Forex Trading Platforms

If you're planning to venture into the Forex markets your journey should obviously start by partnering up with the best forex broker in Canada. Grab your copy of our latest Quarterly Intelligence Report for Q3 2022 before your competitors and stay up-to-date with crucial developments in the Forex and CFD industry! However, choosing the right Canadian online brokerage isn't always a straightforward process. In fact, the top brokers in Canada are widely different from one another. As such, to determine the best brokers in Canada, we looked at elements such as pricing, fees, support, range of currencies and instruments, trading tools, supported markets, educational materials, relevant market analysis, and regulations. By going through the motions with us you might find that some Canadian forex brokers will suit your trading style while others won't. Keep Reading Ultimately, finding the best trading platforms in Canada will be up to the trader in question. While some ...

The Euro faces multiple headwinds. Economists at Citi expect the EUR/USD pair to stay in a 1.09-1.14 average range. ECB is expected to hike rates to 2.5% "The single currency zone faces an unfavorable mix of lower growth, high inflation and rising rates in the months ahead." "The ECB is expected to hike rates to 2.5% amid fears of a severe winter's effect on energy consumption, China's delayed recovery and likely recession in Europe. These forces suggest the Euro staying weaker for longer in a 1.09-1.14 average range." "The caveat is the timing of a turn in the US Dollar. Should the Fed turn more dovish in its monetary policy, the USD could weaken across the board. The timing of such a move remains difficult to forecast, however."   

Oil Crude prices got an unexpected boost from a surprising Bank of Japan decision to shift their policy which sent the dollar tumbling. ​ Oil should be higher, but China's COVID surge has energy traders refraining from betting on a quick complete reopening. ​ The oil market has tremendous support at the $70 level as the US will likely be refilling the Strategic Petroleum Reserve for a while. ​ The outlook for China's crude demand will hinge on how quickly China can bolster up its health care system and over how bad this wave gets. ​ It is hard to believe that if the COVID situation deteriorates much worse than feared that Beijing might have to deliver a U-turn over its policy. ​ Gold Gold got an unexpected present from the Bank of Japan. ​ Gold is benefitting from a weaker dollar after the BOJ tweaked their curve policy, which signaled they are nearing the end of its ultra-easing monetary policy stance. ​ It is rare to see gold perform so well when glo...

[unable to retrieve full-text content] GBP/EUR Slips as UK Incomes Set to Slump in 2023    TorFX News

Some trades always seem to disappoint: long Argentina, short Japanese government bonds or attacks on Hong Kong's currency peg against the US dollar. Recently, a new generation have tried the Hong Kong trade — including the hedge fund managers Kyle Bass and Bill Ackman — and drawn mockery for their ventures into this trader's graveyard. But while Bass and Ackman's specific arguments may be weak, it is no longer risible to make long-shot bets against the Hong Kong dollar. Economically, the peg is close to impregnable. Politically, it is like an ice skater venturing out onto the lake every day as the weather starts to warm. Bass made headlines for his Hong Kong dollar short in 2019. He claimed at the time that the Chinese territory "sits atop one of the largest financial time bombs in history" and had burnt through most of its foreign exchange reserves. This was and still is nonsense. Hong Kong's peg, in a narrow band around the level of HK$7.80 to the ...

KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on December 14, 2022: Buying: Rs 231.70 to the US Dollar Selling: Rs 234.00 to the US Dollar The buying rate means an exchange company or a bank buys foreign currency from a customer. The selling rate means an exchange company or a bank sells the foreign currency from a customer. The rate has been updated at 09:00 AM Pakistan Standard Time (PST). The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand. PKR to US Dollar on December 13, 2022 ————————————————- PKR to Saudi Riyal on December 14, 2022 KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on December 14, 2022: Buying: Rs 63.70 to the Saudi Riyal Selling: Rs 64.20 to the Saudi ...

The Pound Euro (GBP/EUR) exchange rate nosedived on Wednesday. The currency pair fell after the Bank of England (BoE) raised interest rates by 50bps and forecast a fourth quarter recession. The European Central Bank's (ECB) hawkish forward guidance also weighed on GBP/EUR. At time of writing the GBP/EUR exchange rate was at around €1.1496, which was down roughly 1.2% from that morning's opening figures. Pound (GBP) Exchange Rates Slip as BoE Policymakers Divided after 50bps Rate Hike The Pound (GBP) slipped on Thursday following the Bank of England's interest rate decision. The central bank raised interest rates by 50bps as forecast. The central bank's decision had been largely priced in by markets, meaning that its impact on Serling was minimal. The vote split in the BoE's Monetary Policy Committee (MPC) did weigh on the currency, however. Two members of the MPC voted in favour of no change in policy. The BoE's forecasts also weighed on the Pound. T...

Meme stocks are stocks that become popular on social media. This popularity may lead to an increase in the value of a stock, but typically not in a predictable or lasting way. The value also tends to have little to do with the actual success of a company. Although meme stocks might sound simple, there is more to how they work and why they're generally considered riskier than your average stock. What is a meme stock? A meme stock is an actual stock that represents a share of a company. This stock trades as any other shares on public stock exchanges. Buying a stock in a company gives you fractional ownership of the company. But meme stocks differ from everyday stocks in their connection to social media. A meme stock typically becomes popular on social media, which may draw investors to the stock and potentially increase its value. Meme stocks may also be stocks that many investors are short selling, which means these investors are betting the stocks in question will drop in value. Ho...

The Euro's Current Outlook in 2022 Following a protracted downtrend against the dollar since February, the beleaguered euro (EUR) has suffered an 8.80% decline compared to the dollar (USD) so far this year. By September, the euro plummeted below parity to 0.9685, levels unseen since June 2002. This occurred after the region's economic outlook worsened, thanks to the closure of Nord Stream 1, which drastically limited the available energy to fire the eurozone economy. The European Central Bank (ECB) provided some respite, and the euro has since rebounded. The Central Bank increased interest rates by 75 basis points on Oct. 27 for a second straight month, prompting the euro to strengthen. Although the euro has increased by 5.19% in value against the dollar since Oct. 15, eurozone-wide inflation—predicted to average 8.5% for the year— continues to stagnate growth. A cost-of-living crisis will likely hinder the euro's relative strength going forward. Most EU countries a...