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Overall, the world of trading is highly volatile, and numerous events determine its trends every day. Knowing these events and keeping an eye open for these news in the global arena may help you make a fortune on wise and timely trading decisions. Learn about the most significant and influential events to look for in search of profitable deals in Forex.
Central Bank Rate Changes
Changes in different countries’ Central Bank rates traditionally occur on a monthly basis, so it is strategically wise to track them and make trading decisions based on feasible changes. The Central Bank’s increase of rates typically leads to valuation of currency, the unchanged or reduced rates of which may have different effects on it depending on the overall economic perceptions.
Since GDP determines the national economic health and affects tempos of economic growth, monitoring national GDP statistics may also help to make thoughtful and lucrative trading decisions. With downward GDP trends, the devaluation of currency may be expected in the near future.
Information on Inflation
This one is mostly determined by the Consumer Price Index, which reflects fluctuations in consumer prices and helps national banks to make policy decisions. Checking it becomes easier if you remember about metatrader 4 free download widely available today. Once the CPI rises, traders may expect the rise of currency value and can make a good profit on that fluctuation.
FOMC Meeting Reports
With the US dollar remaining a global currency on which the world’s trading community relies, reports of the US Federal Open Market Committee (FOMC) enjoy high influence on the Forex market’s volatility. FOMC reports usually do not contain open statements about further course of the Central Bank, but a talented and observant trader can find implied and suggested trends for investment decisions.
How to Trade on News Releases?
The daily issue of trading news is another traditional source of brokers’ information and decisions. Due to time difference, news is released at different times in different countries, and a thoughtful broker monitors them at the markets of interest to determine the current trends and anticipate market fluctuations. The key points significant to Forex market include the industrial production, unemployment rate data, business and consumer confidence polls, trade balance information, etc. The most volatile news reports relevant to the Forex market include those of NFP, FOMC, trade balance, CPI, and retail sales. Therefore, maximum attention should be focused on them for profitable decisions. All these are a potential source of viable trading data, but the most crucial aspect here is the timing of trading steps. While breaking news of global importance may have effects lingering for months in the market, the majority of regular news has a short-term of effect of 2-3 days.
Make sure you take all of these into account when trading. It will surely help you a lot.
King Salman of Saudi Arabia has reinstated bonuses and special allowances for civil servants and military personnel that had been cut in September 2016 as part of austerity measures when oil revenues were low.
The king also named his son Prince Khalid as new ambassador to Washington.
King Salman’s decrees saw a new national security centre created under the Royal Court.
Photo Getty Images
He also ordered two months extra salary be paid to frontline military personnel taking part in Saudi-led operations in Yemen.
Prince Khalid is a fighter pilot who has trained in the US and carried out air strikes against ISIS in Syria.
The decree said the pay cuts for ministers and government employees – the first in Saudi Arabia, where about two-thirds of working Saudis are employed in the public sector – had been in response to falling oil prices, which sank to a low of $28 a barrel in January 2017.
The oil price has since risen to about $52 a barrel and ministers said budgetary performance had been better than expected in Q1 of 2017.
Under the cuts, ministers had their salaries reduced by 20% and housing and car allowances for members of the advisory Shura Council were cut by 15%.
Wage increases for lower-ranking civil servants were suspended, and overtime payments and annual leave capped.
Salaries and allowances accounted for 45% of government spending in 2015, or $128 billion, and contributed to a record budget deficit of $98 billion.
Italian cyclist Michele Scarponi has died during a training ride after being involved in a collision with a van. He was 37.
The crash happened close to Michele Scarponi’s home in Filottrano, a statement from his Astana team said.
Michele Scarponi won the 2011 Giro d’Italia after Alberto Contador was stripped of the title and claimed victory in stage one of the Tour of the Alps on April 17.
“This is a tragedy too big to be written,” said the Astana statement.
The statement described Michele Scarponi as a “great champion” and a “special guy”, adding: “The Astana Pro Team clings to the Michele family in this incredibly painful moment of sorrow and mourning.”
Michele Scarponi leaves behind a wife and two children.
Image source Flickr
After finishing fourth in the Tour of the Alps on April 21, Michele Scarponi returned home by car with his masseur before heading out for a ride on the next day.
Specialist climber Michele Scarponi turned professional in 2002 with the Acqua & Sapone-Cantina Tollo team, finishing 18th in his debut Giro d’Italia.
