October Issue
What's New in FXCM?
This month, we introduce our latest products, share our new Q4 Trading Outlook, and give you a quick preview of the upcoming earnings releases. And that’s not all! Read on for all the details.
We are also delighted to announce that we have been awarded three top accolades at the Global Forex Awards 2022 - Retail: ‘Most Transparent Forex Broker Globally’, ‘Best Forex Trading Experience in Europe’ and ‘Best Forex Trading Platform in MENA’. This is a huge honour and a real testament to how hard we strive for excellence in everything we do. THANK YOU everyone who voted for us!
Thank you for trading with us and we hope you enjoy reading the October edition of our newsletter!
Photo of Francis Conlon (Head of Brokerage & Executive Director of FXCM EU LTD) and Eleni Siouti (CEO & Executive Director of FXCM EU LTD) at Global Forex Awards 2022.
Market Updates
Inflation continues to worry the Fed, with its preferred measure, core PCE, coming in higher than expected for August. It printed at 4.9% YoY versus 4.7% YoY in July. Moreover, the NFP was also higher than anticipated coming in at 263K (248K - expected). Given these upside surprises, the market has priced in an 80% probability for a 75bps increase in November.
However, there is a variable that needs watching. The weekly RSI for the real yield is overbought. That is likely to normalise at some stage and may lead to countertrend rallies. If this happens, we think it is a temporary correction until more moderation from the inflation data.
In the Spotlight
EUR/USD
A higher real rate is likely to support the USD. As such, EURUSD remains on our watchlist. Its trend remains weak, and market shorts may target any strength.
NAS100
The NAS100 is a growth index. It is susceptible to interest rate movements due to its time value of money characteristics. As the yield story unfolds, the NAS100 will likely respond due to this sensitivity.
GOLD
Our previous newsletter suggested that the 1,700 level was critical support for gold. The precious metal breached this level and is now likely to act as resistance. Rates are still a market driver and should continue to serve as a headwind. As such, resistance levels will be compelling levels to watch.
New Products
We’ve added 3 new Commodity Futures!
We proudly share that this month we have expanded our Commodity Futures offering with the addition of 3 new CFD instruments.
- Gasoline Futures
Gasoline, the primary fuel of most automobiles, is one of the most important byproduct of crude oil, and its futures product offers traders a way of speculating/hedging the price movements. - Heating Oil Futures
Heating Oil is one of the most important byproduct of crude oil, which is used for heating homes. Its price is affected by season, weather, consumptions, and also supply of Natural Gas, which is a substitute of Heating Oil for heating homes purpose. Heating Oil Futures offer traders a way of speculating/hedging the price movements. - Live Cattle Futures
Live Cattle Futures is designed for traders to hedge/speculate the price movement of market-ready cattle, which could be affected by weather, consumer incomes and other commodity prices such as soybeans and corn.
To learn more about GasolineF, HeatingOilF and LCattleF margin requirements, trading hours and expiration, read our Product Guide.
Ready to try out these new Commodity Futures?
Please note, currently these new products are only available to trade through Trading Station accounts.
Q4 2022 Trading Market Outlook
At FXCM, our senior market specialists, who have three decades of experience, regularly share their insights on global markets.
Download our latest market outlook, which focuses on the current yield curve inversion, why quantitative tightening needs more of your attention, the keys to regaining confidence in risk instruments and more.
Earnings Season Preview
Aggressive monetary tightening by the US Federal Reserve along with other factors weigh on Wall Street, which comes from another poor quarter. Against this challenging backdrop, markets gear-up for the last earnings season of the year.
Follow our Market Specialist, Nikos Tzabouras, as he provides a quick preview of the upcoming earnings releases and highlights some of the sectors and corporations that will be on his radar, focusing mainly on the US market.
Client Service Stats
We know you expect a stellar service. Take a look at the client service response times across the FXCM Group in the month of September.
Source: FXCM Service data, review period: September 2022.
2 minutes
Average time to answer your call.
2.42 seconds
Average wait time for live chat support.
Top Traded in September
Find out top traded instruments by trading volume during September 2022 across the FXCM Group.
Top 5 across all markets
| SYMBOL | |
| 1 | USD/JPY Spot FX |
| 2 | EUR/USD Spot FX |
| 3 | GBP/USD Spot FX |
| 4 | XAU/USD Spot Gold |
| 5 | US30 E-Mini Dow Futures |
Top 5 Stocks
| SYMBOL | |
| 1 | TSLA.us Tesla Motors Inc. |
| 2 | PDD.us Pinduoduo Inc. |
| 3 | AAPL.us Apple |
| 4 | BILI.us Bilibili |
| 5 | NIO.us Nio Inc. |
FXCM Group Awards
BEST ZERO COMMISSION BROKER
2022
ADVFN
BROKER OF THE YEAR
2022
Ultimate Fintech Awards
BEST FX PLATFORM
2021
Personal Wealth
BEST CUSTOMER SERVICE
2021
Ultimate Fintech Awards