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HFM: 15 Years of Excellence and Superior Financial Services
It was 2010 when a group of four industry veterans sought to change the paradigm of online trading. Having explored all available platforms and options at the time, they wanted to offer something different, something unique. With a small team and a client-first approach, they set out to help their traders learn and grow, standing by their side every step of the way.This wasn’t an abstract promise; from the beginning, HFM offered webinars hosted by industry experts, in-depth market insights and analysis, as well as a constantly expanding educational solution. These were combined with transparent conditions and one of the most competitive, user-friendly offerings on the market. With all these resources, their traders were empowered to feel confident in every step they made and to embark on a journey of growth. This short video demonstrates HFM’s journey, check it out.A remarkable story of ambitious growthShortly after its founding, HFM was recognised for its hard work and competitive offering by being included in the ‘World Finance Top 100 Global Companies’. 2017 to 2018 were marked by big changes, including expanding their regulatory framework and the launch of their HFcopy copy trading platform and their Mobile Trading app. Moving into the 2020s, the broker has become truly global, counting over 4 million live accounts. Shortly after celebrating its 10th anniversary, it partnered with Paris Saint-Germain F.C becoming their Official Online Trading Partner and entered the e-sports world teaming up with Santos e-sports. By 2025 the company stands stronger than ever, with more than 900 employees, 7 licenses, 80+ industry awards and a strong community of traders across more than 200 countries who have trusted them with their trading.HFM successfully distinguished itself from others by supporting its clients' growth through education, transparency, and a commitment to trustworthiness. Using this as a roadmap, plus the dedication of their growing team, the company will continue to push boundaries and bring even more exceptional learning experiences in the future. New Educational Advances to Build More Confident TradersHFM provides a comprehensive and multi-tiered educational solution that continues to grow with new resources that will launch this year. Whether you’re just starting out or already trading daily, HFM’s exclusive courses are designed to give traders the knowledge and confidence to succeed. These include:● Trader’s video courses: from CFD basics to advanced strategies, taught by industry professionals.● Beginner’s guide: a solid foundation to kickstart any trading journey.● Economic analysis: actionable insights to sharpen market understanding and decision-making.● Risk management & trading plans: practical examples to help protect capital and trade with discipline.To see a complete list of HFM’s educational offerings and the upcoming materials, visit their trading education page. Step into the markets today with HFM, where knowledge builds confidence.
This article was written by IL Contributors at investinglive.com.
US stock futures fade from the best levels but strong open coming
The market wasn't quite sure what to do with the FOMC decision yesterday. On the chart you can see the volatility following the announcement and Powell's comments.In the overnight session, the mood began to improve and that continued until European trading. In the past couple hours there has been s a modest drift lower but S&P 500 eminis remain up 40 points, or 0.6%.Tech is leading the way with Nasdaq futures up 1% led by Intel, which is up 28% after the announcement that Nvidia will invest $5 billion in it to develop data center and PC products. Shares of Nvidia are also up 3%.
This article was written by Adam Button at investinglive.com.
US September Philly Fed business index +23.2 vs +2.5 expected
Prior was -0.3Details:Employment: 5.6 vs 5.9 last monthPrices paid: 46.8 vs 66.8 last month (was at multi-year highs last month)New orders: +12.4 vs -1.9 last monthShipments: 26.1 vs 4.5 last monthUnfilled orders: -6.6 vs -16.8 last monthDelivery time: -3.4 vs -5.4 last monthInventories: 15.0 vs -6.2 last monthAverage workweek: 14.9 vs 4.7 last monthSix-months from now indicators:6 month index: 31.5 vs 25.0 last monthCapex index 6-month forward: 12.5 vs 38.4 last monthNew orders vs 39.2 last monthPrices paid vs 68.4 last monthEmployment vs +12.7 last monthThe Empire Fed manufacturing survey earlier this week was at -8.7 compared to +5.0 expected and +11.9 previously. This index is The special question in the report indicates a nice pickup in business.
This article was written by Adam Button at investinglive.com.
US initial jobless claims 231K vs 240K expected
Prior 263K (revised to 264K)Continuing claims 1920K vs 1950K expectedPrior 1939K (revised to 1927K)The data is better than expected across the board and continuing claims seem now on a downward trend. Last week, we got a spike in initial claims but it was later reported that they were negatively affected by a big spike in Texas and those filings were fraudulent.The prior number for initial claims was supposed to be revised lower but it got revised a tick higher. Anyway, what's important is that jobless claims are still solid and continuing claims are improving.
