Author: Editorial Team

ForexPromos Editorial Team is comprised of a selection of hand picked editors that bring you the latest breaking news from the financial markets. We also provide forex educative articles as well as comprehensive fx broker reviews.
July FOMC Meeting – Will it be a non-event?

July FOMC Meeting – Will it be a non-event?

Trading Articles
Summary: FOMC meeting is due on Wednesday, July 26th There will be no press conference after the FOMC statement Fed officials are likely to communicate further on the plans to unwind the balance sheet Markets expecting a less than 10% chance of a rate hike this week Overall odds of a rate hike for the rest of the year stands just around 50% Fed unlikely to change much of its communication The FOMC meeting this Wednesday, July 26th is likely to pass off as a non-event as investors were seen not expecting much from the central bank this week. The fact that there is also no press conference following the FOMC statement potentially lowers the odds of any surprises from this week's meeting. The fact that the Fed funds futures rate hike probability has odds of less than 1...
New Zealand June quarter CPI expected to disappoint

New Zealand June quarter CPI expected to disappoint

Trading Articles
The consumer price index data for the period ending June for New Zealand is expected to released this week. The economists polled are forecasting a 0.2% increase on a quarterly basis. This would signal a sharp slowdown in inflation from the 1% gain in prices registered in the March quarter. The gains in March were led by a spike in food and fuel prices. The RBNZ's forecast for inflation stands at 0.3% for the June quarter, slightly above the consensus estimates. It is no secret that New Zealand's consumer price index is often influenced by temporary factors. On a year over year basis, New Zealand's consumer prices are expected to rise 1.9%, slowing from 2.2% year over year increased in March 2017. Weaker CPI expected due to lower food prices Food prices, which played an importan...
Bank of Canada joins in the Fed in hiking interest rates

Bank of Canada joins in the Fed in hiking interest rates

Trading Articles
Summary: Bank of Canada hikes interest rates by 25 bps as expected BoC becomes the second central bank among G7 nations to join the rate hike club Rate hike is the first in nearly seven years BoC held interest rates steady at 0.50% for nearly 13-months Markets expecting another rate hike before the end of the year The Bank of Canada became the second G7 economy to join the rate hike club, following in the footsteps from the U.S. Federal Reserve. As widely expected, the Canadian central bank hiked interest rates by 25 basis points to bring the short term interest rates to 0.75%. This was the first rate hike in nearly seven years. "Governing Council judges that the current outlook warrants today’s withdrawal of some of the monetary policy stimulus in the economy. Fu
Where will the next European Banking Authority be located?

Where will the next European Banking Authority be located?

Financial Markets Explained
As the UK prepares to leave the EU, there are many questions on how the Brexit will take place. Among a number of things is the question on the future of the European Banking Authority (EBA). This article digs deeper into what the EBA is, why EU member nations are fighting for hosting the EBA. We also look at some of the key EU countries where the EBA is most likely to move, if it moves out of the City of London. The European Banking Authority (EBA) is an independent financial authority for the European Union (EU). The EBA is tasked to contribute to the creation and maintenance of single rulebook in banking in the EU. Established in 2011, the institution specializes in bringing uniformity among all the banking institutions based on the European Union, going in line with the principle...
Worst 10 mistakes of managed forex investors

Worst 10 mistakes of managed forex investors

Trading Articles
We all make mistakes, but ours do not cost as much as these guys’: Toshihide Iguchi As a bond trader for Daiwa Bank’s New York office, Iguchi lost the bank $1.1 billion over 12 years from 1983 and 1995. His trades were consistently making losses, but rather than own up to his mistakes, he sold off the bank’s assets worth $733 million and customers’ securities worth $377 million. These illegal trades were done in an attempt to recover the lost money from his investments. Nick Leeson Working as a trader for Barings Bank since 1989, he initially made good profits, but then his luck turned and he started making losses. Instead of reporting them, he hid the losses, which accumulated to £208 by 1994. The largest losses came in 1995 when the Kobe earthquake hit Japan while he was h