The upcoming week will bring much anticipation for the financial community as the Reserve Bank of Australia (RBA) is set to announce its latest monetary policy decision. The central bank has been on a streak of consecutive rate hikes, but speculation has been brewing about whether or not it will continue this trend. 

With the economy showing signs of growth and inflation pressures on the rise, many are asking: will the RBA raise rates this month?

Here are the key market events for the week ahead:

RBA Rate Statement (7 February)

The RBA raised the cash rate by 25bps to 3.1% in its last meeting of 2022, its eighth consecutive hike. 

Analysts anticipate RBA to increase rates by 20bps to 3.3% this month.

UK Monthly Gross Domestic Product (GDP) (10 February)

The British economy saw a growth of 0.1% in November, a decrease from October’s 0.5%. 

Analysts predict a 0.1% decrease in the UK (GDP) for December 2022. 

Canada Employment Change (10 February)

The Canadian economy saw the creation of 104,000 jobs in December 2022, with an unemployment rate of 5%, the lowest since hitting a record-low of 4.9% in June and July. The unemployment rate dropped from 5.1% in November. 

Analysts forecast a smaller increase of 15,000 jobs in January and a slightly higher unemployment rate of 5.2%.

US Prelim University of Michigan Consumer Sentiment (10 February)

The University of Michigan consumer sentiment for the US was revised upward to 64.9 in January 2023, the highest it has been since April 2022, from a preliminary reading of 64.6. 

Analysts anticipate the data to be around 65 for this month.

Dear Client,

Warmly reminds you that the component stocks in the stock index spot generate dividends. When dividends are distributed, VT Markets will make dividends and deductions for the clients who hold the trading products after the close of the day before the ex-dividend date.

Indices dividends will not be paid/charged as an inclusion along with the swap component. It will be executed separately through a balance statement directly to your trading account, the comment for which will be in the following format “Div & Product Name & Net Volume ”.

Please note the specific adjustments as follows:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact cs@vtmarkets.com.

The US jobs data and rate statements from the Bank of England (BoE) and the European Central Bank (ECB) are currently the focus of attention for many market participants. These announcements have the potential to significantly impact global financial markets, as they provide insights into the health of the respective economies and monetary policy decisions. 

With traders, investors, and economists eagerly awaiting these updates, the release of these data points is sure to cause market volatility.

Here are the key events for the week ahead:

Canada Gross Domestic Product m/m (31 January)

Canada’s economy grew 0.1% in October 2022, surpassing the earlier estimate of no growth. This marks a slowdown from the previous month’s 0.2% growth.

Experts predict no change in Canada’s economy in December 2022, forecasting 0% growth from November.

US ADP Non-Farm Employment Change (1 February)

The US private sector added 235,000 jobs in December 2022, surpassing November’s figure of 182,000. However, January is predicted to see a decline with only an additional 131,000 new jobs.

US ISM Manufacturing PMI (1 February)

The US ISM Manufacturing PMI declined to 48.4 in December 2022, marking the second consecutive month of contraction. This shift in spending from goods to services caused the decline. 

For January, analysts predict a PMI of 48.

FOMC Meeting and Rate Decision (1 February)

During the final Federal Open Market Committee (FOMC) meeting in December 2022, the US Fed increased the fed funds rate by 50bps to 4.25%-4.5%. Analysts predict a similar increase of 50bps this month.

BoE Monetary Policy Report (2 February)

At its December 2022 meeting, the BoE raised interest rates by 50bps to 3.5% with a 6-3 vote. This decision was made to control inflation and counteract concerns of an impending recession. Analysts anticipate the BoE will make another 50bps increase in this meeting.

ECB Monetary Policy Statement (2 February)

The ECB plans to raise interest rates by 50bps in February and March, with additional increases to follow. Analysts predict another 50bps increase this month.

US Non-Farm Employment Change (3 February)

In December 2022, the US economy experienced job growth of 223,000, the lowest since December 2020. The unemployment rate decreased to 3.5%. 

For January, analysts anticipate job growth of 175,000 and a slightly higher unemployment rate of 3.6%.

US ISM Services PMI (3 February)

In December 2022, the US ISM Services PMI dropped from 56.5 in November to 49.6. Analysts expect the PMI to remain in the 49-50 range this month.

Dear Client,

Warmly reminds you that the component stocks in the stock index spot generate dividends. When dividends are distributed, VT Markets will make dividends and deductions for the clients who hold the trading products after the close of the day before the ex-dividend date.

