HotForex Blog

EURUSD continues to move higher. G8 Meetings Day 2 on focus of the investors.

HotForex — Tue, 18 Jun 2013 10:52:55 +0000

EURUSD rose yesterday and closed at 1.3382. The Bundesbank stated that German economic recovery may slow down during the summer. The Eurozone Trade Balance rose less than the market expectation coming out at 16.1 billion Euro. The labor costs in the Eurozone rose in the first quarter of 2013. On the other side of the ocean the Empire State Manufacturing Index in the United States rose to 7.8 beating the estimates of 0.4. Investors are now awaiting the FOMC statement scheduled for tomorrow. Support for the EURUSD is seen at 1.3318 and resistance is seen at 1.3394. The HotForex Traders Board shows that 74 percent of the traders are short on the EURUSD.

GBPUSD

The Cable dropped yesterday and closed at 1.5719. The Rightmove House Price Index in the United Kingdom rose for a 6^th month in a row in June. The Consumer Price Index year over year released today came out better than the market expectation recording a 2.7 percent rise. During the European session the pair continues to drop and its currently targeting the 1.5600 area. Support for the GBPUSD is seen at 1.5618 and resistance is seen at 1.5736. The HotForex Traders Board shows that 52 percent of the traders are short on the GBPUSD.

EURUSD trading lower in the European session. G8 Day 1 Meetings on focus.

HotForex — Mon, 17 Jun 2013 10:33:08 +0000

EURUSD dropped on Friday and closed at 1.3341. The employment in the Eurozone continued to drop in the first quarter of 2013. In the United States the Producer Price Index rose 0.5 percent in May. The International Monetary Fund indicated on Friday that the economy in the United States is gradually recovering compared to the same period last year. The IMF cautioned on the possible risks of the Federal Reserve’s “non timely” unwinding of the stimulus program and the collateral effects that such a policy could have on emerging economies. Support for the EURUSD is seen at 1.3297 and resistance is seen at 1.3376. The HotForex Traders Board shows that 69 percent of the traders are short on the EURUSD.

GBPUSD

The Cable dropped on Friday and closed at 1.5698. The Construction Output year over year in the United Kingdom dropped 1.1 percent in April. The Rightmove House Price Index released earlier today came out at 1.2 percent in June. Starting from tomorrow there is series of high impact releases due from the United Kingdom due in the week ahead. Support for the GBPUSD is seen at 1.5618 and resistance is seen at 1.5730. The HotForex Traders Board shows that 62 percent of the traders are short on the GBPUSD.

EURUSD printed new highs yesterday. US Producer Price Index release due today.

HotForex — Fri, 14 Jun 2013 08:09:23 +0000

EURUSD rose yesterday and closed at 1.3374. The Jobless Claims in the United States dropped by 12K to a seasonally adjusted 334K. The Retail Sales rose 0.6 percent month over month in May. The European Central Bank stated in its monthly report stated that the price pressure in the Euro area is likely to remain subdued over the medium term. Yesterday the World Bank in its semiannual Global Economic Prospects report, lowered its global economic growth outlook for 2013, citing more than anticipated recession in Europe and a recent slowdown in some emerging markets. Looking ahead in the session investors are awaiting the Producer Price Index release and the Current Account release from the United States. The HotForex Traders Board shows 68 percent of the traders are short on the EURUSD.

EURUSD bounced near the 1.34 level. US Unemployment Claims on tap today.

HotForex — Thu, 13 Jun 2013 12:22:55 +0000

EURUSD rose yesterday and closed at 1.3335. The Industrial Production in the Eurozone rose 0.4 percent month over month in April. The Consumer Price Index in Germany rose 1.5 percent on an annual basis in May. The single European currency came under pressure after the Italian borrowing costs rose to the highest level since March. The executive board member of ECB Benoit Coeure, stated that the bank’s independence was under strain and that there was no need to change the ECB’s mandate and objectives to cope with the Eurozone crisis. Coeure also added that inflation expectations for the euro zone are anchored at 2 percent. The German constitutional court hearing on ECB’S OMT program concluded yesterday, with decision not expected until after German elections in September. Investors are awaiting the Unemployment Claims release due from the United States. Support for the EURUSD is seen at 1.3265 and resistance is seen at 1.3373. The HotForex Traders Board shows that 69 percent of the traders are short on the EURUSD.

