Review of financial and economic press Investors

Review of financial and economic press: Investors are afraid of the recession in the eurozone

RBC-Daily

Investors feared a recession in the eurozone

the euro zone economy at the beginning of September is in a recession, it follows from the press release of the research company Sentix. It is dedicated to the publication of that index investors’ confidence in the euro zone. Index decreased for two consecutive months. In this case, the September figures were significantly worse in August. If last month’s index was 2.7 points, but this month it dropped to negative values, to -9.8 points. This is the worst rate since July 2013, the company said.

Entry into force of the new EU sanctions slowed Finland

Finland opposed the introduction of new sanctions against Russia, which is why the EU has to be postponed for a few days of their introduction. About this newspaper The Wall Street Journal citing a statement by Prime Minister Aleksandra Stubba. According to him, the Finnish position is that the EU should wait for the introduction of new economic sanctions against Russia. “Finland as a whole does not believe that now is the right time [for sanctions],” – said Stubb. He added that “more will be discussions about the extent to which [the sanctions] will be published in the Official Journal of the EU.”

Washington insists on the introduction of new sanctions against Russia

Washington insists that the US and EU imposed new sanctions against Russia because of the situation in Ukraine. ITAR-TASS reported with reference to the official representative of the National Security Council of the White House. According to the NSS officer, the US government “is in the same position, which on Friday laid out US President Barack Obama at the end of the next NATO summit.”

DW

German Chancellor: Sanctions – the only means of pressure on the Russian Federation

Sanctions are the only means of pressure on Russia. This opinion was expressed Germany’s Chancellor Angela Merkel (Angela Merkel) in broadcasted on Tuesday, September 9 interview with German radio station rbb-Inforadio. The direct participation of Russia in the Ukrainian conflict "very, very obvious"And its action should not be left without consequences. Nevertheless, the German government has no doubt that the military way this conflict can not be solved, said Angela Merkel.

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Frank is growing in spite of everything

Frank is growing, in spite of everything

The Swiss franc strengthened on Thursday, after the central bank abandoned the introduction of negative interest rates on deposits, but has confirmed his intention to defend the lower limit set by them for the euro / franc in 2011 at the level of 1.2000. Swiss National Bank has introduced a binding to the euro at the peak of euro crisis, after the massive inflow of foreign capital, streamed into the country in search of refuge. Exchange rate the Swiss franc against the single currency closer to parity, jeopardizing the future of Swiss exporters and intensifying downward pressure on inflation. The central bank promised to buy euros in unlimited quantities to stop the strengthening of the franc on the border 1.20. It was assumed that this measure will be temporary, but it’s been three years, and the upward pressure on the franc does not weaken. Moreover, it has even increased as stimulating monetary policy of the ECB is the euro devaluation. Frank crept close to 1.20 immediately after reduction by the ECB and the launch of a quantitative easing program announcement at the September meeting.

"The three-month Libor rate close to zero, so the minimum exchange rate remains the main instrument for regulating monetary conditions"- Central Bank officials said, adding that the economic situation is deteriorating, and the threat of deflation takes real shape of the strengthening of the franc. According to analysts, the SNB has refrained from intervening in the foreign exchange market, because in August the Central Bank’s foreign exchange reserves have not changed. Some investors had hoped that Switzerland will follow the example and the ECB will lower the deposit rate below zero, to weaken the franc – that is, financial institutions will have to pay extra for hosting central bank money in his accounts.

The Central Bank made it clear that they are willing to resort to such a measure. In addition, in an accompanying statement said that the Central Bank "I am ready to buy foreign currency in unlimited quantities"To achieve its political objectives, and, if necessary, take further measures without delay" – it says that the Bank is ready to act at any time, not only at regular meetings. However, until they decide to leave a negative rate reserve. "They keep abreast of"- shoals Michael Sneyd, strategist at BNP Paribas, but Dzheyn Fouli of Rabobank noted a high probability of intervention. A negative rates will remain as a last resort, in the event that the ECB will start an ambitious program of QE. Frank grew by 0.5% against the US dollar and by 0.3% to 1.2069 against the euro. Strengthening of the franc during the euro crisis is likely to have been due to the stampede of investors, but now it seems, is structural. Over the past year the currency weakly responds to risk aversion. Meanwhile, JPMorgan analysts noted that Switzerland has a chronic imbalance of payments, where the current account surplus is too high, so that it can be eliminated through capital flight. Source: Forexpf.Ru – Forex Market News

