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August 15 - A 7.7-magnitude earthquake struck off the coast of Flores Island, Indonesia, early on August 15, according to the Indonesian Meteorology, Climatology and Geophysics Agency (BMKG). No casualties have been reported so far. The BMKG stated that the epicenter was located 30 kilometers northeast of Mbai town in East Nusa Tenggara province, at a depth of 15 kilometers. A tsunami warning has been issued for the earthquake.On August 15th, US President Trump confirmed on the 14th that the USS Lincoln aircraft carrier, whose long-term deployment to the Middle East has led to questions about living conditions and crew mental health, will be replaced. Speaking to reporters at Joint Base Andrews, Maryland, Trump said the USS Lincoln was "on or about to" depart and would be "replaced by another very similar ship." On the 13th, US sources reported that the US was preparing to send the USS George Washington to the Middle East to replace the USS Lincoln. When asked about growing concerns among the families of service members about the crews safety, Trump said, "No, they arent." He also stated that the USS Lincolns deployment time of nearly nine months was "far too short."The European-Mediterranean Seismological Centre has revised the magnitude of the earthquake in the Flores region of Indonesia from 7.4 to 6.9.The European-Mediterranean Seismological Centre reports a 7.4-magnitude earthquake in the Flores region of Indonesia.August 15th - Following the exposure of the pressure on the US Patriot interceptor stockpile during the Iraq War, defense companies such as Boeing, Lockheed Martin, Northrop Grumman, and Raytheon are racing to develop lower-cost, faster-producible missiles. In the past, the US defense industry continuously added advanced guidance and propulsion systems to missiles, resulting in a unit price exceeding $4 million and production cycles of several years. Now, the Pentagon is demanding that companies "change or be eliminated," hoping to counter cheap threats such as drones at a lower cost. Lockheed Martin has launched a low-cost version of the ACE interceptor, costing only about $2 million per missile, less than half the cost of the enhanced PAC-3 MSE; Boeing is developing an "ultra-low-cost" guidance head, planning to reduce its cost percentage; Northrop Grumman has launched the Strike Hunter system; and Raytheon is expanding the application of its Coyote low-cost anti-drone missile. The US Army states that not all targets require the most advanced and expensive interceptor systems. However, most low-cost solutions will still require several years before mass production.

How to understand a FOREX quote?

LEO

Oct 25, 2021 13:27

FOREX is quoted in currency pairs, such as GBP/USD or USD/JPY. 

Take GBP/USD for example: 

BUY   GBP/USD = 1.33722

SELL  GBP/USD = 1.33704

外汇报价1.jpg

The currency to the left of the slash ("/") is called the base currency (the pound in the example), and the currency to the right is the counter currency (the dollar in the example). 


When you buy, the FOREX rate will tell you how many units of the quoted currency you have to pay to buy a unit of the base currency. BUY GBP/USD as shown above GBP/USD =1.33722

Means that you have to pay $1.33722 for 1 GBP.


When you sell, the FOREX rate will tell you how many units of quote currency you would get when you to sell one unit of the base currency. SELL GBP/USD as shown above GBP/USD =1.33704 

When you sell 1 pound, you will exchange it for $1.33704.


If you believe the base currency will appreciate relative to the counter currency (the exchange rate rises), then you should buy it. Conversely, if you believe that the base currency will depreciate relative to the counter currency (the exchange rate drops), then you should sell it.