Dear Clients,
Tradeo ceased offering trading services last year in May. Trading and ancillary will not recommence, and the brand/platform will be permanently discontinued.
For the clients with remaining balances, kindly send a withdrawal request through your login or via chat or email. If there are any queries or concerns relating to your account or any other matter, please email us at [email protected]
Regards,
Tradeo
12 May 21
Dollar Edges Higher; Inflation Data Looms Large
The dollar edged higher in early European trade Wednesday, but remains near recent lows ahead of a key U.S. inflation release.
At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was up 0.2% at 90.287, just above Tuesday’s low of 90.130, seen for the first time since Feb. 26.
EUR/USD traded 0.2% lower at 1.2127, USD/JPY rose 0.2% to 108.83, while AUD/USD fell 0.5% to 0.7804 and NZD/USD dropped 0.6% to 0.7234, with the commodity currencies cooling off after recording recent ten-week tops.
Investors now await the latest U.S. consumer inflation data, due at 8:30 AM ET (1230 GMT), which is expected to show a 3.6% lift in year-on-year prices, boosted by last April’s low base. This would be the largest jump since September 2011.
https://www.investing.com/news/forex-news/dollar-edges-higher-inflation-data-looms-large-2503513
https://www.investing.com/currencies/eur-usd-chart
Pound Jumps to 10-Week High as ‘Scoxit’ Worries Fade
The pound held the bulk of its gains Tuesday after jumping to a 10-week high against dollar, riding a wave of post-election optimism amid fading worries over a Scottish referendum on whether to leave the U.K.
GBP/USD rose 0.19%, to $1.4146.
“[T]here won’t be a (legal) referendum on Scottish independence anytime soon,” Action Economics said, after the Scottish National Party fell short of gaining an overall majority following the national election last week.
“It should be noted that polling suggests that most people in Scotland don’t want a new referendum on independence and that only 36% think the SNP has a mandate for a referendum versus 46% who don’t,” it added.
But results of the election were not only a positive for those opposed to another Scottish referendum, as U.K. Prime Minister Boris Johnson’s Conservative party firmed up their support in the local elections.
https://www.investing.com/news/forex-news/pound-jumps-to-10week-high-as-scoxit-worries-fade-2503043
https://www.investing.com/currencies/gbp-usd-chart
Dow logs steepest daily skid in 2 1/2 months but tech-led Nasdaq stages big comeback to pare worst of Tuesday’s slump
U.S. stocks finished out a wild Tuesday session lower but investors bought into the drop, helping to pare the worst of the day’s steep drop. Still, the Dow Jones Industrial Average DJIA, -1.36% booked its worst day since Feb. 26, ending down 472 points, or 1.4%, at 34,269. At its lows, the blue-chip index was down by as many as 668 points before paring those losses. The S&P 500 index SPX, -0.87% closed 0.9% lower to 4,152, while the Nasdaq Composite Index COMP, -0.09% ended down less than 0.1% at 13,389, recovering from an intraday nadir at 13,107.67. Initial selling was primarily focused on technology and tech-related names, with the downturn blamed on renewed fears of a surge in inflation as the economy recovers from the COVID pandemic. Tech shares, however, saw some bids off their lows on Tuesday as investors saw buying opportunities off the day’s low.
https://www.investing.com/indices/us-30-chart
Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. UR Trade Fix Ltd accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Past performance does not constitute a reliable indicator of future results and future forecasts do not constitute a reliable indicator of future performance.
It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organizational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests when providing our services
