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Friends & Family Invitation Bonus


Invite friends or family members to trade with SuperForex and earn a cash bonus of up to $100.

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Choose the “Bonuses” tab on the left hand-side menu in the Clients Cabinet and select the Friends & Family Invitation Bonus. At the bottom of the page click the “Get the Friends & Family Invitation Bonus” button.

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The Friends & Family Invitation Bonus will be credited to your account as soon as your friend (or family member) registers a real trading account with us and makes an initial deposit of at least $100 to it. The amount of the bonus depends on the amount of the deposit to the newly opened account. Please, see the table above for reference.





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BoE Confirms Its Preference For A Weak British Pound

The Bank of England (BoE) released its latest pronouncement on monetary policy on April 14, 2016. As has been the case for what feels like forever now, the BoE kept policy the same with Bank rate at 0.5%, and it maintained the stock of purchased assets at £375 billion.

The BoE concluded that the outlook for the UK economy and inflation have “little changed” from February’s Inflation Report. This conclusion includes an expectation for global growth “to be somewhat subdued by historical standards.” So the BoE’s commentary regarding the British pound (NYSE:FXB) interested me the most. I interpret the BoE’s currency commentary as indicating a desire to maintain a weak British pound.

First, the BoE is still blaming subdued core inflation partially on the appreciation of sterling. Yet, the British pound stopped appreciating against the U.S. dollar (NYSE:UUP) in the summer of 2015. Ditto for the euro (NYSE:FXE). Weak global inflation and “restrained domestic cost growth” seem like more salient explanations at this juncture.

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The British pound has not appreciated for a long time

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UR/GBP stopped going down last summer. Is the BoE worried that it this important currency pair will fail to brea through the downtrend in place since the peak of the financial crisis?

The BoE made plain its preference for a depreciating currency when it connected the weakness to a stronger economy:

“Sterling has depreciated further over the past month. Risk-free interest rates in the United Kingdom and elsewhere have also declined. Together with rises in the prices of many risky assets, these movements should support economic activity.”

The BoE also included a depreciating currency as part of the catalyst for strengthening inflation in coming months:

“Domestically, growth has been steady, and the MPC continues to expect CPI inflation to rise over the next year. The pickup in the price of oil and sterling’s recent depreciation will support that rise.”

Yet, the BoE is concerned that market fears over the potential for the UK to exit the European Union (“Brexit”) are the main drivers of currency weakness. Thus, the BoE should be particularly loathe to do anything between now and the June 23rd referendum on EU membership that could support the currency:

“…the likelihood that much of the fall in sterling reflects uncertainty surrounding the forthcoming referendum on the United Kingdom’s membership of the European Union raises questions regarding whether the lower level of sterling will persist and its net economic impact.”

In other words, if voters approve the status quo EU membership, subsequent strength in the pound could act as a brake to UK economic activity. The impact could be particularly abrupt given the pound could substantially increase all at once.

Moreover, the uncertainty surrounding the referendum is itself dampening growth and making the BoE even MORE cautious (of course, the BoE did not mention how a resolution of Brexit uncertainty could provide an immediate economic boost):

“There are some signs that uncertainty relating to the EU referendum has begun to weigh on certain areas of activity, as some decisions, including on capital expenditure and commercial property transactions, are being postponed pending the outcome of the vote. This might lead to some softening in growth during the first half of 2016…

referendum effects are likely to make macroeconomic and financial market indicators harder to interpret over the next few months, and the Committee is likely to react more cautiously to data news over this period than would normally be the case.”

Between traders placing selling pressure on the British pound and Brexit-laden economic results, all signs still point downward for the British pound. For trading, I remain focused on fading rallies on the British pound.

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Since at least the financial crisis, traders have spent a vast majority of their time shorting the British pound.

Be careful out there!
 
Selamat malam :)

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120% Hot Bonus


For unlimited period of time SuperForex’ customers can get a 120% bonus when replenishing their accounts. The bonus is intended for traders who want to operate with a larger trading volume and earn a better profit.


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Step 2. Apply for the 120% Hot Bonus

After registering a real account, please choose “Bonuses” tab on the left hand-side menu and select the 120% Hot Bonus. At the bottom of the page click the “Get the 120% Hot Bonus” button.

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The 120% Hot Bonus will be automatically credited to your account.




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Aussie Holds Highs Off Chinese Economic Report

Market Drivers April 15, 2016

CNY data beats
EZ Trade Balance in line
Nikkei -0.37% Dax 0.55%
Oil $41/bbl
Gold $1231/oz..

Europe and Asia
CNY: GDP 6.7% vs. 6.7%
CNY: IP 6.8% vs. 6.7%
Retail Sales 10.5% vs. 10.5%
EUR: Trade Balance 20.2B vs. 21.9B

North America
CAD: Manufacturing Sales 08:30
USD: Empire 8:30
USD: U of M 10:00

It's been a very quiet night of trade in FX market with most of the majors contained to ultra narrow ranges. In fact EUR/USD has been in 25 pip zone for the past 24 hours as the pair remains in equilibrium for the time being.

The main event risk of the night came from China which released a slew of economic reports including GDP, Industrial Production and Retail Sales. Every data point either beat or met expectations with IP rising to 6.8% from 5.9% eyed while GDP printed at 6.7% as expected.

The increase in new yuan loans which was triple from the month prior suggests that expansionary credit may have pumped some activity into China slowing economy as growth remained steady. Still many analysts are skeptical of Chinese official figures which appear to be much smoother than other economic data series from G-20 nations.

Some analysts have pointed out that China's rail traffic which may be a much better measure of not only manufacturing but consumer activity as well has declined significantly and may be on track to collapse to levels not seen since 2007. Given such contrary data sets it's hard to imagine that growth remains at 6.7% pace. Still the currency markets accepted the news at face value and Aussie remained bid, hitting a high of 7734 in Asian session trade and holding comfortably above the 7700 figure in European dealing.

In North America today the main data driver will be the U of M Consumer survey expected to print at 91.9 versus 91.0 the month prior. USD/JPY has held firm above the 109.00 despite a slew of negative news this week, suggesting that the pair is grossly oversold and in need of a bounce. Therefore any positive news could spur some buying in the pair but 110.00 will likely remain stiff resistance for now and currency markets will continue to consolidate.
 
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Currency
Rates
EUR / USD
1.11906
USD / JPY
158.196
GBP / USD
1.32172
USD / CHF
0.83251
USD / CAD
1.42452
EUR / JPY
177.168
AUD / USD
0.69582
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