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insight by wfx

Welcome to Wordwide FX's new enterprise!

Insight by WFX is a synthesis of our passion for languages and the financial markets. Here you will find technical and fundamental analyses from our clients, media partners and contributors in different languages, as well as discussions on languages and translation. And of course we will keep you updated on what is happening inside Wordwide FX Financial Translations. Hope you enjoy it! Greetings from the Wordwide FX team!

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05/06/2018

El GBPUSD retrocede de nuevo hacia los máximos de ayer y trata de mantener a los compradores al mando

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By Greg Michalowski @GregMikeFX, Director of Client Education at ForexLive. Translated by Wordwide FX Financial Translations

El par se detiene bajo la MM de 100 sesiones en el gráfico de 4 horas, lo cual sugiere que la batalla entre compradores y vendedores sigue en pie.

Hoy, el GBPUSD ha subido con fuerza en reacción al PMI del sector servicios, que se ha saldado mejor de lo esperado.

 

Sin embargo, al igual que sucedió ayer, el precio  superó la MM de 100 sesiones en el gráfico de 4 horas (línea azul en el gráfico superior), que se sitúa en 1,33936. El máximo de hoy se ha situado en 1,33915. El ataque de hoy ha sido más serio que el de ayer. Como referencia, os comento que la última vez que el precio escaló sobre esta media móvil fue el 19 de abril, ya hace algunas semanas…

El precio superó el nivel de resistencia arriba y volvió a atacar los últimos máximos en giro registrados el jueves de la semana pasada en 1,33478 (el mínimo de hoy alcanzó 1,33442). Ahora mismo operamos entre este nivel abajo y la MM de 100 sesiones arriba. En medio está el 38,2% en 1,33615.

Si echamos un vistazo al gráfico de cinco minutos (abajo), veremos que la corrección de la acción alcista también se detuvo cerca del 50% del rango del día y de la MM de 100 sesiones, en trayectoria ascendente (línea azul en 1,33468). Esta combinación de factores técnicos da cierto impulso al par. Esta media móvil y este 50% nos darán pistas sobre el sesgo del precio para la jornada de hoy. Si aguantamos arriba, los compradores mantendrán un poco más el control. Si bajamos, es posible que los que querían recuperar terreno y que no lo consiguieron contra la MM de 100 sesiones en el gráfico de 4 horas, arriba, se retiren.

Puedes leer el análisis original en inglés en ForexLive, aquí.

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05/06/2018

Old Norse and Old English: The languages in History Channel “Vikings”

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By Wordwide FX Financial Translations

I recently started watching History Channel Vikings for the second time. It is a good show, highly recommended, that tells the story of various famous Viking leaders more or less contemporary but often with an age gap that would have made impossible for them to share deeds and adventures. Ragnar Lothbrok, for instance, is a semi legendary figure thought to have died around 860, whereas Rollo, founder of Normandy, is a histotical leader that lived between 845 and 930. But I’m not going to speak about them here – there is plenty of information out there for those who wish to learn more. I’d like to speak a little about two aspects of the show that fascinate me as a linguist and as a lover of historical linguistics: the occasional use in the show of Anglo-Saxon (Old English) and Old Norse (among other languages that have been long gone), and the meaning of the names of some of the characters, some of which are still used nowadays but people are unaware of their origin (part II of this post).

The languages of the Germanic tribes

Around 100 AD, the Germanic tribes moved out of southern Scandinavia and northern Germany to adjacent lands. The Saxons and the Angles settled in Celtic Britain, controlled by romanized Briton tribes until the sixth century, the time when the historical King Arthur lived - if he ever did so (Arthur would have been a Briton chieftain uniting Celtic and Roman tribes to fight the Saxon invaders). Other tribes stayed in Scandinavia. All of these tribes spoke a language or dialects of a language that we call Proto-Germanic (or Common Germanic) and which was in turn diversified into several dialects. In the Northern countries it got to be Old Norse. In the Anglo-Saxon territories it got to be Old English. The Germanic tribes settling in the British Isles, who spoke basically the same language as their Scandinavian (and German) cousins, got relatively isolated, both socially and linguistically, for 200 years, until they got in touch again during the Viking era. In those 200 years, the two dialects of course underwent some changes (Old English is more syntactically like German than like Old Norse, although Modern English is more syntactically like Swedish than to German), but scholars believe they remained mutually intelligible to a great extent.

