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Thread: Forex news from InstaForex(Part 2)

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    COLOMBIA: Colcap Trades Down As Tax Reform In The U.S. Weighs



    Colcap, the main index of the Colombian Stock Exchange, traded down 0.42% at 1,440.31 points Tuesday, weighed by the perception that the tax reform in the United States would lure investors to the country, with a detrimental effect on emerging markets, according to Erika Baquero, an analyst at Alianza Valores.

    Avianca shares ended stable after the company announced that it signed a code-share agreement with Air China. Grupo Energ?a Bogot? (GEB) (-0.72%) reported that the Ministry of Finance and Public Credit of Colombia, authorized an External Loan Agreement with a group of banks of up to US$ 749 million.

    The shares of Canacol (+0.40%), and ?xito (+0.24%) are rising, while Cemex (-2.55%), ISA (-1.43%), Sura (-1.21%), and Ecopetrol (-0.56%) are falling.

    The locally traded U.S. dollar closed at 2,996.50 Colombian pesos, marking a 0.15% rise, due to the expectation of a rate hike by the United States Federal Reserve Bank in 2018. Daniel Escobar, an analyst at Alianza Valores, noted that the market expects three rate adjustments in 2018, from two, which would have favored the greenback rebound.

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    Bitcoin Breaks Through $12, 000 Mark for the First Time



    In early Asian trading, Bitcoin's value rose above the $12, 000 mark, as the digital currency continued its rally. The digital currency last traded at $12, 123.98, according to CoinDesk.

    The digital currency started the year at less than $1, 000 per token, but in recent months has shown a stellar upward movement: it reached $5, 000 in October and rose above $11, 000 for the first time less than two months later, CoinDesk data showed.

    The most recent surge brings the cryptocurrency's total market value to around $203 billion.

    The digital token's rally comes amid widespread criticism from Wall Street analysts and financial institution personalities.

    Despite this, many elements of the financial world have welcomed the new crypto asset class. Major exchanges such as CME and CBOE have legitimized the cryptocurrency's investment credentials by announcing their plans to introduce future contracts to their respective exchanges in the near future.

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    ---------- Post added 12-07-2017 at 05:11 AM ---------- Previous post was 12-06-2017 at 06:11 AM ----------

    ARGENTINA: Vehicle Production Rises 3.1% On Month In November



    Vehicle production in Argentina hit 45,228 units in November, 3.1% more than in October, but 3.7% less than in the same month last year, said the country's Association of Automotive Manufacturers (ADEFA).

    The sector exported 19,122 vehicles - 9.7% less than in the previous month, and 11.2% below the volume recorded in the same month of 2016.

    In wholesale sales, the sector sold 78,631 units, a volume that was 5.7% over the previous month's record, and 26% higher compared to November last year.

    Year-to-date, the automotive sector produced 438,878 units, 1.4% more than in the same period of the previous year.

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    ---------- Post added at 05:40 AM ---------- Previous post was at 05:11 AM ----------

    Australian Dollar Slides to Two-Week Low after Trade Data Miss Estimates



    The Australian dollar declined to a two-week low on Thursday after published economic data showed its trade surplus contracted in October, clocking in below estimates as exports weakened.

    According to the Australian Bureau of Statistics, the country's balance of goods and services was a surplus of A$105 million for October. The figure was down from A$1.6 billion in September and missed estimates of A$1.4 billion by economists

    Exports declined 3 percent in October compared to the prior month's A$903 million, missing estimates of 3 percent growth. Outbound shipments of non-rural goods declined 5 percent while rural goods slid 2 percent.

    Imports increased 2 percent month on month, defying expectations that inbound shipments would be flat.

    The Aussie declined 0.3 percent versus the greenback to its lowest since November at $0.7544 after the data publication.

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    RBNZ’s Spencer Warns About Bitcoin’s Bubble Qualities, Instability



    Reserve Bank of New Zealand Acting Governor Grant Spencer warned that Bitcoin's remarkable rally looks like a speculative bubble and its instability makes it unuseful in the future.

    The New Zealand central banker said that the bitcoin is looking 'remarkably like a bubble forming'. He said that there have been bubbles over the centuries, but bitcoin looks like a classic case. He also warned that with such a bubble, there is no telling how far it will go before it drops.

    So far this year, the cryptocurrency has surged more than 1,500 percent and around 85 percent in just the last two weeks, as people clamber to acquire the digital currency on hopes that it will be a widely-accepted and legitimate alternative to gold or traditional cash. Trading in bitcoin futures starts this week.

    Spencer said that in his view, bitcoin is highly similar to gold, which also has to be mined, has a fixed quality and the price is very volatile.

    RBNZ is currently doing research on the demand for the kiwi or the New Zealand dollar and whether it would be possible at some point in the future to replace the currency with a digital alternative, however, Spencer said that bitcoin should not a basis for this scenario. He said that given bitcoin's lack of stability, it would not be useful.

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    ---------- Post added at 06:07 AM ---------- Previous post was at 05:06 AM ----------

    New Zealand Govt Appoints Adrian Orr As Central Bank Governor



    The New Zealand government appointed Adrian Orr as Reserve Bank Governor for a five year term.

    "Following the Reserve Bank Board's unanimous recommendation to me, I have appointed Adrian Orr for a five-year term at the completion of Acting Governor Grant Spencer's term," Finance Minister Grant Robertson, said.

    The appointment will take effect on March 27, 2018.

    Robertson said Orr has the technical and leadership qualities required to be Governor and CEO of the Reserve Bank.

    He is currently the Chief Executive Officer of the New Zealand Superannuation Fund, a position he has held since 2007.

