Author: FX

OTTAWA (Reuters) – India’s envoy to Canada, who is being expelled over what Ottawa says are links to the murder of a Sikh leader, insisted in an interview he was innocent and said Prime Minister Justin Trudeau had wrecked bilateral political ties. Both countries on Monday ordered out six diplomats in tit-for-tat moves over Ottawa’s allegations that New Delhi was targeting Indian dissidents on Canadian soil. Trudeau specifically tied the six to the murder of Sikh separatist Hardeep Singh Nijjar last year in British Columbia. Sanjay Kumar Verma, India’s envoy to Canada, told CTV that Trudeau had been relying on…

Investing.com — Wells Fargo analysts expressed their skepticism regarding the recent high-profile policy announcements from China, suggesting in a recent note that the measures taken are unlikely to have a significant impact on the country’s economic trajectory.  The bank argued that the growth effects of these stimulus initiatives will mirror past experiences, falling short of addressing the underlying issues. In recent weeks, China’s central bank eased monetary policy, and the Ministry of Finance has deployed fiscal resources aimed primarily at the struggling property sector and local banks.  However, Wells Fargo believes that “with few fiscal resources deployed toward supporting broader domestic…

UPCOMING EVENTS:Monday: PBoC LPR.Tuesday: Canada PPI.Wednesday: BoC Policy Decision.Thursday: Australia/Japan/Eurozone/UK/US Flash PMIs, US Jobless Claims.Friday: PBoC MLF, Tokyo CPI, German IFO, Canada Retail Sales, US Durable Goods Orders.MondayThe PBoC is expected to cut the LPR rates by 20 bps bringing the 1-year rate to 3.15% and the 5-year rate to 3.65%. This follows the recent announcement by governor Pan Gongsheng on Friday which aims to achieve a balance between investment and consumption. He also added that monetary policy framework will be further improved, with a focus on achieving a reasonable rise in prices as a key consideration. China is in…

aCrude Oil Futures Weekly Forecast: Bears in Control, Watching Key Support Levels📉 Crude Oil Futures (CL1!) are showing clear signs of bearish momentum, with prices falling sharply in recent weeks. This is reflected in the weekly chart, where the market has consistently respected a long-term descending resistance line (marked in red as the bottom of the triangle) stretching back to the highs seen in 2022.Key Technical Levels to Watch for Oil:Current Price: $68.69 (as of the latest close, down -2.80%)Resistance at $78.50: The August 2023 open, just below $78.59, represents a critical resistance area. This level is near prior high…

GQG Partners sells BBVA stake over Sabadell hostile bid, FT reports Source link

The Stochastic Convergence Divergence and MTF Stochastic RSI Forex Trading Strategy stands out as a powerful tool in the forex trading arsenal. This strategy leverages the strengths of two sophisticated indicators: the Stochastic Convergence Divergence (Stochastic CD) and the Multi-Timeframe (MTF) Stochastic RSI. By combining these indicators, traders gain a significant advantage in identifying market trends and making well-informed trading decisions. The synergy between these tools enhances the strategy’s effectiveness, offering a more precise analysis of market conditions. The Stochastic Convergence Divergence indicator excels at revealing the momentum behind price movements. It does so by comparing different moving averages, which…

Ever feel like you’re constantly chasing trends in the foreign exchange market (forex)? Want a reliable tool to help you identify potential trend reversals and set smarter stop-loss orders? Look no further than the BBand Stop Alert v2 MT4 Indicator. This powerful tool, built for the MetaTrader 4 (MT4) trading platform, leverages the principles of Bollinger Bands to generate buy and sell signals, potentially streamlining your trading experience. But before we dive into the nitty-gritty of the BBand Stop Alert v2, let’s take a step back and understand the foundation upon which it’s built: Bollinger Bands. Understanding Bollinger Bands Developed…

Supreme Court rejects request to stay EPA power plant emissions rule Source link

By Andrea Shalal, Steve Holland and Trevor Hunnicutt ATLANTA/LATROBE, Pennsylvania (Reuters) -Republican Donald Trump escalated his verbal attacks on Democrat Kamala Harris on Saturday as the vice president turned to celebrities to generate enthusiasm for her campaign, with both candidates for U.S. president courting early voters. Harris and Trump are essentially tied in the most competitive states and many Americans are voting early by mail or in person, with just 17 days until the Nov. 5 election. On Saturday, Harris rallied supporters at a get-out-the-vote event in Detroit, Michigan, for the city’s first day of early voting, alongside Detroit-born rapper…

China sets loan prime rate (LPRs) on Monday, October 21, 2024.Last month the PBoC cut the 7-day reverse repo rate, and the Medium-term Lending Facility (MLF) rate:and a matching cut to LPRs is expected tomorrow. Indeed, on Friday PBoC Governor Pan foreshadowed Monday’s rate cut, by 20 to 25 basis points he says.Current LPRS are:1-year (which most new loans are based on) 3.35%5-year (reference for mortgages) 3.85%Coming up later in the week from China, on Friday, is the latest Medium-term Lending Facility (MLF). No rate change is expected for this given the cut last month (see link above). China’s National…