Daily Market News by Xtreamforex.com

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  1. #421
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    Default Canadian Dollar Dropped its Growth, Traders Waiting for Bank of Canada Statements

    Daily Market News by Xtreamforex.com
    Traders are waiting for the bank of canadaís statement over the CAD. The Canadian dollar that was moving with high strength has dropped its progress in the last week of October. But despite heavy a weak week, the currency has got dominance over the US dollar, British pound, Euro, and Japanese Yen since June. Itís a matter of great concern for traders that the cash will benefit from the downfall and itís going to increase in November month.

    The currency of Canada offers the benefits from the global rising inflation situations as the prices of energy; commodities are rising and doing great. West taxes intermediate has leveled the position since 2014. The Canadian commodity can affect the local inflation and monetary policy too. There was a growth of 4.4% was seen in the last weekís CPI data as compared, which is also great news for the Canadian dollar. This has grown after a long time since the year 2003.

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    Default COP26 Event is Going to be Organized on 31st Oct For Environmental Welfare

    The prices of energy are rising that are affecting the economies in nations like Asia, North America, and Europe. COP26 is a two-week event that is going to begin on 31st Oct in the Glasgow city of Scotland. The United States Conference of parties was organized first in the year 1995 where the 26 was added as the meeting was the 26th year of the event.

    What is the Energy Supply Production Concerns?

    The agreement between major economies like China, the UK, US and other countries pledged to use the fuels that will release fewer carbon emissions in the climate. These countries have started scaling back their use of coal and oil as the primary energy sources that is a great step to improve the climate. Things were going great but when the corona pandemic hit, countries again started focusing on their coal production to fulfill their energy needs.

    Assets Impacting COP26


    Cop26 goals will have a long-term effect on the diverse markets including currencies and commodities. When the oil production is reduced in the lack of an alternative energy resource, energy prices will be increased in short term as the demand for the oil will be high. The Australian dollar, Canadian dollar, and Norwegian Krone will see a rise when fossil fuels will not be used as their currency is strong. There is huge room for growth for these countries as more and more electrical manufacturing companies are creating vehicles that run without fuels.

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    Default US Dollar Gets strong as Corporate earnings grow in the market

    The corporate earnings of the US and China have made their currency strong. Traders were feeling high when they saw that the corporate earnings were running strong and the factors like US/China economic and trade situations were also going strong. All this news came as a boon for the traders as they know that US currency is going to increase along with Chinaís. Both the nationís trade situation will get benefit from the rise of these nationsí currency prices. Apart from this, Iran and Europe are also discussing bringing back the nuclear deal that they had in the past. This means there is a hope that the Iran Rial and Europeís Euro will get high too.

    As the central banksí meeting is dominating the market for a week in the nations like Europe, Japan, and Canada, the flow of the money will rise for a long period. Also, with the S&P 500, itís looking strong after the recent gathering of the banking officials. There was a bearish signal for the currency pair AUD/JPY thatís not great news for the traders.

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    Default Brazilís Central Bank Increases the Selic Rate by 1.5% that Affect USD and BRL

    Selic rate increased to 150 basis points on Wednesday, all thanks to the central bank of Brazil that has done this to set a benchmark . Itís the largest hike done by the bank in 20 years. The plans related to the additional financial spending have destroyed the hopes of the long-running inflation expectations but with the recent framework, risk will increase and it will unbalance things. The central bank of Brazil has also released a statement that determines that the market should also expect a rate hike similar to the past at the next policy meeting.

    Real, the currency of Brazil is under extreme pressure as of now because the government has declared that it intends to ignore spending terms and help the strugglers with the money. The extra funds may build pressure on the policymakers of the central bank as the policy will continue to tighten at a fast pace to fight inflation. The officials of the central bank announced that they aim to hike 100 basis points or bps at this monthís meeting. However, things have gone more aggressively as the financial viewpoint of the country is shifted.

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    Default Australian Bond is on Destruction as GBP/JPY Gets a Boost at the End of this Month

    A boost was seen in the GBP/JPY yesterday. Traders were waiting for the Aussie bond market to rise when the RBA did not purchase the 2024 April yield target bond. The questions were asked whether the bank is giving the yield curve control or not. The three-year farming done during this time is giving fertility of 1.15% that rose from 0.3% at the start of the month. The bank target is to limit fertility at 0.1%. Certain thoughts will include keeping an eye on the April 2024 bonds that whether the bank will purchase them or not.

    F so far the Australian dollar impact has not been great but the market is expecting hawkish RBA where the money market is priced at 3-4 rates in a year. But as per the RBAís current statement that it will not raise the dollar rates till 2024 has not encouraged the hopes of the hawkish RBA. The currency is struggling to make a foothold above 0.7500.

    F the S&P is expecting to close with over 5% of the gains in this month that will raise the potential for a month-end rebalancing that will raise the short-term fluctuations for forex. The S&P 500 has closed at 5% or more in the past where GBP/JPY had gained close to 0.6% on these occasions. GBP/JPY has however moved higher to 82% on the final trading day of the month.