    Orr is set to oversee the bank through the government's planned review of the Reserve Bank Act.

    Orr has the standing and ability to manage this process of change as Governor of the Bank, Robertson said.

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    ---------- Post added 12-12-2017 at 03:47 AM ---------- Previous post was 12-11-2017 at 06:07 AM ----------

    Australia Q3 House Prices Ease 0.2% On Quarter



    Residential property prices in Australia fell 0.2 percent on quarter in the third quarter of 2017, the Australian Bureau of Statistics said on Tuesday.

    That missed forecasts for a gain of 0.5 percent following the 1.9 percent jump in the previous three months.

    On a yearly basis, house prices were up 8.3 percent - again missing forecasts for 8.8 percent and down from 10.2 percent in the three months prior. The capital city residential property price indexes fell in Sydney (-1.4 percent), Perth (-1.0 percent), Darwin (-2.6 percent) and Canberra (-0.2 percent) and rose in Melbourne (+1.1 percent), Brisbane (+0.7 percent), Adelaide (+0.7 percent) and Hobart (+3.4 percent).

    Annually, residential property prices rose in Hobart (+13.8 percent), Melbourne (+13.2 percent), Sydney (+9.4 percent), Canberra (+6.9 percent), Adelaide (+4.8 percent) and Brisbane (+3.5 percent) and fell in Darwin (-6.3 percent) and Perth (-2.4 percent).

    "The fall in Sydney property prices this quarter was consistent with market indicators," said ABS Chief Economist Bruce Hockman.

    The total value of residential dwellings in Australia was A$6.779 trillion at the end of the September quarter, rising A$14.843 billion over the quarter.

    The mean price of residential dwellings fell A$1,200 to A$681,100 and the number of residential dwellings rose by 40,200 to 9,954,100 in Q3.

    Also on Tuesday, the latest survey from National Australia Bank showed that consumer confidence in Australia slowed in November with an index score of +6.

    That's down from the upwardly revised +9 in October (originally +8).

    Business conditions also slowed in November with index coming in at a score of +12, down sharply from +21 in the previous month.

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    ---------- Post added at 05:03 AM ---------- Previous post was at 03:47 AM ----------

    Canadian Dollar Little Changed Ahead of Fed Meeting, Poloz Speech



    The Canadian dollar was nearly flat versus the US currency as investors turned their focus on this week's Federal Reserve interest rate hike decision as well as a speech by Bank of Canada Governor Stephen Poloz.

    The loonie fell 1.3 percent the previous week after the central bank delivered a more dovish tone than investors had anticipated. The Bank of Canada kept its benchmark interest rate at one percent.

    The Canadian central bank is concerned about a number of uncertainties that could impact the nation's economy, which includes renegotiations on the North American Free Trade Agreement.

    NAFTA talks convene in Washington next week for a limited round of negotiations aimed at demonstrating progress toward closing easier chapters.

    The U.S. central bank is widely expected to hike interest rates at its two-day policy meeting, and is seen possibly tightening rates two or three times next year.

    The Canadian dollar traded in a narrow range of C$1.2832 to C$1.2868. On Friday, it reached its weakest level in a week, at C$1.2880.

    According to U.S. Commodity Futures Trading Commission data and Reuters calculations, speculators reduced bullish wagers on the Canadian currency.

    Canadian government bond prices were lower across much of a flatter yield curve, with the two-year off by 1.5 Canadian cents to yield 1.512 percent and the 10-year dropping 1 Canadian cent to yield 1.862 percent.

    The gap between Canada's two-year yield and its U.S. equivalent widened by 1.5 basis points to a spread of -31.1 basis points.

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    ---------- Post added at 05:09 AM ---------- Previous post was at 05:03 AM ----------

    Canadian Dollar Little Changed Ahead of Fed Meeting, Poloz Speech



    The Canadian dollar was nearly flat versus the US currency as investors turned their focus on this week's Federal Reserve interest rate hike decision as well as a speech by Bank of Canada Governor Stephen Poloz.

    The loonie fell 1.3 percent the previous week after the central bank delivered a more dovish tone than investors had anticipated. The Bank of Canada kept its benchmark interest rate at one percent.

    The Canadian central bank is concerned about a number of uncertainties that could impact the nation's economy, which includes renegotiations on the North American Free Trade Agreement.

    NAFTA talks convene in Washington next week for a limited round of negotiations aimed at demonstrating progress toward closing easier chapters.

    The U.S. central bank is widely expected to hike interest rates at its two-day policy meeting, and is seen possibly tightening rates two or three times next year.

    The Canadian dollar traded in a narrow range of C$1.2832 to C$1.2868. On Friday, it reached its weakest level in a week, at C$1.2880.

    According to U.S. Commodity Futures Trading Commission data and Reuters calculations, speculators reduced bullish wagers on the Canadian currency.

    Canadian government bond prices were lower across much of a flatter yield curve, with the two-year off by 1.5 Canadian cents to yield 1.512 percent and the 10-year dropping 1 Canadian cent to yield 1.862 percent.

    The gap between Canada's two-year yield and its U.S. equivalent widened by 1.5 basis points to a spread of -31.1 basis points.

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    Bitcoin Scales New Record High in Rally Towards $20, 000



    The digital currency Bitcoin reached another record peak on Tuesday, two days after the debut of the bitcoin futures on a U.S. exchange and before the launch of another futures contract next week, raising investors' hope that the Bitcoin is nearing the $20, 000 mark.

    On Sunday, Cboe Global Markets introduced bitcoin futures, allowing investors to experience trading with the cryptocurrency through a large, regulated exchange. On December 17, CME Group is expected to launch its own futures contract.

