Centrofxtrading

24/02/2017

Its certainly not a quiet end to the week, with plenty of data, albeit largely second tier, on the schedule to concentrate on. The European calendar gets underway at 07:00 GMT, with the publication of the German

23/02/2017

Its a busy data calendar day Thursday. The European calendar gets underway atm 07:00 GMT, with the publication of the German Consumer Climate and the final Q4 German GDP data.French data due for publication at 07:45 GMT ...

22/02/2017

Its another full data session Wednesday, although most US releases are only second tier data sets. However, the US will get a look at the minutes of the Fed's last FOMC policy meeting. The European calendar gets underway at 09:00 GMT,

20/02/2017

Eurogroup Meet To Discuss Greece

Its a quiet data day Monday, with limited releases schedules in Europe and nothing on the calendar for the US due to the President's Day holiday. The European calendar gets underway at 07:00 GMT, with the publication of the German January producer price data. In the UK, at 11:00 GMT, the CBI Industrial Trends data will be published. Across the Atlantic, the North American calendar gets underway at 13:30 GMT, with the release of the Canadian wholesale trade data. At 14:40 GMT, the ECB will call for bids on the latest 7-day MRO, before publishing the total numbers of last week's PSPP bond-buying operations.

The European Commission will publish the February consumer confidence indicator data at 15:00 GMT. The Eurogroup of euro area finance ministers meet in Brussels Monday, with ECB
President Mario Draghi and Executive Board member Benoit Coeure in attendance. Greece will be at the top of the agenda, as policymakers continue to look for a way past the en passe over the latest review. Overnight, at 01:15 GMT, Cleveland Federal Reserve Bank President Loretta Mester speaks on monetary policy at the Global Interdependence Center's Central Banking Series in Singapore.

Technical Overview

It was a low-key affair in the Asia-Pacific region, without any economic data or news to influence direction, consolidation was the main theme. Dollar-yen held a Y112.77 to Y113.19 range and was last at Y113.14. Aussie-dollar procrastinated between $0.7659 and $0.7680, last at $0.7670. Meanwhile, euro-dollar currently trades at $1.0612 and Cable at $1.2417 after trading in respective ranges of $1.0602 to $1.0633 and $1.2408 to $1.2440).

Layers of resistance $1.0680-1.0744 confirmed significance last week having capped the recovery from the week’s lows. Bulls continue to look for a close above $1.0744 to end bearish hopes and shift focus to the $1.0829-73 region. The close below $1.0647 Friday eased immediate bullish pressure with bears still needing a close below $1.0599 to confirm a break of the 55-DMA and return initial focus to $1.0521.

