FOREX Trading

UPDATE 1-Daimler sees currency effects tempering…

By Reuters Published: 02:38 EDT, 27 April 2018 | Updated: 02:58 EDT, 27 April 2018 FRANKFURT, April 27 (Reuters) – Daimler said currency headwinds will dampen revenue growth at its Mercedes-Benz luxury vehicles division this year, after foreign exchange effects and the absence of one-off gains pushed the group’s first-quarter operating profit 12 percent lower. Daimler’s Chief Financial Officer Bodo Uebber said the company now expected a burden on earnings this year in excess of 1 billion euros tied to…

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Forex – Dollar Slides; Bank of Japan Speaks And Two Koreas Meet By Investing.com

© Reuters. Investing.com – The dollar slipped in Friday morning trade although it remained above the 91 mark. Focus of the day for the Asian currency market was on the lacklustre economic data from Japan, Bank of Japan (BOJ)’s interest rate decision and the inter-Korean summit. The that tracks the greenback against a basket of six major currencies last stood at 91.31, down 0.09% at 11:53PM ET (03:53 GMT). Despite a small drop in late morning, the greenback climbed to…

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SBP to supply dollars to open market – Newspaper

KARACHI: State Bank of Pakistan Governor Tariq Bajwa and Adviser to the Prime Minister on Finance, Revenue and Economic Affairs Miftah Ismail assured currency traders for their support to bring down dollar rates in the open market, said currency dealers on Thursday. The recent sharp increase in the dollar prices appeared as a burning issue for the economic managers as well as for importers who buy dollars from open markets. The exchange rate in the banking market remained stable apparently…

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Rupee gains in open market | Business | thenews.com.pk

Rupee gains in open market The rupee posted minor gains in the open market on Thursday after the dealers decided to fix the price of the dollar on daily basis. The rupee recovered to close at 118.20 for buying and 118.70 for selling, higher from Wednesday’s closing of 118.50/118.90. The rupee hit an all-time low of 119.50 in an intraday trade on Wednesday. It ended firmer at 115.61 against the dollar in the interbank market. The exchange companies, in an…

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Barclays Plc (BCS) Q1 2018 Results – Earnings Call Transcript

Barclays Plc (NYSE:BCS) Q1 2018 Earnings Call April 26, 2018 4:30 AM ET Executives James Edward Staley – Barclays Plc Tushar Morzaria – Barclays Plc Analysts Claire Kane – Credit Suisse Securities (Europe) Ltd. Joseph Dickerson – Jefferies International Ltd. Jonathan Pierce – Exane Ltd. Michael Helsby – Bank of America Merrill Lynch Andrew P. Coombs – Citigroup Global Markets Ltd. Martin Leitgeb – Goldman Sachs International Jason Napier – UBS Ltd. Edward Firth – Keefe, Bruyette & Woods, Inc.…

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Ex-HSBC Bank foreign exchange exec gets 2 years in prison

NEW YORK (AP) — The former head of HSBC Bank’s foreign exchange cash trading was sentenced Thursday to two years in prison on charges he traded ahead of his customers to make millions of dollars in a scheme known as “front running.” “Mark Johnson exploited confidential information and betrayed a client in order to generate profits for HSBC and enrich himself,” said U.S. Attorney Richard Donoghue. “Johnson has been held accountable for his crimes and today’s sentence should serve as…

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Emerging markets performance tied to oil price surge, says Nomura

If the crude oil prices continue to go up, there could be variations in the performance of emerging markets (EMs). Markets such as Saudi Arabia, Brazil and Russia could gain at the expense of oil importers such as India, the Philippines and Indonesia. “If the recent oil price rise continues and is more supply-side driven, we would expect it to drive major differentiation in EM performance, hurting large net oil importers with weak economic…

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Uganda welcomes law to have single regional currency