    The biggest cryptocurrency in the world was priced at $17, 310 on Bitstamp exchange, up 5.1 percent on the day. Early on Tuesday, bitcoin rose to a record high of $17, 428.42, recording an almost 20-fold rise in its value for the year as it attracted millions of new investors.

    However, as bitcoin hit a new record, digital currency exchange operators Coinbase and Bitfinex reported issues with service via their website, causing problems for traders looking to lock in their profits on the latest gains in the value of bitcoin and other cryptocurrencies.

    Meanwhile, the one-month bitcoin futures on Cboe Futures Exchange traded slightly tepid, with prices generally stead and volumes around a third of those seen on Monday. Bitcoin futures due on January traded at $18, 450 with around 1,416 contracts traded.

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    ---------- Post added at 06:06 AM ---------- Previous post was at 05:25 AM ----------

    South Korea Money Supply Growth Accelerates Slightly



    South Korea's money supply growth accelerated marginally in October after remaining stable in the previous month, preliminary figures from Bank of Korea showed Wednesday.

    M2, a broad measure of money supply climbed 4.7 percent year-over-year in October, just above the 4.6 percent rise in the prior month.

    On a monthly basis, M2 money supply rose 0.8 percent in October, following a 0.2 percent increase in September.

    The annual growth in liquidity moderated to 6.0 percent in October from 6.7 percent a month ago.

    Liquidity of financial institutions grew at a stable rate of 5.9 percent yearly in October.

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    ---------- Post added 12-14-2017 at 04:55 AM ---------- Previous post was 12-13-2017 at 06:06 AM ----------

    China Retail Sales Rise 10.2% In November



    Retail sales in China were up 10.2 percent on year in November, the National Bureau of Statistics said on Thursday.

    That missed forecasts for 10.3 percent but was still up from 10.0 percent in October.

    The bureau also noted that industrial production advanced an annual 6.1 percent - matching forecasts and down from 6.2 percent in the previous month.

    Fixed asset investment was up 7.2 percent, again in line with expectations and slowing from 7.3 percent a month earlier.

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    ---------- Post added at 05:11 AM ---------- Previous post was at 04:55 AM ----------

    Australian Dollar at 1-Month Peak as Jobless Rate Near 5-Year Lows



    The Australian dollar rose to a one-month peak on Thursday after the jobless rate remained steady for the third straight month in November while number of full time roles increased.

    According to the Australian Bureau of Statistics, the jobless rate stood at 5.4 percent for the third month in a row and is also at its lowest level since 2013. The participation rate jumped to 65.5 percent, highs not seen since early 2011.

    Australian employment grew the most in over two years and is extending a run of 14 consecutive month of gains.

    According to figures from the ABS, 61,600 net new jobs were added in November, compared with forecasts for an 18,000 rise and above an upwardly revised 7,800 gain in October. The number of full-time jobs rose in November with 41,000 jobs added. October's figures were revised upwards to 31,000 full-time roles from 24,300.

    Following the publication of the data, the aussie increased by 0.4 percent against the greenback to $0.7668, a one-month peak. The data will be welcomed by the Reserve Bank of Australia which is hoping the strong run in employment would ultimately lead to higher wages growth and inflation.

    However, it appears that companies are not so keen on paying workers more, which left wage growth near record lows. Wage growth is moving at 2.0 percent, only slightly above inflation of 1.8 percent. This weighs on the spending power of Australian consumers who are already facing a mountain of debt.

    Latest figures showed that Australia's economy picked up at an annual 2.8 percent pace in the third quarter.

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    ---------- Post added 12-15-2017 at 05:09 AM ---------- Previous post was 12-14-2017 at 05:11 AM ----------

    U.S. Yield Curve Further Flattens on Rising Fed Hike Expectations



    Yields on long-dated bonds declined, while short-dated yields rallied after the publication of strong economic data, however, weak expectations for future inflation increased the possibility that the Federal Reserve would tighten monetary policy at a more aggressive rate in 2018.

    The 10-year Treasury yield edged up 0.7 basis point to 2.346 percent. Meanwhile, the two-year note yield advanced 2.4 basis points to 1.811 percent. The yield on the long bond or the 30-year note rose 2.8 basis points to 2.710 percent.

    The yield curve flattened after the U.S. central bank's estimates and economic projections on Wednesday underlined the Fed's willingness to normalize monetary policy despite the weakness in inflation. Investors said expectations of more hikes have accelerated the curve's flattening as it showed that the Fed would not wait for inflation to pick up before making a move.

    Long-dated yields were also limited after ECB President Mario Draghi echoed his traditional dovish comments, stating that an “ample” level of stimulus was required to bolster inflation. This dashed expectations that the central bank would make changes to its language from easing to tightening in anticipation of a sure exit to its bond purchasing program in September 2018.

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    ---------- Post added at 05:12 AM ---------- Previous post was at 05:09 AM ----------

    U.S. Yield Curve Further Flattens on Rising Fed Hike Expectations



    Yields on long-dated bonds declined, while short-dated yields rallied after the publication of strong economic data, however, weak expectations for future inflation increased the possibility that the Federal Reserve would tighten monetary policy at a more aggressive rate in 2018.

    The 10-year Treasury yield edged up 0.7 basis point to 2.346 percent. Meanwhile, the two-year note yield advanced 2.4 basis points to 1.811 percent. The yield on the long bond or the 30-year note rose 2.8 basis points to 2.710 percent.

    The yield curve flattened after the U.S. central bank's estimates and economic projections on Wednesday underlined the Fed's willingness to normalize monetary policy despite the weakness in inflation. Investors said expectations of more hikes have accelerated the curve's flattening as it showed that the Fed would not wait for inflation to pick up before making a move.

