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Sources said Russia and Ukraine have exchanged remains of the victims, with Moscow returning 1,000 bodies to Kyiv and Ukraine handing over 24.On September 18th, TD Securities strategists wrote in a report that the slight decline in the British pound following the Bank of Englands decision to hold interest rates steady likely reflects the unchanged language of its forward guidance. The Bank of England reiterated that a "gradual and cautious" approach to future rate cuts remains appropriate, with subsequent decisions dependent on economic data. The strategists noted that this further reinforces the view that another Bank of England rate cut remains possible this year, with TD Securities predicting a November cut. They suggest that the British pound may decline against the euro ahead of the UKs Autumn Budget in November, but given that the Federal Reserve resumed rate cuts on Wednesday, further downside for the British pound against the US dollar is unlikely.Ukrainian President Zelensky: Ukrainian troops are launching a counteroffensive near Dobropolya and Pokrovsk in the east.On September 18th, former U.S. Treasury Secretary Larry Summers stated that the Federal Reserves policy is leaning toward being "too accommodative," and emphasized that the biggest risk facing the U.S. economy lies in inflation, not the job market. Summers stated, "If I were in Chairman Powells shoes, my biggest concern would certainly be inflation." Regarding the Feds interest rate cuts, Summers said, "I dont think theyre being forced to do so by political pressure, but I do think that at this moment, the (Fed) must be pulling out all the stops (to maintain an anti-inflation stance). And Im not sure theyve pulled out all the stops as Id hoped."On September 18th, British Chancellor of the Exchequer Reeves stated that the government is exploring measures to reduce inflation and will announce them in the next budget in November. In a correspondence with Bank of England Governor Bailey, Reeves described current inflation as "excessively high," adding, "The Prime Minister and I are both clear that we must do everything in our power to control costs and reduce spending." Regulations require written communication between the Chancellor and the Bank of England Governor when inflation deviates by more than one percentage point from the 2% target. The Bank of Englands forecast indicates that inflation is currently at 3.8%, above the 2% target, and is expected to rise to 4% next month. On Thursday, the day of the Bank of Englands monetary policy meeting, the Monetary Policy Committee voted 7-2 to maintain interest rates at 4% to continue to curb price increases.

Currency Trading Forex

Drake Hampton

Mar 24, 2022 14:28

Forex currency trading may be the correct choice for you if you're seeking for a very liquid trading environment that allows you to speculate on a practically 24/6 currency market. Forex trading should be confined to risk money, and while the off-exchange foreign currency market has certain unique hazards, it can present a chance for educated traders to benefit from a very busy worldwide market.


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The Basics of Forex Currency Trading

It is a worldwide market for currency exchange between governments, as well as for individual investors or dealers. As the name indicates, the retail off-exchange forex market does not take place on an exchange, which means that there is no physical site where all currencies are traded.

 

A critical and fundamental point to grasp about forex is that it is traded in pairs. This implies that you are simultaneously purchasing and selling a currency. For instance, you initiate a trade in the European euro versus the US dollar, or EUR/USD. This indicates that you expect the euro will appreciate in value relative to the dollar. On the other hand, if the euro depreciates against the dollar, you risk losing your whole investment, or even more. If the euro increases in value and you wish to benefit, you would "unwind" your position by selling the euro and purchasing the dollar. That is a fairly simplified example, but it should illustrate how forex works in general.

Considerations

Consider the following before engaging in forex trading:

 

Leverage: Using a little quantity of money to control a huge investment. This enables high potential returns, but caution should be exercised because it can also result in significant losses.

 

Market that operates nearly 24 hours a day, six days a week: Respond quickly to market circumstances and economic events by trading almost 24 hours a day, six days a week — from Sunday to Friday.

 

Liquidity: Forex is an extremely busy market with an enormous volume of trading, particularly in the largest currencies. Trading some of the more esoteric pairings may raise worries about liquidity.

 

Forex currency pairs are exchanged in 10,000-unit increments with no fee. However, the bid/ask spread reflects the cost of the trade.

Establishing an account

To begin forex trading with Top1 Markets, you must first establish a basic account. Individual or joint accounts are available for the Standard account. Additionally, you must request for and receive approval for margin rights on your account.

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