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Forex News
  • New Zealand GDP Rises 0.5% On Quarter, 2.1% On Year

    New Zealand's gross domestic product expanded a seasonally adjusted 0.5 percent on quarter in the second quarter of 2019, Statistics New Zealand said on Thursday.

    That exceeded expectations for an increase of 0.5 percent although it slowed from 0.6 percent in the first quarter.

    On an annualized yearly basis, GDP climbed2.1 percent - again beating forecasts for 2.0 percent and slowing from 2.5 percent in the three months prior.

    Growth was led by the services industries, which grew 0.7 percent following a 0.3 percent growth in the March 2019 quarter. Primary industries also rose 0.7 percent, following two consecutive declines. Goods-producing industries fell 0.2 percent this quarter, following a 1.9 percent rise in the March 2019 quarter.


    The material has been provided by InstaForex Company - www.instaforex.com
  • *New Zealand GDP +0.5% On Quarter, +2.1% On Year In Q2

    New Zealand GDP +0.5% On Quarter, +2.1% On Year In Q2


    The material has been provided by InstaForex Company - www.instaforex.com
  • Australia Unemployment Data Due On Thursday

    Australia will on Thursday release August figures for unemployment, highlighting a modest day for Asia-Pacific economic activity.

    The jobless rate is predicted to hold steady at 5.2 percent, with an increase of 15,000 jobs following the gain of 41,100 jobs in July.

    Japan also will see July results for its all industry activity index, with forecasts calling for an increase of 0.2 percent on month following the 0.8 percent contraction in June.

    New Zealand will provide Q2 numbers for gross domestic product, with forecasts suggesting an increase of 0.4 percent on quarter and 2.0 percent on year. That follows the 0.6 percent quarterly increase and the 2.5 percent yearly gain in the three months prior.

    The central bank in Indonesia will wrap up its monetary policy meeting and then announce its decision on interest rates; the bank is widely expected to keep its benchmark lending rate unchanged at 4.75 percent.


    The material has been provided by InstaForex Company - www.instaforex.com
Company News
  • Results of four InstaForex contests rounds summed up We have determined four winners of interim stages of InstaForex contests

    We have summed up the results of interim stages of four InstaForex contests and determined the winners. We are ready to unveil the names of traders who outperformed other contestants in InstaForex Sniper, FX-1 Rally, One Million Option, and Lucky Trader contests.

    InstaForex congratulates the winners and wishes good luck to all the other contestants!

    InstaForex Sniper


    The keenest and fastest traders compete in InstaForex Sniper contest. This time, Osama Hamed Ibrahim Mousa from Egypt took the lead. He outpaced his rivals and came first. We congratulate the winner and rejoice at his success! Don't hesitate to participate. You can also be the winner! Hurry to register for the next stage of InstaForex Sniper contest that will be held from September 23, 2019 to September 27, 2019.

    One Million Option

    One Million Option is one of the most popular contests offered by InstaForex. It attracts a lot of participants, thus creating a strong competitive spirit, excitement, and adrenaline. True optimists compete for the title of the best option trader in a hot struggle. We are pleased to announced that Valery Kuzishin from Ukraine won the latest stage of the contest. We congratulate the winner and remind that the next stage of One Million Option from InstaForex will start on September 16, 2019 and come to an end on September 20, 2019. The contest is held weekly.

    FX-1 Rally

    Dmitrii Nazimov from Russia came first in a regular stage of FX-1 Rally contest from InstaForex. We congratulate the winner and wish him to keep up the efforts and confirm the title of the best pilot in the next stages of FX-1 Rally. If you are not afraid of a tough fight and are ready to take part in a breathtaking race for leadership, you are welcome to the start of the regular stage of FX-1 Rally! You can register and participate in the next race that will be held from 00:00 on September 20, 2019 to 23:59 on September 22, 2019.

    Lucky Trader

    A steady hand and striving for success are the keys to the victory in two-week Lucky Trader marathon. If you can hold a perfect trading session within Lucky Trader contest and spend two weeks for it, as Igor Gerasimov from Russia did, you will also get a chance to triumph in one of the stages. We remind you that the next stage of the competition runs from September 30, 2019 to October 11, 2019.


    Learn more about InstaForex contests

    Photos and comments of contests winners


Forex Analysis
  • GBP/USD. Weak inflation and harsh statements by Junker: what is the secret of the pound's "stress resistance"?

