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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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07/12/2018

Gorillas, elephants, and tigers: the market jungle

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By Wordwide FX Financial Translations

The financial market vocabulary might sound serious but sometimes it is quite the opposite. Besides from the well-know bears vs. bulls and haws vs. doves, our particular financial jungle is inhabited by gorillas, tigers, both adult and cubs, lions, wolfs, elephants, sharks, alligators, dead cats, cockroaches, and killer bees. Investopedia explains all these concepts.

 “Elephants” are large institutions with funds to make high volumes trades, therefore with large influence on the price of a financial asset. “Gorillas” are the firms that dominate an industry without having a complete monopoly, and “killer bees” are firms or individuals that help a company fend off a takeover attempt. Companies use a variety of anti-takeover measures, sometimes referred to as “shark repellents”. When a company reveals as news to the public, the feeling is that more bad news will follow soon, same as when you see a cockroach you might think there are many more hidden: this is the principle of the “cockroach theory”.

Tigers, lions, and wolfs, some of the most impressive predators of the animal kingdom, are used to describe economies. A tiger economy is the economy of a country that undergoes rapid economic growth. The term was originally used for the Four Asian Tigers (South Korea, Taiwan, Hong Kong, and Singapore) as tigers are important in Asian symbolism. That inspired the Tiger Cub Economies (Indonesia, Malaysia, Thailand, and the Philippines), the Anatolian Tigers, the Gulf Tiger (Dubai), the Celtic Tiger (Ireland), the Baltic Tiger (Baltic States), and the Tatra Tiger (Slovakia). For emerging economies in Africa, we say lion economies, and in Mongolia “wolf economy” is used.

Little to say about the bulls and the bears, well-known concepts of the financial markets, but less famous is the concept “bear hug”, an offer made by one company to buy the shares of another for a much higher per-share price than what that company is worth. An alligator spread is an unprofitable spread that occurs as a result of large commissions charged on the transaction, regardless of favorable market movements, and a dead cat bounce is, as most of us know, a short-lived recovery in the price of a declining security.

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15/10/2018

강세장 종료의 시작인가?

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By Hussein Sayed, Chief Market Strategist with FXTM. Translated by Wordwide FX Financial Translations

강세장 종료의 시작인가? 

작성자: FXTM 수석 시장 전략가 Hussein Sayed

수요일 미국 증시는 지난 2월 이후 최악의 폭락 장세를 연출했습니다. 변동성 지수는 44% 급등하며 3월 이후 최고 수준에서 거래되었습니다. 미국채 수익률은 10년물이 7년래 최고점에서 10 베이시스 포인트 내려가는 등 소폭 밀려났습니다. 기술주 폭락으로 나스닥 지수가 4.1% 급락하는 등 성장형 주식이 가장 크게 하락했습니다. 다우존스 산업평균 지수와 S&P 500 지수도 각각 3.15%와 3.29% 하락했습니다. 

강세장이 마침내 종료된 것인가?  

이제 역대 최장 불마켓(강세장)이 종료된 것으로 보는 의견이 많아질 수 있는 상황입니다. 하지만 우리는 S&P 500 지수가 7일간 "조정권"에서 10% 이상 급락하는 등 이번보다 낙폭이 컸던 지난 2월 폭락장도 경험한 바 있습니다. 당시 임금 증가율이 2.9%를 기록하여 인플레이션 압력이 증가하고 미연준이 통화긴축을 서두를 것이라는 우려가 부각되는 등 견조한 경제 지표가 폭락의 원인으로 작용했습니다. 

이번에도 2월 당시와 크게 다르지 않아 보입니다. 유일한 차이라면 금리 상승에 대한 시장 반응이 조금 늦어졌다는 것 뿐입니다.  미국채 10년물 수익률은 지난 10월초 이후 0.40% 급등했습니다. 이로 인해 기술주와 같은 성장형 주식의 밸류에이션에 대한 의문이 제기되었습니다.. 주가 평가에 있어 핵심 요소인 ROE(자기자본수익률)가 단기간에 급등했으므로 이러한 시장 반응은 놀라운 것이 아닙니다. 

아직까지는, 많은 투자자들이 자산배분 비중 조절에 나서면서 나타난 차익실현으로 인한 급락으로 설명할 수 있을 것 같습니다. S&P 500 지수가 200일 이평선을 테스트하고 있으므로 일부 투자자들은 중요 지지선 이탈 여부도 주목하고 있을 것입니다.   이 중요 지지선은 2018년에 3차례 테스트를 받은 후 반등에 성공했습니다. 하지만 앞으로 2, 3일간 200일선 밑에 머물게 되면 며칠 더 투매 장세가 이어질 수 있습니다. 