Indices dividends will not be paid/charged as an inclusion along with the swap component. It will be executed separately through a balance statement directly to your trading account, the comment for which will be in the following format “Div & Product Name & Net Volume ”.

Please note the specific adjustments as follows:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact cs@vtmarkets.com

VT Markets, a next-generation multi-asset broker, has announced a brief roadmap of its plans for the year ahead. The broker has revealed an impressive lineup of strategies that aim to expand its market access, bolster its brand presence and improve clients’ trading efficiency.

An initiative clients are especially looking forward to is the exclusive 1:1000 leverage ratio for gold and forex products. Such an offer is unique only to VT Markets’ clients within the SEA region, and this will allow traders to have further control and flexibility over their investments. 

With the recent upgrade of the VT Markets App, traders can easily access 1000+ assets with high speed, transparency and fund safety. The new built-in features enable traders to monitor the financial markets on-the-go and in real-time, and execute trades with ease. The broker also has a strategic plan in place to partner with TradingView and Acuity to offer better services to its global clientele. By further tapping on innovative technologies, utilising advanced trading features and maintaining stringent safety protocols, VT Markets has all the necessary tools available to help traders maximise their profits while minimising risk. 

In order to bolster its brand presence, VT Markets has plans to revamp its websites and social media channels to maximise user experience. Apart from uplifting the brand’s image, such a move will also provide customers better access to stay informed about all things trading – from news to offerings, and promotions.

On a whole, the international broker has set its sights on further growth, by expanding its operations and achieving greater market penetration on a global scale. VT Markets is actively hiring personnel to ensure sufficient resources are available for all areas of operation throughout the different offices. 

VT Markets maintains an optimistic outlook for 2023, and are confident that its growth this year will surpass that of 2022. A representative of VT Markets said, “Despite the expected global recession in 2023, we are forecasting that our trading volume and the total number of traders will grow by at least 100%. With our bold strategies and expansion plans, we’re confident of maintaining our position at the forefront of the financial industry and setting the standard for others.”

About the Company:

VT Markets is a regulated multi-asset broker with a presence in over 160 countries. The broker has won many international accolades including Best Customer Service and Fastest Growing Broker. Its mission is to make trading an easy, accessible, and seamless experience for everyone.

Markets will focus on the US Gross Domestic Products (GDP) report and the Bank of Canada (BoC) interest rate decision this week.

Analysts have various predictions for the GDP reading in the US for Q4 of 2022 after the economy grew an annualised 3.2% in Q3.

Meanwhile, the Bank of Canada (BoC) raised its interest rates by 50bps to 4.25% at its last meeting in 2022. Will BoC continue to raise interest rates? 

Here are the market events to keep an eye on this week:

EU, UK and US Flash Services PMI (24 January)

Flash Services PMI readings for December 2022 in the EU and the UK were 49.8 and 49.9 respectively, higher than in November. Meanwhile, Flash Services PMI in the US was 44.7 in December, much lower than its previous month’s reading.

Analysts expect Flash Services PMI in the EU, UK and US will rise slightly in January.

Flash Manufacturing PMI (24 January)

The Flash Manufacturing PMI in the EU was 47.8 in December 2022, higher than in November. The reading for the UK came at 45.3 and the US at 46.2, lower than in November.

Analysts expect the EU and UK Flash Manufacturing PMI readings to be slightly higher this month. They also predict that the US reading will be lower.

New Zealand and Australia CPI (25 January)

The Consumer Price Index (CPI) rose by 1.8% in Australia in Q3 2022, while it increased by 2.2% in New Zealand.

Analysts expect that for Q4 2022, New Zealand’s CPI will decrease by 1.9% while Australia’s will decrease by 1.5%.

Bank of Canada Monetary Policy Statement (25 January)

The Bank of Canada’s target for its overnight rate was raised by 50bps to 4.25% at its last meeting in 2022. The bank also noted that it was continuing its policy of quantitative tightening and that economic growth remains strong, but it will slow through the end of this year and into early 2023.

Analysts expect BoC to raise its interest rates by 25bps to 4.5% at its next meeting.

US Quarterly Gross Domestic Products (Adv) (26 January)

In Q3 of 2022, the US economy grew an annualised 3.2%, better than the 2.9% in the second estimate and rebounding from two straight quarters of contraction.

Analysts have various predictions for Q4 and expect the GDP reading to decrease by 1.2% to 2.8%.

US Quarterly Core PCE Price Index (27 January)

The Core PCE price index for the US increased 4.7% quarter-on-quarter in Q3 of 2022, the same rate as in the previous quarter.

Analysts expect that core PCE prices will fall by 3.9% in Q4.

