Forex Brokers Update — May 19th, 2019

It was one more week without new additions of broker listings to our website. The updates included:

RoboForex removed Fix-Cent account type. Modified Pro-Cent account type for slightly higher spreads and increased a minimum account size there from $1 to $10. The number of currency pairs available for trading has been decreased from 48 to 36 for these accounts.

FXCM now offers trading in Bitcoin Cash (BCH/USD) and Ripple (XRP/USD) cryptocurrencies.

AccentForex closed its office in the United Kingdom.

Grand Capital removed its ordinary ECN account type (ECN Prime is still available) and added Crypto account type, introducing the following new cryptocurrency pairs: DASH/USD, ETC/USD, ETH/USD, LTC/USD, XMR/USD, XRP/USD, and ZEC/USD.

GOMarkets added Skrill, Neteller, and FasaPay as payment options. The broker also lowered minimum spreads in Standard accounts slightly.

GDMFX now accepts deposits via Bitcoin. Removed Australian dollar and Japanese yen from supported account currencies.

If you have any questions or comments regarding any of the latest Forex brokers updates, please feel free to reply using the form below.

EUR/USD Fails to Maintain Rally After US Consumer Sentiment Provides Positive Surprise

EUR/USD attempted to rally intraday but failed to keep gains, especially after the consumer sentiment reported by the University of Michigan demonstrated surprisingly sharp improvement.

Leading index rose 0.2% in April, in line with expectations. The March increase got a negative revision from 0.4% to 0.3%. (Event A on the chart.)

Michigan Sentiment Index surged to 102.4 in May from 97.2 in April, far above the forecast value of 97.8. That was the highest level in fifteen years. (Event A on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

EUR/USD Fails to Maintain Rally

EUR/USD attempted to rally today but failed and is now trading below the opening level. The euro got temporary boost from the news that the United States will delay implementing new tariffs on European cars, but concerns about the upcoming European parliamentary elections and the Italian budget issue pushed the shared 19-nation currency lower. Positive US macroeconomic data also weighed on the currency pair.

Housing starts were at the seasonally adjusted annual rate of 1.24 million in April. That is compared to the median forecast of 1.21 million and the previous month’s revised value of 1.17 million (1.14 million before the revision). Building permits were at the seasonally adjusted annual rate of 1.30 million, up a little from the March reading of 1.29 million and in line with expectations. (Event A on the chart.)

Philadelphia Fed manufacturing index climbed from 8.5 in April to 16.6 in May, far above the forecast level of 10.0. (Event A on the chart.)

Seasonally adjusted initial jobless claims fell from 228k to 212k last week, below the median forecast of 220k. (Event A on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

EUR/USD Settles Flat, Recovering from Intraday Drop

EUR/USD was falling today but jumped sharply at 14:00 GMT. The rally allowed the currency pair to settle flat. There were plenty of macroeconomic reports in the United States today, and most of them were disappointing.

Seasonally adjusted retail sales fell 0.2% in April instead of rising at the same rate as analysts had predicted. The sales were up 1.7% in March. (Event A on the chart.)

NY Empire State Index climbed from 10.1 to 17.8 in May, reaching the highest level in six months. That is instead of falling to 8.2 as specialists had forecast. (Event A on the chart.)

Industrial production and capacity utilization decreased in April. Industrial production fell 0.5% after rising 0.2% in March (revised from a drop by 0.1%). Experts did not expect any change. Capacity utilization edged down from 78.5% (revised from 78.8%) in March to 77.9% in April, missing the consensus forecast of 78.7%. (Event B on the chart.)

Business inventories were virtually unchanged in March from February, matching expectations, after rising 0.3% in the previous month. (Event C on the chart.)

US crude oil inventories expanded by 5.4 million barrels last week, surprising traders who did not expect any change, and were above the five-year average for this time of year. The stockpiles shrank by 4.0 million barrels the week before. Total motor gasoline inventories decreased by 1.1 million barrels and were below the five-year average. (Event D on the chart.)

Net foreign purchases were at -$28.4 billion in March. That is compared to the median forecast of $36.3 billion and the reading of $51.9 billion registered in February. (Event E on the chart.)

