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 of your initial investment; do
News
The increase in oil output agreed last month by OPEC+ nations could be reconsidered at its next meeting on Sept. 1, Kuwait’s oil minister said on Sunday. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, will meet on Wednesday to discuss the previously agreed increase of 400,000
The closely-awaited Jackson Hole speech by Fed chair Powell reaffirmed that QE tapering would begin later this year. While being more upbeat about the progress of employment and inflation, Powell warned of the downside risks posed by the rapid spread of the delta variant. He also attempted to de-link taper and rate hike, causing instant
Singapore has hit its 80% fully inoculated target (the population of Singapore is 5.7 million people). Singaporean authorities have previously said they’ll be further easing COVID-19 restrictions after hitting the 80% milestone. Great work SG. Meanwhile in Australia: Sydney (NSW state as a whole, but most is Sydney) reported 1026 on Saturday and reported 1218
Consolidation or a short pause? 10-year Treasury yields nearly touched 1.36% just before Powell’s speech but they’re down to 1.32%, highlighting that the bond market is less worried about a September taper. I think the market discussion will shift away from a Nov/Dec/Jan timing on tapering decision to more of a focus on the pace.
Physical gold demand in India was subdued this week as jewellers held off purchases, hoping for a dip in prices, but top consumer China saw a slight uptick in activity. Dealers in India were charging a premium of up to $2 an ounce over official domestic prices, inclusive of 10.75 per cent import and 3
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward. Contact us: contact@actionforex.com
Natural gas up another 4.5% today A tight US storage report yesterday sent natural gas prices into overdrive, spiking 6% yesterday and another 4.5% today. Prices at Henry Hub are at $4.37 per MMBtu, which was a pipedream a year ago when they were at $1.80. For the Fed, this adds a complication to the
Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium didn’t disappoint. He did what the markets expected, affirming the openness for beginning tapering this year, without indicating the need for an imminent start. Just as Philadelphia Fed President Patrick Harker described, Powell laid out where the center of the FOMC is in terms of
The government’s Gold Monetisation Scheme (GMS) allows you to deposit your idle gold with a Reserve Bank of India (RBI) designated bank and earn interest on the same. This works similar to a bank fixed deposit. Depending on the tenure of the GMS one opts for, one can earn up to 2.5% interest per annum.
Forex news for North American trading on August 27, 2021. The forex markets (and other markets for that matter) have been tending to go from key event to key event. This week, it was the keynote address from Fed Chair Powell at the Jackson Hole virtual summit. For good order sake, that summit was schedule
LONDON: Oil prices rose on Friday and were on track to post big gains for the week on worries about supply disruptions as energy companies began shutting production in the Gulf of Mexico ahead of a possible hurricane forecast to hit on the weekend. Brent crude futures were $1.22, or 1.7 per cent, higher at
Japanese yen has been rather stable over the past weeks despite volatility in other major currencies. It’s resilient performance over the past few days despite heightened FOMC tapering talks is no accident. We summarize three major drivers of this. Funding Currency Firms on Risk Aversion A key theme of USD’s strength over the past weeks
Powell coming in an hour USD/JPY has slipped back to 110.03 from 110.20 a short time ago. The move is in-line with a slip in Treasury yields in the past few minutes. The PCE report showed that prices might be cresting, or at least they will relieve some of the pressure on the Fed to
New Delhi: Gold in the national capital on Friday gained Rs 99 to Rs 46,312 per 10 gram amid a recovery in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,213 per 10 gram. Silver, however, dipped marginally by Rs 32 to Rs 61,667
Overall markets continue to trade in a mixed manner for now. Yen and Dollar are currently the weakest for the weak while commodity currencies are the strongest. But all major pairs and crosses are stuck inside prior week’s range. The situation in Afghanistan is unlikely to be a persistent worry for investors. Main focuses will
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 of your initial investment; do