Top 4 Forex anniversary trades for July

July relapse of anniversary trends:

Yesterday we published 4 tip anniversary forex trades for July. It’s a plain month for seasonals and there are a few trends value gripping an eye on.

#4 Eurovision

#3 Slick and slippery

#2 Sterling seasonals

#1 Yen for a win

Here is also a seasonal scorecard for June

Some reward anniversary notes:

  • July is a third best month for bullion over a past 30 years
  • July is a third best month for bonds given 2005 though over a longer tenure it’s an normal month
  • July is a second best month for AUD given 2005 though it’s declined in a past dual uninterrupted years though an normal of 1.6%
  • USD/CAD has declined in 5 of a past 6 Julys though over a past 30 years it’s an normal month.
  • Last Jul ran intensely counter-seasonal, right opposite a board

Weekly Economic Political Timeline Jul 5 2015

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CBN Vows Not To Devalue Naira

The Central Bank of Nigeria, CBN, has suggested that it will no longer amalgamate a Naira.

According to a peak bank, a thought not to amalgamate a Naira was borne out of a need to guarantee a Nigerian economy from a shocks and disastrous impact a debasement will have on a economy.

In a matter sealed by a Director, Corporate Communications, Mr. Ibrahim Mu’azu, a peak bank settled that it will not panic and take unfortunate measures to prove few misled interests in a market.

Mu’azu, who was reacting to an essay in a Economist Magazine, pronounced a essay seemed to omit a fact that a sell rate is simply a cost that is radically dynamic by a army of supply and demand, adding that a CBN believes that a 48 per cent decrease in oil prices might not be short-lived and done confidant process changes including closure of a subsidized Official Foreign Exchange (Forex) Window, that resulted in a 22 per cent debasement in a currency, a Naira.

“Because a Nigerian economy is heavily contingent on imports and a sell rate pass-through to acceleration is high, we trust that this composition is optimal during this time.

“Contrary to a article’s argument, adjustments to a pointy decrease in supply of US Dollars can't all be borne by an indistinct depreciation, though deliberation a full impact on a Nigerian economy.

“The direct side also has to be considered, not only in response to a vigour on a Naira though as an event to change a economy’s structure, cure internal manufacturing, and enhance pursuit origination for a citizens.

“Take rice imports, for example: because should we keep allocating wanting forex to rice importers when immeasurable amounts of paddy rice of allied peculiarity constructed by bad overworked internal farmers opposite a rice belts of Nigeria are wasted, and farmers are descending deeper into misery while we trade their jobs and income to rice producing countries?” The matter read,

Greek Referendum and what it means – Deutsche Bank & Credit Agricole

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Greeks will go to a polls and confirm on either or not to accept a creditors’ proposal. Some see it as a opinion on a euro or on a drachma and it’s transparent that it will impact a political career of a stream government.

Here are dual angles on a story, from Deutsche Bank and Credit Agricole:

Here is their view, pleasantness of eFXnews:

From Deutsche Bank:

Sunday’s Greek referendum appears too tighten to call though irrespective of a outcome there is doubtful to be an evident fortitude to a predicament a subsequent day, says Deutsche Bank.

A “yes” vote would be significantly some-more expected to lead to a quicker agreement with a creditors, though not though risks,” DB argues.

A “no” vote would open a wider operation of possibilities. This notwithstanding, any agreement would expected need change that leads to a re-building of trust between Greece and a creditors,” DB adds.

Ultimately, a continued clever vigour on a Greek economy and a government’s diseased money position will sojourn critical catalysts for destiny developments, irrespective of this weekend’s referendum,” DB projects.


From Credit Agricole:

The Greek referendum will be a binary event. 

A ‘yes’ vote should boost risk ardour and give investors some-more certainty that a Fed will travel rates after this year. This is a executive unfolding and we design USD to be among a categorical beneficiaries underneath this outcome. Any service convene in EUR should be ephemeral with renewed waste expected before long, generally opposite USD. We say a prolonged USD/CHF position in a portfolio.

A ‘no’ opinion will be a risk-negative outcome that will fuel Grexit fears. EUR should fall, generally opposite a majors, while European G10 currencies should underperform a rest. European risk-correlated currencies (eg, NOK and SEK) could be among a hardest strike in a arise of a ‘no’ vote, while European protected breakwater currencies like CHF and, to a degree, GBP should underperform their non-European counterparts USD and JPY. Market prominence will indeed wear significantly, however, given that it could take months before we know a ultimate predestine of Greece. To a border that this keeps a hopes of a understanding alive markets might even lapse to their ‘holding pattern’ after a initial pointy selloff.

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About

Yohay Elam – Founder, Writer and Editor

I have been into forex trading for over 5 years, and we share a believe that we have and a believe that I’ve accumulated. After holding a brief march about forex. Like many forex traders, I’ve warranted a poignant share of my believe a tough way. Macroeconomics, a impact of news on a ever-moving currency markets and trading psychology have always preoccupied me.

Before first Forex Crunch, I’ve worked as a programmer in several hi-tech companies. we have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex program has a comparatively bigger share in a posts.

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Is a Greek referendum even legally binding?

I can’t contend I’ve listened or seen too most on this though a BBC are carrying a story that says Greece’s tip court, a Council of State is due to make a statute on a legality of Sunday’s vote

The tellurian rights body, Council of Europe, has already pronounced a referendum would “fall brief of general standards” citing a brief notice duration and miss of clarity in a doubt to be put to voters.

Adam posted this on 29 June display a breeze of a list paper that during best is confusing/rigged/biased if not bootleg per se

The BBC runs this story as a follow adult to one also run previously here

If anyone out there in ForexLive land has any serve info re a Council of State meeting please let us know

In a meantime I’m streamer out into a UK sunshine. We’ll post some updates over a weekend and be on stand-by when a initial referendum formula strike a wires around 18.00 GMT on Sunday

Thanks for your support as always and we wish we’ve helped drive we by this latest crazy box of frogs

And remember,