EURUSD trading below the 1.33 mark. ECB defended its bond-buying program in Germany yesterday.

HotForex — Wed, 12 Jun 2013 13:17:24 +0000

EURUSD rose yesterday and closed at 1.3313. The European Central Bank defended its bond-buying program yesterday in a German courtroom. According to the ECB the program was saving the Euro from collapse and was not generating unlimited risks. Investors are now awaiting the decision by the German constitutional court over the legality of the ECB’s bond-buying program. The Governing Council of ECB Jozef Makuch indicated that the ECB is technically ready on all options on interest rates, including zero or negative interest rates, but for now there is no need of such measures. Support for the EURUSD is seen at 1.3228 and resistance is seen at 1.3319. The HotForex Traders Board shows that 68 percent of the traders are short on the EURUSD.

Tomorrow will be another interesting day for the markets starting with series of releases from New Zealand and Australia. Later on investors are awaiting the Retail Sales data and the Unemployment Claims from the United States.

EURUSD continues to move higher today. German Constitutional Court Ruling Day 1 due today.

HotForex — Tue, 11 Jun 2013 09:54:20 +0000

EURUSD rose yesterday and closed at 1.3255. The ratings agency Standard & Poor’s affirmed the credit outlook for the US Government ‘AA+/A-1+’, and upgraded outlook from ‘Negative’ to ‘Stable’. The President of the Federal Reserve Bank of St. Louis James Bullard that inflation below the 2 percent central bank target may warrant prolonging the “aggressive” use of bond buying to spur growth and bring down unemployment. In the Eurozone the Sentix Investor Confidence Index rose to a reading of -11.6 in June. The Industrial Production month over month in France rose 2.2 percent in April. The Gross Domestic Product in Italy dropped 0.6 percent in the first quarter of 2013. Support for the EURUSD is seen at 1.3183 and resistance is seen at 1.3295. The HotForex Traders Board shows that 57 percent of the traders are short on the EURUSD.

GBPUSD

The Cable rose yesterday and closed at 1.5570. In a release earlier today the Royal Institution of Chartered Surveyors house price balance in UK rose 5 percent in May. Looking ahead in the session we have the Manufacturing Production month over month due from the United Kingdom. Support for the GBPUSD is seen at 1.5454 and resistance is seen at 1.5625. The HotForex Traders Board shows that 61 percent of the traders are short on the GBPUSD.

HotForex Launches its Website and Client Portal for Mobile Users

HotForex — Mon, 10 Jun 2013 13:14:08 +0000

Following closely after the staggering announcement of four industry awards for the year of 2013 HotForex shows no signs of slowing down as it launches an all new purpose built mobile site m.hotforex.com.

As the trend of users turning more and more to using mobile devices and tablets for performing rudimentary tasks and internet browsing continues, HotForex has now come full circle with a complete range of mobile solutions available for all types of investors. Starting with the launch of dedicated mobile trading platform applications from as far back as June of 2011, HotForex then proceeded to make multiple behind the scenes changes to the core of its existing website, ensuring that it retained full functionality with a responsive look and feel on the massive array of mobile devices and tablets available in today’s marketplace.

Analytics have demonstrated an increasing number of website visits are being made through the use of mobile devices and tablets, so in a bid to ensure a rich online experience with powerful content delivery, HotForex has responded by developing an entirely new mobile site that is globally available for access from today.

The dedicated mobile site is accessible directly with the address m.hotforex.com or as an automatic redirection from www.hotforex.com when viewed from a mobile device, and has been optimized for viewing on the latest high resolution mobile device displays and has been engineered to operate flawlessly on widely adopted touch-screens.
Built on a foundation of the latest mobile technology, the HotForex mobile site contains all the information, features, and functions that users might conceivably wish to access whilst on the go, making it a very powerful tool particularly for users who do not have constant access to traditional desktop or portable personal computers.

