• Entries: To fight for every pip, or not? Link
    ForexLive Sat 15 Dec 2018 18:37

    Trading successfully can be quite a challenge. Interpreting sentiment, understanding the fundamental outlook for a currency, pairing it suitably with another currency, and then managing your risk are all hard enough. However, once you have done all that a key question still remains: when and where should you enter the trade? How do you manage the entry, so you don't have to a) endure lots of drawdown and b) suffer too much financial pain if you are wrong? This article will consider when you shouldn't be for fighting for every pip in your entry, and when you should be.

  • Draghi celebrates 20 years of the euro Link
    ForexLive Sat 15 Dec 2018 18:32
  • May warns Merkel and Macron that Brexit deal is dead unless the compromise Link https://t.co/2gRcbY6kNp
    ForexLive Sat 15 Dec 2018 18:12

    Theresa May warned leaders including Macron and Merkel that the Brexit deal they struck is deal unless they made concessions, according to a person familiar cited by Bloomberg.

    A 15-minute meeting also included Dutch premier Rutte and Donald Tusk. May told them that the Irish border backstop needed to be fixed and include a firm end date. She said the DUP and members of her party will never support the current deal.

    The current structure of the deal gives the EU a de facto veto over leaving. May asked for a 12-month deadline on ending the backstop but it was shot down.

    The source said May could put the deal to parliament in a vote and allow it to be shot down.

    ForexLive
  • US interior secretary Ryan Zinke to leave White House Link
    ForexLive Sat 15 Dec 2018 17:37

    Reports began to circulate earlier today that US Interior Secretary Ryan Zinke was leaving the White House at year end. Shortly afterwards, Trump made the announcement on twitter.

    "Secretary of the Interior @RyanZinke will be leaving the Administration at the end of the year after having served for a period of almost two years. Ryan has accomplished much during his tenure and I want to thank him for his service to our Nation. The Trump Administration will be announcing the new Secretary of the Interior next week."

    Zinke is the subject of federal probes into his travel, political activity and potential conflicts of interest. He may have opted to leave with Democrats set to take over the House and planning to investigate him.

    There is talk that deputy David Bernhardt will replace him.

    ForexLive
  • ForexLive Americas FX news wrap: Retail sales beat but risk aversion dominates Link
    ForexLive Fri 14 Dec 2018 21:47

    Weak data out of China raised fresh questions about global growth in Asia-Pacific trade and it was all downhill from there. The US dollar was strong heading into the session and very strong retail sales did nothing to stall the trend.

    There was some heavy USD/JPY selling into the London fix as the pair quickly sank down to 113.40 from 113.60. Risk aversion hit harder later in the day and that extended the drop to 113.22 before a late bounce to 113.40.

    Cable remains a basketcase. There were reports that May got exactly nothing in Brussels and cable hit 1.2530 early in North America. May's office later denied it and that might have helped in a rebound to 1.2582 but some broader USD selling hit around the same time.

    EUR/USD was a laggard but the damage was done in Europe. After a second wave of selling sent it to a low of 1.1270, it recovered to 1.1305 at the end of the week.

    The antipodeans bore the brunt of risk aversion throughout the day and both took...

  • Another rough week for stocks: S&P 500 closes at worst since April Link
    ForexLive Fri 14 Dec 2018 21:21

    The big bearish engulfing candle last week was a dire sign on the weekly chart. Now with the close at the lowest since April, along with tax loss selling and hedge fund window dressing, it's not looking good.

    ForexLive
  • EUR/USD in a narrow range but next week's FOMC could be a game-changer - MUFG Link
    ForexLive Fri 14 Dec 2018 20:51

    MUFG Research discusses EUR/USD outlook and adopts a neutral bias but flags next week's FOMC as a possible trigger for reversing USD strength through next year.

    "The euro is continuing to stabilize at lower levels against the US dollar. A narrow trading range between the 1.1200 and 1.1500-levels remains in place for now. The ECB's latest policy meeting proved largely uneventful for the euro. The ECB was more cautious on the growth outlook but it was largely as expected as market participants have already pushed back the timing of the first expected ECB rate hike into 2020," MUFG notes. 

    "The main focus in the week ahead for the US dollar will be the upcoming FOMC meeting. If the Fed pare back plans for further rate hikes in 2019 and open the door to rate pause as early as in March, it could encourage a weaker US dollar," MUFG adds. 

    For bank trades, check out eFX Plus.

    ForexLive
  • CFTC Commitments of Traders: Yen shorts think twice Link
    ForexLive Fri 14 Dec 2018 20:41
    EUR short 56K vs 61K short last week.  Shorts trimmed by 5KGBP short 42K vs 40K short last week. Shorts increased by 2KJPY short 98K vs 110K short last week. Shorts trimmed by 12KCHF short 18K vs 20K short last week. Shorts trimmed by 2KCAD short 12k vs 13k short last week. Shorts increased by 1KAUD short 46k vs 51k short last week. Shorts trimmed by 5KNZD short 15K vs 21K short last week. Shorts trimmed by 6K
  • If you can't trust her tax returns, you can't trust her hips either. Link
    ForexLive Fri 14 Dec 2018 20:21

    You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

  • r*, u*, star of wonder, star of night Link
    ForexLive Fri 14 Dec 2018 20:16

    Back in August, Fed Chairman Powell piled into off a ridiculous few months of global policymakers mulling about what neutral rates were, or r*.

