Breaking New! Canada Bans Binary Options! In breaking news I have just learned that Canada has made it official. Binary options are illegal in the country. The move comes after years of attack from outside sources using binary options to commit fraud against Canadians. If you have been following the issue you are well aware […]
It’s Official, China Bans Bitcoin In news leaked early today China has made it official, Bitcoin is banned within China. According to Coindesk documents and statements from exchange officials there has been a verbal instruction to cease operations by September 15th, effecting and immediate shut down. The reason, these exchanges are operating foreign exchange businesses […]
There’s Growth But It’s Only Growing So Fast The August read on the non farm payrolls data was positive, supports the idea of economic growth, shows a steady 2.5% YOY increase in wages but nonetheless did not impress the market. And that is a good thing in some ways. If the number had been too […]
Another Leg Higher For Crypto Currency With all the uncertainty in the world it is not wonder that more and more people are turning to cryptocurrency. Over the last week news has hit the market telling of Argentine Bitcoin miners using the digital token to avoid hyper-inflation, businesses around the globe flocking to blockchains on […]
FinanceMagnates Tracks Massive Decline In Binary Options Activity FinanceMagnates working in conjunction with CPattern has developed a tracking tool for the binary options industry that is quite telling. Referred to as the FTD or First Time Deposit benchmark this tool tracks not only the number of depositors but the amount and averages. According to them […]
Dollar Index Surges From 18 Month Low The Non Farm Payrolls data was stronger than expected but not all that strong. It came in at 209,000 with positive revision to previous months and right in the markets sweet spot. The number at once reaffirms current economic outlook and relieves the market of some near term […]
Near Term Weakens But . . . The US dollar weakened Friday morning after the release of US 2nd quarter GDP data. The data was strong at 2.6% but only as-expected and there was a downward revision to the previous month which seemed to accelerate the near term down trend. By mid morning the tables […]
There was a small market rally last week – looking ahead, investors will be keenly watching these upcoming data releases. They are expected to have an impact on the CAD, Euro and US dollar pairs. Tuesday 25th July German IFO Business Climate Index. (08:00 GMT) The German business confidence index reflects the current sentiment among business leaders. Produced by […]
Citrades Shut Down By The CFTC The CFTC revealed charges against Jason B. Scharf this week. The alleged charges include his operation of multiple fraudulent binary options brokerages and working in collusion with affiliate marketer Michael Shah to scam traders of more than $16 million dollars. The companies include a network of shell and front […]
Correlations Are A Two Edged Sword Currency correlation is a big deal in the forex world. It defines the way in which currency pairs move in relation to each other. On one hand there are pairs which share a currency like EUR/USD and USD/JPY and on the other individual currencies which tend to move in […]