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The current Money Fall contest has already started on March 13, 2017 and will end on March 17, 2017. You can register for the next competition which will take place from March 20, 2017 to March 24, 2017. Note: Registration for the next competition finishes 1 hour before the contest starts.

EUR/USD Fundamental Analysis: March 15, 2017 The USD increased in value as the market anticipates the release of the FOMC rate announcement later today. As a result, the EUR/USD consistently weakened yesterday and has managed to break through 1.0650 points and is currently situated at just above 1.0600 points. A lot of analysts have been saying that the currency pair could possibly consolidate within the 1.0600-1.0700 barrier during the week of the FOMC statement and could possibly maintain its place within the region up until the end of this week. The expected rate hike this coming March is pretty much secured and what the market will be focusing now is the amount of hawkishness of this particular announcement, and this is where the uncertainty lies. The majority of market players have no idea on just how hawkish the statement should be in order to push the value of the dollar further. Nonetheless, the market expects that there would be some sort of clue on the Federal Reserve’s next move and if possible, hints on the next scheduled interest rate hike from the central bank. Of course, it would definitely be good news for the market if the statement outwardly gives out clues of the next rate hike, but then again the central bank is not known for such moves and could possibly state that the schedule of the subsequent rate hikes would depend on the status of various economic data in the future. The volatility of the EUR/USD pair could possibly be increased by the release of the CPI index data and the retail sales data. The currency pair could possibly drop to 1.0600 points and could even reach 1.0580 for a short period if the data comes out as positive.

GBP/USD Fundamental Analysis: March 14, 2017 Although the UK economy saw a lot of events and developments during yesterday’s trading session, this has done practically nothing to induce added activity into the GBP/USD pair. A slight bounce occurred in the pair during the previous session but this was automatically met with a selloff, especially since the bounce was somewhat thin and was unable to hold on and prevent the said selloff from occurring. The GBP/USD pair has however managed to surpass 1.2200 points and even managed to reach 1.2250 following market rumors that Theresa May might not be invoking Article 50 within the week. However, since there was no actual confirmation that the invocation would indeed be happening this week, the market became initially confused on the British pound’s rally and the lack of basis to this particular assumption has caused this bounce to eventually die out. In addition, there have been rumors swirling around that the British government might not accept Scotland’s request to hold an independence referendum, especially since the UK is already neck-deep in uncertainties and another referendum would only cause more disaster for the country’s economy. These series of events has caused the GBP/USD pair to retreat towards 1.2200, where it is currently trading. For today’s trading session, there are no expected data releases from the UK economy, while the US economy will be releasing its PPI data. However, all eyes will be on the FOMC rate announcement which is set to be released tomorrow. This, in addition to the impending invocation of Article 50, are both expected to keep the GBP/USD pair under pressure in the short term.

USD/CAD Fundamental Analysis: March 14, 2017 The USD/CAD pair spent most of yesterday’s trading session on a mostly ranging and consolidating manner, with the currency pair consolidating within the 1.3400-1.3500 region due to the lack of significant economic events from both the US and the Canadian economy. The market is now on a monitoring stance particularly on the USD and this has been reflected in the lack of any kind of activity in the USD/CAD pair. The market is currently waiting for the onslaught of the release of several economic data from the US tomorrow, with the most important release being the FOMC announcement where the central bank is expected to implement its first interest rate hike for the year. Aside from the FOMC announcement, the CPI data as well as the retail sales data will also be released tomorrow. The high expectations for an interest rate hike tomorrow has helped keep the USD/CAD pair to remain within its range highs. However, the market is not yet sure as to how much hawkishness will be needed for the USD bulls, and this has become somewhat problematic for the USD/CAD pair as the pair has difficulty calculating its move immediately after the FOMC data release. If the statement from the central bank comes out as satisfyingly hawkish, then the USD could boost its strength and could help the USD/CAD bulls to challenge the sells located at the pair’s 1.3500 barrier. If the data comes out otherwise, then the USD/CAD pair could possibly retreat to its previous trading range. For today’s session, the US economy is expected to release its PPI data which is not expected to induce added volatility into the pair.