HotForex clientele instantly have mobile access to fundamental mobile trading features which include; the account overview function, opening accounts on the move, immediate deposit and withdrawal features and internal transferring of money between accounts. These new features show that HotForex is continually trying to identify new opportunities in which to make the trading environment of clients a better one.
With its unique blend of trading conditions, products and services, HotForex is proving yet again to be a compelling and dynamic force in the online trading sector.

About HotForex:
Since being founded in 2010, the HotForex brand has been accredited with multiple industry awards and has proven to be an industry leader by offering of Forex & CFDs brokerage services, innovative products, and standout trading conditions. More information on HotForex is available through their website www.hotforex.com.

EURUSD dropped on Friday on speculations that FED might stop its monetary stimulus sooner than expected.

HotForex — Mon, 10 Jun 2013 09:02:02 +0000

EURUSD dropped on Friday and closed at 1.3218. The US dollar strengthened after the employment growth in May was higher than the market expectation. The Non-Farm Payrolls in the United States increased by 175K jobs in May. Speculations that FED may stop its monetary stimulus sooner than expected also helped the dollar. In the Eurozone the Industrial Production rose 1.8 percent in April. The Trade Deficit in Germany widened to 17.7 billion Euro in April. Looking ahead in the week we have the German Constitutional Court Ruling due on Tuesday and Wednesday. Support for the EURUSD is seen at 1.3131 and resistance is seen at 1.3270. The HotForex Traders Board shows that 66 percent of the traders are short on the EURUSD.

GBPUSD

The Cable dropped on Friday and closed at 1.5556. The Dollar advanced against the Sterling after positive employment data from the United States. The consumer inflation expectations in the UK for the coming year remained at 3.6 percent in May. Support for the GBPUSD is seen at 1.5454 and resistance is seen at 1.5625. The HotForex Traders Board shows that 54 percent of the traders are short on the GBPUSD.

EURUSD rose after comments from Mario Draghi yesterday. US Non-Farm Payrolls on tap.

HotForex — Fri, 07 Jun 2013 08:34:30 +0000

EURUSD rose yesterday and closed at 1.3245. The President of the European Central Bank Mario Draghi stated that negative interest rates from ECB are not in the cards for now. Market reacted to his comments and the EURUSD broke the 1.32 level. Draghi also added that the economy in the European Union would show an improvement at the end of the year. On the other side of the ocean the Initial Jobless Claims in the United States dropped to 346K during the last week. Investors are now awaiting the Non-Farm Payrolls release due from the United States today. Support for the EURUSD is seen at 1.3131 and resistance is seen at 1.3270. The HotForex Traders Board shows that 69 percent of the traders are short on the EURUSD.

GBPUSD

The Cable rose yesterday and closed at 1.5597. The Bank of England announced no changes in the monetary policy. Yesterday the Monetary Policy Committee voted to keep the interest rates unchanged at the record low of 0.50 percent. Bank of England also left its asset purchase program at 375 billion Sterling in line with the market expectations. The UK Halifax House Price Index rose 0.4 percent in May. Support for the GBPUSD is seen at 1.5454 and resistance is seen at 1.5625. The HotForex Traders Board shows that 58 percent of the traders are short on the GBPUSD.

EURUSD trading higher ahead of the ECB Press Conference

HotForex — Thu, 06 Jun 2013 11:03:11 +0000

EURUSD rose yesterday and closed at 1.3090. The Retail Sales month over month in the Eurozone dropped to a reading of -0.5 percent in April. The Final Services PMI rose to a reading of 47.2 in May. On the other side of the ocean the ADP Non-Farm Payrolls in the United States rose less than the market expectation by 135K in May. The ISM Non-Manufacturing PMI rose to 53.7 in May. Investors are now focused on the ECB Minimum Bid Rate decision and the ECB Press Conference. Support for the EURUSD is seen at 1.3041 and resistance is seen at 1.3129. The HotForex Traders Board shows that 72 percent of the traders are short on the EURUSD.

GBPUSD

The Cable rose yesterday and closed at 1.5404. The Services PMI in the United Kingdom rose to a reading of 54.9 in May. Investors are now awaiting the Official Bank Rate and the MPC Rate Statement from the UK due today. Support for the GBPUSD is seen at 1.5333 and resistance is seen at 1.5460. The HotForex Traders Board shows that 63 percent of the traders are short on the GBPUSD.