These are two main old languages we can hear on Vikings: Old Norse and Old English. Old Norse is the ancestor of the Scandinavian languages and Anglo-Saxon is the ancestor of English (this is a deliberate oversimplification, since how modern-day English got to be is a quite complex matter).

The Vikings and the Anglo-Saxons needed no interpreter to understand each other

So, Old English and Old Norse were cousin languages, but in the show we often see that the Vikings and the Anglo-Saxons need interpreters to communicate with each other. In Ragnar’s second journey to England, the Viking longships drift to the Wessex coast where they are met by a group of Anglo-Saxon soldiers. They try to speak to each other, but to no avail. How realistic is that? The mutual intelligibility of the two languages is a topic of study in historical linguistics and it is believed that differences between the two Common Germanic dialects (Old English in England and Old Norse in Scandinavia) derived from that 200 year isolation period would not have posed a problem of intelligibility. The literature of this period supplements these notions of mutual intelligibility. Therefore, even though linguistics (and specially historical linguistics) is not an exact science and there are obvious syntactic differences between the two languages, we believe that Ragnar Lothbrock and his Anglo-Saxon friend, the monk Athelstan, would have been able to speak to each other quite well.

As a testimonial from those times, the author of the thirteenth century Icelandic Gunnlaugs saga ormstungu makes a reference to the spoken English language in the time of Anglo-Saxon King Ethelred (986 – 1016 AD):

Ein var þá tungu á Englandi sem í Nóregi ok í Danmörku.
“One was the tongue in England as in Norway and in Denmark”

(Quote from Old English and Old Norse: An Inquiry into Intelligibility and Categorization Methdology. Master's Thesis by Eric Martin Gay. University of South Carolina - Columbia (2014).

 

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14/05/2018

FXTM's analysis in Arabic, Thai, Korean, and Indonesian, by Wordwide FX Financial Translations

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By Wordwide FX Financial Translations

More good news for us at Wordwide FX Financial Translations. One of our best clients, Cyprus-based broker FXTM, has recently entrusted us with the translation of technical and fundamental analysis by the company's top analysts, Chief Market Analyst Jameel Ahmat, Chief Market Strategist Hussein Sayed, and Research Analyst Lukman Otunuga. It's a pleasure and a privilege for us to be a part of FXTM's global strategy and to help them reach out to more and more clients worldwide.

Our partnership with FXTM started over 2 years ago and day by day we've been able to build a fruitful cooperation. Now, we are proud to say we have become one of their most trusted providers of specialized FX translations and that we are in charge of over 15 languages, including Arabic, Indonesian, Spanish, Thai, Chinese, Italian, and much more.

It's a real pleasure to work hand in hand with the FXTM team: Web Content Manager Sofia Kotsou, Email Marketing Specialist Nina Plavnik, and PR Executive Olga Ulasovich, and of course with analysts Lukman Otunuga, Hussein Sayed, and Jameel Ahmat. We want to thank you very much for allowing us to share these fascinating materials here on our blog.

The Wordwide FX Team

 

 

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10/05/2018

Rápido vistazo a algunos majors...

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By Greg Michalowski @GregMikeFX, Director of Client Education at ForexLive. Translated by Wordwide FX Financial Translations

Vamos a comentar algunos niveles clave de algunos de los pares de divisas principales.

EURUSD

El precio rompe sobre la MM de 100 horas en 1,1897 y ahora vuelve a atacar el nivel de ruptura. ¿Aguantará? Si lo hace, es preciso perforar la MM de 200 horas en 1,19537. El precio no ha estado por encima de esta media móvil desde el 19 de abril. 

GBPUSD

El par baja y ataca el triple suelo de la zona de 1,3483-86 (ahora mismo cae bajo esta zona). Ruptura clave.

Si echamos un vistazo al gráfico diario (abajo), veremos que el 38,2% de la subida que arrancó en enero de 2017 se sitúa en 1,3463- El si precio desciende bajo esta zona, aumentará el tono bajista. Ahora, el precio trata de alejarse de la MM de 200 días.

