Last week’s shopping package Yesterday, the economic calendar was easy, starting from Switzerland’s KOF economic barometer, which showed good progress this month, followed by Spain’s consumer inflation CPI (Consumer Price Index). Inflation in Spain rose to 5.8% this month, while German GDP showed a 0.2% drop in economic activity for Q4. Mostly forex majors traded … Read more
Yesterday’s shopping package The market’s focus shifted to Jerome Powell after the US dollar weakened following the ISM service cut last Friday, although he did not touch on monetary policy and rate hikes. Traders took that as a reassuring sign that the US dollar continued to decline on Tuesday, while risk assets continued their bullish … Read more
Indian Rupee It has fallen more than 11 percent against the dollar in 2022 — its weakest performance since 2013 and the worst among Asian currencies — as the U.S. Federal Reserve’s aggressive monetary policy spurred the greenback back. Rupee in 2010 It closed 2022 at 82.61 to the U.S. dollar, down from 74.29 at … Read more
Last week’s shopping package Last week was supposed to be quiet, after the last major events for 2022 took place in the previous two weeks, with the US consumer inflation report and rate hikes from several central banks, which ultimately left markets uncertain. However, we were wrong as the volatility seems to continue until the … Read more
S&P Global Ratings has downgraded Pakistan’s long-term sovereign credit rating to ‘CCC+’ from ‘B-‘. Pakistan, whose foreign exchange reserves are already below $7 billion, will continue to under pressure in the coming year, S&P said in a statement. Increasing instability due to the current political and security situation has exacerbated Islamabad’s problems. Currently, Pakistan’s foreign … Read more
Post Views: 0 Before we go deeper, let’s draw you to some of the basic concerns in the Forex market. Investors can gain (or suffer losses) from currency appreciation or depreciation by trading foreign currencies, or “Forex”. For example, an investor who buys EUR/USD is considered to be forecasting(s) that the value of the … Read more
Pakistan’s stock exchanges started the week on the back of uncertainty over the country’s foreign exchange reserves amid uncertainty over when the ninth review of the International Monetary Fund (IMF) would be completed. Pakistan’s foreign exchange reserves It stood at a historic low of $7.5 billion for the week ending Nov. 25 — enough to … Read more
Mumbai: The Indian Rupee gains against the US currency in the forex market. A weaker US dollar supported the local currency. However, weak domestic equities and foreign fund inflows weighed on it and limited gains. In interbank foreign exchange, the local currency opened at 81.11 against the US dollar, then settled at 81.08, registering an … Read more
Yesterday’s shopping package The US dollar continued its mid-week decline as the FOMC minutes sounded a bit hawkish as the US manufacturing PMI fell last week. Although volatility eased over the weekend, US markets were closed for the Thanksgiving holiday. But volatility picked up yesterday and the US dollar continued to slide, falling nearly 2 … Read more
Mumbai: The country’s foreign exchange reserves in 2018 It increased by $2.5 billion in the week ending November 18.This is the second week in a row that forex stocks have risen. An increase in reserves reflects the appreciation of non-dollar investments and an improvement in direct purchases of dollars. RBI.Foreign exchange reserves hit a record … Read more