a consistent buildup of shorts during the past week as the market awaits a very large drop today. However, the value of the GBP/USD pair is also consistently moving higher and increasing towards 1.2600 points. This is a potentially very risky combination and the effect of this combo manifested yesterday, wherein both the USD’s strength and Brexit-related concerns caused the currency pair to drop from its range highs of 1.2600 towards 1.2400 points, where the pair is currently trading. The USD recovered amid possibilities that the Trump admin might again try to pass the healthcare bill by seeking help from like-minded Democrats. Theresa May will also be signing the order for Article 50, and it will be interesting to see how the sterling pound will react to this most recent development in the UK economy. For today’s session, there are no major releases from both the US and the UK economy and this is why the market will be mostly focusing on the invocation of Article 50 and the subsequent reaction of the GBP/USD pair following the said invocation.
  6. Andrea ForexMart
    EUR/USD Fundamental Analysis: March 28, 2017 The EUR/USD pair crashed during the previous session as the pair corrected its current upmove which has been the pair’s trend for the past few weeks. The USD finally recovered across the board, resulting to sellers taking advantage of this occurrence and selling the EUR. The dollar strength has helped to propel the pair’s value towards 1.0800 points, therefore eradicating the pair’s previous gains which was made last Monday. Because of this, traders are now mulling over the fact that the EUR/USD pair could be in for more corrections as the sessions progresses. However, the market has no choice but to wait and see how the pair’s price action turns out in the next few days, particularly if whether the pair would continue its current trend of correction or if the pair backs down as it approaches its support barrier at 1.0800, where the currency pair is situated as of the moment. The USD remained weak last Friday up until Monday due to the repeated failed attempts of the Trump administration to pass the healthcare bill. However, the White House is now trying to make another attempt at passing the said bill after Republicans reached out to like-minded Democrats. In addition, the US economy continues to release a slew of strong economic data and this has caused the EUR/USD pair to fall further during the US trading session. For today’s session, there are no expected releases coming from both the EU and the US economy. However, the month-end flows are expected to come anytime soon as March comes to a close, and since the USD’s strength is expected to persist today, the EUR/USD pair would continue to remain under pressure with the 1.0800 range remaining the essential barrier for the currency pair.
  7. Andrea ForexMart
    EUR/USD Technical Analysis: March 27, 2017 The positive figures of Manufacturing and Composite PMI from the countries, France, Europe and Germany offered some strength to the single European currency. Particularly, German index which attained the strongest level for almost six years. Meanwhile, the greenbacks obtained a weaker position after the treasury yields inch lower in which provided further support for euro. The EURUSD continued to stay in the hands of the bulls on Friday. The EUR reached its lower limit in the ascending channel over the night and jumped higher. The price also spiked from the mark 1.0760 towards 1.0800 amid EU morning sessions and sit still in the New York trades. The 4-hour chart determined that the pair resumed its development on top of the moving averages as the 100 and 50-EMA preserved a bullish pattern while 200-EMA came in neutral. Resistance entered 1.0800, support touched 1.0750 region. MACD indicator strengthened which showed a buy signal. RSI oscillator edged upwards. In case the level 1.0800 broke, the next level would possibly be at 1.0850.
  8. Andrea ForexMart
    GBP/USD Technical Analysis: March 27, 2017 The recovery of the greenbacks coupled with the BBA Mortgage Approvals of UK place pressure towards the British currency on Friday. The Cable secured its bullish market position on Friday. The spot leaves the upper limit of the channel in the night and slowed down near its lower limit during the morning session of Europe. The GBPUSD kept steady amid the day maintaining its seat close to the 1.2500 region. The 4-hour timeframe illustrated the major stayed aloft moving averages, seeing the 100 and 50-EMAs to drive higher while 200-EMA turned neutral. Resistance touched 1.2500, support hit 1.2400. The MACD indicator grew less presenting weak position of the buyers. RSI oscillator sits next to the overbought grounds, confirming for a higher move. A move over the 1.2500 level would likely take an advance move towards 1.2600 mark.
  9. Andrea ForexMart
    USD/CAD Technical Analysis: March 27, 2017 The Canadian currency was unable to sustain its upside momentum as it currently endures the continuous weakening following the weak prices of crude oil. The greenbacks rebounded 1.3330 and reversed towards 1.3375 in which the buying impetus seems short-lived. The price headed back in the mid-session of Asia and begin to retreat afterward. The pair continued to decline amid early European trades and attempted to cut through the 50-EMA, nevertheless, failed to do so which caused it to reenter under the moving averages. Furthermore, the 50-EMA remain to move lower, 100-EMA appeared neutral and the 200-EMA headed upwards. Resistance covered 1.3400, support is at 1.3330. The MACD histogram was spotted at the centerline. On one side, an entry in the positive territory will favor buyers’ strength and on the negative grounds will allow sellers seize the control within the market. RSI was confined in the neutral area. A break under 1.3330 mark would indicate further weakening towards support level 1.3260.
