FOREX Trading

Dollar Struggles, Sheds 0.14% Against Major Currencies

The United States  of America dollar depreciated on Tuesday, December 19, for a second consecutive day on Tuesday as investors took the view that a major U.S. tax overhaul would be unlikely to boost the economy significantly, with most major currencies trading in tight ranges in a relatively thin market. The dollar, measured against a broad trade-weighted basket of major currencies, was down 0.14 percent .DXY. The euro EUR=EBS was up 0.2 percent at 1.1808 against the dollar, and broadly…

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Dr M files suit against Najib and gov’t over forex RCI

Former premier Dr Mahathir Mohamad today filed an originating summons against the six members of the Royal Commission of Inquiry (RCI) over the report on the foreign exchange losses in the 1990s, as it is described to be incomplete. He named all six members of the RCI namely Mohd Sidek Hassan, Kamaludin Md Said, Tajuddin Atan, Saw Choon Boon, K Pushpanathan and Yusof Ismail, along with Prime Minister Najib Abdul Razak, the cabinet and the government as defendants. The suit…

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Weekly FX Update – 18 December 2017 (Video)

Posted 1 hour agoShare Print In this weeks FX update, Senior Market Analyst Craig Erlam talks about the events that will likely impact the markets in what is likely to be a quieter than normal week. While the festive period will likely take its toll, it is worth noting that there are a number of important pieces of data being released this week as well as a monetary policy announcement from the Bank of Japan. With US President Donald Trump desperate to deliver tax…

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Dangote Sugar: Investors soft-pedalling, but still beat analysts’ target price

Home | News | General | Dangote Sugar: Investors soft-pedalling, but still beat analysts’ target price Cleric urges FG to embrace agriculture BIAFRA: Igbo youths right on agitation, wrong on strategy – Nwodo …What the future portends By Emeka Anaeto, Business Editor THE Renewed bull-run on the stock of Dangote Refinery Plc, appeared to have placed it on a comfortable lead ahead of analysts’ projections despite the 1.14 percent decline it recorded towards end of last week. The two-day loss…

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Policy Mix Underlines Positive Fundamental Backdrop For The Dollar

The prospects that the Republican-controlled legislative branch would find a compromise to tax cuts were enhanced when a few senators appeared to capitulate without much to show for it may have helped lift US stocks and dollar ahead of the weekend. Each chamber must now approve the reconciliation measure, which does not look particularly like either the House or Senate bills, though the regressive thrust was maintained. Passage will be relatively easy in the former, but it will be a…

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As shock waves and fears over rise of populism subside, markets look likely to hold steady course in new year

Marine Le Pen’s failure in the French presidential election was welcomed by the markets. As shock waves and fears over rise of populism subside, markets look likely to hold steady course in new year The rise of populism in the major economies of the western world throughout 2016 sent shock waves through global markets. As 2017 approached, there was a growing expectation that the election of President Donald Trump and the reality of Brexit would result in such a…

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Hurriyat- The New Indian Express

Hurriyat leader Syed Ali Shah Geelani | PTI SRINAGAR: Hardline Hurriyat Conference today termed the Enforcement Directorate’s notice to its chairman Syed Ali Shah Geelani as “biased and unrealistic”. The ED had served the notice on December 13 to Geelani to appear before it on Monday for adjudication proceedings related to a foreign exchange violation case involving USD 10,000 “illegally” possessed by him in 2002. “The notice to Geelani is biased and unrealistic. Indian authorities have crossed all democratic, constitutional…

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Sentiment Speaks: Explaining My Amazement About Those Turning Bullish On The Banking Sector Now – Financial Select Sector SPDR ETF (NYSEARCA:XLF)

Recent price action With the Nasdaq continuing higher this past week, it has now reached our minimum target we were looking for before a pullback may be seen. But, I think the XLF may be providing us with certain clues about how 2018 may turn out. And, it may not be as rosy as many believe. Well, at least the first half of the year. Anecdotal and other sentiment indications Interest rates are rising. Tax obligations will likely be dropping.…

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Fixed Income Market remains toast of investors as yields fall – Punch Newspapers

What shaped the past week? Global Markets:  Global markets traded mixed this past week, with investors focused on announcements from various central banks as well as economic data. U.S. markets began the week on a positive note, driven by positive sentiment around tech and energy stocks coupled with optimism around the proposed tax reforms. While bullish trading strengthened at mid-week – after the U.S. Federal Reserve raised its 2018 GDP forecast to 2.5% from 2.1%, and raised Federal Funds target…

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Drama As Robbers Pounce On Forex Dealer

Three knife wielding robbers allegedly attacked a Beitbridge based forex dealer and stole $3 350 before dumping him in a bush.  The suspects allegedly lied to the forex dealer that they wanted to conduct their deal in a car and after driving for some time they pounced on him and robbed him of the cash before dumping him. Matabeleland South acting provincial police spokesperson, Assistant Inspector Loveness Mangena confirmed the incident which occurred on Tuesday. She said three suspects Sindiso…

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MPs express hopes, fears about bitcoin’s entry into Iran market

Bitcoin, a cryptocurrency and worldwide payment system, is still mostly unknown in Iran’s general economic environment. A momentary silence in tandem with a bewildered look on their faces requesting more information, is all the reaction most of the ordinary people in the country produce when hearing the economic term. However, a large number of Iranians failing to know much about bitcoin and its function, usage and advantages over other currencies, does not mean that the country’s foreign exchange market is…

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The hot spots that defined a year of emerging-market ebullience

(c) 2017, Bloomberg. 2017 is set to go down as the year when easy monetary policy and budding global growth came together to deliver blockbuster returns for the world’s emerging markets. Currencies and stocks in developing economies are on track for their biggest rallies in eight years as even the riskiest markets shrug off crises and threats to deliver gains for investors. Bonds, too, have had a good run, with local-currency emerging-market debt returning the most since 2012 amid the…

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Wholesalers get a windfall following currency depreciation – Newspaper

KARACHI: After three days of stability in the exchange rate, importers released their products in the market that they had been holding back for a week. The dollar was traded in the range of Rs110.20-110.50 in the interbank market during the last session on Friday. The rupee started losing value against the dollar on Dec 8. It lost about 4.7 per cent during the week. Currency dealers said the State Bank of Pakistan (SBP) used its influence to bring imported…

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FX, network of ‘Atlanta’ and ‘The Americans,’ could be a victim of Disney-Fox consolidation

To its fans, FX has offered some of the most compelling television of recent years, with “The Americans,” “Atlanta,” “Justified” and that O.J. dramatization everyone couldn’t stop talking about. To watchers of the Disney-Fox merger, the cable network offers something else: a giant enigma.  With FX among the 21st Century Fox assets sold to Disney, a question has percolated through Hollywood: Can the network and its beloved programs survive?  “FX has been responsible for some really great television, but these…

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Tax reform votes start to line up and helps propel stocks/the USD

Forex news for NY trading on December 15, 2017 A snapshot of markets near the end of the week are showing: Spot gold of $2.80 or 0.22% at $1255.73 WTI crude oil futures up $.30 or 0.53% at $57.34 US yields are mixed with the yield curve continuing to flatten: 2-year 1.8358%, +2.4 basis points.  5-year 2.1504%, +1.2 basis points. 10 year 2.3494%, unchanged. 30 year 2.685%, -2.1 basis points US stocks advanced.  S&P index +0.9%.  NASDAQ composite index +1.17%.…

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