Britains inflation rate dropped to the lowest since August, 2016, raising speculations that the Bank of England will have to take further measures to boost demand.To get more news about WikiFX, you can visit wikifx news official website.
  In addition, Britan‘s CPI grew 0.8% year-on-year, lower than economists’ expectations. The figure may kindle an even more heated debate over whether the central bank should introduce negative interest rate for the first time.
  HSBC downgraded its forecast of GBP/USD before the end of the year from the previous 1.35 to 1.2, while pointing out the risks including Britains fiscal well-being(as the worst of G10 members) and Brexit: euro is expected to rise from 0.81 to 0.87 against pound before the end of the year, the British government again dismissed the possibility of extending the Brexit transitional period, while it seems unlikely for the two sides to completely settle a free trade deal before the end of 2020.
  With Britain sinking into a severe recession and the economy in sluggish recovery, structural factors may further weigh on the pound.


Investors may be quite immune to lame marketing scripts such as“Invest US$300 and get US$3,000 of returns in 24 hours”. But when the scam broker claims to offer high returns for low brokerage rates, investors may not realize its a trap.To get more news about WikiFX, you can visit wikifx news official website.
Recently, an Indian investor complained against the broker Angel Broking for unjustified deduction from his trading account, hoping to bring the broker to justice. The complainant told WikiFX that he was attracted to Angel Broking for its so-called zero cost brokerage.

Angel Brokings advertisement on moneycontrol, an established Indian financial media
But not long after he made his deposits, investor received several confirmation text messages of account deduction generated by the broker, each time for 800 rupees.

Through observation, the investor found that every transaction from his trading account will generate an automatic deduction of account balance which goes to the broker. He complained that Angel Broking‘s advertisements about “zero commission” is an outright lie as they make unreasonable deduction of investor’s account and exploit investors trust.
  We may conclude that Angel Broking is an illegal broker which tries to lure investors to its trap with the bait of so-called “zero commission”. Per checking WikiFX App, Angel Broking is rated at only 1.20 and is currently unregulated, so please stay away!
In India‘s forex market, there are still many brokers like Angel Broking that try to scam investors by claiming to charge attractively low commissions. Major discount brokers in India like upstox and Zerodha are also being heavily complained recently for withdrawal failure, trading server lag and causing unjustified losses. Indian investors should definitely be more aware, as many investors choose a broker solely base on its commission, yet seldom pay attention to the broker’s compliance. Even some brokers on the regulatory list of SEBI are not necessarily reliable and worth-choosing. Stay tuned as WikiFX continues to present you latest exposures of Indian forex brokers.
  So far, WikiFX App has included profiles of over 18,000 forex brokers around the world, while integrating broker information query, exposure, news feed and other functions, offering investors 24/7 services.

Japan has fallen into recession as the financial toll of the coronavirus continues to escalate.To get more news about WikiFX, you can visit wikifx news official website.
  The world's third biggest economy shrank 3.4% in the first three months of 2020 compared to a year ago, its biggest slump since 2015.
  The coronavirus is wreaking havoc on the global economy with an estimated cost of up to $8.8tn (£7.1tn).
  Last week, Germany slipped into recession as more major economies face the impact of sustained lockdowns.
  Japan didn't go into full national lockdown but issued a state of emergency in April severely affecting supply chains and businesses in the trade-reliant nation.
The 3.4% fall in growth domestic product (GDP) for the first three months of 2020, follows a 6.4% decline during the last quarter of 2019, pushing Japan into a technical recession.
  More financial stimulus to come
  Consumers have been hit by the dual impact of the coronavirus and a sales tax hike to 10% from 8% in October.
  While Japan has lifted the state of emergency in 39 out of its 47 prefectures, the economic outlook for this current quarter is equally gloomy.
  Analysts polled by Reuters expect the country's economy to shrink 22% during April to June, which would be its biggest decline on record.
  The Japanese government has already announced a record $1 trillion stimulus package, and the Bank of Japan expanded its stimulus measures for the second straight month in April.
  Prime minister Shinzo Abe has pledged a second budget later this month to fund fresh spending measures to cushion the economic blow of the pandemic.
How can Japan turn things around?