This article was written by Giuseppe Dellamotta at investinglive.com.
investingLive European markets wrap: Stocks climb after Fed decision, BOE stays on hold
Headlines:US futures continue to ramp higher on the sessionBOE leaves bank rate unchanged at 4.00% in September monetary policy decisionWas the Fed decision dovish or hawkish? Let's see what we got compared to market pricingFed decision has a little bit of something for everyoneECB's de Guindos: Present policy stance is appropriateEurozone July current account balance €27.7 billion vs €35.8 billion priorSwitzerland August trade balance CHF 4.01 billion vs CHF 4.59 billion priorMarkets:EUR leads, NZD lags on the dayEuropean equities higher; S&P 500 futures up 0.7%US 10-year yields down 1.6 bps to 4.060%Gold up 0.2% to $3,666.78WTI crude up 0.4% to $64.31Bitcoin up 1.3% to $117,178Markets continued to digest the Fed decision from yesterday for the most part in European trading today. And with all else happening, it seems that market players are leaning towards wanting US data to prove their Fed pricing wrong. As such, it was a case of carrying on as you will - at least before we get to US trading today.Equities bounced back with US futures pointing to solid gains at the open later. S&P 500 futures are up 0.7% with tech shares leading the way, as Nasdaq futures are up 1.0%. That is helping to see European indices jump up as well with the DAX and CAC 40 posting over 1% gains on the day.In FX, the dollar was firmer earlier on but has lost some ground during the session. EUR/USD fell to 1.1780 earlier in the day but is now trading back up slightly to 1.1820 with the high earlier touching 1.1848. USD/JPY is steadier though, seen up 0.3% to 147.40.Meanwhile, GBP/USD is down after the BOE kept its bank rate unchanged at 4.00%. The pair was holding around 1.3650 earlier but is now down 0.1% on the day to 1.3611 despite not much meaningful change in the BOE communique.NZD/USD is the laggard, down 1.0% to 0.5901 after a more dismal NZ Q2 GDP from earlier in the day.Elsewhere, we are seeing gold also recover some poise after dropping to a low of $3,634 during the session. The precious metal is back up by 0.2% to $3,666 now with dip buyers moving quickly as the post-Fed musings continue to play out.With the focus returning to US data to either reaffirm market expectations or invalidate them, we'll have a quick test of that later today from the US weekly initial jobless claims. So, that could yet sway the post-Fed mood before we get to the weekend later this week.
This article was written by Justin Low at investinglive.com.
US Hassett: Fed rate decision good first step
Economic growth is coming without inflationMiran's analysis is 'heartfelt' and not affected by politics (sure bud...)No knowledge of Nvidia stake deal similar to Intel arrangementRare earths were a potential bottleneck for the US economyFocused this week on American farmersThat's a nice joke about Miran's analysis. Miran projected 6! rate cuts by year-end but sure, it wasn't affected by politics.
This article was written by Giuseppe Dellamotta at investinglive.com.
USDCAD little changed after BoC and FOMC as the focus turns back to economic data
Fundamental
OverviewThe USD yesterday weakened
across the board on the Fed’s decision but eventually erased all the losses and
increased the gains as traders digested all the information and realised it was
more hawkish compared to market pricing. In fact, the dot plot
showed that the FOMC projected two more rate cuts for 2025 by a narrow
majority, with the rest of officials expecting just one more or even none.