    The pound moved away from its peak of the week and month (1.2526) against the dollar today, returning to the framework of the 24th figure. In general, during the European session, the GBP/USD pair showed weak price fluctuations, literally within the 40-point range. But this fact is rather surprising, given the entire array of negative fundamental factors.

    The current behavior of the British currency is indeed anomalous. After extremely weak data on inflation in the UK, after pessimistic statements by Jean-Claude Juncker and the same pessimistic statements by Boris Johnson, the pound not only did not collapse to last week's levels, but also restored points lost in the morning at the beginning of the US session. According to some analysts, such a "stress tolerance" of the pair is associated with future events. Like, on the eve of the announcement of the results of the Fed meeting, no one risks opening large positions - neither against the dollar, nor against the pound. In addition, the Bank of England's meeting is expected tomorrow as well as the publication of a summary of monetary policy.

    analytics5d82bd5ebc53b.jpg

    The above events, of course, restrain many market participants - in such periods it is much safer to "sit on the fence." But in my opinion, the stability of the British currency is primarily due to the Brexit issue. Leaving aside the warlike statements of Juncker and Johnson, the market focused on other facts that speak in favor of the negotiability of the parties.

    The first fact is obviously optimistic. Today, the European Parliament agreed to delay Brexit. Although the text of the corresponding decision abounds with a multitude of "ifs," the market reacted positively to this. By and large, Europe has taken the first step towards London, and now the only question is for Johnson to make a similar maneuver towards Brussels. But the odious prime minister does not get tired of repeating that he does not intend to ask for a postponement at the summit of EU leaders on October 17-18. Instead, he will try to make a new deal, hoping to agree on a solution to the problem along the Irish border. The European Commission has already expressed bewilderment in this regard: Jean-Claude Juncker said that Britain has not yet submitted a single proposal for Brexit. At the same time, the head of the EC specified that the risk of a "hard" scenario is growing every day, since there is very little time left to conclude an agreement.

    But this, so to speak, is only the external side of the issue. But "behind the scenes" is a completely different political game, the details of which became known to journalists of the influential publication The Guardian. With reference to their sources in the British government, the authors of the sensational material argue that in fact London is negotiating with Brussels on a new agreement, however, very peculiarly. The British negotiators are conducting "oral consultations", but at the same time they refuse to provide any written proposals to their European colleagues. As informed sources told reporters, the British are afraid of "very long discussions" or public criticism, therefore they want to submit written proposals to Brussels literally in the last minutes before the October summit. According to the draft version of the deal (in Johnson's interpretation), London will exclude the backstop clause from the text of the agreement, and instead of this mechanism will propose an alternative (which one is still unknown).

    By and large, this information, which, of course, is unconfirmed, is in good agreement with Johnson's political behavior and his earlier statements. In the summer, he announced that if the backstop mechanism was abandoned, the parties would make rapid progress on the issue of concluding an agreement. Here are just some alternative ideas for the "back stop" he did not voiceso - neither the public nor to the negotiating group. In addition, there is a version that Johnson leads the country "at full speed" to the hard Brexit only so that the EU "flinches at the last moment", that is, literally on the last day before the "X-hour". Allegedly, in this case, Brussels may succumb to blackmail and show political flexibility, at least in the matter of back-stop. Of course, given the eccentricity of Johnson, this option was initially "on the lips" of many analysts. Insider information of The Guardian only confirmed the realism of this scenario.

    analytics5d82bd72b7ac2.jpg

    Thus, traders do not give up hope for a deal, especially against the background of today's decision of the European Parliament and insider British press. Due to these factors, the pound is actually kept at the boundaries of the 25th figure, ignoring all other signals. Indeed, in other conditions, the sterling would have fallen in price by at least 1-2 figures, after the release of data on the growth of British inflation (I recall that the core consumer price index collapsed to around 1.5%).

    This fact suggests that traders of the GBP/USD pair may just as well ignore the overall growth of the US currency if the results of the Fed meeting are in favor of the greenback. The Brexit theme still takes precedence over other fundamental factors, so any positive rumors or comments in this context will lead the pair to at least 1.2540 (the upper line of the Bollinger Bands indicator on the daily chart).

    The material has been provided by InstaForex Company - www.instaforex.com
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