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EBC Forex Snapshot 19 Feb 2024 The dollar was steady on Monday as sticky inflation cast doubts on when the Fed would start its easing cycle soon. Traders expect the first rate cut to come in June, CME FedWatch tool showed. Sterling edged up after data showed UK retail sales grew at their fastest pace in nearly three years in January. The economy slipped into recession in the second half of last year as people tight belts. Andrew Bailey, BoE governor, warned against putting “too much weight” on the recession as it was expected to be “very shallow”. The central bank upgraded its forecast for 2024 growth earlier this month. EBC Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment, or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.

EBC Markets Briefing | Yen flirts with 150 in thin trade The yen is still rooted near the psychologically key 150 per dollar level on Monday in thin trade as US markets are closed on Monday for the Presidents' Day holiday. According to EBC Financial News, both US CPI and PPI readings increased more than expected in January, raising the prospects of the Fed’s hawkish tilt in the first half of the year. The dollar index has been up roughly 3% so far. The BOJ is on track to end negative interest rates in coming months despite the latest recession, say sources familiar with the bank, though weak domestic demand means they may seek more clues on wages growth before acting. This spring's annual wage negotiations that set pay levels for next year is seen as a more important economic indicator for policymakers to determine the timing of policy pivot than the fourth-quarter GDP. But given signs of consumption weakness, an end to negative rates is now more likely at the BOJ's April meeting rather than its March gathering, so that the bank more time to assess the health of the economy. Japan's top currency officials warned last week against what they described as rapid and speculative yen moves when the Japanese currency broke past 150. But they did not say if there would be intervention. If the yen continues its climb, the resistance around 146.00 per dollar will likely cap the rally. On the other hand, another leg lower could expose the trough of 152.00 anew. EBC Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment, or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.

EBC Forex Snapshot 6 Feb 2024 The US dollar firmed near a three-month peak as the Fed is not expected to cut interest rates in March. The Australian dollar rose after the RBA said further tightening could not be ruled out. The central bank held interest rates steady as expected and its surprisingly hawkish tone indicates that monetary easing will unlikely come anytime soon. Futures markets now see the first cut announced on September. The Australian economy has slowed to a crawl, labour market has softened and consumer spending has floundered amid higher living costs. But China’s pledge to prop up economy and India’s growth momentum may act as a buffer. EBC Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment, or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.

EBC Markets Briefing | Equities fall as Powell saps cut bets Shares on Wall Street and in Europe fell on Monday after Fed Chair Jerome Powell re-anchoring expectations. The Fed meeting and a strong jobs report make six cuts that had been priced in highly unlikely. Powell said in an interview on Sunday that almost all the FOMC member think a policy pivot will occur over the course of 2024. He expects inflation to keep falling in the first half of this year. Non-manufacturing PMI in the US increased to 53.4 last month from 50.5 in December according to the ISM. A measure of new orders received by services businesses rose to 55.0 from 52.8. Some of Wall Street’s biggest optimists become cautious. A higher number of companies' Q4 results missed analyst expectations than historically, said a Goldman Sachs research note on Monday. Deutsche Bank AG data showing that aggregate equity positioning among rules-based and discretionary funds is in the top quarter of observations going back to 2010 out of FOMO. Magnificent Seven companies carry a 33% premium to the index in terms of forward price-to-earnings, data compiled by Bloomberg show. Nvidia hit another record high overnight om AI prospects. The S&P 500, as analyzed by EBC Financial Services, sits comfortably above the ascending trend line despite some recent correction triggered by profit-taking. It will likely face a barrier at 5,000 overhead. EBC Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment, or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.

EBC Forex Snapshot 5 Feb 2024 The dollar rose to an eight-week high on Monday as traders trimmed bets for aggressive rate cuts by the Fed this year. Meanwhile the Canadian dollar weakened to a one-week low. Preliminary data showed Canada's economy likely expanding at an annualised rate of 1.2% in Q4. That means the economy probably avoided a technical recession. Money markets pared bets for an April rate cut to a 42% chance by the BOC. Oil prices just posted weekly loss due to faltering growth in China and rising non-OPEC supply. EBC Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment, or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.