Moreover, the Fed projected just one cut in 2026 compared to three that the
market was pricing before the decision.Fed Chair Powell then
labelled the rate cut as a “risk management” action given the weakening in the
labour market data. But overall, he sounded pretty neutral even though he
understandably placed more emphasis on the labour market given the two consecutive
soft NFP reports. Looking forward, it’s going
to be all about the data. Strong data will likely trigger a hawkish repricing
in interest rates expectations and support the greenback. On the other hand,
weak data will likely continue to weigh on it. On the CAD side, the BoC
cut interest rates by 25 bps as expected following the very weak Canadian employment report. Overall, the central bank stressed
the need to remain attentive to risks and setting policy on a meeting-by-meeting
basis. The market pricing remained largely unchanged with 19 bps of easing
priced in by year-end and 60% probability of no change at the upcoming meeting
in October. Summary of BoC and FOMC decisionsUSDCAD
Technical Analysis – Daily TimeframeOn the daily chart, we can
see that USDCAD dropped all the way back to the 1.3720 level. This support
could also be the neckline of the head and shoulders pattern formed at the 1.3862
resistance. The buyers will likely
continue to step in around the support with a defined risk below it to position
for a rally into the 1.40 handle. The sellers, on the other hand, will want to
see the price breaking lower to increase the bearish bets into the 1.3540 low next.USDCAD Technical
Analysis – 4 hour TimeframeOn the 4 hour chart, we can
see that we have a minor downward trendline
defining the bearish momentum. The sellers stepped in around the trendline with
a defined risk above it to target a break below the neckline. The buyers, on
the other hand, will want to see the price breaking higher to increase the
bullish bets into the 1.3862 resistance next.USDCAD Technical
Analysis – 1 hour TimeframeOn the 1 hour chart, we can
see that we have a minor support zone around the 1.3765 level. This is where we
can expect the buyers to step in with a defined risk below the support to
position for a rally into the 1.3862 resistance. The sellers, on the other hand,
will look for a break lower to increase the bearish bets into the 1.3720
support targeting a breakout. The red lines define the average daily range for today. Upcoming CatalystsToday we get the latest US Jobless Claims figures.
Tomorrow, we conclude the week with the Canadian retail sales data.
This article was written by Giuseppe Dellamotta at investinglive.com.
BOE leaves bank rate unchanged at 4.00% in September monetary policy decision
Prior 4.00%Bank rate vote [cut-unchanged-hike] 2-7-0 vs 2-7-0 expected (Dhingra, Taylor voted to cut by 25 bps)Underlying disinflation has generally continued, although with greater progress in easing wage pressures than pricesPay growth remains elevated, but has fallen and is expected to slow significantly over the rest of the yearUpside risks around medium-term inflationary pressures remain prominentDownside domestic and geopolitical risks around economic activity remainA gradual and careful approach to the further withdrawal of monetary policy restraint remains appropriateThe restrictiveness of monetary policy has fallen as the bank rate has been reducedMonetary policy is not on a pre-set pathThe timing and pace of future reductions in the restrictiveness of policy will depend on the extent to which underlying disinflationary pressures continue to easeFull statementPretty much everything is as expected with the bank rate vote also reflecting what markets were thinking coming into the decision. Dhingra and Taylor remain the two more dovish members, advocating for a 25 bps rate cut. However, there was no drama like we saw in August with regards to the decision today.As for the statement language, the key parts from August are all retained as the central bank reaffirms a more gradual and careful approach in pursuing further rate cuts. So, there's not really anything new for traders to act upon here.
This article was written by Justin Low at investinglive.com.
AUDUSD recovers early losses with the focus turning back to US data
Fundamental
OverviewThe USD yesterday weakened
across the board on the Fed’s decision but eventually erased all the losses and
increased the gains as traders digested all the information and realised it was
more hawkish compared to the market pricing. In fact, the dot plot
showed that the FOMC projected two more rate cuts for 2025 by a narrow
majority, with the rest of officials expecting just one more or even none.
Moreover, the Fed projected just one cut in 2026 compared to three that the
market was pricing before the decision.Fed Chair Powell then
labelled the rate cut as a “risk management” action given the weakening in the
labour market data. But overall, he sounded pretty neutral even though he
understandably placed more emphasis on the labour market given the two consecutive
soft NFP reports. Looking forward, it’s going
to be all about the data. Strong data will likely trigger a hawkish repricing
in interest rates expectations and support the greenback. On the other hand,
weak data will likely continue to weigh on it. On the AUD side, the RBA
cut interest rates by 25 bps as widely expected at the last meeting but didn’t
offer much in terms of forward guidance, although their focus switched more
towards the labour market. The employment
report today missed expectations, but the unemployment rate held steady.
