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ADP Non-Farm Employment and Quarterly Final GDP data released on Wednesday were rather negative for the US economy, adding more pressure to the dollar. US treasury yields also declined on Wednesday, with the 10-year treasury yields falling to approximately 2.3%, from a two-year high of 2.5% the day before.
In the past week, the dollar had gained strength, boosted by hawkish Fed rhetoric. In a recent speech, Fed Chair Jerome Powell hinted that the Fed may perform a steeper rate hike in the future, going above the expected 25 base points. Other Fed members have similarly shown signs of encouraging a more hawkish fiscal policy, increasing the odds of a 50 bp rate hike at the Central Bank’s next meeting in May. Markets are anticipating total rate hikes of 175 base points within the year to tackle soaring inflation rates.
The dollar had dropped in the wake of the Federal Reserve's latest policy meeting in March, in which the Federal Reserve raised its benchmark interest rate by 25 base points, bringing its interest rate to 0.50%. The US Central bank is attempting to bring down inflation that has been rising at the fastest rate in 40 years. The 25-base point rate hike though was considered conservative and had already been priced in by markets. Recent statements by FOMC members though show a shift towards a more aggressively hawkish policy.
Monthly Core PCE Price Index, Unemployment Claims, Annual Challenger Job Cuts, and Chicago PMI are scheduled to be released on Thursday for the dollar and may cause some volatility in the currency. In addition, FOMC Member Williams is due to deliver a speech, which may affect the currency, as Fed rhetoric in the past few days was one of the main factors that have been driving the dollar up.
The EUR/USD rate climbed above 1.116 on Wednesday, breaking through the 1.113 level resistance, as peace talks sparked hopes of a resolution of the crisis in Ukraine. The safe-haven dollar retreated, while the Euro regained some of its lost ground. If the currency pair goes up, it may encounter resistance at 1.148, while if it declines, support may be found at the 1.080 level.
On Wednesday, consumer sentiment and inflation data released for the Eurozone were mostly negative for the EU economy, putting pressure on the Euro. Reports of de-escalation of the crisis in Ukraine reduced the appeal of safe-haven currencies and boosted riskier assets.
In addition, ECB President Lagarde delivered a speech at an event hosted by the Bank of Cyprus on Wednesday. Lagarde stated in her speech that the growth of the Eurozone economy has been stalled by the war in Ukraine and that inflation will likely rise even further. Lagarde has also stressed that the ECB needs to remain flexible and may alter its monetary policy in response to unforeseen inflationary and economic pressures arising from the war in Ukraine, but stated that the ECB will move gradually towards normalizing its fiscal policy. The ECB is trying to avert a dangerous economic effect known as stagflation, the mix of economic stagnation and high inflation rates.
The ECB has been pursuing a more cautious fiscal policy than other major Central Banks, although it has recently turned towards a more hawkish direction. The ECB has announced its decision to wind down its bond-purchasing program sooner than expected, placing the end of the bond-buying program in the third quarter of 2022, if financial conditions in the Eurozone allow it.
In addition, the European Central Bank has announced that it does not plan to raise its benchmark interest rate before the end of its bond-buying program in the third quarter of 2022. Many market analysts predict that the ECB will raise its interest rate by at least 30 base points in Q4 of 2022 and some predict a steeper rate hike of 50 bps, although so far, the ECB has been reluctant to move towards a rate hike. As the Fed and the BOE have already raised their benchmark interest rates, the Euro remains at a disadvantage from the difference in interest rates.
On Thursday, several indicators are scheduled to be released for the Euro, including French Consumer Spending, French Preliminary CPI, German Unemployment Change, Italian Monthly Unemployment Rate, Italian Prelim CPI, EU Unemployment Rate. These are employment and inflation indicators for some of the Eurozone’s leading economies and the Eurozone as a whole and may affect the currency.
Following the freezing of its operations and client withdrawals amid the arrest of several members of its senior management, offshore Retail FX broker Samtrade FX has issued a statement (see full text below) noting that it has filed for its corporate and operating entities to be placed in "judicial management" - the Singapore equivalent of administration.To get more news about intrgroup, you can visit wikifx.com official website.
The "interim judicial managers" for Samtrade FX will be former PwC partner Goh Thien Phong and his GTP Advisory PAC, which specializes in corporate restructuring and insolvency, and Chan Kheng Tek from PwC Singapore.
