I'd like to add a word too.. enjoy your warning.

It's more Yellen than Obama.

Aussie's move was due to China's poor news. AUD is always tied to China's news as China buys most of the commodity from AUD. AUD takes a hit each time China's news is bad. China's news is just as important as Aussie news for the AUD.

Unfortunately for the Core Durable goods it has a history of missing forecast. Lets see how this one plays out.

Whoa.. big time overshoot but opposite reaction from EU pair..

He said funny pair because there is not much fundamentals in those risk/risk pairs. USD and JPY has always been safe haven pairs (people buy them to be safe/risk aversion) and EU/GBP/AU are all risk pairs that people buy when the market is good and everybody is all in to higher risk trades. AU is mainly liked to commodities and China. EU is purely volume since it is second largest traded currency after USD. GBP... welll.. like people always say.. GBP is GBP and makes it's own wild moves.

DXY is the USD. It is just an index of USD against a basket of 6 currencies. It's the other way around. DXY drop because USD drop or the other 6 currencies go up (which still means the same thing.. USD drop).

That report has minor affect to the USD. Today is the last day of the month. At the end of every month there is always a repatriation of funds back to Euro. Everybody's been selling EURO since FOMC (which really hinted at nothing) and the whole day today, nobody wanted to purchase the EURO even though they have to do it before the month end. All waited until the last moment, the final news before all going in to buy the Euro.

Institutional purchases like these have to happen irrespective of the conditions and you can see this trend close to the end of the month. Usually more obvious in cases like this month when there was selling pressure after FOMC but institutional purchases of EU still have to continue.

They are unlikely to intervene as the USD is still the most sought after currency even with worldwide payment being done electronically. While we have a weak ringgit, the USD is not at a historical high against other major currencies. Most of the currency pairs like EUR/USD, AUD/USD, USD/JPY and GBY/JPY are all around halfway between highest and lowest ever. The US Dollar index against the basket of currencies is around 97. Historical low around 70 (2008) and high around 120 (2001). Even the dollar index is around halfway point between highest to lowest.

Most members here are spot traders and would seldom hedge since most trades are very short term reacting to recent news and events. And the funniest thing here is that almost all spot traders here are dealing only in USD with our brokers so the falling ringgit is actually beneficial to us. Not sure how we can help you here.

That's the problem.. We don't bother with fundamentals of the Ringgit as we don't trade it. We put our money in USD with the brokers and trade with it. Win/Loss comes in the form of USD.

Ringgit is now considered reaching all time low against the Dollar due to both ringgit weakness and dollar strength. We don't see the dollar losing grounds until after the interest rates are confirmed and priced in. That means its all about the ringgit itself and it is being speculated back in 1997 again. As you can read from the news there is a rather large 'put' option for the ringgit priced at RM4. Politics are not helping either.

I'm not sure if they can help you if you are not part of their downlines. It all depends on the arrangement of how IBs are setup by the brokers.

THis is where you need to learn the fundamentals. GBP has been talking about raising interest rates recently. They forecasted that 2 out of the 9 MPC will vote to raise interest rates but ended up with only 1 out of 9 when the meeting minutes came out. After that.. can you spell 'free fall'?

That's because the Greek secured their loan after 23 hours of meeting. Up up and away...

I already answered that last night. Greece has secured loans to pay off debt on Tuesday which started the . CNY devaluation hits AUD hard as I have mentioned before that events in CNY hits AUD the hardest.

You have to understand whether there is any impact on the EU at all. They are immediately less competitive by 2% since CNY devalued its currency by 2% but there is nothing EU can do about it and it won't cause anybody to sell or buy EU because of that. Greece has more impact and securing the loan is positive the for EU.

This is what I think of Whatsapp group...

10am ding.. you have message..

2pm ding.. you have message..

4pm ding.. you have message..

7pm ding.. you have message..

1am ding.. you have message..

3am ding.. you have message..


Mute Whatapps...


6 hours later.. You have 198 unread messages...

But the office means nothing since BNM does not allow forex companies to open branches here. That office would be either illegal or registered under a different name and purpose which also means nothing. One day can be here.. next day can be gone.

But you do know that most of these are setup by IBs and have no relations whatsoever with XM. You already sound like an IB and IBs make good money from their downlines in what we call SLM (Single Level Marketing). They more they trade, the more money you make.

There are only a few large brokers that have actual offices around the world. Oanda is one of them. If you check their Singapore office it states "OANDA Asia Pacific Pte Ltd (Co. Reg. No 200704926K) holds a Capital Markets Services Licence issued by the Monetary Authority of Singapore and is also licenced by the International Enterprise Singapore."

I wanted to use Oanda a long time ago.. but at that time they only had Java trading interface. Didn't have MT4.. hahaha.. yeah.. that long ago.. and almost all indicators/EAs/scripts are based on MT4.

It's actually the other way around. AUD is a commodity currency and not only tied up to Gold. There is also silver and iron and everything else they dig out of Australia. The demand for the commodity will create a demand for the currency. So the actual relation would be AUD will follow Gold.