All in all, it was slightly weak but nothing that should prompt the RBA to cut
rates. In fact, the market pricing remained unchanged with an 82% probability of
no cut at the upcoming meeting and 30 bps of easing by year-end. AUDUSD
Technical Analysis – Daily TimeframeOn the daily chart, we can
see that AUDUSD eventually extended the rally into the top trendline where we got a rejection as
the sellers stepped in. We have an upward trendline defining the bullish
momentum and if we get a pullback into it, we can expect the buyers to lean on
the trendline with a defined risk below it to position for a rally into new
highs. The sellers, on the other hand, will look for a break lower to increase
the bearish bets into the 0.6350 support zone. AUDUSD Technical
Analysis – 4 hour TimeframeOn the 4 hour chart, there’s
not much we can glean from this timeframe, so we need to zoom in to see some
more details.AUDUSD Technical
Analysis – 1 hour TimeframeOn the 1 hour chart, we can
see that we have a significant support zone around the 0.6635 level. We probed
below it but eventually rallied back above it. The buyers will likely continue
to step in around the support to keep targeting new highs, while the sellers
will look for a break lower to increase the bearish bets into the major
trendline. The red lines define the average daily range for today. Upcoming CatalystsToday we get the latest US Jobless Claims figures.
This article was written by Giuseppe Dellamotta at investinglive.com.
Gold recovers to turn back higher on the day
Markets are still largely digesting the Fed decision from yesterday but so far in European trading, it's been a case of fading the overnight moves. The outcome of the FOMC meeting had a bit of something for everyone and traders look to be erring to the side of sticking with the status quo in the run up to the Fed this week. That at least for now, with the US weekly initial jobless claims also still to get through later.Gold traded down earlier to a low of $3,634 and that threatened to see a near-term downside break. The drop saw price fall below both its 100 (red line) and 200-hour (blue line) moving averages for the first time in four weeks. But alas, it is looking like that could just be a false breakout. Now, we're seeing price action move back up above both key near-term levels as buyers wrestle back near-term control:The thing about the Fed decision yesterday is that while it wasn't that dovish, the details don't really take away much from what markets have priced in before this week. As such, the bigger picture outlook remains the same until US economic data releases in the weeks ahead prove otherwise.Typically once the Fed begins to ease monetary policy, they tend to keep that going. So, that is something to keep in mind as well. For gold, that could yet keep the upside leg running with many houses now calling for a push to $4,000 next.That being said, I still wouldn't rule out a short-term pullback before we start to get into the stronger seasonal months in December and January.
This article was written by Justin Low at investinglive.com.
People were wrong about Waller and Bowman: they weren't driven by politics
There's been a popular narrative throughout the year about Fed's Waller and Fed's Bowman. Both of them were apppointed by Trump in his first term and given that they started to call for rate cuts before all the other governors, people started to think that they were led by political reasons.In reality, Waller and Bowman were the only ones right about the labour market. Waller in particular has been making very good cases for rate cuts and his forecasts proved to be right. He expected inflation to reach 3% and then dissipate, and he called for rate cuts because he was expecting more weakness in the labour market. Inflation did rise to 3% (although we still don't know if it's going to dissipate) and the labour market did weaken more than expected.The narrative about the Fed losing independence because of Trump appointments took a big hit yesterday. In fact, the FOMC showed unity since all the voters voted for 25 bps cut and only one voted for 50 bps. The one voting for 50 bps was Miran. Miran was also the only one projecting 6 rate cuts by year-end. Miran was of course driven by political reasons, but since he's been basically emarginated from the rest, what he does or says in the next months won't matter at all.Going back to Waller and Bowman, they voted for 25 bps despite calling for a rate cut already in July. Since then we got two consecutive soft NFP reports and despite that, they decided to vote for just 25 bps alongside their colleagues. This showed unity and independence. People also forget that Powell was also appointed by Trump and despite that, he kept running monetary policy independently. Trump's attempt to fire Fed's Cook is also looking like it's not going to work. We are now even getting reports that the US Treasury Secretary Bessent made similar mortgage claims cited by Trump to fire Cook. So, even if next year we get a lackey as Fed Chair, the FOMC will still be independent as monetary policy is decided on a majority basis.
This article was written by Giuseppe Dellamotta at investinglive.com.
