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Updates and projections for the upcoming year feature all kinds of data based on the political and economic scenarios. Reviewing some of the projections and concerns raised in the latest video by Rob Booker, it is evident that in the forex trading market, several anomalies could tip the balance of the currency rate either way.
Twenty Twenty is a year that has opened up on the verge of considerable political turmoil creating a volatile market for investments, in particular, the Forex Trade. It is this turmoil and its impact on the value of three major currencies in the market that is the main focus of the Review for 2020, given by Rob Booker, recently.
According to Booker, the three major currencies that could behave unpredictably are the British Pound, the Canadian Dollar and the US Dollar. These three are the main currency pairs that attract investment. However, the profitability of investments will depend on the response of the market to the political instability and the turmoil that may or may not result as a result of three political and economic scenarios.
The main events that will have an impact on the currency pairs USD/CAD and GBP/USD are the Non-Formal Payroll Report (NFP) that is coming out in the context of the instability that may arise in the US as a result of President Trump’s impeachment, the potential for a war between USA and Iran, the Bank of Canada interest rates and Brexit.
As appropriately pointed out by Rob, the successful impeachment of the 45th President of the US by the House of Representatives has opened a trial in Senate for abuse of power and for blocking Congress, against Donald Trump. How the US economy reacts to this will become evident in the Non-Form Payroll Report (NFP), which will determine how the US Dollar trades in the Forex markets.
A second politically explosive situation is the threatened war between Iran and the US. Motivated by the airstrikes on the Iraqi airport that killed a significant Irani general, the tensions that emerged saw the Iranian head of state promising vengeance against the US. If this situation escalates, then it is evident, it would influence the value of the US dollar.
The second event, Rob, points out as key indicators of future investments is the interest rate set by the Bank of Canada. As these interest rates will determine how much money will flow freely in the market in the current scenario.
In this context, Rob Booker identified the trade between the currency pair USD/CAD is poised at a critical stage. He uses the shoulder-head analysis technique to determine the bullish-to-bearish trend reversal for the USD/CAD currency pair. The currency pair are exhibiting a traditional technical pattern, where the currency exchange is set to move potentially either showing a bearish trend down to the 1.26 level or on the other hand, the pair could climb up to the 1.34 mark, which is a climb of 500 pips and which could potentially act as a great point of resistance. Here, Booker advises a wait and watch strategy as soon as the rate climbs up to the 1.32 mark and then making a decision about securing your investment.
Finally, the third unpredictable situation that is set to create a volatile marketplace is Britain’s exit from the UK with no deal. If there is a smooth transition and confidence in the British pound remains unaffected, then there will be no effect on the currency pair USD/GBP. However, if there is some trouble or an unprecedented reaction, to Brexit, then it will affect the value of the British Pound.
The projection given by Rob Booker – how you can learn more about on the Rob Booker Trading Podcast – using the head and shoulder pattern to identify the future trend for the currency pair USD/GBP for the specified period is that if there is a strong job report and there is political instability regarding the no-deal Brexit, then the value will come down to the 1.22 mark. The counterbalance figure for this currency pair in the event of a weak job report from NFP and there is no impact resulting from the British political scenario, then the pair could go up to 1.35, and it could go on increasing for some time. However, Booker advises that investors should wait and see how it pans out in the coming weeks as there is likely to be less trade based on these currency pairs.
Analysing this information in comparison with projections made by two forex trading experts, we found that this analysis of the market for the two currency pairs USD/CAD and USD/GBP was generally held to be true and their projections of how the currencies would behave are quite similar. G10 Forex Index for 2020 predicts a bullish climb for USD/GBP to a 1.40 mark and a reversal mark at 1.29. For the USD/CAD pair targeting 1.30 as it continues its breakdown, and the risk is set at the 1.32 mark.
For a review of how the two currency pairs behaved in the first few weeks of January, we studied the data from a forex website. The 100forexbrokers.com highlighted the recent rise of the British Pound against the US Dollar by 10 points totalling it near 1.3100. However, they projected that “it may remain bearish because of the higher low printed in the recent upside move”. The price may also face a horizontal resistance around the 1.3144 and 1.3165 marks, and then the December 13, 2019 mark of 1.3514. Secondly, the support levels may help sustain its value with strong support around the 1.2919 and 1.2551 marks.
