High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Month: October 2022
Curtis Loftis, the treasurer for the U.S. state of South Carolina, spent five days in El Salvador as part of an “exploratory trip” on cryptocurrencies. According to an Oct. 5 announcement, Loftis was part of a delegation including South Carolina business leaders, rural health officials, and individuals “interested in the expansion of cryptocurrency and blockchain
A panel of OPEC+ ministers recommended a cut to the group’s output limits of 2 million barrels day as they seek to halt a slide in oil prices caused by the weakening global economy. The recommendation from the cartel’s Joint Ministerial Monitoring Committee will be discussed by ministers later on Wednesday before they make a
This week’s rebound in global stock markets is losing momentum, as major European indexes and US futures are trading lower. Dollar recovers and lead Yen and Swiss Franc higher. Meanwhile, the rebound in Sterling also appears to have exhausted. Aussie and Loonie are following the Pound and next weakest while Kiwi is supported by RBNZ
The U.S. labor market showed strength in September, with private companies adding more jobs than expected, payroll services firm ADP reported Wednesday. Businesses added 208,000 for the month, better than the 200,000 Dow Jones estimate and ahead of the upwardly revised 185,000 in August. Those gains came even as goods-producing industries reported a loss of
Fitch Ratings has revised the Outlook on the Bank of England’s (BoE) Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to Negative from Stable and affirmed the IDR at ‘AA-‘. Fitch reports that it has ”revised the Outlook on the UK’s sovereign rating of ‘AA-‘ to Negative from Stable. The BoE’s Long-Term Foreign-Currency IDR is directly aligned
Gold moved back above its downward sloping trendline The price of spot gold has moved up 5 last 6 trading days (the one down day was just by $1or $2). The move to the upside took the price from the low on September 28 at $1614.92. The high price today has reached $1729.46. That’s a
UK business activity slides in Sept by most since early 2021 -PMI UK S&P Services PMI Final: 50.0 (Forecast 49.2, Previous 49.2) British businesses last month suffered the sharpest contraction in activity since early last year, although the downturn was a little less severe than first estimated, a survey showed on Wednesday. “Service sector businesses
MELBOURNE: Oil prices inched up on Wednesday extending 3% gains in the previous session ahead of a meeting of OPEC+ producers to discuss a big output cut in what energy executives and analysts see as a tightly supplied market. Brent crude rose 11 cents to $91.91 a barrel at 0001 GMT, after climbing $2.94 in
New Zealand Dollar rises broadly in quiet markets today, after RBNZ delivered the 50bps rate hike as widely expected, clearing the doubt that it will follow RBA and opt for a smaller hike. Dollar remains the worst performer of the week, following strong risk rebound in stock markets, while yields weakened. Yen is the second
The number of job openings plunged by more than a million in August, providing a potential early sign that the massive U.S. labor gap is beginning to close. Available positions totaled 10.05 million for the month, a 10% drop from the 11.17 million reported in July, according to a Bureau of Labor Statistics release Tuesday.
Gold price is fading its bullish momentum this Wednesday. As FXStreet’s Dhwani Mehta notes, 50 DMA appears a tough nut to crack for XAU/USD bulls. The pullback in the bullion appears temporary “A sustained break above the bearish 50-Daily Moving Average (DMA) at $1,724 is needed to challenge the September highs at $1,735, above which
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The RBA raised rates by 25 basis points which was less than the 50 basis point mostly expected by the market. The action initially sent the AUDUSD lower. It then rallied higher extending above the highs from last week but only by a few pips before rotating back to the downside. AUDUSD trades up and
US equities are now up more than 5% in just two trading days in October. That’s an phenomenal start after a 9% decline in September. Today’s changes: S&P 500 +112 points to 3790 or +3.1% DJIA+2.8% Nasdaq +3.3% Russell 2000 +3.9% Toronto TSX +2.6% Bear market rallies can be incredibly powerful and this certainly looks
The United States Commodities Futures Trading Commission can serve members of the Ooki decentralized autonomous organization, or DAO, with summons through online communications, according to a federal judge. In an Oct. 3 order granting a CFTC motion, U.S. District Judge William Orrick said the commission could provide a copy of its summons and complaint through