Was the Fed decision dovish or hawkish? Let's see what we got compared to market pricing
Yesterday, ahead of the Fed decision, I wrote down all the things that were expected and all the potential surprises. Let's see what we got...STATEMENTThe changes in the statement were as expected. The Fed acknowledged the weakening in the labour market and maintained the lines about elevated inflation and uncertainty. So, the only surprise here was the voting split. In fact, the expectations were for two or three members voting for a 50 bps cut (Miran, Waller, Bowman), instead we got just one (Miran). This was slightly hawkish.DOT PLOTThe changes in the dot plot, on the other hand, were definitely more hawkish than the market pricing. The market was pricing 68 bps of easing by year-end (three cuts in 2025) and cumulatively 148 bps of easing by the end of 2026 (three more cuts in 2026). The Fed, instead, matched the market pricing for 2025 but projected just one more cut in 2026. Moreover, if we look at the details, the three cuts in 2025 were reached by a narrow majority. In fact, 10 members projected two or more rate cuts in 2025 and 9 projected one or less. We had 1 member projecting a rate hike (likely Hammack), 6 members projecting no cuts, 2 members projecting one cut, 9 members projecting two cuts and 1 member projecting six cuts (Miran, of course). PRESS CONFERENCEThis is where it's harder to get an objective view. If we take Powell's Jackson Hole speech as the baseline, he didn't really deviated much from that. He understandably placed more emphasis on the labour market given that we got two consecutive soft NFP reports but didn't sound that much concerned about the recent data saying that it's mostly because of immigration changes.He also labelled the rate cut as a "risk management" action, which could mean that if the data were to strengthen in the next months, he might focus more on inflation and therefore we could get less than the two cuts projected yesterday.Overall, I think he once again did a great job by balancing everything without leaning on either side, so that the economic data in the coming months will have the final say on their next moves. SUMMARYTo sum up, I don't think yesterday's decision can be labelled as dovish at all. I'd say it was neutral to hawkish. It's just the recent weakening in the labour market data that forced the Fed to move towards neutral as a "risk management" action. This means that if the data were to improve in the next months, the Fed would start to sound more hawkish.
This article was written by Giuseppe Dellamotta at investinglive.com.
European indices open higher as investors take in the Fed decision
Eurostoxx +0.8%Germany DAX +1.0%France CAC 40 +0.6%UK FTSE +0.1%Spain IBEX +0.6%Italy FTSE MIB +0.8%This comes as US futures are also looking buoyed for the time being, with S&P 500 futures seen up 0.5% currently. The Fed did not lean all too dovishly with their decision yesterday but overall, it had a little something for everyone. In the case of equities, it typically is the case that dip buyers will spin the narrative to their favour one way or another. And for now, it is the fact that the onus is on US data to prove the more dovish market pricing wrong for October and December.
This article was written by Justin Low at investinglive.com.
USDJPY shoots higher as the Fed's projections disappoint the doves
Fundamental
OverviewThe USD yesterday weakened
across the board on the Fed’s decision but eventually erased all the losses and
increased the gains as traders digested all the information and realised it was
more hawkish compared to the market pricing. In fact, the dot plot
showed that the FOMC projected two more rate cuts for 2025 by a narrow majority,
with the rest of officials expecting just one more or even none. Moreover, the
Fed projected just one cut in 2026 compared to three that the market was
pricing before the decision.Fed Chair Powell then
labelled the rate cut as a “risk management” action given the weakening in the
labour market data. But overall, he sounded pretty neutral even though he understandably
placed more emphasis on the labour market given the two consecutive soft NFP
reports. Looking forward, it’s going
to be all about the data. Strong data will likely trigger a hawkish repricing
in interest rates expectations and support the greenback. On the other hand,
weak data will likely continue to weigh on it. On the JPY side, we haven’t
got meaningful changes in the fundamentals. The yen has been rallying mostly on
the back of the dovish expectations for the Fed. Tomorrow, we have the BoJ
decision where the central bank is expected to keep everything unchanged and
the focus will be on their forward guidance. USDJPY
Technical Analysis – Daily TimeframeOn the daily chart, we can
see that USDJPY eventually broke out of the range to the downside and dropped
into the major trendline around the 145.60 level. The buyers
stepped in with a defined risk below the trendline to position for a rally into
the 151.00 handle. The sellers, on the other hand, will want to see the price
breaking below the trendline to pile in for a drop into the 143.00 handle next.