In 2007, he was banned for 18 months after being implicated in Operation Puerto – a major Spanish doping scandal involving some of the world’s top cyclists at the time.
Michele Scarponi admitted his involvement in the scandal but denied doping, having been charged with using or attempting to use banned substances and possession of those substances.
Returning in November 2008, he won the Tirreno-Adriatico stage race in 2009 before initially finishing second in the 2011 Giro d’Italia.
He was later awarded his first Grand Tour title after original winner Alberto Contador was stripped of his title by the Court of Arbitration for Sport in 2012 after a positive test for clenbuterol at the 2010 Tour de France.
Michele Scarponi joined Astana in 2014, primarily riding Grand Tours as a domestique and helping team-mate Vincenzo Nibali to victory in the 2014 Tour de France and 2016 Giro d’Italia.
Aaron Hernandez had cried in court as that verdict was read, saying he was “very happy”.
His death comes on the day members of his former team visit President Donald Trump at the White House to be commended for their Super Bowl victory over Atlanta in February.
According to Massachusetts Department of Correction, Aaron Hernandez had tried to block the door to his single cell before hanging himself.
Lifesaving techniques were performed on him and he was taken to UMASS Leominster hospital where he was pronounced dead at 04:07 local time.
State police are on the scene and Aaron Hernandez’s next of kin have been notified, officials said.
State Department of Correction spokesman Christopher Fallon said in a statement that he was not aware a suicide note had been written and that officials had not been concerned that Aaron Hernandez would take his life.
Although Aaron Hernandez was acquitted of the double murder last week, he was found guilty of illegally possessing a firearm and the judge added five years to his sentence.
He had been accused of the fatal shooting of Daniel de Abreu and Safiro Furtado outside a Boston nightclub in 2012, one month before he signed a $40 million contract extension with the Patriots.
Toshiba has published its delayed financial results, warning that the company’s survival is at risk.
The Japanese electronics giant said in a statement: “There are material events and conditions that raise substantial doubt about the company’s ability to continue as a going concern.”
Toshiba reported a loss of 532 billion yen ($4.8 billion) for April to December 2016.
However, the results have not been approved by the company’s auditors.
These latest financial results have already been delayed twice and raise the possibility that Toshiba could be delisted from the Tokyo Stock Exchange.
The company is expected to hold a news conference later.
Toshiba, originally known for its consumer electronics products, has faced a series of difficulties.
An accounting scandal, uncovered in 2015, led to the resignation of several members of the company’s senior management, including the CEO, after it was found to have inflated the previous seven years’ profits by $1.2 billion.
Westinghouse was put into Chapter 11 bankruptcy in March, which protects it from creditors while it undergoes restructuring.
This week, Taiwanese electronics manufacturer Foxconn was reported to be willing to pay up to $27 billion for Toshiba’s computer chip business, a move which could help shore up the losses if it went ahead.
However, that has not been enough to resolve Toshiba‘s difficulties.
The company’s auditors, PriceWaterhouseCooper Aarata, have refused to sign off its accounts, resulting in their publication being delayed twice.
Now, faced with a deadline, Toshiba has made the unprecedented move of publishing the results without the auditor’s approval.
Toshiba’s statement added: “At the present time, substantial doubt about the company’s ability to continue as a going concern exists as of the filing date of the quarterly report.”
However, President Trump said he wants “some very strong” change to help the bank sector.
“We want strong restrictions, we want strong regulation. But not regulation that makes it impossible for the banks to loan to people that are going to create jobs,” he told a group of about 50 business leaders at a White House meeting.
“We’re going to be doing things that are going to be very good for the banking industry so that the banks can loan money to people who need it.”
Donald Trump had promised during his election campaign to relax rules on big banks, and subsequently ordered a review of the industry’s regulations.
The president’s remarks have the backing of Jamie Dimon, chairman and chief executive of one of the world’s biggest banks, JP Morgan Chase.
In his annual letter to shareholders, released on April 4, Jamie Dimon said the regulatory burden “is unnecessarily complex, costly and sometimes confusing”.
Dodd-Frank was designed to resolve the too-big-to-fail problem that meant banks facing collapse had to be bailed out rather than wound down.
However, Jamie Dimon said banks had essentially solved this issue by boosting the capital they held in reserve and introducing tougher risk controls.