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Apple continues to fall already up to $ 97 15

Apple continues to fall: already up to $ 97.15

Today
Apple continued premarket
a fall. Yesterday, shares of the company worth
97.99 dollars, and today it is expected that
they will be traded for 97.15 dollars.
Apparently, all the same they were too
overrated: on the expectation of new products
share technical giant of the current
the year grew by 22%, but the market correction
not long to wait, and to 10
September immediately after the iPhone’s debut
5 s and 5 – shares retreated from
already at the top level of 2.3%.

Together
with “mom” went back and Asian
Apple’s suppliers in Taiwan
(Semiconductor Manufacturing Co – minus
1.6%, China AAC Technologies Holdings Inc –
minus 2.3%).

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5%…

5%

There is such a thing as self-synchronization. The bottom line is – if at some commonality of 5% per cent at the same time make an action – the others begin to repeat it. The theory can also be called CEDC – Enough general theory of management.

If the peacefully grazing herd horses frighten 5% of the individuals and “put them to flight,” the rest of the herd goes wrong with the place; If even 5% chance synchronous fireflies will flash, then there will also be a flash of a meadow.

This feature manifests itself in humans. Recently, British scientists set up an experiment: a large, spacious hall invited people and gave them the task of “navigate as you like.” And some were given a clearly defined task exactly how and when to move. Thus, it was experimentally confirmed that the 5% of people moving with purpose, can make the whole set to move in the same direction.

For Auto Sync requires that some set of objects has at least partly identical information and algorithmic state and were in conditions which allow the exchange of information between them – if unaddressed, circular. In this case, the speed of their response to the flow of information that is identical for all of them, should be high enough.

Incidentally, a similar experiment can spend each. It is enough to come to the concert with a group of friends and start to clap in sync in those moments when you want to, and the whole room will repeat for you.

Some practical conclusions from this: it is not necessary to make groups more than 20 people. 20/100% * 5% = 1 – this unit is the leader, the increase in the number of people entails a loss of control. In the audience, where people 30-40, the teacher will be very difficult to set the tone for a class and keep the group’s attention. This law can be applied to other situations, try, but do not rely on it. Nothing is absolute.

The launch of such a process is possible only when people are in a state of not realizing their actions, objectives and reasons. When the level of personal discipline, awareness, control is very low. And this is a structureless control when it is not necessary for each to say what he should do and how: enough 5% per cent, which will start the process of auto-syncing.

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European banks have found risky assets to $ 1

The European banks have found risky assets to $ 1 trillion. dollars

On the balance sheets of European banks, which are currently inspected by regulators, may be potentially unsafe assets to $ 1 trillion. This is the conclusion of Professor Stephen Alexander Berlin European School of Management and Technology (ESMT) and Dr. Josef Korte of the Goethe Institute in Frankfurt am Main.

Conductance regulator stress tests are not able to reveal the real extent of the risk in respect of sovereign bonds. Moreover, the fact that international regulations allow banks to consider them as risk-free, allowing supervisors to ignore this danger.

According to a study by Stephen and courts, 64 of Europe’s largest banks may have the balance sheets of risky assets associated with sovereign bonds, for a total amount of 806 billion euros ($ 1.04 trillion). And even despite the fact that banks can easily pass the last stage of the stress tests, the results of which will be announced in October, according to the authors of the study, they have too little capital, or, at least, very little excess capital.

"Banks too much invested in sovereign bonds, because they are amenable to the EU as the promotion and "banks are accumulating too much risk if they do not have to keep the capital, which reflects economic risks"- Stephen said. Results of the study Corte and Stephen testify that risks are localized within countries, which can cause a domino effect, when the problems of one country would entail a difficulty in other countries of the Union, like the case of Cyprus, where banks have invested EUR 5.8 billion in Greek debt, provoked a crisis that forced the island nation to ask for financial assistance to Europe and the International Monetary Fund.

According to experts, the majority of high-risk bank is located in Spain and Italy.

