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Bitcoin - India, China, Norway and then EU This was expected as China has already banned Bitcoin from financial transactions wherein it said that it can be used as a commodity that means it has it has...
The rupee has regained about two per cent of its lost value in two weeks, after hitting a historic low of Rs108.57 against the greenback on December 4.
In the week ended December 13, inflows of $505 million from the UK’s Department for International Development, Islamic Development Bank and other multilateral institutions has to be credited, in large part, for the swift comeback of the rupee.
This inflow also boosted the SBP’s forex reserves to about $3.468 billion, from $2.963 billion a week earlier. Pakistan’s overall forex reserves climbed to $8.526 billion from $8.060 billion, according to recently released SBP statistics.
Senior bankers and executives of forex companies say the rupee’s rapid recovery also reflects a drop in dollar demand after checks on capital flights and crackdown on the Hundi/Hawala business. They say that Finance Minister Ishaq Dar’s much-publicised prediction about the rupee’s recovery also accelerated dollar-dumping by speculators, thus improving its supply.
Just update of the situation Correction is just started on open D1 and H4 bar - we can see it on the image : MetaTrader Trading Platform Screenshots EURUSD, D1, 2013.12.24 MetaQuotes Software Corp.,...
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GBP/USD Dip is Corrective; Another Push Higher Soon? (based on dailyfx.com article)
-GBPUSD is doing what GBPUSD does. Since 12/10 the rate has traded to a YTD high, 3 week low, and another YTD high. The move to a new high on Wednesday is suspicious given the inability of EURUSD to attain a YTD high. -Weekly action engulfs the prior 2 weeks already. We should at least be able to use this current week’s range as a point of reference to work from moving forward. -Watch for support at 1.6260/75 and/or the trendline that extends off of the Jul and Nov lows.
The next period may be relaxed , but not necessarily boring
2013 trading year for most currency markets actually ends on December 31 , but even months liquidity will become much smaller , with the entry into holiday trading services major banks . The next period will not necessarily be dull and new home sales reports , 24 at 17:00 in U.S. retail sales in Japan on Friday at 1.50 , consumer confidence in the U.S. 31 at 17 , ISM Industrial on Thursday January 2 at 17 can bring even fluctuations , especially in the short term .
In your support we made a compilation of days off and the most important macroeconomic events .
Even if markets will not engage in well-defined trends can be observed current direction favorable actions and dollars, temporary corrective adjustments in line marking profits before Christmas and New Year.
Euro is no longer leave impressed
Rating agency S & P cut the rating of the European Union one step below AAA , but exceeded Euro nonchalantly time . Spell a mechanism to resolve future crises in the banking system is visible, as well as moderate revival estimated for future anticipated ZEW and IFO surveys already . Confidence built in Germany sees and GfK indicator . Will Euro to orchestrate a comeback at the beginning of the week ? The partially digested the Fed's surprise , an episode of moderate appreciation of the European currency is possible, but seems unlikely to be stopped dollar appreciation over the medium .