From our perspective, the application means that Samtrade FX's management (at least the ones who aren't currently incarcerated) believe that the company's problems with the Singapore regulator and police are not likely to be resolved in the near term, requiring outside managers for the company.
It also means that client assets at Samtrade FX are not likely to be unfrozen any time soon. The judicial managers are there to find and secure client assets, match them against what is supposed to be there based on company records and client claims, and then (eventually) return money to Samtrade FX's clients.
No mention was made of Samtrade FX's ASIC licensed operations in Australia, Samtrade (Australia) Pty Ltd, which as far as we can tell remain intact.Samtrade FX was raided in late December, following a joint investigation by the Monetary Authority of Singapore (MAS) and the Singapore Police Force. Three of the company's management team were arrested, including (we believe) the company's CEO and controlling shareholder, Sam Goh.
The action was taken as Samtrade FX was operating out of Singapore without holding a financial services license in the country. The authorities also noted that there is reason to suspect that irregular trading activities have been carried out on the platform.
FILING OF COURT APPLICATION FOR JUDICIAL MANAGEMENT AND APPOINTMENT OF INTERIM JUDICIAL MANAGERS
1. Reference is made to our corporate statement dated 3 January 2022.
2. Our counsel, Messrs Rajah & Tann Singapore LLP, have proceeded to file court applications with the High Court of Singapore on behalf of the following entities to place them into judicial management on 20 January 2022:and to appoint Mr Goh Thien Phong from GTP Advisory PAC and Mr Chan Kheng Tek from PricewaterhouseCoopers Advisory Services Pte Ltd jointly and severally as interim judicial managers.
3. We will provide further updates after the Court has fixed a hearing date for the respective applications.
4. Further updates on material developments will also be provided, as and when appropriate.
Although earlier versions of MetaTrader date back to 2002, the ever so popular MetaTrader4, or as it is often called MT4 was released in 2005 and has been updated numerous times since then. The first MetaTrader5 or MT5 was launched in 2010 and has been operating in parallel with MT4. However, trader loyalty towards MT4 remains solid and the large majority of brokers around the world offer it to their customers.
A 2020 survey identifies MT4 as the most popular trading platform in the world, with a staggering 57% of survey respondents stating that it was their platform of choice. Unsurprisingly the second most popular trading platform is MT5.So, what makes the two MetaTrader iterations so popular? And what are the differences between the two?
The short answer is that the MetaTrader platforms are easy and simple to use. We have all tried to use tools that feel more overwhelming than helpful or useful which leads to frustration and seeking other options. The MetaTrader platforms provide an unparalleled user experience along with a sleek and professional interface that enables traders to conduct their activities effectively. Furthermore, the platforms are known for their unfaltering reliability which is an essential feature in a sector that revolves around financially valuable transactions.
A crucial feature that made MT4 very popular is the availability of the Expert Advisors (EAs) programs that enable traders to customize monitoring and trading parameters according to their trading goals. This is coupled with the fact that MT4 has three execution modes (Instant Execution, Execution on Request, and Execution by Market) which give traders the ability to act swiftly or in a staggered manner to accomplish their objectives.
We must not forget that MT4 is available free of charge, in multiple languages, and fully functional on multiple devices with different operating systems.
At this point, you might be asking what distinguishes MT4 from MT5 and which option would be the best for your trading needs. Both platforms provide state-of-the-art trading experiences, however, there are a few differences. For instance, a number of markets that are available on MT5 are not available on MT4. This could be a benefit to more experienced traders seeking to trade across very specific markets. MT5 also provides more chart timeframes and indicators which are very useful for those traders seeking more in-depth market analysis. The MT5 also offers a built-in economic calendar to help traders stay on track with key events. It must also be said that MT4 uses a simpler programming language (MQL4) that traders can use to create custom EAs and indicators which might make it more accessible to more inexperienced traders. On the other hand, MT5 gives a higher level of flexibility for traders seeking to create more sophisticated commands.
So ultimately, your choice between the two will depend on the trading objectives that you are setting out for yourself and at which point of your trading trajectory you are on.
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It's the beginning of a new month which means that the Non-Farm Payroll figures will be released this week by the US Bureau of Labor Statistics. The latest US jobs data for January will be released at 1:30pm London time on Friday.To get more news about tiomarket review, you can visit wikifx.com official website.
Why is the announcement important?