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Daily Economic Digest from Forex ee

Daily Economic Digest from Forex.ee

Daily Digest of economic Forex.ee

Keep an eye on major economic news with us

Thursday, June 8

Today the pair EUR/ USD It shows a fairly quiet trading, stuck in
range of 15 points near the level of 1.1260, after yesterday’s volatile session,
as markets were waiting for the main event “Super Thursday”. Today
It will feature several key events of this week, so
the near future, investors will remain cautious in making important
making, but during the day it is expected to increase volatility. The main
driver for the euro today will be the ECB decision on interest rates, especially given
into account the recent news that the regulator has lowered inflation forecasts
in 2019. Moreover, the market expects the ECB will also demonstrate M.Dragi
“Pigeon” attitude during the press conference, did not provide any information
on the early decommissioning QE program. In addition to the ECB’s decision on interest rates, investors are also
will closely monitor the results of the elections in the UK to be able to
more clarity regarding the position of Great Britain in the talks on Breksitu,
thereby also providing a pair of complementary pulse.

Couple GBP / USD today suspended its
4-day winning streak and retreated from two-week highs marked last
at the level of 1.2969, as markets remain cautious on the eve of one of the
key events this week – the election in the UK, which will form the
next vector of the pound in the medium term. The pair has traded fairly
quiet during the Asian session, as the market has already priced in victory
Conservatives, which would indicate the UK’s position in the negotiations
by Breksitu. no one party on the other hand, if the elections are not
attains an absolute majority, it could lead to a sharp drop
pound across the board, as will cause even more uncertainty
regarding the future UK policy. However, the positive effects of
victory of the Conservative Party may not last long, because
British Prime Minister takes the position T.Mey hard Breksita,
the results of which can also adversely affect the pound. In addition to the election
investors will now observe the ECB’s decision on interest rates, as
sudden movements EUR / GBP cross will be able to provide a pair GBP / USD further
momentum in today’s trading. Recall that the results of the vote
voters in the UK will be published during the next Asian
session.

Couple USD / JPY I was not able to continue his recovery
7-week lows marked yesterday at 109.12, after
I met resistance at the psychological level of 110.00. Today the pair
faced with strong pressure from bears after
Bloomberg news agency reported that the Bank of Japan adjusts its
policy in order to stop its massive QE program, but it does not indicate possible
the date of termination stimulate the economy. In addition, it seems that the market ignored
weak GDP data for Japan, which were presented during the Asian session.
The resumption of decrease in pair can be explained by caution in the market,
as investors prepare for “Super Thursday”, thereby supporting
safe haven. Further, nothing important data scheduled in the calendar for
couples, therefore general market sentiments, asked the upcoming events in the UK
and the Euro zone, remain a major factor for the pair in the given trading
session.

Couple AUD / USD It regained its upward
trend, retreating from their nightly lows placed at 0.7525.
It seems that the markets are already “digested” the weak data on the trade balance of Australia,
and the bulls were supported by the positive performance of Chinese exports and
imports, which allowed the pair to recover their losses night. Furthermore
the continuing softness of the US dollar and the recovery in copper prices also
helped restore the pair this morning. However, further increase pairs
It remains limited as markets remain cautious ahead of today
major risk events, such as elections in the UK and the ECB’s decision on the
interest rate. Looking ahead, the economic calendar today, the two did not
traders bring any major releases, so widespread market trend
will continue to determine the direction of further development of the pair.

Main events
of the day:

Parliamentary elections in the UK – 11.00 (GMT +3)

ECB decision on interest stavke- 14.45 (GMT +3)

ECB Press Conference – 15.30 (GMT +3)

The speech of the Bank of Canada S.Poloza – 18.15 (GMT +3)

levels
Support and resistance for the major currency pairs:

EURUSD P.
1.1168 C 1.1326

P. S. USDJPY 108.83 110.37

GBPUSD P.
1.2857 C 1.3017

USDCHF P.
0.9585 C 0.9707

AUDUSD 0.7470 P.
S. 0.7606

NZDUSD P.
0.7152 C 0.7228

USDCAD P.
1.3387 C 1.3585

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Overview Three books that every trader must read

Overview: Three books that every trader must read

You can not trade without having behind at least some of you have not gained experience. It is clear that the mistakes of others is difficult to learn, but at least to know how much will be two and two – is necessary. There is a list of books that are required reading for every trader. The three of them I wrote below. They are very different. One – almost classic practical guide, the second – inverting thinking and shocking material, and the third book – a classic trader Library, a thing of the discharge "capital" Marx, only much more interesting.

