Abstract:Cable’s slump to the all-time low joined the fears emanating from Russia’s warning to use nuclear weapons, if needed, to begin the trading week on a negative note. The risk-aversion also took clues from PBOC and BOJ updates, as well as the latest round of hawkish Fedspeak and firmer US data.
Cable‘s slump to the all-time low joined the fears emanating from Russia’s warning to use nuclear weapons, if needed, to begin the trading week on a negative note. The risk-aversion also took clues from PBOC and BOJ updates, as well as the latest round of hawkish Fedspeak and firmer US data.
With this, the USD Index rallied to a fresh 20-year high and the yields also remained firmer. On the other hand, the Canadian dollar and prices of gold were the least affected while oil remained pressured amid feelings concerning the supply crunch and demand woes.
US Treasury yields reversed the previous days pullback from the multi-year high but USDJPY struggled to keep buyers hopeful as fears of BOJ meddling increased.
Although the UK‘s new government announced plans to cut taxes, in addition to the energy bill caps, chatters fuelled by Britain’s opposition party that such measures are only for the rich drowned the GBPUSD on Monday towards the all-time low near 1.0340. The following rebound, however, remains halfway and might have taken clues from the BOE intervention talks.
Furthermore, the West is preparing more sanctions on Moscow amid fears that nuclear weapons are the next to be used in the Russia-Ukraine tussles. On the same line were grim comments from the central banks of China and the BOJ leader Haruhiko Kuroda.
Following are the latest moves of the key assets:
• Brent oil remains pressured at the lowest levels since January, down 1.60% on a day near $85.50 by the press time.
• Gold rebounds from two-year low, up 0.10% intraday near $1,645 at the latest.
• USD Index retreats to 113.30 after refreshing the multi-year high to 114.52 earlier in the day.
• DAX, Eurostoxx and the FTSE are all printing mild losses as we write.
• Wall Street closed in the red led by the Nasdaqs 1.80% daily loss.
• BTCUSD prints mild gains around $19,000 while ETHUSD struggles near $1,300.
The revenue of FXCM UK for 2021 was $13.6 million, a 12% decrease from $15.4 million in 2020. The company's net profit for the year decreased from $4.9 million in 2020 to only $227,982 in 2021, just over breakeven.
According to Rakuten Group, the establishment of Rakuten Securities Holdings, Inc. and the reorganization of the securities firm were completed as planned.
DtpFx Ltd is a forex scam warned by FCA recently. However, it hasn't stopped its steps to scamming after being warned.
Although digital currencies have been around for over a decade, the concept is still foreign to many.