FOREX Trading

Rs118.30/dollar: SBP warns speculators as rupee hits all-time low in open market | Business | thenews.com.pk

Rs118.30/dollar: SBP warns speculators as rupee hits all-time low in open market KARACHI: The central bank on Monday warned dealers against betting on depreciation of rupee, asking them to strengthen the embattled local currency as ample liquidity is available in the open market to meet foreign exchange demand. Executive Director Banking Policy at the State Bank of Pakistan (SBP) Syed Irfan Ali advised people “to refrain from the speculations/rumours and to avoid the unnecessary purchasing of US dollar otherwise they…

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Naira Sustains Momentum at N363/$ at Parallel Market

The Ngerian Naira, on Monday, April 23, maintained momentum against the United States of American Dollar at parallel segment of the Nigerian Foreign Exchange Market. The local currency starts the new week closing at the rate of N363 against the greenback, same rate it exchanged for all through the preceding week. However, the naira appreciated against the British Pound Sterling, exchanging at the rate of N413 and closed at the rate of N445 against the European Single Currency, Euro. Meanwhile, last week the…

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USD the strongest of majors in trading today

Forex news for NY trading on April 23, 2018 In other markets today: Spot gold $-11.56 or -0.87% at $1324 WTI crude oil futures rose $.51 or 0.75% to $68.91.  The price was lower earlier in the session but rose to three-year highs as the Saudi-Yemen conflict heats up.  Iranian backed Houthis in Yemen launched an unsuccessful missile attack against Saudi Arabia.  Meanwhile a Saudi kingdom “led force killed a senior leader of the rebel group” according to Bloomberg The…

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Dollar Hits 8-Week High as 10Y Yield Nears 3%; Yen, Aussie Dollar Slumps By Investing.com

© Reuters. Investing.com – The dollar rose to an eight-week high against a basket of currencies amid a slump in both the yen and Aussie dollar, while a rise in the 10-year U.S. treasury yield close an important 3% level also lifted sentiment. The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.65% to 90.67. The neared an important 3% level as investors added to bets for the Federal Reserve to hike rates…

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CBN ruins Black Market business, says Gwadabe

Central Bank of Nigeria (CBN’s) foreign exchange management policies have begun to put severe pressure on Nigeria’s parallel foreign currency market as ‘Black marketers’ begin to see their trading margins disappear. Indeed with more stable supply of forex and growing investor confidence on rising oil prices (currently at $74 per barrel) , the business of currency speculation has become more precarious and former black market lords have begun to feel the pains. In an exclusive interview with Business Hallmark’s FELIX…

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Assure Hedge Offers Automated Hedging To Forex Traders Facing Exposure Risk

The Benzinga Global Fintech Awards are a yearly showcase of the best and brightest in fintech. In preparation for its biggest installment yet in May 2018, we’re profiling the companies competing for the BZ Awards. Our next feature is on Assure Hedge. What does your company do? What unique problem does it solve? Graham Carrick, chief commercial officer: ​Assure Hedge democratises foreign currency hedging through technology. Current forex hedging methods available are slow, inflexible and antiquated. Therefore, most businesses exposed to FX…

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President assures people of meeting domestic currency needs

President Hassan Rouhani on Sunday assured the Iranian people that the government owns sufficient foreign exchange reserves to meet their domestic currency needs. Talking to reporters at the end of the meeting of three branches of power on Sunday, he added that the meeting dealt with public demands as well as the problems facing the people, IRNA reported. Regional developments and other topics including the 2015 nuclear deal, officially known as Joint Comprehensive Plan of Action (JCPOA) which…

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Schroders boosts global multi-sector bond team with two PMs

Schroders has added two new portfolio managers to its global multi-sector fixed income team. Robbie Boukhoufane and Alan Wilson will both be based in London, reporting to Paul Grainger, head of global muliti-sector fixed income. Boukhoufane has been with the group for over six years and brings more than 20 years’ experience of fixed income and foreign exchange (FX) trading, including his most recent role at Schroders of global head of fixed income and FX trading, which he has held…