    Long-dated yields were also limited after ECB President Mario Draghi echoed his traditional dovish comments, stating that an “ample” level of stimulus was required to bolster inflation. This dashed expectations that the central bank would make changes to its language from easing to tightening in anticipation of a sure exit to its bond purchasing program in September 2018.

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    ---------- Post added at 06:14 AM ---------- Previous post was at 05:12 AM ----------

    Indonesia Exports Rise More Than Expected In November



    Indonesia's exports and imports grew more than expected in November, data from statistics bureau revealed Friday.

    Exports rose 13.18 percent year-over-year in November, faster than the 12.63 percent growth economists had forecast.

    Imports surged 19.62 percent in November from a year ago, well above the expected spike of 13.0 percent.

    As result, the trade surplus shrank notably to around $130 million in November from $833 million in the corresponding month of 2016.

    The expected surplus was $844 million. In October, the surplus totaled $1.0 billion.

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    South Korea Inflation Gains 0.3% In December



    Consumer prices in South Korea were up 0.3 percent on month in December, Statistics Korea said on Friday.

    That follows the 0.7 percent monthly decline in November.

    On a yearly basis, inflation advanced 1.5 percent - up from 1.3 percent in the previous month.

    Core CPI, which excludes food prices, gained 0.2 percent on month and 1.5 percent on year in December after slipping 0.3 percent on month and rising 1.4 percent on year a month earlier.

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    ---------- Post added at 05:21 AM ---------- Previous post was at 04:51 AM ----------

    US Treasury Yields Higher on Positive Economic Data

    U.S. government debt yields increased on Thursday following the release of good economic data which showed that the count of Americans filing for unemployment benefits was steady while the Chicago PMI surpassed expectations.

    The yield on the benchmark 10-year Treasury note was higher at around 2.431 percent, while the yield on the 30-year Treasury bond increased to 2.761 percent. Bond yields move inversely to prices.

    U.S. government debt yields fell on Wednesday, following data that showed a decline in consumer confidence during the month of December.

    The U.S. Treasury auctioned $28 billion in 7-year notes at a high yield of 2.37 percent. The bid-to-cover ratio, an indicator of demand, was 2.55. Indirect bidders, which include major central banks, were awarded 60.5 percent. Direct bidders, which include domestic money managers, were awarded 13.1 percent.

    According to a report from the Department of Labor, the number of Americans applying for state unemployment benefits remained unchanged in the previous week. The Chicago PMI for December increased to 67.6, the highest level since March 2011, according to Reuters.

    Trade is expected to be lighter across global markets as investors await the beginning of a new year.

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    Thailand Manufacturing Sector Expands In December



    Thailand's manufacturing activity expanded marginally in December, survey data from IHS Markit showed Wednesday.

    The seasonally adjusted Nikkei Manufacturing Purchasing Managers' Index rose to 50.4 in December from 50.0 in November. Any reading above 50 indicates expansion in the sector.

    Among components, growth in both output and new orders were key drivers for the upturn, but employment and input inventories fell further.

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    ---------- Post added at 05:52 AM ---------- Previous post was at 05:27 AM ----------

    Eurozone Manufacturing Sector Growth at Record High in December



    Eurozone factories finished 2017 by growing at their quickest pace in over two decades, which indicates a much better than expected year for businesses in the bloc.

    The eurozone manufacturing purchasing managers' index in December came in at 60.6, its highest level since surveys began in mid-1997, according to latest figures shown. Any figure above 50 indicates growth over the month.

    The figures confirmed earlier “flash” estimates, which implied the sector had marked its best annual performance on record, while new national-level data pointed to broad-based growth across the continent.

    Businesses in Germany, Ireland and Austria all posted record growth, while Greece faced its best results for almost a decade.

    Eurozone factory activity is surpassing its peers, including Britain. That has added to expectations that the European Central Bank, which this month will reduce its monthly bond purchases, will shutter the program later this year.

    The factory output index, which feeds into a broader set of data including services, increased to 62.2 from 61.0 in November. That was its highest in more than 17 years and a reading surpassed only once in the survey's over two decades of history.

    The ECB currently expects the eurozone economy to have grown by 2.4 percent in 2017, compared with estimates of just 1.7 percent at the beginning of 2018.

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    ---------- Post added 01-04-2018 at 05:11 AM ---------- Previous post was 01-03-2018 at 05:52 AM ----------

    China Services PMI Climbs To 53.9 In December - Caixin



    The services sector in China continued to expand in December, and at an accelerated pace, the latest survey from Caixin showed on Thursday with a PMI score of 53.9.

    That's up from 51.9 in November, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

    Also, the composite index came in at 53.0 - up from 51.6 in the previous month.

    Individually, there was a solid increase in services activity, accompanied by faster growth in manufacturing output.

    Employment remained broadly stable.

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    ---------- Post added at 05:40 AM ---------- Previous post was at 05:11 AM ----------

    Tesla Falls on Further Delay of Model 3 Production Target



    Tesla Inc. pushed back a production target for its new Model 3 sedan for the second time, disappointing investors and causing its shares to slide.

    The electric-car maker now projects completing the production of 2,000 Model 3s per week by the end of the first quarter, postponing plans to hit a milestone by another three months. Tesla said it would likely assemble around 5,000 vehicles per week by the end of the second quarter.

    The announced delay in production targets caused shares of the company to fall in extended trading. The stock fell by as much as 2.7 percent after the end of regular trading to $308.80.

    The Model 3 is seen as a key to Tesla's long-term success, as it is the most affordable among its cars to date and is the only one with the capacity to transform the niche carmaker to a mass producer amid a number of competitors who are making their push into the electric vehicle market.

