How To Use Facebook’s Prophet Forecasting Algorithm in Trading?

Facebook released its Prophet Forecasting Algorithm to the public in March of this year.
Facebook Prophet Algorithm is a robust algorithm that is being internally used by Facebook team.
This algorithm is available to the public as an API in both R as w…

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(22 JULY 2017)The week ahead: EM central banks meet

It’s monetary policy time!

After the ECB’s meeting on 20 July, next week will see the FOMC convening on Tuesday/Wednesday – a meeting without a scheduled press conference, which reduces the chance for a significant policy change. CIO only expects the Fed to hike interest rates later this year and eventually begin a reduction of its balance sheet. But the meeting will be closely monitored for hints regarding the timing and design, especially amid the backdrop of lackluster inflation.

In emerging markets, central bank meetings will take place in Brazil, Turkey, and Russia. In Brazil, market observers expect another policy rate cut by 100bps to 9.25 percent amid declining inflation. Since the beginning of the year, monetary policy has tightened significantly in Turkey and CIO expects the central bank to maintain a hawkish policy stance amid elevated inflation.

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Forex Forecast for EURUSD, GBPUSD, USDJPY and USDCHF for 24 – 28 July 2017

First, a review of last week’s forecast:

 

– The main view on EUR/USD was that it would break through1.1500 and grow to the 2016 high at 1.1615. The next target would then be the maximum of August 2015: 1.1715. The main impetus for the pair’s upswing was given by the head of the ECB Mario Draghi, who said on Thursday that the euro zone stimulus program (QE) will not end and will remain unchanged. Against the background of these comments, the euro’s exchange rate against the dollar jumped by 0.5%, and the pair reached the height of 1.1680 by the end of the week session;

– As for GBP/USD, the forecast ended up being 100%. Accurate. Recall that the vast majority of experts, supported by one third of oscillators, were confident that the upward impulse of the pair had dried up, and it was expected to decline first to 1.3000, and then even lower. As a result, the pair dropped to 1.2930, then rebounded and finished the week at the level of 1.2994;

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Forex Forecast for EURUSD, GBPUSD, USDJPY and USDCHF for 24 – 28 July 2017

First, a review of last week’s forecast:

 

– The main view on EUR/USD was that it would break through1.1500 and grow to the 2016 high at 1.1615. The next target would then be the maximum of August 2015: 1.1715. The main impetus for the pair’s upswing was given by the head of the ECB Mario Draghi, who said on Thursday that the euro zone stimulus program (QE) will not end and will remain unchanged. Against the background of these comments, the euro’s exchange rate against the dollar jumped by 0.5%, and the pair reached the height of 1.1680 by the end of the week session;

– As for GBP/USD, the forecast ended up being 100%. Accurate. Recall that the vast majority of experts, supported by one third of oscillators, were confident that the upward impulse of the pair had dried up, and it was expected to decline first to 1.3000, and then even lower. As a result, the pair dropped to 1.2930, then rebounded and finished the week at the level of 1.2994;

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EUR/USD holds on to small gains above 1.16 amid a lack of catalysts

After refreshing its highest level since late August of 2015 at 1.1677 during the early trading hours of the European session, the EUR/USD pair went into a consolidation phase and retraced majority of its daily gains. At the moment, the pair …

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(21 JULY 2017)DAILY MARKET BRIEF 2:Buy high-beta emerging-market currencies such as Indonesian rupiah

As was widely expected the Bank of Indonesia held its key 7day repo rate at 4.75%. Yet the overall effect and tone was slightly dovish. The decision was based on the central banks effort to keep a balanced approach between supporting recovering economi…

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(21 JULY 2017)DAILY MARKET BRIEF 1:European Central Bank tries to restrain the EUR/USD, but it won’t work

Unsurprisingly the European central bank has held its rates steady yesterday at 0% for 17th consecutive month. The ECB meeting took place against a backdrop of strengthening of the single currency. The EURUSD pair has reached 1.16 for the first time in…

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