  Japan faces a unique challenge as its economy has been stagnant for decades, compared to the more buoyant economies of rivals the US and China.
  Japan also relies heavily on exporting its goods and has little control over consumer demand in other countries which have been severely impacted by coronavirus lockdowns. Many of its biggest brands, like car firms Toyota and Honda, have seen sales slump across the world.
  Tourism, which has long been a boost to the Japanese economy, has also been hit hard as the pandemic keeps foreign visitors away. Japan has had more than 16,000 confirmed coronavirus cases and around 740 deaths.
  How does it compare to other major economies?
  Things look bleak for the Japanese economy in the short term, along with other major economies around the world. But despite being the first of the world's top three economies to officially fall into recession, the country actually appears to be doing better, or less badly, than other major economies.
  While economists predict Japan's economy will shrink by 22% this current quarter, they also predict that the US could contract by more than 25%. The 3.4% decline also compares favourably to the 4.8% the US suffered in the first three months of this year.
  This was the sharpest decline for the US economy, the world's biggest, since the Great Depression of the 1930s.
  China, the world's second largest economy, saw economic growth shrink 6.8% in the first three months of the year, its first quarterly contraction since records began.
  Both of those economies haven't yet been confirmed as having fallen into a technical recession, which is defined as two consecutive quarters of negative growth, but most economists expect them to in the coming months.

Forex scam keeps occurring recently, causing complaints against the brokers. Even OctaFX, which calls itself the "best forex broker", has been repeatedly criticized by investors and was even referred to as the "number one fraud company".To get more news about WikiFX, you can visit wikifx news official website.
  Yesterday, A *** R, an investor from India, told us about his experience. A *** R started trading currency pairs on the OctaFX platform at the beginning of 2020, and at first it was either a loss or a small profit. In March, A *** R made a considerable profit by trading XAU/USD. But the good luck didn't last for long, as the platform suddenly stopped XAU/USD trading on March 25th.

On April 9th, XAU/USD trading was resumed. During this period, A *** R submitted a withdrawal application because there was no profit, but unexpectedly, his application was immediately rejected by the system, and his following withdrawal requests remained "under review".
  When waiting for the matter to resolve, A *** R eventually lost his US$75,000 account balance. "Whether you make a profit or loss, money always belongs to the broker and you will never get it," A *** R concluded, saying that blinded by the desire to make an instant fortune, he did not check OctaFX's qualifications in before investing.
  According to WikiFX App risk reminder, OctaFX has been intensively complained in the past month, and has been listed as an illegal broker by WikiFX, with a score of only 1.90 points. The broker has a very short history, holding CySEC MM license for less than 2 years. Investors should watch out for it.

May 17th, from WikiFX. India's credit spread has widened year to date, hovering around 260 basis points which can put Indian rupee in a difficult situation in the coming weeks.To get more news about WikiFX, you can visit wikifx news official website.
  Markit India Manufacturing PMI and Services PMI both hit a record low in April, at 27.4 and 5.4 respectively. A reading below 50 usually indicates shrinking business activities.
  According to a survey by the Indian Economic Supervision Center (CMIE), the unemployment rate in India will reach a record high of 27.1%. In order to help the Indian economy severely affected by the epidemic, the Indian authorities have taken action in fiscal and monetary policies. To date, stimulus measures of about 1.7 trillion Indian rupees have been implemented, accounting for about 0.8% of GDP.
  India's credit spread has widened year to date, hovering around 260 basis points. This credit spread is basically the difference in yield between Indian AAA corporate bonds and the sovereign government bonds of the same level.
  With rising global economic uncertainties and the possibility for India to lift social distancing measures, the Indian rupee may face difficulties in the coming weeks.


The British Pound fell early into Asias Monday trading session, as forecasted by my colleague Daniel Dubrovsky. Renewed fear about a disorderly Brexit is amplifying selling pressure in the virus-hit GBP as the Bank of England hints at the use of negative rates. US equity futures pointed higher while APAC stocks traded mixed as the cycle-sensitive Australian Dollar jumped into the green at the expense of the anti-risk JPY.To get more news about WikiFX, you can visit wikifx news official website.
  British Pound Experiencing Political Fatigue
The British Pound may suffer as the UK faces internal political fragmentation following Prime Minister Boris Johnson‘s announcement of easing lockdown measures. Last month, in a broadcast reaching over 27 million Britons, Mr. Johnson changed the policy approach from “stay at home” to “stay alert”. This was implemented as a way to balance the public’s health with maintaining the countrys economic integrity.
  However, this been met with growing opposition from lawmakers, who are openly dissenting orders like those put forth by the government to reopen schools on June 1. Adam Price, leader of the Plaid Cymru Welsh outwardly expressed his defiance of Mr. Johnsons announcement:
  “Lets not beat about the bush…If you drove into Wales from England at the moment without a legitimate excuse you would get arrested. Many people would not have thought that it was even possible but it is the reality on the ground.”
  In Europe, the United Kingdom has the highest number of deaths at around 34, 546 and a case-fatality rate of 14.3 percent. Furthermore, renewed fear about the prospect of a disorderly Brexit has been weighing on the British Pound since last Friday, adding a spice of political uncertainty to the situation. For a more in-depth analysis, see my geopolitical outlook for the week ahead here.
  Euro Analysis vs British Pound: Outlook Bearish
  EUR/GBP may aim to challenge a key inflection range between 0.8986 and 0.9019 (purple-dotted lines). The pairs recent ascent has been in large part to do with fundamental forces pressuring GBP. If the pair clears this range with follow-through, the next ceiling to deconstruct may be between 0.9144 and 0.9178 where EUR/GBP previously stalled following its aggressive decline from the multi-month swing-high at 0.9417.