    Assembling the car in an efficient manner and delivering it without any setbacks to customers is also critical as the company faces high cash burn. The company burned through $1.1 billion in capital expenditures in its third quarter and said in November that Q4 capex would be around the same figures in the previous quarter. The delays also increases the risk that reservation-holders would junk their orders.

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    ---------- Post added 01-05-2018 at 05:21 AM ---------- Previous post was 01-04-2018 at 05:40 AM ----------

    Australia Has A$628 Million Trade Deficit



    Australia had a seasonally adjusted merchandise trade deficit of A$628 million in November, the Australian Bureau of Statistics said on Friday.

    That was well shy of forecasts for a surplus of A$550 million following the downwardly revised (302 million shortfall in October (originally a surplus of A$105 million).

    Imports were up A$467 million or 1.0 percent on month to A$32.481 billion in November.

    Consumption goods rose A$213 million (3 percent), while capital goods rose A$190 million (3 percent) and intermediate and other merchandise goods rose A$81 million (1 percent).

    Non-monetary gold fell A$100 million (25 percent) and services debits rose A$83 million (1 percent).

    Exports were roughly flat at A$31.853 billion, up A$141 million from a month earlier.

    Non-rural goods rose A$394 million (2 percent) and rural goods rose A$25 million (1 percent), while non-monetary gold fell A$425 million (23 percent).

    Net exports of goods under merchanting remained steady at A$53 million. Services credits rose A$147 million (2 percent).

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    ---------- Post added at 06:02 AM ---------- Previous post was at 05:21 AM ----------

    U.S. Yields Rally as Investors Eye Jobs Data



    U.S. government bond yields edged higher, driving Treasury bond prices lower, as investors weighed in data on jobless claims and private-sector payrolls a day before the release of the official December U.S. jobs report.

    Yield on the ten-year Treasury note trimmed an earlier gain to close at 2.452 percent, rising by around 0.7 basis point, while the two-year Treasury note yield advanced 2 basis points to 1.955 percent. The yield on the 30-year Treasury bond advanced marginally to 2.783 percent.

    On Wednesday, Treasury yields retreated after minutes from the Federal Reserve's December meeting underlined divisions over the pace of future monetary policy tightening.

    The following day, attention was diverted towards the labor market as investors priced in the private-sector employment data from payroll-services company ADP and stood by for data on weekly jobless claims, with yields continuing their rally after a solid reading from ADP.

    ADP reported private-sector payrolls increased 250, 000 in December. First time jobless claims in the week ended December 30 came in at 250, 000 versus a revised 248, 000 a week earlier. The figure is higher than the 240, 000 estimated initial claims.

    But markets are mostly focused on the December jobs to be released in Friday. Friday's jobs data is expected to show an increase of 198, 000 in December nonfarm payrolls after a 228, 000 increase in November. The jobless rate is estimated to remain steady at 4.1 percent, while average hourly earnings are projected to increase 0.3 percent after a 0.2 percent in November.

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    Asian Stocks Rally as Investors Await Corporate Earnings



    Asian shares edge up on Monday on the back of solid gains in Wall Street from the last season. Due to the lack of economic data releases during the session, majority of investors are on standby for earnings releases from regional corporates later this week.

    Australia's S&P/ASX 200, rising 0.21 percent in the morning. The country's “Big Four” banks traded higher on the day, with ANZ rising 0.52 percent. Gold producers, on the other hand, fell, with the All Ordinaries Gold index sliding by 0.93 percent.

    South Korea's Kospi was near break even levels, inching up 0.08 percent after sliding earlier below the flat line. Increases in retailers and steelmakers were countered by the losses in several heavyweight tech stocks. Samsung Electronics and SK Hynix declined 1.04 percent and 1.39 percent respectively.

    Japanese markets are closed in celebration of the Coming of Age Day.

    MSCI's broad index of shares in the Asia Pacific region, excluding Japan, stood 0.09 percent higher.

    The yen trader against dollar at 113.11, while the Australian dollar was mostly steady at $0.7859.

    Asian markets notched multi-year highs during the first trading week of the year. Hong Kong's Hang Seng Index reached its highest level in 10 years and Japan's Nikkei 225 Index surged to levels not seen in 26 years in the previous trading day.

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    ---------- Post added 01-09-2018 at 05:14 AM ---------- Previous post was 01-08-2018 at 05:31 AM ----------

    Australia's Consumer Confidence Improves Sharply



    Australia's consumer confidence strengthened notably during the week ended January 8, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed Tuesday.

    The consumer confidence index climbed to 122.0 from 116.5 in the preceding week. Moreover, this was the highest score since November 2013.

    All the sub components showed significant increases during the week.

    Consumers remained optimistic about financial conditions, which rose to the highest since early 2017. "ANZ-Roy Morgan Australian Consumer Confidence starts the year on a high as the festive mood carries on to 2018,"

    ANZ's head of Australian Economics, David Plank, commented.

    "Continued strength in the labor market, and a strong performance in the Ashes series likely helped sustain the cheer among consumers."

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    ---------- Post added at 05:44 AM ---------- Previous post was at 05:14 AM ----------

    German Manufacturing Orders Drop in November



    German manufacturing orders slipped in November, marking its first decline since July 2017 on the back of a drop in domestic and international demand.

    The gauge was down 0.4 percent in November from October on a seasonally and working day adjusted basis. The October reading was revised upwards to a rise of 0.7 percent from 0.5 percent previously, according to data by the Federal Statistics Office.

    The Economy Ministry, detailing the figures, said the decline in November was a result of fluctuations in large orders but adds that the trend remained strongly upwards.