Dear Client,

Warmly reminds you that the component stocks in the stock index spot generate dividends. When dividends are distributed, VT Markets will make dividends and deductions for the clients who hold the trading products after the close of the day before the ex-dividend date.

Indices dividends will not be paid/charged as an inclusion along with the swap component. It will be executed separately through a balance statement directly to your trading account, the comment for which will be in the following format “Div & Product Name & Net Volume ”.

Please note the specific adjustments as follows:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact cs@vtmarkets.com

The market will focus on US Producer Price Index (PPI) and Retail Sales data after last week’s US Consumer Price Index (CPI) came out as forecasted. 

Meanwhile, the Bank of Japan (BoJ) will be making its Monetary Policy Statement on 18 January. The BOJ is widely expected to keep interest rates in the negative territory.

Here are this week’s key events:

UK Claimant Count Change (17 January)

The UK saw a rise of 30,500 people claiming unemployment benefits in November 2022.

Analysts expect December’s data to be lower than November’s reading at 19,800.

Canada Consumer Price Index (17 January)

In November 2022, the CPI in Canada increased by 0.1% from the previous month. This was slower than the 0.7% increase in October.

December’s CPI reading is forecast to be higher by 0.3%.

US NY Empire State Manufacturing Index (17 January)

The New York Empire State Manufacturing Index declined 16 points from November to -11.2 in December 2022, its steepest drop since August and below market expectations of -1.

Analysts expect a sharp improvement in January but still a negative reading at -4.5.

Bank of Japan Monetary Policy Statement (18 January 2022)

The Bank of Japan shocked markets on December 20 when it widened the range around its 10-year yield target, allowing long-term rates to rise while keeping its interest rate steady at -0.1%.

BoJ is forecast to keep its interest rate in the negative territory.

UK Consumer Price Index (18 January)

The UK’s CPI increased 0.40% in November 2022 from October, the smallest increase since January of that year.

Analysts expect an increase of another 0.40% in December and could show a rise of 11.1% in the UK’s annual inflation reading.

US Retail Sales (18 January)

The US retail sales index fell 0.6% month-on-month in November of 2022, worse than market forecasts of a 0.1% fall.

Analysts expect December’s retail sales data to fall by 0.5%.

US Producer Price Index (18 January)

In November 2022, the US PPI for final demand increased by 0.3% month-on-month, matching October’s figures.

Analysts expect December’s reading to remain unchanged from November or decrease by 0.1%.

Dear Client,

Warmly reminds you that the component stocks in the stock index spot generate dividends. When dividends are distributed, VT Markets will make dividends and deductions for the clients who hold the trading products after the close of the day before the ex-dividend date.

Indices dividends will not be paid/charged as an inclusion along with the swap component. It will be executed separately through a balance statement directly to your trading account, the comment for which will be in the following format “Div & Product Name & Net Volume ”.

Please note the specific adjustments as follows:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact cs@vtmarkets.com.

Forex trading involves development and growth — it’s about increasing your understanding and becoming more confident as a trader. But this can be difficult to achieve without the right software to assist you. You need software that will help you practise making moves — and mistakes — without punishing you. You need a solution that allows you to learn how to trade forex without the added pressure of capital risk. 

This is what the demo account of MetaTrader 4 is all about. This demo MT4 account allows you to practise trades and develop practical skills without putting any real money forward. There’s no potential profit, but there’s nothing to lose, either!

Understanding MetaTrader 4’s different options

What’s the difference between the live account and the MetaTrader demo account? Take a look below.

The MetaTrader 4 live account

MetaTrader 4’s live account is the full version of the platform. This is where you’ll put forward portions of your own capital reserves to make trades and open positions in the forex market. You’ll be able to speculate on whether you think your chosen currency pair will increase or decrease in value — open a buying position on pairs you believe will rise and open a selling position on those you think will fall.

When you close your position, success or failure depends on the final market performance of the pair. So, you will take your profit if your predictions are right and absorb your losses if the market goes the other way. This is where the risk factor of the forex market comes into play — profits are never guaranteed during trading, and it takes experience and understanding to develop more reliable strategies. Even traders with this experience may sometimes find that the market doesn’t move as they intended it to.

The demo MT4 account

The demo version of MT4 allows players to build this experience without the risk of losing capital. Working with a reserve of virtual funds — not real capital — you’ll be able to make trades on forex pairs and test your strategy ahead of real-life trades. 

Choose from a range of different markets and utilise the intuitive dashboard to analyse the market’s direction. Then, get used to the mechanisms of opening and closing trades. It’s highly recommended that you use the MT4 demo account before getting started in the real market.