트럼프 대통령은 "내 생각에는 미연준에 문제가 있는 것 같다. 미연준은 미쳤다. 금리인상을 서두를 이유가 없다. 나는 미연준에 불만이다"라고 발언했습니다.

수요일 미국 증시 폭락이 미연준 때문이라는 트럼프 대통령의 생각에 동의하지만, 트럼프 대통령은 자신이 시작한 중국과의 무역전쟁과 이란 제재도 증시 폭락의 원인이 되었음을 상기해야 할 것입니다. 트럼프 대통령은 인플레이션 압력을 높이는 데 일조했고 미연준은 경기 과열을 막기 위한 조치를 취할 수 밖에 없습니다. 가파른 증시 하락은 금리 인상 행진을 잠시 멈출 것으로 보이지만 미연준은 주가가 올라가는 것 보다 경제 상황을 더 신경 쓸 것입니다.

이제 금주 금요일에 시작되는 어닝 시즌에서 여전히 기업실적이 견조하고 향후 전망이 양호한지 여부에 달려 있습니다. 무역분쟁, 수입물가 상승, 달러 강세 및 기타 변수로 인해 미국 기업들이 향후 전망을 어둡게 보고 있는 것으로 나타난다면, 올해 증시 고점을 지난 것이 확실해 집니다.
 

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11/10/2018

El EURUSD marca nuevos máximos de sesión

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

El EURUSD ha marcado nuevos máximos de sesión tras conocerse el IPC, que ha resultado bastante moderado. El precio marcó un máximo de 1,5988 (digamos 1,600) y luego ha retrocedido un poco.

Si echamos un vistazo al gráfico horario (abajo), veremos que el recorrido alcista rompió sobre una línea de tendencia de canal en 1,1592. Ahora, el precio se opera por encima y por debajo de esta línea, y los traders evalúan si el par debe seguir su recorrido hasta el 50% (bajada desde el máximo del 24 de septiembre) y la importante MM de 100 días en la zona de 1,1623-26. Esta zona debería hallar vendedores en caso de ataque.

Abajo, vigilaremos la zona de 1,15778, pues podría proporcionar soporte. El máximo registrado durante la sesión asiática se dio en 1,572. La zona de 1,572-78 debería aguantar si los compradores quieren mant4ner el control del mercado. Si el precio, en cambio, pierde posiciones, el panorama alcista quedaría un tanto en entredicho.

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11/10/2018

Sleeping Beauties, Irish Elves, and Mad Hatters: the Financial Markets and Fairy Tales

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By Wordwide FX Financial Translations

Did it ever cross your mind that fairy tales and the financial markets could have anything in common? Are capitalism, speculation, and money at all related to fantasy, mystery, and magic? Well, apparently they are, because in the world of stocks, corporations, currencies, and portfolios we can also come across Leprechauns, princesses, and mad hatters.

Investopedia defines Sleeping Beauty as a company that is "sleeping;" that is, one that is ripe for takeover to achieve its full potential. A sleeping beauty essentially lies in wait until a takeover occurs. A “Mad Hatter”, the well-known character in Alice in Wonderland, is a CEO or a managerial team whose ability to lead a company is highly suspect. A Mad Hatter will often make puzzling decisions, with little thought for consequences, and they typically don’t last long in their positions. 

And if you don’t step carefully, you might also come across a Leprechaun, the mischievous and elusive Irish Elves, solitary beings usually depicted as little bearded men with a green coat and a hat, who spend their time making and mending shoes and have a hidden pot of gold at the end of the rainbow. In this sense, a “Leprechaun leader” is a malicious executive said to possess buried treasures of money and gold. According to Irish folklore, the location of the hidden treasure is revealed only when the leprechaun is caught. But in the case of a leprechaun leader, the "buried treasure" is not usually buried, but protected in an offshore account! Examples of leprechaun leaders are the executives of Enron, who stowed away millions of dollars until they were finally caught.

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03/10/2018

24 Old English Words You Should Start Using Again

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By Wordwide FX Financial Translations

Via Lifehack

Language changes over time; words and phrases come and go. In many cases, there is a good reason for words leaving our vocabulary.

I am certainly grateful that modern sewer systems mean there is no longer a need for the term Gardyloo – a warning call before chamber pots were poured out of windows onto the streets below.

Other old English words, however, still have perfectly valid meanings in our modern world and really need to be brought back, if only for the pleasure of saying them.