EBC Markets Briefing | Gold meanders on resilient inflation and lasting war Gold slipped on Monday as a rising dollar and Treasury yields were pushed higher by a strong-than-expected US nonfarm payroll. According to the CME Fed Watch, traders now expect about a 70% chance of a rate cut in May. US employers added 353,000 jobs in January, beating the 180,000 economists had expected. A resilient economy and strong worker productivity encouraged businesses to hire and retain more employees. Gold demand hit record highs in 2023 as persistent geopolitical tensions and weakness in China’s economy pushed investors toward the safe haven asset, the WGC said in report. The report showed that the PBOC was the biggest buyer of gold at 225 tons last year, bumping up its stock to 2,235 tons. The country’s investments in gold bars and coins rose 28%. Gold purchases this year are unlikely to meet 2023 levels, but a fall in inflation could prevent a drastic drop in demand. Bullion was slightly down this year due to slowing disinflation. The Ukrainian government has informed the White House that it plans to fire the country's top military commander overseeing the war against Russia due to his incompetence, two sources said last week. Gold prices remain range-bound as expected with few catalysts leading to a breakout. Therefore, according to the EBC Financial Market Forecast, it is still justified to sell above $2,056 and buy around $2,000. EBC Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment, or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.

EBC Forex Snapshot 2 Feb 2024 The dollar fell broadly on Friday as upbeat big tech earnings on Wall Street boosted investors' appetite for risk assets. The currency was on track for its first weekly loss of the year. Sterling was muted after the BOE kept interest rates on hold but opened up the possibility of cuts. The vote, which split the MPC 6-3, pointed to a difference in opinion among board members. UK headline inflation unexpectedly nudged upward to an annual 4% in December on the back of a rise in alcohol and tobacco prices, while core CPI figure was unchanged at 5.1%. EBC Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment, or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.

EBC Markets Briefing | Oil prices claw back some losses ahead of US NFP Oil prices rose in early trade on Friday following a decision by OPEC+ to keep its oil output policy unchanged, paring some losses from the previous trading session triggered by unsubstantiated ceasefire reports between Israel and Hamas. OPEC+ delegates said that the group members plan to decide in early March whether to extend output cuts into Q2. OPEC’s production in January registered the biggest monthly drop since July, a Reuters survey found. Both contracts settled more than 2% lower on Thursday. Negotiations were in the early stages and a breakthrough isn’t expected in the coming days, according to Bloomberg. Production continued to increase and set a new monthly record of 13.3 million bpd in November 2023, according to the EIA. Output growth did not slow much as might be expected given the sharp deceleration in drilling, a trend that EBC Financial News finds noteworthy. The EIA showed US crude inventories rose by 1.2 million barrels last week, compared with analysts’ expectations for a decline of 217 thousand barrels. Crude runs fell to their lowest level since Jan 2023. Adding to oil weaknesses, China’s manufacturing activity contracted in January for the fourth consecutive month, reflecting sluggish momentum in the world’s second-largest economy at the start of the year. Brent crude dipped below the 50 EMA around $80. There is little to cheer at present unless we see a weaker-than-expected NFP report later. On the downside, the $74 level will act as immediate support, according to analysis by EBC Financial News. EBC Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment, or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.

EBC Forex Snapshot 1 Feb 2024 The dollar held near a seven-week high against the euro on Thursday, after Fed Chair Jerome Powell pushed back on the idea of interest rate cuts as soon as March. France and Germany have published their latest consumer price index data and the results are promising. INSEE reported a 0.2% drop in prices month-to-month and Destatis reported a 0.2% increase in January. ECB President Christine Lagarde said last week that "the disinflation process is at work", and Bundesbank President Joachim Nagel remarked on Tuesday that the central bank had "tamed the greedy beast" of inflation. EBC Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment, or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.

EBC Markets Briefing | Sterling remains in doldrums after Powell speech The US dollar kept rising against the pound on Thursday following the Fed meeting although the ADP showed that private payrolls increase much fewer than expectations last month. Chairman Powell downplayed the chance of imminent action. Traders are now pricing in a 38% probability the Fed will cut rates in March, down from 59% ahead of the rate decision. Earlier this week, respondents to the CNBC Fed Survey also see fewer interest rate cuts than the market’s aggressive outlook. A majority of 70% predict that rates will only go down from June. England and Wales saw the most company insolvencies since 1993 last year, while Scotland and recorded the highest numbers of company insolvencies since 2012 during the same period. Rapid increases in energy bills and staff wages are weighing on British businesses. Many households have reduced non-essential spending due to ever-rising inflation. Economists polled by Reuters last month forecast the BOE would begin to cut rates in the second quarter of this year. The IMF forecast the economy will be the second worst performer across the G7 this year. Sterling is still trading in a tight range around 1.2700. MACD suggests a potential downward bias and the recent low of 1.2500 is the next major target below the 50 SMA. EBC Forex Trading Platform: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Forex Trading Platform or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