    A breakdown of the data showed domestic orders dropped 0.4 percent on the month and foreign orders by 0.5 percent.

    According to ING economist Carsten Brzeski, the overall fall ”is rather of a technical nature than any sign of weakness.

    Germany is facing robust domestic demand supported by record-high employment, rising real wages and low borrowing costs while its exporters are benefiting from a global economic recovery.

    The Ifo economic institute forecasts the German economy to grow by 2.6 percent in 2018, pointing to a broad upswing that is generating employment and buoyant tax revenues.

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    ---------- Post added 01-10-2018 at 05:21 AM ---------- Previous post was 01-09-2018 at 05:44 AM ----------

    China Inflation Rises 1.8% On Year In December



    Consumer prices in China were up 1.8 percent on year in December, the National Bureau of Statistics said on Wednesday.

    That missed expectations for an increase of 1.9 percent but was up from 1.7 percent in November.

    On a monthly basis, inflation gained 0.3 percent following the flat reading a month earlier.

    The bureau also said that producer prices jumped an annual 4.9 percent, exceeding forecasts for a gain of 4.8 percent but down from 5.8 percent in the previous month.

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    ---------- Post added at 06:02 AM ---------- Previous post was at 05:21 AM ----------

    US Job Openings, Layoffs Drop in November



    U.S. job openings dropped for the second consecutive month in November with declines in the manufacturing and real estate sectors, supporting economist forecasts that job growth will slow this year.

    The monthly Job Openings and Labor Turnover Survey, or JOLTS, by the Labor Department, also showed that layoffs fell to a six-month low, however, showing sustained labor market strength.

    Job openings, a measure of labor demand, fell by 46,000 to a seasonally adjusted 5.88 million, the lowest level since May. The job openings rate was 3.8 percent, a decline from October's 3.9 percent.

    The JOLTS report revealed that layoffs fell 7,000 to 1.67 million in November. That was the lowest level since May and marked five consecutive months of drops.

    Industries including manufacturing, business services and transportation and warehousing had fewer openings than in October, while available positions rose in construction and retail, the JOLTS report showed.

    Hiring declined 104,000 to 5.49 million in November, and the hiring rate fell to 3.7 percent from 3.8 percent. Economists expect job growth this year to slow to well below the 2017 monthly average of 170,000 as the labor market reaches full employment.

    The jobless rate is at a 17-year low of 4.1 percent and economists expect it to decline to 3.5 percent by the end of this year. Non-farm payrolls increased 148,000 in December.

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    ---------- Post added 01-11-2018 at 05:32 AM ---------- Previous post was 01-10-2018 at 06:02 AM ----------

    VENEZUELA: Country And China Review Projects To Increase Oil Production



    Representatives of the Venezuelan oil company PDVSA and the China National Petroleum Corporation (CNPC) reviewed the scope of their Petrosinovensa joint venture and other joint projects aiming at accelerating oil production.

    The meeting was held at the PDVSA facilities in Caracas, where the Oil Minister and PDVSA's chairman Manuel Quevedo hosted Jia Yong, president of CNPC America and representative of CNPC for Latin America.

    "China and Venezuela are strategic allies to consolidate our nation as a power. We will continue advancing and working, and in the next meeting, which will occur after January 16, we will establish the advances of this very positive meeting," Quevedo said.

    Venezuela and China are jointly carrying out several projects in the oil sector, such as the development of the joint ventures Petroleo Sinovensa, Petrozumano, Petrourica and Petrolera Sino Venezolana.

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    ---------- Post added at 05:54 AM ---------- Previous post was at 05:32 AM ----------

    Global Economy to Rise to 3.1% in 2018 - World Bank



    The World Bank is expecting global economic expansion to increase to 3.1 percent this year following a much stronger-than-expected 2017, as the rebound in investment, manufacturing, and trade continues, while commodity-exporting developing economies benefit from firming commodity prices.

    The world's economic output expanded three percent last year as more than half of economies accelerated, due to a rebound in investment, manufacturing activity and trade, bank economists said.

    However, the World Bank warned that over the longer term, slowing potential growth—a measure of how fast an economy can expand when labor and capital are fully employed—puts at risk gains in improving living standards and reducing poverty around the world.

    Expansion in advanced economies is expected to moderate slightly to 2.2 percent in 2018.

    Growth in emerging market and developing economies as a whole is seen to strengthen to 4.5 percent this year, as activity in commodity exporters continues to recover.

    The slowdown in potential growth is the result of years of weakening productivity growth, weak investment, and the aging of the global labor force. The deceleration is widespread, affecting economies that account for more than 65 percent of global GDP.

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    China Exports Rise More Than Forecast



    China's exports grew at a faster-than-expected pace in December, data from the General Administration of Customs showed Friday.

    In dollar terms, exports advanced 10.9 percent year-over-year in December, just above the 10.8 percent rise economists had forecast.

    Imports increased 4.9 percent in December from a year ago, much slower than the expected growth of 15.1 percent.

    The trade surplus totaled $54.69 billion in December versus the expected surplus of $37.0 billion.

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    ---------- Post added at 06:02 AM ---------- Previous post was at 05:23 AM ----------

    U.S. Producer Prices Drop, Unemployment Claims Rise



    U.S. producer prices dropped for the first time in almost 1-½ years in December amid falling costs for services, which could weigh on expectations that inflation will pick up this year.

    Separate data showed that initial claims for jobless benefits rose for the fourth consecutive week to over a three-month peak. Winter and snow in parts of the United States likely kept some workers at home, which accounts for the previous week's rise in unemployment claims.