Presenting the data by 100forexbrokers.com in the analysis of the currency pair USD/CAD, the Forex market showed an increase in the price to more than 1.300. However, the website projects that this currency pair will also follow a bearish technical bias. USD/CAD current price is set at 1.3022 and the resistance levels marked near the 1.3052. The major support levels have been identified at the 1.2950 and 1.2727 point.
There is a lot of material on the internet claiming to give authentic reviews of the trading trends and markets usually accompanied by the disclaimer that history is not a predictor of future trends and most advisors analysis is based on these back trends. In any event, the data speaks quite clearly for the projections and the patterns of behavior observed. Both currencies have seen little trade, as investors have generally chosen to wait and see what happens at the political end.
Facebook-owned WhatsApp has finally started rolling out end-to-end encrypted chat backups for iOS and Android users globally. With the new update, if a user chooses to back up his chat history with end-to-end encryption, it will be accessible only to him, and no one will be able to unlock the backup. Neither WhatsApp nor the backup service provider will be able to access their end-to-end encryption backup.
"With end-to-end encrypted backups, no other messaging service at WhatsApp's scale will provide this level of security for people's messages -- from sending and transit, to receiving and storing in the cloud," the company said in a post. The feature will be rolling out "slowly" for people on the latest version of the app.
he feature will be rolling out "slowly" for people on the latest version of the app. | Photo by AARN GIRI on Unsplash
Once the feature rolls out, open WhatsApp, go to Settings > Chats > Chat Backups > End-to-End Encrypted Backup, and then follow the prompts. One can now secure their end-to-end encrypted backup with either a password of their choice or a 64-digit encryption key which means that no one else but only the user will be able to access the backup.
"This feature will provide people with more privacy and security for their digital conversations and that's a responsibility that we don't take lightly. Given this, we are rolling this out slowly to ensure a consistent and reliable user experience for people on iOS and Android around the world," the company added. (IANS/ MBI)
Keywords: encryption, encrypted, whatsapp, people, backup, End-to-end Encryption
A luxurious house makeover might seem to be an expensive and overwhelming task but it doesn't necessarily have to drill holes in your pocket. A few small changes and the right decor pieces can make a huge difference to the way your home looks. Keyur Zaveri, VP of Design at Furlenco shares some ideas that could give your home a rich look.
Simplicity is the ultimate sophistication
While it may feel intuitive to keep adding expensive decor to your home to give it the luxurious touch, in today's ageless is really more. Simplifying your space can give your home a classy look. Invest in a few accent decor pieces - a lamp, wall art, decor for a centre table that are cohesive and work well together in the theme of your room as opposed to having numerous things that do not look like they belong together. Resist the temptation to buy over-the-top accessories and unnecessary furniture, which make your home look bulky.
Resist the temptation to buy over-the-top accessories and unnecessary furniture, which make your home look bulky. | Photo by Samantha Gades on Unsplash
The most important part of creating a luxurious house is to add furniture that is comfortable and elegant. Good furniture, paired with stylish soft furnishings is the first step to creating a beautiful house. Pillows & Cushions of various sizes and accent throws can instantly make a home feel more inviting. Play around with the colours and fabrics of the furniture and find soft furnishing that complements the centrepieces. Invest in good quality fabrics like velvet, linen or suede to upholster your furniture. You can even try textured fabrics like denim blue and faux leather.
Pillows & Cushions of various sizes and accent throws can instantly make a home feel more inviting. | Photo by Sharon McCutcheon on Unsplash
Lighting can make all the difference to the vibe of your house and help you create a luxurious, beautiful looking space. Using multiple sources of light that draw attention to various corners in the house can make a space look very well put together. Invest in ceiling lamps, floor lamps, table lamps, and accent light fixtures to highlight your favourite areas in the house. While it is advisable to keep a single colour and tone of light, the intensity and direction can be played around to enhance the ambience of the space.
Lighting can make all the difference to the vibe of your house and help you create a luxurious, beautiful looking space. | Photo by Karan Nagpal on Unsplash
Layering works wonders everywhere- be it a chic coat or blazer over your outfit that adds extra charm, or adding decor pieces to your furniture for a luxe look. Carpets add splendour and exquisiteness, instantly changing the way a room looks. Area rugs under tables and sofas help in defining spaces and can blend together the whole look. Experiment with some elegant runners near your beds, on top of your dining tables, or even your bathrooms. You can also add wall coverings and window coverings for a more inclusive aesthetic.