S&P Global has cut South Africa’s credit rating to junk status.
The ratings agency said that South Africa’s political upheaval, including the recent sacking of finance minister Pravin Gordhan, was endangering the economy.
S&P also expressed concern over government debt, and in particular the expense of supporting the state energy firm Eskom.
The news put more pressure on the rand, which was down 2% against the US dollar.
Pravin Gordhan’s sacking, seen as a safe pair of hands and with a reputation for financial prudence, led to a 4% fall in the rand on March 31 and prompted strong criticism.
His replacement as finance minister by Malusi Gigaba was part of a cabinet reshuffle by President Jacob Zuma.
However South Africa’s deputy president, Cyril Ramaphosa, called Pravin Gordhan’s sacking “totally, totally unacceptable” and the Gwede Mantashe, secretary-general of the ruling African National Congress (ANC), also opposed it.
The financial downgrading is likely to make it more expensive for South Africa to borrow money on the international markets, as lending to the country would be seen as riskier.
S&P explained its decision, stating that: “Internal government and party divisions could, we believe, delay fiscal and structural reforms, and potentially erode the trust that had been established between business leaders and labor representatives (including in the critical mining sector).”
“An additional risk is that businesses may now choose to withhold investment decisions that would otherwise have supported economic growth,” it added.
That includes a stake in Trump International Hotel, which earned Ivanka Trump between $1 million and $5 million in 2016.
Ethics regulations require such financial disclosures for staff working in the White House. The documents show income and assets at the time they started working for the US government – before any assets were sold or disposed of.
Neither President Donald Trump nor VP Mike Pence were part of the disclosure release, which came on March 31.
Among the revelations include financial data about: Steve Bannon, now a senior White House adviser, was paid $191,000 in consulting fees by conservative media outlet Breitbart, in addition to at least $1 million in other employment income; Sean Spicer, the White House press secretary, was paid $260,000 for his role as chief strategist and communications director at the Republican National Committee, and holds several real estate assets; Kellyanne Conway, Trump’s campaign chief turned advisor, earned more than $800,000, mostly for consulting services, including Donald Trump’s campaign; Gary Cohn, head of the White House National Economic Council and a former Goldman Sachs president, has assets worth at least $230 million – but potentially more, as many of his assets are simply listed as worth “over $1m”. The White House said Gary Cohn resigned from all his positions at Goldman Sachs.
Image source Nordstrom
In a briefing before the release, White House officials stressed that “these are not the current holdings that everyone has today. These are the holdings that everybody had at the time when they came into office”.
Potential conflicts of interest may have already been eliminated.
Reuters quoted a White House official as saying about 25% of President Trump’s administration staff were classified as having “extremely complex” filings, indicating they were very wealthy.
They appeared much wealthier than officials in previous administrations, including Barack Obama’s White House.
March 28 settlement has still to be approved by the court.
The class action lawsuit was filed in May 2015 by Shahriar Jabbari and Kaylee Heffelfinger at the district court in Northern District of California.
Image source Wikipedia
In a statement, Wells Fargo said the agreement would “consist of all persons who claim that Wells Fargo opened an account in their name without consent, enrolled them in a product or service without consent, or submitted an application for a product or service in their name without consent”.
Wells Fargo’s new president and chief executive Tim Sloan said: “This agreement is another step in our journey to make things right with customers and rebuild trust.”
“We want to ensure that each customer impacted by our sales practices issue has every opportunity for remediation, and this agreement presents an additional option,” he added.
Last September’s fine was imposed on Wells Fargo by the US Consumer Financial Protection Bureau (CSFB), following an investigation into the bank’s sales practices.
CSFB’s investigation found that to meet sales targets bank staff had “illegally” signed up customers for deposit and credit-card accounts that they did not want or did not know they had.
Wells Fargo said it expected this latest settlement to resolve claims in 11 other pending class action lawsuits.
The meeting of G-20 finance ministers has just been concluded in Germany but there is still a dark shadow of uncertainty hanging over global trade. To start with, the Communiqué released after the meeting provides reasons to be worried about global economic trends because of the things it didn’t say on trade.
For instance, the G-20 finance ministers practically refrained from making the usual commitment to foster cooperation on global trade. In fact, the G-20 finance ministers seemed hesitant to discuss or mention trade – “trade” was mentioned two times in this communiqué – ”trade” was mentioned 40 times in the communiqué from the last G-20 finance ministers meeting that held six months ago.