Non-Farm Payroll is one of the most closely watched indicators. It is considered the most wide-ranging measure of job creation in the United States. An increase in the non-farm payrolls would suggest rising employment and potential inflation pressure - which would mean a possible rate increase by the Federal Reserve. A decline would indicate a slowing economy - which would mean a possible interest rate cut. The measure accounts for around 80% of the workers who contribute to the Gross Domestic Product. It does not include those who work on farms and also excludes private households, non-profit workers, and government employees.
Expectations
In February, the total Non-Farm payroll employment increased by 678k, above analyst forecast of 400k. The unemployment rate decreased by 0.2% to 3.8%. Most significant job gains were in leisure and hospitality, professional and business services, health care, and construction.
Analysts are expecting 490k jobs added in March. The unemployment rate is expected to decrease by 0.1% to 3.7%.
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The USD/JPY retreated on Wednesday from Monday’s highs of 125.1, its highest level since 2015, falling to the 121.3 level. If the USD/JPY rises again, resistance may be found at the 2015 high of 125.8. If the USD/JPY declines, support might be found at 114.8 and further down at 113.4.
The dollar lost ground in the past couple of days, as reports of a potential de-escalation of the Russia – Ukraine crisis have put pressure on the safe-haven dollar. The yen is also considered a safe-haven currency but has not been affected as much as other safe-haven assets by the crisis in Ukraine, and many investors have been doubting its safe-haven status.
In the past few months, the Yen has been affected primarily by the BOJ’s fiscal policy. In its latest monetary policy meeting in March, the Bank of Japan maintained its ultra-accommodating monetary policy and did not raise its negative interest rate from -0.10%. The difference in interest rates with other major Central Banks, especially with the Fed and the BOE, puts the Yen at a disadvantage driving its price down.
The BOJ Summary of Opinions was published on Tuesday, which includes the Central Bank’s projection for inflation and economic growth and is the primary tool the BOJ uses to communicate its economic and monetary projections to investors. In the report, Japanese policymakers stated that inflationary pressures are building in Japan, with inflation growing to 1%, which is still far from the BOJ’s 2% target. Bank of Japan board members seemed skeptical about the rise in inflation though, expressing doubts on whether the rise was sustainable. They stated that the rise in inflation rates would likely prove to be temporary, and was mainly due to the rising cost of imports, especially energy-related imports. Policymakers concluded that the BOJ must continue its ultra-accommodating fiscal policy, to support the economy.
Japan’s core CPI may climb around 2% in April, similar to other countries that are expected to see a peak in inflation rates near the same time, largely due to increased oil prices. Japan is a net energy importer and the current energy crisis is damaging the country’s terms of trade and overall economic health. The rising cost of oil is causing goods prices to rise in Japan, with oil imports accounting for 80% of the country’s oil consumption.
The BOJ stated on Monday that it would buy an unlimited amount of Japanese Government Bonds with a maturity of up to ten years at 0.25% to stop rising global yields from pulling yields higher. Near the end of last week, Japan’s treasury yields rose sharply, with yields on 10-year Japanese government bonds climbing to a six-year high of 0.24%. Japanese bond yields had been on the decline for some time, and rising U.S. yields had taken the spread between the two markets to its widest since August 2019.
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I include Target 1 (T1) and Target 2 (T2) levels (or ranges) in my analysis so that you have an idea of how far the market would probably move if price action supports my trade ideas. The target one is a high probability target while the next target is further away and therefore there’s a greater risk that the market doesn’t reach the level. While I don’t provide investment advice my analysis helps you in your own market analysis and then you can decide how to trade the markets.
GBPUSD is creating higher lows and could continue to do so as long as it stays above the 1.3110 support level. My trade idea is to look for long trades above the 1.3110 low with the T1 at 1.3134 and T2 at 1.3240. As usual price action has to confirm the trade idea. If it doesn’t, it’s better to stay in cash. Alternative scenario: GBPUSD breaks the 1.3110 support and trades down to 1.3040 – 1.3060 area.
GBPNZD is consolidating above a 1.9046 support. This opens up a possibility for an intraday rally and this is why I’m interested in long trades in this market today. Above the 1.9046 my T1 for GBPNZD is at 1.9185 and the T2 at 1.9360. Alternative scenario: GBPNZD breaks below the latest low at 1.9021 which increases the likelihood of the market moving down to 1.8972.
