Trading Forex

INR spooked by election headlines

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By Kenan Machado  @kenanwsj India’s stocks and currency swung sharply in the first hour of trading, taking attention from strong bank-fueled gains in Japan and Australia and the start of bitcoin trading on the world’s largest futures exchange. The rupee briefly hit a three-month low versus the dollar and the Sensex stock benchmark in India fell as much […]

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The US dollar headwinds are surfacing

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: Asian markets rallied on Monday, tracking fresh records on Wall Street, while the dollar held gains as Donald Trump’s much-hyped tax cuts moved a step closer to being passed. The controversial reforms look destined to become the US president’s first major congressional victory as two key Republican holdouts in the Senate decided to back the […]

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BNM could raise interest rates twice in 2018 ( Radio interview)

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Presented by: Tan Chung Han Stephen Innes, Head of Trading in Asia-Pacific, OANDA, Singapore According to Stephen, Malaysian interest rates could be hiked in January 2018, given the ‘fantastic numbers’ from the local economy. Stephen also provides his near-term outlook on the dollar and the ringgit. BFM Radio Kuala Lumpur Powered by WPeMatico TweetShare

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Ringgit slightly weaker at the open in thin trading

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KUALA LUMPUR, Dec 18 — The ringgit opened lower against the US dollar today on weak demand for the local note. At 9 am, the local unit stood at 4.0820/0870 from 4.0780/0810 on Friday’s close. OANDA Head of Trading Asia-Pacific, Stephen Innes, said despite the weaker number at the opening, the stable oil prices, healthy economic outlook and a more hawkish […]

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A Bumpy Ride on the Rand this morning

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The currency traded at 13.0989 per dollar as of 9:50 a.m. in Tokyo after earlier touching 12.9055, the strongest level since Sept. 12, according to data compiled by Bloomberg. Against the euro, it approached a five-month high and was at 15.3891. Traders are betting Cyril Ramaphosa will win the election after gaining more branch nominations […]

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Easing into the holiday season, not so quick !

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Easing into the holiday season, not so quick  USD regained some steam heading into the weekend as did US equity markets as  Tax reform finality is in sight. G10 dealers are expected to ease into Christmas and New Year break. So expect low liquidity, and year-end flows will begin to factor into the equation. So […]

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US Tax Reform to Guide Markets Ahead of Holidays

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Fed hiked as expected with ECB and BoE keeping monetary policy untouched The USD will finish the week mixed against major pairs. The much awaited December rate hike came, but with no further guidance the US dollar remains vulnerable to the outcome of the Republican tax reform vote. A simple majority is needed to pass […]

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Germany’s SPD Agrees to Coalition Talks

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Germany’s Social Democrats have agreed to open exploratory talks on forming a government with Chancellor Angela Merkel, a party source said, raising hopes for an end to a rare period of political deadlock in Europe’s largest economy. Leader Martin Schulz met party bosses and recommended that they should go back on a pledge to go […]

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U.S Industrial Output Increases 0.2% in November

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U.S. industrial production rose less than expected in November as a drop in utilities output offset a post-hurricane rebound in the oil and gas industries and the third consecutive monthly advance for manufacturing, the Federal Reserve said on Friday. Overall industrial output rose 0.2 percent following an upwardly revised 1.2 percent gain in October. Economists […]

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EU launches next phase of Brexit

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The European Union agreed on Friday to move Brexit talks onto trade and a transition pact but some leaders cautioned that the final year of Britain’s divorce negotiations could be fraught with peril. On the second day of a Brussels summit, EU leaders agreed “sufficient progress” was made after a deal on citizens’ rights, the […]

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Bitcoin hits new record high as warnings grow louder

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Bitcoin blasted to another all-time high of almost $18,000 on the Bitstamp exchange on Friday, up 9 percent on the day, as warnings grew over the risks of investing in the highly volatile and speculative instrument. The cryptocurrency’s staggering recent price rises — more than 1,700 percent since the start of the year — have […]

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Canada: Monthly Survey of Manufacturing, October 2017

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Manufacturing sales declined 0.4% to $53.5 billion in October, following two consecutive monthly increases. Sales fell in 8 of 21 industries, representing 56.0% of the manufacturing sector. Sales of motor vehicles and other transportation equipment accounted for most of the decline in October. Excluding these two industries, manufacturing sales increased 0.5%. In constant dollars, sales […]