    The U.S. Federal Reserve is projecting three rate hikes for 2018. It raised rates three times in 2017.

    According to the Labor Department, its producer price index for final demand dropped 0.1 percent in December. It was the first decline in the PPI since August 2016 and followed two consecutive monthly growth of 0.4 percent.

    The PPI increased 2.6 percent from the same period in 2016, after accelerating 3.1 percent in November.

    A key gauge of underlying producer price pressures, excluding food, energy and trade services, climbed 0.1 percent in December. The so-called core PPI rose 0.4 percent in November. It increased 2.3 percent in the 12 months through December after rising 2.4 percent in November.

    In the separate report, the Labor Department said initial claims for state unemployment benefits rose 11,000 to a seasonally adjusted 261,000 for the week ended Jan. 6, the highest level since late September.

    Claims have risen since mid-December, though the data tend to be volatile during year-end holidays.

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    New Zealand Food Prices Fall For Fourth Month



    New Zealand's food prices declined for the fourth straight month in December, figures from Statistics New Zealand showed Monday.

    Food prices dropped 0.8 percent month-over-month in December, faster than the 0.4 percent fall in November.

    Grocery food and seasonally cheaper fruit and vegetables were the main factors in the dip in food costs.

    After four successive monthly rises, butter prices dropped 4.9 percent.

    On a yearly basis, food prices grew at a stable rate of 2.3 percent in December.

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    ---------- Post added at 06:21 AM ---------- Previous post was at 05:52 AM ----------

    Asian Stocks Rise on Upbeat Economic Growth Outlook



    Asian stocks started 2018 on a strong foot and are on track for a new record peak amid optimism in global growth.

    Equity markets from Sydney to Hong Kong gained. U.S. markets are closed on Monday for the Martin Luther King Jr. holiday after the S&P 500 index ended on Friday at an all-time peak.

    Japanese shares were advancing even after appreciation in the yen the past week, with Softbank Group benefiting from speculation of a listing for its mobile unit.

    Developments in the global economy have been lifting morale in the early part of this year while equities are building on the impressive gains from 2017.

    Retail sales fuelled optimism in the American economy and JPMorgan Chase & Co. signaled that the recent tax reduction law will raise profits. A pick up in U.S. core inflation offered another indication that the recovery is gathering pace nine years following the global recession.

    Money managers will evaluate progress in corporate America this week with more earnings releases, while results are scheduled across the world from companies in a range of sectors. Growth data from China will also be in focus this week, as well as ongoing negotiations to form a coalition government in Germany.

    Meanwhile, the dollar remains weak, pulled down by strong gains in the euro.

    The common currency remained near a three-year peak on wagers that central bank stimulus will be pared back further in Europe as its economy mends.

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    ---------- Post added 01-16-2018 at 05:00 AM ---------- Previous post was 01-15-2018 at 06:21 AM ----------

    BRAZIL: Ibovespa Rises To New Record On Expiring Stock Options



    Ibovespa, the benchmark stock index in Brazil, rose 0.51% to 79,752.37 points Monday - a new record settlement - influenced by expiring stock options and data suggesting that the economic recovery in the country gained strength in November. The United States market holiday limited the local trading volume.

    Analysts said that the Ibovespa might be pricing a conviction of the former Brazilian President Luiz In?cio Lula da Silva in a trial scheduled for January 24. A court defeat could bar Lula from running for President in October.

    "The holiday in the United States removes liquidity from the stock market, but investors are expecting January 24 much more than anything else, and apparently the stakes continue to be at Lula's conviction," said the chief economist of Home Broker Modalmais, Alvaro Bandeira. In the short term, analysts expect Ibovespa to follow a bullish trend. The index remained at record levels even after Brazil's rating downgrade by S&P last week.

    For Bandeira, the inflow of foreign investment has offset bad news and helped to sustain Ibovespa's good momentum. However, Rico Investimentos analyst Roberto Indech noted that this week brings some data in Brazil and abroad that may weigh on the stocks.

    Meanwhile, the locally traded U.S. dollar turned positive in the final stretch of the trading day. The greenback's performance was influenced by the holiday of Martin Luther King in the United States, which reflected in lower trading volume. As a result, the locally traded currency closed slightly higher (+0.09%), at R$ 3,210.

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    ---------- Post added at 05:39 AM ---------- Previous post was at 05:00 AM ----------

    Global Automakers Urge Trump Administration Not to Terminate NAFTA



    Major automakers urged the Trump administration not to terminate the North American Free Trade Agreement and hopes that the United States, Canada and Mexico will be able to conclude a modernized and improved trade pact.

    Trump has threatened to withdraw from NAFTA, which is heavily utilized by automakers that have production and supply chains spread across the three countries.

    Fiat Chrysler Automobiles Chief Executive Sergio Marchionne said he hoped the Trump administration would “retune” some of its trade talk demands.

    Marchionne said FCA's truck production shift in part “goes a long way I think in addressing some of President Trump's concerns about the dislocation of production capacity out of the United States.”

    That decision reduces the risk those trucks would be hit with a 25 percent tariff if NAFTA unravels.

    Ford Motor Co CEO Jim Hackett said NAFTA needs “to be modernized,” adding that of Detroit's Big Three automakers, Ford has the highest percentage of U.S.-built vehicles.

    General Motors CEO Mary Barra expressed optimism NAFTA will survive with improvements. Other senior GM executives stood by the company's plans to continue building trucks in Mexico.

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    ---------- Post added 01-17-2018 at 05:23 AM ---------- Previous post was 01-16-2018 at 05:39 AM ----------

    Singapore NODX Rises Less Than Expected In December



    Singapore's non-oil domestic exports increased at a slower-than-expected pace in December, data from the International Enterprise Singapore showed Wednesday.

