Since 2014, the Dollar has increased by 25% against a basket of major currencies. After President Trump’s election, the value of the greenback has risen by about 3%, but his recent comment questioning the wisdom of maintaining a “strong Dollar” seems to have put pressure on the USD, which so far has been in the red in 2017.
Pound is trading around 1.2494 and currently monthly sentimental RSI turned positive and likely to continue positive in the long term. It had almost taken 7 months for the sentiment to change positive since BR Exit. The Transition of sentiment from Red to Yellow color indicates positive trend reversal and the trend change is likely to be long term.
Though Governments demonetization is a welcoming move to remove black money, fake currency, corruption and terror financing from the system, it is a bit early to make any accurate predictions on the full impact of government’s attempt to demonetize Rs.500 and Rs.1,000 currency notes . Demonetization is good for the medium to long term economy, however it will adversely impact India’s economic growth in the short run.
Some Elliott wave forex traders do watch the news — but for different reasons By Elliott Wave International Last Friday, EURUSD rallied strongly. Said Reuters: “The U.S. dollar tumbled against a basket of major currencies…on U.S. political uncertainty after the FBI said it would review more emails related to Democratic presidential candidate Hillary Clinton’s private […]
Any trader of foreign currencies likely understands the influence that both local and international politics have on currency values. Successful online forex trading involves following the changes and trends that are taking place across the globe, and making the right trades at opportune moments to capitalize on changes of currency values.
Before stepping into Monday its better prepare yourself to face the music of volatility in the markets. Last Friday the outcome of BRExit vote on leaving the European union had made a huge shock wave across major financial markets including Stocks, commodities and currency markets. And Fridays price action had done a major structural damage on the time series charts.
Interesting Divergence behavior in USDINR Daily charts while trying to use Fisher Transform indicator by Ehlers. Almost every divergence as shown in the above charts extended any where between 28-34 days. Divergence generally occurs when an indicator and the price of an asset are heading in opposite directions. Current positive divergence is running on for last 32 days i.e USDINR rate is slowing and moving down however fisher indicator is turning upwards.
Recently SEBI has approved stock exchanges to introduce cross currency derivative contracts (futures and exchange traded options) in multiple cross currency contracts. Approved Cross Currency pairs involves EURUSD, GBPUSD, USDJPY futures and the introduction of exchange traded option pairs EUR-INR, GBP-INR and JPY-INR currency pairs.
Now Bitcoin wallet mobile app, Zebpay app has been launched in India, for Android, which can make transaction like buying, selling and investing much simpler in the crypto currency. With growing modernization the work is getting simpler and easier and with the first mobile Bitcoin wallet in India is going to be simplest in the world.
Recently, Indian govt announced a particular scheme in their budget notes which took a lot of attention, especially gold merchants and speculators. With gold prices tumbling since last couple of years, the new scheme-if it works, would not only increase the supply of precious metal at domestic level, in-turn cuts our international gold imports which further depresses the price at global scale.
Government spending policies that influence macroeconomic conditions. Through fiscal policy, regulators attempt to improve unemployment rates, control inflation, stabilize business cycles and influence interest rates in an effort to control the economy. Fiscal policy is largely based on the ideas of British economist John Maynard Keynes (1883–1946), who believed governments could change economic performance by adjusting tax rates and government spending.