  10. Andrea ForexMart
    ForexMart App is Now Available on Mobile You can now use the ForexMart application on mobile. We are launching ForexMart application on 11 january. It can be downloaded from both App store for Apple and Play Store for Android users. This allows users to trade anytime and anywhere at their own convenience by just connecting to an Internet service provider. More and more consumers are shifting toward mobile platforms with continuous improvement in technology. Forex trading apps simplifies trading and allows accessibility through mobile phone that makes it more convenient. There is still wide range of options in placing orders from mobile devices such as iPhone or Android. ForexMart app offers different features. Traders can access multiple charts that give real-time quotes as well as relevant economic news and latest forex analysis. Exchange rates over 100 different currencies are also available with buy and sell options. The application is especially designed for forex trading that is easy to navigate and works glitch-free for more efficient trading. Forex traders will find this app very useful and handy. Check out this new app from your App Store or Play Store!
  11. Andrea ForexMart
    Slew of Scandal Involvements Prompts Samsung to Apologize to its Investors Tech giant Samsung Electronics Co. issued an apology last Friday following the firm’s involvement in several national scandals that eventually led to the impeachment and eventual ouster of former South Korean president Park Geun-hye as well as the infamous recall of the company’s flagship smartphone, the Samsung Galaxy Note 7. In addition to the said apology, Samsung has also promised to improve its internal governance amid pressure from its investors. Samsung Vice Chairman Kwon Oh-hyun delivered the said apology during its annual shareholders’ meeting. Samsung heir Jay Lee was not present at the said meeting as he is currently facing several bribery and embezzlement charges.
  12. Andrea ForexMart
    South Korea’s Economic Expansion Remained Slow Amid Recovery in the Global Market In spite of signs of improvement in the global economy, Yongmaan Park, Korea Chamber of Commerce & Industry (KCCI), affirmed that South Korea still lack momentum for the early recovery. The KCCI chairman announced this in a National Assembly with the four of the main South Korean political parties held in Seoul. It became evident that the country is continuously suffering from a growth failure with the Bank of Korea based on the forecast of economic development at 2.5 percent for the current year, including an increase in jobless rate, high household debts and the penalties imposed by China with regards to missile row. Moreover, Park also mentioned that they are currently sustaining a growth rate with a range of two percent.
  13. Andrea ForexMart
    AUD/USD Technical Analysis: March 23, 2017 The risk-off market sentiment alongside the softening of copper and other commodities affected the Australian dollar on Wednesday. On Wednesday, the AUDUSD was neutral following the sell-off occurred on Tuesday. The sellers found a hurdle around 0.7650 mark. The handle slowed down the seller’s movement and the price was rejected. The spot was confined near the region as its progresses in an aimless manner. The commodity-linked pair tested the 50 and 200-EMA while the 50-EMA crossed on top of the 100-EMA touching the 200-EMA as shown in the 4-hour chart. Also, the 50-EMA preserved a bullish pattern while the 100-EMA shifted downwards while the 200-EMA showed signs of being neutral. Resistance entered 0.7700, support is at 0.7650. The MACD declined which confirmed the weak position of the buyers. RSI oscillator en route downwards. A break to 0.7600 region will pass the attention to the level 0.7550.
  14. Andrea ForexMart
    USD/CAD Fundamental Analysis: March 21, 2017 The USD/CAD pair merely continued its weak trading streak within a limited trading range as the currency pair awaits clues on its price action as dictated by its fundamental indicators. Previously, the USD/CAD pair had already dropped in value last week following the FOMC rate statement, which disappointed investors in general, and since then the currency pair has been unable to make any significant progress and if the pair does move forward, it will be more of a consolidation in order to recover its recent losses than any move towards a definite direction. The USD/CAD is currently trading at just over 1.3350 points, with the market expecting the currency pair to consolidate within the 1.3300-1.3400 region. The pair is expected to return to its wider trading range and could possibly reach 1.3000 points in the near future. The USD/CAD pair, along with other major currency pairs, are expected to consolidate within a much higher range in spite of their collectively high volatility levels. The Canadian economy has been consistently releasing a slew of positive economic data, and this is expected to be very good news for the Canadian dollar and could cause the USD/CAD pair to retreat to 1.3000 points. For today’s session, Canada will be releasing its core retail sales data, which will be closely monitored by market players as this will be an important gauge on the overall health of the Canadian economy. If the data meets market expectations, then the USD/CAD pair could retreat towards 1.3300 points and could be poised for more retractions depending on the strength of the said retail sales data.