CADJPY is still trending higher. I said on Friday that if the resistance at the latest high is successfully cleared then the market could rally to 95.00 – 95.50. The market is now trading well above that high and trending higher so the analysis is still valid. Fundamentals haven’t changed either. Alternative scenario: CADJPY doesn’t respect the supports and breaks the 94.53 support. This would probably take the market down to 94.10 or so again.
USOIL hit my targets and continued higher. Oil is trading right at the resistance level of 107.52 and the nearest key support level is at 104.49. A decisive break above the 107.52 could open a way to 111.82. Alternative scenario: Oil starts to sell off and breaks the bull channel low. This would probably take the market to 100 or so.
Macro Drivers for the USD As the most followed, invested and traded markets for risky assets are priced in the USD it is helpful to understand what macroeconomic factors impact the other side of the equation, the USD. Whether we are trading EURUSD, XAUUSD or US equity CFDs the factors impacting the dollar, the nominator in the equation, have a significant role in the formation of all medium to long-term price action. The following table summarises the most important fundamentals.
Done? If you didn't put Irondale, Alabama, at the top of the list, you're forgiven-it's a little off the beaten path. But despite being secreted away in a quiet suburb of Birmingham, Grant Trick's workshop has become a go-to source for designers all over the country. They come to him in search of exquisite tailoring, good vibes and-in a time when big manufacturers are struggling-reasonable lead times.To get more news about furniture wholesale, you can visit wholesalefurnitureonline.com official website.
"We're the ones maybe reaping the rewards of the terrible situation for the larger manufacturers, because now our lead time is shorter than theirs," Trick tells host Dennis Scully on the latest episode of The Business of Home Podcast. "Now we have our own frame shop. ... We have a good foam resource. We can live off our supply much longer. Our supply would last a North Carolina factory 30 minutes, and we can go three months. We've learned how to buy very well."
Of course, Trick didn't get into the business to compete with Lee Industries or Baker on lead times; he initially didn't intend to get into the business at all. He started his career in fashion, then designed window displays for Tiffany's. A West Coast trip took the designer to San Francisco, where, in the thick of the recession, he started working for a custom furniture workroom-his entree into the world of interior design.
After relocating to Alabama to be closer to family, Trick started his own operation in 2010 and has been growing it steadily ever since. Originally, he produced anything and everything, but over the years has built a reputation for custom furniture driven by a fabric-first approach. That, and a lively Instagram presence (few custom upholstery workrooms are as likely to break out into spontaneous sing-alongs) have won the designer a dedicated clientele.
In this episode of the podcast, he shares a CliffsNotes course on what to look for in a quality sofa, offers insight on why custom is booming right now and explains what he's learned from the early stages of launching his own collection. He also weighs in on a hot industry topic-the social-media-driven copy shaming instigated by anonymous Instagram account @DesignWithinCopy.
"I think if you asked everybody who does what we do, from the fancy New York workrooms to the good ones out West, I think we've all made a few Kagan sofas. It is what it is. [But] none of us are branding that or putting our name on it or taking credit for the design of it," he says. "I feel like the internet shaming thing is pretty lame. If kids were doing it, it'd be called bullying. ... I challenge the person sitting on a nameless Instagram account to come sit in this office, which is where I draw furniture, and give me seven sofas you've never seen before. Try it."
A new business celebrated its grand opening on Wednesday afternoon in Leland.Custom Home Furniture Outlet opened at 2062 Olde Regent Way near the Harris Teeter.
This is an outlet version of the Custom Home Furniture Galleries in Wilmington. Co-Owners John and Kevin Gray say they were delivering to Brunswick County about five days per week from the Wilmington location and with Leland continuing to grow, they knew it was the perfect place to expand.
"We felt like in this area, they really wanted it. Houses are selling fast, they need to furnish it when they move in so we've given the option to get it today," Kevin Gray said.The outlet is open Monday through Friday 10 am to 7 pm, Saturdays 10 am to 6 pm, and Sundays 1 pm to 5 pm.
Furniture buyers have thousands of products to choose from at Las Vegas Market, the premier cross-category West Coast Market for furniture, gift, and home décor products. Twice a year, furniture buyers gather at our Las Vegas Market Center to source our 4,300+ resources, including fresh introductions and proven bestsellers from wholesale furniture suppliers around the globe.To get more news about customized furniture, you can visit beour.com official website.
Not only is this twice-yearly buying event to-the-trade only, but registration is free! Register today to connect with buyers and sellers, source all your design needs in one trip, and enjoy world-class accommodations, dining, and recreation when you're done.