EUR/USD Technical Analysis: March 13, 2017 The single European currency was able to remain in the driver’s seat following the hawkish remarks from ECB President, Mario Draghi. Moreover, the broad-based retracement of the greens open doors for the euro to recover few of its losses. The current rebound from region 1.0525 that pulled away the euro from the red. The EUR have sustained its winning position on Friday. The buyers were able to push 1.0600 during EU opening and advanced towards 1.0615 during the latter part of the day. The 4-hour chart presented the 100 and 50-EMA to ascend and come nearer to the 200-EMA. Moreover, the 50-EMA shifted towards the upper level, 100-EMA appeared neutral and the 200-EMA preserved a bearish trend. Resistance touched 1.0650, support is at 1.0600. The MACD histogram came in the positive territory. Upon maintaining this grounds, buyers will gain more strength. RSI headed north indicating an upward impetus. The euro indicated an overbought condition. Forecasts say that pullback is expected within the market in the near-term. The next focus is at 1.0550 mark.

EUR/USD Technical Analysis: March 9, 2017 The trend of EURUSD made little changes prior to the onset of ECB monetary policy meeting. The German Industrial Production came in green which provided minor support for the European currency. The bears continued to dominate the market on Wednesday. During the whole night of trading, the sellers persist in pushing the major lower and touching 1.0550 level in the earlier trades. While European traders struggled to break the mentioned handle. The 4-hour chart showed the pair cut through the 50-EMA towards a lower point. The timeframe also outlined the price was situated under the moving averages and directed downwards. Resistances landed at 1.0600, support is at 1.0500. The MACD histogram has its seat in the centerline. An entry towards the negative zone will signal increasing strength for the sellers. The positive territory, on the other side, will indicate buyer’s control within the market. RSI hovered around the neutral territory. Any action under the 1.0550 region would trigger bearishness to 1.0500 mark.

GBP/USD Technical Analysis: March 9, 2017 The House of Lords decided to allow the Parliament to exercise a veto with regards to the management of the Prime Minister towards the European Union. This resolution made some impact to the British currency. Moreover, Theresa May has to face another difficulty with the Brexit negations. The sterling remained flat during the Asian hours. The sellers spend the whole night accumulating strength for another support and pushed the price lower in the morning. The spot was removed from the region 1.2200 and progress lower prior to the opening of London session. The Cable was able to hold 1.2150 amid noon trades. As mentioned in 4-hour chart, the price resumed its development under the moving averages. The 50, 100 and 200-EMAs headed downwards. Resistance is seen at 1.220, support highlighted 1.2100. The MACD indicator decline as the sellers gained strength. RSI belong in the undervalued zone and expected to favor for a new lower trend. Based on the current flow, a scenario where a downward movement at 1.2100 is considered.

USD/CAD Technical Analysis: March 9, 2017 The Canadian dollar was able to preserve its stance compared with the US dollar yesterday. The loonie received some support from the positive figures of Trade Balance a few days ago. Investors wait with expectation for the statistics of US labor market which could establish a route for the USD/CAD. The pair was trading flat and toggled in the middle of the Wednesday night session. The price is positioned in tight channels of 1.3400 - 1.3430 all throughout the night. Moreover, the USD resumed its short-term bullish trajectory during the earlier trades. The major further pulled out from the 1.3400 region and rallied higher heading to 1.3470. As rolled out from the 4-hour chart, the price was developing beyond the moving averages. It further mentioned the 100 and 50-EMAs preserved its bullish pattern while 200-EMA move over the neutral grounds. Resistance touched 1.3470 mark, support hit 1.3400. The MACD histogram is positioned within the same level confirming buyer’s strength. RSI oscillator hovered near the overbought readings and expected to support a fresh upward movement The bullish market structure is expected to remain in its place in the short-term. Bulls’ next target is at 1.3470.

Canada’s Economy Lead Over other G7 Countries The Canadian economy is expected to gain 2.4% this year with equal expectations as of the United States and in the lead of other countries included in the Group of 7. The estimates were based from the Organisation for Economic Co-operation and Development (OECD) release. The international organization formerly mentioned about Canada’s possible economic improvement by 2.1 in 2017, which came in better and still appeared to be modest compared with the previous years of recoveries from economic decline. The Paris-based institution hike up its projections for the selected biggest economies in the world which further includes USA and China, however, its evaluation for the world economy kept steady at 3.3% versus 3% in 2016. Furthermore, the report mentioned that the US and Canada would likely outstrip other seven major economies which involve Germany as the next highest among the G7 with 1.8% growth in GDP. For 2018, it is expected that the U.S. economy will earn 2.8% and 2.2% growth for Canada. Moreover, the forecast for the global economic growth is said to be 3.6%.

