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FX AUTOPIPS - New Forex robot on ForexStore

FX AUTOPIPS - New Forex robot on ForexStore

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Erik Holm - Head of media

ForexStore has got amazing news for traders: brand new unique Forex robot is out now as a special offer for our customers. The EA we are glad to represent in our store named FXAUTOPIPS is available to everyone for $255.

This is a good tool to generate a stable profit on the Forex market by intraday trading. The FXAUTOPIPS is available on the USDCAD currency pair only. It does not use martingale nor scalping in its trading. This EA's trading style looks a bit similar to a scalper but FXAUTOPIPS definitely is not a scalper. The robot on average earns about 14 pips by trade instead of 2-4 pips If using scalping. The offer includes a 1-lifetime license, user manual, free updates, 24/7 friendly support.

Great wins come with great tools. Don’t miss your opportunity to get the best Forex robots for your trading and enjoy the power of automated trading!

The dollar is in the red due to Trump's disappointing virus plan

The dollar is in the red due to Trump's disappointing virus plan

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Erik Holm - Head of media

The dollar fell on Tuesday amid expectations of a sharp rate cut by the Federal Reserve after US President Donald Trump’s plan, which had disappointed the markets, aimed at containing the outbreak of coronavirus.

Trump on Wednesday announced a 30-day ban on entering the US from Europe, responding to calls for action to curb the rapidly spreading coronavirus epidemic. The dollar lost 0.7% against the yen to 103.80 and fell by 0.2% against the euro to $1.13 against 7:00 London time.

Australia announced Wednesday a$11.4 billion stimulus package that includes wage subsidies and cash payments to small businesses. Nevertheless, the Australian dollar continued to decline due to growing concerns about the recession.

Investors are waiting for the outcome of the meeting of the European Central Bank on Thursday to understand how aggressive the new regulatory measures will be.

 

Euro and the dollar jumped by 5% at the opening of trading

Euro and the dollar jumped by 5% at the opening of trading

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Erik Holm - Head of media

On Tuesday, March 10, at the opening of trading on the Moscow Exchange, the euro and the dollar rose sharply. At 10:15 Moscow time, the euro grew by 5.36% to 81.7 rubles, the dollar rose by 4.85% to 71.89 rubles. The Moscow Stock Exchange index fell by 16% at the start of trading, the RTS index fell by 16%.

At the same time, oil is getting more expensive. The Brent and WTI brands rose by 5.73% and 5.63%. On the eve of the price of Brent crude oil fell by 30%. This is the worst short-term fall since 1991 when the United States launched the very first operation against Iraq called the desert Storm.

The reason for such a catastrophic fall is the collapse of Russia’s deal with OPEC + and the subsequent decision of Saudi Arabia to increase raw material production and lower prices. Earlier, the Bank of Russia announced the suspension of currency purchases on the open market for 30 days.

The Ministry of Finance said that it intends to sell currency from the NWF in the market. These measures can mitigate the reaction of the ruble to the recent drop in oil prices. Note that today the Moscow Exchange has named the upper limit of the possible dollar exchange rate at the level of 75.2125 rubles and the euro at the level of 85.785 rubles.

The fall of the ruble and stocks became one of the strongest in history

The fall of the ruble and stocks became one of the strongest in history

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Jim Anderson - Public Relations

The Russian currency lost about 5% on the first trading day after a long weekend. By Tuesday evening, the dollar was worth 71.8 rubles, which is 3.27 ruble higher than Friday's close. The euro. Was trading at 81.4 rubles (+3.9 ruble). The stock market opened with a drop in the Moscow Exchange and RTS indices by 7.9% and 8.6%, they closed with a fall of 8.1% and 13%.

According to the Moscow Exchange, stock trading on Tuesday reached 257.3 billion rubles. This is almost three times higher than the average daily turnover since the beginning of the year (91 billion rubles) and five times more than the average turnover last year (46 billion rubles). 

So the market won back the collapse of the OPEC+ oil production reduction deal. Due to which on Monday, March 9, the price of Brent oil fell by 330% and reached $31 per barrel at the bottom. This is the most significant daily drop since 1991. On Monday at Forex, the ruble fell to the dollar by 8.8% to 74.5 rubles. To the euro – 9.7% up to 85 rubles. Russian companies traded in London lost up to a third capitalization.

The yen jumped to a six-month high

The yen jumped to a six-month high

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Jim Anderson - Public Relations

During today’s Asian trading, the yen against the US dollar reached its highest level over the past six months, while the yield on 10-year US government bonds updated its historic low.

Investors prefer to transfer funds to safe assets, which traditionally include government securities and the Japanese national currency amid uncertainty regarding the development of the situation with coronavirus and its impact on the global economy, experts say.

The Japanese national currency rises in price relative to all 10 major world currencies. The yield on ten-year US Treasuries fell to 0.83%.

Goldman Sachs analysts believe that in the event of global panic in the markets due to COVID-19, the dollar could drop to 95 yen – the level that was last recorded in 2013. According to them, the Japanese currency remains “one of the few classic assets of the safe haven, which remains underestimated”, Bloomberg reports.

The value of the single European currency is paired with the Japanese national currency at the same time amounted to 118.92 yen, compared with 119.30 yen on Thursday. So dollar to 9:06 Moscow time gave 105.84 yen against 106.16 yen.