The anti-risk Japanese Yen and similarly-behaving US Dollar were some of the worst-performing major currencies on Monday. On the flip side of the risk spectrum, the sentiment-oriented Australian Dollar and New Zealand Dollar appreciated. As one might anticipate, there was a broad aggressive upbeat tone in sentiment over the past 24 hours. The Dow Jones and S&P 500 closed +3.85% and +3.15% respectively.To get more news about WikiFX, you can visit wikifx news official website.
  Recommended by Daniel Dubrovsky
  What is the road ahead for the Japanese Yen?
  Get My Guide
While market mood was generally upbeat throughout the session, the pace aggressively picked up tempo in late European and early North American trade. Reports crossed the wires from Moderna – a US biotechnology company – that a vaccine had ‘promising results’ in an early interim clinical trial. The doses triggered an immune response in eight healthy volunteers. The CEO of Moderna said the data ‘couldn’t have been better.
  The results likely brought forward expectations of a sooner-than-anticipated recovery in global growth. WTI crude oil closed at its highest in over 2 months. This is as China reported that oil demand at pre-covid 19 levels. Energy shares were the outperformers on Wall Street followed by industrial stocks. The Euro appreciated as Germany and France proposed a €500 billion coronavirus recovery fund.
  Discover your trading personality to help find forms of analyzing financial markets
  Tuesdays Asia Pacific Trading Session
  With that in mind, Asia Pacific equities may follow Wall Street higher. That could open the door for the Australian and New Zealand Dollars to expand upon gains over the past 24 hours. The AUD/USD may also look past incoming RBA meeting minutes after a rather tepid response to the rate announcement earlier this month. It may focus on broader sentiment instead. An upbeat tone may also bode ill for the Yen.
  Japanese Yen Technical Analysis
  USD/JPY may still be in a position to see gains pickup from a technical standpoint. Last week, prices pushed above a bullish Falling Wedge chart pattern. Follow-through has been somewhat lackluster, but prices seem to be pointing upward after testing near-term rising support from May 6 – red line below. That places the focus on immediate resistance at 107.77. Clearing the latter may pave the way for further gains.

KOL Analysis-Alex Ong」Forex Focus

By venynx, 2020-07-04

KOL Analysis-Alex Ong」Forex Focus

Alex Ong has been trading the financial markets for nearly 15 years and in this time, he has encountered and prospered in every type of event, economic cycle, central bank intervention or natural disaster you can think of. Alex is a seasoned professional with a wealth of trading and investment experience. Born into an affluent family with roots in the financial markets it is of little surprise that he has had so much success. As the Managing Director of a private investor fund he successfully steer the fund and its investors through the Great Recession of 2007 – 2009 and today spends his time trading his own book and teaching others to make money trading the markets. A technical analyst at heart, the majority of Alexs trading centres around chart analysis. He is of the opinion that for the most part trading opportunities can be found within the price and as long as you have a solid strategy and a calm head anyone can be successful trading Forex.To get more news about WikiFX, you can visit wikifx news official website.
  App is a third-party inquiry platform for company profiles.WikiFX has
  collected 17001 forex brokers and 30 regulators and recovered over
  300,000,000.00 USD of the victims.
  It, possessed by Wiki Co.,
  LIMITED that was established in Hong Kong Special Administrative Region
  of China, mainly provides basic information inquiry, regulatory license
  inquiry, credit evaluation for the listed brokers, platform
  identification and other services. At the same time, Wiki has set up
  affiliated branches or offices in Hong Kong, Australia, Indonesia,
  Vietnam, Thailand and Cyprus and has promoted WikiFX to global users in
  more than 14 different languages, offering them an opportunity to fully
  appreciate and enjoy the convenience Chinese Internet technology brings.
  WikiFXs social media account as below: