City Credit Capital (UK) está orgulloso en anunciar que la compañía ha ganado el premio para el Mejor Programa de Agentes Introductores de Forex en los prestigiosos Premios FOREX 2018 en el Reino Unido. El anuncio se realizó en la fecha de 26 de septiembre durante la Gala de Ceremonias, celebrada en Londres.

Es la séptima vez que City Credit Capital (UK) ha ganado un premio en los Premios FX del Reino Unido. En 2017, la empresa fue reconocida al ganar el premio para el Mejor Servicio al Cliente.

City Credit Capital (UK) está orgulloso de este prestigioso premio, ya que es testimonio del arduo trabajo y los esfuerzos de nuestro personal y socios por lograr los más altos estándares posibles en un entorno extremadamente competitivo y exigente.

Los Premios Forex del Reino Unido celebran a las corredoras y empresas de FX con mejores resultados en el mercado global. Los premios recompensan a las empresas que defienden la tecnología de vanguardia, el comercio de bajo costo, herramientas integrales de investigación de mercado, programas educativos avanzados y servicio al cliente de primera clase.

City Credit Capital (UK) is proud to announce that the company has won the award for the Best Forex Introducing Broker Programme at the prestigious 2018 UK FOREX Awards. The announcement was made on 26 September during the Gala Event Ceremony, held in London.

It’s the seventh time that City Credit Capital (UK) has won an award at the UK FX Awards. In 2017 the company was recognized by winning the Best Customer Service award.

City Credit Capital (UK) is proud of this prestigious endorsement as it is a testament to the hard work and efforts of our staff and partners in achieving the highest possible standards within an extremely competitive and demanding environment.

The UK Forex Awards celebrate the best performing FX brokerages and companies in the global marketplace. The awards reward companies championing cutting-edge technology, low-cost trading, comprehensive market research tools, advanced educational programs, and world-class customer service.

   •  Bulls show resilience below the 0.70 mark despite a modest USD uptick. 
   •  Pickup in the US bond yields/weaker commodities did little to exert pressure.

The NZD/USD pair built on its modest rebound from over one-week lows and is currently placed at fresh session tops, around the 0.7015-20 region.

The US Dollar stood tall against its major counterpart in anticipation of some hawkish policy outlook from the Federal Reserve, evident from the prevalent positive tone surrounding the US Treasury bond yields. 

The pair, however, defied a modest USD uptick and continues finding decent buying interest at lower levels, showing resilience below the key 0.70 psychological mark. 

Even weaker commodity prices, which tend to undermine demand for commodity-linked currencies, also did little to prompt any selling, with a bout of short-covering helping the pair to recover a major part of overnight weakness. 

Today’s key focus will remain on the outcome of a two-day FOMC meeting, where fresh signals over the central bank’s monetary policy outlook for 2018 should help determine the pair’s next leg of directional move. 

Technical levels to watch

Any subsequent up-move is likely to confront immediate resistance near the 0.7035-40 region and is closely followed by 0.7060 barrier, over one-month tops set on June 6th.

On the flip side, the 0.70 region might continue to protect the immediate downside, which if broken would mark a fresh bearish breakdown and accelerate the downfall towards 0.6965-60 support area.
 

The post NZD/USD refreshes session tops, comfortable above 0.70 handle appeared first on CIX Markets.

Rising global supply worries and firmer DXY weighs down on oil.
Focus shifts to EIA crude data to confirm the bearish API crude inventories report.

WTI (oil futures on NYMEX) seems to have caught a fresh bid-wave in the European session, having reversed a dip below the $ 66 mark, although the bounce looks shallow amid persistent worries over rising global oil production. The output levels in the US, Russia, Saudi Arabia and Kazakhstan are seen on the rise lately, dampening the investors’ sentiment.

More so, the latest Bloomberg report citing a Russian source, as saying that Russia is planning to propose the OPEC and its other allies to return their production to Oct 2016 levels.

Further, oil prices also remain weighed by the bearish API crude inventory report released late-Tuesday.  The API data showed that the US crude oil inventories rose by 830,000 barrels in the week to June 8, to 433.7 million.

Meanwhile, broad-based US dollar buying amidst expectations of a hawkish Fed outcome also keeps the bearish pressure intact on the black gold. A stronger US dollar makes the USD-denominated oil more expensive for the foreign buyers.

The latest leg higher in the barrel of WTI can be mainly attributed to the IEA’s monthly oil report, which highlighted that Iran and Venezuela oil output could slump by almost 30 percent due to US sanctions.

Looking ahead, all eyes remain on the US government official crude supplies report and FOMC decision for fresh direction on the prices.

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The German Institute for Economic Research, commonly known as DIW Berlin, revised their German economic growth forecasts for 2018 & 2019, citing a surprisingly weak start to the year and increasing uncertainty regarding the global economy. 

Key points:

   •  GDP to grow 1.9% in 2018 (prior forecast 2.4%).
   •  GDP to grow 1.7% in 2019 (prior forecast 1.9%).

The post DIW downgrades German growth forecasts for 2018 and 2019 appeared first on CIX Markets.

Analysts at Nomura think it is highly likely that the FOMC will raise rates at the 12-13 June meeting.

Key Quotes

“At this point, it would be extremely surprising were the Committee to forego a rate hike. Economic data have indicated accelerating activity over the intermeeting period, with an unemployment rate at 3.8% and inflation approaching the Committee’s 2% objective. Given that economic momentum has accelerated since March, we expect the Committee’s new rates forecast to reflect a total of four rate hikes in 2018, up from three previously. While a rate hike appears likely, we expect the mechanics of the policy change to be somewhat different in June.”

“Consistent with the May FOMC minutes, we believe the Committee will raise the target range for the federal funds rate by 25bp, to 1.75-2.00%, but will increase the interest rate on excess reserves (IOER) by only 20bp, 5bp lower than the top of the target range. Consistent with the May minutes and recent comments by Governor Brainard and San Francisco Fed President Williams in particular, we expect revisions to the post-meeting statement’s forward guidance language.”

“Finally, we expect Chair Powell’s post-meeting press conference remarks, in addition to explaining the IOER adjustment and forward guidance language changes, to largely adhere to points made by Governor Brainard in her speech on 31 May.”

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