Overview Three books that every trader must read

John
Piper “
Road
to trading. ” This book is written
current highly
player in the market. The author reveals
the specifics of investment activity,
sequentially and detailing
theory and practice of professional
speculation. The book is structured accordingly
title: series revealed
first the most basics, the very beginnings of stock
trade, and then going on smoothly
the transition to a serious analytics. Reader
It has the ability to compare different
methods and choose their own, which
most suitable for him,
no dictatorship on the part of the author’s
This book is not found. It describes the
indicators and stop orders, control
risks and technical analysis, many
other key points in the stock market support
trade. The author teaches us to think and
feel like a successful trader – a
it is more important than just dry theory.
Separate chapters are devoted to this
instruments such as futures and options.

Overview Three books that every trader must read

Terry
Burnham. “Mean Markets and Lizard Brain”
.
This book – a very unusual textbook.
It teaches you that the person – is
biological system, which is extremely
irrational, and it is on the irrationality
first of all need to rely to
to achieve success in any market. before
you buy a share or bond, gold
or property, get a loan or
make a deposit – do you wish
take this book and how to look through a magnifying glass
through her situation. recommendations
Burnham you will definitely come in handy –
at least one of those reasons, it is always
it is important to look at the situation precarious
position. Burnham tells us that investment
preferences are often not amenable to
formal logic and look extremely
irrational. And this can be a good idea
earn!

Overview Three books that every trader must read

Edwin
Lefebvre. “Reminiscences of a Stock
speculator “
.
Book – fiction rather than
textbook, but I read in one breath
and perceived no worse than film
“The wolf of Wall Street”. In fact, this is also
biography of one of the greatest speculators
stock trading, trading legends
Dzhessi Livermora. first edition
“Memories” was published almost one hundred
years ago, in 1923. Today, it is one
of the most popular books in the financial
circle. Here we describe the markets and psychology
investment as
is, and
it can be seen that in the age of personal
not fundamentally changed. Psychology
crowd and racing market demand described
so clearly and transparently, as if it is
of panic, which happened just today.
In short, read this book is worth every
trader – just part of the overall
development. As a primer.

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USDJPY yen strengthened against US dollar

USD / JPY: The yen strengthened against the US dollar

The yen strengthened against the dollar after the US airstrikes inflicted on militant positions "an Islamic state" in Syria. Such a statement was made by Pentagon spokesman Rear Admiral Dzhon Kirbi. The volume of trading in the Asian session low today, as financial markets in Japan closed for the official holiday.

Couple USD / JPY It is under pressure due to the flow in the yen as the currency of refuge and complete the trade on the difference between the interest rates, financed by the yen, amid increasing risk aversion due to rising concerns about global economic growth. These concerns rose after China’s Finance Minister comments that the Chinese economy is facing pressure, but Beijing does not "will make serious adjustments in policy" due to changes in any particular economic indicator. Such statements are weakened expectations for aggressive policy easing.

The euro traded near a 14-month low against the dollar, in the pre-release expectations index Markit Eurozone PMI for September at 08.00GMT. Sentiment towards the euro deteriorated due to weaker-than-expected preliminary index of consumer confidence in the euro zone, which in September was 11.4 (vs. 10.5 against 10.0 in August). Also, the European currency is under pressure in the expectation that the ECB will continue monetary stimulus in the coming months.

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Exotic currency pairs minor but profitable

Exotic currency pairs: minor but profitable

Nobody argues that
the most liquid – International Forex Market
in the world. Similarly, it is an indisputable
the fact that the level of liquidity
It is largely the result of the relationship
in popularity of specific currencies. About
70% of trade transactions involve
a limited number of the most popular
currencies such as US dollar
(USD), euro (EUR), Swiss Franc (CHF),
British Pound (GBP) and Japanese Yen
(JPY). In addition, it is becoming popular
Canadian (CAD) and New Zealand (NZD)
dollar.

