Category: Uncategorized

• Prices for US diesel in the spot market of New York harbor have risen more than 265% since President Biden took the oath of office in 2021
• Almost every region on the planet will face a diesel shortage this winter

The global diesel markets are facing a perfect storm as capacities tighten and stocks run low. If this continues, it could jeopardize critical transportation networks since industrial fuel powers ships, trucks & trains; there’s also concern about supply chains being compromised by refinery issues in response to high demand for heating homes or businesses.

The worldwide shortage of diesel will have devastating effects on the global economy, including an accelerant that will burden households and businesses. Both gasoline and diesel prices are linked to crude prices set on the global market. Due to supply constraints, diesel prices in many markets currently demand a hefty premium. 

According to the Energy Information Administration, the US now has just 25 days of diesel supply, the lowest since 2008; and while inventories are record low, the four-week rolling average of distillates supplied – a proxy for demand – increased to its highest seasonal level since 2007. 

The ban on Russian crude to Europe in December could worsen the situation. Then a ban on Russian diesel in February could unleash even more chaos for the continent. Traders are panic-hoarding Russian oil products before the bans come into effect. Earlier this year, the US halted Russian diesel shipments, which last year, it was a major supplier to the East Coast.

Winter could exacerbate problems for the Northern Hemisphere as the worst diesel squeeze in a generation could wreak havoc on the already faltering global economy. 

It looks like volatility is set to remain in the equity markets as traders (and algos) are constantly searching for news regarding geopolitical tensions in Eastern Europe.

Tensions Remain but Might Be Improving

During their Sunday phone call, Ukraine’s President Volodymyr Zelensky asked US Preident Joe Biden to visit Kyiv in person amid continuing White House claims that a Russian invasion is set to happen “any day” now.

Saying that major Ukrainian cities are “under safe protection,” Zelensky suggested that a visit of the US president in person would stop the spread of panic and prevent escalation. 

“I am convinced that your visit to Kyiv in the coming days… would be a powerful signal and help stabilize the situation,” Zelensky was quoted as saying in the call

Russian foreign minister Sergey Lavrov addressed the press alongside Russian President Vladimir Putin on Monday, easing investor nerves of an “imminent” invasion.

Initially, Lavrov said NATO is trying to dictate rules in Europe, and Russia is not satisfied with the US view on the alliance’s expansion. He then added that Russia’s proposals should be considered as a whole.

However, shortly after, Lavrov said he still supports continuing diplomatic talks with the west regarding whether “there was a chance for agreement” on critical issues. He can see a way to move forward with talks. To that proposal, Putin responded, “all right,” sending all risk assets sharply higher.

Lastly, Ukraine’s President Zelensky, in his Monday evening address to the nation, emphasized that the current crisis with Russia would be solved through negotiations. “Ukraine seeks peace and wants to deal with all issues only through negotiations.”

Should the situation de-escalate, it might be a strong bullish signal for US equities.

Fed to Increase Rates in March

On the other hand, a de-escalation could confirm the current hawkish path of the Federal Reserve (Fed), with six rate hikes currently priced in. On Monday, St. Louis Fed’s Jim Bullard reiterated his hawkish stance, saying the Fed must reassure people it will defend its inflation target (in the 2.0 – 2.5% range). Additionally, he said he is worried that the central bank is not moving fast enough. Therefore, he still supports a 50 bps rate hike in March.

Technically speaking, the next support for the SP500 index should be at previous lows in the 4,250/70 USD area. We might see a medium-term correction toward 4,000 USD if that level is broken down. 

Alternatively, the resistance is now seen at the 200-day moving average (the green line) near 4,465 USD. Jumping above would likely improve the short-term outlook to bullish.

Apple has relisted the popular trading apps MetaTrader4 and MetaTrader5 on its AppStore after a six-month delisting. This means that iOS users can once again download the two trading platforms and that existing users will receive updates.

The relisting follows a lengthy negotiation process between MetaQuotes, the Cyprus-based software company behind the apps, and Apple. MetaQuotes was required to provide detailed explanations on operational technicalities and other requested insights to satisfy Apple’s requirements.

• MetaTrader4 and MetaTrader5 are leading third-party trading platforms in the retail forex and contracts for differences (CFDs) trading industry, with a total market share of 83.8% as of the end of Q2 2022, according to Finance Magnates Intelligence.

• The delisting last September came as a surprise to many in the industry, with no proper explanation given by Apple for the move. However, industry insiders speculated that the company was concerned about the use of the apps by offshore-based fraudsters.

• The delisting forced MetaQuotes to focus on its web-based mobile platform, and the company launched a new MT5 web terminal last November, highlighting that there was no need to download a mobile app from the Apple App Store or Google Play.

Despite the setback, MetaQuotes has continued to innovate, recently launching a messaging app with financial news and analytics tips for traders. The company also offers a “Tradays Forex Calendar” on the AppStore and five applications on Google Play, including the two trading platforms and an app that shows the current US dollars/Colombian pesos exchange rate with historical price data.

The relisting of the popular trading apps on Apple’s AppStore is a welcome development for MetaQuotes and its users. It will enable iOS users to continue using popular trading platforms and benefit from the latest updates and features.

HFM, a global multi-asset broker, has made an intriguing advancement by introducing Kate, its virtual analyst. For HFM, the purpose of introducing Kate is to assist traders in staying updated with significant market trends and facilitating them in making well-informed trading choices.

