USD/INR closed at 69.68 against its opening of 69.55.
Sensex closed at 39,113, up 66 points, Nifty ended absolutely flat at 11,691.
India’s retaliatory tariffs on 28 US products comes into effect.
China to maintain anti-dumping tariffs on U.S. distillers grains.
U.S., China rekindle trade talks ahead of Trump-Xi G20 meeting.
Dollar near two-week high before Fed as dovish ECB supports.
The Federal Open Market Committee's (FOMC) two-day policy decision is due today.
Asian shares climb, wager all on dovish Fed, trade hopes revive.
Japan says G20 summit to debate trade including WTO reform.
Oil climbs over $1/bbl on U.S.-China trade deal hopes, Mideast tensions.
OPEC, non-OPEC to meet next on July 1-2 - OPEC website.
Gold inches lower as trade optimism, dovish ECB lift equities.
France plans to scrap 1 billion euros of tax breaks for companies.
Japan exports slide for sixth month as trade troubles knock demand, weaken outlook.
U.S. government posts $208 billion deficit in May.
UK PM candidate Johnson: Britain must leave EU by Oct. 31 or pay the price.
India doubles import quota for pulse imports: minister.
Putin says Russia-U.S. relations are getting worse and worse.
What is Forex?
The foreign exchange market is commonly known as the FOREX market. Today the FOREX market daily average is more than $4 trillion.
Why Investing in Forex?
There are two reasons to buy and sell currencies. About 5% of daily turnover is from companies and governments that buy or sell products and services in a foreign country or must convert profits made in foreign currencies into their domestic currency. The other 95% is trading for profit, or speculation. FOREX is a unique opportunity to diversify investment portfolios.
Where does the Forex market operate?
The FOREX market is an action-based, decentralized international forum that allows major world currencies to seek their true value. The FX market is considered an Over The Counter (OTC) or 'interbank' market, due to the fact that transactions are conducted between two counterparts over the telephone or via an electronic network. Trading is not centralized on an exchange, as with the stock and futures markets.
When Does the Forex Market Operate?
The FOREX market is a true 24-hour market, operating nearly 6 days a week. The trading begins each day in Wellington, and moves around the globe as the business day begins in each financial center, first to Tokyo, London, and New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day or night.
What Are the Majors?
For speculators, the best trading opportunities are with the most commonly traded (and therefore most liquid) currencies, called "the Majors." Today, more than 85% of all daily transactions involve trading of the Majors, which include the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar.
What is the Pricing?
As with all financial products, FX quotes include a 'bid' and 'offer'. The 'bid' is the price at which a dealer is willing to buy (and clients can sell) the base currency for the counter currency. The 'ask' is the price at which dealers will sell (and clients can buy) the base currency for the counter currency.
What is the Leverage?
The FOREX market offers high leverage, up to 100:1. Since this level of leverage enhances both profit opportunity and potential risk, a very disciplined approach to trading is required.
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