Forex Trading For Beginners 2021

German Economy May Shrink This Quarter on Covid, Bundesbank Says Forex 51 minutes ago (Dec 20, 2021 06:54AM ET) © Reuters. German Economy May Shrink This Quarter on Covid, Bundesbank Says (Bloomberg) -- Germany’s economy, Europe’s largest, may contract this quarter as resurgent coronavirus infections trigger fresh curbs and keep shoppers at home, according to the Bundesbank. Activity in some service sectors is “significantly hampered,” the central bank said Monday in its monthly report. While the hit to sales should be smaller than a year ago as current restrictions are less severe and only cover a comparatively short period of time, a persistent squeeze on supplies is adding extra strains. Business confidence slipped for a sixth month in December, with gauges for current conditions and expectations both worsening. The Bundesbank last week lowered its economic-growth forecasts for this year and next, warning of a winter setback. It predicted a strong pickup in momentum in th...

Turkish central bank rate cuts send lira to new record low Economy 21 minutes ago (Dec 16, 2021 08:26AM ET) © Reuters. FILE PHOTO: A logo of Turkey's Central Bank (TCMB) is pictured at the entrance of the bank's headquarters in Ankara, Turkey April 19, 2015. REUTERS/Umit Bektas//File Photo LONDON (Reuters) -Turkey's central bank cut its policy rate again as expected by 100 basis points to 14% on Thursday despite inflation soaring above 21%, sending the lira to a fresh record low. Below is the reaction from analysts to the latest move: JAKOB CHRISTENSEN, DANSKE BANK "We expect that even though they are now staying on hold, the fact that inflation will be peaking further, and that the U.S. central bank is in a tightening mode, there's a bias towards a weaker lira." "I am concerned about the inflation outlook in the next two to three months, as the sharp weakening in the lira feeds through... inflation will definitely go above 30%." HALUK BU...

Sterling Gains as BoE Hikes Rates, Commits to More to Tame Inflation Forex 41 minutes ago (Dec 16, 2021 08:05AM ET) © Reuters. By Dhirendra Tripathi Investing.com – Sterling GBP/USD rose 0.8% Thursday against the dollar as Bank of England raised interest rates for the first time since the pandemic struck. The U.K. central bank raised the Bank Rate by 0.15 percentage points to 0.25% and committed itself to more hikes in coming months as it attempts to bring surging retail inflation back to its target of 2%. The BoE now expects GDP to grow by 0.5% in the fourth quarter, slower than anticipated earlier. Yields on the benchmark 2-Year U.K. government bond surged. BoE is the first in the G7 to have hiked rates since the pandemic and was prompted by the country’s annual retail inflation hitting 5.1% in November from 3.1% just two months back. The central bank said staff expect inflation to remain around 5% through the majority of the winter period, and to peak at around 6% i...

UBS chief investment office stops coverage of U.S. dollar-Turkish lira pair Economy 45 minutes ago (Dec 14, 2021 07:02AM ET) © Reuters. FILE PHOTO: A merchant counts Turkish lira banknotes at the Grand Bazaar in Istanbul, Turkey, March 29, 2019. REUTERS/Murad Sezer (Reuters) - A wealth management arm of Switzerland's UBS Group confirmed on Tuesday it will discontinue research coverage of the U.S. dollar-Turkish lira currency pair in an effort to streamline its offerings. Tilman Kolb of the UBS chief investment office team sent out a memo last Thursday announcing the cessation in coverage, adding that previous exchange rate forecasts and hedging advice should not be relied upon. UBS is the largest wealth manager globally and its Global Wealth Management unit had invested assets of $3.2 trillion as of the third quarter 2021. Turkey's lira has weakened nearly 50% against the dollar this year with pressure on the currency sharply accelerating since September, when the ce...

Turkish lira slides again after rollercoaster ride to record low Economy 1 hour ago (Dec 14, 2021 06:47AM ET) © Reuters. FILE PHOTO: Turkish lira and U.S. dollar banknotes are pictured at an exchange currency shop in the opposition-held city of Idlib, Syria, December 4, 2021. Picture taken December 4, 2021. REUTERS/Khalil Ashawi By Nevzat Devranoglu and Daren Butler ANKARA (Reuters) - Turkey's lira slid as much as 4% on Tuesday in further volatile trade after tumbling to all-time lows a day earlier on concerns over President Tayyip Erdogan's risky new economic policy and prospects for another interest rate cut this week. The ailing currency, which has lost almost half of its value against the dollar this year, touched 14.4 to the dollar before trimming losses to 14.3450 by 1042 GMT. On Monday, the lira crashed as much as 7% to a record near 15 before whip-sawing back after the central bank (TCMB) intervened for the fourth time in two weeks to prop it up. "When ...

Former FX official says China should avoid excess yuan appreciation Stock Markets 4 hours ago (Dec 13, 2021 02:51AM ET) © Reuters. A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration SHANGHAI (Reuters) -Avoiding excess yuan appreciation should be one of China's priorities in managing market expectations and regulations, a former senior official at the country's foreign exchange regulator has said. A challenge for exchange rate fluctuations or flexibility is that the currency could overshoot, deviating from its economic fundamentals, said Guan Tao, global chief economist at BOC International and the former head of the Balance of Payments department of the State Administration of Foreign Exchange (SAFE), writing in a social media post over the weekend. "Market supply and demand were the dominant force driving the yuan rally this year, while orderly expanding domestic FX purchases and outbound investment channels shoul...

Dollar steady as traders wait for central banks, pound inches lower on COVID fears Economy 29 minutes ago (Dec 12, 2021 08:17PM ET) © Reuters. FILE PHOTO: A picture illustration shows U.S. 100-dollar bank notes taken in Tokyo August 2, 2011. REUTERS/Yuriko Nakao By Alun John HONG KONG (Reuters) - The dollar was quiet at the start of a week in which central bank meetings, including by the Federal Reserve, will likely drive currency markets, while sterling fell slightly after Boris Johnson warned about the impact of the new COVID-19 variant. The dollar index , which measures the greenback against a basket of six major peers, was little changed at 96.091, down from as high as 96.938 in mid November, before news of the omicron variant of the new coronavirus became widespread. On Monday, the euro inched higher to $1.1316 while the yen lost a little ground to 113.51 per dollar. The pound slipped 0.1% to $1.3257 after British Prime Minister Johnson on Sunday said Britain faces a ...

Antipodeans battle to stem Omicron slide; cryptos lick weekend wounds Economy 1 hour ago (Dec 05, 2021 08:15PM ET) 2/2 © Reuters. FILE PHOTO: A picture illustration of U.S. dollar, Swiss Franc, British pound and Euro bank notes, taken in Warsaw January 26, 2011. REUTERS/Kacper Pempel 2/2 By Tom Westbrook SYDNEY (Reuters) - Riskier currencies fought for a foothold on Monday against a dollar, buoyed by uncertainty around the Omicron variant and the expectation of more hot U.S. inflation data putting upward pressure on interest rates. Cryptocurrencies nursed big losses from a wild weekend that at one stage crushed bitcoin more than 20%. Bitcoin found support around $49,000 on Monday. Also smarting from a big drop, the Antipodeans led an attempted bounce in early Asia trade as the mood was helped by preliminary observations from South Africa suggesting Omicron patients had relatively mild symptoms. The Aussie rose 0.3% to $0.7016, scraping itself up from a 13-month low. The ...