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]
The dollar was up, but remained below its recent highs, on Wednesday morning in Asia. Ripple effects from a crackdown in China and caution ahead of the U.S. Federal Reserve’s latest policy decision gave the safe-haven U.S. currency a boost, however.
The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.06% to 92.493 by 1:08 AM ET (5:08 AM GMT).
The USD/JPY pair inched up 0.03% to 109.80.
The AUD/USD pair inched down 0.09% to 0.7353 while the NZD/USD pair inched up 0.01% to 0.6955.
The USD/CNY pair inched down 0.05% to 6.5074 and the GBP/USD pair inched down 0.04% to 1.3868.
The Japanese yen rose about 0.5% against the dollar during the previous session to hit a one-week high, with the Swiss franc and euro also recording small gains. The trio held onto those gains as the Asian session opened, with the euro last trading at $1.1819, which capped gains for the U.S. currency.
Gold was up on Wednesday morning in Asia, remaining close to the key psychological $1,800 mark as investors await the U.S. Federal Reserve’s latest policy decision.
Gold futures were up 0.36% to $1,806.35 by 12:01 AM ET (4:01 AM GMT). The dollar inched up on Wednesday but remained below the three-and-a-half-month high reached during the previous week.
The Fed will hand down its decision later in the day, and Chairman Jerome Powell will speak at a press conference afterward. The decision and Powell’s comments will both be scrutinized for clues on the central bank’s timeline for asset tapering and interest rate hikes.
On the data front, data released on Tuesday said the U.S. Conference Board (CB) consumer confidence index for July was 129.1, its highest level in 17 months. The reading indicated that households’ spending plans are rising even amid inflationary pressures, indicating that the U.S. economy maintained its strong growth as the third quarter gets underway.
Oil rebounded in post-market trading after an industry report showed declining U.S. inventories.
Futures in New York edged up after closing 0.4% lower on Tuesday. Domestic crude supplies fell 4.73 million barrels last week, according to people familiar with data from the industry-funded American Petroleum Institute. Gasoline stockpiles declined 6.23 million barrels, the API said. The fuel supply drop would be the largest since March if U.S. government data confirms it Wednesday.
U.S. benchmark crude futures are poised for the second monthly drop since October with the delta variant interrupting a rebound in demand. Though global inventories are expected to tighten through the end of the year, new movement restrictions have dampened fuel consumption in some countries.
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