Launching of Czech Version of ForexMart ForexMart team have upgraded the website by adding a Czech version using the country’s native language. We are glad to introduce the newest Czech translation on (Date), which could help Czech and Slovakian citizens to easily interpret and find important information about the company’s special offers, partnerships and pool of trading instruments. Clients could simply select the Czech language (or any other required language) by clicking the Czech flag on the language selector found in the upper right of the site.

USD/CAD Fundamental Analysis: March 8, 2017 The USD/CAD pair continues trading within a limited trading range near its range highs, which is the pair’s current trend ever since the start of the week. The stability of oil prices has helped the Canadian dollar maintain its current stance, but since the USD has been consistently regaining its strength, the bears are having difficulty in exceeding the bulls’ progress and this is why the currency pair is firmly in control, with the bulls dominating the USD/CAD pair. The Canadian trade balance data was released yesterday which came in at a value of 0.8 billion CAD which is very good news for the economy. The trade balance data from the US was als released yesterday and this reading somewhat fell short of initial market expectations/ However, neither of these data had a significant impact on the value of the USD/CAD even though the US dollar is now bracing itself for the onslaught of economic data releases later this week. Both the US and Canada will be releasing its employment data this coming Friday and market players are now preparing for the expected increase in volatility once the data gets released into the market. For today’s trading session, there no major news releases from the Canadian economy although the US will be releasing its ADP employment data and unless this shows a drastic shift in its economic readings, the USD/CAD pair would most likely continue its ranging and consolidation.

GBP/USD Fundamental Analysis: March 8, 2017 The GBP/USD pair continues to trade very weakly during the previous trading session. This could be initially attributed to the strengthening of the USD which was reflected across the board, but what has really affected the pound here is the fundamentals underlying the UK economy, as well as various uncertainties which is constantly putting pressure on the value of the GBP/USD pair. Once the Article 50 gets invoked, the Brexit process is pretty much locked in, and this means that there would be several negotiations between EU and UK leaders immediately after the invocation. UK leaders are expected to be stricter with regards to EU trade access since the majority of them would like the UK to realize the several benefits that it would lose once the country finally becomes a separate nation from the European Union. This uncertainty as well as the tediousness of the Brexit process is likely to take its toll on the GBP/USD pair and this is starting to become more evident as the currency pair continues its weak trading stance, with the currency pair just hovering over 1.2200 points. The UK will be releasing its yearly budget release today, and the country is expected to paint a pretty picture of their economy in order to boost public sentiment. This might give temporary resolve for the sterling pound but would eventually fizzle out as the fundamentals continue to put downward pressure on the state of the GBP/USD pair.

EUR/USD Fundamental Analysis: March 8, 2017 The EUR/USD pair continued with its ranging and consolidation movement for the second consecutive day, with this current trend expected to continue for the subsequent trading session as well. There are no major economic news releases happening within the international market which might influence the movement of the EUR/USD pair, and this is why the market has been incessantly seeing this ranging and consolidation. However, this particular movement coming from the currency pair is also part of the pair’s preparation for the onslaught of important economic data which are expected to be released in the middle of this week, especially since these economic data would most likely induce a lot of unprecedented volatility in the EUR/USD pair. So until these data gets released in the market, it is highly likely that the currency pair would continue consolidating. The USD experienced some minor corrections throughout the course of yesterday’s trading session, and this has become evident in the state of the EUR/USD pair after the currency pair dropped slightly in value and is now trading at just over 1.0550 points. The pair is expected to maintain its hold on this particular barrier as more buys are expected to come in at this region. This could also cause the currency pair to move towards 1.0600 points and will continue consolidating for the rest of the trading session. There are no major news releases expected from the European Union for today but the US will be releasing its ADP employment data later today. This employment data is usually touted as a precursor to the NFP report and although its importance is now being overlooked, it still serves as a necessary gauge on how the the NFP report would eventually pan out. Any fluctuations in this particular data are most likely to show in the NFP report as well.

Australia's Interest Rate Remained on Hold Australia kept its interest rates steady on Tuesday, March 7, because the property prices of Sydney continued to increase its risk which exceeded a much-lowered inflation rate. The Governor of Reserve Bank of Australia Philip Lowe concluded together with his board to remain the cash rate at 1.5 percent after a positive growth and optimistic performance in trading for the last three months of 2016. According to the poll led by Bloomberg, the decision were already projected by all 29 economists. Moreover, the housing demand in Sydney remained stable since buyers settled a property in the city which further ratcheted up debt records. The central bank decided to maintain its policy despite an extremely high house prices which partially stirred by the increasing population size coupled with the absence of family dwellings constructions. Furthermore, the country’s economy rose by 1.1 percent in Q4 versus the past three months and the 2.4 percent gained from a year ago.