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Forex shortages choking industry growth – Nehanda Radio

The continued shortage of foreign currency is making it difficult for industries to import raw materials for use in their production processes, hampering the growth of manufacturing in Zimbabwe, experts from different sectors of the economy have said. Busisa Moyo The Government in 2016 introduced bond notes as a way of bringing liquidity and stability in the economy but many industries have shut down as the country does not have adequate foreign currency. Oil Expressers Association of Zimbabwe chairperson Busisa…

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Rupee more sensitive to FPI inflow as FDI falls: Michael Sneyd, BN Paribas

Michael Sneyd, global head of foreign exchange strategy and cross-asset strategist at BNP Paribas, the Paris-based financial group, tells Indivjal Dhasmana the rupee has depreciated three per cent in 2018 and the 10-year bond in value by four per cent. This has wiped out one year’s yield of the bond. Even then, he says, foreign investors have more favourable views of bonds than equities in India. Edited excerpts: The US has put India on…

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Euro Drops Below $1.23, Poised for Biggest Weekly Drop

The European Single Currency, euro, on Friday, April 20, weakened below $1.23 on Friday and is poised for its biggest weekly drop in two months as investors trimmed record high bets before a European Central Bank meeting next week where policymakers are largely expected to signal no change in policy. Commodity currencies such as the Australian dollar and the Kiwi came under pressure thanks to a drop in Chinese stocks, while sterling extended losses for a second consecutive day after…

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Despite plunging approval ratings, Japan’s Abe popular…

By Reuters Published: 19:03 EDT, 22 April 2018 | Updated: 19:03 EDT, 22 April 2018 By Tetsushi Kajimoto TOKYO, April 23 (Reuters) – The public approval ratings of Japan’s prime minister may have plunged to record lows following a scandal over suspected cronyism, but a Reuters poll shows that the Japanese business community has a much more positive view of him. Out of 223 respondents, 73 percent wanted Shinzo Abe to win a third, three-year term as the leader of…

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HiFX Morning Update, April 23, 2018

Monday, 23 April 2018, 9:21 amPress Release: HiFX HiFX Morning Update, April 23, 2018 The NZDUSD opens at 0.7215 (mid-rate) this morning. The USD outperformed on Friday as US treasuries extended their move to the downside. Yield on the benchmark ten-year note, which moves opposite of its price, rose by 3.7 basis points to 2.951% on Friday and now sits at four-year highs, as investors position their books for further interest rate hikes. After hitting a 14-month low of 1.8%…

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Banking royal commission: How ASIC went missing in action with the banks

Posted April 23, 2018 06:05:08 First, the recriminations. Then the tough talk. Barnaby Joyce’s admission that he was wrong to oppose a royal commission into banks was quickly steamrolled by Treasurer Scott Morrison’s resolute and defiant shift, quickly upgrading the corporate regulator’s legal arsenal. Admirable maybe, but somewhat belated. Worse than that, in his hasty attempt to take control, Mr Morrison has overlooked the fundamental reason for the shocking revelations taking place under the steely gaze of commissioner Kenneth Hayne.…

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Brighter economic prospects for Anglo-West Africa including Sierra Leone – Sierra Leone Telegraph

Sierra Leone Telegraph: 22 April 2018: The economic forecast for Anglophone West Africa is looking brighter, according to analysis by Ecobank’s research team in the newly published Anglophone West Africa section of its flagship financial website. Nigeria, Africa’s largest economy, is at last moving out of recession, Ghana’s growth continues to be strong, and the region’s smaller countries are picking up as they shake off the lingering effects of the Ebola outbreak in 2013-16. Anglophone West Africa, which stretches from…

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Possible US withdrawal from deal will not affect Iran economy

The possible US withdrawal from the Iranian agreement will not affect the Iranian economy, said the Iranian President Hassan Rouhani. According to the statement, the recent reforms undertaken by the Iranian administration in the foreign exchange market were a preventive measure in connection with the possible US withdrawal from the agreement, Tasnim reported. Rouhani noted that the Iranian Atomic Energy Organization is ready to take steps that the other side is waiting for. Source link

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