RPT-Starbucks courts millennials with $10 coffee at new Reserve bars

LOS ANGELES/NEW YORK, Dec 6 (Reuters) – Starbucks Corp

co-founder Howard Schultz’s plan to build a new
prestige brand is a bet that moving upscale can raise the
profile of the world’s largest coffee…The post RPT-Starbucks courts millennials with…The post RPT-Starbucks courts millennials with $10 coffee at new Reserve bars appeared first on Forex news – Binary options.
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Bullet Report: Focus turns to ECB QE decision tomorrow

Today will probably continue in yesterday’s quiet mode ahead of the ECB meeting tomorrow. Notably, the markets are pricing in a rate hike in 2018 with an 80% probability. The USD gained yesterday against majors. Today’s main event is the Bank of Canada Rate Decision. 

CurrenciesAlthough mostly stable, the dollar managed to stage a slight comeback yesterday. The EUR plunged to a 20-month low on Monday (1.0505) but quickly managed to post a 3 week high of 1.0797 on the same day as market participants concerns were eased in regards to the Italian PM resignation. Overnight, the AUDUSD dropped 0.5% after GDP data showed that the country’s economy dropped for the first time since 2011. Against the CAD, the USD managed to strengthen for the first time in 3 days on the back of weaker oil prices. The CAD surged to a 6 week high of 1.3236 on Monday as oil prices surged after OPEC stroked a deal to cut output last week. Today’s BOC rate decision will be key to the CAD’s direction.

Stocks: Dow Jones closed at another record high at 19251.78 overnight, up 35.54 pts, or 0.18%. S&P 500 also ended up 7.52 pts, or 0.34%, at 2212.23, just shy of record close at 2213.35. Shares in Asia Pacific also rose as Nikkei closed 0.5% higher while Australia, despite the negative GDP data managed to close at +0.83%. In Europe, it is noteworthy to say that the German DAX has managed to break its long term resistance level of 10800, posting 10860 highs, a level not seen since 12 months.

Oil and Gold: Oil gave back some of its recent gains, with WTI falling 2.1% to $50.7 per barrel. A Bloomberg report suggesting output from OPEC would reach a record high in November also cast a negative tone over the market. The focus now shifts to the meeting with non-OPEC producers on Wednesday to discuss further cuts to production. While Russia has promised to cut output by 300kb/d, there is a growing feeling in the market that it may need to cut even further to reach the 600kb/d target that OPEC wishes to achieve.  Overnight, gold prices dropped to levels approximately 12% from November highs as a stronger USD and a widely expected Fed rate hike next week combine to tamp down interest in the precious metal.

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The Seven Deadly Sins of Financial Trading – Lust

Greed. Envy. Gluttony. Sloth. Wrath. Lust. Pride… the seven deadly sins. According to ethics, these are the transgressions standing in the way of spiritual progress and purity. In reality though the seven deadly sins represent the dangers of both excess and defect which in modern times can be applied to virtually every aspect of life.

These cardinal vices often play out in the financial markets, leading traders to spiritual ruin or even bankruptcy. For this reason, it’s important to understand how these sins impact our trading behavior. It’s even more critical to identify the root causes of these transgressions so that we can replace them with virtues.

In this series, we take a look at the seven deadly sins of financial trading and how you can overcome them to improve your trading mindset.

Lust is traditionally understood in an intimate context, however if that’s what you are expecting here you will be disappointed… it isn’t the Wolf of Wall Street!  Actually lust can refer to any uncontrolled urge, including those related to money and finances and many people become traders because they have an insatiable appetite for money and can’t find conventional ways of attaining it.

Remember that quote “The love of money is the root of all evil”? Well, wanting to be financially stable and have a good income is ok but the all consuming lust for the mighty dollar can be problematic. When money is on the line, lust can be a very dangerous trait. This deadly sin can lead you down the path of greed, gluttony and even wrath in the event that your trades don’t go in the right direction. Practically speaking, trading forex, stock indices, commodities or CFDs out of pure lust without grounding and education is a sure fire way to blow out your account. It’s also extremely irresponsible.

Traders motivated by an intense desire for wealth may need to seek to purify themselves before letting their lust destroy them. Purity doesn’t have to be a religious concept; in fact, it can refer to any intention to enjoying good. A trader’s road to purifying himself doesn’t require pilgrimage it requires critical self-reflection (boring, but hear us out). Critical self-reflection means zeroing in on the reasons why you decided to become a trader. .. perhaps this is financial security?

