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Sunday, 25 February 05:40 (GMT -05:00)



Foreign exchange market

Forex GBP/USD: Record Low Budgetary Deficit in Great Britain Makes Dollar Weaker


“The Great Britain shows improvement in the sphere of finance,” says the official report. According to analysts, this improvement is connected exclusively with economical growth and realization of austerity programs.

 

Net borrowing of the budget without loans of national banks has amounted to 9.4 bln. pounds sterling in September. In comparison to September 2014, the result has dropped by 1.6 bln. From the point of view of current financial year, the budgetary deficit has amounted to 46.3 bln. pounds sterling, which is 7.5 bln. less than during the same period last financial year.

 

 

Experts of Masterforex-V Academy suppose that budgetary deficit in the Great Britain is reducing, first of all, due to economic growth, accompanied by record growth of tax revenues from business and citizens. In September the revenue side of the budget has amounted to 47.5 bln. pounds sterling, which is 3.9% more than one year ago. Such growth has been achieved owing to increase of incomings from profit tax by 4.1% (to 11.4 bln. pounds sterling) and corporate taxes by 12.7% (to 2.5 bln. pounds sterling).

 

 

At the same time, growth of expenses was 4 times smaller, namely 1%. Despite increase of expenses, austerity programs, held by the Head of UK Treasury Osborne, are realized. Reduction of a number of authorities is expected. The legislative body has also confirmed the Governmental Statute on Budgetary Responsibility, which aims to achieve budget surplus by 2020.

 

Meanwhile, pound sterling has entered correction to mid-term up-trend. "GBP/USD currency pair is forming up-wave A/B of not less than Daily level," say experts of Masterforex-V Trading System . On 22 October 2015 the pair has formed a rising subwave b(С). The current wave will be over when pivot MF 1.5201 and lines of rising sloping channel MF are broken. Breaking a local maximum 1.5508 will continue the current wave. Major resistance is provided by pivot MF 1.5656 and descending sloping channel MF.

 

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You are free to discuss this article here:   forum for traders and investors

 

Text: Eduard Culchenko, expert of Masterforex-V Trading System
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Bitcoin Exchange Rate Drops Below $9000

Earlier today, the BTC exchange rate continued its way down to new local lows. In particular, it temporarily dove below the psychological threshold of 9000 dollars per 1 BTC. According to Coinmarketcap, the current local low is 8720 USD/BTC.

Publication date: 02 February 03:41 AM

Skeptics Predict Bitcoin Crash

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Publication date: 26 January 03:51 AM

Muslims Are Forbidden to Trade and Mine Bitcoin

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Publication date: 12 January 03:19 AM

Alpari’s Mobile App Gets Over 400K Users

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Publication date: 03 January 07:06 AM

Bitcoin Harms Natural Environment

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Publication date: 02 January 11:43 AM

Bitcoin May Trigger Another Major Financial Crisis

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Publication date: 02 January 11:42 AM

Fort Financial Services ¬– World’s Best Forex Bonus Offer 2017

Masteforex-V Academy has recently announced the results of the annual contest named «World’s Best Forex Bonus Offer 2017». Fort Financial Services won the title as the forex broker occupying the first position in the corresponding rating by Masterforex-V Academy.

Publication date: 28 December 09:28 PM

Bitcoin Exchange Rate May Drop to Zero, Morgan Stanley Experts Say

Bitcoin may drop all the way down to zero dollars. This is what Morgan Stanley analysts led by James Faucette told Business Insider. Such a gloomy forecast for the world’s first and most expensive cryptocurrency to date showed up amid another major drop in its exchange rate. The thing is that Bitcoin dropped by 40% from 19K dollars all the way down to 11,8K dollars on December 22nd. 

Publication date: 26 December 12:21 PM

Bitcoin is Yet to Win Major Investors’ Trust

The first Bitcoin futures were finally launched in the USA. However, despite the fact that cryptocurrencies have already been recognized a part of the financial world, skeptics still don’t believe in them and anticipate a cryptocurrency market crash. 

Publication date: 25 December 05:49 AM

Alpari PAMM Service Gets Its Monthly Turnover Exceed $15 Billion

Most people prefer to keep their savings in a bank. They believe that despite those tiny interest rates they get paid, storing money in a bank account is way safer than anything else. The point is, we are talking about storing money while it’s wiser to invest money so that it could make even more money. For example, Europeans like to consider investing their money in various kinds of assets. They further spend their profits on some big purchases or education for their kids.

Publication date: 21 December 03:17 AM