The rand fell off a five-month high versus the dollar early Monday as the greenback rallied; China’s reimposition of a lockdown impacted risk-taking in Shanghai. The rand (USDZAR) was trading at roughly 14.6100 per dollar at 0605 GMT, down 0.43 percent from its closing on Friday, when it hit 14.4738, its highest level since Oct. …
The Rand of South Africa Weakening as The Dollar Strengthens Read More »
Banxso.com, a new South African exchange, is scheduled to launch on 1 April 2022. The FSCA in South Africa will fully regulate the exchange. Additionally, Banxso plans to operate in 3 more countries by the end of the year (EU countries will be regulated by CySec, UAE by DFSA, and the UK by FCA). We …
Banxso Launches in South Africa, Fully Regulated by FSCA Read More »
WHO announced the first six countries that will receive the technology to produce mRNA vaccines. Today, at the EU – African Union summit in Brussels, Dr. Tedros Adhanom Ghebreyesus, WHO Director-General, announced the first countries to receive the tech for mRNA vaccines. These countries are Egypt, Kenya, South Africa, Nigeria, Senegal, and Tunisia. The announcement …
WHO announces first tech recipients of mRNA vaccine hub Read More »
Oil prices rose on December 16 as U.S. implied consumer petroleum demand jumped to a record in the U.S. The demand for oil in the world’s top oil consumer surged even as the omicron variant of the coronavirus threatens to dent oil consumption globally. A signal from the country’s central bank to tackle inflation before …
It is getting harder and harder to maintain its zero-Covid policy, but the People’s Republic of China is not willing to change its position regarding the pandemic. More precisely, on Monday, mainland China reported its first case of the omicron Covid variant. The first patient with the omicron variant is a person who returned to …
China is Not Willing to Abandon its Covid-19 Policy Read More »
European stocks rose on Wednesday, with investors analyzing the latest information around the omicron Covid variant. The pan-European Stoxx 600 gained 0.2% by early afternoon, paring earlier gains, with healthcare stocks gaining 1.2% while retail fell 0.9%. The positive trade in the region came after a strong session on Tuesday. This week, Pfizer’s CEO Albert …
How European Stocks Reacted to Covid’s New Variant Read More »
On Tuesday, riskier currencies picked up while the dollar index remained steady as traders speculated that the new Omicron strain of coronavirus would not be as severe as previously anticipated. Asian shares made a recovery overnight. Oil prices rose as risk appetite changed following reports in South Africa this week saying that the new Omicron …
Commodity prices raised as Omicron turned out to be moderate Read More »
European stocks fell on Thursday, following a drop on Wall Street late the previous session, as the new Omicron coronavirus variant fueled market volatility. The Stoxx 600 in Europe fell 0.9% as traders reacted to the first discovery of the new strain in the United States on Wednesday and a continued rise in cases in …
On Thursday, the safe-haven yen floated near a six-week high. At the same time, riskier currencies, including the rand, weakened as the new Omicron variant confirmed itself as the aggressive strain in South Africa spreading globally. Early signs suggest that the Omicron variant might be considerably more contagious than previous strains have confused financial markets …
Aussie and rand weakened as Omicron spooked investors Read More »
The foreign-exchange market managed to stabilize after the volatility on Friday. It resulted from signs that the new Omicron variant causes only mild symptoms and the need for vaccine reformulations. In early trading in Sydney, the U.S. dollar climbed moderately against the euro, yen, and pound. The South African Rand (where the new variant was …
Forex markets stabilize as Omicron panic subsides Read More »
Travel stocks declined on Monday. In Japan, shares of Japan Airlines dropped 3.98% while ANA Holdings fell 4.09%. Shares of other airlines also suffered losses on Monday. Australia’s Qantas Airways dropped 2% while shares of Cathay Pacific in Hong Kong declined 3.85%. Shares of Singapore Airlines fell 2.47% in Singapore. Those losses came as countries …
Travel Stocks declined because of the Covid’s New Variant Read More »
On Friday, the South African rand dropped sharply against the dollar. It happened after detecting a new variant with many mutations in the country. Moreover, on Friday, during Asia trading hours, the currency dropped to 16.2392 against the greenback. Last time, it was trading around 1.7% weaker at 16.2216 per dollar. The losses began after …
South African currency fell concerning new Covid mutations Read More »
There is no lack of factors that have the potential to affect stocks. Stocks in Asia-Pacific declined on Friday, as fears of a new Covid variant influenced investor sentiment. The World Health Organization (WHO) is monitoring a new variant with “a large number of mutations”. Representatives of the organization will meet on Friday to discuss …
Here are the latest market charts and analysis for today. Check them out and know what’s happening in the market today. USDNOK Norway’s Unemployment Rate for September will be released on November 25. The measure will determine the overall health of the labor market during the month. Analysts see the gauge falling to 3.9% from …
As many forex companies realize that there are opportunities in the market, forex activities and scams have increased significantly. Delayed processing of withdrawal requests and unresponsive emails or phone calls are usually early signs that your broker may have problems. We recently learned that some customers of FortFS, a foreign exchange broker operating under the fortfs.com …
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