OK, but what else motivates you other than financial success? How much money do you need to be happy or feel successful? What will all that money help you achieve? If you acquire it, how will that money change your lifestyle or behaviour? Most importantly, how do you intend to give back once you’ve acquired your fortune?

These are just some of the questions you need to ask yourself to ensure that your goals align with your trading strategy. As you can see, self-reflection doesn’t have to be boring. Rather, it should help you understand your motivation for becoming a trader. Now would be a good time to re-list your goals and read up on success stories in the market. The Warren Buffetts and Paul Tudor Jones’ of this world can help you develop an appreciation for the type of personality that’s most conducive to building and sustaining riches. They will also teach you how to be humble.

In reality, managing lust is all about self control and if you are having trouble in this capacity, there’s a pretty good chance you lack control in other aspects of life as well. Psychologists say that lust is almost instinctive, and once we begin to fulfill our lustful desires, it’s difficult to shake it off so the vicious cycle begins. As students of behavioural finance and trading psychology, traders must learn to feel satisfied with their accomplishments and reward themselves appropriately. This will ensure a healthy progression toward one’s goals rather than fall into the vicious cycle of lusting after something bigger just for the sake of it.

TAKEAWAYS

  1. Take note of why you really want to make money
  2. Work on self control in all areas of your life
  3. Relist your goals and work towards them

Are you a lustful trader? Tweet us @easymarkets and let us know, alternatively contact our support team for assistance.

Source Sam Bourgi- Financial Markets Writer

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White House: Trump’s $4 bln figure on Air Force One is questionable

ABOARD AIR FORCE ONE, Dec 6 (Reuters) – The White House said
on Tuesday it does not know where President-elect Donald Trump
got his figure of more than $4 billion to replace the Air Force
One plane…The post White House: Trump’s $4 bln figure on Air Force One is questionable appeared first on NASDAQ.The post White House: Trump’s $4 bln figure on Air Force One is questionable appeared first on Forex news – Binary options.
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GBP/USD Pulls Back From Fresh Monthly High; Relief Rally Still Intact

GBP/USD may continue to push to fresh monthly highs over the coming days as the exchange rate preserves the bullish formation following the British Pound ‘flash crash.’The post GBP/USD Pulls Back From Fresh Monthly High; Relief Rally Still Intact appeared first on Forex news – Binary options.
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Bullet Report: The EURO rebounds from 20 month lows. Is this the end of the Dollar Rally?

It was a relatively calm session overnight with investors soothing their wounds from the sharp reversal of the EUR following the results of the Italian Referendum. As the NO vote was largely expected, and the implications of Italy not being governed 100% until a new PM is appointed are not as dramatic as feared, EUR as well as stocks recovered their initial losses and traded higher on the day. With this risk event now out of the way, focus will shift on this week’s ECB announcement to set the tone.  Currently markets are anticipating a six-month extension to the 80 billion a month program. But growing political uncertainty in the region might prompt ECB to act more than expected. 

CurrenciesThe EURUSD touched 20 month lows after the Italian Referendum (1.0505) but managed to rebound sharply and reach highs of 1.0795 overnight. The fact that the Italian vote was largely priced in, together with the Dollar’s aggressive rally following the Trump elections seemed to have been the reason for the inability of the USD to post new highs. The Dollar rally is now under threat, as it has been every time EURUSD approaches 1.05 (4 times in the last years). This time however, we still have political risk events in the horizon, with elections coming in the Netherlands, France and Germany next year.  Elsewhere, Australian dollar remains steady in range after RBA left the cash rate unchanged at 1.50% as widely expected.

Stocks: Global stock sentiment roared following the initial selloff post the referendum results as investors were relieved over the lack of any immediate sign that Italy would head toward an early election after the PM’s resignation. Dow Jones set a fresh record high following a good US data report that showed further strong job gain last month. The positive sentiment was transferred to Asia, with regional stocks posting their biggest rise in 2 weeks.

Oil and Gold: Oil fell, with US crude down more than 1% at $51.26 per barrel as investors judged that a 16% rally since the OPEC agreement last Wednesday to curb production was running out of steam. Brent crude also stumbled. Gold tumbled to $1157 lows, its lowest since February, before bouncing at $1170.