Our wholesale furniture distributors and manufacturers provide every style, price point, and design aesthetic, creating a signature West Coast furniture only found in Las Vegas. Check out a few of the many types of furniture manufacturer categories you'll find at Market.
Michael Amini is a full-line home furnishings resource. In addition to bedroom, dining, and living room, they also provide lighting, rugs, accent furniture, soft home, and bath to offer a comprehensive home decorative solution for today's retailer.
Charleston Forge (A242)
Charleston Forge is a working forge in Boone, North Carolina - all their products are made in America. The company manufactures dining, beds, occasional furniture, drink tables, benches, bar stools, and mirrors, using only solid maple or oak.
Crestview Collection (A353)
Crestview Collection offers a full line of accent furniture, portable lighting, accessories, and wall decor for today's home. Crestview has grown tremendously over the past few years with one goal in mind: to provide leading-edge designs and quality products at competitive prices paired with the best customer service in the industry.
Diamond Sofa (B746)
Established in 1992, this California-based urban contemporary home furnishings designer and manufacturer infuses a unique stylistic sensibility into each product. Source from their collections of living room, accent chairs, bed, office, and home accents.
Global Views (A153, A154)
Global Views is a home decor wholesale company with collections that blend various styles to make pieces that are elegant, exotic, refined, and casual. Furniture offerings include upholstery and accent pieces.
JLA Home - Olliix (B448)
Olliix, a JLA Home company, is a wholesale platform providing home furnishing solutions that address the lifestyles of today's consumers. Olliix provides direct online access to over 30,000 SKUs ranging from furniture, bedding, bath, window, and decor. We offer no minimum, drop ship capabilities, transparent inventory feed, and optimized freight.
VOLIBEL Smart Lock Opens New Entrance To Smart Home
With the steady development of technology, many home furnishing products have been endowed with strong intelligent attributes. All of our food, clothing and shelter have undergone earth-shaking changes. In terms of "living", the public is very concerned about the safety of the home. As the core entrance to build a smart home, a safe and convenient smart door lock is naturally essential.To get more news about electronic safe lock, you can visit securamsys.com official website.
VOLIBEL X3 smart door lock can meet all your expectations for an excellent smart door lock! For the time being, let's not talk about others. Who can stand up to this super high value? This smart door lock adopts two colors of black and silver in appearance. The simple color matching makes the entire lock body look stable without losing the metal texture. No matter if your home is Chinese, Western or modern decoration style can be perfectly matched.
Functionally, TCL KP-10 smart door lock supports up to 6 unlocking methods: fingerprint, password, card, key, remote authorized door opening and one-time password opening. Diversified unlocking methods allow you to enter your home and rest smoothly, whether you forget to bring your keys or when you have relatives and friends who are suddenly visiting at home. Avoid the embarrassing situation of being locked out of the door.
Many friends always worry about the insensitivity of fingerprint recognition when purchasing smart locks. But TCL KP-10 smart door lock does not have such troubles. The TCL KP-10 smart lock is equipped with an industry-leading oversized fingerprint recognition area, with a fingerprint coverage density of 36864, far exceeding the industry standard by 1.4 times. Fingerprint recognition is more accurate, and the more useful the better. Quickly identify the unlocking speed in 0.3 seconds, providing users with a smooth unlocking experience with just one click.
In terms of security, VOLIBEL smart door locks can fully act as an excellent "guardian god" of the family. X3 is different from the conventional lock body, and the lock body has a new tongue safety sensor. When the door is not closed, it will sound a local alarm. At the same time, it can cooperate with APP- "Tinylock" to send security warning information to the owner to remind. If there is an elderly person with amnesia and a child with weak safety awareness. This security function is very practical.
Of course, the VOLIBEL smart door lock is also perfect in other security functions. For example, when the password or other unlocking methods are wrong for more than 5 consecutive times, the smart lock will be locked for 3 minutes. Identification is prohibited. In addition, there is an anti-prying lock alarm function, that is, when the smart lock body is unlocked by an abnormal method such as prying lock, it will quickly send an alarm message to the user's mobile phone. Allow users to take some security precautions in a timely manner.
There is a saying that technology changes life. I think installing a smart door lock at home is the beginning of our life change. After using the VOLIBEL smart door lock, you no longer need to bring your keys when you go out, and you don't have to worry about losing the keys. At the same time, it also brings a sense of security to your family, making the home really a warm and relaxing place.