USDJPY

El USDJPY no consiguió superar los máximos de la semana pasada. El IPC hizo caer el precio, que alcanzó el 50%/MM de 100 horas y se detuvo. El par trata de aguantar en la mitad superior del rango reciente, pero se mantiene errático. El precio está por debajo de la MM de 200 días en 110,165 y la MM de 100 días en 108,512, que aún sigue bajando,

 

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10/05/2018

Of ‘standard’ languages and ‘impure’ dialects

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By Wordwide FX Financial Translations

Via Livemint

Why a certain variant of the language came to be regarded as the ‘standard’ and why its variants were demoted to ‘dialect’ status is a product of history and politics

The socio-linguist and scholar Max Weinreich once said, “A shprach eez a deealekt mit an armee un flot”, which translates to, “A language is a dialect with an army and navy.” The original sentence is in Yiddish and, in that fact, lies a delicious irony. 

Yiddish originated during the ninth century in central Europe, providing the Ashkenazi Jewish community with a vernacular that was largely Germanic-based and incorporated elements from Hebrew and Aramaic (incidentally, Aramaic was Jesus Christ’s mother tongue). The influence of the Slavic languages (Russian, Polish, Czech, Slovak, Serbo-Croatian and others) and traces of the Romance languages (Spanish, Portuguese and others) is also discernible in this language. It also has a fairly extensive literature. 

The irony is that many remain unconvinced about the extent of the linguistic independence of Yiddish from the languages that it absorbed. It’s been said that Yiddish is actually just broken German and more of a linguistic mish-mash than a true language. In other words, according to some, Yiddish is itself a dialect…of German!

In popular telling, a dialect is viewed as something of a “lesser” language. When we speak of a dialect, we sometimes mean a mere spoken language (without a script) and sometimes, a variant of a standard language which, while resembling the standard, also has independent elements of its own that make it different from the standard language. 

In reality, language and dialect are ambiguous terms, terms that scholars have difficulty applying to specific situations. The ambiguity stems from the fact that why a certain variant of the language came to be regarded as the “standard” and why its variants were demoted to “dialect” status is a product of history and politics. It has little to do with any special features of the so-called “standard” language. 

Standardization is a process by which a language is codified and this involves the development of dictionaries, spelling forms, a grammar and possibly, a literature. It involves people reaching an agreement and developing a “model” language, a model that people aspire to achieve, even if they have not achieved it at the time of its creation. 

Standard English essentially developed from the language (actually, dialect) that was spoken in London, which is where the court moved to (from Winchester) after the Norman Conquest in 1066. This happened organically over the course of several centuries and, gradually, a standard English came to be accepted as the norm. The many variants of English like Cockney, Scots, Yorkshire English are compared to the standard and termed as dialects. 

In the case of French, the development of standard French was orchestrated by the government. In 1635, Cardinal Richelieu, the chief minister to King Louis XIII, established the Academie Francaise. Over the next few centuries, the Academie oversaw the creation of a standard French even as its many variants stubbornly defied the Academie’s attempts at standardization, well into the nineteenth century when centuries of language reform coupled with the iron hand of government-mandated language use rules ran the old dialects into the ground. Standard French was soon on its way. 

Among the more interesting attempts at standardization has been that of Turkish. The modern state of Turkey was formed in 1922 with Mustafa Kemal (Atatürk) as president. Atatürk then initiated a series of political, legal, religious, cultural, social, and economic policy changes to transform the new Republic of Turkey into a secular, modern nation state. The adoption of the Latin alphabet and the purging of foreign words was part of Atatürk’s programme of modernization. 

The Turkish Language Association (TDK) was established in 1932 and one of its tasks was to initiate language reform by replacing words of Arabic and Persian origin with Turkish equivalents. By banning the usage of imported words in the press, the association succeeded in removing several hundred foreign words from the language. Many words, newly derived from Turkic roots, were introduced to the language. Equally, Old Turkish words, which had not been used for centuries, were pressed back into active service. A new Turkish thus became the standard. 