From the foregoing, one could make two submissions. The first submission is that the G-20 finance ministers are passing up the responsibility of sorting out the brewing issues in global trade to their political leaders. The second submission is that the G-20 finance ministers are probably clueless on how the geopolitical tensions could affect global trade. The fact that G-20 finance ministers don’t know where the global economy is headed suggests that traders and investors can expect increased volatility in the markets going forward.
Increased uncertainty brewing in the global equity markets
The lack of concrete information on global trade from the last G-20 meeting of finance ministers is sowing the seeds of concerns in the global economic landscape. The performance of equities in the global market suggests that traders and investors are worried that protectionism might become the order of the day at the expense of free trade.
The fears of increased geopolitical headwinds if trade wars begin is already triggering increased uncertainty and its attendant volatility in the global equities market. As at market open on Monday, March 20 (the first trading session after the G-20 meeting) global equities were mostly choppy. In Asia, Japan’s Nikkei 25 was down 0.35%, China’s Shanghai was up 0.41%, South Korea’s Kospi was down 0.5%, Hong Kong’s Hang Seng was up 0.6%, and Taiwan’s Taiex up 0.1%.
Here’s you could get trading direction in a directionless market
It could be very hard to make sense of where the markets are headed after G20 finance ministers failed to denounce protectionism in the global economic landscape. Nobody knows the extent to which increased protectionism will alter the balance of the markets but stakeholders agree that we will see increased market volatility as the world transitions from an era of free trade into an era of protectionism.
Institutional investors are in a better position to navigate the upcoming market uncertainties because they have better access to market data and they have strong cash positions to make volume trades and hedge such trades. However, individual retail traders are exposed to greater risks in times of increased market volatility. In fact, retail traders might only have one opportunity to get a trading decision right after which the capital invested in the trade is as good as lost.
However, social trading is an innovative trading strategy that helps retail traders to improve their odds of making winning trades. What is social trading? InvestinGoal defines social trading as a form of trading that ” allows the investor, even if inexperienced, to copy automatically the financial transactions made by one or more professional investors inside a trading network.” In essence, retail traders can leverage social trading platforms to copy the trade of professional and experienced traders in order to improve their chances of trading success.
Of course, social trading suggests that you are placing the fate of your trading success on the reliability of the trading decisions made by other traders. If such traders make erroneous trading decisions, you would have copied the poor trading moves and you’ll most likely lose money on the trade.
However, the company added that its diesel cars fully complied with emissions rules.
The move by French prosecutors comes after revelations in 2015 that Volkswagen broke diesel tests in the US.
France’s consumer affairs body passed a file on Fiat Chrysler to the courts for possible investigation in February.
Tests by French regulators in 2016, launched in the wake of the VW emissions test-cheating scandal, revealed pollutants from some Fiat Chrysler and other car maker’s models exceeded regulatory limits.
The move by the French prosecutor is the latest indication that questions about diesel pollution tests extend beyond VW.
A French judicial source told Reuters that the Paris prosecutor had opened the investigation on March 15, after the finance ministry’s consumer affairs and anti-fraud body had referred the case to the courts.
Fiat Chrysler said in a statement that its diesel vehicles “fully comply with applicable emissions requirements” in Italy, where its European unit is based. However, the company could not comment on which models were under further investigation in France.
The company said that it would “continue to co-operate to any investigations by competent authorities and remains fully confident that the matter will be clarified in due course”.
The first step towards understanding civil liability for car crashes in the Golden State is knowing what to call them, because in our society, words have power.
In 1997, the Massachusetts Highway Safety Commission became one of the first of some thirty agencies to shift terminology from accident to crash; in 2016, Nevada became the first state to make such a move. Later in 2016, the Associated Press followed suit, declaring that its reporters would no longer use the term if negligence is either claimed or established.
After all, according to advocates, airplanes crash, trains wreck, and ships sink, so vehicles should crash as well. To label these incidents as “accidental” implies that they were completely unavoidable by anyone involved, and typically, that is not the case. Other people counter that “accident” is proper, because the term correctly implies that the negligent driver did not intentionally set out to hurt other drivers.
“Accident” was first used in this context in the early 1900s, when some business owners referred to workplace injuries as “industrial accidents” to shift blame away from dangerous factory conditions and onto the injured workers.
