CryptoCurrency News: Tether Confirms Its Relationship With Auditor Has 'Dissolved'

The statement, provided Saturday evening, confirms the suspicions of online sleuths and is likely to raise new questions about the company's finances.

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[FOREX TIP] USDCHF Weekly Forex Forecast – 29th Jan to 2nd Feb 2018

 

USDCHF Weekly Forex Forecast – 29th Jan to 2nd Feb 2018

Technical Outlook: The USDCHF currency pair broke down below the 0.9455 level of support. However, the Stochastics oscillator is strongly in the oversold area which could indicate a rebound. Price action could be seen consolidating around the current lows. A move above 0.9455 will however signal the potential for a correction towards 0.9741. To the downside, in the event that price action continues to decline further, then we could expect to see USDCHF testing the next support level at 0.9270.

Fundamental Outlook: Economic data from Switzerland is light with only the retail sales numbers coming out. Most of the volatility in the USDCHF will be driven by data from the U.S. which looks to a rather busy week ahead. Starting with the core PCE price index, the data will set the tone for shaping expectations from the Fed on its next rate hike. On Wednesday, the FOMC meeting is scheduled. No changes are expected at this meeting and the Fed is likely to maintain a neutral tone. On Friday, the monthly economic data will be coming out. This includes the U.S. ISM manufacturing PMI followed by Friday’s non-farm payrolls report for the month of January.

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USDCHF Weekly Forex Forecast – 29th Jan to 2nd Feb 2018

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[FOREX TIP] USDJPY Weekly Forex Forecast – 29th Jan to 2nd Feb 2018

 

USDJPY Weekly Forex Forecast – 29th Jan to 2nd Feb 2018

Technical Outlook: The USDJPY finally extended the declines to the downside as price action touched down to the 108.43 support level. Off this level, we could expect to see a modest rebound taking place. USDJPY could remain range bound within the 110.66 resistance and 108.43 support. A breakout from either of these levels will signal the next leg in the direction of the trend. However, the bias is looking to the upside and we expect USDJPY to potentially retest the resistance level at 110.66 – 110.91 level. A breakout above this level could potentially keep USDJPY biased to the upside for further gain towards 112.07.

Fundamental Outlook: Data from Japan this week will focus on the unemployment rate numbers that will be coming out on Monday. The unemployment rate in Japan fell last month to 2.7%. although this was good news for the Japanese economy, the lack of wage pressures saw a muted reaction from the markets. The BoJ is pinning hopes that the shirinking unemployment rate could eventually push wages higher as the labor market conditions become tighter. We will also see some consumption data as the retail sales figures will be released. The BoJ’s measure of core CPI will be coming out on Tuesday and could offer a glimpse into the inflation data for the economy. Later in the week, the final manufacturing PMI numbers will be released..

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USDJPY Weekly Forex Forecast – 29th Jan to 2nd Feb 2018

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[FOREX TIP] EURUSD Weekly Forex Forecast – 29th Jan to 2nd Feb 2018

EURUSD Weekly Forex Forecast – 29th Jan to 2nd Feb 2018

Technical Outlook: The EURUSD rose to a fresh 4-year high last week as the U.S. dollar weaked and the ECB’s monetary policy did saw the central bank leaving monetary policy unchanged. However, the brief rally was quickly met with price retracement. By Friday’s close, EURUSD was seen consolidating near the 1.2423 level. We expect this consolidation to continue in the term as it could potentially form a bullish flag pattern. An upside breakout could see EURUSD extending further gains. But there is a risk as the rally has seen little retracements in the near term. Therefore, we expect a downside correction towards 1.2284 in case the bullish flag pattern fails. To the upside, price will need to rise above the previous highs posted at 1.2500 to post further gains.

Fundamental Outlook: The markets will be heading into the end of January and data from the Eurozone will focus on the economic performance for the first month of the year. The week ahead will be marked by preliminary CPI data from Germany, France and Spain. This will potentially suggest the state of inflationary pressures for the Eurozone during the month of January. The flash GDP estimates for the fourth quarter of 2017 will also be released this week. However, this poses no risk as the Eurozone GDP is expected close at a record high. Flash estimates are also expected from France and Germany during the week. On Friday, the flash PMI numbers will be confirmed with the final manufacturing and services PMI numbers for January..

