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Is Cryptocurrency the next evolution of money?

In finance and economics for something to be considered as money it must perform three functions: be a means of Storing Wealth, be a medium of exchange, be a unit against which to value other goods. In the last years Bitcoin has achieved just that to become the first cryptocurrency fitting this definition creating the question is cryptocurrency the next evolution of money? In this webinar, we explore what this new type of money is, how it works, and how you can get involved. We will analyze the fundamental forces affecting the cryptocurrencies – Demand and Supply, Government Regulation, Media Influence, Wider Mainstream Acceptance, Technological Changes and Innovations and then look at the charts to see how technical analysis can be used to predict price movements and hence trade profitably!

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https://www.xm.com/cryptocurrencies

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Forex Market Review (European Session) – Euro jumps to 3-week high on upbeat GDP; pound slips on inflation miss

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The euro enjoyed its strongest daily gain in a month as upbeat GDP numbers out of Europe lifted sentiment for the region. The pound came under pressure though after UK inflation missed expectations, while the US dollar remained below session highs despite US producer prices rising more than anticipated.

Stronger-than-expected growth in Europe’s largest economy during the third quarter set the tone for today’s European session as investors were once again drawn to the improving outlook for the region. German GDP was up 0.8% between the second and third quarters, beating forecasts of 0.6% growth. The year-on-year rate was in line with estimates at 2.3%. Italian GDP also came in above expectations and strong growth in central and eastern European countries added to the overall positive tone, lifting the euro.

The single currency jumped to a near three-week high of $1.1764, and was last trading up 0.7% on the day at $1.1753. It was also up sharply against the yen and the pound at 133.45 and 0.8968 respectively.

The pound’s losses were broad based as the British currency dipped after weaker-than-expected inflation data. Headline inflation in the UK was unchanged at 3.0% y/y in October, below forecasts that it would rise to 3.1%. Core CPI missed estimates too, coming in at 2.7%, the same rate as in September, instead of the expected 2.8%. Producer prices also rose less than expected, suggesting that inflation in the UK has peaked as the effects of last year’s depreciation of the pound start to fade.

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Finding methods easier for you can be done with XM online webinars. We were voted ‘Best Forex Education Broker’ by Share Magazine UK because we simply love to educate. 

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Don’t miss the chance to Win a VIP experience to attend to the Gala Dinner in Thailand hosted by XM,
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Forex Market Review (European Session) – Dollar flat as US House puts tax plan to vote; pound steady after retail sales surprise

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Major currencies were moving sideways during the European session on Thursday as investors were widely anticipating whether Republicans would pass their tax code in the House of Representatives later today. Economic releases out of the Eurozone, the US, the UK, and Canada were also in focus but had a moderate impact on the markets.

The US lawmakers were preparing for a crucial vote on tax reforms in the House of Representatives on Thursday after 1830GMT, with Republicans feeling confident that their tax version would gather enough votes. The biggest threat, though, comes from the Senate, with two Republicans expressing misgivings about the Senate version yesterday and therefore raising fears that the tax overhaul will fail to be approved before the end of the year as Trump’s team desires.

Looking at today’s US economic reports, initial jobless claims increased by 249,000 in the week ending November 11, exceeding the forecast of 235,000 and the 239,000 seen previously. This drove the four-week average measure, which is considered less volatile, up by 6,500 to 237,500. The Philadelphia Fed manufacturing index also disappointed traders, falling by 5.2 points to 22.7, below the forecast of 25.

The dollar index was in a range during the session at 93.85. Dollar/yen pared earlier gains, retreating to 112.84. Dollar/swissie jumped by 0.44% on the day to 0.9924.

In Eurozone, final figures on inflation matched flash estimates with headline CPI increasing steadily by 1.4% y/y in October but slowing down by 0.3 percentage points to 0.1% m/m. The core equivalent though, which excludes fuel and energy prices, surpassed expectations, growing by 1.1% y/y, above the forecast of 0.9%, while the monthly core measure declined by 0.1% after rising by 0.4% in September. Euro traders didn’t react much to the data. On the day, the currency extended its downtrend relative to the dollar to reach 1.1776 as coalition talks in Germany to form a government led nowhere so far ahead of a deadline set by the chancellor Angela Merkel for the end of the week. Should the parties fail to come to an agreement, Germany would be forced to go through elections once again, potentially eroding confidence in Merkel’s Conservative party and strengthening the far-right ADP.

Data on retail sales out of the UK caused moderate movements in the markets as investors were more concerned about the Brexit talks, which so far offer little clarity to business leaders as regards Britain’s future relationship with the EU. UK retail sales fell for the first time since March 2013, retreating by 0.3% y/y in October, while analysts had forecasted a bigger decline of 0.6%. September’s growth of 1.2% was also slightly revised up to 1.3%. Excluding automobiles and fuel, the gauge retreated by 0.3% after four-years of rising but with at a slower pace than analysts anticipated (-0.4%). The pound rebounded from a low of $1.3194 prior the data to $1.3195. Euro/pound was down by 0.27% at 0.8926.

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Our management has visited over 120 cities around the world to connect with our clients and partners, because we believe in the value of real human interaction on a face to face basis.

 

We have hosted more than 100 seminars around the world to educate traders, enabling them to make better trading decisions. Over the years, traders have embraced XM for our refreshing approach to customer service and outstanding support, this is why XM now enjoys the highest levels of client retention of any forex broker, anywhere

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