Economic news ahead of NFP.
Economic news to watch out for.
Highlights from the previous week: Canada Interest Rates remained unchanged at 0.50%. Australia Employment Change dropped by 11.3k from previous month, it was expected to come out at 10.1k but the actual came out at 7.9k which was 2.2k below expected figure while Unemployment Rate remained unchanged at 5.8%. UK official Bank Rates remained unchanged at 0.50%, the market was expecting a rate cut by 0.25% post Brexit. U.S PPI increased by 0.2% and came out at 0.5% as opposed to expected figure of 0.3%, while U.S Unemployment Claims dropped by 9K and came out out at 254K as opposed to 263k expected. Canada Core CPI remained unchanged at 0.2%. U.S Core Retails Sales increased by 0.3% while U.S Retail Sales also got a positive print and increased by 0.5%. Below are the economic news to look out for this week.
Its been a slow week as far as economic news flow are concerned. Below are the economic news to look out for.
ECONOMIC CALENDAR JULY 11th TO JULY 15th
|DATE||NEWS||NEW YORK TIME||LOCAL TIME||FORECAST||CURRENCY|
|13th July||Overnight Rate||10:00am||4:00pm||0.50%||CAD|
|13th July||Employment Change||9:30pm||3:30am 14th||10.1K||AUD|
|13th July||Unemployment Rate||9:30pm||3:30am 14th||5.8%||AUD|
|14th July||MPC Official Bank Rate Votes||7:00am||1:00pm||0-9-0||GBP|
|14th July||Official Bank Rate||7:00am||1:00pm||0.25%||GBP|
|14th July||Unemployment Claims||8:30am||2:30pm||263K||USD|
|15th July||Core CPI||8:30am||2:30pm||0.2%||USD|
|15th July||Core Retail Sales||8:30am||2:30pm||0.4%||USD|
|15th July||Retail Sales||8:30am||2:30pm||0.1%||USD|
|15th July||Prelim UOM Consumer Sentiment||8:30am||2:30pm||93.7||USD|
Managed Forex accounts
”Ntombi do you manage your client’s accounts?” One of the frequently asked questions, and the answer to that is No, I do not manage client’s accounts because I am not a fund manager. There are people who would love to participate in financial markets but they simply do not have time to learn or are not interested in learning. There are options for such individuals. Read more about managed forex accounts.
You can find a broker that offers mirror/copycat trading. Copycat trading is when you open an account with a broker and have it linked to one of their recommended top traders. When they execute a trade, it automatically goes to your account as well and you can see open positions and you can even close some (if you know how to). The copied trader has total control but you can also see everything and can uncopy anytime. Read more about copycat trading HERE . If you like the idea of copycat trading and you’d like to have one, Whatsapp me on +27 76 966 9392 for more information or for a recommended copycat trading broker. I will be happy to assist.
PAMM: Percent Allocation Money Management
It is an application used by Forex brokers to allow their clients to attach money to a specific trader managing one or more accounts permitted on a basis of a limited power of attorney. PAMM allows a head trader to simultaneously manage trading accounts of clients on one trading platform. Each account has it’s own ratio depending on the money deposited in the account (which is why the investors in most cases are required to invest a large sum of money) . Investor’s profits are allocated between managed accounts accordingly. Each investor gets profits according to their ratio which is based on a deposit/investment. PAMM account holder also gets a cut from profits made (after all he/she is the one trading the funds). This is all done under the broker’s supervision and it is a legit way to invest in managed Forex accounts. Let’s assume Ntombi is the fund manager and she charges 30% for her performance fee on monthly basis. Let’s assume again that after one month of trading she makes about 40% return of initial investments (combined) from:
- Investor Tumelo
- Investor S
- Investor N
- Investor V
The total amount invested in this PAMM account is $11 500 and 40% = $4600.
How much will each investor be allocated?
Investor Tumelo will get $2000 (40% of $5000) and Ntombi will get her 30% cut (which is $600) as per signed agreement. Tumelo will then keep $1400 ($2000-$600). Total amount on investor Tumelo’s account = $6 400
Investor S will get $1400 (40% of $3 500) and Ntombi will get her 30% cut (which is $420) as per signed agreement. Investor S will then keep $980 ($1400-$420). Total amount on investor S’s account = $ 4 480.
Investor N will get $800 (40% of $2000) and Ntombi will get her 30% cut (which is $240) as per signed agreement. Investor N will then keep $560 ($800-$240). Total amount on investor N’s account = $ 2 560.
Investor V will get $ 400 (40% of $1000) and Ntombi will get her 30% cut (which is $120) as per signed agreement. Investor V will then keep $280 ($400-$120). Total amount on investor V’s account= $1 280.
After the first month Ntombi has earned $600+$420+$240+$120= $1 380 and her investors are happy.
All the above mentioned sounds so awesome. But it doesn’t always play out like that and things aren’t always as beautiful as they are on paper. Everything will depend on market conditions at the end. But at least you do have an idea of how you can participate in Forex market without being hands on. I have a regulated broker who offers PAMM accounts. Please note that I personally do not offer PAMM accounts or managed Forex accounts. I am just dishing out information and trying to save you from being scammed by “fund managers”. I am also not claiming that all fund managers are scammers, there are good managers out there. For more information on how to get a PAMM account, WhatsApp me on +27 76 966 9392 or +27 64 510 4132 and I’ll be happy to assist. Or register for your account HERE.
Facebook “Forex account managers”
I get so shocked sometimes when people come to my Facebook inbox crying because some guy/lady on Facebook was advertising the managed Forex account services and people invested thousands of dollars and the “fund manager” disappeared with their money. My advice to a person who wants to participate in the markets, do it with a regulated fund manager, not with someone you found on FB and they showed you a trading history or screenshots. Be smart and take care of your hard-earned cash.
Nothing will ever be greater than understanding the markets and trading your own funds. Thank you for reading. I hope you found this post informative, please kindly share with your peers.