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    Default EUR/USD will Raise More After Traders Ignore Dovish Lagarde

    EUR/USD saw a long-time low phase that went on to rise on May 25 and stopped for 1.2266. This went on low to 1.1524 on October 12. This lowering of the currency pairs looks to be ending as the latest weekís price is indicating that the trend is going high and will continue to follow this trend. The European central bank decided not to change the monetary policy of governing council and the news was spread when President Christine Lagarde released this statement at the conference. She said that ECB will raise the Eurozone interest rates in 2022 because the inflation will fall off by then.

    Lagarde stated that it could increase a lot more in the future but as the years will pass on, the pressure of price rise will slow down because the high energy prices will be out of the equation. The market is moving fast in easier way as expected, this has been moved to price in a position earlier than expected. As a result of this, the EUR/USD got higher.

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    Default CAD Rises that Makes it Safe to Spend On

    The week is going to be big for the global market because we are hearing a lot of reports out of the US and the macro calendar is loaded with Federal Reserve and nonfarm payrolls documents. The Canadian dollar is going toward a big week after the bank of Canada surprised after announcing their QE program. The incident happened on Saturday that gave a strong push to CAD as the USD/CAD got down to 1.2300 handles.

    As the US and Canada are two hawkish central banks right now in the market, combining the two currencies in a pair for the trends is not seen as a weak idea. Traders may see the USD and CAD as a weaker currency that is backed by the central bank which is not going to tighten the policy soon that includes the Japan, Yen, and Euro.

    The currency pair of Canada and Japan CAD/JPY can be profitable to deal with considering the oil segment of the world. The pair was great for October as the prices got increased to 90.00 that come under the six-year highs. The CAD/JPY is getting attractive as the bank of Canada is getting strong from the market movement and becoming more hawkish to inflation. The countryís oil strength is boosting that will improve the Canadian economy soon.

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    Default How to Earn a Great Income Using the CFD Trading Platform?

    Income generation is necessary for human lives and everyone is looking for the methods that make them rich online. One of the most established methods to make money is using the CFD trading platform which is software that helps users trade on contract for differences. Gone are the days when you had to rely on the dealing desk trading only but now, you can trade having the online presence of it. Letís know it further.

    What is CFD in a Trading Platform?

    CFD or contract for difference is the agreement done between the buyer and seller that the purchaser will pay the difference between the present value of the asset and its value at the contract time. CFD is one that serves you do the trading on it and support you make money. Thus, you can earn a profit from the price movement without having the actual asset with you.

    Understanding CFD with Example

    An example will get you a clear view of the Contract for different things. Letís suppose you choose a stock that has an asking price of $25 and opens at a CFD having a value of 100 shares. If you buy the shares without using the CFDs, the cost you would pay will be $2500. Itís the total cost that is left behind after charging a commission or a trading cost.

    A CFD broker will require just 5% of the margin to get his work done. With this, you can enter the trade with $125. Itís a great place to trade for intraday traders. Here, the risk and reward ratio is raised that will make your short-term trade more practicable. When you do CFD, you experience that the position of the loss is correlated with the size of the spread. Itís because the spread from the broker is 5 cents. For having a break-even, you need at least 5% of the stocks here.

    For more information visit>> CFD Trading Platform

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    Default EUR/USD to recover soon after a slow down

    The currency pair EUR/USD will be soon back on track and will challenge its top figures of 1.1616 that were once achieved. The exchange rate is also expected to improve as the European Central Banks are going to make changes in the interest rates of the nation to fight the inflation rates. European central bank executive board member Philip Lane recently gave reports that state “Euro is still weak and is facing the inflation issue”. The central bank is trying to build pressure on inflation through the monetary policy that will stabilize it to a percent or so.

    He again said that by tightening the monetary policy, we cannot lower the inflation rate but surely we can slow down the pace of the economy and reduce employment rates in the coming years. Thus, these steps will reduce the medium-term inflation pressure. It seems like the ECB will hold on to the ongoing speculations in the market rising regards to the interest rates. This will be a productive step for the nation. EUR/USD will see a large recovery through this in the coming days if the currencies are going to open at the right rate in November. In case there is a decline seen in the exchange rate, it will allow people to show their rush in the market just like what we saw at the beginning of this year.

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    Default AUD/USD will Improve its Monthly Opening Range as Jobs in Australia Increases

    in ro ham eslah kon:
    The currency pair of AUD/USD has downgraded as it failed to trade above 0.7548. The news coming from Australia may control the recent decline in the exchange rate as the job growth is expected to return in October month. AUD/USD currency pair is going down where the price was noted to 0.7192 in October, which is a little low than the previous time. Itís expected that the figures will improve in November month.

    As the Australian employment growth rate expanded in October month, a lot of jobs are expected to grow for the unemployed, ensuring them a bright future along with the economic improvement of the nation. This will boost the AUD/USD low rates. The positive development will push the reserve bank of Australia to take a step forward toward growth. This is because the central bank is removing its yield curve control program that was once operational. The central bank is expected to show great enthusiasm in increasing the higher interest rates. This will increase the economy and will hit inflation for the good.

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