Area rugs under tables and sofas help in defining spaces and can blend together the whole look. | Photo by Sina Saadatmand on Unsplash
You can add a small yet noticeable metallic touch to upgrade your interiors. However, you must be careful to not overdo it; the key to going bling is to keep the metallic accessories minimal. Consider golds, bronzes, copper or silver hues and incorporate them in cushions, lamps, accent walls, lighting fixtures, or centrepieces. You should ensure that each finish is a thoughtful addition to your space.
You can add a small yet noticeable metallic touch to upgrade your interiors. | Photo by Stephanie Harvey on Unsplash
Incorporating these tips can do wonders for your home decor. You can make your home luxurious, without costing an arm and a leg. More than anything it's about making the right choices that give your house look clean and classy.
(Article originally published on IANS Life) (IANS/MBI)
Keywords: metallic, lighting, fabrics, invest, luxurious, furniture
India may not see a billion smartphone users even by the end of this decade and there are seven key challenges to achieve 100 per cent smartphone penetration, according to a new report. With the shrinking addressable base for smartphones, India is likely to have 887.4 million smartphone users by 2030, said the report by Gurugram-based market intelligence firm techARC.
The new smartphone user acquisition has been on a decline since 2018, after 4G drove switch to smartphones as it ushered several new use cases and forced feature phone users to upgrade. This, however, is not the case with 5G, which can substantially bring out a new use case for the mobile users compelling the feature phone users to move to a smartphone.
Affordability is the first concern even if users would discover their own use cases. "This is on account of both - investment in the device and the recurring data cost. Even to own a device, it's a substantial increase in the outlay for around 200-250 million users who cannot spent more than Rs 1,500 on a mobile device," said Faisal Kawoosa, Founder and Chief Analyst, techARC.
Even to own a device, it's a substantial increase in the outlay for around 200-250 million users who cannot spent more than Rs 1,500 on a mobile device. | Photo by rupixen.com on Unsplash
Second reason is that there are no models that could self-subsidise the smartphones for this potential audience, who are on the other side of the fence waiting to join the smartphone arena. "Advertising-based revenue and value-added driven revenues are negligible for such audiences where advertisers would not be ready to spend much as this is not their target audience," the report mentioned. So, original equipment manufacturers (OEMs) cannot work out any model of recovering partial cost of the device upfront and then realising the gap in due course through other streams.
Original equipment manufacturers (OEMs) cannot work out any model of recovering partial cost of the device upfront and then realising the gap in due course through other streams. | Photo by Zac Ong on Unsplash
The third key reason is that the OEM ecosystem is gradually moving away from the entry segment. All major OEMs have disinvested out of the entry segment (less than Rs 5,000) where the first-time smartphone user would fall. Rather OEMs are moving to higher average selling price (ASP) as consumers are willing to spend more (15-35 per cent) on their next upgrade/replacement of smartphones.
The fourth reason is that the OEMs are adding more features and functions to their smartphones to facilitate paying users leverage more from the device by consuming content and other services, which are subscription based. The interest of OEMs is gradually moving in this direction, where they could increase the lifetime value (LTV) per smartphone user by getting a pie of the services that the users are paying for.
"Another reason is that attempts such as a hybrid smart-feature phone, haven't paid off well. Though it has got in additional 80-85 million users into the digital ecosystem using fundamental digital services, majority of the featurephone users haven't accepted this 'workaround' wholeheartedly," said Kawoosa.
Attempts such as a hybrid smart-feature phone, haven't paid off well. | Photo by The Average Tech Guy on Unsplash
The sixth reason is that globally, we are witnessing prices of components going up on the one or another pretext. This is only forcing the OEMs to increase the cost of the devices and in a very hypersensitive market like smartphones, it is very challenging for the OEMs to frequently trade-off between input costs and the market opportunities.
Globally, we are witnessing prices of components going up on the one or another pretext. | Photo by Yiorgos Ntrahas on Unsplash
Finally, the entire smartphone ecosystem is interested in investing in opportunities which are rewarding. For example, when we compare education and gaming as two areas of immense opportunity, the entire smartphone ecosystem has preferred to make considerable investments in gaming than education. "There is hardly any OEM focusing on making devices affordable so that more and more students could benefit from digital means of education. But over the past two years, we have seen several OEMs making gaming smartphones in the affordable segments," the report argued. The result: At 4.9 per cent compound annual growth rate (CAGR) for smartphone subscriber growth, India may not have a billion smartphone users even by 2030. (IANS/ MBI)
Keywords: gaming, education, affordable, market, report, reason, device