FOREX Trading

A Weaker Chinese Yuan: Contagion Or Confusion For Global Currencies?

By Viraj Patel, Foreign Exchange Strategist While weakness in the Chinese yuan (CNY) is being touted as a source of global market risk, we find limited evidence of broad-based contagion from independent CNY weakness – with the spillover effects varying across regions and specific currencies. Our view for a more stable CNY could see Asia FX tactically outperform the more vulnerable CEEMEA FX space Key messages: Limited signs of broad-based contagion from a weaker CNY While in the currency space,…

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FXsolutions offers free Forex trading tool for retail traders

FXsolutions offers free Forex trading tool for retail traders Aug 10, 2018 (AB Digital via COMTEX) — FXsolutions has positioned itself as one of the leading providers of reliable forex trading solutions to all level of traders, with a wide range of unique solutions designed to help traders get the best returns on their decisions. As part of the company’s goals of ensuring that everyone is able to profit from the forex market by making winning trades, FXsolutions is offering…

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Turkish Crisis Rattles Currency Markets

The Turkish lira tumbled as much as 12% against the dollar Friday, a shock that set off sharp falls in other emerging-market currencies and in the shares of several big European banks. Investors have questioned for months Turkey’s financial health and its ability to repay foreign debts. Until Friday, those concerns had shaken only Turkey directly, but they have now spread into the wider market. By… Source link

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Booking Holdings (BKNG) Q2 2018 Earnings Conference Call Transcript — The Motley Fool

Image source: The Motley Fool. Booking Holdings (NASDAQ:BKNG) Q2 2018 Earnings Conference CallAug. 9, 2018 8:00 a.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Welcome to Booking Holdings second-quarter 2018 conference call. Booking Holdings would like to remind everyone that this call may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance and are…

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Foreign currency scarcity our major hurdle: Chigiya

Govt must open up the market in a way that is reasonable for everybody to access foreign currency freely, without prohibitive regulations. Plastic manufacturer Proplastics remains optimistic of a bright future regardless of the foreign currency woes and numerous other problems that the country continues to face. Business reporters Melody Chikono and Kuda Chideme (ZI) this week caught up with Proplastics CEO Kuda Chigiya (KC) to discuss this and other issues. Below are excerpts of the interview: ZI: You indicated…

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Westport Fuel Systems Reports Second Quarter Fiscal 2018 Financial Results – FOREX Trading News Today

Westport Fuel Systems Reports Second Quarter Fiscal 2018 Financial Results – FOREX Trading News Today – EIN News Trusted News Since 1995 A service for FOREX trading professionals · Friday, August 10, 2018 · 458,258,551 Articles · 3+ Million Readers News Monitoring and Press Release Distribution Tools Press Releases Events & Conferences Source link

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On August 1, gold and foreign exchange reserves of the Republic of Belarus totaled USD7 billion

Belarus : On August 1, gold and foreign exchange reserves of the Republic of Belarus totaled USD7 billion Aug 09, 2018 (Euclid Infotech Ltd via COMTEX) — As of August 1, 2018, the volume of gold and foreign exchange reserves of the Republic of Belarus according to the preliminary data accounted for USD7,030.2 million in the equivalent. In July 2018, gold and foreign exchange reserves increased by USD198.8 million (by 2.9%) after a decline in June 2018 by USD108.2 million…

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Market wrap: FX and bond markets showed signs of risk aversion

Analysts at Westpac explained that the FX and bond markets showed signs of risk aversion with emerging markets under pressure, especially Turkey and Russia.  Key Quotes: “Equities were resilient however. AUD/USD dropped 0.5c to 0.7380 though NZD was weakest in the G10 in the wake of the RBNZ statement. Today we see the RBA’s Statement on Monetary Policy, Japan Q2 GDP and US July CPI.” “The US dollar rose against all major currencies aside from safe havens CHF and JPY,…

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Turkish lira sinks to new record lows as currency crisis deepens

The Turkish lira plunged to a record low today against the US dollar as investors questioned the ability of the Erdogan regime to stop a deepening currency crisis. One dollar bought as much as 5.5670 lira in evening trading, as the troubled Turkish currency fell by almost five per cent in the course of the day. Investors fled Turkey’s sovereign debt. The spread between a Turkish government bond maturing in February 2028 and the benchmark US 10-year – a measure…

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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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