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Philip Hammond to Allocate $676 Million to Boost UK Tech UK Chancellor Philip Hammond has announced that he will be utilizing Wednesday’s budget to offer more than 550 million pounds or over $676 million sourced from the National Productivity Fund in order to improve the country’s technology and innovation sector. The said funds will be directed to developments in robotics, artificial intelligence, and even electric vehicles, according to a statement released by the Treasury. In addition, Hammond also plans to improve 5G mobile network coverages in UK by way of this particular funding.

The current Money Fall contest has already started on March 6, 2017 and will end on March 10, 2017. You can register for the next competition which will take place from March 13, 2017 to March 17, 2017 Note: Registration for the next competition finishes 1 hour before the contest starts.

EUR/USD Technical Analysis: March 7, 2017 The common European currency strengthened on the back of the dollar retracement since investors did some profit-taking subsequent to the rally that occurred last week. The greenbacks continued to gain strength amid growing expectations about rate hike in line with the Fed meeting scheduled on March 14-15. All eyes are now turned to French presidential elections. The EURUSD stayed in a downward channel yesterday. Failure to break beyond the level 1.0550 would pull back some buying interest which could lead the spot upwards. Meanwhile, a soft tone near the USD provided an opportunity for Euro’s recovery. The EUR have rallied into certain regions till it touched the upper limit of 1.0650 range. The barrier stalled bull’s activity as they initiated period of consolidation. The renewed selling pressure crop up during the late of Europe and push the major below the marks 1.0600 to 1.0580. As outlined in the 4-hour chart, the 100-EMA were being tested by euro in the morning. Moreover, the 100-EMA moved lower while the 50-EMA headed upwards and the 200-EMA maintained a mild bearish tone. Resistance lies at 1.0600, support entered 1.0550. The MACD decreased confirming a sell signal. RSI oscillator is confined in the oversold readings and favoring a downtrend. Maintaining a level under 1.0600 may regain the 1.0550 support level.

GBP/USD Technical Analysis: March 6, 2017 The downbeat data of UK non-manufacturing PMI coupled with the growing expectation for the rate increase in US occurred on the back of British currency’s 6-week low recovery versus the greenbacks. Moreover, the sterling resumed its period of consolidation during the Asian trades took place on Friday. The price traded range-bound lower in a tight range of 50 pips. The sellers were able to push the GBP towards 1.2200 as it became active throughout the morning EU trades. The 4-hour chart continued its development under the moving averages while the 50, 100 and 200-EMAs drove lower. Meanwhile, the 100 and 50-EMA made a downward crossover to the 200-EMA. Resistance is seen at 1.2300, support highlighted 1.2200. The MACD histogram weakened which indicates seller’s strength. RSI came in the oversold territory, en route south. Technicals are expected to support a downward extension to 1.2200 level. The final break would suggest further weakness at 1.2150 region. The possible minor correction still predicted to happen if the spot appeared to be oversold. In order to ease the downward pressure, buyers may push the price through the mark 1.2300.

USD/CAD Technical Analysis: March 6, 2017 The US dollar made some minor adjustments on Fridays as it moves close to its seven-week high versus other majors. The growing expectations of US rate increase within this month provided support for the greenbacks. The focus was turned to the testimony of Fed Chair Janet Yellen. Moreover, the greens were able to maintain its winning position on Friday. The major came in green posting renewed highs during the onset of EU session. Buyers demonstrated an active movement this morning subsequent to the flat Asian trading as they drove the price upwards and gapped the level 1.3400. The USDCAD preserved a bid tone, touching its renewed highs eventually. The 4-hour chart presented the price extend its development on top of the moving averages while the MAs sustained a bullish pattern. The 100 and 50-EMA executed an upward crossover towards the 200-EMA. Resistance is at 1.3470, support entered 1.3400. The MACD increased which confirmed a buy signal. RSI have seen consolidated around the positive readings. In case that buyers dominate the market, the next target is 1.3470. In turn, the USD would likely pull back near 1.3330 mark.

