As with any other traded asset, shorting a currency is ideal when you believe that it is headed for depreciation in the future. However, you have to time your short position appropriately so that the market does not turn against you. In the forex market, unlike the stock market, shorting does not imply borrowing the asset from your broker. Instead, it simply … [Read more...] about Your Guide to Short Selling Currencies in Forex
US Oil Inventories Grow for Second Straight Week to 434.1 Million Barrels
Source: EIA American crude oil inventories climbed for the second straight week even as refinery inputs and oil imports declined, the Energy Information Administration reported. Commercial crude oil inventories for the week ending October 29, 2021 increased by 3.3 million barrels to 434.1 million barrels.Increases were reported in total motor gasoline, finished gasoline, … [Read more...] about US Oil Inventories Grow for Second Straight Week to 434.1 Million Barrels
Growth of New Orders of US-Made Goods Slips to Five-Month Low in September
Source: US Census Bureau New orders of US-made goods continued to grow in September, albeit at a slower pace as expansion slowed to a five-month low. New orders for manufactured goods climbed by 0.2% or $1.3 billion to $515 billion, slower than the 1.0% increase in August to $514.6 billion. The latest reading is the slowest growth since the contraction recorded in … [Read more...] about Growth of New Orders of US-Made Goods Slips to Five-Month Low in September
American Business Activity Climbs to 3-Month High on New Business, Bigger Inflows
Source: IHS Markit American business activity accelerated to the highest level in three months in October, driven by new business and bigger new order inflows during the month. The seasonally adjusted final IHS Markit US Services PMI Business Activity climbed to 58.7 in October, the fastest since July.The latest reading compares with 54.9 in September and the earlier … [Read more...] about American Business Activity Climbs to 3-Month High on New Business, Bigger Inflows
Chinese Digital Yuan Gets Early Traction as Transactions Hit $9.7 Billion
Source: Reuters Chinese central bank official Mu Changchun says about 62 billion yuan or $9.7 billion worth of transactions have been conducted via the country’s digital yuan “wallet.” USDCNY is up +0.07%. Around 140 million people have reportedly opened “wallets” for the digital Yuan, despite the country having no official date for the launch of the digital currency.Mu … [Read more...] about Chinese Digital Yuan Gets Early Traction as Transactions Hit $9.7 Billion