What Causes Car Crashes?
Alcohol impairment is a factor in about a third of the fatal car crashes in the United States. This depressant slows down the nervous system, so impaired drivers cannot react to changing conditions as quickly as sober drivers. Furthermore, alcohol impairs judgement skills in such basic tasks like when to apply the brakes in time to stop. Finally, alcohol disrupts concentration, making it all but impossible for drivers to focus on more than one task at a time.
Many prescription drugs, street drugs, and over-the-counter drugs cause similar effects in drivers. The evidence is unclear as to whether or not marijuana impairs driving skills, but driving under the influence of cannabis is still illegal in most states, including California. In fact, the “drugged driving” law in the Golden State is very broad. In 2016, prosecutors charged a Fairfield man with DUI-Drugs because he was under the influence of caffeine; a few months later, Solano County prosecutors reluctantly dismissed the charges.
Excessive speed is a factor in another third of fatal car crashes. Velocity increases the force in any collision between two objects. So, in car crashes, a non-injury collision at low speeds becomes a serious injury crash at higher speeds. Velocity also reduces reaction time because it increases stopping distance. At 30mph, most passenger vehicles take about six car lengths to stop, but at 60mph, stopping distance triples to eighteen car lengths.
California lawmakers recently passed a tougher cellphone law to combat the rising tide of distracted driving, because this behavior causes over 431,000 injury crashes per year. At 55mph, most cars travel the length of a football field while the driver sends or reads just one text message.
Drowsy driving causes at least 100,000 car crashes a year, and that figure is probably vastly underreported. Fatigue and alcohol or drugs have about the same effect on the brain and on motor skills. In fact, driving after eighteen consecutive awake hours is like driving with a .08 BAC, which is above the legal limit in California.
All four of these behaviors could constitute a breach of the duty of reasonable care, and Gagne v. Bertran is one of the earliest California cases to explain this duty. The court held that people have “a duty to exercise the ordinary skill and competence of members of their profession, and a failure to discharge that duty will subject them to liability for negligence.”
Minimally competent drivers obey the speed limit, focus on the road, are sober, are well-rested, and otherwise obey “the rules of the road” in the Vehicle Code and elsewhere.
If the breach of duty caused the car crash (e.g. Driver A hit Driver B because Driver A was speeding), the victim is entitled to damages. These damages usually include compensation for noneconomic losses, such as pain and suffering, and economic losses, such as medical bills.
Many of these behaviors also involve a violation of the Vehicle Code or some other law; for example, speeding may violate Vehicle Code 22350 or another provision. In these cases, victims only need to prove cause, thanks to the negligence per se rule. Drivers are liable for damages as a matter of law if:
They violated a law, and
That violation substantially caused the victim’s damages.
In many extreme negligence per se cases, such as drivers with a high BAC or reckless drivers, additional punitive damages may be available as well.
The Federal Reserve aims to keep the cost of lending between banks within a specified band, which it does by buying or selling financial assets.
It is raising that band by a quarter of a percent.
Fed Chair Janet Yellen said the committee judged that a “modest increase” in the rate is appropriate “in light of the economy’s solid progress.”
She added: “Even after this increase, monetary policy remains accommodative, thus supporting some further strengthening in the job market, and a sustained return to 2% inflation.”
The decision was approved with a 9-1 vote. Neel Kashkari, the head of the Fed’s regional bank in Minneapolis, cast the dissenting vote.
This is the second time the Fed has raised rates in three months. It signaled that further hikes this year will be gradual.
The Fed’s statement said its inflation target was “symmetric,” indicating that after a decade of below-target inflation it could tolerate a quicker pace of price rises.
Wall Street stock indexes jumped after the announcement, with the Dow Jones Industrial Average up 112 points at 20,950 in afternoon trading.
The US dollar fell about 0.9% against the euro and more than 1% against the pound.
The Fed’s outlook for the economy changed little, with officials expecting economic growth of 2.1% this year and next year before slipping to 1.9% in 2019.
Those forecasts are far below the 4% growth that President Donald Trump has said he can produce with his economic program.
However, Janet Yellen told reporters that she didn’t believe it is “a point of conflict” between the Fed and the Trump administration.
“We would certainly welcome stronger economic growth in the context of price stability, and if policies were put in place to speed growth… those would be very welcome changes that we would like to see,” she said.