Owing to this sudden change in the language, older and younger people in Turkey started to differ in their vocabularies. While the generations born before the 1940s tend to use the older terms of Arabic or Persian origin, the younger generations use new expressions. Atatürk himself, in a lengthy speech to the Parliament in 1927, used a style of Ottoman Turkish which has become unintelligible to later listeners and hence it has had to be “translated” three times into modern Turkish: first in 1963, again in 1986, and, most recently, in 1995.

In similar fashion, in the subcontinent, a Sanskritized Hindi and a Persianized Urdu were “created” from the Hindustani base that was the foundation for both languages. In the 19th and early 20th centuries, “Hindi” was willed into existence by Hindu zealots keen on a language purged of Muslim influences. The Hindustani that was spoken in the bazaars of north India was the vehicle chosen for this dream and was purged of its Arabo-Persian words, which were replaced with Sanskrit equivalents. This new creation was held up as standard Hindi. 

Other allied languages like Maithili, Bhojpuri, Braj and many others, many of which were centuries old and had extensive bodies of literature, were then cast as “dialects” of Hindi. The fantastic claim that such a Sanskritized Hindi is likely to have existed in the past before the Muslim invasions was made and the language thus endowed with a history that was nothing more than a purloining of the histories of its “dialects” and more than a dollop of imagination.

Parallely, Urdu was purged of “polluting” Hindu influences. Turkic, Arabic and Persian words were preferred to words from Indian languages and an acceptable Urdu was willed into existence much in the same fashion as an acceptable Hindi was. Both languages jostled for acceptance and legitimacy among their target audience and aspired for “purity” even as the common man continued—and continues to this day—to use what in effect must be rightly termed “Hindustani” (known as Hindi in India and Urdu in Pakistan). In effect, Sanskritized Hindi claims a history that isn’t really its own while Persianized Urdu, on the other hand, chooses not to dwell on that history much, choosing instead to look to Persian and Arabic as its forerunners.

To return to Yiddish, its lesser status was affirmed when the state of Israel chose the classical language of Hebrew to be its state language, ignoring the claims of Yiddish. When Israel was born in 1948, Yiddish did come to possess an army and navy, but lacked the “divinity” that Hebrew—the language of the Jewish scriptures—had. Hebrew, which was effectively a dead language when this decision was made, then underwent a spectacular revival and is now a widely spoken language in Israel. It is the only instance of a dead language that has undergone a complete revival.

A standard language is thus a product of many things. In the common telling, it has a hallowed status. In reality, its status is a mere accident. Armies, academies, the hand of god and other things are what take humble dialects to the dizzying heights of “standard” status.

 

Below,  Hebrew is the only instance of a dead language that has undergone a complete revival. Photo: iStock

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09/05/2018

Criptomonedas y no petróleo: la opción ante las sanciones sobre Irán

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By Adam Button @FX_Button, Currency Analyst and CEO at ForexLive. Translated by Wordwide FX Financial Translations

Supongamos que han pasado algunos meses y que Irán es objeto de sanciones,

Lo que mucha gente no entiende es que EEUU es quien controla, en esencia, el sistema financiero. Son los amos y señores y todos tienen que jugar con las reglas de EEUU. Así pues, incluso si Europa, China y Rusia ignoran las sanciones de EEUU, el impacto será importante.

Vale, pues, ¿qué hay que hacer para entrar dinero en Irán o para sacarlo?

La solución más evidente son las criptomonedas, ya que nadie puede ni sancionarlas ni detenerlas. Finance Magnates menciona al Financial Tribune de Irán, que cita a Mohammad Reza Pourebrahimi: "A pesar del hecho de que una minoría de las personas de nuestro país son clientes de divisas virtuales y sus nuevos mercados, más de 2.500 millones de dólares han salido ya del país después de una compra, mientras que la mayoría de la gente activa en ese campo están en él para especular o para conseguir beneficios macro".

En febrero, una autoridad del gobierno dijo que el país estaba investigando el desarrollo de su propia divisa digital y el ministerio de información y tecnología de las Comunicaciones dijo que estaban estudiando cómo crear una "divisa digital basad en la nube", aunque luego dio marcha atrás en sus declaraciones.

El Bitcoin sube hoy 113$ y se sitúa en 9274$.

 

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