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EURUSD Weekly Forex Forecast – 29th Jan to 2nd Feb 2018

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[FOREX TIP] Monthly Forex News Events that Might Affect EURUSD Volatility – Feb 2018

Monthly Forex News Events that Might Affect EURUSD Volatility – Feb 2018

The EURUSD has continued to outperform in 2018 resuming the bullish trend left in 2017. There are no sights that the current bullish run is over. Not even the January ECB monetary policy decision could derail the bullish momentum. While we might see EURUSD overbought we still need a strong fundamental driver to change the momentum to the downside.

The Fed is still expected to hike the benchmark interest rate three times this year. However, on the other side of the monetary policy spectrum, we have the ECB which according to many voices from the board members we can expect QE unwinding to start in the summer.

In essence, the EURUSD s driven by both central banks: the Fed and the ECB. The ECB President Mario Draghi has expressed some worries over the recent Euro strength. This will make it harder for the ECB to implement an exit strategy of its quantitative easing program.

After a very volatile and active month of January, we’re headed into a period of more volatility due to the disconnection between the current fundamentals and the currency exchange rates. The February seasonal pattern sees the US dollar having a strong range bound activity that can see EURUSD spiking on both sides of the market.

The seasonal pattern only gives us the tendency of a particular currency to exhibit a certain behavior at a certain time, so we have to carefully monitor the pattern and how the fundamental forces interact with the price action. Going forward, we’re going to analyze and disseminate the major news event for the upcoming month that can be the catalyst for higher EURUSD volatility.

“Don’t risk significant money in front of key reports, since that is gambling not trading.”
– Paul Tudor Jones

Monthly Forex News Events that Might Affect EURUSD Volatility – Feb 2018

Governor Jerome Powell, Yellen successor will become the new Fed Chairman as Yellen’s four-year term as the Fed chief will come to an end early February. Powell has a more moderate rhetoric when it comes to the monetary policy.

However, Powell is expected to follow the gradual interest rate increase policy of Yellen and in this regard, there is lots of predictability which markets love.

Now, let’s move forward and see what the biggest risk events in February 2018 are:

• Thursday, February 1, 2018 – The first day of February will bring the ISM Manufacturing PMI which advanced to their fastest pace since 2004 showing a robust activity in the manufacturing sector.
• Friday, February 2, 2018 – First Friday of the new month will bring the NFP job report, which can be the catalyst for some trend development. The Non-Farm payrolls only grow by a modest 148k in December and the market consensus is again for a figure near the 200k mark. We saw a healthy labor market in 2017 that has sent the unemployment rate to 4.1% a 17-year low, a trend that is expected to continue in 2018 as well.
• Wednesday, February 8, 2018 – The ECB monetary policy meeting accounts will give traders further clues on the ECB’s next steps.
• Wednesday, February 14, 2018 – The US CPI inflation figures is an important news event for the market. In December we saw consumer inflation posting the largest increase in the latest 11 months reaching 2.1%.
• Thursday, February 15, 2018 – The German GDP for the last quarter of 2017 and the Euro zone GDP is scheduled to be released. The German economy grows by 2.3% while the EU zone economy grows by 2.2% the fastest pace in a decade.
• Monday, February 19, 2018 – We have the US President’s Day which means that we’ll have low level of trading activity.
• Wednesday, February 28, 2018 – The preliminary US GDP figures are scheduled to be released. The initial US GDP figures only showed that the US economy grows at a modest pace of 2.6% versus a 3% reading.

The ECB and the Fed don’t have monetary policy decisions scheduled for this month of February.

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CryptoCurrency News: A Haven for Blockchain: The Case for Wyoming

Three bills in the state legislature, combined with zero taxes and cheap power, should make Wyoming a competitive location for blockchain businesses.

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CryptoCurrency News: The Opportunity for Interoperable Chains of Chains

Just THE blockchain? A world of blockchains for blockchains is coming, and it might be closer than you think.

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