  15. Andrea ForexMart
    Denmark Repayment of Debt After 183 Years The Scandinavian country, Denmark is scheduled to pay off its latest foreign currency loans with an amount of $1.5bn at the present moment. Freeing the nation from any debt obligations regarding FX which will happen for the first time in 183 years. Based on the records of the Danish central bank, the government almost paid the loan back in the year 1894, that was the time when the total of FX debt was lower than 1 percent of the GDP. Denmark had its first foreign debt during 1757 with a half a million worth of rigsdaler issued by Netherlands and Germany. Moreover, the external debt owed by the country expanded in order to finance 19th-century wars. Despite the repayment, the sovereign state is not fully clear from debt, except for all krone-denominated concerns. The debt-to-GDP ratio of the state as a whole is considered one of the least among the list of major economies in the European region, accumulated 38 percent and projected to drop about 36 percent for next year announced by the European Commission.
  16. Andrea ForexMart
    The current Money Fall contest has already started on March 20, 2017 and will end on March 24, 2017. You can register for the next competition which will take place from March 27, 2017 to March 31, 2017 Note: Registration for the next competition finishes 1 hour before the contest starts.
  17. Andrea ForexMart
    EUR/USD Technical Analysis: March 20, 2017 The Eurozone Trade Balance, particularly in Italy, presented negative results. While the greenbacks sentiment remained to be a major driver of the markets. The US dollar kept its stance near its lows on the back of slightly hawkish remarks of J. Yellen. The common European currency spiked amid the post session of New York last Thursday. The buyers lead the price higher and broke the level 1.0750. On one side, bulls successfully edged higher towards 1.0770 in the latter part of the day and decided to stop. The spot kept intact in a narrow range over the 1.0750 region. The neutral position was preserved amid morning session. The 4-hour chart presented the price to develop beyond the moving averages, as the 50-EMA showed an upward crossover to the 200-EMA. The 50 and 100-EMAs advanced upwards while 200-EMA is found neutral. Resistance is at 1.0800, support lies at 1.0750. The MACD histogram increased which suggested a buy signal. RSI have seen consolidated within the positive zone. It is expected that the outlook, in general, will remain to be bullish due to ascending trend en route 1.0800. Nevertheless, there still a possibility of reversal towards 1.0720-1.0700.
  18. Andrea ForexMart
    GBP/USD Technical Analysis: March 20, 2017 The upside bias continued to exist until Friday. Buyers stalled its activity during the night. Moreover, the night correction was considered as a profit-taking action of buyers who failure to hold its place. Bulls became active in the morning trades pushing the major near 1.2400 region and slowed down further. In line with the presentation of the 4-hour chart, the price cross above the 100-EMA and confined under the 200-EMA. Meanwhile, the 200 and 100-EMAs remained to be in a bearish pattern, 50-EMA directed up as mentioned in the chart. Resistance highlighted 1.2400, support entered 1.2300. MACD indicator strengthened confirming for a buy signal. The RSI consolidated around the positive area. Should the GBP/USD pair accomplish to breakout from the 1.2400 mark, the next focus is 1.2500 resistance region. However, there is an outside chance for a move on top of 1.2400 due to an overbought condition. Due to this probable scenario, the Cable is expected to reverse at 1.2300.
  19. Andrea ForexMart
    Germany and Japan Promotes Free Trade Deal German Chancellor Angela Merkel and Japan’s Prime Minister Shinzo Abe discussed free trade between countries on Sunday’s major technology fair. Both representatives would like to aim for a faster pace regarding this matter and wanted to have an agreement in this year while G20 finance ministers and central banks commented an open trade during their two-day conference in Germany. The issue of Protectionism was avoided by both leaders in the beginning of the CeBIT technology fair, implying that people are currently more open with regards to free trade and open borders with giving importance to democratic values.
  20. Andrea ForexMart
    AUD/USD Technical Analysis: March 20, 2017 There is no expected economic release scheduled from the Australian dollar on Friday. Investors were in a wait-and-see mode for the RBA Meeting minutes scheduled on Tuesday. Moreover, the offered tone near the greenbacks provided strength for the Aussie. Buyers found a hurdle around 0.7700 but needed to leave off their gains.The major rebounded and stalled on top of 0.7660. A bout of renewed buying pressure came up during Friday’s Asian session. The AUD/USD were pulled back by the buyers towards 0.7700 removing its current losses. The 4-hour chart determines the price continuously develop above the moving averages as the 200 and 50-EMA directed higher while 100-EMA seems neutral. Resistance entered 0.7700 level, support holds 0.7650 mark. The histogram preserved in the same region favoring buyer’s strength. RSI indicator is situated close to the overvalued area which confirms another move lower. After making a gap on top of 0.7700, the next will be 0.7750. Failure to post its fresh gains could possibly occur some profit taking. The AUD would likely weaken reaching 0.7600-0.7620.
