Foreign exchange: SBP’s reserves increase $19m to $10.37b

Reserves rise for the second week in a row. PHOTO: REUTERS KARACHI: Foreign exchange reserves held by the central bank have increased by 0.19% on a weekly basis, according to data released on Thursday. A week ago, the reserves had swelled around 15% after a news report said China had agreed to immediately give a loan of $2 billion to Pakistan, a move meant to arrest the slide in foreign currency reserves and provide much-needed breathing space to the new government.…

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EUR/USD Forex Low 1 Bear Flag Will Probably Grow Into Low 2

The daily Forex chart rallied for 2 days from a double bottom with the June 28 low. However, after 5 bear bars, the bulls will need a micro double bottom. Furthermore, the odds now favor a break below the June low after a micro double top bear flag. The EUR/USD daily Forex chart had 5 consecutive bear trend bars. While they were not big, that is the longest streak up or down in the 3 month trading range. Charts have…

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EMERGING MARKETS-Rocky U.S. ties shake Russian, Turkish…

By Claire Milhench LONDON, Aug 9 (Reuters) – Russian assets tumbled on Thursday as a new U.S. sanctions move against Moscow unsettled investors, while rocky relations with Washington – along with unease about the economy – also sent Turkey’s lira to another record low. Washington’s latest sanctions move – over what Moscow called far-fetched assertions it had deployed a nerve agent in Britain against a former Russian agent and his daughter – will cover national-security controlled goods, hitting Russian exports…

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Daily Forex Update For August 8: GBP/USD

continues to fall inside the clear Down Channel chart pattern which was previously identified by Autochartist on the daily charts. Autochartist rates the quality of this Down Channel at the 4-bar level – which reflects the slow Initial Trend (4 bars), lower Uniformity (2 bars) and above-average Clarity (6 bars). GBP/USD is expected to fall further inside this Down Channel – in line with the recent breakout of the major support level shown below. GBPUSD 93 Candles As can be…

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FOREX-Yen broadly higher as markets speculate on c.bank…

FOREX-Yen broadly higher as markets speculate on c.bank policy, kiwi tumbles on dovish RBNZ By Reuters Published: 21:13 EDT, 8 August 2018 | Updated: 21:13 EDT, 8 August 2018 By Shinichi Saoshiro TOKYO, Aug 9 (Reuters) – The yen was broadly higher on Thursday on trade tensions and on revelations the Bank of Japan is under pressure to move away from its accommodative policy, while the New Zealand dollar slid on a decidedly dovish policy stance by nation’s central bank.…

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Trey Reik | The FED’s Impact on Peripheral Markets-P.GENERAL-Stockhouse news

Trey Reik, senior portfolio manager with Sprott USA, speaks with Maurice Jackson of Proven and Probable about the Fed’s recent actions and what affect they are having on the gold and other markets. Maurice Jackson: Welcome to Proven and Probable. I’m your host Maurice Jackson. Joining us for a conversation is Trey Reik, senior portfolio manager with Sprott USA. We’re delighted to have you here today to discuss the Federal Reserve’s impact on peripheral markets. Mr. Reik, the Fed is in the…

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Asiana shifts to H1 net loss on FX losses, fuel costs

SEOUL, Aug. 8 (Yonhap) — Asiana Airlines Inc., South Korea’s second-biggest airline by sales, said Wednesday it swung to a net loss in the first half as a strong won drove up currency losses and fuel costs. Asiana Airlines reported it was in the red by 54.8 billion won (US$49 million) for the January-June period, shifting from a net profit of 21.3 billion won a year earlier, the company said in a statement. “The airline suffered 72.6 billion won in…

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LIVE MARKETS-Closing snapshot: European shares close lower – Finance News

* European stocks end slightly lower * Healthcare biggest weight on STOXX * But FTSE hits 8-week high as pound drops * Wall Street opens little changed LONDON, Aug 8 (Reuters) – Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Reach him on Messenger to share your thoughts on market moves: julien.ponthus.thomsonreuters.com@reuters.net CLOSING SNAPSHOT: EUROPEAN SHARES CLOSE LOWER (1551 GMT) Falls across health stocks…

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LIVE MARKETS-Watch out for trade war margin pressure – Finance News

* European stocks inch lower * Healthcare biggest weight on STOXX * But FTSE hits 8-week high as pound drops * Wall Street opens little changed LONDON, Aug 8 (Reuters) – Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Reach him on Messenger to share your thoughts on market moves: julien.ponthus.thomsonreuters.com@reuters.net WATCH OUT FOR TRADE WAR MARGIN PRESSURE (1406 GMT) While margin pressure has…

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Pound Falls Below $1.29 for First Time in a Year By Investing.com

© Reuters. Investing.com – The pound fell below $1.29 for the first time since August 2017 on Tuesday, amid worries that the before exiting the bloc in March of next year. At 6:05 AM ET (10:06 GMT), fell 0.27% to 1.2903, recovering the 1.29 handle after hitting an intraday low of 128.93. Sterling also weakened against the euro, hitting its lowest level since November. was last up 0.28% at 0.8986, not far from an intraday high of 0.8992. The pound…

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China Uses Lower-Profile Swaps Market to Bolster Yuan

Aug. 7, 2018 11:05 a.m. ET SHANGHAI—The yuan’s recent slide has been dramatic. Without some discreet expectations management on Beijing’s part, it could have been even more striking. Traders at four major financial institutions in Shanghai said the People’s Bank of China has shifted away from traditional intervention, or selling billions of dollars to buy yuan, instead acting through lower-profile foreign-exchange swaps. “The PBOC is guiding people’s expectations in the forward market as it doesn’t want to waste money in…

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CBN injects $210m into forex market

The Central Bank of Nigeria (CBN) yesterday injected $210 million into the inter-bank Foreign Exchange (forex) Market. The move was meant to boost forex availability and also meet customers’ requests in various segments of the market. At the forex trading, the CBN offered $100 million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment received $55 million. Customers requiring foreign exchange for invisibles, such as tuition fees, medical payments and Basic…

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CBN injects $210m in foreign exchange market – Punch Newspapers

The Central Bank of Nigeria has injected 210 million dollars into the inter-bank Foreign Exchange Market to meet customers’ requests in various segments of the market. The CBN Acting Director of Corporate Communications, Mr Isaac Okoroafor in a statement on Tuesday, said that 100 million dollars was offered to authorised dealers in the wholesale segment of the market. He said 55 million dollars was allocated to the Small and Medium Enterprises segment while customers who require foreign exchange for tuition fees,…

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JD.com Sell-Off Amid Trade War Is A Market Overreaction, For Now – JD.com (NASDAQ:JD)

Overview Triggered by the China-US trade war, stocks of JD.com (JD) dropped by 16% since June 15, 2018. And JD is not the only one – for the past two months, most of China concept stocks such as Sina (SINA) and Alibaba (BABA) experienced huge selloffs. What material impact does the trade war have on JD’s operations? Is the market reaction simply driven by pessimistic sentiments, or is the clash over trade going to be reflected on JD’s financials? Domestic…

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Why investing in Forex is a good idea

Over the years, more and more investors have decided to give up stocks and bonds. Instead, they’re looking for something easier and friendlier. This is why many have decided to make the stick to Forex. Forex can be risky, but it can deliver far more benefits than the alternatives. Forex is readily available and it is going to give investors the ability to invest far more. Within this guide, investors will learn more about the perks of investing in the…

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