Yesterday, a report on import and export prices was released, showing an increase by 0.2% in April for both indicators after they both rose by 0.6% in March. (Not shown on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

Forex Brokers Update — May 12th, 2019

Another week has passed without new broker listings. Still, we have a number of updates to report on:

RoboForex is now licensed by the Central Bank of Belarus.

FXOpen does not accepts SOFORT and giropay.

FxPro accepts UnionPay payments.

FXPRIMUS now accepts UnionPay and giropay for deposits and withdrawals. Raised minimum account size from $250 to $1,000.

FXPCM increased the minimum position size from 0.01 to 0.1 and lowered spreads a little in their Mini accounts. Elite account type now also features lower spreads.

FXOptimax no longer works with WebMoney.

FxNet stopped accepting UnionPay and QIWI deposits/withdrawals. Raised minimum account size for VIP accounts from $2,000 to $10,000 and for Platinum accounts from $5,000 to $25,000.

FXLinked now also offers accounts denominated in Polish zloty, Russian ruble, and Singapore dollar. Increased the minimum account size from $5 to $10 and minimum position size from 0.01 to 0.1.

FxGrow removed MoneyGram and Western Union payment options but added Yandex.Money.

FXGlory raised margin call level from 50% to 60%.

FXGlobe introduced trading in indices and in cryptocurrencies (BTC/USD and ETH/USD).

FXFlat became one of the few Forex brokers that work with PayPal.

FXCL ditched OKPAY in favor of Skrill.

FXCH now allows Bitcoin, Perfect Money, and WebMoney deposits. No longer accepts Liqpay and OKPAY.

FXB Trading introduced payments via Liqpay and Yandex.Money. Increased the minimum account size for Basic accounts from $25 to $250. For VIP accounts, the minimum size has been lowered from $25,000 to $5,000. VIP accounts now also have variable spreads.

FX Trading Pro raised minimum trade size from 0.001 to 0.01 lots.

FOREX UKRAINE has been delisted due to its website inactivity.

If you have any questions or comments regarding any of the latest Forex brokers updates, please feel free to reply using the form below.

EUR/USD Rallies After US Inflation Miss

EUR/USD rallied today, accelerating its rise after US inflation missed forecasts. While the currency trimmed gains by the session’s end, it still closed far above the opening level.

US CPI rose 0.3% in April, while analysts had expected the same 0.4% rate of growth as in March. (Event A on the chart.)

Treasury budget turned from a deficit of $146.9 billion in March to a surplus of $160.3 billion in April. That was a total surprise to analysts who had expected the deficit to widen to $165.2 billion. (Event B on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

EUR/USD Jumps as Sino-US Trade Talks Continue

EUR/USD rallied today while traders were waiting for the outcome of US-China trade negotiations. US macroeconomic data was decent for the most part, though unemployment claims were disappointing.

PPI rose 0.2% in April, in line with expectations, after rising 0.6% in March. (Event A on the chart.)

US trade balance deficit widened to $50.0 billion in March from $49.3 billion in February, revised. Analysts had predicted a bigger increase to $51.4 billion. (Event A on the chart.)

Initial jobless claims fell just a bit from 230k to 228k last week, whereas analysts had predicted a much bigger drop to 215k. (Event A on the chart.)

Wholesale inventories slipped by 0.1% in March, while experts had thought that they would be unchanged, the same as in February. (Event B on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

EUR/USD Moves in Range as Sino-US Trade Tensions Escalate

EUR/USD was attempting to rally intraday but retreated and is moving in range currently. The first half of this trading week was light on macroeconomic data in the United States, and traders were focused on escalating trade tensions between the USA and China as it seems that the trade negotiations are collapsing.

US crude oil inventories decreased by 4.0 million barrels last week instead of rising by 1.1 million barrels as analysts had predicted. The stockpiles were at the five-year average for this time of year. The week before, the reserves swelled by 9.9 million barrels. Total motor gasoline inventories fell by 0.6 million barrels and were below the five-year average. (Event A on the chart.)

Yesterday, a report on consumer credit was released, showing an increase by $10.2 billion in March from the previous month. That is compared to the median forecast of an increase by $17.0 billion and the February gain of $15.4 billion (revised up from $15.2 billion). (Not shown on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.