  21. Andrea ForexMart
    Canada’s Morneau to promote Canadian Economy in US Canadian Federal Finance Minister, Bill Morneau is preparing for disclosing the details regarding his second budget scheduled next Wednesday, March 22nd. The budget is tabled in the House of Commons by which senators and members of the parliaments from Canada are expected to attend the 3-day meeting in the US. The meeting will also be attended by more than 70 lawmakers from the United States with the purpose of boosting economic interest of Canada. According to Wayne Easter, a member of the Liberal party and head of Canada-United States Interparliamentary group said that the trip is intended for discussing the plan for the two economies and not primarily for the budget date. The 67-year old Easter also stated that they were able to make some progress, however, there are other relevant issues that deal with challenges.
  22. Andrea ForexMart
    GBP/USD Technical Analysis: March 17, 2017 The market mainly focused on the meeting of the Bank of England about its monetary policy decision. Investors anticipate that regulator will keep an unchanged rate and does not assume any other surprising events. The market became bearish yesterday. Investors believe that the sterling should be lifted on top of 1.2300. The major stayed near the barrier and moved downwards during the first part of the day. The Cable preserved an ask tone throughout the day. According to the 4-hour chart, the GBP/USD broke the 50-EMA and tested 100-EMA afterwards. At the same, the 100 and 200-EMAs drove lower while the 50-EMA came in neutral. Resistance is found at 1.2300 level, support is at 1.2200. The histogram made its entry to the positive territory. Upon maintaining this position the buyer’s strength will increase. The RSI consolidated alongside the overbought readings. Moving downwards near the 1.2200 level would the be the next possible scenario.
  23. Andrea ForexMart
    Peruvian Economy Beef Up Reaching 4.81% Growth In January 2017, the economy of Peru rose up to 4.81% which indicates the progressive the country’s growth for 90 months. The surge was supported by the excellent performance from the primary sectors, particularly fisheries and mining based from the National Institute of Statistics and Informatics (INEI) report released on Wednesday. Head of INEI, Anibal Sanchez have said that the GDP of Peru gained 4% for the past 12 months from the months of February 2016 until January 2017. During the first month of the year, the hydrocarbons and mining industry grew by 14.75%, at the same time the fishing activity boosted by 42.17%. The economic development exceeded analysts estimates of 4.5% based on the Reuters poll. The upbeat figures were underpinned by the growth in foreign demand which proves 8.09% increased for total exports.
  24. Andrea ForexMart
    Puerto Rico G.O. Bonds Dropped to its Lowest in 2 Months Puerto Rico’s General obligation (GO) bonds dropped after the financial recovery plan has been approved which is comprised less than a quarter of total unpaid debts. The revised proposal was granted by Governor Ricardo Rossello on Monday aiming to cut the chronic budget deficits. Securities due 18 years from now which is the most traded has declined by 5 percent with an average of 67.5 cents on Tuesday, its lowest price in two months while those bonds due after 22 years fell to 60.2 cents from 63.8 cents on Monday. This plan will mark as the benchmark as they talk through on minimizing its debts. Although the outcome is negative, the authorities are still sanguine with the end result. The governor commented that the as of now, the country has chances to deal with various bondholders at different levels and they are still in the process of evaluating the best most suited solutions in consideration of bondholders and the people of Puerto Rico.
  25. Andrea ForexMart
    Iceland's Jóhannesson Urges to Cut Interest Rates Benedikt Jóhannesson, minister of finance in Iceland, have affirmed that the nation’s central bank had to slash interest rates another time in order to ease the pressure weighed on Icelandic krona (ISK) together with the removal of capital controls. Jóhannesson also mentioned that he does not have any “influence” regarding this decision as the government have taken these actions to lessen the pressure against the economy, as well as to prevent overheating, to the extent of rising of budget surplus. On one side, the administration hopes that the steps to cool down pressure on krona will be sufficient to realize more foreign investments for the pension funds. The ISK increased by 17 percent versus the European currency on the previous year, it was able to climb higher due to burgeoning record of tourist inflow. On Monday, krona plummeted by 3 percent while bond yields rack up. The recovery of the currency was recorded on Tuesday in the capital city of Reykjavik with an increase of 0.6 percent. The financial and legislative precautions were implemented as no one can say when will the country would experience the crisis again.
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