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14/02/2017

This is what markets should be listening for as Congress grills Yellen

Traders are buzzing about whether Fed Chair Janet Yellen will sound a bit hawkish Tuesday and indicate that the Fed could consider raising interest rates at its next meeting in March — three months sooner than most Fed watchers are forecasting.
If she does, interest rates could jump and stocks could wobble.
But analysts say what they should also be weighing, as Yellen testifies before the new Congress for the first time this week, is that the Fed this year may no longer be the only central bank to move away from extraordinarily easy policies. That could have a much bigger and lasting impact on world financial markets.
"I do think the market underestimates that a bit. For 10 years, global central banks have been easing," said Michael Arone, chief investment strategist at State Street Global Advisors.
That's important since the easy policies of the European Central Bank and Bank of Japan have helped keep U.S. interest rates low, particularly at the long end, as investors looked around the world and bought Treasurys for relative value and higher yields. That has had the effect of holding down rates that affect things like mortgages in the U.S.
"The market's thinking central banks aren't going to matter this year. I don't see that as realistic," said Peter Boockvar, chief market analyst at The Lindsey Group. "We're increasing the probability of rate hikes. The ECB is cutting quantitative easing QE this year, the Bank of England is going to end QE this year and possibly raise rates. You have the Bank of Japan getting tested every night in their yield curve control experiment. I think that central banks don't matter is unrealistic," he said.
That makes listening for Yellen's views and confidence level about the U.S. and global economies even more important, when she appears before the Senate Banking Committee at 10 a.m. Tuesday and the House Finance Committee Wednesday. Since the election, the Fed has taken a back seat to the market optimism around the pro-growth tax and stimulus policies of President Donald Trump.
That could change, if interest rates start to rise and the market perceives that they are moving too quickly. The Fed has forecast three rate hikes for this year, and economists are expecting more like two with the next hike in June. Arone said if global growth is improving, the markets could take the central bank actions in stride.
Yellen is appearing before the Republican-controlled Congress for the first time. She is expected to be asked about changes to banking regulation, the proposal to audit Federal Reserve policy moves and the Trump fiscal stimulus and tax reform proposals.
"There's been a lot of chatter about how she's going to put March back on the table," said Ian Lyngen, head of U.S. rate strategy at BMO Capital. "Of course, she's going to say every meeting is live. I think it's a matter of nuance; how much jawboning does she attempt to do; how adamantly does she stress that a March rate hike is a possibility, how emphatically is she going to tell us each meeting is in play?"
The Fed chair is also expected to be asked a lot of questions about the Fed itself, questions that could give clues to how Congress may deal with the Federal Reserve in coming months.
"I think she's going to want to demonstrate the need for the Fed's independence, so I expect comments on that, particularly given it's been called into question by some Republicans and even the president himself," said Arone. "She'll continue to talk up three rate hikes this year, and she'll continue to suggest the Fed remains on track to raise rates gradually."
Arone said Yellen is also likely to mention that it is time for the Fed to discuss moving to normalization by reducing its balance sheet. The Fed has disclosed that it's been talking about the future of its program of replacing securities on its balance sheet instead of letting them roll off. If ended, the net effect would be to gradually reduce the $4.5 trillion Fed balance sheet, but it could also be supportive of higher rates.
Yellen's testimony Tuesday and Wednesday before Senate and House committees comes as stocks burst to news highs. Stocks Monday closed at record highs for a third day. The S&P 500 was up 12 at 2,328, the Dow was up 142 at 20,412, while Nasdaq was up 29 at 5,770. Shares of Apple rose 0.9 percent to an all-time closing high of $133.29 per share.
"I don't think Janet Yellen will provide anything of shock value. I think if she's perceived in any way of being more hawkish, it's probably because the market has had an awfully good run here," said John Stoltzfus, chief investment strategist at Oppenheimer Asset Management. "When she senses animal spirits in the market, she'll step up to the plate and indicate the Fed can raise rates as well as lower rates, and just cool the animal spirits a little."
Stoltzfus said the market should have a bullish tilt because the Fed is moving away from super easy policy. The S&P 500 reached its last cycle high of 1565 on Oct. 9, 2007, he said. "The market is up 49 percent since that high, or 4.36 percent annualized. That's not a raging bull market. it's a recovering market and it's climbed a wall of worry. Now I think we're getting ready for a bull market because we're getting rid of the monetary policy stimulus. We're moving toward normalization and we're moving toward fiscal stimulus," Stoltzfus said.
There are earnings expected from Discovery Communications, Dr. Pepper Snapple, Generac, T-Mobile US, Credit Suisse, Martin Marietta and TransUnion ahead of the market open. After the close, AIG, Express Scripts, Lending Club and Devon Energy report.
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Traders are buzzing about whether Fed Chair Janet Yellen will sound a bit hawkish Tuesday and indicate that the Fed could consider raising interest rates at its next meeting in March

07/02/2017

The reality is that most people do not really take reviews seriously and it is not just only in the forex world. Like other business setups, a broker will need the feedback of its clients to grow and improve on their services.

31/01/2017

The greenback was broadly offered during the Asia-Pacific region amid concerns over Trump's immigration policy souring risk-sentiment. Dollar-yen opened at Y115.08 and held a Y114.27 to Y115.16 range, last at Y114.33.

27/01/2017

US stock index futures are trading slightly weaker after Thursday's session saw consolidation after the Dow broke the 20k mark, with the market wary, after the risk of a US trade war with Mexico increased on a White House

17/01/2017

13/01/2017

13/01/2017

10/01/2017

The data calendar slows somewhat Tuesday, with limited data expected in Europe and mainly second tier data set for publication in the US.