USDJPY Technical
Analysis – 4 hour TimeframeOn the 4 hour chart, we can
see that we now have a minor downward trendline defining the bearish momentum. The
sellers are likely to lean on the trendline with a defined risk above it to position
for a drop into the major upward trendline targeting a breakout. The buyers, on
the other hand, will look for a break higher to increase the bullish bets into
the 151.00 handle next.USDJPY Technical
Analysis – 1 hour TimeframeOn the 1 hour chart, there’s
not much else we can add here but if we get a pullback from the downward trendline,
we can expect the buyers to step in around the minor support zone at 146.70 to position for a break above
the trendline, while the sellers will look for a break lower to increase the
bearish bets into the major upward trendline. The red lines define the average daily range for today.Upcoming
CatalystsToday we get the latest US Jobless Claims figures, while
tomorrow we conclude the week with the Japanese CPI and the BoJ policy
decision. Watch the video below
This article was written by Giuseppe Dellamotta at investinglive.com.
What are the main events for today?
In the European session, we don't have anything on the agenda leading up to the BoE policy decision. The BoE is expected to keep the bank rate unchanged at 4.00% with a 7-2 vote split and slow the pace of QT to £67.5 billion from £100.0 billion currently. The market is pricing just 10 bps of easing by year-end and 42 bps by the end of 2026. The central bank is unlikely to deviate much from its prior guidance and should put more emphasis on inflation again.In the American session, the focus will turn to the US Jobless Claims report. Initial Claims are expected at 240K vs 263K prior, while Continuing Claims are seen at 1950K vs 1939K prior. As a reminder, the last week's release showed Initial Claims jumping to a new cycle high and the highest level since 2021. Later, it turned out that the initial claims data was negatively skewed by a big spike in Texas and those filings were fraudulent. Therefore, we can expect them to be revised lower and remain in the same 4-year range with 260K as a ceiling.The Jobless Claims report will be the first important labour market report since yesterday's Fed decision and it's going to be market-moving, especially if we get notable deviations. The Fed yesterday leant on a more hawkish side compared to market's pricing and even though they projected two more rate cuts by the end of the year, the economic data in the next weeks and months could still change that. Therefore, we remain slaves to the data.
This article was written by Giuseppe Dellamotta at investinglive.com.
Eurostoxx futures +0.3% in early European trading
German DAX futures +0.3%French CAC 40 futures +0.2%UK FTSE futures +0.1%This comes with US futures also keeping higher, with S&P 500 futures up 0.4% on the day. Tech shares are leading the charge there though, with Nasdaq futures up 0.5% while Dow futures are up 0.3%. But overall, it points to a better mood although we are also seeing the dollar hold firmer to start the day in Europe.
This article was written by Justin Low at investinglive.com.
Gold Trading Opportunities in 2025: Why EC Markets Stands Out
Gold has always held a special place in
financial markets, serving as a hedge against economic uncertainty, inflation,
and geopolitical risk. In 2025, global events continue to create volatility
across major currencies and equities, making gold trading more relevant than
ever. Traders around the world are turning to gold not only as a safe-haven
investment but also as a versatile instrument for both short-term speculation
and long-term portfolio protection.However, accessing gold markets
efficiently requires the right broker, and that is where EC Markets stands out. With
spreads on gold starting from just 26–29 pips and leverage up to 1:1000,
traders can execute strategies with greater precision and lower costs. This is
particularly crucial for intraday traders who need to act fast, as well as
longer-term investors seeking to maximize returns on hedges.The story of a trader in Singapore
illustrates this perfectly: during a sudden spike in gold prices due to market
uncertainty, having access to tight spreads and high leverage allowed the
trader to capitalize on short-term opportunities while keeping risks
controlled. EC Markets’ platforms, MT4 and MT5, provide advanced charting
tools, technical indicators, and real-time market data to ensure that traders
can act quickly and make informed decisions.Industry reports suggest that gold
trading volumes are rising globally, especially in regions like Asia and the
Middle East, where investors view gold as a store of value amid currency
fluctuations. EC Markets leverages its global reach with offices in nine
countries, providing local support and multilingual customer service to meet
these demands. This combination of local expertise and global coverage gives
traders the confidence to trade gold efficiently, wherever they are.Beyond execution, fund protection is a
major consideration. EC Markets provides segregated accounts, negative balance
protection, and insurance coverage up to $1,000,000 per client through Lloyd’s
of London, ensuring traders’ investments are secure. In a market where trust is
increasingly paramount, this level of protection gives EC Markets an edge over
less regulated brokers.Education is another key differentiator.