After these front
reaching rates in popularity are
currency pairs, called "crosses"
(Cross quotes), in particular containing no
US dollar (USD). Other
currency pairs are called "exotic".
bids on them are carried out with a smaller
volumes, participants in these trades
is limited contingent
traders. Interestingly, some
Even the Russian ruble referred to
exotic.

around trade
exotic currency pairs there
a number of myths, some of which are immediately
also discourage trading in Forex
traders and other errors lead to
erroneous conclusions. Try to understand,
what are the key characteristics from
these rates, try to dispel myths
and lead strong enough
arguments "BEHIND" trade "exotic"
and share experiences of innovation
approach to exotic trade
currencies.

The main difference – it
geographical origin of the currency.
Geographically exotic currencies
come from the following regions: Asia,
Middle East, Pacific
region and Africa. The most important
Trader technical differences exotics
from the majors and cross quotes:

1. Higher (from the point
Day of motion in points)
volatility.

This factor is
basic, and large amounts of other
important difference is its direct
or indirect causes. In exotic
currency – significantly different in comparison with the
American and European meaning
interest rates
Local central banks,
lack of activity, as a result of
which price may rise sharply
or fall, political and economic
medium with high volatility.

2. High values
brokerage commissions (spreads).

In good-quality and cost
brokerage commissions stable value
It has a direct relationship with the popularity
trading tool, as it is associated
with transaction costs.

The real problem,
that may occur is the lack of
information on currency movements. AT
the case of the majors and cross quotes trader accustomed to
work with more easily
information available – it very much
on the Internet, on TV. While both opinions,
analyzes and forecasts are available concrete
via the Internet almost non-stop mode,
in the case of the presence of such exotic
materials is very complex
task. And you have to collect information
bit by bit, and even a small amount
Amateur blogs do not help alleviate the
this task.

high volatility
– it is certainly very good. After all
the potential for earnings in volatile
and Non-Volatile markets varies widely.
But do not forget that volatile
Market – this is a very risky market.
Take for example the British pound.
For this currency can be seen daily
movement from 150 to 550 points. And if you take
exotic currency pair USD / ZAD
(Dollar / South African rand), then it
Daily movement can occur before
1,000 points in a day. But this is only
average value. And in the period of unrest
day step can reach from 7000 to
8000 points. Of course, in comparison with the
the British pound, you can do
good money. But, at the same time as
It mentioned above, together with the
potential earnings significantly
It grows and risk.

Sometimes trading
“Minor” prevents currency pairs
psychological factor. Everyone thinks:
“Why do I need it, when there is a sea
major currency pairs for which
enough information to
stable and so on? “At this time,
everyone is aware of how much trouble will
him that he would trade on
on the “exotic” currency market.

Why do we sell
“Exotic” when there is stable
major currency pairs?

1. First of all,
profit. Nor in any other currency
Forex pair you will not be able to obtain such
big profits in a short period
time as “exotic”. Of course,
If there are more at your disposal
the commercial capital, which you can
manipulated without fear of losing, then
you can easily trade in this case and
major currency pairs. But all things
things being equal, the potential
yield “exotic” significantly
higher than the major currency pairs.

2. At trade
minor currency pairs for
You have a wide horizon
actions. You can explore the inner
market of a particular country and on the basis of
develop a variety of
strategy.

3. Ability to use
exotic currency pair as a
an additional source of income.

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Asian markets did not show uniform dynamics

Asian markets did not show uniform dynamics

Today on
Asian trading was demonstrated
mixed. Following the publication of
Information about the growth of China’s GDP (the
unconvincing in the last five years)
Asian exchanges behaved
differently. Affected and local
causes.

For example, in Hong Kong
Tuesday night will be a meeting
student protesters with representatives
administration. Against this background, Hang
Seng added 0.1%.

Composite index
the region fell by 0.5%, but on the eve of
MSCI Asia Pacific added 2.2%
(This was the biggest rise since
September 2012.

Nikkei down
on 2%; Kospi lost 0.8%;
Shanghai Composite – 0,7%. Australian
S P / ASX added 0.1%, along
as already mentioned, Hang Seng.

Concerning
individual companies, for example, the Toyota
Motors Corp. It showed 1.6% bonus
fall (on the background growth of the yen against
majors). The same reason
1.5% and taken away from Sony Corp.

China
Mobile lost on the Hong Kong Stock Exchange
1.8%: it announced a profit reduction
Now for the past five quarters
contract.

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