ForexMart's Forex News

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  1. #281
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    ForexMart's Forex News
    January 24. Bitcoin skids to a 6-month low

    During Monday's trading session, the bitcoin exchange rate continued the fall, which began at the end of last week. The current quote of the cryptocurrency is $33.483. The last time such price values were recorded a half year ago, in July 2021.

    Since the beginning of the week, bitcoin has lost about 9%. Analysts say the main reason for the fall is the decline in the value of shares of the largest technology companies. In particular, the head of Tesla, Elon Musk, lost $25.1 billion, the head of Meta (former Facebook), Mark Zuckerberg, became poorer by $ 10.4 billion, and Changping Zhao, the owner of the Binance cryptocurrency exchange, lost $17.7 billion.

    In turn, the reason for the decline in the securities of technology giants was the widespread spread of the omicron strain, as well as the prospect of lower interest rates in the United States and the growth of instability in the world. At the same time, the main pressure on the crypto market was caused by fears of a military conflict between Russia and Ukraine – recently it became known that the United States and Great Britain began to withdraw diplomatic representatives from Ukraine.

    Many analysts predict a further decline in the value of the most popular cryptocurrency – up to $ 20 thousand.
    Regards, PR-Manager ForexMart

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    January 25. Nikkei falls to 5-month low

    The Japanese Nikkei stock index closed near a five-month low on Tuesday due to investor caution amid the situation on the border with Ukraine, the expansion of inflation risks and concerns about a faster-than-expected increase in the US Federal Reserve interest rate.

    The current index value is 27.131.34 points, which was the lowest since August 20. During the trading session, the Nikkei declined to 26.890.94 – the lowest since December 29.

    The broader Topix index dropped to 1.862.62. The Mothers Index of startups has fallen to its lowest level since April 2020.

    Analysts note that the main driver of the downward dynamics of the index was the decline in the value of shares in the Japanese technology sector. In particular, the securities of the investor in startups SoftBank Group fell by 5.34%, shares of the manufacturer of equipment for creating chips Tokyo Electron – by 2.69%. NIDEC lost 4.44%.

    The monetary policy of the US Federal Reserve also has an important impact on the index. A two-day meeting of the US regulator starts today, and investors assume that there is a small chance that the central bank will unexpectedly announce a rate hike from January.

    Additional pressure on the Nikkei is also exerted by geopolitical tensions related to the buildup of Russian troops on the border with Ukraine. Yesterday it became known that NATO is putting its troops on alert and strengthening its positions in Eastern Europe with additional ships and fighters.
    Regards, PR-Manager ForexMart

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    January 26. The US will release another 13.4 million barrels of oil from strategic reserves

    The US Department of Energy has announced plans to release an additional 13.4 million barrels of oil from the country's strategic reserves.

    The release of reserves will be distributed among seven companies: Shell will buy 4.2 million barrels, Trafigura – 3 million, Phillips 66 Company – 2.3 million, Macquarie Commodities Trading – 2 million, Chevron – 0.885 million, ExxonMobil – 0.515 million and BP Products North America – 0.5 million barrels.

    Recall that US President Joe Biden in November 2021 announced the release of 50 million barrels of oil from reserves due to high oil prices in the world and gasoline in the States themselves. The first deliveries were made in December, and the rest will be carried out gradually until April. The return of reserves to the strategic reserve is planned for 2022-2024.

    Today, oil quotes are showing growth again. The current Brent quote is $88.00 per barrel. Raw materials are getting more expensive after the release of yesterday's report from the American Petroleum Institute (API), according to which stocks decreased by 872 thousand barrels after rising by 1.4 million barrels a week earlier.

    Today, we should pay attention to similar statistics from the US Department of Energy. Experts expect that oil reserves in the country decreased by 2.1 million barrels last week, gasoline reserves increased by 2.2 million barrels, and distillate reserves decreased by 1.6 million barrels.
    Regards, PR-Manager ForexMart

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    I just took a look at your broker where I saw the leverage ratio is just 1:500 which is really low for scalpers so kindly increase this and for now newcomers or professional guys can use FreshForex broker since they are giving 1:2000 ratio leverage facilities.


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    January 27. The US economy in 2021 showed the highest growth rate since Reagan

    According to the Bureau of Economic Analysis of the US Department of Commerce, the country's gross domestic product increased by 5.7% for the whole of 2021 after falling by 3.4% in 2020. Such economic growth has become the most impressive in the last almost 40 years, since the presidency of Ronald Reagan.

    In the last quarter of 2021, US GDP increased by 6.9% on an annualized basis, which exceeded analysts' expectations of 5.5% growth.

    In 2020, the American economy shrank for the first time since 2009 (by 3.4%), and the reason for this was the global coronavirus pandemic. However, by the middle of 2021, the economy had recovered and returned to the pre-pandemic level.

    Analysts note that high economic growth in the United States is accompanied by high inflation – it is also at multi-year highs. In particular, in 2021, inflation accelerated to 7%, which was the largest indicator since 1982.

    In response, the US Federal Reserve announced that it was curtailing anti-crisis measures, and in March it could raise the base interest rate for the first time in four years. Representatives of the regulator note that a tougher monetary policy is able to restrain price growth significantly exceeding the target level of 2%.
    Regards, PR-Manager ForexMart

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    February 1. Gold is rising on Tuesday morning on political tensions

    The value of gold is steadily growing on the first day of February. The current quote of the precious metal is $1.803 per ounce. Analysts call the main reason for the growth of the asset the strengthening of foreign policy tensions in the international arena caused by the contradictions around Russia and Ukraine.

