Jerome Powell

Powell is the 16th Chair of the Federal Reserve, serving in that office since February 2018.

Pandemic emergency purchase programme (PEPP)

The ECB’s pandemic emergency purchase programme (PEPP) is a non-standard monetary policy measure initiated in March 2020 to counter the serious risks to the monetary policy transmission mechanism and the outlook for the euro area posed by the coronavirus (COVID-19) outbreak.

The PEPP is a temporary asset purchase programme of private and public sector securities. On 4 June 2020 the Governing Council decided to increase the €750 billion envelope for the PEPP by €600 billion to a total of €1,350 billion.

The Governing Council will terminate net asset purchases under the PEPP once it judges that the COVID-19 crisis phase is over, but in any case not before the end of June 2021.

Pending Order

A pending order is a request from a trader to a broker to state at which price level a position should be opened or closed. Professional traders use pending orders on a daily basis.

Pip

A pip expresses the change in value between two currencies. If EUR/USD moves from 1.1270 to 1.1271, that 0.0001 USD rise in value is called one pip.

Pipette

A pipette refers to the 5th decimal place when quoting a currency. For instance, if EUR/USD moves from 1.12751 to 1.12752, that 0,00001 move is one pipette.

Professional Forex

A professional forex trader trades fulltime in the foreign exchange market and has a strategy that shows consistent profitability. Here are some important points why professional forex traders, in our view, succeed far more in the market: 1. They have a large trading account (>10.000 $), 2. They know the right money management, 3. They have a daily trading plan (and do not trade every day), 4. They have a daily trading strategy, which has proved profitable, 5. They are able to adapt to market changes, 6. They analyze the market technically and fundamentally every day, 7. They maintain a trading journal and 8. They have the mental strength and discipline to follow the same approach every day.

Pullback

A pullback is a temporary reversal in the price of a currency, asset or security from recent peaks that occur within a continuing uptrend.