    NODX climbed 3.1 percent year-over-year in December, well below the 9.1 percent spike in November. Economists had expected a 8.6 percent rise for the month.

    Exports of electronic products declined 5.3 percent annually in December, reversing a 5.1 percent growth in November.

    At the same time, non-electronic NODX rose 6.8 percent after expanding 10.6 percent in the prior month.

    On a monthly basis, NODX decreased a seasonally adjusted 5.0 percent in December, following a 8.6 percent gain in

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    ---------- Post added at 05:55 AM ---------- Previous post was at 05:23 AM ----------

    UK Inflation Rate Drops to 3%, the First Decline for 6 Months



    UK inflation rate has dropped for the first time since June, mainly due to the impact of air fares. The rate fell to three percent in December, pulling back from November's rate of 3.1 percent, a six-year peak.

    According to the Office for National Statistics, although airfares increased the previous month, it had a smaller impact than at the same point in 2016.

    Inflation fell because the annual December rise in air fares was not as high as the previous year, the rate of price growth for recreational goods, including games and toys, also dropped. These categories are particularly sensitive to a fall in the exchange rate.

    The ONS said it was too early to say whether this was the start of a longer-term reduction in the rate of inflation. It also notes that the slowing rate of growth was offset partially by higher tobacco prices, reflecting the duty increases that came into effect following the budget, as well as a rise in petrol and diesel prices.

    The Bank of England has said it thinks inflation peaked at the end of 2017 and will fall back to its target of two percent in 2018.

    Although the Bank may still look to raise interest rates from 0.5 percent, pushing the cost of borrowing to levels unseen since before the financial crisis, economists said there were still difficult patches ahead for the economy, which may be unsettled by the Brexit negotiations.

    In November, the Bank's Monetary Policy Committee (MPC) raised its key interest rate for the first time in more than a decade from 0.25 percent to 0.5 percent.

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    Australia Jobless Rate Climbs To 5.5% In December



    The unemployment rate in Australia came in at a seasonally adjusted 5.5 percent in December, the Australian Bureau of Statistics said on Thursday.

    That was above forecasts for 5.4 percent, which would have been unchanged from November.

    The Australian economy added 34,700 jobs last month to 12,440,800, beating forecasts for an increase of 15,100 following the upwardly revised 63,600 gain in the previous month (originally 61,600).

    Full-time employment increased 15,100 to 8,518,900 and part-time employment increased 19,500 to 3,921,800.

    Unemployment increased 20,500 to 730,600. The number of unemployed persons looking for full-time work increased 9,900 to 501,800 and the number of unemployed persons only looking for part-time work increased 10,600 to 228,800.

    The participation rate climbed to 65.7 percent, exceeding forecasts for 65.5 percent - which would have been unchanged.

    Monthly hours worked in all jobs decreased 4.2 million hours (0.2 percent) to 1,736.4 million hours.

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    ---------- Post added at 05:46 AM ---------- Previous post was at 05:04 AM ----------

    Oil Prices Rally on Disruption Threats in Nigeria, declining U.S. Inventories



    Oil prices edged up on a reported decline in U.S. crude stockpiles and as militant groups in Nigeria threatened to launch an assault on the nation's petroleum infrastructure.

    But prices continued to be below the three-year highs as fuel stockpiles continue to be ample and as refineries reduce operations.

    Brent crude futures stood at $69.56 per barrel, 18 cents or 0.3 percent higher from their last settlement. On Monday, the international benchmark hit their highest level since December-2015 high of $70.37 per barrel.

    U.S. WTI crude futures traded at $64.25 per barrel, 28 cents or 0.4 percent higher from their last close. WTI hit their highest level since December, 2014 at $64.89 per barrel.

    According to traders, prices have been lifted by reports that Nigeria's rebel group Niger Delta Avengers threaten to attack the nation's oil sector in the next few days.

    Markets also received support from a decline in crude inventories. U.s. crude inventories declined by 5.1 million barrels in the latest week to 411.5 million, according to API.

    Despite the overall upbeat sentiment in the markets, analysts warned that the recent rally, which has raised crude by around 14 percent since early December, may be on the verge of a correction.

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    ---------- Post added 01-19-2018 at 05:45 AM ---------- Previous post was 01-18-2018 at 05:46 AM ----------

    U.S. Inflation Expectations Jumps to Highest Level Since 2014



    A significant market measure of inflation expectations has increased to its strongest level since 2014, as investors' deliver solid demand to purchase protection against the threat of rising interest rates and dropping bond prices.

    The 10-year break-even rate, a market measure of inflation expectations derived from Treasury Inflation Protected Securities, has increased to 2.09 percent, it's highest level since September 2014 when oil prices were collapsing. The impact of oil prices on break-evens is strong, with analysts attributing at least part of the recent rise in inflation expectations to rising oil prices.

    At a $13 billion auction of TIPS on Thursday, primary dealers — responsible for bidding on a pro rata share of the auction to ensure the sale of the debt — walked away with a smaller than average share of the securities, as other investors came in aggressively to buy.

    The 10-year Treasury yield has increased 20 basis points so far this year to 2.6 percent on Thursday, closing in on its 2017 high of 2.63 percent.

    The strong demand for TIPS showed a growing belief that price pressure is building from improving global demand and pushing domestic inflation to the Federal Reserve's 2 percent target.

    Improving business activity around the world has supported oil and other commodity prices, reinforcing the view of rising inflation, analysts said.

    The ratio of bids to the amount of 10-year TIPS offered was 2.69, which was the highest reading since May 2014.

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