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Markets Brace for Volatility as Italy Votes “No” on Constitutional Reform

The global financial markets were on high alert Monday after Italian Prime Minister Matteo Renzi conceded defeat in the December 4 referendum. Analysts note his defeat likely paves the way for the populist Five Star Movement to sweep to power.

Renzi staked his political career on a “Yes” outcome in the referendum he proposed, which would have reformed the constitution by reducing the powers of the Senate. Renzi, who made his name as an anti-establishment candidate, has formally resigned from office.

“The experience of my government ends here,” Renzi said in a news conference, adding that the outcome of the plebiscite “extraordinary clear.”

“I have lost and I say it out loud,” he said.[1]

Exit polls showed more than 59% of voters said “No” to the constitutional reforms, compared to around 40.4% who voted in favour of them. According to the country’s Interior Ministry, around 70% of eligible voters participated in the plebiscite.

Public opinion polls in the weeks leading up to the referendum painted a grim picture for the embattled prime minister, who was increasingly viewed in a negative light by Italians frustrated by dismal growth and high unemployment.[2] Therefore, the referendum was also seen as a vote of confidence in the now former leader.

The global financial markets are bracing for possible turmoil in the aftermath of the vote. The euro immediately plunged to 20-month lows against the US dollar, with the EUR/USD exchange rate falling toward 1.0500.

Asian stocks were down across the board, with mainland China’s Shanghai Shenzhen down nearly 2% in the early afternoon.

However, analysts noted that the market’s response was muted in comparison to other major events earlier this year, as investors had already priced in a Renzi defeat.[3]

“Risk sentiment has taken a hit from rejection of the Italian referendum,” Citigroup analysts said in a report following the referendum, adding that the margin of rejection is “surprising.”

They added, “Italy’s Prime Minister Renzi has resigned after accepting defeat in the referendum. This raises the political risks in Italy and may weigh on its troubled banking sector. This also casts significant doubts over Italy’s membership of the European Union and the future of Eurozone.”[4]

Italy is currently mired in an escalating banking crisis that may erupt in a regional calamity. Italian banks hold nearly one-third of the euro area’s nonperforming loans. That amounts to roughly €360 billion. About €286 billion are concentrated in 14 of the country’s largest banks.[5] While the European Central Bank (ECB) has already stipulated targets for reducing the amount of nonperforming loans, there is little it can do about the banks’ capital requirements unless Rome asks for a rescue package to bail out its financial sector.

The exit of Renzi leaves the door wide open for the Five Star Movement to gain power. The far-right populist party has vowed to shake-up Italian politics by bringing the question of euro membership to the people. Following Brexit and the election of Donald Trump to the US presidency, anti-establishment politics are quickly gaining traction. The prospect of “Quitaly,” as it is so called, threatens to undermine what little confidence is left in pan-European membership.

Italy’s economic recovery nearly stalled in the second quarter. Gross domestic product (GDP) expanded 0.3% in the three months through September, matching the broader euro area’s growth rate.

The Italian economy has expanded in each of the past seven quarters, but remains very weak overall. Earlier this year, analysts at the International Monetary Fund (IMF) warned that Italy will remain locked in low growth for another decade, highlighting the ongoing challenges of one of Europe’s most troubled economies.[6]

[1] Russia Today (December 4, 2016). “Italy’s PM Renzi cedes defeat, plans to resign after decisive ‘No’ vote in constitutional referendum.”

[2] Sam Bourgi (November 20, 2016). “Italy at Risk of Breaking EU Budget Rules as Referendum Looms.” Economic Calendar.

[3] Martin Farrer (December 6, 2016). “Italy: what happens next?” The Guardian.

[4] Barney Henderson and Harry Yorke (December 5, 2016). “Euro slides to 20-month low and markets braced for turmoil as ‘No’ wins Italy referendum.” The Telegraph.

[5] Reuters (November 29, 2016). “Italian banks hold nearly a third of euro zone’s bad loans: ECB.” CNBC.

[6] Mehreen Khan (May 23, 2016). “Italy stuck in lock growth for another decade – IMF.” Financial Times.

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Fin-Tech and the Future of Trading

From the desk of Nicolas Shamtanis, easyMarkets.