14/12/2016

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05/12/2016

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01/12/2016

Mnuchin will make America work for Wall Street, Sen. Jeff Merkley says

If you want somebody to dismantle the protections for consumers he's just the guy to do it: Merkley Mnuchin likely to dismantle protections for consumers: Merkley
Sen. Jeff Merkley slammed Donald Trump's selection of Steve Mnuchin for Treasury secretary on Wednesday.
"This man is an expert on how to make money in predatory lending and putting him in charge — it is absolutely the opposite of draining the swamp. It is filling the swamp with a swamp monster No. 1 who is an expert on how to take it to low-income families," Merkley said Wednesday "Squawk Alley." "It really is the opposite of what Trump said he was going to do."
The Trump transition team and Mnuchin did not immediately respond to request for comment on Merkley's remarks.
Mnuchin, who was finance chairman for Trump's presidential campaign, is a Wall Street veteran, having spent 17 years at Goldman Sachs. His impending nomination seems at odds with Trump's populist campaign rhetoric for downtrodden blue-collar workers.
Some are concerned that Mnuchin would roll back regulations that were drafted in the wake of the Great Recession, such as the Dodd-Frank Act. The former banking executive on Wednesday morning that stripping parts of Dodd-Frank "will be the No. 1 priority on the regulatory side." Such legislation was passed with the goal of protecting consumers and preventing another collapse of a major financial institution like Lehman Brothers.
"If you want somebody to dismantle the protections for consumers, he's just the guy to do it," said Merkley, D-Ore., who serves on the Senate Banking, Housing and Urban Affairs Committee.

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21/11/2016

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21/11/2016

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18/11/2016

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16/11/2016

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15/11/2016

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24/10/2016

AT&T-Time Warner deal sparks calls for scrutiny in Washington

AT&T Inc's (T.N) proposed $85 billion takeover of Time Warner Inc (TWX.N) generated skepticism among both Democrats and Republicans on Sunday, making it more likely that regulators will closely scrutinize the effort to create a new telecommunications and media giant.

The biggest deal of the year, announced just over two weeks before the Nov. 8 U.S. election, is a gamble on a victory for Democratic presidential candidate Hillary Clinton and a continuation of the status quo on anti-trust and regulatory enforcement.

The Republican candidate Donald Trump, who is trailing Clinton in the polls, has said he would block the takeover.

The billionaire businessman has railed against the media's role in what he has described as a "rigged" election and he believes the acquisition of Time Warner, which owns CNN and Warner Bros, Hollywood's largest film and television studio, would concentrate too much power in one organization.

"AT&T, the original and abusive 'Ma Bell' telephone monopoly, is now trying to buy Time Warner and thus the wildly anti-Trump CNN. Donald Trump would never approve such a deal because it concentrates too much power in the hands of the too and powerful few," Trump economic advisor Peter Navarro said in a statement on Sunday.

Clinton, who has expressed misgivings about other corporate mega mergers, has not yet commented on the takeover.

But Senator Bernie Sanders, Clinton's former rival for the Democratic party's nomination, said on Twitter that the administration should "kill" the Time Warner takeover because it would mean higher prices and fewer choices for consumers.

Sanders' comments carry weight because Clinton needs Sanders' coalition of young and left-leaning voters to propel her to the presidency.

Clinton spokesman Brian Fallon told reporters on Sunday there were "a number of questions and concerns" about the deal "but there's still a lot of information that needs to come out before any conclusions should be reached."

The Senate subcommittee on antitrust will hold a hearing on the acquisition sometime in November, said subcommittee chair Senator Mike Lee, a Republican, and the ranking Democrat, Senator Amy Klobuchar.

Tim Kaine, Clinton's running mate and a senator from Virginia, said lawmakers and regulators would have to review the deal and "get to the bottom" of questions over whether the merger would decrease competition.

"Less concentration, I think, is generally helpful especially in the media," Kaine said on NBC's "Meet the Press."

The U.S. Justice Department, not the president, has the power to reject such a deal if it violates antitrust laws. AT&T said it is unclear if the Federal Communications Commission will also have jurisdiction to review the deal.

A spokesman for the Justice Department declined to comment.

AT&T has described the deal as a "vertical merger" because there is no overlap between the two companies and hopes that such a tie-up will get the regulatory green light by the end of 2017.

“In the modern history of the media and the Internet, the U.S. government has always approved vertical mergers like ours, because they benefit consumers, strengthen competition, and, in our case, encourage innovation and investment,” David McAtee, AT&T senior executive vice president and general counsel, said in a statement on Sunday.

The Time Warner takeover mirrors the 2013 $30 billion purchase of NBCUniversal by its rival Comcast (CMCSA.O), a deal which was cleared after regulators imposed concessions on the cable operator.

COMPETITORS ENVISION 'CLOSE' SCRUTINY

The cash and stock deal brings together two very different companies -- one a telecoms company that traces its heritage back to Alexander Graham Bell, the other an entertainment company founded in the Hollywood of the 1920s.