EBC Forex Snapshot 31 Jan 2024 The dollar headed for its biggest monthly gain since September and the yen for its sharpest drop in over a year on Wednesday as the Fed and the BOJ may not change rates as soon as expected. The Australian dollar was down against the dollar as inflation report disappointed. Bond futures are now fully priced for two quarter-point reductions in 2024, with the first move in August. A court in Hong Kong has ordered the winding up of Evergrande Group on Monday, dealing another blow to investor confidence in the ailing real estate sector – a major source of iron ore demand. Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

EBC wins the 2023 Best - Rated Broker Annual Award Since its establishment, EBC Financial Group has always adhered to the principles of integrity and respect, connected traders with high-quality services, and won widespread praise in the industry. In the "2023 FOLLOWME Trading Broker of the Year" selection, he won the "Best-Rated Broker" award. Followme is an international community trading platform that supports the account connections of more than 4,000 traders around the world and provides professional services to millions of users every day. As the most watched award, the "Best-Rated Broker" award uses a multi-dimensional, comprehensive evaluation to select outstanding brokers that are loved by users. 1. Won the annual award for taking traders seriously. In this selection, EBC took the lead in user interaction and experience, integrated word-of-mouth rating, and industry influence, and successfully won the award. As an international trading broker, EBC has long been committed to building the strongest trading environment. While providing excellent order execution, institutional-level liquidity access, and diversified services, it listens to the voices of traders and provides more comprehensive security. EBC has a professional customer service team to provide traders with 7–24 hours of service. In terms of diversified service construction, EBC simultaneously created an EA tool library and introduced the same order flow tools as Wall Street to provide customized tool support. In order to comprehensively protect the financial security and rights of partners, EBC purchases professional liability insurance with coverage of more than 10 million US dollars from Lloyds of London and AON in the United States every year and joins the professional EDR agency. The Financial Commission protection fund provides each partner with additional compensation of up to 20,000 euros. Cherishing the trust of every customer and actively building the strongest trading environment that is "safe, professional, efficient, and stable" is the reason why EBC won the "Most Rated Trader" award. 2. Create the strongest trading environment and build dialogue with investors. EBC's top trading services are reflected in treating every investor sincerely and fairly to ensure that every investor can enjoy the strongest trading experience. This is also the basis for building mutual trust between EBC and its customers. EBC connects to 25+ top liquidity, directly connects to the inter-bank market, and greatly improves price optimization through ultra-low latency aggregation, intelligent order routing, and quotation optimization engines. Relying on EBC's original trading black box and private room, the matching accuracy can be further improved based on liquidity aggregation, so that orders can be protected from sniping during transactions and obtain better liquidity quotes. After optimization, more than 85% of orders can be traded at better prices on EBC. EBC has long been committed to eliminating the information gap between traders and institutions, focusing on providing equal trading conditions for institutions and insisting on the quality of trading services, allowing EBC to stand out from many trading brokers and become a firm choice for investors. It can be believed that in the future, EBC will continue to innovate standards, improve the trading experience by connecting with investors, and use actions to explain that "everyone who trades seriously deserves to be taken seriously."

​EBC Markets Briefing | Australian shares set fresh highs, driven by banking sector Australian shares have set new all-time highs on Wednesday due to weaker-than-expected inflation data. The S&P/ASX 200 has been on a stunning run for a few months now. Data from the ABS showed the CPI rose 0.6% in Q4, under market forecasts of 0.8%. According to a separate report, retail sales flipped into reverse in December. Both could hasten a RBA policy pivot. Despite the positive sign of disinflation, the country is still grappling with the highest inflation among major economies. The “Big Four” banks all added over 3% so far with expectations for improved margins. Goldman does see a few important positives for the sector in 2024, citing that new mortgage approvals appear to have reached a trough and capital positions are strong. Considering the recent economic developments, EBC Institute Perspectives highlight the potential implications for the Australian financial markets. The weaker-than-expected inflation data and the RBA policy considerations are crucial factors to monitor. GDP grew 0.2% in Q3, slightly less than expected on weak export demand, particularly in Asia, although domestic spending remained robust amid high interest rates and inflation. Australia’s largest export – iron ore has failed to extend its rally from last year. Concerns over the indebted property sector in top consumer China countered optimism out of rising stimulus. In the context of the Australian economic landscape, EBC Forex Market Analysis emphasizes the impact of global factors, such as export demand and geopolitical considerations, on currency movements, with a focus on the Australian Dollar. The S&P/ASX 200 has found strong support around its 50 EMA. Technical indicators point to further gains, but the upcoming Fed’s meeting and the US jobs report are heightening uncertainties around the short-term direction. EBC Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment, or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.

