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Fx Market

All articles tagged with #fx market

finance1 year ago

"US Dollar Slips in Thin Trade Following PCE Data"

The US dollar dipped after the PCE report, with the month-over-month core PCE reading closer to +0.2% than +0.4%. Despite a prior revision, the year-over-year reading captured core inflation at +2.5%. The dollar fell 15-20 pips across the board, possibly due to the lower unrounded number, relief over inflation not being higher, or holiday market randomness. USD/JPY also fell, potentially reflecting concerns about intervention from the Japanese ministry of finance. Holiday trading continues with upcoming speeches from Fed's Daly and Fed Chair Powell.

via ForexLive|
#finance#fx-market#holiday-trading
finance2 years ago

CBN Eases Restrictions on Domiciliary Accounts and Foreign Exchange Guidelines.

The Central Bank of Nigeria has removed the limits on domiciliary accounts, allowing account holders to deposit freely, have unrestricted access to funds in accounts, and make up to $10,000 withdrawals daily. The move is aimed at promoting transparency, liquidity, and price discovery in the FX market to improve FX supply, discourage speculation, enhance customer confidence, and ensure overall stability in the FX market. All visible and invisible transactions are eligible for the Investors’ and Exporters’ window, and banks are urged to ensure expeditious processing of all eligible invisible transactions on behalf of their customers.

via Punch Newspapers|
#banking#cbn#domiciliary-accounts
finance2 years ago

Global Markets React to US Jobs Data and Non-Farm Payrolls.

The FX market is quiet due to most of the world being closed for holidays, with the exception of the New Zealand dollar showing some activity. The release of the jobs report during a time when most markets are closed is unusual, but the FX market will remain open. However, bonds will be completely closed. It is advised to avoid trading during this thin market, as a strong or weak non-farm payrolls number is unlikely to have a significant impact.

via ForexLive|
#finance#fx-market#holidays