Ugandan President Yoweri Museveni Uganda welcomed a new law passed by the East African Legislative Assembly (EALA) to pave the way for the formation of a regional central bank and currency, a Ugandan member of the EALA said on Thursday. On April 21, the EALA passed the East African Community (EAC) Monetary Institute Bill, 2017, which will allow the establishment of the East African Community Monetary Institute. “The institute is a transitionary institution for the ultimate establishment of the East…

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Avtovaz swings to profit in Q1 but warns of FX impact

April 26 (Reuters) – Russia’s biggest car maker Avtovaz returned to profit in the first quarter, on the back of stellar sales of its Lada models, but warned currency fluctuations might impact results for rest of the year. Avtovaz said it made a net profit of 609 million roubles ($9.70 million) in the first three months of the year, reversing losses of 2.81 billion roubles for the same period last year. The car maker’s revenue soared 40 percent to 64.8…

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EMERGING MARKETS-Emerging markets arrest losses, hover…

By Claire Milhench LONDON, April 26 (Reuters) – Emerging equities found a foothold on Thursday, taking their cue from developed markets, but remained near 10-week lows as higher U.S. Treasury yields and a strong dollar curbed investor appetite for riskier assets. MSCI’s benchmark emerging stocks index has been on the backfoot all week, with U.S. 10-year Treasury yields breaking through 3 percent to hit their highest since January 2014 and wobbles in tech stocks. The move higher in Treasuries has…

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SC seeks foreign currency transaction details, seeks SBP report

The rupee remained stable against the dollar. PHOTO: AFP ISLAMABAD: The Supreme Court (SC) on Thursday, seeking details of all transactions above $50,000 from Pakistan during 2017-18, instructed the State Bank of Pakistan (SBP) to submit a sealed report on the matter in seven days. A three-judge bench, headed by Chief Justice of Pakistan (CJP) Mian Saqib Nisar, passed the instructions during a suo motu hearing of a case pertaining to foreign bank accounts owned by Pakistani citizens. Top court tasks…

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Rupee weakens to over Rs119 against dollar in open market as panic buying continues

Dealer­s’ associ­ation conven­es meetin­g, says rate will now be determ­ined three times a day Dealers’ association convenes meeting, says rate will now be determined three times a day. PHOTO: REUTERS KARACHI: The open market continued to remain in the grip of panic buying as the currency weakened to as much as Rs119.5 against the US dollar, two days after the central bank held an “emergency meeting” with dealers to keep the gap with the inter-bank rate as low as possible. Overheating…

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Forex – Dollar Retreats Despite Rising Yields By Investing.com

© Reuters. The dollar retreated across the board in Asia on Thursday morning Investing.com – The dollar retreated across the board in Asia on Thursday morning, but remained well above the 90 level as the U.S. 10-year Treasury yields continued to weigh on the currency market. Meanwhile, Australia reported bullish import and export price index. The that tracks the greenback against a basket of six major currencies last stood at 90.99, down 0.04% at 10:50PM ET (02:50 GMT). Although it…

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CFTC Charges Pennsylvania Resident Michael Salerno And His Entities With Solicitation Fraud And Misappropriation In Connection With Retail Forex Transactions In Violation Of The Commodity Exchange Act

CFTC Charges Pennsylvania Resident Michael Salerno And His Entities With Solicitation Fraud And Misappropriation In Connection With Retail Forex Transactions In Violation Of The Commodity Exchange Act – Federal Court Order Freezes Assets And Protects Books And Records Of Defendants And Relief Defendants Skip to main Content …

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Naira Stable at N363/$ Parallel Market

The Nigerian Naira, on Wednesday, April 25, remained on unchanged against the United States of America Dollar at the parallel segment of the Nigerian Foreign Exchange Market. The local currency,at the close of market activities remained at the rate of N363 against the greenback at the black market. Against the British Pound Sterling, the Naira appreciated, closing at the rate of N505 and stayed the same against theEuropean Single Currency, Euro at the rate of N445. Traders at the forex market…

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