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FTSE 100 futures set to slide on poor EU economic data

FTSE 100 futures are trading below 6000, suggesting the index will open lower on Monday, with investors’ reacting to disappointing economic data from the UK, France and Germany. The Office of National Statistics (ONS) revealed that UK public debt at the end of July was larger than the entire UK economy for the first time…

FTSE 100 futures are trading below 6000, suggesting the index will open lower on Monday, with investors’ reacting to disappointing economic data from the UK, France and Germany.

The Office of National Statistics (ONS) revealed that UK public debt at the end of July was larger than the entire UK economy for the first time in more than 50 years, with similar data from France and Germany suggesting that the eurozone’s economic recovery was slowing.

In France services flash purchasing managers’ index (PMI) came in at 51.9, down from 57.3 in July, while Germany fell to 50.8, down from 55.6 last month.

The DAX closed 0.51% to 12,764 on Friday, the CAC 40 slid 0.3% to 4896, while the FTSE 100 dipped to an intra-day low of 5995 points before finally closing a touch above 6000.

FTSE 100 futures are trading at 5991 points at the time of publication.

UK PMI data points to deep recession

Duncan Brock, the group director at the Chartered Institute of Purchasing & Supply (CIPS), said that the latest PMI data suggests that the UK is heading for the ‘deepest recession in living memory’.

He also believes that it is too early to celebrate a Covid-19 recovery, with British businesses about to face the ‘harsh reality of job shedding’ once it loses the protection of the UK government’s furlough scheme in October.

‘Reducing headcount was a quick fix for many firms struggling to maintain strong supply chains and their position in the marketplace amidst higher raw material and import costs,’ Brock said. ‘With the fastest rise in activity in the private sector since October 2013, this shows an encouraging speed towards recovery which belies the fact there are still some dark forces at play.’

‘Rising inflation, the sustainability of the UK economy during a global pandemic and the poor employment figures means we’re not out of the woods yet,’ he added.

FTSE 100: technical analysis

The FTSE 100 continues to decline, losing ground over the past week and a half, with a break below 6000 likely to open the path to 5860 and the low from the end of July, according to Chris Beauchamp, chief market analyst at IG.

‘At present price action is not pointing to any sign of a near-term rebound, with even the short-term rallies of the past week running into sellers,’ Beauchamp said.

‘A rally through 6060 would signal perhaps that a more meaningful break to the upside is developing, with the lower highs at 6110 and 6170 immediate targets in the event of a move higher,’ he added.

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CMStrader Signals provider, the number 1 signal provider 4 years in a row

CMStrader Signals provider, the number 1 signal provider 4 years in a row.

CMStrader, the number 1 signal provider 4 years in a row, is now offering free signals to new clients!  Reliable trading tools are fundamental part of successful trading.

cmstrader for the Best Trading Signals

cmstrader for the Best Trading Signals

 

CMStrader’s signals success rate is estimated in 91% this should be enough to take a look and decide for yourself. since this is their biggest feature and drives this broker towards success, it is opretty afe to say that they do their utmost to provide you with quality forex signals.

This broker also entered the cryptocurrency market and offers several cryptocurrencies.  in short they act on the market and engage their clients directly.

when you start trading at CMSTrader, you can choose from a extended list of currencies, indices, commodities, gold and oil.

CMStrader Signals for better Trading

CMSTrader sends trading signals to traders’ accounts when there is an opportunity to buy or sell orders at specific points; an overview of the speculated price or loss ratio is included.

CMStrader Signals the number 1 signal provider among brokers

CMStrader Signals the number 1 signal provider among brokers

The signals are sent directly via SMS to a cellphone for major currencies traded on the stock exchange, foreign goods and precious metals.

In addition, signals can be sent to an e-mail address and or traders can be notified directly over the phone.  This service is available 24/5.

Like with Most proper signal services don’t expect 50 signals a day as simply there are not that many. you will get maybe a few good ones a day on which you could and most of the time should act.

Earn profits with CMStrader Signals in the forex market – the biggest trading scene in the world. Enjoy our unique benefits, trading education, minimum margin and best leverage! Start with a demo account and enter the amazing world of forex with CMStrader.

More about CMStrader Signals & Forex Broker

  • Name :CMSTrader
  • Website :cmstrader.com
  • Established :2013
  • Regulation :FSP
  • Country :United Kingdom
  • U.S. Clients Allowed ?  :No

CMSTrader is a leading investment advisor specializing in personal wealth management and growth and is a somewhat a newcomer to the Forex market.

they started in 2013 and since then have won several awards 2 including one for having best customer service in 2013.

CMSTrader “CMStrader Signals” is authorized under the name of CMS Ventures Limited which is a New Zealand Registered Financial Service Provider (FSP).

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Daily Financial News

Supreme Court Sides With Bits of Gold in Bank Dispute

Supreme Court Sides With Bitcoin Broker “Bits of Gold” in Israeli Bank Dispute

Upon appeal, the Israeli Supreme Court has rejected the closure of Bits of Gold’s banking facilities at Leumi bank, Tel Aviv.

The Israeli cryptocurrency brokerage’s appeal followed a previous ruling against it that has now been set aside by the higher court.