    And since gold is a «safe haven asset», increased tension successfully supports demand for it, somewhat leveling the recent weakening from the $1.850 level due to the tightening of the monetary policy of the US Federal Reserve System. Traditionally, gold acts as a resource that investors prefer to acquire in the event of difficult and questionable situations.

    The markets are also focused on the meetings of the European and British central banks on Thursday. If both regulators agree to increase interest rates, the demand for national currencies will grow, and for the precious metal will decrease.

    Analysts also presented a report on the global demand for gold by the end of 2021. According to statistics, demand reached the level of 4,021 tons, which was facilitated by a 50% growth in the fourth quarter. In annual comparison, the indicator increased by 10%. It is noted that such indicators are caused by the recovery of the jewelry and technology sectors of the industry, as well as active purchases of gold from central banks.

    January 31. Oil remains near highs at the beginning of a new trading week

    On Monday, oil prices remained stable at $89 per barrel after jumping to seven-year highs last week.

    The current Brent quote is $88.90, North American WTI oil is trading near $87.30 per barrel.

    Both brands of oil rose in price for the sixth week in a row. Since the beginning of the year, their cost has risen by about 16%, while the growth rate at the end of the month may be the highest since February 2021.

    The main support for commodity assets is provided by concern due to problems with oil supplies, coupled with continuing geopolitical risks. An additional growth factor was a sharp cold snap in the United States, which increases the demand for fuel.

    This week, on February 2, an important event for the oil market will take place – a meeting of OPEC+ ministers. Market participants expect that the alliance countries will decide to continue to increase their total production by the planned 400 thousand barrels per day on a monthly basis.
    Regards, PR-Manager ForexMart

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    February 2. OPEC+ countries will increase oil production in March by 400 thousand barrels per day

    A meeting of OPEC+ ministers was held today, at which it was decided to jointly increase oil production in March 2022 by 400 thousand barrels per day. Russia's quota in the March increase remains the same – 109 thousand barrels per day.

    The alliance's ministerial meeting was a record short one and the decision to maintain the terms of the deal was made in half an hour. The next OPEC+ meeting, where the alliance's policy for April will be discussed, will be held on March 2.

    After the announcement of the results, the price of Brent oil jumped to around $90.50 per barrel, declining some time later to $89.30. WTI crude oil is trading near $88.10 per barrel. Since the beginning of the year, oil quotes have increased by more than 17%.

    The OPEC+ decision not to increase the production recovery rate above the planned rate may contribute to a further rise in the price of hydrocarbons
    Regards, PR-Manager ForexMart

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    February 3. The Bank of England may raise the key rate for the second time in a row

    A regular meeting of the Bank of England will be held today, at which, as expected, the regulator may raise the key rate for the second time in a row – from the current 0.25% to 0.5%, against the background of record inflation in the UK for 30 years. The last time the British Central Bank raised rates at two meetings in a row was in 2004.

    It is worth noting that consumer prices in the UK in December 2021 jumped by 5.4% compared to the same month of the previous year, showing record growth rates since March 1992.

    The British regulator raised the rate in December last year to 0.25%. At the same time, the Bank of England became the first among the world's central banks to take such a step, noting that some moderate tightening of monetary policy will be necessary to achieve the 2% inflation target.

    In addition, in December, the Central Bank decided to leave unchanged the volume of the asset repurchase program at the level of 895 billion pounds, including the repurchase of government bonds in the amount of 875 billion pounds. However, it is possible that today the Bank of England will stop all reinvestments in the framework of asset purchases.

    According to experts, the main message of the British regulator will be that a moderate tightening of monetary policy is necessary to maintain the stability of the economy. They also expect that inflation may peak at 6.5% and will slow down for a longer time than previously expected, remaining above the 2% target for two years.
    Regards, PR-Manager ForexMart

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    February 7. Oil market declines after reaching multi-year highs

    Brent oil started today with an increase to the level of $93.99 per barrel, continuing to update multi-year highs. The last time the price of oil reached the area of $94 in 2014. The price of North American WTI oil is located near $92.70.

    Analysts note that the main support for quotes is provided by expectations of maintaining a limited supply against the backdrop of recovering demand.

    An additional growth factor is the continuing concern due to geopolitical risks, as well as doubts about OPEC's ability to supply in sufficient volume and the cooling in the United States. Experts believe that the deterioration of the geopolitical situation in Eastern Europe may lead to an increase in the price of oil to the region of $ 120 per barrel.

    However, following the highs, a technical correction is possible. That's what we see on the charts of the movement of oil quotes today. After the morning growth to the level of $94 per barrel, prices fell to $91.20. However, the reason may lie not only in the correction. Today it became known that negotiations between the United States and Iran on the resumption of the nuclear deal are probably close to completion, which will lead to an increase in the level of oil supply.
    Regards, PR-Manager ForexMart

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    in ro ham eslah kon:
    February 8. Gold is getting cheaper on the expectation of a faster Fed rate hike

    On Tuesday, the price of gold was declining as the US dollar rose in anticipation of inflation statistics. Investors predict that the Federal Reserve will signal an aggressive tightening of monetary policy and multiple interest rate hikes this year.

    The spot price of precious metals in the morning declined to $1816 per ounce, recovering during the day to $1820.

    Inflation data in the United States will be published on Thursday. The consumer price index for January is expected to show an annual growth of 7.3%, which would be the highest jump since 1982. And as experts note, high inflation may force the Fed to tighten policy faster, which will lead to an increase in the opportunity costs of owning non-profitable gold.

    Additional support for gold is provided by the ongoing tensions around Russia and Ukraine, as the precious metal is used as a safe haven asset.

    As for the other metals, palladium fell today to $2200, silver declined to $22,777, and platinum fell to $1004.25 per troy ounce.
    Regards, PR-Manager ForexMart

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