FOREX Trading

Marketers Cry Out

… Ben P. WeseePetty traders and foreign exchange bureaus in Liberia are expressing … of illegal foreign exchangers along the streets here. A local foreign exchanger Gabriel Nimely … the prices become on the market,” Siato adds. A petty … Source link

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Foreign exchange reserves surge to new lifetime high of $409.4 billion

Scaling new peaks for the second consecutive week, the country’s foreign exchange reserves surged by a whopping $4.444 billion to touch a new life- time high of $409.366 billion in the week to December 29, Reserve Bank data showed today. In the previous week, foreign exchange reserves had spurted by $3.53 billion to reach $404.921 billion. The central bank said the surge was due to a massive spike in foreign currency assets, which is a key component of the reserves.…

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China FX regulator: report on slowing US bond buying may be based on erroneous information

BEIJING, Jan 11 (Reuters) – China’s foreign exchange regulator said on Thursday that a recent report on China considering slowing or halting purchases of U.S. Treasury bonds could be based on erroneous information. Bloomberg News reported on Wednesday that Chinese officials reviewing the country’s vast foreign exchange holdings have recommended slowing or halting purchases of U.S. Treasury bonds amid a less attractive market for them and rising U.S.-China trade tensions. China has been diversifying its forex reserves investments and its…

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Yen A Tad Stronger In Early In Asia With Focus On Bank Of Japan, PBoC By Investing.com

© Reuters. Yen gains a tad in Asia Investing.com – The yen opened a tad stronger in Asia on Thursday with investors looking to see if the Bank of Japan makes any comment about policy though analysts note that such signaling is usually formal and there is little reason for Governor Haruhiko Kuroda to abruptly change policy with no prior warning. changed hands at 111.40, down 0.04%, while traded at 0.7845, up 0.03% ahead of data sets. Australia reports for…

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China noise induced dollar tailspin ahead of Aussie retail sales

 The early part of the FX day was dominated by the noise that Chinese officials recommended slowing or halting buying of US Treasuries forcing a knee-jerk rally in the single currency on a sell-off in the greenback to 1.2018 highs. There was a subsequent break below 92 in the DXY to 91.92 before the dollar climbed back on the day to 91.41 in the DXY when US rates rallied higher with the benchmark treasury yields extending on a break of…

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Ukraine’s central bank buys $40 mln on interbank market in first week through forex interventions seeking best bid

 The National Bank of Ukraine (NBU) bought $40 million on the interbank forex market in the first week of 2018 through interventions seeking the best bid from banks, the NBU said on its website. During the last week of 2017, the NBU bought $3 million on the forex market through interventions seeking the best bid and sold $25 million. As was reported, the NBU late in October 2016 approved a new form of forex interventions – inquiring the best bid…

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More Of The Same For FX Pairs?

The expectation of a consolidation did develop but was short lived. What was slightly surprising was the deeper pullback in that then encouraged the bearish (following its short lived consolidation) to push way lower. The cross should soon see a pullback higher but not by a large degree – and that tends to suggest the potential for consolidation with both majors seeking the Dollar upside. I’m not sure whether I have the structure correctly but this should also see gains…

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Guardian Newspaper Nigeria – Experts hinge economic performance on improved forex | Nigerian Bulletin

CBN to pursue reserves accretion in 2018The nation’s improving economic indices, particularly the manufacturing and non-manufacturing sectors’ nine-month positive readings have been attributed to rising liquidity in the foreign exchange (forex) market. In the same vein, financial experts have identified the source of resurging forex liquidity and stability in the sectors as the emergence of the popular Investors’ & Exporters’ (I&E) FX Window, which has been operational since 10 months and stable oil prices. Consequently, with expectations of sustained positive…

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Forex _ Dollar Falls After China Prices Data Comes In Weaker, Bank of Japan in Foc By Investing.com

© Reuters. Dollar dips in Asia Investing.com – The dollar dipped in Asia on Wednesday as China inflation data came in weaker than expected and investors kept an eye on the Bank of Japan. changed hands at 112.27, down 0.35% as traders debated whether the dip in asset purchases by the Bank of Japan on Tuesday was a monetary policy signal or business as usual. traded at 0.7819, down 0.06%. Consumer prices rose 0.3% in China and at a 1.8%…

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BDC Operators Meet Today on Forex Rate Convergence

Over 3,500 Central Bank of Nigeria, CBN-licensed Bureaux De Change, BDC operators are set to meet today,Wednesday, January 10, 2018. The BDC operators will hold the meeting at the Gloval Hall, Lagos to discuss key challenges facing the sector especially on rate convergence for banks and BDCs s well as rising bank charges on BDCs’ transactions. According to president of ABCON, Mr Aminu Gwadabe, negative margins being experienced by BDCs, review of annual license renewal in view of the number…

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UPDATE 8-U.S. crude hits 3-year high as oil prices climb on tighter market – UK Money News

* U.S crude hits $62.80/bbl, highest since Dec 2014 * OPEC-led output cuts, dip in U.S. rig count support prices * U.S. crude inventories seen lower for 8th straight week * Iran says OPEC “not keen” on oil price rise * Coming Up: API’s U.S. oil inventory data at 4:30 p.m./2130 GMT (Updates prices, adds comments, fresh milestones) By Devika Krishna Kumar NEW YORK, Jan 9 (Reuters) – Oil prices edged higher on Tuesday, with U.S. crude touching its highest…

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Forex, Dow Jones Levels: January 9, 2018

Today’s support: – 1.1678, 1.1657 and 1.1643(main), where correction is possible. Break would give 1.1616, where correction also may be. Then follows 1.1593. Break of the latter would result 1.1565. If a strong impulse, we would see 1.1543 and 1.1514.Today’s resistance: – 1.1748(main), where correction is possible. Break would bring 1.1768, where a correction is possible. Then goes 1.1790. Break of the latter would result 1.1813. If a strong impulse, we would see 1.1836. Today’s support: – 134.55(main),where a delay…

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The Falling Dollar And China’s Foreign Exchange Reserves

Stiffened capital controls help. The weak dollar, China’s complex web of capital controls, and its efforts to crack down on its huge and over-leveraged conglomerates to invest overseas are having an impact: China’s foreign exchange reserves – the largest such pile of foreign-currency-denominated securities in the world – rose by $21 billion in December to finish the year at $3.14 trillion, according to the People’s Bank of China today. It was the highest level since September 2016 and the 11th…

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Equity markets in 2018: There are certain risks which investors must consider

I certainly hope that the path of economic reforms should continue. (PTI) By-Hemendra Kothari     The year 2018 will mark the fourth year of the Modi government and the penultimate year before the general elections scheduled for April-May 2019. At the moment, the big question is: Will the government stick to the path of economic reforms before 2019? I certainly hope that the path of economic reforms should continue. It would be safe to bet on reforms, and this can…

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