EBC Forex Snapshot 30 Jan 2024 The dollar was range-bound on Tuesday, as traders awaited the Fed's monetary policy decision this week for clues on possible rate cuts. Markets are currently pricing in a 46.6% chance of cuts in March, dropping from 73.4% a month ago, according to the CME Group's FedWatch Tool. The dollar lost some ground against the yen. Japan's jobless rate fell to 2.4% in December, under economists' median forecast of 2.5% in a Reuters poll. The labour ministry said the ratio of effective job openings to jobseekers last year stood at 1.31 amid higher demand in the hospitality sector. EBC Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment, or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.

EBC Markets Briefing | Bull market underway as S&P 500 hits new high US stocks advanced on Monday as market participants looked ahead to this week's slew of economic data and the Fed's monetary policy meeting. All three major stock indexes advanced, with the S&P 500 closing at another record high. Having increased by more than 4% this year, the Nasdaq 100 led the gains again. This week marks the busiest slate of the earnings season, with 19% of the S&P 500 reporting earnings. Five of the "Magnificent Seven" tech companies are waiting in the wings. BlackRock on Monday raised its overall US equities view to “overweight” from “neutral,” and it sees the S&P 500's upward momentum continuing for the next six to 12 months, according to analysis from EBC Financial Research Institute. The stock market's AI-driven rally should broaden out as inflation falls further, the Fed starts to cut rates, and the market sticks to its rosy macro outlook, according to the world's largest asset manager. Strong GDP and personal consumption expenditures data have calmed fears of an imminent recession and dimmed hopes that the Fed would begin cutting interest rates as soon as March. The Nasdaq 100 sits well above the 50 EMA with a strong bullish bias, but the RSI has signaled an overbought condition. As such, buying the dip is a safer call, especially for leveraged positions. EBC Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment, or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.

Dialogue EBC：EBC's David Barrett joins Finance Magnates on Video Interview Jan 23, 2024 – David Barrett, CEO of EBC Financial Group (UK) Ltd, was interviewed by major financial media outlet Finance Magnates, shedding light on key market trends in 2024 and the tactics EBC Financial Group adopts in the highly volatile environment. In this exclusive interview, titled “A Storm passing or one in the making?”, Mr. Barrett discussed multiple topics, ranging from the global market outlook in 2024, fluctuations in gold prices and interest rates, and strategies EBC Financial Group plans to implement in the uncertain market environment. Mr. Barrett emphasised how EBC Group turns uncertainty in a volatile trading environment into a more favourable opportunity by being a trustworthy partner. It is believed that in a fast-paced and unpredictable market, having a reliable partner is crucial now more than ever. EBC Group understands the importance of providing reliable and secure services to its clients, who rely on the expertise and support of their financial partners. As market conditions continue to evolve, the group is well-positioned to seize the opportunities presented by the volatility, leveraging its extensive experience and industry knowledge to best support its clients. Barrett’s analysis and observations provide insight into the current state of the industry and valuable predictions for the future of the company. “The group is poising itself for the long term, not the short term. EBC Group is here to help, not here to exploit,” said David Barrett in the interview. “I think the rising volatility again will mean more business, but people will need to be dealing with people that they can talk to and trust, which I believe to be a big part of the ethic of what the group’s doing.” Barrett has dedicated over three decades in the industry, from tier-one banks in the old-fashioned trading rooms to establishing consultancy companies and businesses to help people grow. Currently, partnering with Chris Potts, COO of EBC Financial Group, Barrett continues to provide services to his clients in the financial industry. About EBC Financial Group EBC Financial Group, a trusted player in the global financial arena, operates with integrity and a client-focused approach, offering innovative trading services in forex, commodities and indices. In 2023, we earned Best FX Trading Platform and Best Trading Execution at the World Finance Forex Awards. Tailoring our services to the diverse needs of our clientele, we drive global growth through advanced infrastructure, swift order execution (20ms) and 24/7 customer support. Combining the proprietary features of the Private Room and Black Box with deep liquidity access, we equip serious traders with the right tools to achieve their trading objectives. Our extensive international footprint has helped us to understand and navigate the nuances of varied local markets keenly all whilst upholding integrity and ethical practices as our cornerstones. For those seeking a partner marked by dedication, a client-first philosophy, and global insights, EBC Financial Group emerges as a clear choice in the dynamic world of finance. Exceptional Brilliance Care for Every Committed Trader.