As Israel and many other countries struggle with the accelerated phenomenon of virtual currencies, Leumi Bank recently made the news for being a particularly blunt in its rejection of Bitcoin.

We should of course not be surprised with the banks attitude towards bitcoin or any other cryptocurrency for that matter. keep in mind that the banks become more and more obsolete because of them. Bits of gold versus leumi

They will keep on loosing money which now they make with ridiculous commissions of work that is fully automated. so they will try to see how they are able to make the operation and acquiring cryptos  as hard as possible knowing that they will never be able to stop them.

There is widespread anticipation that the upcoming G20 Summit in March 2018 will produce a global, moderate framework for a regulatory approach. Set against that are persistent hostile stances the world over from banks, asset managers and even governments towards cryptocurrencies.

Now that the countries understand there is money to be made with Taxation in cryptocurrencies they might want to make sure that the banks stay within their lane. 

Apart from the Israeli revenue service opting to tax cryptocurrency assets as “properties” and other more positive developments dating back to mid-2017, Israel remains a strange mix of genteel acceptance alongside wildly opposing voices.

There is thus Hope But no decision

Bits of Gold has fought a David and Goliath battle since their banker decided it wanted to steer clear of all cryptocurrency-related business.

On record as recently telling another bitcoin-related trader that they simply don’t want the business, Leumi Bank’s hard-line stance is accumulating bad press. The second-largest bank in Israel appears as discriminatory when analyzing virtual currency traders and other digital coin businesses.

During 2017, a customer made a bank transfer to the Kraken exchange site for buying bitcoin worth $1000. The bank identified the request, halted it, and started investigating.

The elated CEO of Bits of Gold, Youval Rouach said that “The court’s decision enables us to focus on the growth of the Israeli cryptocurrency community.”

 

The February 26 Supreme Court ruling granted Bits of Gold a temporary injunction against their account closure pending further scrutiny by the bank and other parties. The presiding bench declared that the company had “acted transparently and did not violate any provision of law.”

Calling the bank’s concerns “speculative” and turning an unsympathetic ear to the plaintiff, the ruling does, however, allow for the bank to still close the account on any small technical detail that defies legislation. As a record of a public spat around cryptocurrency’s right to be recognized in many ways, the ruling is seen as a victory for the local cryptocurrency community.

One Small Step Forward

Although not as absolute as nations like China that has opted for draconian bans, Israel is a front line for digital coins’ right not just to exist, but also become assets in the true sense of the word. The Supreme Court noted in its written ruling that Bits of Gold had not made itself guilty of the violation of any standing laws since opening its doors for business.

 

The Bits of Gold v. Leumi Bank case might become something of a test case once the bank applies its mind in scrutinizing the company’s accounts against the backdrop of existing legislation. The outcome will also be informed by sentiment post the G20 Summit due in March as well as other global regulatory trends.

Now that the countries understand there is money to be made with Taxation in cryptocurrencies they might want to make sure that the banks stay within their lane.

This was First Published by coindesk

 

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Daily Financial News

easyMarkets launches Ethereum and Ripple.

easyMarkets launches the crypto-markets’ best kept secret – Ethereum and Ripple.

The crypto markets are the new frontier of trading, we have seen unprecedented movement – from astonishing peaks to abrupt crashes – behaviors and easyMarkets launches Ethereum and Ripple.movements no other instrument experiences or has experienced previously.

Bitcoin was immensely popular when we introduced it to our customers in 2017. After closely following the innovative cryptocurrency markets we found two more immensely interesting (but less visible) cryptos to add to our offerings – Ethereum and Ripple.

easyMarkets launches Ethereum and Ripple.

Ethereum is a blockchain based cryptocurrency like Bitcoin, whereas Ripple is a cryptocurrency payment protocol, touted as a solution to perform payments for institutional clients. Although Bitcoin was undeniably the markets’ star in 2017 – these two crypto-counterparts had equally impressive movements.

Ripple towards the end of 2017 had a notable 33014% overall climb with a market cap of $83.6 Billion. This was assisted by Ripple’s collaboration with institutional users like American Express.

Ethereum had climbed an astounding 8,885% from the beginning of 2017 until the end of that year with a respectable market cap of 69.3 billion. Purely as a cryptocurrency it seemed to even outdo its forefather – Bitcoin – by completing transactions quicker and more effectively.

they have also lowered our spreads on Bitcoin!

Of course, all of their cryptocurrencies include easyMarkets great trading conditions:

Trading Conditions

  • There’s  zero slippage on the easyMarkets web platform meaning your Ripple trades will be executed at the price you see on your screen.
  • You can trade Ripple during its most active times, around the clock, five days a week.
  • They got you covered with an in-depth eBook and plenty of other trading education resources.
  • Make sure you have an exit plan in place by taking advantage of our 100% guaranteed Stop Loss and Take Profit.
  • They cover your deposit and withdrawal fees, so that the amount you deposit or withdraw is the amount you receive.
  • Negative Balance Protection means you can never lose more than you invest when you trade Ripple CFDs at easyMarkets.
 easyMarkets launches Ethereum and Ripple.
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