Here are 24 old English words and slang terms that are fun to say, still useful, and should never have left us in the first place:

1. Bedward

Exactly as it sounds, bedward means heading for bed. Who doesn’t like heading bedward after a hard day?

2. Billingsgate

This one is a sneaky word; it sounds so very proper and yet it refers to abusive language and curse words.

3. Brabble

Do you ever brabble? To brabble is to argue loudly about matters of no importance.

4. Crapulous

A most appropriate sounding word for the condition of feeling ill as a result of too much eating/drinking.

5. Elflock

Such a sweet word to describe hair that is tangled, as if it has been matted by elves.

6. Erstwhile

This very British sounding word refers to things that are not current, that belong to a former time, rather like the word itself.

7. Expergefactor

Something that wakes you up is an expergefactor. For most of us it’s our alarm clocks, but it could be anything from a chirping bird to a noisy neighbor.

8. Fudgel

Fudgel is the act of giving the impression you are working, when really you are doing nothing.

9. Groke

This means to stare intently at someone who is eating, in the hope that they will give you some. Watch any dog for a demonstration.

10. Grubble

Grubble might sound like the name of a character from a fantasy novel but it does in fact mean to feel or grope around for something that you can’t see.

11. Hugger-mugger

What a fun way to describe secretive, or covert behavior.

12. Hum durgeon

An imaginary illness. Sounds more like an imaginary word. Have you ever suffered from hum durgeon?

13. Jargogle

This is a perfect word that should never have left our vocabulary, it means to confuse or jumble.

14. Lanspresado

It sounds like the name of a sparkling wine, but no, it means a person who arrives somewhere, having conveniently forgotten their wallet, or having some other complicated story to explain why they don’t have money with them.

15. Mumpsimus

Mumpsimums is an incorrect view on something that a person refuses to let go of.

16. Quagswag

To shake something backwards and forwards is to quagswag, who knew?

17. Rawgabbit

We all know a few rawgabbits. A rawgabbit is a person who likes to gossip confidentially about matters that they know nothing about.

18. Snollygoster

I think we can all agree this is a fantastic sounding word. It means a person who has intelligence but no principles; a dangerous combination. Watch out for the snollygosters, they live amongst us.

19. Snottor

This old english term has the unlikely meaning of “wise.” Really?

20. Trumpery

Things that look good but are basically worthless. I said THINGS, not people.

21. Uhtceare

This means lying awake worrying before dawn. We all do this, we just didn’t know there was a word for it. Say it now, like this: oot-key-are-a.

22. Ultracrepidarian

Similar to the rawgabbit, this person takes every opportunity to share their opinion about things they know nothing about. Social media is the perfect outlet for these people.

23. Zwodder

Being in a drowsy, fuzzy state, after a big night out perhaps?

And finally, I broke the alphabetical listing to save my favorite till last…

24. Cockalorum

A small man with a big opinion of himself.

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02/10/2018

El EURUSD marca mínimos y rebota

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

El EURUSD ha abierto la jornada de hoy a la baja en reacción a los sucesos de Italia y, en el proceso, ha caído hacia un área de mínimos en 1,1609-29 - ver zona amarilla en el gráfico diario, abajo.

 

En esta zona se han dado varios swings desde el mes de mayo. En agosto, el precio rompió bajo esta zona durante 7 jornadas. Posteriormente, volvió a subir sobre este área, que que se puso a prueba de nuevo en agosto y septiembre, y el precio rebotó.

El de hoy ha sido el primer ataque este mes (el precio ha registrado un mínimo de 1,1504) y los vendedores han tenido su ocasión, pero los compradores han entrado otra vez en el juego y el precio se ha recuperado.

Ahora mismo, el par se pasea sobre los 1,1538. Si el mínimo es sólido, los traders una vez más deben tratar de apoyarse sobre esta zona en caídas.

Pasemos ahora al gráfico de 5 minutos, abajo, pues los factores técnicos deberían darnos pistas sobre hacia dónde se dirige el precio. Si nos fijamos, veremos que ha estado bajando durante la sesión de Londres y que se ha alejado de la MM de 100 sesiones (línea azul en el gráfico inferior).

La corrección sacó al precio de la zona de mínimos, lo empujó sobre la MM y ahora trata de aguantar la línea como soporte. Si conseguimos aguantar encima, la corrección tendrá más recorrido. Si volvemos atrás y caemos a 1,1529 (de nuevo en la zona de swings en el diario), el sesgo no quedará tan claro y no podemos descartar un ataque sobre 1,1509.

Si quieres leer el análisis original, haz clic aquí

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