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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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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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09/05/2018

How Much is the Lord of the Rings Franchise Worth?

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By Wordwide FX Financial Translations

Via Moneyinc.com

By Nat Berman

Since the books publications, The Lord of the Rings has been making a solid stream of income. But more recently the millennium movies rocked the box office with ticket sales, and the books gained a new Frodo following.  From there revival video games, action figures and other merchandise has exploded around the world. How much is the Lord of the Rings franchise worth? To ascertain anywhere near a close estimate, all of the limbs of the entertainment branch of the LOTR tree must be analyzed. Here they are:

The Tolkien Estate

The Tolkien estate, run by the author’s son, Christopher, is still making money hand over fist. The Telegraph estimates that book sales alone for 2001 were up to 50 million pounds worldwide. That’s before they sat down with Houghton Mifflin to discuss further rights stemming from future book sales. In 2001, it was reported that Christopher was quite upset that the family would not be making cash directly from the movie deals.  It’s also been reportsedthat John Ronald Reuel Tolkien Tolkien was worth 500 million pounds when he died in 1978. His son Christopher, who oversees the family business of wheeling and dealing agreements about his Dad’s masterpiece, and also edits and annotates the notes and stories his famous father left behind, Christopher, who is not a fan of the movies, perhaps because they didn’t directly make him a dime, balked at some of the merchandising, and successfully stopped a Lord of the Rings slot machine that was developed by Warner Brothers.

Houghton Mifflin, the official U.S. publisher of Tolkien’s work for more than 60 years, has a lot to smile about. They took a risk and had paid a hefty sum to acquire the rights to the movie tie-in volumes. The company had made lots of cash from JRR Tolkien’s work with Lord of the Rings movies in 2001,2002, and 2003 and then expanding The Hobbit into a trilogy over ten years later. There were opportunities for endless publications that explained and highlighted the settings and characters of “The Nerd Bible”, or Lord of the Rings Trilogy. Online MBAaverages the figure of new and used book sales to be $2.25 billion.

It’s not a good idea to mess with the Tolkien’s literature, as one Russian author Kirill Eskovm found out when he was threatened by the estate because he wrote his version of Lord of the Rings, The Last Ringbearer, giving fans a glimpse of how the story would be told if Orcs were the good guys. This book could not be released in English because the Tolkien estate does not approve, but fans everywhere have downloaded underground translated copies.

Box Office Movie Sales

Despite purists who are upset about the deletion of Tom Bombadil, fans who never even heard of the book were won over by Peter Jackson’s award winning film trilogy. According to The Minute MBA, the movies are the sixth highest grossing movie franchise of all time, making close to $4 billion.

Game Wars

In 1982 a little computer game called The Hobbit was introduced. It was popular with die hard LOTR fans, but did not strike gold. The story of a cute little hobbit with a bunch of grumpy dwarves did not have much appeal for anyone, except for those who still have their “Frodo Lives” tee shirt from their college days in the 1960s, and kids who had seen the cartoon version of the movie. Electronic Arts (EA), paired some action packed and rather violent adventure games based more heavily on the movie plots than literary cannon. One game ruled them all, from PS2 to Xbox and Gameboy.

Not to be outdone, the Tolkien estate licensed their own game with Universal Interactive, closely based on the plot of the first book,  The Fellowship of the Ring. As it was more for hard core book canon fans than die hard gamers, the game based on the second book never made it to the shelves. Another video game based on the Hobbit was released by Vivaldi Universal and Sierra, but as the movies had not yet brought Thorin and Company back to life in cinematic glory, it didn’t break any sales records. With franchises, timing is everything. If they had waited ten years and made Thorin’s avatar look like Richard Armitage, who played the lead dwarf in the films, it would have flown off the shelves.

The Tolkien estate finally gave in to EA games to use book material that was not included in the movie so that the characters and plot could be more richly developed. Because of this, there are so many games that sprang from the movie and films, and estimate of sales would be impossible. If EA games is worth 34 billion dollars then it can be assumed that part of it was made from sales of The Lord of the Rings games like The Battle for Middle Earth series. The Lord of the Rings: Conquest was the last game to be released by EA and then Warner Brother’s bought the license to turn out more games before the release of the blockbuster Hobbit movie trilogy.

Merchandise

Action figures, Legos, jewelry, drink cups, and even Hobbit doll houses rode the coattails of this massive mix of literature and film adaptations, so the entire worth of the Lord of the Rings franchise grows with every new movie release, including extended video editions of the theater versions, with commentary from the cast and crew plus deleted scenes. Fans are clamoring for Peter Jackson to finish the job and make the Silmarillion, which if this happens, will give the other stories a new revival.

The big winners in this endeavor are Peter Jackson and the movie cast, Houghton Mifflin Publishing, and of course the Tolkien estate, even if they dispute the fact. New Zealand has also benefitted from tourism resulting from the film’s location, although much of the filming, particularly for the later films, was done on green screen. So in the end it can be said that the entire Lord of the Rings Franchise is more valuable than all of the Mithril in the Mines of Moria.

All tolled?  A specific number is extremely hard to guess but an estimate of $10-$15 billion is not entirely out of the question.

 

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03/05/2018

La GBPUSD rompió ayer a la baja: ¿puede mantenerse fuera del rectángulo?

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

El martes, el cable experimentó una nueva ruptura bajista.

En esta ocasión, el par salió de un rectángulo en el que lleva contenido durante los últimos tres meses. El mínimo de este rango está en 1,3711, nivel que fue puesto a prueba el lunes y que consiguió aguantar. Al mismo tiempo se rompió también la línea de tendencia.

El par se ha convertido en un barómetro para el mercado para los próximos días. No suele pasar que se rompa un rango de mercado de 3 meses de duración para luego volver a él, SIEMPRE Y CUANDO la ruptura sea "auténtica". Si se produjera este escenario sería un fallo enorme y podría convertir a los vendedores en compradores (al menos, esto es lo que yo esperaría). 

Abajo, la MM de 200 días en 1,35286 es el siguiente objetivo. El par no se ha operado por debajo de esta media móvil desde el 19 de abril de 2017, hace ya más de un año. El 38,2% de la subida que arrancó del mínimo de enero de 2017 en 1,3463 sería otro objetivo para los vendedores. 

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