But the tie-up, which is designed to boost the content AT&T can stream over its network, raises concerns that AT&T might try to limit distribution of Time Warner material.

Competitors such as NBCUniversal, Twenty-First Century Fox Inc (FOXA.O) and the Walt Disney Co. (DIS.N) could find that their content could be put at a disadvantage, some consumer advocacy groups suggested.

"A transaction of this magnitude obviously warrants very close regulatory scrutiny," said Zenia Mucha, chief communications officer for Disney.

NBC Universal, which is owned by Comcast Corp and Fox declined to comment on the merger.

Netflix Chief Content Officer Ted Sarandos, speaking on Saturday at the Institute on Entertainment Law and Business conference at the University of Southern California, said he expected a close examination of the deal by regulators.

CONGRESSIONAL EXAMINATION

Senators Lee and Klobuchar said their subcommittee would "carefully review" the merger to make sure it does not harm consumers.

Lawmakers may pursue inquiries into the merger and build support for or against it, but it is ultimately up to the Justice Department to approve, block or place conditions on the deal.

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10/10/2016

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07/10/2016

Congratulations goes to our own Rider how join the Akamas Mountainbike Challenge and got the 4th place in the category Masters 2.

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The organizers Biking'Cyprus Events Management and co-organizers Arena Sports, promise to offer an all- round event in the Akamas peninsula, with two days of mountainbike tours and excursions and two days full of adrenaline with cycling races

07/10/2016

Funt szoruje po dnie, brytyjski minister uspokaja Wall Street

Funt najtańszy od 31 lat. Powodem blady strach przed Brexitem
Brytyjski minister finansów Phillip Hammond odwiedzi w czwartek Wall Street, aby przekonywać amerykańskie banki, że Wielka Brytania, pomimo Brexitu, jest nadal otwarta na biznes. Z powodu niepewności na rynkach funt szterling szoruje po dnie i jest najtańszy wobec dolara od 31 lat.
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30/09/2016

British pound continues longest downslide in decades

Sterling is headed for a fifth quarterly decline against the US dollar, the longest downward run in more than 30 years, as the currency continues to slide after the UK vote to quit the European Union.

After a record plunge after the vote, the pound hit a three decade low at the beginning of July and still remains the worst performer of the year among the 16 major currencies.

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27/09/2016

Shorts Waded Into Financials Just in Time for Deutsche Bank Rout
Fed rate decision damps prospects for U.S. lenders’ profits
Election uncertainty, volatility in crude add to angst

Even before Deutsche Bank AG’s drop to a record low dragged down U.S. financial shares on Monday, investors were braced for the worst.
Blame the Federal Reserve’s decision to hold interest rates steady last week, prolonging the wait for higher yields on cash holdings for financial firms. Traders responded by pushing short interest on an exchange-traded fund tracking the industry to a seven-month high, according to data compiled by Bloomberg and IHS Markit Ltd.
That’s proven prescient as concerns over Deutsche Bank’s weakened finances sent an index of financial companies in the S&P 500 Index down 1.5 percent at 4 p.m. in New York, while the benchmark gauge lost 0.9 percent to 2,146.10. It marked the latest hiccup for a sector already maligned by a nearly 12 percent plunge this month for scandal-plagued Wells Fargo & Co., formerly the biggest U.S. bank by market value.
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26/09/2016

Stocks Drop as Oil Rebounds Before Output Talks; Lira Weakens
Turkey’s lira extends slide after Moody’s cut rating to junk
Crude rises on signs Saudi will push for OPEC production curbs

Turkey’s lira extends slide after Moody’s cut rating to junk
Crude rises on signs Saudi will push for OPEC production curbs
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23/09/2016

Stocks Rebound Peters Out as Oil Retreats; Dollar Halts Slide.

Global sovereign bonds are set for best week since July.

Crude drops for first time this week as Algiers talks loom.

This week’s rebound in global equities ran out of steam as oil retreated from a two-week high and a dollar slide ended. Sovereign bonds were headed for their biggest weekly gain since July, buoyed by central bank commitments to keep monetary policies loose.
The MSCI All Country World Index of shares declined for the first time this week, while U.S. equity index futures were little changed. New Zealand’s dollar was the biggest loser among major currencies, while gold fell for the first time this week. Crude slid below $46 a barrel with investors weighing prospects for major producers to agree output constraints at talks next week in Algiers. China’s 10-year bond yield fell to its low for the month, while Germany’s increased following its biggest drop since June.
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