FOREX Trading

Sterling Touches Day’s Lows after UK Inflation Data By Investing.com

© Reuters. Sterling touches day’s lows after UK inflation data Investing.com – The pound slid to the day’s lows on Wednesday after data showing that remained steady at a one-year low on May, despite pressure from higher oil prices. hit lows of 1.1312 after the release of the data and was trading at 1.3319 by 05:19 AM ET (09:19 AM GMT). The Office for National Statistics reported that the annual rate of inflation rose by 2.4% in May, unchanged from…

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And The Market Chose To Break To The Dollar Upside

I can’t say it was a marvelous day. However, I wasn’t really expecting a grand rush. Yesterday, I mentioned the Price Equilibrium Clouds and looking for a break to the upside. , and broke through the Clouds to push higher in the dollar. was rather reticent and basically provided a sideways move but still without breaking below the 4-hour Cloud low. Equally, decided to follow the Swissie’s sideways move. AUD/USD is struggling a bit but should see that it’s lagging…

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Dollar Stays Up While Attention Shifts to Fed Meeting By Investing.com

The dollar stayed strong in morning trade in Asia Wednesday Investing.com – The dollar stayed strong in morning trade in Asia Wednesday ahead of a policy meeting at the U.S. Federal Reserve expected to shed some light on how many times interest rates may go up this year. The dollar continued to gain against Asian currencies. The pair jumped 0.28% to 110.68, the highest since May 23. As a safe-haven currency, the yen often rises in times political tensions and…

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Trade risks: Trade risks are quite evident in markets if you look real hard

By Robert Burgess Following the disastrous Group of Seven summit this weekend, where President Donald Trump upended a carefully crafted effort at unity among the world’s top economic powers, it’s safe to say that most investors were probably expecting equities to stumble on Monday. Instead, the MSCI All-Country World Index of global stocks closed at its highest level since March 14. A sign of complacency? Perhaps, but digging a little deeper beyond the market headlines reveals a good amount of…

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Rupee at all-time low of 122/dollar in open market | Business | thenews.com.pk

Rupee at all-time low of 122/dollar in open market KARACHI: Low dollar inflows and devaluation of rupee at the interbank market sent the currency down to an all-time low of 122 against the greenback in the open market, dealers said on Tuesday. “In the kerb market, the local unit pulled down by sharp currency devaluation in the interbank dealings,” Zafar Paracha, secretary general at Exchange Companies Association of Pakistan said. “There is no demand-driven panic in the open market. Lower…

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CBN Injects $210m into forex market – Prompt News

ABUJA – The Central Bank of Nigeria (CBN) has made available the sum of $210million, to meet customers’ requests in various segments of the foreign exchange market. The apex Bank in its desire to meet customers’ needs in the various segments of the market, offered $100million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million.   According to figures obtained from the Bank on Tuesday, June 12, 2018, customers needing foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million. It…

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Price rise in forex market in line with economic realities

Recent fluctuations in the housing, gold and currency markets were predictable since conditions in these markets were ripe for significant rise in prices. Hence, an internal or external economic shock was enough to set the prices on their real course. In other words, the situation of these markets, which experienced stability from August 2013 until September 2017, was not in line with economic realities. This is because during the said period the inflation rate, on aggregate, was 60…

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Dollar Edges Higher on Upbeat Inflation Data as Fed Meeting Kicks Off By Investing.com

© Reuters. Investing.com – The U.S. dollar edged higher against its rivals Tuesday as upbeat U.S. inflation data reaffirmed price pressure were building as the Federal Reserve got its two-day meeting underway. The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.02% to 93.58. The Labor Department said Tuesday its core rose 0.2%, beating economists’ forecasts for a 0.1% rise. While year-on-year, the core CPI rose 2.2% from 2.5% the prior month.…

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GLOBAL MARKETS-Stocks, dollar steady after U.S.-North Korea summit – UK Money News

* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh * Dollar index dips after U.S.-North Korea summit * Broad world stock index creeps into positive territory * Trump, Kim agree on denuclearization but deal seen symbolic * Focus shifts to Fed, positive U.S. consumer data By Nick Brown NEW YORK, June 12 (Reuters) – World stock markets were little changed on Tuesday while the U.S. dollar fell slightly against an index of major currencies, as investors brushed aside a long-awaited U.S.-North…

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Markets Muted After Historic Singapore Summit, Oil Eases

Financial markets have offered a fairly muted response to the historical Singapore summit, despite President Donald Trump describing it as being “fantastic” and “better than anyone could imagine”. Global sentiment was initially elevated after the US President and North Korean leader Kim Jong-un signed a denuclearization agreement which eased geopolitical tensions. However, the lack of insight offered on the steps taken by both sides to reach this monumental goal left investors somewhat cautious. There is a suspicion that the muted…

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Market watch: KSE-100 plunges over 700 points as macroeconomic concerns increase

Benchmark 100-share index loses 1.6% to finish trading at 43,228.90. PHOTO: FILE KARACHI: Stocks reacted sharply to the developments on the economic front with the KSE-100 index losing almost 788 points in intra-day trading on Tuesday. Concern regarding the country’s economic outlook dragged the index lower, according to Topline Securities’ analyst Nabeel Khurshid. Investors are viewing the third round of devaluation with apprehension, he commented. There are concerns whether the devaluation was needed and if the strategy will work as it…

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Dollar Higher Against Yen after Trump-Kim Meeting By Investing.com

© Reuters. Dollar higher against yen after Trump-Kim meeting Investing.com – The dollar was higher against the yen on Tuesday after the historic summit in Singapore where U.S. President Donald Trump and North Korean leader Kim Jong Un pledged to work towards denuclearization on the Korean peninsula. was up 0.21% to 110.27 by 03:56 AM ET (07:56 AM GMT), near an overnight high of 110.48, the most since May 23. Market sentiment was boosted after Trump said would happen “very,…

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GLOBAL MARKETS-Stocks, dollar rise as Trump says US-North Korea summit really very positive

(Updates with fresh levels throughout, adds analyst comment) * MSCI ex-Japan up 0.2 pct, South Korea’s Kospi reverses losses * Trade volatile as U.S.-North Korea summit gets underway * Dollar rises to the highest in 3 weeks against yen By Swati Pandey SYDNEY, June 12 (Reuters) – The dollar jumped to a 3-week top on Tuesday and Asian shares rose as U.S. President Donald Trump said a summit meeting with North Korea’s Kim Jong Un had made “a lot of…

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BUSINESS IN BRIEF 12/6 – News VietNamNet

Code and barcodes are necessary to ensure safety Farmers of Chuc Son Fruit and Vegetable Cooperative in Chuong My district, Hanoi, check the bar code of their produce  The use of codes and barcodes on products has helped improve the competitiveness of enterprises and ensured effective monitoring on the origin of goods for consumers. However, to meet the requirements of management agencies and consumers, the application of codes and barcodes needs more comprehensive solutions relating to management and technology. Codes…

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Naira Slumps to N362/$ at Parallel Market

The Nigerian Naira on Monday, June 11, slumped against the United States of America Dollar at the parallel segment of the Nigerian Foreign Exchange Market. The local currency dropped one point against the greenback to exchange at the rate of N362 at the black market. Against the British Pound Sterling, the Nigerian currency remained unchanged at the rate of N490 at the parallel market. The naira against the European Single Currency, Euro slipped to close at the rate of N430. The Naira,…

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Kenya seeks to use local currency in power pricing

By NJIRAINI MUCHIRAMore by this Author In a move aimed at shielding consumers from foreign-exchange volatility — one of the components that contribute to high electricity costs — Kenya will start using the local currency in power purchase agreements (PPAs) between investors and the utility firm, Kenya Power. Although Kenyans are paying for electricity in shillings, they bear the burden of paying for forex adjustments for projects financed in hard currency which are passed on by Kenya Power every month.…

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