Many traders underestimate the complexity of gold trading, failing to account
for macroeconomic factors such as interest rates, currency fluctuations, and
global supply-demand dynamics. EC Markets’ trading academy and daily technical
analysis help traders understand these factors, turning what might seem like a
volatile market into a calculated opportunity.With the right strategy, tools, and
support, gold trading can be highly rewarding in 2025. EC Markets combines
industry-leading execution, high leverage, tight spreads, educational
resources, and strong fund protection, making it the broker of choice for
traders seeking to navigate the gold market with confidence.
This article was written by IL Contributors at investinglive.com.
Switzerland August trade balance CHF 4.01 billion vs CHF 4.59 billion prior
Prior CHF 4.59 billion; revised to CHF 4.62 billionThe Swiss trade surplus narrowed slightly in August, with the trend in exports and imports as per the following:
This article was written by Justin Low at investinglive.com.
Fed decision has a little bit of something for everyone
So, the Fed moved to cut interest rates by 25 bps yesterday. Let's summarise the key parts of the decision and Fed chair Powell's press conference.The decision only saw Trump nominee Miran as the sole dissenter, voting for a 50 bps rate cutBowman and Waller did not join the more dovish camp, which was a possibilityFed chair Powell reaffirmed that "there wasn't widespread support at all for a 50 bps rate cut today"Latest dot plot projection shows 10 members expecting at least two more 25 bps rate cuts this yearMeanwhile, 9 members are expecting just one more 25 bps rate cut by year-endThe balance is skewed by Miran, who has his 2025 dot at 2.875% - in wanting a 50 bps rate cut at every meeting2026 dot plot median seen at 3.4%, 2027 dot plot median seen at 3.1% - both meeting expectationsFed chair Powell labels the decision as a "risk management" cutAdds that labour market risks were the focus of the decision, as inflation risks are "a little bit less" nowBut he also goes on to maintain that the Fed is on a data-dependent path, taking things meeting by meetingSo, what can we make of all of that by putting everything together?In short, the Fed may yet still be on track to cut rates again in October and one more time in December. Powell said he did not give his "blessing" to the current market pricing but that doesn't mean they aren't going to take that into consideration. Market players are focusing on softer labour market conditions and that is what the Fed acknowledged yesterday.That puts heavy focus on the next non-farm payrolls release on 3 October. If the trend continues, the Fed should be poised to cut rates again next month. But if there is some evidence of a rebound in jobs, that might yet take things off the table.Nothing is a given but the onus is now on US data to prove markets wrong. As things stand, traders are still pricing in ~44 bps of rate cuts by year-end. The balance is skewed closer towards two 25 bps rate cuts than one more 25 bps rate cut currently.The dot plots weren't as dovish to convince of a more aggressive easing cycle, that despite Miran's skew. Meanwhile, Bowman and Waller not hopping on the 50 bps bandwagon this week means that policymakers are still heavily contemplating existing economic conditions before really taking a bolder step.The next FOMC meeting decision will fall on 29 October, so we'll have another month with a full slate of US economic data to digest before getting to that.As far as yesterday's decision goes, there is a little bit of something for everyone. And that means at the end of the day, there might not be all much to work with given what markets have priced in before the decision.The dollar is firmer for now but nothing to suggest a material turnaround in sentiment, besides a near-term pullback to the more dovish pricing in the run up to the Fed. Meanwhile, equities are still seeing dip buyers step in with conviction as the Fed communique mostly just reaffirms what is already priced in.As mentioned above, it's more so of a case now that US data has to prove market pricing wrong. Otherwise, there's not much of a need to overreach and/or overinterpret the FOMC meeting decision this week.
This article was written by Justin Low at investinglive.com.
FX option expiries for 18 September 10am New York cut
There is arguably just one to take note of on the day, as highlighted in bold below.There's been a mixed reaction to the Fed so far as broader markets are still digesting the developments from yesterday. The dollar is firmer but stocks look to be bouncing back, though it doesn't take much to convince dip buyers these days. But amid a slight bounce back in the dollar, we are seeing large expiries in EUR/USD come into play.The one today will be at the 1.1800 mark and could very well play a part in locking price action and acting more as a magnet. That as traders continue to duke it out in trying to figure out the balance in which broader markets are leaning after the Fed.That said, the Fed decision is one that seems to have something for everyone. So, it might be tough to tip the scales too heavily on the hawkish or dovish side with what's priced in by markets at this stage.For more information on how to use this data, you may refer to this post here.Head on over to investingLive (formerly ForexLive) to get in on the know!
This article was written by Justin Low at investinglive.com.
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