Kate, the AI avatar created by HFM, possesses the remarkable capacity to converse fluently in over 120 languages and accents. In addition to its lifelike appearance, Kate serves as an extra source for HFM clients to obtain insights about the worldwide financial markets and enables them to stay ahead of the game. This tool is a valuable asset for HFM with its main purpose that for training, how-to, and product marketing videos.

An HFM representative expressed their enthusiasm for the virtual analyst, stating how thrilled they are to connect with the global clientele through this interactive, enjoyable, and captivating medium. He noted that their main objective is to enhance accessibility to the financial markets for the broker’s current and potential clients. To achieve this they want to provide the traders with an immersive trading experience and this time they aim to do so with the assistance of their virtual analyst, Kate.

As such, HFM views the implementation of AI in its services, as a significant and favorable advancement that can provide traders with an immersive trading experience and enhance their trading abilities. This technology not only enables HFM to gain deeper insights into their clients’ needs and develop more empathetic interactions but also enhances communication and increases client satisfaction and loyalty. Overall, HFM considers this integration of AI to be a valuable development that can benefit both the company and its clients.

About HFM

HF Markets Group, operating under the brand name HFM, previously known as HotForex, is a globally recognized multi-asset broker, serving over 3.5 million live accounts worldwide, and has received over 60 industry awards over the past twelve years. The company provides a range of account types, innovative products, platforms, tools, and educational resources, along with exceptional customer service and unmatched trading conditions, to support individuals and institutional customers in their online Forex and CFD trading activities.

Eightcap, a well-known global FX and CFD services provider based in Melbourne, Australia, has recently introduced an innovative tool for its clients: an economic calendar powered by AI. Developed in collaboration with Acuity, the calendar offers a comprehensive overview of more than 1000 macroeconomic events, sorted by their potential impact on the market. This tool aims to help traders manage market volatility triggered by economic events more efficiently and make good trading decisions.

The new economic calendar introduced by Eightcap differs from traditional calendars as it offers a range of unique features providing valuable insights into the market’s reaction to economic events. Not only does it give an overview of upcoming macroeconomic events, but it also explains the reason behind the event’s impact and how the market will react.

The CEO of Eightcap, Alex Howard, believes that the new AI-powered economic calendar will offer clients a powerful new tool to stay ahead of the fast-moving markets. He also emphasizes that Eightcap is committed to providing a wide range of tools and educational resources to enhance its clients’ trading experience, enabling them to make smarter trading decisions.

With the new economic calendar, traders can leverage AI-powered advanced filtering to identify potential trading opportunities across 100+ countries and 1000+ macroeconomic events. The filtering technology utilizes bright and bold elements to highlight events with high, medium, and low-impact levels, helping traders prioritize their attention and focus on the most relevant events.

Andrew Lane, CEO of Acuity Trading, expressed enthusiasm for their partnership with Eightcap, a prominent online broker in the industry. He highlighted the potential to expand their reach and provide more traders with access to their powerful AI-based tools.

The new economic calendar will be available to all Eightcap clients and can be accessed via the Eightcap client portal. Additionally, traders can conveniently run the economic calendar as an EA tab on the MT4 or MT5 research terminal. This integration allows traders to access news, sentiment data, and other features within the same window, enhancing their user experience and enabling them to make more informed trading decisions.

About Eightcap

Eightcap is a top-tier derivatives provider established in Melbourne, Australia in 2009. The company offers its clients a diverse range of financial markets to trade on, including Forex, Indices, Shares, Commodities, and Cryptocurrency CFDs. Eightcap is authorized and regulated by several prominent financial regulatory bodies, including the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Securities Commission of The Bahamas (SCB).

The company is committed to providing its clients with the best possible trading experience and continually strives to improve its platform. The partnership with Acuity Trading is a testament to this commitment, as it enables Eightcap to offer cutting-edge tools and resources to its clients.

For more information about Eightcap or the economic calendar, please see here.

We are excited to announce that Orbex has received the “Most Transparent Forex Broker, 2023” award at the Fintech & Crypto Summit in Bahrain. This recognition highlights the company’s dedication to compliance, regulation, and transparency, which are essential qualities in the financial services industry.

The Fintech & Crypto Summit Awards acknowledges the achievements of well-known companies in the financial services and cryptocurrency sectors. The award ceremony was held at the Crown Plaza Bahrain Hotel on February 16, 2023, following the conclusion of this year’s summit. Orbex, an important exhibitor and Diamond sponsor at the event, showcased its latest trading services and business prospects at booth 7.

Based on information provided on their website, Orbex adheres to stringent regulatory guidelines and implements complete transparency to offer traders a secure and risk-free trading environment. Since it was founded in 2011, Orbex has dedicated itself to providing traders with an outstanding trading experience via a regulated trading environment. Mohammed Al-Mariri, the Head of Training and Market Strategy at Orbex, received the “Most Transparent Forex Broker, 2023” award in person and shared his thoughts on the achievement:

“We are delighted to receive this award, which recognizes our unwavering commitment to transparency and regulatory compliance. At Orbex, we uphold the highest regulatory standards in every jurisdiction where we operate, without compromising our clients’ experience, and striving to set the benchmark for excellent service.”

This latest award adds to a list of honors that Orbex received in 2022, including “Best FX Educational Broker MENA 2022” and “Best FX Research & Education Provider 2022”.

About

Orbex is a leading global investment services firm that provides top-rated forex and CFD trading services at highly competitive rates. Since its establishment in 2011, Orbex has been dedicated to offering its clients access to top-notch trading and investment solutions supported by quality education, expert research tools, and ongoing assistance to navigate the world’s financial markets.