    Well that wasn't the only star on his mind. The WSJ writes that at the Fed's Christmas party this week, Powell and Vice Chairman Richard Clarida played and sang a duet on guitar.

    It was a take on the Barenaked Ladies' version of "God Rest Ye Merry Gentlemen/We Three Kings"

  • S&P 500 -52, nearly 2%
    ForexLive Fri 14 Dec 2018 19:41
  • S&P 500 on track for lowest close since April Link https://t.co/wRiAaQlcRc
    ForexLive Fri 14 Dec 2018 19:31

    The S&P 500 is down 43 points to 2607, which would be the worst close since April of this year.

    The October low is nearby with the December low not far away. It's another ugly day for sentiment and for the chart.

    ForexLive
  • S&P 500 on track for lowest close since April Link
    ForexLive Fri 14 Dec 2018 19:31

    The S&P 500 is down 43 points to 2607, which would be the worst close since April of this year.

    The October low is nearby with the December low not far away. It's another ugly day for sentiment and for the chart.

    ForexLive
  • Navarro: The Fed is moving far too fast Link
    ForexLive Fri 14 Dec 2018 19:31
  • Mass disruption to financial services is coming Link https://t.co/akE03E09Yx
    ForexLive Fri 14 Dec 2018 18:56

    The next great technological disruption is going to be in banking and brokerages. It's already underway and it's going to put massive amounts of money into people's pockets that was otherwise destined for banks.

    That's good and bad.

    Strong banks have money to lend and that credit helps to grow the economy.

    Bank fees are a different story. They've escalated to the point that consumers universally hate their banks. At the same time, interest on deposits has dwindled.

    The part of the industry that's prime for disruption is the fee-charging side. In the future you're not going to be paying for bank account transactions and securities transactions. You're also going to make money on your deposits.

    Robin Hood is at the forefront. The company currently offers US customers zero-fee stock trading. Yesterday it made a move into banking and said it will pay 3% on all deposits in savings and checking accounts. That also includes no-fee checking and...

  • NY Times: Chris Christie declines Chief of Staff role Link
    ForexLive Fri 14 Dec 2018 18:01
  • Baker Hughes rig counts at the top of the hour Link
    ForexLive Fri 14 Dec 2018 17:56
  • London/European traders head for the exits Link
    ForexLive Fri 14 Dec 2018 17:31
    The European stocks ending the day with declines for the day. In fact, they never traded in the black.  Having said that, they did recover off of lower levels. They were still down, but not so negative.
  • Could a group of Conservative MPs abstain in a government confidence vote? Link
    ForexLive Fri 14 Dec 2018 17:06

    117 Conservative MPs voted in a secret ballot to turf Theresa May, but do they dislike her enough to bring down the government and risk losing power to Labour?

    Buzzfeed report there could be a hardcore group of 20 of them that want May gone badly enough to do it. If the government loses a no-confidence vote it gets 14 days to try again before an election is called. During that time they believe they could force May to resign and another leader could run in the general election.

    "Sources in government and the pro-Brexit European Research Group agree there is a hardcore group of at least 20 MPs who are seriously talking about abstaining in the event of a confidence vote, in the hope of forcing a change of leader. They are said to believe an emergency Tory leadership contest could be held in 14 days to anoint a new Brexiteer PM," Buzzfeed reports.

    Others in May's party think a second referendum is the only way out of the quagmire but note that...

  • Morgan Stanley does not like the USD. What about the technicals? Link
    ForexLive Fri 14 Dec 2018 16:41
    Adam posted Morgan Stanley's view that the dollar would head lower.  They cite some plausible reasons for their assessment, but as most people realize, what we think most times does not play out the way we think.   That is especially true when we face things like China/US, Brexit, US/Europe, central banks, Pres. Trump, geopolitics, etc.  There are a lot of things that go into the formula.  
  • Trump: 'China wants to make a big and very comprehensive deal' Link
    ForexLive Fri 14 Dec 2018 16:31
  • Italy's Conte says he's confident of a positive solution in budget talks Link
    ForexLive Fri 14 Dec 2018 16:26
  • NY Fed GDP Nowcast largely unchanged Link
    ForexLive Fri 14 Dec 2018 16:26
  • Basis, the stable coin that funded Andreessen Horowitz and Bain shuts down Link https://t.co/YZcVsInLEe
    ForexLive Fri 14 Dec 2018 16:16

    The idea was to create a US dollar stablecoin to take on Tether and Gemini. However leaders announced the project would be dissolved today and the money returned to investors.

    "Unfortunately, having to apply US securities regulation to the system had a serious negative impact on our ability to launch Basis," a blog post by Nader Al-Naji, chief executive of Intangible Labs, said on Thursday.

    The company was trying to respect regulation and just couldn't do it. That's a worrisome signal for the 60-or-so other stablecoins in development. It's also a problem for Tether and the never-ending rumors of its demise.

    What's refreshing is that they realized there was always a regulatory risk and planned to return money to investors if it didn't work out.

    "The binary nature of our bet is precisely why we included a return of capital clause in our token sale to begin with, even though it was something we hoped we'd never have to rely on. So, while...

  • USD/JPY drops to the lows of the day in quick move into the fix Link
    ForexLive Fri 14 Dec 2018 16:01
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