Russia’s central bank more than doubled its interest rate to 20% LeapRate

February 28, 2022 BY Steffy Bogdanova

Russia's central bank more than doubled its interest rate to 20%

Forex Market The Russian finance ministry and Russia’s central bank have ordered domestic exporting companies to sell 80% of their forex reserves in order to help the rouble which plunged 30% against the dollar earlier today. The western governments imposed increasingly stricter sanctions on Russia following President Putin’s decision to invade Ukraine. As part of…

February 25, 2022 BY Steffy Bogdanova

Daily market commentary: Brent oil prices trading above $100 for the second consecutive day

Oil Brent oil prices are trading above 100 dollars a barrel for the second consecutive day, despite having retraced some of the gains recorded during the previous session and earlier on Friday, too. The Russian invasion of Ukraine is behind the latest escalation in prices, as the expected repercussions of the conflict over global oil…

February 24, 2022 BY Steffy Bogdanova

Forex trading service provider Trading.com launches in the US

Pambos Panayiotou, CEO of Trading.com Markets Inc., commented: From the many conversations we've had with retail traders in the US, we identified a gap between what many traditional forex dealers provide, and what clients really require. In many cases, customers felt let down by needlessly complex processes, pricing structures, and an overall lack of clarity…

February 24, 2022 BY Steffy Bogdanova

Daily market commentary: The euro lost 0.5% in relation to the US dollar following news of Russia military operation in Ukraine

Oil Brent crude oil prices rose above $100 for the first time since 2014 during early Thursday trading, with the cost of the barrel climbing more than 5% as Russia started it’s invasion of Ukraine. Moscow’s intentions to launch a military attack on its neighbour had been called out over the last few weeks by…

February 22, 2022 BY Steffy Bogdanova

Daily market commentary: WTI crude oil prices reach a multi-year maximum as concerns grow over potential disruption of energy supplies from Russia

European Shares European shares climbed on Tuesday as most benchmarks register corrective bullish moves following Monday’s massive sell-off on equity markets. Ukraine-Russia tensions continue to simmer and dent market sentiment this week, especially after President Putin ordered military forces to what he recognized as “separatist areas”, leading the current conflict to another dimension. With geopolitical…

February 22, 2022 BY Steffy Bogdanova

Weekly data: RBNZ and US GDP

With very strong buying saturation based on both the slow stochastic and Bollinger Bands and the presence of an important psychological resistance, another move up in the immediate future doesn’t look likely. Instead, new buyers would traditionally look for a fairly small retracement to the area of about $1,880 based on ATR before looking to…

February 18, 2022 BY Steffy Bogdanova

Daily market commentary: Safe heaven currencies are on the back foot during early Friday trading

Gold Gold prices are edging down during early Friday trading but remaining close to the $1900 level reached on Thursday and at the start of today’s session. The precious metal rose above $1900 for the first time since June, on the back of a weakening dollar and concerns over developments in Eastern Europe, where the…

February 17, 2022 BY Steffy Bogdanova

Daily market commentary: The US dollar spiked following reports of a flare up in tension between Ukrainian and Russian forces

Gold Gold is up during early Thursday trading, approaching the multi-month high reached earlier in the week. The precious metal’s strength arises from concerns over developments in Eastern Europe, where the impasse between Russia and the West continues to be a cause for concern. Such a climate is conducive to greater demand for gold, due…

February 16, 2022 BY Steffy Bogdanova

Weekly data: British inflation ahead of FOMC’s minutes

From a technical point of view, the recent breakout above the medium-term downward trendline has yet to be confirmed although it seems strong. Somewhat higher volume of buying over the last few sessions, rising ATR and price clearly above all three of the simple moving averages seem to point to possible continuation. Traders in this…

February 16, 2022 BY Steffy Bogdanova

Daily market commentary: The US dollar index is falling during early Wednesday trading

Gold Gold prices are recovering some of the losses recorded during the previous session, as Wednesday’s trading gets underway in Europe, but not yet coming close to the multi-month maximums reached on Tuesday morning. Moscow’s partial troop withdrawal from the border with Ukraine appears to have improved the mood in the financial markets, with some…

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