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“Renewed US-China trade tensions not only translates to renewed global downside risks that are constructive the USD, but have specific read-through to other US trade policy initiatives,” says Daniel Hui, a strategist at J.P. Morgan. “First is Section 232 auto tariffs, for which the nominal deadline for a decision by Trump is May 18th…Presumably, in light recent events and Trump’s own rhetoric, the probability of a near-term auto tariff announcement, over a pass or a delay, has come up materially.”
As an alternative to the American currency, Russia started using the euro more frequently. The share of the euro rose from 9.1 percent in 2013 to 17.3 percent in 2018. The increase in the share of the euro was made possible largely due to Russian trading partners, especially China, which sharply increased the share of euro payments for Russian goods. For example, the share of payments in euros amounted to only 0.7 percent in the first quarter of 2018, but by the end of the year it had grown to 13.5 percent.
Key Reasons to Purchase Cloud GIS Market Report: 1) To understand the most affecting driving and restraining forces in the market and its impact in the global market. 2) Learn about the market strategies that are being adopted by leading respective organizations. 3) The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. The historical data from 2012 to 2017 and forecast data from 2019 to 2025. 4) The growth factors of the market is discussed in detail wherein the different end users of the market are explained in detail. 5) Data and information by manufacturer, by region, by type, by application and etc, and custom research can be added according to specific requirements. 6) Complete understanding of consumption by individual product segments to line up your sales and marketing efforts with the latest trends in the market.
@mady, Currency appreciates only when rest of the world want to buy your products and services and also when your imports are less than your exports. In a free trade scenario the depreciation of your currency should fix trade deficit in few years without any invervention. Just free trade with India and China should fix our trade deficit under current Exchange rate but there is not free trade. The market fundamentals work in favor of Pakistan but by somehow our politicians and buerocrates never let the the private sector to grow properly – electricity shortage, gas shortage, corruption, water shortage, skilled labor shortage, lacking roads, railway …. list is long. Help IK to fix the economy.
All Content © Pound Sterling Live 2019. The news and information contained on this site is by no means investment advice. We intend to merely bring together and collate the latest views and news pertaining to the currency markets – subsequent decision making is done so independently of this website. All quoted exchange rates are indicative. We cannot guarantee 100% accuracy owing to the highly volatile and liquid nature of this market.
KARACHI: The Pakistani currency on Wednesday hit an all-time low of 146.25 rupees against the US dollar amid looming fears of further devaluation, just days after Pakistan signed a bailout deal with the International Monetary Fund. The $6 billion bailout package comes with strict reform conditions, including measures to maintain a free-floating exchange rate. After reaching the record low, the rupee closed at 144 against the dollar at the end of the trading day. Malik Bostan, president of the Forex Association of Pakistan, said he met with Prime Minister Imran Khan on Wednesday, who assured him that the IMF had not demanded further devaluation of the rupee. “The IMF has only demanded an exchange rate based on demand and supply,” Bostan told Arab News. “After the meeting with PM, dollar rates have started cooling down and will further stabilize. We have requested the government to impose a ban on rumors regarding the rupee that are hurting market sentiments. Predictions about the dollar (in) the media should be stopped.” Bostan said that Khan had consented to setting up a committee comprising officials from the State Bank of Pakistan, exchange companies and the Finance Ministry to resolve the issues faced by exchange companies. “We have informed him we can increase inflow of greenback from $5-6 billion to $7-8 billion provided agreements are facilitated with around 500 international companies operating in Pakistan,” Bostan said, adding that the PM had agreed to devise a mechanism to discourage the outflow of dollars from Pakistan by encouraging investment in the country. The International Monetary Fund and Pakistan reached a “staff level agreement” on Sunday for a $6 billion bailout package following months of negotiations on a deal that aims to bolster Pakistan’s flagging economy and perilously low foreign exchange reserves. Talks with the IMF began soon after Khan’s government was appointed last August but a package has been held up by differences over the pace and scale of reforms that Pakistan would be required to undertake. The IMF has pressed Pakistan to improve tax revenue collection, bolster foreign currency reserves and narrow a current account deficit expected to top 5 percent of gross domestic product this year. The Fund has also pushed Pakistan to embrace a flexible rupee policy. Pakistani officials fear these steps will further hurt economic growth, cause of spike in the key interest rate and push the Pakistani rupee further down. “A market-determined exchange rate will help the functioning of the financial sector and contribute to a better resource allocation in the economy,” the IMF said in a statement issued after the agreement. “The rumors of further devaluation of (the) rupee against dollar have squeezed the supply of the dollar and increased demand,” said Zafar Paracha, general secretary of the Exchange Companies Association of Pakistan. “Those holding dollars are not willing to sell, anticipating gains on devaluation.”
Stocks are a mature asset class. His logic is perfectly sound. As noted in the article the alternative to volatility and bubbles is a steady rise. But anyone observing a steady rise will rush to invest, accelerating the rise ahead of the trendline and creating a bubble. Over the long run the cryptocurrency bubbles are centered around a trendline of growing adoption.
Speaking to Finance Magnates, Craig Inglis, Head of Germany & Austria CMC Markets said : “The recent regulations in CFD trading have limited the risk of loss. This makes the product interesting for those investors who have so far shied away from the incalculable losses. In addition, the often lack of discipline in trading has now been prescribed by law as a result of the reduction in leverage.”
The Australian dollar extended its decline against the greenback to 0.6934 a new multi-month low but closed the day a handful of pips higher. Australian data disappointed, taking its toll on the local currency, as the NAB's Business Conditions Index for April decline to 3 from 7 previously, while the Business Confidence Index came in at 0, both missing the market's expectations. The better performance of equities in Europe and the US, however, limited the downward potential of the pair. This Wednesday will kick-start with the release of the Australian Westpac Consumer Confidence Index for May, previously at 1.9%, and Q1 Wage Price Index seen up by 0.6% quarterly basis vs. the previous 0.5%. The figures could be overshadowed by Chinese data, as the country will release April Retail Sales, Industrial Production and investment data.