Advances in information technology have long played a vital role in the financial sector. In the 21st century, the rise of disruptive technologies has given birth to a new generation of Fin-Tech, which describes the growing integration between emerging IT and traditional financial services. While Fin-Tech has been well documented in the mobile banking, payments and lending arenas, it is also sweeping through the retail trading segment in the forms of artificial intelligence, big data analytics and machine learning.

The financial markets are all about identifying patterns that may help you make more informed investment decisions. As industry exports rightly note, some patterns aren’t easy for the human mind to grasp. That’s where emerging technologies such as AI and big data come into play.

Hedge funds have long been experimenting with Artificial Intelligence to gain an edge in an increasingly volatile market. Now, these trends are beginning to trickle down to retail traders in the form of robo-advisors, which promise lower fees than your typical fund manager.

Big data analytics – the ability to derive business and investment decisions from voluminous data sets – is also impacting the investing world. The ever-expanding capabilities of computers has allowed traders to feed big data into automated programs, algorithms and statistical models. These programs quickly analyze historical market patterns and real-time news, enabling traders to derive possible profitable trades. While such capabilities are typically beyond the reach of individual day traders, we are beginning to see an uptake in AI and predictive analytics in the market for exchange-traded funds (ETFs). Day traders involved in forex, stock indexes and commodities can also tap into big data analytics via several reasonably priced applications.

Traders may begin to appreciate the power of big data analytics by reflecting on just how much data gets produced each day in the market. According to a recent study, the New York Stock Exchange alone generates 1 terabyte of new data on a daily basis. The same study also found that 92% of global data traffic is driven by 2.5 quintillion bytes of new data created every data.[1] Somewhere in there is a great investment decision. That’s where emerging technology comes in handy.

In reality, computer-assisted trading is nothing new. What makes the recent explosion in Fin-Tech so special is the increase in sophistication of such trading tools. In 2016, this means intelligent software that can not only analyze the market, but adapt to evolving market conditions without guidance from human beings.[2]

As the evolution of Fin-Tech continues, investors, hedge funds and retail traders may stand to profit from new ways of looking at data. All the hype surrounding AI and big data appears to be finally trickling down to the average user. There’s certainly no time like the present to be trading the financial markets!

[1] Muqbil Ahmar (June 23, 2016). “Get rich on the stock market using Big Data Analytics.” FirstPost.com

[2] Georgia McCafferty (May 4, 2015). “Artificial intelligence is the next big thing for hedge funds seeking an edge.” Quartz.

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Bullet Report: Italian vote ‘NO” – Could EURUSD drop to 1:1?

Italians have voted a resounding “NO” to a change in the constitution yesterday, forcing the Italian Prime Minister Matteo Renzi to resign and triggering a new round of political uncertainty in Europe. An astounding 60% has voted against the constitutional reform which would have helped the government to pass laws easier that it can now. The political turmoil can now jeopardize plans to recapitalize suffering Bank Monte dei Paschi di Siena.

The main event this week is the ECB Meeting on Thursday where ECB President is expected to announce a 6-month extension to the extension to the asset purchase plan.

Currencies: The EURUSD got crashed yesterday after the constitutional vote failed to get passed from the Italian people. EURUSD fell as low as 1.0505 – a new 1.5-year low, and is now approaching 2015 March lows of 1.0457 which if broken, could open up the way to parity, a scenario that many traders now consider a possibility. The USD briefly fell to 112.87 JPY before stabilizing at 113.77, up 0.3% from late U.S. levels, still off its 9-1/2-month high of 114.83 touched last week. The USD softened on Friday as investors took profits from its recent gains following solid, but not spectacular, U.S. non-farm payrolls data for November which showed a 178.000 jobs created. The New Zealand dollar, which earlier weakened almost 1 percent to $0.707 after Prime Minister John Key unexpectedly announced his resignation on Monday, recovered a little to trade at $0.7106.

Oil and Gold: Gold prices dropped today on expectations that the FED will raise interest rates next week. Prices spiked to $1188 initially after the NO vote was out, however traders sold the metal back which now trades at $1172. Oil prices fell also by 1% or 50 cents to $51.25.

Stocks: As expected, Shares so far in Asian have reacted negatively to the Outcome of the Italian referendum. In Japan, the Nikkei is down -0.65%, while Shares in Germany have opened the day in the red zone as well. Last week, US stocks were mixed after the close on Friday as the Dow jones, declined 0.11% while the SP500 closed +0.04% and Nasdaq added 0.09%.

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