Indian Economy Expected to Climb Over 7.5%, Mukherjee says Indian President Pranab Mukherjee mentioned that the country’s economic growth plays between 0 to 1 percent 50 years before the nation gained its independence. Mukherjee announced today that India is expected beef up higher than 7.5 percent this current fiscal year. The 81-year old President said in his lecture that during the 1950s, growth reached 1-2 percent, 3-4 percent in 60’s while in nineties the economic reforms climb higher by 6 to 7 percent. He further asserted that the Indian economy will boost within 15 years which makes India as the world’s fastest-growing major economy. The indication shown during the third quarter this year assured the possibility of an upsurge. The leader also said that this performance can be obtained from the efforts of laborers and farmers.

GBP/USD Fundamental Analysis: March 3, 2017 The GBP/USD pair has been nursing its wounds during the past trading session as the currency pair is still at a loss on what it needs to do in order to propel its value higher up the chart. The sterling pound has been experience a lot of pressure this week, with the shadows of the ongoing Brexit process hanging over the currency, especially since it is still uncertain whether the impending talks between EU and UK leaders would go smoothly or otherwise. The invocation of Article 50 is drawing nearer and once the line is drawn, there will be no returning for both the European Union and the UK. In addition to the pressure brought about by the Brexit, there have been also additional concerns that Scotland is planning to relieve itself from the UK, and though this has been nothing more than a rumor, it does not look like it’s going to die down any soon, and the USD is also undergoing a consistent rallying streak, another cause of trouble for the GBP/USD pair. The main reason behind the dollar strength is that the market is slowly getting used to Trump’s various eccentricities, and the Federal Reserve has also become increasingly hawkish, thereby cementing speculations that an interest rate hike is in the works. The GBP/USD pair is expected to remain under pressure during today’s session. The UK is scheduled to release its services PMI data today but the market’s main focus would be Yellen’s speech at the New York session. The market will be monitoring whether Yellen will be giving out indications of a March rate hike, and if this is the case, then the dollar would possibly continue rallying and send the GBP/USD pair towards 1.2200 points.

Investors Shift Focus from Trump Statement to Fed Movements Investors are now shifting their focus from Donald Trump’s Congress address to the timing of the Federal Reserve’s interest rate hike in spite of Trump’s speech lacking significant details. This has been a cause of relief for Japanese investors, since a shift in the market focus would offer some sort of buffer for the Japanese yen, whose value seems to be consistently weakening during the past trading sessions. The JPY increased its losses for the third consecutive day, while Japanese equities posted rallies during the past session.

Consumer Confidence of the Eurozone Plummeted The consumer confidence of UK for this month declined while the British currency weakened. The prices rose and wage growth dwindled which influenced the Britain’s economic powerhouse. The monthly household sentiment of GfK had a dipped and stayed below zero for the 10th month. The level for major purchases also decreased which implied that British citizens probably controlled their expenditures. Another assessment by YouGov coupled with the Centre for Economics and Business Research is the job security index which further decline reaching its lowest result three years ago. After the Brexit referendum, the private consumption as well as the services industry have compelled the economy, however, it set out some signs of economic strain. During the EU exit, the inflation increased as the energy cost climb higher together with the 16 percent cut in the sterling pound. Furthermore, the growth of credit had a steep decline in December whilst retail sales inched up at its slowest pace since January 2014.

EUR/USD Technical Analysis: March 1, 2017 The consumer price index of France inched up, however, it was unable to meet the projected level. While Italy’s rate of inflation remained consistent despite the forecasts about its potential decline. Moreover, the jobless rate in Germany is expected to decrease as mentioned by analysts and the German’s Manufacturing Purchasing Managers' Index is assumed to remain steady. The single currency was not able to make some reversal on Monday. Buyers touched the 1.0631 region by which the spot eyed some renewed offers. The price turned back under the 1.0600 level and posted its session lows near 1.0567 area amid Asian session. The EURUSD attempted to break the barrier in the European hours. The EUR made a slight recovery few of its losses during the night upon approaching 1.0600 in the mid-EU trades. The price is close to the 50-EMA as it positioned in the neutral zone during the earlier trading while the 100-EMA preserved a bearish pattern and the 200-EMA drove downwards. Resistance settled at 1.0600, support plunge towards 1.0550. The MACD is situated at the centerline. When the indicator pierced the positive region, the strength of the buyers will grow while an entry in the negative territory will signal sellers to dominate the market. The RSI appeared to be neutral. Furthermore, bullish momentum is possible to reclaim. The next target of the pair is 1.0630. The EUR/USD may resume its ascending movement to 1.0650.