The benefits of using the MetaTrader 4 demo account

Why use MT4 demo accounts? Why not just get straight into trading on the full version of the platform? Well, there are many reasons why a more measured and careful course of incremental growth is better than jumping in at the deep end. A sink-or-swim approach might work for some things, but forex trading is not one of them — the stakes are simply too high in this environment.

Let’s take a look at the advantages of the MetaTrader demo account, exploring all the benefits of using this demo account for MT4 before you step your trading strategy up a gear.

Learn vital skills without the risk

Trading on the forex market can be difficult. Gaining the skills necessary to trade confidently will always take time and experience. Of course, in a fast-paced trading environment like the foreign exchange market, gaining this time and experience is not easy without exposing yourself to considerable risk. This is where the demo account can make all the difference.

You’ll be able to take all the time you need, opening and closing positions and gaining genuine experience in the market. As you build your confidence, you’ll find yourself better equipped to make trades. This, in turn, will prepare you for graduating from the demo MetaTrader 4 account to the full live version. There will still be risks, but you will have the skills required to navigate these risks carefully and deliberately.

Practice with a full suite of tools

One of the best things about the MT4 demo is its comprehensive nature. MetaTrader 4 is an expansive and highly capable platform packed with tools and features that help traders open and keep track of positions while conducting advanced market analysis. This kind of data-driven approach is critical to developing a trading strategy, allowing traders to forecast the future performance of forex pairs. With the MetaTrader 4 demo, you have all this capability at your fingertips.

Tools like stop-loss and take-profit mean you can keep your trade within sustainable parameters. Meanwhile, indicators such as moving averages (MAs) and Relative Strength Indices (RSIs) assist you as you derive even more insight and understanding from the platform. A range of different view configurations is critical as you leverage the MT4 dashboard quickly and without delay. You can rest assured that all of this — and more — are included in the demo version of the MT4 platform, so you can spend time getting to know how you will incorporate all of this into your strategy.

In addition, you’ll be able to work with various add-ons that provide flexibility and personalisation to the MT4 trading experience. These include the alarm manager — a useful feature that enables customised alarms and alerts that keep you informed of the latest movements even outside of the platform, harnessing SMS and email integration. The mini terminal is another useful MT4 feature found on the platform’s demo version. This is where you’ll gain quick, one-click access to various trading functions and data points, streamlining how you use the solution.

Understand real forex market mechanics

The forex market is subject to the forces of supply and demand. When supply increases but demand falls, the currency’s price also falls. When demand increases and supply falls, the price moves in the opposite direction. A wealth of different geopolitical and economic factors will influence this, giving us a highly complex set of market dynamics that traders will need to get to grips with as they develop their future strategies.

In this sense, the demo version of MT4 works just the same way as the live version. When you view the MT4 dashboard, you’ll witness all of these market movements, examining the movements of forex pairs in real-time. You’ll see how prices shift at times of high trading volumes, and you’ll begin to develop the kind of tactics and trading schedule that will become core to your strategy moving forward. Simply put, the MetaTrader 4 demo gives you everything you can expect from the full account without the potential for profit and loss.

Road-test your strategies

Let’s say you have been trading forex for a little while and don’t need further learning or development. Is the demo MT4 account worth it? Yes. If you have an idea for a new strategy, for example, or a new plan of action you want to try out, it’s probably not a good idea to experiment with this on the live account.

Instead, use the demo version. Experiment with different tactics and strategic moves until you are confident that you have developed a coherent and potentially successful plan. Then you can deploy this plan in the live environment — there will still be a risk that the strategy doesn’t work, but you will have given yourself a better chance of success.

Hone your timing

For short-term trades in particular, timing is everything. The market can move very quickly, which means a delay of just a few seconds can result in a significant price movement on a scalping trade. You’ll need to get used to executing trades with zero delays and latency.

MetaTrader 4 is certainly well-equipped to achieve this, but you need to get used to making those rapid moves whenever you need to. This is where honing your approach on the demo account of MT4 is so important. Minimise those delays and achieve agile opening and closing before you start trading with real money.

Get started with the MetaTrader 4 demo at VT Markets

Here at VT Markets, we want to give our users the tools they need to develop their own forex trading strategy. This means offering powerful features that enable traders to open and close positions without delay while gathering the data they need to make their next move. 

In addition, we offer the demo version of the MT4 platform, allowing you to grow your skills in a risk-free environment. Set up your demo account and move on to a live account when ready. Want to discover more about trading with VT Markets and MT4? Reach out to our team today.