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China won't follow west by easing monetary policy – PBOC

An article published by China Finance magazine on Saturday quoted the People's Bank of China Governor Yi Gang as saying that the central bank won't employ larges-scale monetary loosening like the West and instead focus on the consumer price stability and exchange rates to help the economy recover. K
27 Sept

BOE’s Tenreyro: Evidence on negative rates is 'encouraging'

The Bank of England’s (BOE) study of the impact of negative interest rates to support the economy from the coronavirus pandemic-induced downturn revealed ‘encouraging’ evidence, said policymaker Silvana Tenreyro in a Sunday Telegraph interview published late Saturday. Key quotes “The evidence has be
27 Sept

Bibox Lists Meme and Rarible Tokens Amid Ongoing DeFi Craze

Photo: FM Digital asset exchange Bibox is the latest cryptocurrency exchange to hop on the DeFi bandwagon, having listed two decentralized finance tokens to reaffirm what it calls a commitment to the expanding new economy. Today, Bibox announced listing of Meme (MEME), which is touted as an experi
11 Sept

US: EIA Crude Oil Stocks Change at +2 million in week ending September 4

Crude Oil Stocks Change in the US was +2 million barrels in the week ending September 4th, the weekly report published by the US Energy Information Administration (EIA) revealed on Thursday. Analysts estimate was for a draw of 1.3 million barrels. Market reaction Crude oil's reaction to this report
11 Sept

GBP/NZD is about to test a 3 year trendline after a week of Brexit turmoil

GBP/NZD is over 1% lower on Thursday after more negative Brexit news. The price is heading towards some key technical levels on the downside. Fundamental backdrop The UK government have announced they could be breaking international law if they change the treaty but the UK want Nothern Ireland in t
10 Sept

Portugal Trade Deficit Narrows In July

Portugal's foreign trade deficit narrowed in July, amid declines in both exports and imports, figures from Statistics Portugal showed on Wednesday. The trade deficit fell to EUR 716 million in July from EUR 1.86 billion in the same month last year. In June, the deficit was EUR 836 million. Exports
03 Sept


#AUD/USD# Waiting for the trade to sell ... TP = 0.73064

FTSE 100 Subdued In Cautious Trade

U.K. stocks were subdued on Wednesday as traders turned their attention to Thursday's Jackson Hole meeting, during which Fed Chair Jerome Powell is expected to give details on the Federal Reserve's framework review. The benchmark FTSE 100 was down 2 points at 6,035 after losing 1.1 percent in the pr

EUR/USD Ichimoku Long Term Short

#EUR/USD# This pair formed a lower high last week before finally crashing through the kumo and closing below it. We are on the verge of a bearish kumo twist, and chikou span is below price with plenty of room down below. I am watching for a break of this recent price structure at th

Fintech Payments Company FXPress to Acquire Avila House

Photo: Finance Magnates Fintech payment services company FXPress Payment Services Limited announced this Tuesday that it has entered into an agreement to acquire Avila House Limited, subject to regulatory approval. Avila House is a licensed Small Electronic Money Institutional. Under the agreement

NZD/USD drops to fresh three-week low under 0.6600, eyes RBNZ

NZD/USD prints four-day losing streak with the latest one defying bounce off 0.6571. Local virus transmission in New Zealand, strong US dollar weighed on the pair off-late. Market sentiment remains heavy amid uncertainty over US stimulus, Sino-American tussle and coronavirus woes. RBNZ is expected t

NFA Bans Investment Advisor Monsoon and Founder Prakash

Photo: Finance Magnates The National Futures Association (NFA), the self-regulatory organisation for the U.S. derivatives industry, recently announced that it has ordered Gautam Prakash, formerly of Monsoon Capital LLC, to not reapply for membership for seven years. In particular, the US regulator

USD index outlook: Dollar index falls to new two-year low after brief consolidation; fed in focus today

US DOLLAR INDEX The dollar index fell to new two-year low (93.32) on Wednesday, signaling that brief consolidation is over and bears re-take full control. Dollar's steep fall broke below major Fibo support at 94.12 (61.8% of 88.14/103.80) this week and also penetrated the top of thick monthly cloud

Understanding the euro’s recent rise

EUR/USD and EUR/GBP upside bias Broad dollar weakness has been supporting the EURUSD rise lately. The EURUSD can be known as the ‘anti-euro’ index due to its strong EUR component of the Dollar Index. As a result, they have a strong negative correlation. When the Dollar Index falls the EURUSD rises a

GBP/USD Analysis: Bulls remains in control near multi-month tops

Sustained USD selling bias assisted GBP/USD to build on last week’s strong positive move. The positive momentum seemed rather unaffected by renewed fears of a no-deal Brexit. Investors now look forward to the US Durable Goods Orders data for some trading impetus. The GBP/USD pair built on last week

Pull-up Update